MIRA
INFORM REPORT
|
Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
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Registered
Office : |
3rd Floor, Plot No.
61, Road No. 13, MIDC, Andheri (East), Mumbai – 400093, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of Incorporation
: |
03.07.1981 |
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Com. Reg. No.: |
11-24747 |
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Capital
Investment/ Paid-up Capital: |
Rs.117.659 Millions |
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CIN No.: [Company Identification
No.] |
L27320MH1981PLC024747 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMI05518C |
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PAN No.: [Permanent Account No.] |
AAACI2679A |
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Legal Form : |
A Public Limited Liability company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject’s principal activity is to provide end-to-end services and
solutions in logistics and supply chain management |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 201000000 |
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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 a well-established and reputed Company having fine track. Financial
Position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
BBB- |
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Rating Explanation |
Having moderate degree of safety timely servicing
of financial obligation it carry moderate credit risk |
|
Date |
September 2011 |
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.
LOCATIONS
|
Registered Office : |
3rd Floor, Plot No. 61,
Road No. 13, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-40485300 |
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Fax No.: |
91-22-40495777/40485399 |
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E-Mail : |
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Website : |
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Corporate Office : |
301 Ceejay House, Level 3,Shiv Sagar
Estate, F-Block, Dr. Annie Besant Road, Worli, Mumbai 400018, Maharashtra,
India. |
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Tel No.: |
91-22-42305500 / 1/ 2 |
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Fax No.: |
91-22-42305555 |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Ajay S Mittal |
|
Designation : |
Chairman and Managing Director |
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Qualification : |
Commerce Graduate and M.B.A. from |
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Name : |
Mrs. Archana A Mittal |
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Designation : |
Joint Managing Director |
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Qualification : |
Arts Graduate |
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Name : |
Mr. V Shiv Kumar |
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Designation : |
Executive Director |
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Qualification : |
Science and Law Graduate and an Associate Member of The |
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Name : |
Mr. Sandesh Chonkar |
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Designation : |
Executive Director |
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Qualification : |
Commerce Graduate and a Chartered Accountant |
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Experience : |
17 Years of Senior Management experience in financial, commercial,
logistics, trading and operational area.
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|
Profile : |
He is currently involved in financial control, strategic planning and
business process development. |
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Name : |
Mr. Sandesh R .Chonkar |
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Designation : |
Executive Director |
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Name : |
Mr. Ashish Bairagra |
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Designation : |
Independent Director and Chairman of Audit Committee |
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Qualification : |
Commerce Graduate and Chartered Accountant |
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|
Name : |
Prof. G Raghuram |
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Designation : |
Independent Director |
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Qualification : |
PhD (Northwestern University) and PGDM (IIM-A) |
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Profile : |
Prof Raghuram is a professor in the Indian Institute of
Management, Ahmedabad. His specialization is in infrastructure and
transportation systems, and supply chain and logistics management. His
research, consultancy, case studies and publications focus includes railways,
ports and shipping, air and road sector, service organizations and issues in
logistics and supply chain management. He has also taught at |
|
Directorship held
in other Companies: |
1. India Infrastructure Finance Company Limited 2. Take Solutions Limited 3. Alcock Ashdown (Gujrat) Limited 4.
DARCL Logistics limited |
|
Committee position
held in other companies: |
1. Member
of Audit Committee of 2. Infrastructure Finance Company Limited 3. Member of Audit Committee of Konkan 4.
Railway Corporation Limited |
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Name : |
Mr. James Beltran |
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Designation : |
Independent Director |
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Qualification : |
LLB from |
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Profile : |
Mr. James Beltran
currently serves as Chairman, MAA International ( |
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Directorship held
in other Companies: |
MAA International
Assurance Limited 2. MAA
International Investments Limited 3. MAA
International Corporation Limited 4. Melewar
Holdings Sdn Bhd 5. Solidarity
B.S.C. 6. Solidarity
General Takaful B.S.C. 7. Solidarity
Family Takaful B.S.C. |
|
Committee position
held in other companies: |
Chairman of Audit
Committee of Solidarity General Takaful
B.S.C. 2. Chairman of
Audit Committee of Solidaity Family Takaful
B.S.C. 3. Deputy
Chairman of Audit Committee of Solidarity B.S.C. |
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|
Name : |
Mr. Rishabh Shah |
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Designation : |
Independent Director |
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Qualification : |
Arts and Law Graduate |
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Name : |
Mr. Mukesh Kacker |
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Designation : |
Independent Director |
KEY EXECUTIVES
|
Global advisory board |
·
Prof Ashutosh Varshney ·
Fleming Jacobs ·
Dr. Frank Jugren Rischter ·
Prof, G. Raghunathan ·
Dr. jerry (Yoram) Wind ·
Dr. John L Gattorana ·
Michael Proffitt ·
Paul W Bradley ·
Richard Taffet ·
Wiilam P Adamopouls |
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Name : |
Mr. Hasmukh Daftary |
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Designation : |
Head – Procurement and Contracts |
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Name : |
Mr. Nijay N Nair |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Pawanexh Kohii |
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Designation : |
Head – Solutions and Transitions |
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Name : |
Mr. Punnet M Kayaastha |
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Designation : |
Head -Services Excellence |
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Name : |
Sajal Mittra |
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Designation : |
Chief Executive Officer - Arshiya Rail Infrastructure Limited |
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Name : |
Mr. Saurav Ghosh |
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Designation : |
Head -Transport and Handling and ASCM |
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Name : |
Major Suhas Thakar |
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Designation : |
Chief Infrastructure and Registry Officer |
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Name : |
Uday Pimprikar |
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Designation : |
Chief Planning and Commercial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
25434710 |
43.23 |
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|
25434710 |
43.23 |
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Total shareholding of Promoter and Promoter Group (A) |
25434710 |
43.23 |
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(B) Public Shareholding |
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|
1310273 |
2.23 |
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|
350 |
0.00 |
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|
7772400 |
13.21 |
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|
9083023 |
15.44 |
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|
5832134 |
9.91 |
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|
4605318 |
7.83 |
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|
6433694 |
10.94 |
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|
7440593 |
12.65 |
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Trusts |
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|
1000 |
0.00 |
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|
49837 |
0.08 |
|
|
133151 |
0.23 |
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|
40234 |
0.07 |
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|
3306850 |
5.62 |
|
|
450000 |
0.76 |
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|
24311739 |
41.33 |
|
Total Public shareholding (B) |
33394762 |
56.77 |
|
Total (A)+(B) |
58829472 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
- |
- |
|
Total (A)+(B)+(C) |
58829472 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Subject’s principal activity is to provide end-to-end services and
solutions in logistics and supply chain management |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Axis Bank Limited ·
Central Bank of ·
Dena Bank ·
Federal Bank ·
Karur Vysya Ban ·
UCO Bank |
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Facilities : |
Rs.
In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
MGB and Company Chartered Accountants |
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Address : |
Jolly Bhawan – 2, 1st Floor, New Marine Lines, Mumbai –
400020, |
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Related Party: |
·
Arshiya Hong Kong Limited, ·
Cyberlog Technologies International Pte
Limited, ·
Arshiya Supply Chain Management Private
Limited, ·
Arshiya Rail Infrastructure Limited, ·
Arshiya Domestic Distripark Limited, ·
Arshiya FTWZ Limited, ·
Arshiya International Singapore Pte Limited, ·
Arshiya Logistics LLC, ·
Arshiya Logistics WLL, ·
Arshiya Logistics LLC, ·
Cyberlog Technologies Inc. # (Business
discontinued and under process of dissolution), · Cyberlog Technologies (UAE) FZE # United Arab Emirates ·
Cyberlog Technologies Hong Kong Limited # ·
Arshiya Technologies ( ·
Arshiya Northern Domestic Distripark Limited
## ·
Arshiya Southern Domestic Distripark Limited ## ·
Arshiya Eastern Domestic Distripark Limited ## ·
Arshiya Western Domestic Distripark Limited ## ·
Arshiya Central Domestic Distripark Limited ## ·
Arshiya ·
Arshiya ·
Arshiya Western FTWZ Limited@ India ·
Arshiya Exim Trading Limited@ India ·
Arshiya Central FTWZ Limited @ India ·
Arshiya Rail Siding & Infrastructure
Limited.$ ·
Arshiya Transport and Handling Limited (w.e.f. 31
March ·
2011) |
|
* Subsidiary Companies
of Arshiya Hong Kong Limited
# Subsidiary
Companies of Cyberlog Technologies International Pte Limited
## Subsidiary
Companies of Arshiya Domestic Distripark Limited
@ Subsidiary
Companies of Arshiya FTWZ Limited.
$ Subsidiary Company
of Arshiya Rail Infrastructure Limited.
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.2/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58829472 |
Equity Shares |
Rs.2/- each |
Rs.117.659
Millions |
|
|
|
|
|
Of the above:
a) 22,627,500 (22,627,500) equity shares of ` 2 each (fully paid up) are issued as bonus shown by capitalization of Securities Premium
b) 1,560,000 (1,560,000) equity shares allotted to
shareholders of BDP (
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 |
|
|
|
|
|
1] Share Capital |
117.659 |
117.506 |
117.506 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5026.161 |
4839.050 |
4753.565 |
|
|
4] Employee stock options outstanding |
4.995 |
11.829 |
29.905 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5148.815 |
4968.385 |
4900.976 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6556.478 |
3064.114 |
789.916 |
|
|
2] Unsecured Loans |
240.000 |
529.995 |
0.000 |
|
|
TOTAL BORROWING |
6796.478 |
3594.109 |
789.916 |
|
|
DEFERRED TAX LIABILITIES |
55.080 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12000.373 |
8562.494 |
5690.892 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3308.536 |
175.904 |
96.513 |
|
|
Capital work-in-progress |
4901.330 |
6058.122 |
3446.337 |
|
|
|
|
|
|
|
|
INVESTMENT |
1135.181 |
1138.304 |
1126.751 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.572 |
1.715 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
951.229
|
914.498
|
574.546
|
|
|
Cash & Bank Balances |
694.868
|
433.057
|
279.696
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
3485.860
|
1937.934
|
774.646
|
|
Total
Current Assets |
5131.957
|
3285.489 |
1628.888 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
935.941
|
747.330 |
270.407 |
|
|
Other Current Liabilities |
1700.605
|
1263.752
|
262.875
|
|
|
Provisions |
99.743
|
84.815
|
76.030
|
|
Total
Current Liabilities |
2736.289
|
2095.897 |
609.312 |
|
|
Net Current Assets |
2395.668
|
1189.592
|
1019.576
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
259.658 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12000.373 |
8562.494 |
5690.892 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4530.135 |
2736.078 |
2568.085 |
|
|
|
Other Income |
224.117 |
93.298 |
99.388 |
|
|
|
TOTAL (A) |
4754.252 |
2829.376 |
2667.473 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
3485.580 |
2227.568 |
2149.677 |
|
|
|
Personnel Cost |
242.332 |
155.297 |
93.072 |
|
|
|
Administrative and Other Expenses |
271.001 |
152.111 |
117.912 |
|
|
|
TOTAL (B) |
3998.913 |
2534.976 |
2360.661 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
755.339 |
294.400 |
306.812 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
315.609 |
45.158 |
8.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
437.730 |
249.242 |
298.618 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
69.610 |
17.984 |
15.639 |
|
|
|
|
|
|
|
|
|
|
Exceptional Items |
|
|
|
|
|
|
Surplus on change in Depreciation policy |
16.111 |
0.000 |
0.000 |
|
|
|
Charges for prematured repayment of loans |
(21.665) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
364.567 |
231.258 |
282.979 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
112.227 |
77.262 |
98.126 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
249.340 |
153.996 |
184.853 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
290.918 |
220.833 |
109.455 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
25.000 |
15.400 |
18.485 |
|
|
|
Dividend |
11.452 |
9.758 |
7.988 |
|
|
|
Tax on Dividend |
70.595 |
58.753 |
47.002 |
|
|
BALANCE CARRIED TO
THE B/S |
433.211 |
290.918 |
220.833 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from logistics operations and related services |
364.832 |
357.100 |
317.776 |
|
|
|
Dividend |
0.000 |
1.302 |
0.000 |
|
|
TOTAL EARNINGS |
364.832 |
358.402 |
317.776 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
298.460 |
33.769 |
1.556 |
|
|
TOTAL IMPORTS |
298.460 |
33.769 |
1.556 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.24 |
2.62 |
3.18 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
30.06.2012 |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
4th
quarter |
5th
Quarter |
|
|
|
|
|
|
|
|
Net sales |
12750.500 |
1436.140 |
1528.490 |
1686.180 |
1816.500 |
|
Total Expenditure |
1025.160 |
1119.740 |
1171.450 |
1335.730 |
1455.530 |
|
PBIDT (Excl OI) |
250.340 |
316.400 |
357.040 |
350.450 |
360.970 |
|
Other Income |
93.870 |
77.010 |
95.910 |
106.990 |
143.980 |
|
Operating Profit |
344.210 |
393.410 |
452.950 |
457.440 |
504.950 |
|
Interest |
143.350 |
152.580 |
217.230 |
278.620 |
323.230 |
|
Exceptional terms |
0.000 |
0.000 |
0.000 |
0.000 |
0.00 |
|
PBDT |
200.860 |
240.830 |
235.720 |
178.820 |
181.720 |
|
Depreciation |
34.830 |
36.920 |
42.470 |
50.060 |
46.670 |
|
PROFIT BEFORE TAX |
166.030 |
203.910 |
193.250 |
128.750 |
135.050 |
|
Tax |
47.920 |
67.550 |
61.870 |
39.480 |
43.100 |
|
Provision and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
118.110 |
136.360 |
131.380 |
89.270 |
91.950 |
|
Extra ordinary items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expense |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
118.110 |
136.360 |
131.380 |
89.270 |
91.950 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.25 |
5.44
|
7.04
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.05 |
8.45
|
11.02
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.32 |
6.68
|
16.40
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.05
|
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.85 |
1.15
|
0.29
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
1.57
|
2.67
|
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
FINANCIAL
PERFORMANCE
Income from Operations, along with other income has increased by 68.03% as
compared to that of the previous year. The Profit before Tax has recorded an
increase of 57.65% over that of the previous year and the Profit After Tax has
increased by 61.91 % over that of the previous year.
BUSINESS AND
FUTURE OUTLOOK
The Company has embarked on a path that they believe will create a
revolution in
With Mumbai and Khurja FTWZ being operational this year, along with
first of the Domestic Distripark in Khurja, they are extremely excited about
the year. With their core business adding consistent momentum, additional
trains being added to rail operations with strategic siding infrastructure
being developed pan
(I) Arshiya Free
Trade and Warehousing Zones (FTWZ)
The FTWZ regulatory framework will give
With FTWZs, their country will be able to leverage 'Soft Infrastructure'
such as skilled manpower, cost competitiveness, regulatory framework, IT
connectivity, as well as 'Hard Infrastructure' such as dedicated
state-of-the-art mega logistics parks, FTWZs, rail connectivity, domestic
distribution hubs 'Distriparks', transport and handling and world class supply
chain management services. FTWZ will be a game changer for international as
well as domestic companies which are importing, exporting or re-exporting
products to and from
(II) Arshiya Rail
Infrastructure
Arshiya Rail Infrastructure started its operations in February 2009. As
at 31 March, 2011, Arshiya Rail Infrastructure Limited has 15 trains to its pan
(III)Arshiya
Domestic Distriparks
Arshiya Domestic Distripark is a venture designed to provide companies
with a strategic hub warehousing for domestic consolidation of goods. These
rail-connected mega consolidation hubs will result in considerable time and
cost reduction.
The first of Arshiya's five planned Domestic Distriparks is
strategically located at the confluence of the Eastern and Western freight
corridors at Khurja (near
A Domestic Distripark has dedicated container yard to process incoming
cargo, customized warehousing facilities, state-of-the-art cargo handling
equipment, skilled manpower, and integrated IT services for complete
visibility, road and rail connectivity. This greatly aids in reducing a
company's capital expenses because such a consolidation point in the region
makes the supply chain more profitable. The development of Domestic Distriparks
will generate substantial economic activity and infrastructure development in
the region in terms of employment to the locals, development of roads, schools,
connectivity, housing, trade, etc.
(IV)Arshiya
Logistics
With 11 years of lineage in integrated logistics solutions, Arshiya
Logistics offers end-to-end Freight Management, Transportation, Document
Management, Customs Clearance and Project Logistics services across the network
of 150+ countries worldwide.
(V) Arshiya Supply
Chain Management
With a 7 year legacy, Arshiya Supply Chain Management provides end-end
supply and demand chain solutions and is committed to evolving end-to-end
strategic and innovative solutions across supply chain management.
(VI)Arshiya
Technology
Provides software solutions for supply chain management and business
process outsourcing. Offers suite of customized web based proprietary solutions
that work to reduce costs, optimize stock levels and cycle time, while
satisfying the need for on-time delivery.
GLOBAL MACRO
ECONOMIC OVERVIEW
The International Monetary Fund's (IMF) world economic outlook 2011 has
projected that the global economy will grow at about 4.5 percent a year in both
2011 and 2012, with developed economies growing at only 2.5 percent while
emerging and developing economies expected to grow at a much higher 6.5
percent. Earlier forecasts of a double-dip recession have not materialized. The
recovery in developed economies, however, remains unbalanced with output still
far below potential. In emerging market economies, such as
The challenge for most emerging market economies is thus quite different
from that of the developed ones - namely how to avoid overheating in the face
of closing output gaps and higher capital flows, and also ensuring that the
present boom-like conditions do not develop into overheating over the coming
year. Inflation pressure is likely to build further as growing production comes
upagainst capacity constraints, with large food and energy price increases,
which weigh heavily in consumption baskets. While there are downside risks to
the global economy due to movements in commodity prices, notably for oil and
geopolitical uncertainty, there is also the potential for upside surprises to
growth in the short term, owing to strong and buoyant demand in emerging and
developing economies. Global trade is recovering with the value of world
merchandise trade, led by Asia especially
Inherent resilience arising from
Average Annual
Real GDP Growth Rate (2005-2010)
GDP growth during 2010-11 reverted to the high growth trajectory. Growth
had moderated in the preceding two years as the global economy slowed down as a
result of global financial crisis. The growth during 2010-11 reflects a rebound
in agriculture and sustained levels of activity in industry and services.
After the opening up of the Indian economy and the financial reforms of
the 1990s, the Indian macro-economic landscape has been transformed.
percent as compared to economies such as
Although India is experiencing a golden period in its prosperity owing
to its consistent GDP growth, huge domestic market, increasing purchasing power
parity, increasing industrial output and foreign investments, the country still
faces unique challenge; hard infrastructure such as roads, rail, ports,
hinterland connectivity and logistics as a whole being the most prominent
variables in the equation. Logistics cost in
of logistics infrastructure across
India's rapid economic growth will be severely hampered by the lack of
state-of-the-art logistics infrastructure solutions such as Free Trade
Warehousing Zones (FTWZ), Rail Infrastructure and global best practices in 3PL
(Third Party Logistics), 4PL (Fourth Party aLogistics) and IT connectivity in
the space. The lack of logistics infrastructure results in a higher transaction
cost of moving products out of the country or within hinterlands of
schemes and stimulus packages will not yield desired results, unless
they are able to substantially cut down these “transaction costs” impeding
their export efforts.
Logistics typically accounts for one of the highest costs of doing
business, second only to materials in manufacturing or cost of goods sold in
wholesaling or retailing. Therefore, targeting this huge cost centre has been a
constant endeavour of most countries over time. Globally, countries have
steadily and successfully brought down logistics cost in a bid to improve their
competitive advantage and curb inflation. Logistics has traditionally been
perceived as a cost centre and companies devote time and resources for cost
rationalization rather than use the logistics as a means for enhancing customer
satisfaction and bolstering revenues. Because it's an unavoidable cost,
logistics has been seen as a complex detail that can be attended to in the
margins of the business. Contrary to the traditional view logistics can provide
competitive advantage resulting in organic growth opportunities. Logistics
encompasses an array of essential activities—from transport, warehousing, cargo
consolidation, and border clearance to in country distribution and payment
systems— involving a variety of public and private agents.
theft and damage. Costs to users are therefore higher than those in
other countries with equivalent logistics infrastructure. The development of
the logistics sector is hampered by poor physical and communications
infrastructure. Slow movement of cargo due to bad road conditions, multiple
check posts and documentation requirements, congestion at seaports due to
inadequate infrastructure, and delay in procedural clearances, coupled with
unreliable power supply and slow banking transactions, make it difficult to
meet the deadlines for international customers. Case in point is due to
bottlenecks not only are the logistics costs for exporting to Europe 50 percent
higher than China, even the time taken is 50 percent longer.
As the second-fastest-growing developing economy in the world,
On the domestic front, lack of logistics infrastructure directly affects
the efficiency of product movement across the hinterland of
·
Less than 8% of India Inc. (manufacturing and
services) out sources its logistics while in the developed world the
outsourcing is done by more than 45% of companies – indicating the level of
sophistication that is required to be brought about in this space and the
tremendous opportunities present in the form of core growth and efficiency
improvement
·
the dominant road transport sector in
·
While
·
·
At present majority of container freight traffic
entering or leaving
·
The average time taken to clear import and export
cargo at ports is about 19 days in
·
Compared to European countries, rail transportation
in
·
Even if
ARSHIYA'S
INTEGRATED SUPPLY CHAIN AND LOGISTICS INFRASTRUCTURE SOLUTIONS – CREATING A
REVOLUTION IN
LOGISTICS
EVOLUTION
Arshiya International envisages to revolutionize India's logistics space
by developing and operating, IT-enabling and delivering best-in-class
state-of-the-art logistics infrastructure by leveraging its unique competency
of combining 'Soft Infrastructure' such as asset-light 3PL (Third Party
Logistics), 4PL (Forth Party Logistics) services, with innovative 'Hard
Infrastructure' such as, FTWZs, Rail Infrastructure, Domestic Distriparks,
Transport and Handling integrated through customized IT solutions, supported by
Arshiya's 10-year lineage in the space.
ARSHIYA'S PERSPECTIVE
FOR CAPITALIZING ON
To make
·
Free Trade and
Warehousing Zones (FTWZs) To enable EXIM cargo Consolidation, Value Addition
and allow
·
Domestic Distriparks
For Domestic distribution,
cargo value addition and consolidation for Rail transportation to remove dependency on road
·
Rail
Infrastructure Solutions
- Comprising of innovative Customized Containers for specific product
types, Service Level agreements on timeline and deliver with Key Performance
Indicators
- State-of-the-Art Rail Terminals at strategic locations across
loading/unloading and churn
·
Integrate Logistics Infrastructure with Global Logistics,
Domestic Supply Chain Management, Transport and Handling and IT Global ocean
and air logistics, domestic forward and reverse supply chain management with
ownership on reduction of working capital and product visibility and control,
through technology
Arshiya's FTWZ,
currently operational 24x7 at Panvel, Mumbai
·
5FTWZs –
Rail Connected, Planned Pan-India
- WEST (Mumbai – Panvel,
Operational since December 2010), NORTH (Khurja Near
·
5Domestic
Distriparks - Planned Pan-India, Complimenting the FTWZ Network
-
First of
the Domestic Distriparks (in Khurja near
150 Train Pan-India Rail Operations
- Providing unique and customized
solutions to marquee customers with long term contracts
- Presently operating 15 trains
Pan-India and one of the most profitable Private Container Train Operators
(PCTO)
- Pan-India Rail Terminal Network
complementing each FTWZ, Domestic Distripark and Rail Operations accelerating
cargo distribution through aggregation
GAME CHANGING
BENEFITS OF ARSHIYA'S FTWZs FOR INDIA'S ECONOMY: imports, exports and
re-exports
IMPORTS:
1.
Flexibility towards end distribution in
2.
Duty deferment benefits (freeing up working capital
and increasing sales )
3.
Quality control capability prior to duty- payment
4.
Exemption on SAD, VAT and CST on imports through
FTWZ
5.
Hassle-free re-export regulatory /duty implications
6.
Reduced buffer stocks
7.
Service Tax exemption on services availed; including
transportation inside
8.
Lowered product costs
9.
Foreign exchange transaction capability
EXPORTS:
1.
Products from
2.
Local Tax Exemption (e.g. CST, Sales Tax, Excise
and VAT) on all activities conducted inside the FTWZ
3.
Export quotas able to be met for companies
exporting into FTWZ
4.
Increased efficiency through lowered reverse
logistics through quality control before dispatch from
5.
Foreign exchange transactions capability
6.
Increasing supply chain efficiencies (forward and
reverse) while enhancing capital cash flow
RE-EXPORTS
1.
Service tax exemption on all activities conducted
inside the FTWZ including rental and labour
2.
Exemption from custom and stamp duty on products
imported into FTWZ; meant for re-export out of
3.
Income tax exemption on profit where applicable
4.
Hassle-free re-export process
5.
Permission of 100% FDI for the set-up of units by
the unit holder of the FTWZ
6.
Ability to leverage
While laying the roadmap of the present government of
BENEFITS TO
Arshiya's FTWZ is a state-of-the-art integrated logistics
infrastructure, with Rail Terminal connectivity, Integrated Container Yard (CY)
infrastructure, 24-hour uninterrupted water and power supply (inclusive of 100%
back-up), facilities including common essential services (Insurance, Banking
and Travel), Business Centre, Exhibition Centre, Fuel Stations,
State-of-the-art and web enabled Security Services, all of which will
facilitate ease of trade and will help in reducing the transaction cost of
product exported or imported through FTWZ.
The units in FTWZ are allowed to warehouse and trade their own goods
with or without any value addition and are also allowed to hold the goods on
behalf of foreign suppliers and buyers and DTA suppliers and buyers as per rule
18(5) of SEZ Rules, 2006 read with instruction no. 49 and 60 issued by Ministry
of Commerce and Industry. The benefits which will accrue to the nation by
foreign suppliers and buyers and DTA suppliers and buyers operating through
units in FTWZ for trading and warehousing (Exports and Imports) are as listed
below:
1.
Transaction Cost Reduction and Benefits for
Exports:
- Allows foreign companies to physically consolidate global products within
India , including those purchased from SEZs, EOUs, DTA units and other national
or global FTWZs; make kits, etc. and export; reducing overall transaction costs
and making Indian market more competitive at the global lvel for global trade
and services
- Enhance exports from
- Improves the industrial image of Indian exports by allowing QA
processes by foreign buyers on Indian soil before actual export; thus enhancing
the acceptance of 'Made-in-India' goods globally
- Reduce costs of reverse logistics of foreign buyers from Indian
exporters; making Indian exporters more competitive in the international market
by reducing transaction costs
- Increased foreign exchange revenue to nation through FTWZ services;
all services including labour, consolidation and shipping will be rendered
against payment in foreign currency
- Increased shipping activity in
and out of
- Increased logistics activity and container traffic in the port;
thereby enhancing port related revenues for the Government of India
- Allows Indian exporters to consolidate purchases from Indian market;
reducing logistics costs and making Indian market more competitive.
·
Transaction Cost Reduction and Benefits for
Imports:
- Diverts external consolidation business, currently carried out in
other foreign territories to Indian shores; by allowing domestic buyer
(importers) to carry out consolidation of purchase within Indian FTWZ. This
will reduce foreign exchange outflow as payments for same services rendered
will be made to Indian workers
- Facilitates the DTA buyers' with option of bulk purchase and local
dispatch in part loads for home consumption or subsequent sale in DTA; thereby
reducing logistics costs and benefiting Indian consumers
- Hubbing at FTWZ allows Indian importer to service local market
piecemeal by servicing a pull mode from consumer; thereby reducing lead time to
Indian consumer and also bringing the Just In Time (JIT) concept in
manufacturing activities, thus reducing transaction cost of product
manufactured in
- Hubbing at FTWZ also allows Indian importer the trouble free option to
re-export surplus or QA rejects; thereby benefiting Indian consumer through
such cost optimization
- Increase in customs revenue to national exchequer for imports; all
imports through FTWZ will be liable to customs duty as per existing norms
- Local presence and minimal lead times will also reduce costs of
imported product; thereby aiding increase in trade volumes and hence increasing
customs duty to national exchequer.
In addition to the specific benefits listed above for Exports and
Imports, in both cases, their country would benefit from this infrastructure
that would make India capable of competing against regional FTWZs in Dubai,
Singapore, Hong Kong, China, thus enabling:
·
Indian skill resources will have the option to
improve and leverage their cost and skill arbitrage by exposure to global
demand and trade; thereby making India capable of sustaining long term
competition from other hubbing and processing Free Trade Zones in the region
·
Added source of foreign exchange saving to the
nation, through services provided within the FTWZ; all skilled services
and facilities provided are paid for in
foreign exchange
·
Socio-economic developmental benefits to the
community and the region; through capacity building and skill up gradation,
ancillary services and from enhanced trade generated
While the FTWZ serve as consolidation hubs for Indian Importers and
Exporters, allowing easier and efficient trade facilitation in the country,
Arshiya strongly believes that the greatest influencer towards reducing
logistics related spends in India would come about by integrating such
consolidation/hubbing centres with Rail connectivity that would enable
aggregated/consolidated movement of product in India through Rail - addressing
rail's current poor market share of 35% in the total domestic freight market.
RAIL AS AN
EFFICIENT MODE OF TRANSPORTATION FOR REDUCING TRANSACTION COSTS:
Even a conservative 7% CAGR growth of the Indian economy over the next
10 years implies that the Indian freight transport system will swell to
approximately 6 billion MT from the current 3 billion MT levels. The present
dependence of their economy to move freight through roads given its
inefficiencies directly results in higher transportation costs in their
country, where logistics costs as a percentage of their GDP is already amongst
the highest in world @ 14%. The more detrimental damage is the loss of product
sanctity through the perils of road transport considering their poor road
infrastructure, poor quality of trucks and sub optimum road connectivity. This
was highlighted by the Honourable Rail Minister's announcement in the last
budget that over Rs 35,000 crores
worth of agricultural produce has suffered in- transit damage in
2009/10.
As the evolution of
Although Arshiya Rail Infrastructure entered the Rail space later than
other private players in February 2009, they have achieved the following as a
testament to its commitment in the space:
·
Is the second largest Private Container Train
Operator (PCTO) in
·
Over the last ten quarters Arshiya Rail has added
15 rakes, servicing customers pan-India towards domestic container rail
movement, with a planned induction of 150 in the next five years
·
Designed and implemented multipurpose customised
containers, providing Rail as a solution to customers, thus increasing
efficiency, lowering overheads and generating faster turnaround times
·
Pan-India Rail Terminal network complementing each
of Arshiya's logistics infrastructure - FTWZ and Domestic Distribution hubs
'Distriparks' thus accelerating cargo distribution through aggregation
·
Provides unique and customized solutions to marquee
customers with long term contracts
THE YEAR UNDER
REVIEW
In the year gone by, Arshiya successfully launched Phase I of
Arshiya's Rail Infrastructure has also seen impressive growth as the
second largest Private Container Train Operator (PCTO). Arshiya Logistics has
also witnessed consistent growth in terms of winning new customers and
increasing business volumes.
Financial
highlights 2010-11 - Based on Standalone Financials
·
Total income increased by 65.57% from Rs.2736.100
Millions in 2009-10 to Rs.4530.100 Millions in 2010-11
·
EBIDTA increased by 156.57% from `294.400 in
2009-10 to `755.300 Millions in 2010-11
·
Net Profits increased by 61.91% from Rs.154.000
Millions in 2009-10 to Rs.249.300 Millions in 2010-11
SEGMENTAL
PERFORMANCE
Amt
in Millions
|
|
Turnove2009-10 |
Turnover 2010-11 |
Y-o-Y increase
/(decrease) |
|
Logistics |
2736.100 |
4321.800 |
57.96% |
|
FTWZ |
- |
20.84 |
- |
|
Total Turnover |
2736.100 |
4530.100 |
65.57% |
|
|
|
|
|
Financial highlights
2010-11 - Based on Consolidated Financials
·
Total income increased by 56.21% from `5258.900
Millions in 2009-10 to `8215.200 Millions in 2010-11
·
EBIDTA increased by 26.59% from `1280.200 Millions
in 2009-10 to `1620.500 Millions in 2010-11
·
Net Profit at Rs.820.100 Millions in 2010-11 as
against Rs.983.100 Millions ( including extraordinary income of Rs.388.9
Millions from sale of software marketing rights) in 2009-10
Segment wise
Performance Review
|
|
Turnove2009-10 |
Turnover 2010-11 |
Y-o-Y increase
/(decrease) |
|
Logistics |
4590.700 |
6203.500 |
35.13% |
|
Software |
185.900 |
63.500 |
(65.87%) |
|
Containerized rail transport operation
|
482.300 |
1692.400 |
250.90% |
|
FTWZ and related Services |
- |
255.900 |
- |
|
Total Turnover |
5258.900 |
8215.200 |
56.21% |
|
|
|
|
|
THE YEAR THAT WILL
FOLLOW
Arshiya International Ltd. will continue its focus on developing and
operating integrated logistics infrastructure solutions across strategic
locations in
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE
QUARTER ENDED JUNE 30 2012
Rs.in Millions
|
|
Quarter Ended |
Year Ended |
||
|
|
30.06.2012 |
31.03.2012 |
30.06.2011 |
31.03.2012 |
|
Net Sales/ Income from Operations |
1816.496 |
1685.947 |
1275.503 |
5855.658 |
|
1. (b) Other Operating Income |
- |
0.229 |
- |
70.645 |
|
Total Income
From operations |
1816.496 |
1686.176 |
1275.503 |
5926.303 |
|
2. Expenditure |
|
|
|
|
|
a. Cost of Raw Materials consumed |
1239.322 |
1100.643 |
853.221 |
3868.031 |
|
b. Employee benefit expenses |
110.331 |
105.458 |
82.500 |
366.265 |
|
c. Depreciation and amortisation expense |
46.666 |
50.061 |
34.831 |
164.279 |
|
d. Other Expenditure |
105.875 |
129.629 |
84.935 |
405.505 |
|
Total
Expenditure |
1502.194 |
1385.791 |
1055.487 |
4804.08 |
|
3. Profit from Operations before
Other Income, Interest and Exceptional Items
(1-2) |
314.302 |
300.385 |
220.016 |
1122.223 |
|
4. Other Income |
143.975 |
106.985 |
93.865 |
373.776 |
|
5. Profit before Interest and Tax
|
458.277 |
407.370 |
313.881 |
1495.999 |
|
6. Interest |
323.228 |
278.622 |
147.850 |
804.058 |
|
7. Profit from Ordinary
Activities before Tax and exceptional
items |
135.049 |
128.748 |
166.031 |
691.941 |
|
8. Exceptional items |
- |
- |
- |
- |
|
9. Profit from Ordinary
Activities before Tax but before exceptional
items |
135.049 |
128.748 |
166.031 |
691.941 |
|
10. Tax Expenses |
43.102 |
39.477 |
47.921 |
216.823 |
|
11. Net profit/(loss) for the period |
91.947 |
89.271 |
118.110 |
475.118 |
|
12. Paid-up Equity Share Capital (face value Rs.2 per share) |
117.659 |
117.659 |
117.659 |
117.659 |
|
13. Reserves excluding revaluation reserve as per balance sheet of
previous accounting year |
- |
- |
- |
5405.557 |
|
14. Earning Per Share |
|
|
|
|
|
a. Basic |
1.56 |
1.52 |
2.01 |
8.08 |
|
b. Diluted |
1.56 |
1.52 |
2.01 |
8.08 |
|
15. Public shareholding |
|
|
|
|
|
- No. of shares |
33394762 |
33394762 |
33394762 |
33394762 |
|
- % of holding (to total shareholding) |
56.77 |
56.77 |
56.77 |
56.77 |
|
Promoters And Promoter Group Shareholding a) Pledged/ Encumbered |
|
|
|
|
|
-Number of Shares |
14041000 |
14919000 |
6477000 |
1491900 |
|
-% of Shares (As a % of the total Shareholding of Promoter and
Promoter Group) |
55.20 |
58.66 |
25.49 |
58.66 |
|
-% of Shares (as a % of the total share capital of the Company) |
23.87 |
25.36 |
11.01 |
25.36 |
|
b) Non Encumbered |
|
|
|
|
|
- Number of Shares |
11393710 |
10515710 |
18937710 |
10515710 |
|
-% of Shares (As a % of the total Shareholding of Promoter and
Promoter Group) |
44.80 |
41.34 |
74.51 |
41.34 |
|
-% of Shares (as a % of the total share capital of the Company) |
19.36 |
17.87 |
32.19 |
17.87 |
|
INVESTOR COMPLAINTS |
30.06.2012 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
4 |
|
Disposed if during the quarter |
4 |
|
Remaining unresolved the end of the quarter |
Nil |
UNAUDITED STANDALONE SEGMENTWISE REPORT FOR THE QUARTER ENDED JUNE 30 2012
|
Sr. No. |
Particulars |
Quarter Ended |
Year Ended |
||
|
1 |
Segment Revenue |
30.06.2012 |
31.03.2012 |
30.06.2011 |
31.03.2012 |
|
|
Logistics |
1522.249 |
1413.185 |
1083.557 |
4978.356 |
|
|
Free trade warehousing zones |
294.247 |
272.991 |
191.946 |
947.947 |
|
|
Total |
1816.496 |
1686.176 |
1275.503 |
5926.303 |
|
2 |
Segment results |
|
|
|
|
|
|
Profit before tax and interest |
|
|
|
|
|
|
Logistics |
266.061 |
270.198 |
207.216 |
998.395 |
|
|
Free trade warehousing zones |
211.446 |
163.548 |
124.925 |
623.623 |
|
|
Unallocated |
(141.527) |
(155.732) |
(89.161) |
(495.616) |
|
|
Total |
335.970 |
278.014 |
242.980 |
1126.402 |
|
|
Less: Interest |
200.921 |
149.266 |
76.949 |
434.461 |
|
|
Profit before
tax |
135.049 |
128.748 |
166.031 |
691.941 |
|
3 |
Capital
employed |
|
|
|
|
|
|
Logistics |
2737.102 |
2484.013 |
1980.547 |
2484.013 |
|
|
Free trade warehousing zones / distripark |
3519.672 |
3066.691 |
2775.229 |
3066.691 |
|
|
Unallocated |
(641.612) |
(27.489) |
(511.147) |
(27.489) |
|
|
Total |
5615.162 |
5523.215 |
5266.924 |
5523.215 |
Notes to
Standalone Results:
1.
The above
Unaudited Financial Results for the quarter ended June 30, 2012 have been
reviewed by the Audit Committee and approved by the Board of Directors at the
meeting held on August 13, 2012.
2.
The Statutory Auditors of the company have carried
out a Limited Review of the Standalone Unaudited Financial Results for theq
uarter ended June 30, 2012.
3.
Other Operating income includes the value of
benefit received on utilization of "Served from
4.
The Board of Directors in its meeting held on March
12, 2012 has approved Scheme of Amalgamation of Arshiya FTWZ Limited (AFTWZL),
Arshiya Domestic Distripark Limited (ADDL) and Arshiya Central FTWZ Limited
(ACFTWZL) (Transferor Companies) with the Company, with the Appointed Date as
April 01,2012.The transferor companies have filed their petitions before the
Hon’ble High Court of Bombay for approval of the said Scheme of Amalgamation.
Subsequently one of the transferor Companies, namely ACFTWZL, with drew from
the Scheme of Amalgamation with the company. Pursuanttothis, AFTWZL and ADDL
have filed amended Scheme of Amalgamation with the Hon’ble High Court of Bombay
for approval.
5. The previous period figures have been regrouped /re-arranged, wherever necessary.
CONTINGENT
LIABILITY NOT PROVIDED FOR IN RESPECT OF:
(Rs. In Millions )
|
|
31.03.2011 |
31.03.2010 |
|
Disputed income tax demands |
4.350 |
6.609 |
|
Claims against the Company not acknowledged as debts |
268.373 |
29.702 |
|
Guarantees issued by banks on behalf of the Company |
162.619 |
242.814 |
|
Guarantees given to banks in respect of loan facilities granted to wholly owned subsidiaries of the company Loans outstanding against such guarantees is Rs.7621.911 (Rs.2105.077) |
11282.075 |
4358.800 |
FIXED ASSETS
- Building
- Leasehold
Improvements
- Furniture and
Fixtures
- Computers
- Vehicles
- Office
Equipments
- Software
- Plant and
Machinery
- Patents
THE NEWS 2012
BUSINESS STANDARD
CISCO SYSTEMS OPTIMIZES ITS
REGIONAL DISTRIBUTION THROUGH ARSHIYA'S MUMBAI FTWZ
June 04.2012
Communication and information technology major Cisco Systems Inc., a
Fortune 500 company headquartered in US has commenced regional distribution
activities from Arshiya International’s Mumbai FTWZ at Panvel catering to its
markets in the Indian subcontinent. Critical network equipment manufactured at
Cisco’s facilities will be imported through this FTWZ for consumption in
The FTWZ will enable Cisco to clear their time-sensitive and critical
networking equipment with short turnaround times, crucial for minimizing network
downtime experienced by Cisco’s customers. Further this will allow them to
reduce extra links in the supply chain and improve the distribution efficiency.
This is the first time that Cisco has designated a regional distribution centre
beyond
Commenting on the start of operations at Arshiya’s Mumbai FTWZ in
Panvel, Mr Dillard Myers, Cisco’s Vice President and Head for Global Service
Supply Chain said “Arshiya’s FTWZ with its strategic location and
state-of-the-art infrastructure will play a critical role in enabling us to
distribute our products to the entire Indian subcontinent and fulfill our
critical service levels within the stipulated timelines in addition to bringing
much required supply chain efficiency in our regional distribution activities.
Arshiya’s FTWZ would provide our Indian and regional businesses a competitive
advantage. Furthermore, apart from the processes at Arshiya, it is the attitude
and like mindedness of the people at Arshiya that sets it apart.”
Ajay S. Mittal, Group Chairman and Managing Director, Arshiya
International Ltd, commented “Cisco is one of our prestigious customers who can
now leverage the FTWZ in Mumbai to optimize their supply chain efficiencies to
enhance their business in
Free Trade and Warehousing Zone (FTWZ) Scheme in India was introduced
under Chapter 7A of the Foreign Trade Policy 2004-09 to create trade related
infrastructure to facilitate the import and export of goods and services with
freedom to carry out trade transactions in free currency, aimed at making India
a global trading hub. Arshiya International Ltd, a Unified Supply Chain
Infrastructure and Solutions Group, is investing in creating FTWZs across
About Arshiya International
Arshiya International Ltd is a Unified Supply Chain Infrastructure and
Solutions Group headquartered in
ARSHIYA I
NTERNATIONAL’S NET PROFIT RISES BY 47%, TOTAL Q1FY13 REVENUE INCREASES BY 54%
Mumbai – August 14, 2012:
Arshiya, a Unified Supp
Mumbai – August 14,
2012: Arshiya, a Unified Supply Chain & Infrastructure Group, announced
consolidated total revenue of Rs. 3418.400 Millions for the quarter-ended June
30, 2012 as against Rs. 2226.000 Millions in the corresponding period last
year; registering an increase of 54%.
Consolidated EBIDTA for Q1FY13 was Rs. 934.500 Millions as against Rs.
546.000 Millions in the corresponding quarter registering a 71 % increase.
Consolidated Net Profit for the quarter also increased 47% to Rs. 346.200
Millions up from Rs. 236.300 Millions
Commenting on the results Mr. Ajay S Mittal – Group Chairman & Managing
Director of Arshiya International Ltd said “We are extremely excited about
Arshiya's FTWZ business gaining further traction and delivering strong results
every quarter since the past seven quarters. The current quarter also landmarks
our achievement of getting a prestigious international company such as CISCO to
begin operations at our FTWZ. Another key landmark in Arshiya’s history is our
strategic tie-up with GATX (a 100 year old US based Rail leasing company) for
leasing of wagons in
About Arshiya International Limited:
Arshiya International Limited is a Unified Supply Chain & Infrastructure
Group headquartered in
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.55.70 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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.