MIRA
INFORM REPORT
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Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
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Name : |
OFFICEDGE INDIA PRIVATE LIMITED (w.e.f. 17.02.2004) |
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Formerly Known
As : |
INTELLIVEST INVESTMENT ( |
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Registered
Office : |
509, Shah and Nahar, Off |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation : |
16.05.2000 |
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Com. Reg. No.: |
11-126561 |
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Capital Investment / Paid-up Capital : |
Rs.1.500 Millions |
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CIN No.: [Company
Identification No.] |
U67120MH2000PTC126561 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMO03386F |
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PAN No.: [Permanent
Account No.] |
AAACO6577D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Chemicals. |
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No. of Employees
: |
14 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 122412 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having
satisfactory track records. Trade relations are reported as fair. Business is
active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
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Name : |
Mr. Feroz |
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Designation : |
Manager – Supplier |
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Contact No. : |
91-22-40688021 |
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Date : |
27.05.2011 |
LOCATIONS
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Registered Office : |
509, Shah and Nahar, Off |
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Tel. No.: |
91-22-66661000/ 30407777 |
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Mobile No.: |
91-9892182988 (Mr. Feroz) |
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Fax No.: |
91-22-66669870 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. ft |
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Location : |
Leased |
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Warehouse : |
Bhiwandi- Gala No. 2, 3, Builidng No. P1, Prithvi Company, Village Kalher,
Bhiwandi – 421302, |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Shailesh Shreevallabh Karwa |
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Designation : |
Director |
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Address : |
Kamal Kunj, 2nd Floor, Near Parsi Gen Hospital, Bomanji Petit
Road, Warden Road, Mumbai-400036, Maharashtra, India |
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Date of Birth/Age : |
06.03.1977 |
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Qualification : |
MBA |
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Date of Appointment : |
16.05.2000 |
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DIN No. : |
00062674 |
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Name : |
Mr. Anupama Sharad Dalmia |
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Designation : |
Director |
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Address : |
301, Samudra Setu, |
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Date of Birth/Age : |
03.12.1978 |
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Qualification : |
MBA |
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Date of Appointment : |
18.12.1997 |
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DIN No. : |
00062788 |
KEY EXECUTIVES
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Name : |
Mr. Feroz |
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Designation : |
Manager – Supplier |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Shailesh S Karwa |
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6000 |
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Vindhya S Karwa |
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1000 |
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Shreevallabh Karwa |
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250 |
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Shakuntala Karwa |
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250 |
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Anupama Sharad Dalmia |
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7500 |
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Total |
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15000 |
Equity Share Breakup (Percentage of Total Equity)
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading in Chemicals. |
GENERAL INFORMATION
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No. of Employees : |
14 (Approximately) |
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Bankers : |
·
Syndicate Bank, Industrial Finance Branch, 3rd
Floor, 10, ·
HDFC Bank ·
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sandeep Kabra and Associates Chartered Accountant |
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Address : |
22, Manav Mandir, 17th Road, Siddharth Nagar,
Goregaon-West, Mumbai-400062, |
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Tel. No.: |
91-22-22078274 / 28745304 |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.500 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
29.103 |
26.654 |
9.032 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
30.603 |
28.154 |
10.532 |
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LOAN FUNDS |
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1] Secured Loans |
16.592 |
1.448 |
10.844 |
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2] Unsecured Loans |
0.834 |
0.757 |
3.520 |
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TOTAL BORROWING |
17.426 |
2.205 |
14.364 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
48.029 |
30.359 |
24.896 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.028 |
1.277 |
1.269 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
6.127 |
0.100 |
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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 |
38.504
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16.590
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23.840
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Sundry Debtors |
46.003
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50.824
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58.350
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Cash & Bank Balances |
9.179
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11.049
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6.819
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
15.958
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13.325
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10.058
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Total
Current Assets |
109.644
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91.788
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99.067 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
55.035
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60.824
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69.553
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Other Current Liabilities |
2.599
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3.015
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2.995
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Provisions |
5.125
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5.000
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3.000
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Total
Current Liabilities |
62.759
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68.839
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75.548
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Net Current Assets |
46.885
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22.949
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23.519
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MISCELLANEOUS EXPENSES |
0.116 |
0.006 |
0.008 |
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TOTAL |
48.029 |
30.359 |
24.896 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL (A) |
539.229 |
524.883 |
411.127 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
523.907 |
509.457 |
402.529 |
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Advertising Expenses |
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TOTAL (B) |
523.907 |
509.457 |
402.529 |
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PROFIT BEFORE
TAX (E-F) (G) |
15.322 |
15.426 |
8.598 |
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Less |
TAX (H) |
5.622 |
5.055 |
3.267 |
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PROFIT AFTER TAX
(G-H) (I) |
9.700 |
10.371 |
5.331 |
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IMPORTS VALUE |
411.104 |
388.957 |
233.183 |
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Earnings Per
Share (Rs.) |
647 |
692 |
-- |
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Particulars |
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31.03.2011 |
31.03.2010 |
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Sales Turnover (Approximately) |
|
550.000 |
540.000 |
The above information has been parted by Mr. Feroz
KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.80
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1.98
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1.30
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Return on Total Assets (PBT/Total Assets} |
(%) |
13.84
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16.58
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8.57
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Return on Investment (ROI) (PBT/Networth) |
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0.50
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0.55
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0.82
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Debt Equity Ratio (Total Liability/Networth) |
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2.62
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2.52
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8.54
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Current Ratio (Current Asset/Current Liability) |
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1.75
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1.33
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1.31
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LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sundry Creditors |
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Sundry Creditors for Goods |
48.199 |
52.687 |
67.157 |
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Sundry Creditors for Expenses |
6.836 |
8.137 |
2.396 |
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PERFORMANCE
During the year, the Company has achieved a turnover of Rs.
530.510 Millions as compared to Rs 403.937 Millions in previous year . The net
Profit for the year is 10.371 Millions as against Rs.5.330 Millions in the
previous year.
Bankers Charges
Report as per Registry
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This form is for |
Creation of charge |
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Corporate identity number of the company |
U67120MH2000PTC126561 |
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Name of the company |
OFFICEDGE INDIA PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in |
509, Shah and Nahar, Off |
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Type of charge |
Book Debts Others |
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Particular of charge holder |
Syndicate Bank, IFB Branch, 3rd
Floor, 10, |
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Nature of description of the instrument creating or modifying the
charge |
Hypothecation agreement dated 19 February 2009 from Syndicate Bank |
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Date of instrument Creating the charge |
19.02.2009 |
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Amount secured by the charge |
Rs.15.000 Millions |
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Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of Interest Rate of interest charged on this adhoc facility will be PLR + 1.50%
payable on monthly basis. Terms of Repayment Repayment of adhoc limit in lumpsum within 120 days after date of
sanctioned Margin ODBD facility, the margin is 25% on stock and 40% on book debts Extent and Operation of the charge Adhoc working capital limit of Rs.15.000 Millions |
|
Short particulars of the property charged |
Hypothecation of book debts and stocks |
FIXED ASSETS:
·
Computers
·
Motor Car
·
Air Conditioner
·
Furniture and Fixture
AS PER WEBSITE
PROFILE:
Company creates economic value for chemical companies through supply
chain and logistics optimization. Company provides industry consulting
services, transportation rate optimization and comprehensive transportation and
inventory management services; enabling clients to improve performance and
increase profits.
Providing both "point" and "end-to-end" logistics
solutions, Officedge enables customers to increase customer satisfaction,
reduce total costs, bring logistics data to life, and rapidly evaluate and
deploy innovative supply-chain management initiatives.
EXPERIENCE
Company logistics management professionals have decades of experience improving
the flow of goods through every step in the chemical supply chain. Through
comprehensive supply chain assessment and analysis they enable the customers to
capitalize on opportunities to shorten order-to-cash cycles, reduce
transportation and inventory expenses, optimize production processes, and
improve customer service.
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.44.91 |
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|
1 |
Rs.72.89 |
|
Euro |
1 |
Rs.64.84 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.