MIRA
INFORM REPORT
|
Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
TRAFIGURA INDIA PRIVATE LIMITED |
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Registered
Office : |
D – 64, Defence Colony, |
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Country : |
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Financials (as
on) : |
30.09.2011 |
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Date of
Incorporation : |
10.12.2009 |
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Com. Reg. No.: |
55-234813 |
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Capital
Investment / Paid-up Capital : |
Rs.230.100 millions |
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CIN No.: [Company Identification
No.] |
U51909DL2009FTC234813 |
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PAN No.: [Permanent Account No.] |
AADCT3128N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Metal Commodities. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 700000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Trafigura Beheer B.V, However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Madhusudan |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-42268550 |
|
Date : |
10.08.2012 |
LOCATIONS
|
Registered Office : |
D – 64, Defence Colony, |
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Tel. No.: |
91-22-42268550 |
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Fax No.: |
91-22-42268599 |
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E-Mail : |
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Website : |
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Corporate Office : |
1st Floor, |
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Tel. No.: |
91-22-25219171/ 25219172 |
DIRECTORS
As on 30.03.2012
|
Name : |
Mr. Raoul Bajaj |
|
Designation : |
Director |
|
Address : |
B – 18, Maharani Bagh, |
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Date of Birth/Age : |
16.11.1974 |
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Qualification: |
Master in Economics and International Law |
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Date of Appointment : |
10.12.2009 |
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DIN No.: |
02280120 |
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|
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|
Name : |
Mr. Sundaresan Raghunath |
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Designation : |
Director |
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Address : |
16, Balmurli, 11th Road, Chembur, Mumbai– 400 071, |
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Date of Birth/Age : |
29.01.1957 |
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Qualification: |
BSC |
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Date of Appointment : |
19.02.2010 |
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DIN No.: |
02851516 |
KEY EXECUTIVES
|
Name : |
Mr. Madhusudan |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.03.2012
|
Names of Shareholders |
|
No. of Shares |
|
Trafigura |
|
23009900 |
|
|
|
100 |
|
TOTAL |
|
23010000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.03.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Metal Commodities. |
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Products : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Trafigura Beheer B.V |
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|
|
|
Customers : |
Wholesalers, Retailers and End Users ·
Poly Cap Private Limited |
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|
|
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
ICICI Bank Limited, Bandra (East) Branch, Mumbai,
·
Development Bank of ·
Standard Chartered Bank ·
HDFC Bank Limited ·
ING Vysya Bank |
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|
|
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Facilities : |
Cash Credit – 2500.000 Millions (From ICICI Bank Limited and
Development Bank of |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
SBP and Associates Chartered Accountants |
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Address : |
1208, Maker Chamber – V, Nariman Point, Mumbai – 400 021, |
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Fax No.: |
91-22-65733712/22871904/22872365 |
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E-Mail : |
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Website: |
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PAN No.: |
ABGFS0748E |
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Holding Company : |
Trafigura Beheer B.V, |
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Other Related Parties: |
·
·
Trafigura AG ·
Trafigura Pte Limited ·
TAG Eco Recycling India Private Limited ·
Trafigura Global Services Private Limited
(Formerly Known as Trafchem Private Limited) |
CAPITAL STRUCTURE
As on 30.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23050000 |
Equity Shares |
Rs.10/- each |
Rs.230.500 millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23010000 |
Equity Shares |
Rs.10/- each |
Rs.230.100 millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
30.09.2011 |
30.09.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
230.100 |
230.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
0.000 |
4.939 |
|
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4] (Accumulated Losses) |
|
(53.434) |
0.000 |
|
|
NETWORTH |
|
176.666 |
235.039 |
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|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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|
2] Unsecured Loans |
|
0.000 |
0.000 |
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|
TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
|
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|
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TOTAL |
|
176.666 |
235.039 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
20.024 |
22.602 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.148 |
0.050 |
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DEFERRED TAX ASSETS |
|
12.823 |
8.511 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
|
1136.906
|
0.000 |
|
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Sundry Debtors |
|
97.048
|
115.220 |
|
|
Cash & Bank Balances |
|
24.422
|
96.981 |
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Other Current Assets |
|
9.840
|
2.333 |
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|
Loans & Advances |
|
113.787
|
26.082 |
|
Total
Current Assets |
|
1382.003 |
240.616 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1239.160
|
25.265 |
|
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Other Current Liabilities |
|
0.000
|
0.000 |
|
|
Provisions |
|
2.559
|
11.475 |
|
Total
Current Liabilities |
|
1241.719 |
36.740 |
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|
Net Current Assets |
|
140.284 |
203.876 |
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MISCELLANEOUS EXPENSES |
|
3.387 |
0.000 |
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|
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TOTAL |
|
176.666 |
235.039 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
30.09.2011 |
30.09.2010 |
|
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|
SALES |
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Income |
|
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Other Income |
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TOTAL |
|
489.105 |
215.116 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
560.203 |
207.765 |
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PROFIT/(Loss)
BEFORE TAX |
|
(71.098) |
7.351 |
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Less |
TAX |
|
12.724 |
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PROFIT/(Loss)
AFTER TAX |
|
(58.374) |
4.939 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
4.939 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
|
(53.435) |
4.939 |
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EARNINGS IN FOREIGN
CURRENCY |
|
376.059 |
201.150 |
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Earnings /(Loss)
Per Share (Rs.) |
|
(2.54) |
0.23 |
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Particulars |
|
2012 |
|
Sales Turnover (Approximately) |
|
3000.000 |
Expected Sales (2012-13): Rs.7000.000 millions
The above information has been parted by Mr. Madhusudan.
KEY RATIOS
|
PARTICULARS |
|
|
30.09.2011 |
30.09.2010 |
|
PAT / Total Income |
(%) |
|
(10.92)
|
2.29 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(5.07)
|
2.79 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
(0.40)
|
0.03 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
7.02
|
0.15 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
9.85
|
1.18 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry
Creditors
|
Particulars |
|
30.09.2011 (Rs. In
millions) |
30.09.2010 (Rs. In
millions) |
|
Sundry Creditors |
|
|
|
|
- Creditors due small micro enterprises |
|
1201.202 |
24.037 |
|
- Creditors due others |
|
37.959 |
1.228 |
|
Total |
|
1239.160 |
25.265 |
|
Sr. No. |
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 |
No |
|
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
two 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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
TRADE REFERENCES:
·
Poly Cap Private Limited
·
Trafigura Beheer B.V
FIXED ASSETS
·
Land and Land
Improvements
·
Office Equipments
·
Computer Equipments
·
Furniture and Fixtures
·
Vehicles
·
Motor Vehicles
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.55.34 |
|
|
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.