MIRA
INFORM REPORT
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Report Date : |
12.01.2011 |
IDENTIFICATION DETAILS
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Name : |
HAIKO LOGISTIC INDIA PRIVATE LIMITED |
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Registered Office : |
A-133, Part Ground Floor, Mahipalpur Extension, |
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Country : |
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Financials as on : |
31.03.2009 |
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Date of Incorporation : |
14.01.2005 |
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Com. Reg. No.: |
55-132126 |
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CIN No.: [Company
Identification No.] |
U63011DL2005PTC132126 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELH05396G |
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PAN No.: [Permanent
Account No.] |
AABCH5242H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Service Provider for Logistics. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 180000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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
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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
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Name : |
Mr. Hitesh Bhatt |
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Designation : |
Accountant |
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Contact No. : |
91-22-28577354 |
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Date : |
10.01.2011 |
LOCATIONS
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Registered Office : |
A-133, Part Ground Floor, Mahipalpur Extension, |
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Tel. No.: |
91-11-26782628 /
2841 / 2842 |
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Fax No.: |
91-11-26782629 |
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E-Mail : |
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Website : |
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Area : |
600 Sq. ft. |
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Location : |
Owned |
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Head Office : |
1088, C Wing, |
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Tel. No.: |
91-22-28577354 /
28577327 / 7381/ 40982999 |
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Fax No.: |
91-22-28576704 |
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E-Mail : |
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Area : |
5000 Sq. ft. |
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Location : |
Owned |
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Branch Office : |
4th Floor, Also Located at:
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DIRECTORS
As on 30.09.2009
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Name : |
Mr. Manoj Kumar Gupta |
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Designation : |
Director |
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Address : |
RZ-1A/1, Gali No. 4, Main Sagarpur, |
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Date of Birth/Age : |
20.06.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
13.03.2006 |
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Name : |
Mrs. Neetu Gupta |
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Designation : |
Director |
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Address : |
RZ-1A/1, Gali No. 4, Main Sagarpur, |
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Date of Birth/Age : |
Graduate |
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Date of Appointment : |
14.01.2005 |
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Name : |
Mr. Arjun Lal Gupta |
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Designation : |
Director |
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Address : |
RZ-1A/1, Gali No. 4, Main Sagarpur, |
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Date of Birth/Age : |
68 Years |
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Qualification : |
Post Graduation |
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Date of Appointment : |
14.01.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 30.09.2009)
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Names of Shareholders |
No. of Shares |
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Neetu Gupta |
148000 |
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Arjun Lal Gupta |
148500 |
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Manoj Gupta |
136000 |
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Total |
432500 |
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Category |
Percentage |
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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 : |
Service Provider for Logistics. |
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Products : |
Air Freight Forwarding Services |
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Services : |
· Buyers Consolidation · Door to Door Services · Project Cargo · Supply Chain Management · Custom Clearance · Consolidation and Distribution · Hazardous Cargo · Air Freights |
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Exports : |
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Countries : |
·
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·
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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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Customers : |
Corporate, Private Limited, Individual |
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No. of Employees : |
70 (In office) (Approximately) |
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Bankers : |
·
ICICI Bank, Branch Andheri (East),
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S K Jain and Company Chartered Accountants |
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Address : |
256, Chanakya Puri, Sadar Meerut, |
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Tel No. : |
91-121-2661317 |
CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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432500 |
Equity Shares |
Rs.10/- each |
Rs.4.325
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.325 |
4.325 |
4.325 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
40.634 |
35.342 |
30.769 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
44.959 |
39.667 |
35.094 |
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LOAN FUNDS |
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1] Secured Loans |
0.097 |
0.609 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.097 |
0.609 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
45.056 |
40.276 |
35.094 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.961 |
3.697 |
4.215 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
37.692
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34.687 |
44.109 |
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Cash & Bank Balances |
10.607
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11.107 |
15.067 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
40.679
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23.639 |
0.000 |
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Total
Current Assets |
88.978
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69.433 |
59.176 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
43.521
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20.091 |
25.034 |
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Other Current Liabilities |
5.443
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12.858 |
3.371 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
48.964
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32.949 |
28.405 |
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Net Current Assets |
40.014
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36.484 |
30.771 |
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MISCELLANEOUS EXPENSES |
0.081 |
0.095 |
0.108 |
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TOTAL |
45.056 |
40.276 |
35.094 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
59.108 |
42.499 |
37.538 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
51.004 |
35.361 |
32.634 |
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PROFIT BEFORE
TAX (A-B) (C) |
8.104 |
7.138 |
4.904 |
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Less |
TAX (D) |
2.813 |
2.566 |
1.905 |
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PROFIT AFTER TAX
(C-D) (E) |
5.291 |
4.572 |
2.999 |
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Expected Sales (2010-11): Rs.50.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
8.95
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10.76 |
7.99 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.63
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9.76 |
7.74 |
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Return on Investment (ROI) (PBT/Networth) |
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0.18
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0.18 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.09
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0.84 |
0.81 |
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Current Ratio (Current Asset/Current Liability) |
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1.82
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2.11 |
2.08 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :-
(Rs.
in Millions)
|
Particulars |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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Sundry Creditors |
43.521
|
20.091 |
25.034 |
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Total |
43.521
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20.091 |
25.034 |
OPERATIONS :-
The total income of the company for the current financial year is
Rs.59.108 Millions as compared to Rs.42.499 Millions in the previous financial
year.
FORM 8:-
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U63011DL2005PTC132126 |
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Name of the
company |
Haiko Logistics
India Private Limited |
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Address of the
registered office or of the principal place of business in |
A-133, Part Ground Floor, Mahipalpur Extension, New Delhi – 110037,
Delhi, India |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
ICICI Bank Limited, |
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Nature of
description of the instrument creating or modifying the charge |
The cash credit
facility has been provided subject tom terms and conditions set out in the
deed. |
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Date of
instrument Creating the charge |
25.08.2010 |
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Amount secured by
the charge |
Rs.40.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: 11.50% Margin : 25% Extent and
Operation of the charge : 1) Current Assets have been hypothecated as
and by way of exclusive charge. 2) Receivables have been Hypothecated as and
by way of Exclusive Charge. |
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Short particulars
of the property charged |
1) Flat No. 303/304, 3rd Floor, 2) Office No. 2109, and 2110, 2nd
Floor, C Wing, |
Trade References
· Larsen and Turbo
· Voda
·
Web Details
Company Information
Subject was
established by first generation entrepreneur A thorough professional in the
industry for the last more than 14 years who strongly practices and preaches
the mission and motto of the Company.
Subject, was borne with a desire and vision to provide Complete Logistical
Solutions, from Door to Door, to their clients in most cost effective manner.
They understand that the needs of a Stone Exporter are different from an
Apparel Manufacturer and offer solutions specific to not only industry needs
but also to Scales within the Industry.
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.45.32 |
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|
1 |
Rs.70.54 |
|
Euro |
1 |
Rs.58.70 |
SCORE & 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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
29 |
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.