MIRA
INFORM REPORT
|
Report Date : |
07.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
TIGERS WORLDWIDE LOGISTICS PRIVATE LIMITED (w.e.f.23.05.2012) |
|
|
|
|
Formerly Known
As : |
KAMINO INTERNATIONAL LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, The |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
23.02.1994 |
|
|
|
|
Com. Reg. No.: |
164143 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 15.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899MH1994PTC164143 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Subject is Act as a Fright and Forwarding Agent. |
|
|
|
|
No. of Employees
: |
40 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 94700 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Sampat |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-40313000 |
|
Date : |
06.07.2012 |
LOCATIONS
|
Registered Office : |
301, The Sangeeta Plaza, Marol, Andheri (East), Mumbai 400059,
Maharashtra, India |
|
Tel. No.: |
91-22-40313000 |
|
Fax No.: |
91-22-40313030 |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branches : |
Located at |
DIRECTORS
AS ON 28.09.2011
|
Name : |
Mr. Vignesh P. Manjeshwar |
|
Designation : |
Director |
|
Address : |
505, Udyan II, Marol, Andheri [East], Mumbai 400059, |
|
Date of Birth/Age : |
27.01.1969 |
|
Date of Appointment : |
09.08.2001 |
|
|
|
|
Name : |
Mr. Dennis Joseph Riordan |
|
Designation : |
Director |
|
Address : |
11, |
|
Date of Birth/Age : |
08.10.1962 |
|
Date of Appointment : |
30.09.2002 |
|
|
|
|
Name : |
Mr. Yvonne Baptista |
|
Designation : |
Director |
|
Address : |
Sangeet Lok, Darshan CHS, Flat No. B 306, Military Road, Marol,
Andheri 400059, Maharashtra, India |
|
Date of Birth/Age : |
27.04.1961 |
|
Date of Appointment : |
21.10.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Sampat |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2011
|
Names of Shareholders |
No. of Shares |
|
Vignesh P. Manjeshwar |
37875 |
|
Kamino Limited |
76500 |
|
Ashok Nayyar, London |
35625 |
|
Total |
150000 |
AS ON 28.09.2011
|
Equity Share
Breakup |
Percentage of
Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
74.75 |
|
Directors or relatives of directors |
25.25 |
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Act as a Fright and Forwarding Agent. |
|
|
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Terms : |
|
|
Selling : |
Cash, Credit (30-60 Days) |
|
|
|
|
Purchasing : |
Cash, Credit (30-60 Days) |
GENERAL INFORMATION
|
Customers : |
Corporate |
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No. of Employees : |
40 Approximately |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai 400013, Maharashtra, India · Indusind Bank Limited, CST No. 32, Acme Plaza, Andheri (East), Mumbai – 400 059, Maharashtra ·
HDFC Bank, Andheri Branch, Mumbai, Maharashtra,
India |
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Facilities : |
Rs. In Millions
|
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vipul R Shah Chartered Accountant |
|
Address : |
219, Sai Vihar, Above Gurudev Hotel, Shivaji Path, Kalyan 421301,
Maharashtra, India |
|
|
|
|
Name : |
Kanwal Malhotra and Company Chartered Accountant |
|
Address : |
A 20 Gulmohar, New Delhi 110049, India |
|
|
|
|
Holding Company: |
Kamino Limited |
CAPITAL STRUCTURE
AS ON 28.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs. 100 each |
Rs.15.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares (of the above 76500 equity shares of Rs. 100 each are held by Kamino
Limited, the Holding Company) |
Rs. 100 each |
Rs. 15.000 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
210.000 (Due to Less
Order) |
Expected Sales (2012-2013) : Rs.250.000 millions
The above information has been parted by Mr. Sampat
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
15.000 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.675 |
6.689 |
7.220 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
23.675 |
21.689 |
22.220 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.589 |
0.000 |
|
|
2] Unsecured Loans |
2.017 |
2.018 |
1.178 |
|
|
TOTAL BORROWING |
2.017 |
2.607 |
1.178 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
22.784 |
|
|
|
|
|
|
|
|
TOTAL |
25.692 |
24.296 |
46.182 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.814 |
11.494 |
14.722 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
25.351
|
29.342 |
45.195 |
|
|
Cash & Bank Balances |
13.050
|
6.697 |
0.433 |
|
|
Other Current Assets |
0.000
|
1.187 |
0.521 |
|
|
Loans & Advances |
22.410
|
43.315 |
46.047 |
|
Total
Current Assets |
60.811
|
80.541 |
92.196 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.971
|
34.580 |
0.000 |
|
|
Other Current Liabilities |
0.000
|
7.409 |
60.736 |
|
|
Provisions |
24.961
|
25.748 |
0.000 |
|
Total
Current Liabilities |
47.933
|
67.739 |
60.736 |
|
|
Net Current Assets |
12.878
|
12.802 |
31.460 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.692 |
24.296 |
46.182 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operation |
316.910 |
297.021 |
486.850 |
|
|
|
TOTAL (A) |
316.910 |
297.021 |
486.850 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Selling and Distribution Expenses |
|
|
|
|
|
|
Office Expenses |
308.718 |
295.338 |
482.268 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
308.718 |
295.338 |
482.268 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.192 |
1.683 |
4.582 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.192 |
1.683 |
4.582 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.192 |
1.683 |
4.582 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.943 |
0.260 |
2.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.249 |
1.423 |
2.282 |
|
|
|
|
|
|
|
|
|
|
Provision for
Tax of Earlier Years |
0.000 |
(1.953) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.427 |
7.220 |
20.459 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
15.521 |
|
|
|
Dividend |
NA |
NA |
NA |
|
|
|
Tax on Dividend |
NA |
NA |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
8.676 |
6.690 |
7.220 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
34.99 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.65
|
0.47 |
0.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.58
|
0.56 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.12
|
1.82 |
4.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.07 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.10
|
3.24 |
3.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.19 |
1.51 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
22.971
|
34.580 |
NA |
NOTE:
Registered office of the company has been shifted from New Delhi 110037, India to the present address w.e.f. 18.04.2006
FINANCIAL HIGHLIGHTS
The
above are the financial parameters of the company during the period under
report the Company's performance for the year under reference has shown
marginal growth of 7% In the turnover and a substantive manifold growth in its
profits and profitability resulting into better profits after consolidation of
its business in view of the strategic decisions taken and operated in the past
which have now started showing good working results in the days under
operation. The profits and profitability have shown fruitful results of
implementation of the decisions taken m past and the management takes note of
the same.
They
also acknowledge the support tent and confidence bestowed upon them bankers and
stakeholders.
business operations and future outlook
The Management of the Company
after implementation of well thought aspects of consolidation of its business
has recently taken
review of the same. The management is glad lo
report that most of me concerned areas of operations and implementation of
system and procedures as envisaged are working smoothly and benefiting the
company In achieving its goals without any risks Clements
The management reports that there
is high level of competition of business which is a challenge before it in the
given scenario, However, the Management is very much hopeful that the future
should be prospective and growth oriented in view of the strategic planning it
had implemented and put to achieve the targeted goals in all peripheries of its
business.
fixed Assets:
·
Furniture and Fixtures
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Motor Car
·
Office Premises
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899MH1994PTC164143 |
|
Name of the
company |
KAMINO
INTERNATIONAL LOGISTICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
301, The |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel
[West], Mumbai 400013, E-mail: rbbform8@hdfcbank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum recording post transaction of creation of
mortgage by deposit of title deeds. |
|
Date of
instrument Creating the charge |
31.03.2008 |
|
Amount secured by
the charge |
Rs. 45.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the bank from time to time. Terms of Repayment On demand Margin Company shall at
all times during the continuance of this security maintain a sufficient
amount to provide the margin of security as may from time to time advised by
the Bank. Extent and Operation of the charge The company
created an equitable mortgage by way of deposit of title deeds in respect of
its immovable properties as security for the due repayment/payment of the
company’s dues including principal amount of the facility, interest,
liquidated damages, costs, charges and expenses etc. |
|
Short particulars
of the property charged |
Immovable property bearing premises nos. 301, 301A
and 302, 3rd Floor, The Sangeet Plaza Iflex Office Premises CHS
Limited, admeasuring 2020 sq. fts. bearing S. No. 69/3, CTS No. 598, Village
Marol, Andheri, MSD. |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
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 |
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.55.41 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
31 |
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.