MIRA
INFORM REPORT
|
Report Date : |
10.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ROLEX LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
85, 1st Floor, 5th Main, 1st Cross,
Domlur 2nd Stage, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
04.10.2001 |
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Com. Reg. No.: |
08-29613 |
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|
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Paid-up Capital
: |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900KA2001PTC029613 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRR02854F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Logistic Services |
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|
No. of Employees
: |
200 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
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 fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh Balekudru Upadhya |
|
Designation : |
Director |
|
Contact No.: |
91-80-41483210 |
|
Date : |
27.03.2012 |
LOCATIONS
|
Registered Office : |
85, 1st Floor, 5th Main, 1st Cross,
Domlur 2nd Stage, |
|
Tel. No.: |
91-80-41483210 |
|
Mobile No.: |
91-9845011670 (Mr. Ramesh) |
|
Fax No.: |
91-80-41483211 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Branches : |
Located at: ·
·
Kolkata ·
Mumbai ·
Chennai ·
·
·
Pune ·
·
Ahmedabad |
DIRECTORS
As On 28.09.2010
|
Name : |
Mr. Ramesh Balekudru Upadhya |
|
Designation : |
Director |
|
Address : |
490 Sannidhi 5th Cross, Bhuvaneshwari Nagar, Hebbal Dasarahalli,
Main Road, Bangalore – 560024, Karnataka, India |
|
Date of Birth/Age : |
01.06.1956 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
04.10.2001 |
|
DIN No.: |
00919911 |
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 |
U72900KA2001PTC029613 |
ROLEX
LOGISTICS PRIVATE LIMITED |
Director |
04-10-01 |
04-10-01 |
- |
Active |
|
|
2 |
U72900KA2004PTC035062 |
AMATRA
INFOTECH PRIVATE LIMITED |
Director |
19-11-10 |
19-11-10 |
- |
Active |
NO |
|
Name : |
Mrs. Bhagyalakshmi Haleangadi |
|
Designation : |
Director |
|
Address : |
490 Sannidhi 5th Cross, Bhuvaneshwari Nagar, Hebbal
Dasarahalli, Main Road, Bangalore – 560024, Karnataka, India |
|
Date of Birth/Age : |
12.06.1964 |
|
Qualification : |
M. Sc. |
|
Date of Appointment : |
04.10.2001 |
|
DIN No.: |
00460810 |
|
|
|
|
Name : |
Ms. Deeksha Upadhya |
|
Designation : |
Director |
|
Date of Birth/Age : |
13.04.1991 |
|
Qualification : |
H.S.C |
|
Date of Appointment : |
15.03.2010 |
|
DIN No.: |
03521045 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 28.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Balekudru Ramesh Upadhya |
|
50000 |
|
Haleangadi Bhagyalakshmi |
|
25000 |
|
Deeksha Upadhya |
|
25000 |
|
Total |
|
100000 |
As On 28.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Logistics Services |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 Days and 60 days) |
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Purchasing : |
Cash and Credit (30 Days and 60 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and Manufacturers |
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No. of Employees : |
200 (approximately) |
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Bankers : |
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Facilities : |
Cash Credit: Rs. 20.000
Millions (From Axis Bank)
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Prakash and Rajaguru Chartered Accountant |
|
Address : |
185/7, |
|
Pan No.: |
AALFP5252C |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000
Millions |
|
|
|
|
|
Note:
(Of the above, 49,000 hove been issued for consideration other thon cash)
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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
21.838 |
24.354 |
21.709 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
31.838 |
34.354 |
31.709 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
1.502 |
25.507 |
|
|
TOTAL BORROWING |
0.000 |
1.502 |
25.507 |
|
|
DEFERRED TAX LIABILITIES |
3.929 |
3.430 |
3.071 |
|
|
|
|
|
|
|
|
TOTAL |
35.767 |
39.286 |
60.287 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.255 |
19.051 |
18.437 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
23.296
|
94.833 |
128.501 |
|
|
Cash & Bank Balances |
6.514
|
6.790 |
5.337 |
|
|
Other Current Assets |
2.543
|
12.198 |
25.984 |
|
|
Loans & Advances |
15.054
|
38.661 |
11.435 |
|
Total
Current Assets |
47.407
|
152.482 |
171.257 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.553
|
77.315 |
107.936 |
|
|
Other Current Liabilities |
18.208
|
52.365 |
19.465 |
|
|
Provisions |
10.134
|
2.567 |
2.008 |
|
Total
Current Liabilities |
28.895
|
132.247 |
129.409 |
|
|
Net Current Assets |
18.512
|
20.235 |
41.848 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
35.767 |
39.286 |
60.287 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
46.458 |
95.122 |
|
|
|
Other Income |
|
1.649 |
0.632 |
|
|
|
TOTAL |
|
48.107 |
95.754 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
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|
Advertising Expenses |
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|
|
|
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TOTAL |
|
41.211 |
91.585 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
6.896 |
4.169 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
3.680 |
1.524 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
3.216 |
2.645 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
32.16 |
26.45 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
48.000 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs.60.000 Millions
The above information has been parted by Mr. Ramesh Balekudru Upadhya
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.69
|
2.76 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.84
|
4.38 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.66
|
2.43 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.12 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
3.89 |
4.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.15 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
Yes |
Note:
The Registered office of the company has been shifted from 237/82/2, Hosur
Main Road, Singasandra Village, Begur Hobli, Bangalore 560068, Karnataka, India
to the present address w.e.f 12.02.2009.
OVERVIEW OF THE
COMPANY:
Subject was
incorporated on 04.10.2001 as a company with the limited liability under the
companies act, 1956. The principal business of the company is the provision of
logistics services; it also acts as an import/export house and carries on
thereto related and ancillary activities.
REVIEW OF PERFORMANCE:-
During the year, the
Company posted a revenue decline of 49.76% over the previous year, i.e. Rs
48.107 millions during 2009-10 as against Rs 92.248 millions during the
previous year. There was a net profit of Rs 3.216 millions as against a net
profit of Rs. 2.645 millions during the previous year. The Company is expected
to show better results in the years to come.
Form 8:
|
This Form is for |
Modification of charge |
|
Charge
identification number of the charge to be modified |
90195836 |
|
Corporate identity
number of the company |
U72900KA2001PTC029613 |
|
Name of the
company |
ROLEX LOGISTICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
237/82/2, |
|
Type of charge |
Immovable Property Book Debts Movable Property |
|
Particular of
charge holder |
Axis Bank
Limited, E Squire Centre No. 9, E-mail : tr_jairam@vsnl.net |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Deed Equitable
Mortgage of property by deposit of title Deeds [both the above pertain
to the same charge] |
|
Date of
instrument Creating the charge |
30.06.2007 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC/Bills
discounting/BG Sub limit of CC – BPLR – 1.00% i.e. 14.00% p.a. payable at
monthly rests Terms of
repayment CC – Running
Account Repaybale on demand Bills
Discounting/BG – usance not exceeding 90 days Margin CC – Book debts
[cover period 90 days] 25% BG – Cash margin
25% 100% in case of disputed
liabilities Extent and
operation of the charge The charge shall
operate to the extent of Rs. 20.000 Millions plus Commission, Interest,
costs, Expenses and other charges thereon. Others The above said
amount of Rs. 20.000 Millions comprises of CC of Rs. 20.000 Millions [Bill
Discounting/BG sub limit of CC of Rs. 2.500 Millions |
|
Short particulars
of the property charged |
Hypothecation by
way of charge on all present and future current assets comprising stocks and book debts and entire fixed
assets of the company stored/installed at No. 237/82/2, Hosur Main Road,
Bangalore or at any other place and Equitable mortgage of Flat bearing No.
G-2 on the Ground floor building Skanda Residency of 407.68 sq. fts. UDS of
schedule A property at BMP No. 40-41, 60 ft road, Geddalahalli, Sanjaynagar,
Bangalore totally measuring 3800 sq. fts. |
|
Date of latest
modification prior to the present modification |
14.09.2006 |
|
Particulars of the
present modification |
By the above the
amount secured by the charge stands increased from Rs. 10.000 Millions to Rs.
20.000 Millions [all the other
terms and conditions remain unchanged] |
Fixed Assets:
- Land and Building
- Office equipments
- Plant and machinery
- Computer – software
- Computer – hardware
- Vehicles
- Furniture and fixtures
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.51.28 |
|
|
1 |
Rs.81.38 |
|
Euro |
1 |
Rs.67.01 |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.