MIRA
INFORM REPORT
|
Report Date : |
20.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
I A INTERAVION INDIA PRIVATE LIMITED |
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Registered
Office : |
No.301, Aqua Mansion, ASM Road, Ulsoor Lake, Ulsoor, Bangalore –
560042, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.07.2008 |
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Com. Reg. No.: |
08-47249 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500
Million |
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CIN No.: [Company Identification
No.] |
U51909KA2008PTC047249 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRI04474B |
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PAN No.: [Permanent Account No.] |
AABCI9545E |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is engaged in the business of Aviation and
Temperature-Sensitive Logistics. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new and small company in field. Its scale of activities
are limited. However, Trade relations are reported as fair. Business is
active. Payments are reported to be slow. The company can be considered for small business dealings with some
caution. |
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 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
No.301, Aqua Mansion, ASM Road, Ulsoor Lake, Ulsoor, Bangalore –
560042, Karnataka, India |
|
Tel. No.: |
91-80-41133640 |
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E-Mail : |
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Website : |
DIRECTORS
(AS ON 27.09.2010)
|
Name : |
Mr. Arayisheril Lekshmana Jayabhanu |
|
Designation : |
Director |
|
Address : |
No.213, Devdarshan Apartments, 1 Barnaby Road, Kilpauk, Chennai –
600010, Tamilnadu, India |
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Date of Birth/Age : |
16.05.1943 |
|
Date of Appointment : |
22.07.2008 |
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|
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|
Name : |
Mr. Shiraz Jayabhanu |
|
Designation : |
Director |
|
Address : |
No.301, Aqa Mansion, ASM Road, Ulsoore Lake, Bangalore – 560042,
Karnataka, India |
|
Date of Birth/Age : |
28.06.1978 |
|
Date of Appointment : |
22.07.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Arayisheril Lekshmana Jayabhanu |
|
15000 |
|
Shiraz Jayabhanu |
|
35000 |
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|
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Total |
|
50000 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
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|
|
|
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Directors or relatives of directors |
|
100.00 |
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|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Aviation and
Temperature-Sensitive Logistics. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Allahabad Bank · Indian Overseas Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Abraham Associates Chartered Accountant |
|
Address : |
F-1, Third Floor, Mallis Buildings No.262, 9 (Old No.700), Anna Salai,
Chennai – 600006, Tamilnadu, India |
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Tel. No.: |
91-44-28521166/ 52052928 |
|
Fax No.: |
91-44-52052928 |
CAPITAL STRUCTURE
(AS ON 27.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Share |
Rs.10/- each |
Rs.0.500
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.500 |
0.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.154 |
0.068 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
0.654 |
0.568 |
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|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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|
2] Unsecured Loans |
|
0.651 |
0.115 |
|
|
TOTAL BORROWING |
|
0.651 |
0.115 |
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|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
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|
|
|
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TOTAL |
|
1.305 |
0.683 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.078 |
0.093 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
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 |
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Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.935
|
0.409 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.355
|
0.230 |
|
Total
Current Assets |
|
1.290
|
0.639 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
0.000
|
0.000 |
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|
Other Current Liabilities |
|
0.025
|
0.018 |
|
|
Provisions |
|
0.038
|
0.031 |
|
Total
Current Liabilities |
|
0.063
|
0.049 |
|
|
Net Current Assets |
|
1.227
|
0.590 |
|
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|
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|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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|
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TOTAL |
|
1.305 |
0.683 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
|
2.696 |
1.562 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
|
2.571 |
1.463 |
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Advertising Expenses |
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TOTAL |
|
2.571 |
1.463 |
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PROFIT BEFORE
TAX |
|
0.125 |
0.099 |
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Less |
TAX |
|
0.039 |
0.031 |
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PROFIT AFTER TAX
|
|
0.086 |
0.068 |
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|
Earnings Per
Share (Rs.) |
|
2.49 |
0.14 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
3.19 |
4.35 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
9.14 |
13.52 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.19 |
0.17 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
1.09 |
0.29 |
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Current Ratio (Current Asset/Current Liability) |
|
|
20.48 |
13.04 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE:
The company has started the operations during the previous year and
achieved the turnover of Rs.1.562 Millions in the current year and have net
profit of Rs.0.099and have net profit of Rs.0.099 Million in the first year
itself even though in the Economy Slow Down. During the year they have operated
in normal and expected to achieve some very good results in the coming periods.
WEBSITE DETAILS:
CORPORATE
PROFILE
Interavion Private Limited is a new and emerging company with a core competency
in areas relating to aviation and temperature-sensitive logistics. The
philosophy is to design and implement specific market-entry strategies for
their international clients who plan to enter the Indian market, while
simultaneously positioning as their local strategic partners. The business
model is built around their service and product offerings, their network,
service quality and commercial vigour – thus creating a strong underlying
business proposition that generates value for all stakeholders including their
customers, business partners, employees, and their shareholders.
As a true aviation support and services company, Interavion focuses on
operating in the aviation industry in partnership with the aviation community,
and catering to the various requirements of airports, airlines, MRO's, ground
handling companies and freight forwarders. The early successes helped them
expand their service offering to cover temperature-sensitive logistics in
collaboration with our principals Envirotainer, where we lease specialized air
freight containers to airlines, temperature-sensitive goods manufacturers, and
freight forwarders across the country.
The aviation industry, being a very specialized industry had for a long time
lacked private participation. However the recent paradigm change in the policy
as well as the growth seen in the aviation industry has resulted in an
inordinate demand for aviation related products and services. This has resulted
in airlines and airports planning large scale expansion to cater to this heightened
demand. Internal synergies resulting in organic growth has fostered rapid
expansion within Interavion and has helped them capitalize on these new
opportunities.
Interavion is proud to have introduced the concept of one-stop solution in the
Indian Aviation context. The inherent structure of the organization as well as
the strategic alliances they have forged, allows them to partner with
their foreign principals and support
them from the initial market-entry strategy phase to the actual installation
and commissioning of the product. Such a relationship has bode well for the
end-client, since they benefit from having locally available spares, lower
installation costs, and availability of locally trained manpower during times
of need. The network of support offices across the country help us provide
optimal support and service at the lowest possible cost to their clients. In
addition to their network, their integrated service offering constitutes are a
valuable asset to their partner companies.
Interavion represents major, well-established, reliable industry leaders in the
field of aviation from Europe, North America, Australia and Asia. Through the
international partners, they routinely supply Indian Airlines, Air India,
Lufthansa, AAI, among others with Aviation Spares, Services, Ground Support
Equipment and airport equipment.
.
Concurrently, Cold Chain Support Services has also become one of Interavion’s
core competency. In combination with Envirotainer, the global leader in active
cooling solutions, they are proud to offer the world’s cold-chain solution for
air cargo shipments both into and out of India. Specific details of their
offering as well as the cold chain management services may be found in the
Evirotainer Active Cooling Solutions section.
The men and the women of Interavion are their decisive asset who take on
challenges day after day to win contracts and execute them in a professional
manner. They enhance the value of the business offerings, the network and the
services, design customized solutions and most importantly give our brand a
human face, which is indispensable in the business.
Doing business with Interavion provides the comfort of working with a company
that believes in professionalism, ethics, efficacy and quality. The service
offerings, network, service quality audits and commercial vigour – they believe
they have the competitive edge to make a
difference and be successful.
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 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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.