MIRA
INFORM REPORT
|
Report Date : |
16.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SEASPEED CONTAINER PRIVATE LIMITED (w.e.f. 07.05.2009) |
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Formerly Known
as : |
KALKO CONTAINER LINES PRIVATE LIMITED |
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Registered
Office : |
501, Swastik Disa Coporate Park, Opposite Shreyas Cinema, L. B. S.
Road, Ghatkopar (West), Mumbai-400086, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.02.2003 |
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Com. Reg. No.: |
11-139364 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U63012MH2003PTC139364 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK12769B |
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PAN No.: [Permanent Account No.] |
AACCK3562E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter, Importer and Freight Forwarding like Food Tank Co-operation,
Customs Clearance, Freight Booking Services, Transportation, Warehousing. |
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No. of
Employees: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 13000 |
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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. Trade
relations are reported as fir. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Kapil |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-40339200 |
|
Date : |
14.11.2011 |
LOCATIONS
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Registered Office : |
501, Swastik Disa Coporate Park, Opposite Shreyas Cinema, L. B. S. Road,
Ghatkopar (West), Mumbai-400086, Maharashtra, India |
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Tel. No.: |
91-22-40339222 / 10339200 |
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Mobile No.: |
91-9867030103 (Mr. Vivek Kotai) |
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Fax No.: |
91-22-40339299 |
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E-Mail : |
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Website : |
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Branch Office : |
1105, 11th Floor, Pragati’s Devika Tower No.6, Nehru Place,
New Delhi-110019, India. |
DIRECTORS
|
Name : |
Mr. Vivek Lalchand Kotai |
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Designation : |
Director |
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Address : |
Happy Valley, Home Phase, 10-A-24, Flat 1002, Jiniwadi, Manpada, Thane
(West), Mumbai-400607, Maharashtra, India |
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Date of Birth/Age : |
01.12.1971 |
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Date of Appointment : |
10.08.2000 |
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DIN No : |
02083307 |
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Other Directorship :
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Name : |
Mr. Sanjay Nandkumar Kalro |
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Designation : |
Director |
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Address : |
17-A, Ashoka Palace, S.V. Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
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Date of Birth/Age : |
25.09.1969 |
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Date of Appointment : |
10.08.2000 |
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DIN No : |
02083323 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Kapil |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Vivek Lalchand Kotai |
|
5000 |
|
Sanjay Nandkumar Kalro |
|
5000 |
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Total |
|
10000 |
Equity Share Breakup
(AS ON 30.09.2011)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter, Importer and Freight Forwarding like Food Tank Co-operation,
Customs Clearance, Freight Booking Services, Transportation, Warehousing. |
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Services : |
·
Freight
Forwarding / Multi modal Transport LCL Consodilation ·
Linear / NVOCC Operations (non-vessel owning
common carrier) ·
Food Tank Operations ·
Chemical Tank Operations ·
ISO Tank Operations ·
Customs Clearance Freight Booking Services ·
Transportations Warehousing |
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Exports : |
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Products : |
Containers |
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Countries : |
·
Europe ·
Dubai |
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Imports : |
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Products : |
Freight Forwarding |
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Countries : |
·
Europe ·
Dubai ·
Korea |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
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Suppliers : |
VVS Limited |
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Customers : |
·
End Users ·
OEM’s |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat
Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India. ·
Citi Bank, Mumbai, Maharashtra, India |
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Facilities : |
(Rs.
in millions)
(Rs.
in millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
MNRD and Associates Chartered Accountants |
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Address : |
Block No.2, 3rd Floor, abbas Manzil, Sahar Road, Andheri (East),
Mumbai-400099, Maharashtra, India |
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Income-tax PAN of auditor or auditor’s firm : |
AANFM0177B |
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Associate / Sister concern : |
Faredeal Shipping Private Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100
million |
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|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.262 |
2.091 |
1.175 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.362 |
2.191 |
1.275 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
3.409 |
3.815 |
0.089 |
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2] Unsecured Loans |
10.744 |
6.843 |
5.427 |
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TOTAL BORROWING |
14.153 |
10.658 |
5.516 |
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DEFERRED TAX LIABILITIES |
0.175 |
0.101 |
0.000 |
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|
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TOTAL |
17.690 |
12.950 |
6.791 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.487 |
8.460 |
3.157 |
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Capital work-in-progress |
0.000 |
0.110 |
0.800 |
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INVESTMENT |
0.120 |
0.120 |
0.038 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.016 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
0.000
|
0.000 |
0.000 |
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|
Sundry Debtors |
5.296
|
6.487 |
2.521 |
|
|
Cash & Bank Balances |
2.444
|
2.271 |
1.411 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.622
|
3.365 |
2.721 |
|
Total
Current Assets |
11.362
|
12.123 |
6.653 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
3.223
|
4.070 |
2.627 |
|
|
Other Current Liabilities |
0.458
|
3.603 |
1.156 |
|
|
Provisions |
0.598
|
0.190 |
0.090 |
|
Total
Current Liabilities |
4.279
|
7.863 |
3.873 |
|
|
Net Current Assets |
7.083
|
4.260 |
2.780 |
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
TOTAL |
17.690 |
12.950 |
6.791 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SALES |
NA |
NA |
NA |
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|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
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|
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|
PROFIT BEFORE
TAX |
1.701 |
1.224 |
0.643 |
|
|
|
|
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|
Less |
TAX |
0.530 |
0.308 |
0.099 |
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|
|
|
|
|
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|
PROFIT AFTER TAX
|
1.171 |
0.916 |
0.544 |
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.091 |
1.175 |
0.631 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
3.262 |
2.091 |
1.175 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
117.10 |
91.60 |
54.40 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.78
|
5.95 |
6.55 |
|
|
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.56 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.48
|
8.45 |
7.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.65
|
1.54 |
1.72 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
reports |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the Firm |
Yes |
|
3) Constitution
of the Firm |
Yes |
|
4) Premises
Details |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
Background |
--------- |
|
8) No. of
Employees |
Yes |
|
9) Name of
person contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm of last two year |
Yes |
|
12)
Profitability for last three years |
---------- |
|
13) Reasons for
variations <> 20% |
---------- |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
No |
|
16) Details of
Sister concern |
Yes |
|
17) Major Suppliers |
Yes |
|
18) Major
Customers |
Yes |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market
Information |
--------- |
|
22) Litigation
that the firm / promoter involved |
--------- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility Details |
No |
|
25) Conduct of
the banking account |
--------- |
|
26) Buyer visit
details |
--------- |
|
27) Financials,
if provided |
No |
|
28)
Incorporation details, if applicable |
---------- |
|
29) Last account
field at ROC |
---------- |
|
30) Major
Shareholders, if available |
---------- |
NOTE:
The Registered Office of the company has been
shifted from Oberoi Gardens Estates, C-1114-1115, 1st Floor, Off Saki Vihar Road,
Chandicali, Andheri (East), Mumba-400072, Maharashtra, India to the present
address with effect from 10.03.2010
FORM 8:
|
Corporate identity number of the company |
U63012MH2003PTC139364 |
|
Name of the company |
SEASPEED CONTAINER LINES PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Oberoi Gardens Estates, C-1114-1115, 1st Floor, Off Saki Vihar Road, Chandicali,
Andheri (East), Mumbai-400072, Maharashtra, India E-Mail Id: rakesh@mnrd.im |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable Property |
|
Particular of charge holder |
HDFC BankmLimited,
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013,
Maharashtra, India. E-Mail Id: rbbform8@hdfc.com |
|
Nature of instrument creating charge |
Memorandum Recording past transactions of
Creation of Mortgage by Delivery of Title Deeds. |
|
Date of instrument Creating the charge |
31.08.2009 |
|
Amount secured by the charge |
Rs.4.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
a)
Rate
of Interest Interest at the rate as may be
communicated by the Bank from time to time. b)
Terms
of Repayment On Demand. c)
Margin As may be stipulated by the Bank
from time to time. d)
Extent
and operation of the charge The Company created an equitable
mortgage by way of deposit of title deeds in respect of its immovable
properties as stated under item No.15 as security for the due repayment of
Rs.4.000 millions by the Company, including principal amount of the Facility,
interest, liquidated damages, costs, charges and expenses etc. e)
Others Nil |
|
Short Particulars of the property charged |
Immovable properties lying and situated at
Swastik Disa- Corporate Park, Unit No-501, 502,503,Kohinoor Textile Printing Compound,
LBS Marg, Ghatkopar ( West), Mumbai-400 084. |
FIXED ASSETS:
·
Building
·
Office Equipment
·
Computer
·
Motor Vehicle
·
Furniture and Fixture
TRADE REFERENCE:
·
VVS Limited
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.50.56 |
|
|
1 |
Rs.80.30 |
|
Euro |
1 |
Rs.68.79 |
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 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--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.