%20PRIVATE%20LIMITED%20-%20147752%2018-Jul-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
18.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
DRS WAREHOUSING (NORTH) PRIVATE LIMITED (w.e.f. 11.07.2008) |
|
|
|
|
Formerly Known
As : |
BANKEY BIHARI LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
308, Neelkanth Plaza, Road No.44, Mahindra Park, Pitampura Community
Centre, New Delhi – 110034 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 (Provisional) |
|
|
|
|
Date of
Incorporation : |
05.09.2006 |
|
|
|
|
Com. Reg. No.: |
55-153134 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.866 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63090DL2006PTC153134 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM1297B |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
The company is primarily engaged in the business of providing
warehousing services. |
|
|
|
|
No. of Employees
: |
3 – Approximately (Operation Outsourced) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. The valuation report and networth statement provided are
not signed or stamped by the concern authorities. Payment terms are not
known. It would be advisable to take adequate securities while dealing with
the subject. |
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) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mrs. Anupama Saini |
|
Designation : |
Manager – Accounts |
|
Contact No.: |
91-9313723989 |
|
Date : |
14.07.2011 |
LOCATIONS
|
Registered Office : |
308, Neelkanth Plaza, Road No.44, Mahindra Park, Pitampura Community
Centre, New Delhi - 110034, India |
|
Mobile No.: |
91-9313723989 (Mrs. Anupama Saini) |
|
E-Mail : |
ramesh.agarwal@agarwalpackers.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
21st Floor, Shivaji Marg, Najafgarh Road, New Delhi –
110015, India |
|
Tel. No.: |
91-11-45004321 Extn. 332 |
|
Fax No.: |
91-11-45063710/ 45063719 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Warehouse : |
Located at: · 81, Km Stone, NH -8, Near Golden Hut Resorts, Village: Khijuri, Tehsil: District Rewari – 123401, Haryana, India · Village: Rajpura (Saha) on NH – 73, Tehsil: Naraingarh, District – Ambala – 134202, Haryana, India · Panchgaon- Jamalpur Road, Near Jamalpur Chowk, Tehsil: Pataudi, District – Gurgaon – 122503, Haryana, India · Village: Mitnaul on NH – 2, Tehsil Hodal, District Palwal – 121102, Haryana, India |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Ramesh Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
496, Sainik Vihar, Pritampura, New Delhi – 110034, India |
|
Date of Birth/Age : |
06.09.1962 |
|
Qualification : |
SSC Passed |
|
Date of Appointment : |
05.09.2006 |
|
|
|
|
Name : |
Mr. Rajendra Agarwal |
|
Designation : |
Director |
|
Address : |
47/A, Yoshadham Bunglow, Goregaon Mulund Link Road, Mumbai – 400063,
Maharashtra, India |
|
Date of Birth/Age : |
31.08.1964 |
|
Date of Appointment : |
11.02.2008 |
|
|
|
|
Name : |
Mr. Dayanand Agarwal |
|
Designation : |
Director |
|
Address : |
Plot No.68, A. P. Texi Book colony, Gunrock, Karkhana, Secundrabad –
500009, Andhra Pradesh, India |
|
Date of Birth/Age : |
23.07.1951 |
|
Date of Appointment : |
05.09.2006 |
|
Date of Ceasing : |
28.03.2011 |
|
|
|
|
Name : |
Mr. Ratan Lala Goyal |
|
Designation : |
Director |
|
Address : |
House No.50, First Floor, Chandralok Enclave, Pitampura, Mahindra
Park, New Delhi – 110034, India |
|
Date of Birth/Age : |
08.01.1951 |
|
Date of Appointment : |
21.05.2010 |
|
|
|
|
Name : |
Mr. Nipun Sahni |
|
Designation : |
Director |
|
Address : |
F-87, Rechmond Park, DLF Phase – IV, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
01.12.1970 |
|
Date of Appointment : |
22.02.2008 |
|
Date of Ceasing : |
31.12.2010 |
|
|
|
|
Name : |
Mr. Martin Ji Hoon Seol |
|
Designation : |
Managing Director |
|
Address : |
Homat Virginia # 201, 4-11-2 Minami – Asabu, Minato-Ku, Tokyo –
1060047, Japan |
|
Date of Birth/Age : |
04.01.1970 |
|
Date of Appointment : |
01.03.2009 |
|
Date of Ceasing : |
31.12.2010 |
|
|
|
|
Name : |
Mr. Kimmo Benjam Tammela |
|
Designation : |
Managing Director |
|
Address : |
1 Grange GDN, # 08-06, Singapore – 249631, Singapore |
|
Date of Birth/Age : |
24.06.1968 |
|
Date of Appointment : |
19.08.2009 |
|
|
|
|
Name : |
Mr. David Dong Wook Kim |
|
Designation : |
Director |
|
Address : |
Flat No.13A, Regence Royale Tower 2, 2 Bowen Road, Mid – Level, Hong
Kong |
|
Date of Birth/Age : |
22.11.1976 |
|
Qualification : |
BA in Business Admin and Economics |
|
Date of Appointment : |
19.08.2009 |
|
|
|
|
Name : |
Mr. Stuart Morrison Grant |
|
Designation : |
Director |
|
Address : |
39 Evelyn Gardens London SW 73BJ |
|
Date of Birth/Age : |
08.06.1968 |
|
Qualification : |
Post Graduate and MBA |
|
Experience : |
18 Years |
|
Date of Appointment : |
31.12.2010 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Tuhin Parikh |
|
Designation : |
Director |
|
Address : |
APT 24, 90 Ellery ST Cambridge MA 02138 |
|
Date of Birth/Age : |
22.03.1973 |
|
Qualification : |
M. com |
|
Date of Appointment : |
31.12.2010 |
KEY EXECUTIVES
|
Name : |
Mrs. Anupama Saini |
|
Designation : |
Manager – Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares (Equity) (Class A) |
|
|
|
|
|
Golden Gate Holdings Limited, Mauritius |
|
634570 |
|
DRS Roof Tech and Infrastructure Private Limited, India |
|
173065 |
|
|
|
|
|
Total |
|
807635 |
|
|
||
|
Names of Shareholders |
|
No. of Shares (Equity) (Class B) |
|
|
|
|
|
DRS Logistics Private Limited, India |
|
261827 |
|
|
|
|
|
Total |
|
261827 |
|
|
||
|
Names of Shareholders |
|
No. of Shares (Preference) |
|
|
|
|
|
Golden Gate Holdings Limited, Mauritius |
|
522755 |
|
DRS Logistics Private Limited, India |
|
251827 |
|
DRS Roof Tech and Infrastructure Private Limited, India |
|
142570 |
|
|
|
|
|
Total |
|
917152 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
59.33 |
|
Bodies corporate |
|
40.67 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in the business of providing
warehousing services. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed Capacity (Total Leasable Area) |
Actual Production (Lease Area as on 31.05.2011) |
|
|
|
|
|
Jamalpur |
179674 |
117918 |
|
Khajuri – I |
62400 |
62400 |
|
Khajuri – II |
67417 |
33498 |
|
Khajuri – III |
184010 |
162637 |
|
Khajuri – IV |
44142 |
35103 |
|
Khajuri – Ext. |
13634 |
13634 |
|
Ambala |
105947 |
76500 |
|
Palwal |
487906 |
380570 |
|
|
|
|
GENERAL INFORMATION
|
Customers : |
End Users
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Suppliers : |
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No. of Employees : |
3 – Approximately (Operation Outsourced) |
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Bankers : |
· Axis Bank Limited 4/10, OPG House, Asaf Ali Road, New Delhi - 110002, Delhi,
India · Axis Bank Limited Statesman House, 2nd Floor, 148 Barakhamba
Road, New Delhi, India · Corporation Bank M-41, Connaught Circus, New Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. V. Ghatalia and Associates Chartered Accountant |
|
Address : |
Golf View Corporate Tower –B, Sector – 42, Sector Road, Gurgaon –
122002, Haryana, India |
|
Tel. No.: |
91-124-4644000 |
|
Fax No.: |
91-124-4644050 |
|
|
|
|
Holding Company : |
Golden Gate Holdings Limited,
Mauritius |
|
|
|
|
Ultimate Holding Company: |
Merrill Lynch Asian Real Estate Opportunity Fund Pte. Limited. |
|
|
|
|
Associates/Subsidiaries : |
· RRD Roofing and Trading Private Limited · Agarwal Packers and Movers Private Limited Address: 46, Eastern Chamber, 5th Floor, Poona Street, Mumbai – 400009, Maharashtra, India Activity: Business of providing end to end solution to the customers in relocation (Household and Official) Bankers: State Bank of India, Axis Bank and Corporation Bank. · DRS Rooftech and Infrastructure Private Limited Address: 107, Punjabi Bagh Transport Centre, New Delhi, India Activity: Real Estate – Construction, Management an d Renovation of Warehouses Bankers: Axis Bank and Corporation Bank · DRS Logistics Private Limited Address: 21, 1st Floor, Shivaji Marg, Najafgarh Road, New Delhi, India Activity: Business of Public Carriers and Transporters. Bankers: HDFC Bank, State Bank of India and Axis Bank |
CAPITAL STRUCTURE
(AS ON 31.03.2011
– Provisional)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares (Class A) |
Rs.10/- each |
Rs.15.000 Millions |
|
500000 |
Equity Shares (Class B) |
Rs.10/- each |
Rs.5.000 Millions |
|
2000000 |
Preference Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.40.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
807635 |
Equity Shares (Class A) |
Rs.10/- each |
Rs.8.076
Millions |
|
261827 |
Equity Shares (Class B) |
Rs.10/- each |
Rs.2.618
Millions |
|
917152 |
10% Non Cumulative Compulsory Convertible Preference Shares |
Rs.10/- each |
Rs.9.172
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.19.866 Millions |
Note 1:
Of the above 182,050 (Previous year 182,050)
Class A Equity Shares of Rs.10/- each were issued for consideration received
other than in Cash.
Note 2:
Of the above 182, 050 (Previous year 182,050) Compulsory Convertible
Preference Shares of Rs.10/- each were
issued for consideration received other than in Cash.
Note 3:
Non cumulative compulsorily Convertible
Preference Shares are convertible into ordinary shares at fair value after 5
years or within the time periods as determined by the Board of direct ors of
the company.
The conversion of CCPD to Equity Shares shall be proportionate to the
equity shareholding of the shareholders in the company.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
19.866 |
18.443 |
18.443 |
13.260 |
|
|
2] Share Application Money |
37.204 |
0.100 |
0.100 |
0.000 |
|
|
3] Reserves & Surplus |
1050.107 |
964.721 |
964.721 |
667.870 |
|
|
4] (Accumulated Losses) |
(100.316) |
(176.499) |
(113.562) |
(54.250) |
|
|
NETWORTH |
1006.861 |
806.765 |
869.602 |
626.880 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
477.049 |
511.407 |
430.000 |
160.000 |
|
|
2] Unsecured Loans |
6.839 |
43.297 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
483.888 |
554.704 |
430.000 |
160.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
1490.749 |
1361.469 |
1299.702 |
786.880 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1367.219 |
1142.619 |
1160.908 |
658.656 |
|
|
Capital work-in-progress |
136.605 |
289.203 |
242.897 |
199.267 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
15.725
|
26.635 |
15.128 |
0.000 |
|
|
Cash & Bank Balances |
13.897
|
0.892 |
1.587 |
61.063 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
40.905
|
135.634 |
122.016 |
183.382 |
|
Total
Current Assets |
70.527
|
163.161 |
138.731 |
244.445 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditor |
43.331
|
183.182 |
215.199 |
241.084 |
|
|
Other Current Liabilities |
40.103
|
50.332 |
27.635 |
74.404 |
|
|
Provisions |
0.168
|
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
83.602
|
233.514 |
242.834 |
315.488 |
|
|
Net Current Assets |
(13.075)
|
(70.353) |
(104.103) |
(71.043) |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
1490.749 |
1361.469 |
1299.602 |
786.880 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Operating Income |
120.400 |
67.552 |
44.192 |
1.988 |
|
|
|
Other Income |
0.606 |
0.085 |
0.592 |
0.585 |
|
|
|
Excess Provision of Depreciation W/back |
57.947 |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
178.953 |
67.637 |
44.784 |
2.573 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Personnel Expenses |
1.666 |
0.531 |
0.416 |
0.213 |
|
|
|
Operating and Other Expenses |
19.095 |
14.611 |
16.851 |
51.086 |
|
|
|
TOTAL (B) |
20.761 |
15.142 |
17.267 |
51.299 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)
(C) |
158.192 |
52.495 |
27.517 |
(48.726) |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
66.970 |
63.517 |
62.278 |
4.752 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
91.222 |
(11.022) |
(34.761) |
(53.478) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.039 |
51.916 |
24.550 |
0.782 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
76.183 |
(62.938) |
(59.311) |
(54.260) |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
76.183 |
(62.938) |
(59.311) |
(54.260) |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(176.499) |
(113.561) |
(54.250) |
0.010 |
|
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(100.316) |
(176.499) |
(113.561) |
(54.250) |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.35 |
(67.88) |
(68.91) |
(691.35) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
42.57
|
(93.05) |
(132.44) |
(2108.82) |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
63.27
|
(93.17) |
(134.21) |
(2729.38) |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.30
|
(4.82) |
(4.56) |
(6.01) |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
(0.08) |
(0.07) |
(0.09) |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.56
|
0.98 |
0.77 |
0.76 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84
|
0.70 |
0.57 |
0.77 |
LOCAL AGENCY FURTHER INFORMATION
NET WORTH OF MR. RAMESH AGARWAL
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
||
|
ASSETS
|
|
||
|
Immovable
Property |
|
|
|
|
Land: Dhudhu, Kishan Garh |
|
1.382 |
|
|
Land: Shamshabad Road, Hyderabad |
|
0.061 |
|
|
Land: Village-Kompally, Secunderabad |
|
0.175 |
|
|
Factory at Narsinghpur |
|
|
|
|
496, Sainik Vihar, Pitampura |
|
0.470 |
|
|
DRS House 7575 Ram Nagar, Paharganj, New
Delhi, India |
|
0.303 |
|
|
U.P.B. Godown, Shaheed Nagar |
|
5.498 |
|
|
|
|
|
|
|
Investment in Shares (Marketable in Equity
shares / MF’s) |
|
6.648 |
|
|
Life Insurance Policies (Surrender Value) |
|
3.123 |
|
|
Jewellery |
|
0.462 |
|
|
Loans and Advances |
|
12.004 |
|
|
Punjabi Club Membership |
|
0.100 |
|
|
Furniture and Fixtures |
|
1.457 |
|
|
Cash and Bank Balance / FDR’s |
|
0.402 |
|
|
Advance Tax and Tax Deducted at Sources |
|
1.107 |
33.192 |
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
Secured Loans |
|
1.752 |
|
|
Unsecured Loans |
|
15.567 |
17.319 |
|
|
|
|
|
|
Annual
Income for the year 2010-11 |
|
|
|
|
Rent – DRS House 7575 Ram Nagar |
0.066 |
|
|
|
Rent – UPB Godown |
1.200 |
|
|
|
Salary – DRS Logistics Private Limited |
1.227 |
|
2.493 |
|
|
|
|
|
|
Net worth of Mr. Ramesh Agarwal As on 31.03.2011 |
|
|
18.465 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT OF THE PROPERTIES
AS
ON 3rd MARCH 2009
(RS.
IN MILLIONS)
|
Particulars |
GOEL AND ASSOCIATES |
|
Valuation |
|
|
|
|
|
Khijuri |
666.300 |
|
Ambala |
132.000 |
|
Palwal |
716.800 |
|
Jamlpur |
316.700 |
|
Jaipur (Land
Only) |
NA |
|
|
|
|
Total |
1831.800 |
------------------------------------------------------------------------------------------------------------------------------
PERSONAL
ASSETS TO THE DIRECTOR
|
Name |
Amount (Rs. In Millions) |
|
|
|
|
Mr. Ramesh
Agarwal |
Rs.476.800
Millions as on 31.03.2009 Rs.480.000
Millions as on 31.03.2010 |
|
|
|
INSURANCE
DETAILS
|
Unit’s Assets Covered |
Policy No./ Cover Note |
Validity |
Sum Assured |
Risk Covered |
|
|
|
|
|
|
|
Warehousing
Sheds at Ambala, Jamalpur, Palwal and Khajuri
|
2130/00007047 /000/00 |
19.01.2011 to 18.01.2012 |
Rs.300.919
Millions |
Fire, Lightening
Explosion/ Implosion, Aircraft Damage, Riot, Strike and Malicious Damage, Storm,
Cyclon, Typhoon, Tempest, Hurricane, Flood and Inundation, Impact Damage
Subsidence and landslide including Rock Side, Bursting and / Or Overflowing
of water tanks, Apparatus and Pipes, Missile Testing Operation, Leakage from
Automatic Sprinkerler Installations, Bush Fire |
FINANCIAL
ANALYSIS:
|
Last available financial statement (Year ended dd/mm/yyyy) |
Audited 31.03.2010 |
|
|
|
|
|
|
Recent summary financials (upto a period not more than two months old) |
Provisional 31.03.2011 |
|
|
|
|
|
|
Advance Taxes Paid |
TDS 2010-11 Rs.8.125 Millions |
|
|
|
|
|
|
Change in borrowings (from FY 2008-09 to FY 2009-10) (from FY 2009-10 to FY 2010-11) |
Rs.81.400 Millions Rs.(34.400) Millions |
|
|
|
|
|
|
Debtors Position (At last month end 31.05.2011 specify amount > 90 days) |
Rs.1.485 Millions |
|
|
|
|
|
|
Creditors Position (At last month end 31.05.2011 specify all suppliers not paid for more than 90 days) |
Rs.0.467 Millions |
|
|
|
|
|
|
Stock Position (at last month end) |
Nil |
|
|
|
|
|
|
Drawing Power |
NA |
|
|
|
|
|
|
Any other material development |
Nil |
|
|
|
|
|
|
Whether the critical ratios conforms to the bench mark stipulation |
Current Ratio |
1.25 |
|
Debt-Equity Ratio |
2.00:1 |
|
|
DSCR |
1.50 |
|
|
TOL / TNW |
4:1 |
|
|
Promoter’s Contribution |
25% |
|
SWOT ANALYSIS OF
THE UNIT
|
STRENGTHS ·
The key managerial people have adequate
industry experience. The relevant global tie-ups of the group are also likely
to aid the company in the operations through latest technology and best industrial Practices. |
WEAKNESS · The company’s business is dependent upon the client business. |
|
OPPORTUNITIES · Increase in logistics outsourcing trend in the market would provide massive opportunity to the company and other group companies for offeri9ng end-to-end logistics operation to the industry. · Growth of the organized Retail industry in the country. |
THREATS · Though the industry is profitable and attracts new players, entry and exit barriers act as a limitation to the number of competitors. · Competition from entry of large players. · Amendments in Government Policies. |
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
Corporate
identity number of the company |
U63090DL2006PTC153134 |
|
Name of the
company |
DRS WAREHOUSING (NORTH)
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
308, Neelkanth
Plaza, Road No. 44, Mahindra Park, Pitampura Community Centre, New Delhi –
110034, India |
|
This form is for |
Modification of
Charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Axis Bank Limited 4/10, OPG House,
Asaf Ali Road, New Delhi – 110002, India |
|
Nature of
instrument creating charge |
Memorandum of
entry (Extension of equitable mortgage) |
|
Date of
instrument Creating the charge |
24.01.2011 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Interest to be
charged @ base rate plus4.75% i. e. presently 12.75% p. a. Terms of
Repayment: As per repayment
an ne xu re-I I to the agreement dated 05.01.2011 Margin: 61.77% Extent and
Operation of the charge: Term loan- II of
Rs.20.000 Millions also secured by Equitable mortgage by deposit of title
deeds in respect of company's immovable properties situated at 1) village
Mitnaul, Tehsil Hodal, Distt. Faridabad, Haryana, 2.) Village Khajuri Tehsil
Riwari, Distt. Gurgaon, 3.) Village Rajpura, Tehsil Naraingarh Distt. Ambala,
Haryana, 4.) Village Jamalpur, Tehsil Farukh Nagar, Distt. Gurgaon Haryana. |
|
Particulars of
the property charged |
Pari passu first
charge on all the existing and future immovable fixed assets, movable fixed
assets, all plant and machinery, fixture, all rights, title, interest
benefits etc. All receivables,
money and investments lying in all Escrow Accounts subject to term and
condition as per escrow agreement and Assignment of all rights and benefits
under construction contracts. |
|
Particulars of
the present modification |
Now the charge is
also secured by equitable mortgage by deposit of title deeds in respect of
company's immovable properties of land situated at 1) village Mitnaul, Tehsil
Hodal, Distt. Faridabad,Haryana, 2.) Village Khajuri Tehsil Riwari, Distt.
Gurgaon, 3.) Village Rajpura, Tehsil Naraingarh Distt. Ambala, Haryana, 4.)
Village Jamalpur, Tehsil Farukh Nagar, Distt. Gurgaon Haryana. Other terms
and conditions remain the same |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Computers
· Furniture and fixtures
------------------------------------------------------------------------------------------------------------------------------
WEBSITE DETAILS:
MR. RAMESH AGARWAL - CHAIRMAN
Mr. Ramesh Agarwal is a man of high
principles from a Defense background and he is an able administrator. He is
well known for his innovative thinking and positive bent of mind. He has
transformed Household goods segment into an established Industry through his
flagship company "Agarwal Packers and movers". He has been in the
continuous limelight for introducing advanced packing technology and double
door home carrier in this segment that has created a niche in the market. He
has studied Indian Logistics sector microscopically and has been the real
architect of 3PL and 4PL services. Not stopping here, he has ably steered
Agarwal Movers Group through his determined approach and is a firm believer
that all problems have solutions if an analytical approach is used. He has
pioneered in creating state-of-the-art warehousing infrastructure and roofing
solutions. A shrewd thinker and a person noble character, he generates a
tremendous flow of positive energy. Agarwal Movers Group is very proud to have
a Director of such high caliber. His principle has always been "waste cutting"
and not "cost cutting". Customer service has always been close to his
heart. He has also firmly believed that unless last man manning the transport
chain is "happy and satisfied" industry cannot flourish. Taking this
forward for the yeomen contribution of drivers community a model "driver
sevakendra" is the next milestone to be achieved and Mr. Ramesh Agarwal is
personally spearheading this project and is his "next mission
possible" in India.
He is a very well known and respected figure in Transport Industry having the
portfolio of National president of AITWA and participates in various meetings,
seminars and conferences. He always focuses upon the welfare of Transport
sector growth in line with the National economy and protecting its interests
"Transport growth" is complimentary to "Nations growth" and
both have to work hand in hand is his clear thought. He represents several
committees and groups to take his agenda forward. Mr. Ramesh Agarwal, also
exels in social, education and religious activities.
GROUP DIRECTOR
MR. RAJENDER AGARWAL (DIRECTOR)
Mr. Rajender Agarwal is known for his
business acumen that he has imbibed from his peers right from his childhood
days. He nurtured the idea of venturing into surface transport during his
college days. He is the brain behind the formation of Agarwal Movers Group and
has been associated with all developments right from its inception. He
overlooks the entire operations on All India basis operating from Mumbai. It is
always the challenge of the future, the feeling of excitement that drives
Rajender to successful achievements in any task chosen. He is known for being a
tough task master with a masterly blend of firmness and softness. Life's blows
cannot break Rajender whose spirit is warmed by the fire of enthusiasm. In
fact, the huge ownership of company operated fleet would not have been possible
in such a short span without his involvement. He is known for application of
innovative ideas to strengthen and improve effectively the company, preparing
good reports and efficient handling on deployment of vehicles profitably and
efficiently.
MR. DINESH AGARWAL (DIRECTOR)
Mr. Dinesh is a silent performer. He is by
nature a reserved person. He believes in performance without publicity. He is
good at demonstrating respect with simple, yet powerful actions. He often
encourages staff to express opinions and ideas. Dinesh is the backbone of
Chennai operations. He has a wealth of expertise in Customer Relationship
Management. To him the difference between being a manager and being a leader is
simple. Management is a career. Leadership is a calling. To him no problems are
insurmountable as he has the grit and tact to unravel problems before they
reach emergency status. He advices staff that knowing is not enough,
application is a must. Willing is not enough, they must do it and demonstrate.
Let them not be content to wait and see what will happen, but give them the
determination to make the right things happen.
MR. ANKUSH MEHRA (MANAGING DIRECTOR)
Mr. Ankush Mehra is Post Graduate in Commerce
and MBA and has over 17 years of experience in managing complete Supply Chain
Management including Domestic and International Logistics with leading MNC's
and Indian Corporates like Honda Siel Cars India Limited , Samsung India
Electronics Limited , Metro Cash and Carry India Private Limited and Reliance
Hypermarket Limited His last assignment was with Reliance Retail Limited, as
Assistant Vice President - Supply chain and was heading their "Hyper
market project" on All-India basis which include dimensioning from
business plan, manpower planning, finalization of distribution centre, setting
up and successfully implementing systems and procedures in the distribution
centre. He has successfully set up entire Logistics and Distribution network of
M/s. Samsung Electronics India Limited, world leader in Consumer Goods
Industry, I.T Peripherals and German MNC in whole sale trading. He also has
functional knowledge of Supply Chain Management and exposure to handle large volume
of business-- Exposure to Multi-Model Transportation, Inventory Management,
Insurance Management, Warehouse Management, Customs, Sales Tax, Excise,
exposure to management of Third Party Logistics Operations.
GROUP PROFILE:
An undisputed leader in packing and moving, The group today is a major player into the field of Logistics and Supply Chain
Management. It has created a niche market for itself by
providing timely and reliable transportation services to national and
multinational clients like Samsung, Ericsson, ITC,
Ranbaxy, MRF, Goodyear, LG, Philips, Hyundai Motors, Reliance
Communications, Idea Cellular,
Ericsson India, Oyster Bath Concepts and many other top retail chains
operating in India.
With the business foresight and progressive
outlook, its promoters could foresee a great potential for relocation business,
because India has large no. of employees in government, public and private
sector having multi-location establishments and the transfer of employees on
regular basis was an established policy rather than an exception. Agarwal
Movers Group made its next entry into the field of "Logistics and
Supply Chain Management ". Complex distribution models were created
and studied using multimodal means of transportation - a combination of Truck,
Rail and Air coupled with the traditional Hub and Spoke System - to achieve the
right balance between cost and reliability.
The Market Research team that is in
continuous interaction with the end users of such services has inferred that
whatever the current storage capacity that is available in the country is
miniscule and of traditional style and its upkeep do not match even the basic
standards. It still takes months to put up such a conventional style warehouse
and the facilities are neither customer nor product friendly. They worked on
these problems for couple of years and added one more feather in its cap as
well as in its innovative kitty by designing the latest state of art warehouses
taking advantage of the advanced technology. Thus, a new unit - DRS Warehousing
(N) Private Limited is formed to suffice the spiraling Warehousing and
Logistics needs of Retail Sector and to fulfill the demand for transshipment
centers
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.44.52 |
|
|
1 |
Rs.71.90 |
|
Euro |
1 |
Rs.62.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.