MIRA
INFORM REPORT
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Report Date : |
10.01.2012 |
IDENTIFICATION DETAILS
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Name : |
TRANSCON FREIGHT SYSTEM PRIVATE LIMITED |
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Registered
Office : |
306, 3rd Floor, Kuntal Modi Estate, B.S. Marg, Ghatkopar (West),
Mumbai-400086, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.01.1996 |
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Com. Reg. No.: |
11-096112 |
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Capital
Investment / Paid-up Capital : |
Rs.1.600 Millions
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CIN No.: [Company Identification
No.] |
U63012MH1996PTC096112 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT11249A |
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PAN No.: [Permanent Account No.] |
AAACT1840N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject act as a shipping, freight and forwarding agent. |
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No. of Employees
: |
80 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 230000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Nathuram |
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Designation : |
Finance Executive |
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Contact No.: |
91-22-66817000 |
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Date : |
10.01.2012 |
LOCATIONS
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Registered Office : |
306, 3rd Floor, Kuntal Modi Estate, B.S. Marg, Ghatkopar
(West), Mumbai-400086, Maharashtra, India
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Tel. No.: |
91-22-66817000 |
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Fax No.: |
91-22-25094061/62 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mrs. Geetha Kanakraj Rubin |
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Designation : |
Director |
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Address : |
Bunglow No. 30, Vasant Vihar Complex, Dr. C.G. Road, Chembur,
Mumbai-400074, Maharashtra, India |
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Date of Birth/Age : |
24.02.1957 |
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Date of Appointment : |
10.01.1996 |
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Din No.: |
00066297 |
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Other Directorship:
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Name : |
Mr. Kanakraj Rogation Rubin |
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Designation : |
Director |
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Address : |
Bunglow No. 30, Vasant Vihar Complex, Dr. C.G. Road, Chembur,
Mumbai-400074, Maharashtra, India |
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Date of Birth/Age : |
21.10.1951 |
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Date of Appointment : |
10.01.1996 |
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Din No.: |
00521675 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Nathuram |
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Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
|
Geetha Kanakraj Rubin |
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80010 |
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Kanakraj Rogation Rubin |
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80010 |
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Total |
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160020 |
AS ON 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject act as a shipping, freight and forwarding agent. |
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Terms : |
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Selling : |
Cash and Credit [30 and 60 days] |
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Purchasing : |
Cash and Credit [30 and 60 days] |
GENERAL INFORMATION
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Customers : |
Others [Corporate] ·
Alkali Metals Limited ·
Alkyl Amines Chemicals Limited ·
Atul Limited ·
Biotor Industries Limited ·
Deepak Nitrite Limited ·
Deepak Novachem Technologies Limited ·
Exo International ·
Finolex Cables Limited ·
Renuka Chemicals ·
Transpek Industry Limited ·
Val Organics Private Limited |
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No. of Employees : |
80 [Approximately] |
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Bankers : |
Citi Bank N.A., Trent House, 2nd Floor, Plot No. C-60, G
Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Desai Associates Chartered Accountants |
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Address : |
104A, Anand Estate, 189A, Sane Guruji Marg, Mumbai-400011,
Maharashtra, India |
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Pan No.: |
AAAFD4921H |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
160020 |
Equity Shares |
Rs.10/- each |
Rs.1.600
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.600 |
1.600 |
1.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
57.346 |
49.555 |
37.689 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
58.946 |
51.155 |
39.289 |
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LOAN FUNDS |
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1] Secured Loans |
38.980 |
38.101 |
39.026 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
38.980 |
38.101 |
39.026 |
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DEFERRED TAX LIABILITIES |
8.464 |
8.239 |
4.864 |
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TOTAL |
106.390 |
97.495 |
83.179 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
84.610 |
80.079 |
56.935 |
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Capital work-in-progress |
1.769 |
1.769 |
0.000 |
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INVESTMENT |
1.171 |
1.171 |
1.171 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
24.673
|
20.959 |
20.281 |
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Cash & Bank Balances |
1.988
|
4.490 |
15.932 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
10.574
|
17.905 |
13.448 |
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Total
Current Assets |
37.235
|
43.354 |
49.661 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
9.603
|
14.480 |
14.031 |
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Other Current Liabilities |
0.801
|
0.867 |
0.927 |
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Provisions |
7.991
|
13.531 |
9.630 |
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Total
Current Liabilities |
18.395
|
28.878 |
24.588 |
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Net Current Assets |
18.840
|
14.476 |
25.073 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
106.390 |
97.495 |
83.179 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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TURNOVER |
101.381 |
92.063 |
70.563 |
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PROFIT BEFORE
TAX |
13.789 |
18.044 |
14.197 |
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Less |
TAX |
5.998 |
6.179 |
3.958 |
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PROFIT AFTER TAX
|
7.791 |
11.865 |
10.239 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
49.554 |
37.689 |
NA |
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BALANCE CARRIED
TO THE B/S |
57.345 |
49.554 |
NA |
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Earnings Per
Share (Rs.) |
48.69 |
74.15 |
63.99 |
Expected Sales (2011-12) : Rs.100.000 Millions.
The above information has been parted by Mr. Nathuram.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
13.60
|
19.60 |
20.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.32
|
14.62 |
13.32 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.35 |
0.36 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.97
|
1.31 |
1.62 |
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Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.50 |
2.02 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
9.603
|
14.480 |
14.031 |
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Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
-- |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
No |
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16) Details of sister concerns |
-- |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
-- |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
BUSINESS OPERATIONS:
The company’s gross receipts has increased
from Rs.92.063 Millions to Rs.101.381 Millions. The profit after tax for the
year Rs.7.791 Millions as compared to Rs.11.865 Millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of charge
|
|
Corporate
identity number of the company |
U63012MH1996PTC096112 |
|
Name of the
company |
TRANSCON FREIGHT
SYSTEM PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
306, 3rd Floor, Kuntal Modi Estate, B.S. Marg, Ghatkopar
(West), Mumbai-400086, Maharashtra, India
|
|
Type of charge |
Immoveable
Property |
|
Particular of
charge holder |
Citi Bank N.A., Trent House, 2nd Floor, Plot No. C-60, G
Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
|
|
Email |
|
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Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry |
|
Date of instrument
Creating the charge |
27.06.2011 |
|
Amount secured by
the charge |
Rs.48.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest to be charged
at such rate/s as may be determined by the Bank from time to time. Terms of
Repayment On demand. Margin As may be
stipulated by the Bank from time to time. Extent and
Operation of the charge The mortgage
created by deposit of title deeds with the Bank, in respect of immovable
properties described in Column No.15 below as security for repayment of its
Rs.480 Lacs by the Company, together with interest, additional interest,
liquidated damages, commitment charges, premia on repayment or on redemption,
costs, expenses & other monies due and payable by the Company to the
Bank. |
|
Short particulars
of the property charged |
Office # 304,
305, 306, 3rd Floor, Kuntal, Modi Estate, L.B.S Marg, Ghatkopar (W),
Mumbai-400077. Sai Village, Taluka
: Panvel, District : Raigad. |
FIXED ASSETS:
·
Freehold Land
·
Furniture and Fixtures
·
Electric Fittings
·
Computer
·
Office Equipments
·
Pager
·
Air Condition
·
Xerox Machine
·
Mobile
·
Fax Machine
·
Printer
·
Office Premises
·
Car
·
Cycle
·
Scooter and Bikes
·
Trucks
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.52.73 |
|
|
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.67.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.