MIRA
INFORM REPORT
|
Report Date : |
26.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
P. B. L. TRANSPORT CORPORATION PRIVATE LIMITED |
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|
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Registered
Office : |
D No. 47-10-13, 1st Floor, Rednam Plaza, 2nd
Road, Dwarakanagar, Visakhapatnam - 530001, Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
12.12.1995 |
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Com. Reg. No.: |
022556 |
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Capital
Investment / Paid-up Capital : |
Rs.3.100 Millions |
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CIN No.: [Company Identification
No.] |
U63011AP1995PTC022556 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter Of Complete Building Solutions. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 526220 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. General position of
the company is good. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/Factory : |
D No. 47-10-13, 1st Floor, Rednam Plaza, 2nd
Road, Dwarakanagar, Visakhapatnam - 530001, Andhra Pradesh, India |
|
Tel. No.: |
91-891-6661377 |
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Fax No.: |
91-891-6661577 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Ramayya Poosarla Gupta |
|
Designation : |
Director |
|
Address : |
50-121-30, Ground Floor, Seethammadhara, Visakhapatnam – 530013,
Andhra Pradesh, India |
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Date of Birth/Age : |
07.07.1940 |
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Date of Appointment : |
12.12.1995 |
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|
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Name : |
Mrs. Bhagyalakshmi Poosarla |
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Designation : |
Director |
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Address : |
50-121-30, Ground Floor, Seethammadhara, Visakhapatnam – 530013,
Andhra Pradesh, India |
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Date of Birth/Age : |
29.10.1946 |
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Date of Appointment : |
12.12.1995 |
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|
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|
Name : |
Mr. Rajesh Poosarla |
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Designation : |
Director |
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Address : |
50-121-30, Ground Floor, Seethammadhara, Visakhapatnam – 530013,
Andhra Pradesh, India |
|
Date of Birth/Age : |
28.09.1970 |
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Date of Appointment : |
20.11.1998 |
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|
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Name : |
Mr. Venkata Chinnam Appa Rao |
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Designation : |
Director |
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Address : |
Plot No.80 B, Kameshwari Nilayam, Pandurangapuram Layout,
Visakhapatnam – 530003, Andhra Pradesh, India |
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Date of Birth/Age : |
03.06.1960 |
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Date of Appointment : |
01.12.1998 |
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|
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Name : |
Mrs. Laxmi Chinnam Venkata |
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Designation : |
Director |
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Address : |
Plot no.201, 2nd Floor, My House Fem Hills, Somajiguda,
Hyderabad – 500082, Andhra Pradesh, India |
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Date of Birth/Age : |
03.06.1960 |
|
Date of Appointment : |
01.12.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ramayya Poosarla Gupta |
|
9990 |
|
Bhagyalakshmi Poosarla |
|
30950 |
|
Venkata Chinnam Appa Rao |
|
10000 |
|
Rajesh Poosarla |
|
225790 |
|
S M Agarwal |
|
500 |
|
Teegala Padmavathi |
|
100 |
|
Teegala Sanyasaiah |
|
100 |
|
Archana Poosarla |
|
3500 |
|
P B L Logistics Limited, Visakhapatnam |
|
20000 |
|
Ramayya Poosarla Gupta (HUF) |
|
8000 |
|
Rajesh Poosarla (HUF) |
|
1000 |
|
Kolluru Sireesha |
|
50 |
|
Shobha Poosarla |
|
10 |
|
T Yashoda Gowri |
|
10 |
|
Total |
|
310000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
6.45 |
|
Directors or relatives of directors |
|
90.65 |
|
Other top fifty shareholders |
|
2.90 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter Of Complete
Building Solutions. |
GENERAL INFORMATION
|
Bankers : |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W,
Mumbai - 400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R K Poosarla Associates Chartered Accountant |
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Address : |
2nd Floor, Rednam Plaza, 47-10-1/12, 2nd Floor,
Dwarkanagar, Visakhapatnam – 530016, Andhra Pradesh, India |
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Tel No.: |
91-891-2549515/2549162 |
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Email: |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
310000 |
Equity Shares |
Rs. 10/- each |
Rs.3.100 Millions |
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|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.100 |
3.100 |
3.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
128.455 |
103.979 |
75.264 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
131.555 |
107.079 |
78.364 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
89.977 |
84.464 |
100.458 |
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|
2] Unsecured Loans |
21.887 |
9.464 |
11.345 |
|
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TOTAL BORROWING |
111.864 |
93.928 |
111.803 |
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|
DEFERRED TAX LIABILITIES |
10.266 |
8.775 |
7.155 |
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TOTAL |
253.685 |
209.782 |
197.322 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
144.679 |
144.647 |
124.379 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
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|
INVESTMENT |
1.193 |
1.193 |
1.193 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
82.465
|
56.019 |
64.166 |
|
|
Cash & Bank Balances |
5.735
|
3.813 |
6.803 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.00 |
|
|
Loans & Advances |
46.846
|
20.646 |
22.896 |
|
Total
Current Assets |
135.046
|
80.478 |
93.865 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.129
|
10.078 |
16.735 |
|
|
Other Current Liabilities |
7.104
|
6.413 |
5.264 |
|
|
Provisions |
0.000
|
0.045 |
0.116 |
|
Total
Current Liabilities |
27.233
|
16.536 |
22.115 |
|
|
Net Current Assets |
107.813
|
63.942 |
71.750 |
|
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
|
|
|
TOTAL |
253.685 |
209.782 |
197.322 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
|
SALES |
|
|
|
|
|
|
|
Sales |
330.826 |
288.166 |
350.684 |
|
|
|
Other Income |
0.463 |
0.288 |
5.841 |
|
|
|
TOTAL |
331.289 |
288.454 |
356.525 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
292.563 |
243.953 |
302.089 |
|
|
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|
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|
PROFIT BEFORE
TAX |
38.726 |
44.501 |
54.436 |
|
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|
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Less |
TAX |
14.247 |
15.786 |
18.572 |
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|
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|
|
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|
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|
PROFIT AFTER TAX
|
24.479 |
28.715 |
35.864 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.39
|
9.95 |
10.06 |
|
|
|
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.71
|
15.42 |
15.52 |
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.84
|
19.77 |
24.94 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.41 |
0.69 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.06
|
1.03 |
1.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.96
|
4.87 |
4.24 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The company has
also got accreditation for the ISO in Quality Management System with ISO standard
of ISO 9001: 2008 during the year and is striving towards continuous
improvement. The Company has also got accredited for "HIGH" level of
Credit Worthiness by CRISIL in relations to other SME across India.
During the year the Company
has maintained steady pace and has registered a growth of 15% in its turnover
compared to the previous year. The company have acquired new equipment and is
concentrating on the Even though the turnover has been increased there is a
decrease in profits of the Company. The decrease in profits is mainly due to
abnormal increase in fuel prices and also increased overheads of the Company.
Directors have taken effective measures with cautious approach to decrease the
overheads of the Company.
The performance is
attributable to the company's additional thrust on new markets, better service
and additional capacities introduced during the year. Improvement of fixed and
working capital efficiencies, productivity increases, and efficient supply
chain management has enabled the company reach greater performance heights.
During Last year the company has acquired Volvo Prime movers and Tratec Hydraulic Axles, has strengthen its base. Since then, due to the active involvement of the management of the company and through the sustained efforts of several integration teams in the areas of Purchasing, Maintenance, Quality, Marketing and Business Development and Management Reporting and Support Systems have acquired greater cost and service efficiencies.
The success with respect to
operational and financial efficiencies, together with its increased market
presence and future strategies for growth, reflect the bright future that
awaits the company in future. Under the leadership of the management, we have
witnessed the blend of cultures and a team spirit that has crossed geographical
state boundaries, to make the company a truly national Corporation with a
formidable presence in the south, east and west by providing better services
and efficient results has made a increase in its business space for
transportation. Handling and Hiring Service providers.
FORM 8:
|
Corporate identity number of the company |
U63011AP1995PTC022556 |
|
Name of the company |
P.B.L.TRANSPORT CORPORATION PRIVATE
LIMITED |
|
Address of the registered office or of the
principal place of business in |
D.NO.47-10-13, 1ST Floor, Rednam Plaza, 2nd Road, Dwarakanagar, Visakhapatnam, Andhra
Pradesh, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property |
|
Particular of charge holder |
HDFC BANK LIMITED |
|
Nature of instrument creating charge |
Agreement Loan and Guarantee. Contracts No:3347294 = Rs.7.650 Millions |
|
Date of instrument Creating the charge |
02/12/2010 |
|
Amount secured by the charge |
Rs.7.650 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Interest @ 11% p.a. Terms of Repayment The Loan is repayable in 47 EMIs of
Rs.0.201 Million Starting from 5th January, 2011 ending to 5th November 2014. Margin As may stipulated by bank from time to
time Extent and Operation of the charge The Company hypothecates to and charges in
favour of the Bank by way of first and exclusive charge of the Vehicle/
equipment described in Item No. 15 as security for the repayment/payment by
the company of the loan granted or to be granted to the company by the Bank
together with all fees, interest, costs and expenses incurred/to be incurred
by the Bank and all other monies payable or to become payable by the company
to the Bank. Others The Bank shall be absolutely entitled and
have full power and authority to sell, assign or transfer in any manner, in
whole or in part, and in such manner and on such terms as the Bank may
decide, including reserving a right to the Bank to retain its power to
proceed against the company on behalf of the purchaser, assignee or
transferee, any or all outstanding dues of the company, to any third party of
the Bank's choice without reference to or without written intimation to the
company |
|
Short particulars of the property charged |
Hypothecation of 1 No of Vehicle Namely :
Kh 500 Crawler Crane, (Year Of Manufacture ) |
FIXED ASSETS:
·
Trailers
·
Cranes
·
Forklifts
·
Computers
·
Software
·
UPS Systems
·
Furniture and Fixtures
·
Electrical Fittings
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
|
1 |
Rs.73.31 |
|
Euro |
1 |
Rs.63.70 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.