MIRA
INFORM REPORT
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Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
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Name : |
UDYA SHIPPING SERVICES PRIVATE LIMITED |
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Registered
Office : |
B-108, 1st Floor, Sai Sangam, Sector – 15, CBD Belapur,
Navi Mumbai – 400614, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
03.10.2001 |
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Com. Reg. No.: |
11-133547 |
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CIN No.: [Company Identification
No.] |
U35100MH2001PTC133547 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing of Ship Management and Marine Services. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 12188 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. 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 |
LOCATIONS
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Registered Office : |
B-108, 1st Floor, |
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Tel. No.: |
91-22-41626363 / 67912240 |
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Fax No.: |
91-22-27560096 |
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E-Mail : |
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Website : |
DIRECTORS
As on 29.09.2009
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Name : |
Mr. Hamid Khan |
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Designation : |
Director |
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Address : |
Flat No. 1, Tej Sagar Apartment, Sector – 19, Koparkhairane, Navi
Mumbai – 400709, Maharashtra, India |
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Date of Birth/Age : |
15.06.1975 |
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Date of Appointment : |
03.10.2001 |
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Name : |
Mr. Tushar Ranjan Mohapatra |
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Designation : |
Director |
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Address : |
Flat No. 1, Tej Sagar Apartment, Sector – 19, Koparkhairane, Navi
Mumbai – 400709, Maharashtra, India |
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Date of Birth/Age : |
01.01.1970 |
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Date of Appointment : |
03.10.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2009
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Names of Shareholders |
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No. of Shares |
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Mr. Hamid Khan |
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12500 |
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Mr. Tushar Ranjan Mohapatra |
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12500 |
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Total |
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25000 |
As on 29.09.2009
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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 : |
Providing of Ship Management and Marine Services. |
GENERAL INFORMATION
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Customers : |
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Bankers : |
ICICI Bank Limited |
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Financial Institution : |
ICICI Home Finance Company Limited, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Baweja and Kaul Chartered Accountant |
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Address : |
406, 4th Floor, Hilton Centre, Sector – 11, CBD Belapur,
Navi Mumbai – 400614, |
CAPITAL STRUCTURE
As on 29.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
25000 |
Equity Shares |
Rs.100/-
each |
Rs.2.500
Millions |
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
2.400 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.547 |
0.245 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.047 |
0.345 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
2.936 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
2.936 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.983 |
0.345 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.863 |
0.237 |
0.169 |
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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 |
0.000
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.730
|
0.313 |
1.305 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans, Advances and Deposits |
2.069
|
3.665 |
0.644 |
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Total
Current Assets |
2.799
|
3.978 |
1.949 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Provisions |
2.688
|
3.883 |
2.036 |
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Total
Current Liabilities |
2.688
|
3.883 |
2.036 |
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Net Current Assets |
0.111
|
0.095 |
(0.087) |
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MISCELLANEOUS EXPENSES |
0.009 |
0.013 |
0.018 |
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TOTAL |
5.983 |
0.345 |
0.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
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5.418 |
3.906 |
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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) |
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5.117 |
3.661 |
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PROFIT BEFORE
TAX (A-B) (C) |
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0.301 |
0.245 |
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Less |
TAX (D) |
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0.000 |
0.000 |
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PROFIT AFTER TAX
(C-D) (E) |
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0.301 |
0.245 |
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EARNING PER
SHARE (Rs.) |
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12.04 |
-- |
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KEY RATIOS
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PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
5.55
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6.27 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.47
|
5.81 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.10
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0.71 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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1.84
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11.25 |
20.36 |
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Current Ratio (Current Asset/Current Liability) |
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1.04
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1.02 |
0.9647 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION :
The company has gain a profit of Rs.0.301 Millions for the period.
CHANGE OF ADDRESS :
Registered office of the company has been shifted from C-222, 2nd Floor, Big Splash, Sector – 17, Vashi, Navi Mumbai, Maharashtra, India to the present address w.e.f. 01.04.2009
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U35100MH2001PTC133547 |
|
Name of the
company |
UDYA SHIPPING
SERVICES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
B-108, 1st Floor, |
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Type of charge |
Immovable
property Any interest in
immovable property |
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Particular of
charge holder |
ICICI Home Finance Company Limited, |
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Nature of
description of the instrument creating or modifying the charge |
MOE |
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Date of instrument
Creating the charge |
11.12.2008 |
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Amount secured by
the charge |
Rs.3.000 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: 15.25% floating
on monthly rest, adjustable rate of interest (IHPLR - Margin of 1.00%) or as
applicable at the time of disbursement. Terms of
Repayment : Monthly Equated
monthly Installments for 180 Months of Rs.0.042 Millions Margin : As per sanction
terms Extent and Operation
of the charge : Exclusive first
charge on the immovable property and any interest thereon in immovable
property situated at Office No-B 108, 1st Floor, Sai Sangam CHS Limited, Plot
No-85, Sector-15, CBD Belapur, Navi Mumbai, as per sanction terms. Others : Guarantee to be
provided by the directors of the company. |
|
Short particulars
of the property charged |
Office No-B 108,
1st Floor, Sai Sangam CHS Limited, Plot No-85, Sector-15, CBD Belapur, Navi
Mumbai |
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.45.38 |
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|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.61.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
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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 |
2 |
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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 |
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 |
|
27 |
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.