%20PRIVATE%20LIMITED%20-%20155727%2001-Oct-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
01.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
WORLDWIDE LOGISTICS ( |
|
|
|
|
Registered
Office : |
6, Narasimhan Street, West Mambalam, Chennai – 600033, Tamil Nadu, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.12.2000 |
|
|
|
|
Com. Reg. No.: |
18-046281 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63011TN2000PTC046281 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEW02113G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW3529P |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
International Air and Ocean Forwarding Services. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 620000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
6, Narasimhan Street, West Mambalam, Chennai – 600033, Tamil Nadu,
India |
|
Tel. No.: |
91-44-24747312 |
|
Mobile No.: |
91-9940143581 (Mr. R R Bala Subramanian) |
|
Fax No.: |
91-44-22314228 |
|
E-Mail : |
|
|
Website : |
http:// www.go2wwl.com |
|
|
|
|
Head Office : |
Worldwide House, No.12, VGP Murphy Square, 1st Cross
Street, St. Thomas Mount, Chennai – 6000016, Tamil Nadu, India |
|
Tel. No.: |
91-44-22328888 (8 Lines) Direct : 91-44-22318299 |
|
Fax No.: |
91-44-22314228 |
|
|
91-9841043914 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
A3/4, Jai Vidayadani Co-operative Society Limited, Om Nagar, Sahar
Pipeline Road, Andheri (East), Mumbai-400099, Maharashtra, India |
|
Tel No.: |
91-22-28310510 / 28310511 / 28310588 |
|
Fax No.: |
91-22-28310536 |
|
|
|
|
Branches : |
Located At ·
Chennai ·
Mumbai ·
New Delhi ·
Bangalore ·
Tirupur ·
Karur ·
Tuticorin ·
Coimbatore ·
Kolkata ·
Panipat ·
Cochin ·
Gandhidham ·
Hyderabad ·
Visakhapatnam ·
Ahmedabad |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Rajmanarguddi Rramanathan Bala Subramanian |
|
Designation : |
Managing Director |
|
Address : |
72/104, Greenways Road, Extnrajaannamalaipuram, Chennai-600028, Tamil
Nadu, India |
|
Date of Birth/Age : |
23.11.1954 |
|
Date of Appointment : |
13.12.2000 |
|
DIN No.: |
00252381 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U63011TN2000PTC046281 |
Worldwide
Logistics (India) Private Limited |
Managing
director |
13-12-00 |
13-12-00 |
- |
Active |
NO |
|
2 |
U60231TN2003PTC052175 |
Tgx
Logistics (India) Private Limited |
Managing
director |
18-12-03 |
18-12-03 |
- |
Strike
off |
NO |
|
3 |
U63090TN2006PTC060696 |
Velogic
India Private Limited |
Nominee
director |
27-07-06 |
27-07-06 |
30-09-09 |
Active |
NO |
|
4 |
U74140TN2006PTC061739 |
WWL
Centre For Logistics Excellence Private Limited |
Director |
14-12-06 |
14-12-06 |
- |
Active |
NO |
|
Name : |
Mr. Pattangi Thirumankaranai Rajkumar |
|
Designation : |
Director |
|
Address : |
Old No. 18, New No. 06, Narasihman Street, West Mambalam, Chennai-
600033, Tamil Nadu, India |
|
Date of Birth/Age : |
12.08.1966 |
|
Date of Appointment : |
13.12.2000 |
|
DIN No.: |
00252388 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U63011TN2000PTC046281 |
Worldwide
Logistics (India) Private Limited |
Director |
13-12-00 |
13-12-00 |
- |
Active |
NO |
|
2 |
U60231TN2003PTC052175 |
Tgx
Logistics (India) Private Limited |
Director |
18-12-03 |
18-12-03 |
- |
Strike
off |
NO |
|
3 |
U63090TN2006PTC060696 |
Velogic
India Private Limited |
Nominee
director |
27-07-06 |
27-07-06 |
30-09-09 |
Active |
NO |
|
4 |
U74140TN2006PTC061739 |
WWL
Centre For Logistics Excellence Private Limited |
Director |
14-12-06 |
14-12-06 |
- |
Active |
NO |
|
Name : |
Mr. Vinayagam Veerabadran |
|
Designation : |
Director |
|
Address : |
24, Azeez Nagar, First Street, Chennai – 600024, Tamil Nadu, India |
|
Date of Birth/Age : |
19.03.1959 |
|
Date of Appointment : |
13.12.2000 |
|
DIN No.: |
00252390 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U63011TN2000PTC046281 |
Worldwide
Logistics (India) Private Limited |
Director |
13-12-00 |
13-12-00 |
- |
Active |
NO |
|
2 |
U60231TN2003PTC052175 |
Tgx
Logistics (India) Private Limited |
Director |
18-12-03 |
18-12-03 |
- |
Strike
off |
NO |
|
3 |
U63090TN2006PTC060696 |
Velogic
India Private Limited |
Nominee
director |
27-07-06 |
27-07-06 |
30-09-09 |
Active |
NO |
|
4 |
U74140TN2006PTC061739 |
WWL
Centre For Logistics Excellence Private Limited |
Director |
14-12-06 |
14-12-06 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
R R Balasubramanian |
160000 |
|
TP Rajakumar |
160000 |
|
V Veerabadran |
160000 |
|
N Bharathwaj |
20000 |
|
Total |
500000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
International Air and Ocean Forwarding Services. |
GENERAL INFORMATION
|
No. of Employees : |
20 (Approximately) |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Bankers : |
·
HDFC Bank ·
Kotak Mahindra Bank ·
Axis
Bank Limited, Chennai Main Branch, No.82, Dr. Radhakrishnan Salai,
Chennai-600004, Tamil Nadu, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A Kasi Meyyappan Chartered Accountant |
|
Address : |
Bridge Port, Basement New No.29, Burkit Road, T. N. Nagar,
Chennai-600017, Tamil Nadu, India |
|
Tel. No.: |
91-44-24315696 / 42070850 |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
Millions |
|
|
|
|
|
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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
150.931 |
111.320 |
76.852 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
155.931 |
116.320 |
81.852 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.048 |
1.199 |
1.365 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1.048 |
1.199 |
1.365 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
156.979 |
117.519 |
83.217 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
22.972 |
25.444 |
29.577 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
2.500 |
2.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
127.038
|
108.618 |
89.941 |
|
|
Cash & Bank Balances |
30.180
|
18.452 |
9.836 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
82.380
|
49.371 |
35.171 |
|
Total
Current Assets |
239.598
|
176.441 |
134.948 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
77.983
|
56.165 |
64.794 |
|
|
Other Current Liabilities |
8.384
|
10.878 |
19.014 |
|
|
Provisions |
19.224
|
19.823 |
0.000 |
|
Total
Current Liabilities |
105.591
|
86.866 |
83.808 |
|
|
Net Current Assets |
134.007
|
89.575 |
51.140 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
156.979 |
117.519 |
83.217 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Service Receipts |
868.364 |
988.958 |
698.619 |
|
|
|
Interest Income |
2.482 |
|
1.074 |
|
|
|
Gain Sale of Investment |
8.739 |
0.000 |
|
|
|
|
TOTAL (A) |
879.585 |
990.314 |
699.693 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Service Expenses |
739.937 |
|
|
|
|
|
Employee Cost |
43.914 |
40.035 |
|
|
|
|
Administrative Expenses |
21.940 |
22.587 |
|
|
|
|
Communication Expenses |
3.948 |
4.772 |
|
|
|
|
Selling Expenses |
1.590 |
1.731 |
|
|
|
|
TOTAL (B) |
811.329 |
928.540 |
664.716 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
68.256 |
61.774 |
[Including Financial |
|
|
|
|
|
|
Expenses and |
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.839 |
0.996 |
Depreciation ] |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
67.417 |
60.778 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.204 |
5.010 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
62.213 |
55.768 |
34.977 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
20.677 |
20.130 |
12.529 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
42.536 |
35.638 |
22.448 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend and Dividend Tax |
2.925 |
1.170 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
39.611 |
34.468 |
NA |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
199.620 |
NA |
NA |
|
%20PRIVATE%20LIMITED%20-%20155727%2001-Oct-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20155727%2001-Oct-2011_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.84
|
3.60 |
3.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.16
|
5.64 |
5.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.69
|
27.62 |
21.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.48 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.68
|
0.76 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
2.03 |
1.61 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS AND PERFORMANCE: -
The company has
made a turnover of Rs.868.364 millions during the year (as against the turnover
of Rs.988.958 millions in 2008-09). The Company is confident of improving its performance
due to servicing of new clients in the current year and is also endeavouring to
strengthen its base and working on increasing its sales in the current year.
FORM 8
|
Corporate
identity number of the company |
U63011TN2000PTC046281 |
|
Name of the
company |
WORLDWIDE
LOGISTICS (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
6, Narasimhan Street, West Mambalam, Chennai – 600033, Tamil Nadu,
India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Axis Bank
Limited, Chennai Main Branch, No.82, Dr. Radhakrishnan Salai, Chennai-600004,
Tamil Nadu, India |
|
Nature of
instrument creating charge |
1. Deed of
Hypothecation of Current Assets (Stock and Book Debts) 2. Declaration
cum Confirmation Deed. |
|
Date of instrument
Creating the charge |
17.03.2008 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest BPLR - 2.75% i.e.
12% p.a. (Present BPLR 14.75%) Terms of repayment Repayable on
Demand Margin 25% Extent and operation of the charge As per the
Sanction Letter Other Nature of
Facility Amount (in
Millions) Cash Credit 20.000 All other terms and
conditions as per the Sanction Letter and Agreements executed on 17.03.2008 |
FIXED ASSETS
·
Land and Building
·
New Flat
·
Office Equipments
·
Furniture and Fixtures
·
Cycle
·
Vehicles
·
Computer Software
·
Temporary Wooden
Structure
·
Leasehold Property
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. 48.93 |
|
|
1 |
Rs. 76.51 |
|
Euro |
1 |
Rs. 66.64 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--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 |
|
51 |
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.