MIRA
INFORM REPORT
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Report Date : |
26.03.2011 |
IDENTIFICATION DETAILS
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Name : |
NAVBHARAT ARCHIVE XPRESS PRIVATE LIMITED (w.e.f 11.07.2002) |
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Formerly Known
As : |
NAVNESH EXIM PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.10.1992 |
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Com. Reg. No.: |
11-068988 |
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CIN No.: [Company Identification
No.] |
U51900MH1992PTC068988 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service provider and offers solutions that will take care of
the from creation, safe storage, retrieval to beyond destruction. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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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 250000 |
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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 an established 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 : |
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Tel. No.: |
91-22-24150000 |
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Fax No.: |
91-22-24133561 |
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E-Mail : |
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Website : |
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Head Office : |
Navbharat Estate, "A" Wing, 5th
floor, Zakaria Bunder Road, Sewri(W), Mumbai - 400 015, Maharashtra, India. |
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Tel. No.: |
91-22-24150000 |
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Mobile No.: |
91-9820337376 (Ms. Smita) |
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Fax No.: |
91-22-24153232 |
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E-Mail : |
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Branches : |
Located at:
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DIRECTORS
As On 27.09.2010
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Name : |
Mr. Vinesh Narandas Davda |
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Designation : |
Managing Director |
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Address : |
204, Prabhu Kutir, |
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Date of Birth/Age : |
22.05.1955 |
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Date of Appointment : |
07.11.2001 |
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DIN No. : |
00050175 |
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Name : |
Mr. Bharat Narandas Davda |
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Designation : |
Director |
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Address : |
204, Prabhu Kutir, |
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Date of Birth/Age : |
16.08.1959 |
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Date of Appointment : |
09.10.2001 |
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DIN No. : |
00050189 |
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Name : |
Ms. Smita Vinesh Davda |
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Designation : |
Director |
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Address : |
204, Prabhu Kutir, |
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Date of Birth/Age : |
06.03.1962 |
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Date of Appointment : |
01.11.2002 |
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DIN No. : |
00050218 |
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Name : |
Mr. Sudhindar Krishan Khanna |
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Designation : |
Additional Director |
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Address : |
Flat No.9, 4th Floor, |
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Date of Birth/Age : |
19.01.1953 |
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Date of Appointment : |
26.10.2007 |
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DIN No. : |
01529178 |
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Name : |
Mr. Sudarshan Sampathukumar |
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Designation : |
Additional Director |
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Address : |
202, |
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Date of Birth/Age : |
23.01.1962 |
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Date of Appointment : |
26.10.2007 |
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DIN No. : |
01875316 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 27.09.2010
|
Names of Shareholders |
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No. of Shares |
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Vinesh Davda |
|
425000 |
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Smita Davda |
|
237500 |
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Bharat Davda |
|
125000 |
|
Ashita Davda |
|
62500 |
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Nirmala Davda |
|
162500 |
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Chaitanya Davda |
|
43750 |
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Ameya Davda |
|
43750 |
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Devak Davda |
|
43750 |
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Anshul Davda |
|
43750 |
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Vinesh davda HUF |
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31250 |
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Bharat Davda HUF |
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31250 |
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Navbharat Potteries Private Limited |
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1750000 |
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Sudhindar Khanna |
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750000 |
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Total |
|
3750000 |
As On 27.09.2010
|
Category |
Percentage |
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Bodies corporate |
46.67 |
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Directors or relatives of Directors |
53.33 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Service provider and offers solutions that will take care
of the records from creation, safe storage, retrieval to beyond destruction. |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chag Pahwa and Shah Chartered Accountant |
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Address : |
404, Bhagyalaxmi, |
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Tel. No.: |
91-22-23873358/238733359 |
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E-Mail : |
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Pan No.: |
AABFC6555H |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3750000 |
Equity Shares |
Rs. 10/- each |
Rs. 37.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3750000 |
Equity Shares |
Rs. 10/- each |
Rs. 37.500 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 |
37.500 |
37.500 |
37.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
26.916 |
24.814 |
18.172 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
64.416 |
62.314 |
55.672 |
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LOAN FUNDS |
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1] Secured Loans |
106.556 |
40.855 |
28.912 |
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2] Unsecured Loans |
89.387 |
78.348 |
51.266 |
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TOTAL BORROWING |
195.943 |
119.203 |
80.178 |
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DEFERRED TAX LIABILITIES |
9.866 |
7.898 |
2.317 |
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TOTAL |
270.225 |
189.415 |
138.167 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
213.436 |
130.628 |
101.696 |
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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 |
0.748
|
0.778 |
0.503 |
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Sundry Debtors |
63.614
|
60.825 |
42.004 |
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Cash & Bank Balances |
7.865
|
1.434 |
2.902 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
53.179
|
46.795 |
41.838 |
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Total
Current Assets |
125.406
|
109.832 |
87.247 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors and Other Current Liabilities |
60.243
|
45.684 |
46.953 |
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Provisions |
8.374
|
6.897 |
3.823 |
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Total
Current Liabilities |
68.617
|
52.581 |
50.776 |
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Net Current Assets |
56.789
|
57.251 |
36.471 |
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MISCELLANEOUS EXPENSES |
0.000 |
1.536 |
0.000 |
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TOTAL |
270.225 |
189.416 |
138.167 |
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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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Income |
210.206 |
185.648 |
145.859 |
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Other Income |
1.286 |
0.490 |
NA |
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TOTAL (A) |
211.492 |
186.138 |
NA |
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Less |
EXPENSES |
|
|
|
|
|
|
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Direct Cost |
79.029 |
57.367 |
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Empolyee’s Cost |
62.360 |
61.231 |
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Administrative Cost |
31.537 |
30.840 |
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Selling cost |
0.949 |
0.699 |
NA |
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Deferred revenue expenses written off |
0.384 |
0.384 |
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TOTAL (B) |
174.259 |
150.521 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37.233 |
35.617 |
21.044 |
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Less |
FINANCIAL
EXPENSES (D) |
17.543 |
13.514 |
7.803 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.690 |
22.103 |
13.241 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.233 |
6.805 |
4.825 |
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PROFIT BEFORE
TAX (E-F) (G) |
10.457 |
15.298 |
8.416 |
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Less |
TAX (I) |
3.445 |
8.656 |
1.800 |
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PROFIT AFTER TAX
(G-I) (J) |
7.012 |
6.642 |
6.616 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.814 |
18.172 |
11.556 |
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PRIOR
PERIOD EXPENSES |
(0.258) |
0.000 |
0.000 |
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PROVISION
FOR DOUBTFUL DEBTS |
(3.500) |
0.000 |
0.000 |
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DEFERRED
REVENUE EXPENSE W/OFF |
(1.152) |
0.000 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
26.916 |
24.814 |
18.172 |
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Earnings Per
Share (Rs.) |
1.87 |
1.77 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.32
|
3.57 |
NA |
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|
Net Profit Margin (PBT/Sales) |
(%) |
4.97
|
8.24 |
5.77 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.09
|
6.36 |
4.45 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.25 |
0.15 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.11
|
2.76 |
2.35 |
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Current Ratio (Current Asset/Current Liability) |
|
1.83
|
2.09 |
1.72 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS:
The Company has
gained its position among the first three in the Records and Information Management Services Industry in Domestic
Market. The Turnover has shown
a growth of 13 % in an extremely
difficult market and crossed Rs. 210.000
millions. The company's client
list includes Fortune 500 companies besides large listed Indian domestic companies. The company expects its
turnover to cross Rs. 250.000 millions in the current financial year.
FORM 8:
|
Corporate
identity number of the company |
U51900MH1992PTC068988 |
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Name of the
company |
NAVBHARAT ARCHIVE
XPRESS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
Navbharat |
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This form is for |
Modification of
charge |
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Type of charge |
Book Debts Movable Property Stock |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation (SDH) dated 25.05.2010 |
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Date of
instrument Creating the charge |
25.05.2010 |
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Amount secured by
the charge |
Rs. 189.100
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- As per Sanction Letter or as stipulated by Bank from time to time. Terms of
Repayment - As per Sanction Letter or as stipulated by Bank from time to
time. Margin - As per
Sanction Letter or as stipulated by Bank from time to time. Extent and
Operation of the charge - The Credit facilities granted by the Bank enhanced
from Rs.104.100 millions to Rs.189.100 millions to secure the limit specified
in the SDH. The security by way of 1st
charge on all present and future Current Assets of the |
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Particulars of
the property charged |
i)
Hypo.
by way of First charge entire current assets of the ii)
Hypo.
by way of exclusive 1st charge on movable fixed assets financed by Bank's
term loan, present and future, except vehicles. iii)
Collateral
security by Simple Mortgage over imm. properties viz. Office Premises No.501,
No.502, 503 and 504 situated at Navbharat Estates, |
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Date of
instrument modifying the charge |
14.12.2009 |
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Particulars of
the present modification |
Now vide this
modification the Credit facilities granted by the Bank enhanced from .104.100
millions to Rs.189.100 millions to secure the limit specified in the
SDH. The security by way of 1st charge
on all present and future Current Assets of the |
FIXED ASSETS:
- Fax machine
- Air
conditioner
- Software
- Computer
- Furniture and
fixture
- Telephone
equipment
- Office
equipment
- Electrical
installation
- Vehicles
AS PER WEBSITE DETAILS
PROFILE:
As a Records and Information Management Company, they have moved away from the 'Warehousing' mentality. They do more than just 'store' the records. That is why they call there selves a DOCUMENT BANK.
They offer you safe, secure storage of documents and records without sacrificing accurate and timely accessibility to the data whenever you need it.
NAX Document Bank is a cost effective solution that helps you organize the files and documents while maximizing the valuable office space for more productive use. They help drive the revenues up and the costs down.
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.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.