|
Report Date : |
16.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
Mahindra Logistics limited |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.08.2007 |
|
|
|
|
Com. Reg. No.: |
173466 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.577.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63000MH2007PLC173466 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM33771D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM2530H |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Provider of Transportation Logistics Services |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2028108 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100% subsidiary of Mahindra and Mahindra. It is an
established company having moderate track. There appears some losses in the records
during the current year. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-24901441 |
|
Fax No.: |
91-22-24900833 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 09.08.2011
|
Name : |
Mr. Chandrasekar Kandasamy |
|
Designation : |
Director |
|
Address : |
DII/53 Mahindra Park LBS Marg, Ghatkopar, Mumbai,
400086, Maharashtra, India |
|
Date of Birth/Age : |
08.01.1954 |
|
Date of Appointment : |
03.10.2007 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U01409MH2000PLC125781 |
MAHINDRA SHUBHLABH SERVICES
LIMITED |
Director |
25/07/2007 |
22/12/2006 |
- |
Active |
NO |
|
2 |
U30007MH1991PLC064368 |
BRISTLECONE INDIA LIMITED |
Director |
25/07/2008 |
17/09/2007 |
- |
Active |
NO |
|
3 |
U63000MH2007PLC173466 |
Mahindra Logistics Limited
|
Director |
10/09/2008 |
03/10/2007 |
- |
Active |
NO |
|
4 |
U35999MH2008PLC180385 |
Mahindra First Choice
Services Limited |
Director |
22/07/2009 |
24/03/2008 |
- |
Active |
NO |
|
5 |
U30007MH1994PLC081637 |
MAHINDRA SONA LIMITED |
Director |
20/12/2011 |
02/08/2010 |
- |
Active |
NO |
|
6 |
U74990MH2010PTC207854 |
MAHINDRA EPC SERVICES
PRIVATE LIMITED |
Director |
23/09/2011 |
05/10/2010 |
- |
Active |
NO |
|
7 |
U34100GJ1978PLC003127 |
MAHINDRA GUJARAT TRACTOR
LIMITED |
Additional director |
11/11/2011 |
11/11/2011 |
- |
Active |
NO |
|
8 |
U65922MH2007PLC169791 |
MAHINDRA RURAL HOUSING
FINANCE LIMITED |
Additional director |
16/01/2012 |
16/01/2012 |
- |
Active |
NO |
|
9 |
U75144MH2012PTC231267 |
Mahindra Defence Naval
Systems Private Limited |
Director |
18/05/2012 |
18/05/2012 |
- |
Active |
NO |
|
Name : |
Mr. Ruzbeh Baman Irani |
|
Designation : |
Director |
|
Address : |
5, Kismet Westfield Compound Lane, OPP. Bhulabhai
Desai Road, Mumbai, 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1963 |
|
Date of Appointment : |
03.10.2007 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U63000MH2007PLC173466 |
Mahindra Logistics Limited
|
Director |
10/09/2008 |
03/10/2007 |
- |
Active |
NO |
|
2 |
U35999MH2008PLC180385 |
Mahindra First Choice
Services Limited |
Director |
22/07/2009 |
15/09/2008 |
- |
Active |
NO |
|
3 |
U92412MH2008PTC187927 |
MAHINDRA UNITED FOOTBALL
CLUB PRIVATE LIMITED |
Director |
01/09/2009 |
29/12/2008 |
- |
Active |
NO |
|
Name : |
Mr. Zhooben Bhiwandiwala |
|
Designation : |
Director |
|
Address : |
S-13, Cusrow Baug, Shah id Bhagat Singh Road,
Colaba, Mumbai -400039 Maharashtra, India |
|
Date of Birth/Age : |
09.12.1959 |
|
Date of Appointment : |
28.04.2009 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U51900MH1988PTC046152 |
ALBERTVILLE EXPORTS
PRIVATE LIMITED |
Director |
08/02/1988 |
08/02/1988 |
- |
Dormant |
NO |
|
2 |
U22120MH1948PTC009314 |
THE INDIAN AND EASTERN
ENGINEER COMPANY PRIVATE LIMITED |
Additional director |
10/08/2009 |
20/01/1992 |
- |
Active |
NO |
|
3 |
U74140MH1992PLC066606 |
MAHINDRA AND MAHINDRA
CONTECH LIMITED |
Director |
22/02/1993 |
22/02/1993 |
27/05/2008 |
Active |
NO |
|
4 |
U74140MH1982PTC026770 |
PRUDENTIAL MANAGEMENT AND
SERVICES PVT LTD |
Director |
12/01/1998 |
12/01/1998 |
05/05/2010 |
Active |
NO |
|
5 |
U51900MH1978PLC020222 |
MAHINDRA INTERTRADE
LIMITED |
Director |
17/02/2000 |
17/02/2000 |
- |
Active |
NO |
|
6 |
U74999MH1999PTC121254 |
MW COM (INDIA)PRIVATE
LIMITED |
Director |
06/10/2003 |
06/10/2003 |
29/03/2010 |
Active |
NO |
|
7 |
U30007MH1991PLC064368 |
BRISTLECONE INDIA LIMITED |
Director |
05/08/2004 |
05/08/2004 |
05/06/2008 |
Active |
NO |
|
8 |
L27100MH1999PLC121285 |
Mahindra Forgings Limited |
Director |
19/05/2006 |
28/04/2006 |
- |
Active |
NO |
|
9 |
U18101MH1995PLC095482 |
NBS INTERNATIONAL LIMITED |
Director |
28/09/2007 |
15/11/2006 |
29/10/2008 |
Active |
NO |
|
10 |
U67120MH2007PLC168985 |
Mahindra Stokes Holding
Company Limited |
Director |
24/09/2007 |
21/03/2007 |
- |
Amalgamated |
NO |
|
11 |
U52190MH1954PLC019908 |
MAHINDRA ENGINEERING AND
CHEMICAL PRODUCTS LIMITED |
Director |
25/09/2008 |
27/08/2007 |
- |
Active |
NO |
|
12 |
U52190MH2007PTC173762 |
MAHINDRA RETAIL PRIVATE
LIMITED |
Director |
20/08/2008 |
03/09/2007 |
- |
Active |
NO |
|
13 |
U74999MH1995PLC093447 |
TECPRO ASHTECH LIMITED |
Additional director |
05/11/2007 |
05/11/2007 |
05/01/2008 |
Amalgamated |
NO |
|
14 |
U29130MH2004PTC168150 |
Mahindra Gears &
Transmissions Private Limited |
Director |
22/07/2008 |
24/12/2007 |
- |
Active |
NO |
|
15 |
U27100MH2007PLC173636 |
Mahindra Hinoday
Industries Limited |
Director |
25/07/2008 |
22/01/2008 |
- |
Active |
NO |
|
16 |
U29299MH1963PLC019745 |
MAHINDRA HINODAY
INDUSTRIES LIMITED |
Director |
06/05/2008 |
22/01/2008 |
- |
Amalgamated |
NO |
|
17 |
U63032MH2008PTC186581 |
Mahindra Ocean Blue Marine
Private Limited |
Director |
25/09/2009 |
09/09/2008 |
- |
Active |
NO |
|
18 |
U67110MH2008PLC188837 |
RETAIL INITIATIVE HOLDINGS
LIMITED |
Director |
11/12/2009 |
11/12/2008 |
16/08/2011 |
Active |
NO |
|
19 |
U35911MH2008PLC185462 |
MAHINDRA TWO WHEELERS
LIMITED |
Director |
12/08/2009 |
12/12/2008 |
- |
Active |
NO |
|
20 |
U73100MH1995PTC124707 |
OWENS-CORNING (INDIA)
Private Limited |
Director |
26/09/2009 |
01/04/2009 |
24/11/2010 |
Active |
NO |
|
21 |
U63000MH2007PLC173466 |
Mahindra Logistics Limited
|
Director |
11/08/2009 |
28/04/2009 |
- |
Active |
NO |
|
22 |
U29268MH2009PTC190702 |
DEFENCE LAND SYSTEMS INDIA
PRIVATE LIMITED |
Director |
26/04/2010 |
29/04/2009 |
27/04/2010 |
Active |
NO |
|
23 |
U27100MH2009PTC193205 |
Mahindra Electrical Steel
Private Limited |
Director |
29/09/2010 |
10/06/2009 |
- |
Active |
NO |
|
24 |
U92190MH2008PLC178894 |
MUMBAI MANTRA MEDIA
LIMITED |
Director |
30/09/2010 |
29/03/2010 |
- |
Active |
NO |
|
25 |
U27100MH1993PLC070416 |
MAHINDRA STEEL SERVICE
CENTRE LIMITED |
Director |
22/07/2010 |
29/04/2010 |
- |
Active |
NO |
|
26 |
U65993MH2007PLC175649 |
Mahindra Holdings Limited |
Director |
29/08/2011 |
18/07/2011 |
- |
Active |
NO |
|
27 |
U55100DL2011PTC222498 |
EKATRA HOSPITALITY
VENTURES PRIVATE LIMITED |
Director |
18/07/2011 |
18/07/2011 |
- |
Active |
NO |
|
28 |
U74899DL1989PLC038453 |
M. A. R. K. HOTELS LIMITED
|
Director |
30/09/2011 |
30/09/2011 |
- |
Active |
NO |
|
29 |
U75144MH2012PTC231267 |
Mahindra Defence Naval
Systems Private Limited |
Director |
18/05/2012 |
18/05/2012 |
- |
Active |
NO |
|
Name : |
Mr. Anjanikumar Choudhari |
|
Designation : |
Director |
|
Address : |
401, Fair winds, Dattatray Road, Santacruz (west),
Mumbai, 400054, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1959 |
|
Date of Appointment : |
28.04.2009 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U30007MH1991PLC064368 |
BRISTLECONE INDIA LIMITED |
Director |
03/03/2004 |
03/03/2004 |
19/07/2007 |
Active |
NO |
|
2 |
U34100GJ1978PLC003127 |
MAHINDRA GUJARAT TRACTOR
LIMITED |
Nominee director |
15/03/2005 |
15/03/2005 |
22/04/2010 |
Active |
NO |
|
3 |
L65921MH1991PLC059642 |
MAHINDRA AND MAHINDRA
FINANCIAL SERVICES LIMITED |
Director |
27/04/2005 |
27/04/2005 |
22/04/2010 |
Active |
NO |
|
4 |
L29211PB1970PLC002942 |
PUNJAB TRACTORS LIMITED |
Director |
22/09/2007 |
22/05/2007 |
- |
Amalgamated |
NO |
|
5 |
L45202PB1974PLC003516 |
SWARAJ AUTOMOTIVES LIMITED
|
Director |
22/09/2007 |
27/07/2007 |
01/04/2010 |
Active |
NO |
|
6 |
L50210PB1985PLC006473 |
SWARAJ ENGINES LTD |
Director |
22/09/2007 |
27/07/2007 |
01/04/2010 |
Active |
NO |
|
7 |
U01409MH2000PLC125781 |
MAHINDRA SHUBHLABH
SERVICES LIMITED |
Director |
09/08/2008 |
25/10/2007 |
01/04/2010 |
Active |
NO |
|
8 |
U63000MH2007PLC173466 |
Mahindra Logistics Limited
|
Director |
11/08/2009 |
28/04/2009 |
- |
Active |
NO |
|
9 |
L35999TN1936PLC002202 |
RANE HOLDINGS LIMITED |
Director |
05/08/2011 |
27/10/2010 |
- |
Active |
NO |
|
Name : |
Mr. Parag Chandulal Shah |
|
Designation : |
Director |
|
Address : |
7, Kailas, 50, Peddar Road, Mumbai - 400026,
Maharashtra, India |
|
Date of Birth/Age : |
25.11.1975 |
|
Date of Appointment : |
28.04.2009 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U01110MH1983PTC029216 |
INDIRA AGRICULTURAL FARM
PVT LTD |
Director |
04/09/1996 |
04/09/1996 |
- |
Under Process of Striking
off |
NO |
|
2 |
U51900MH1985PTC037329 |
SYSTEMS MARKETING (INDIA)
PVT LTD |
Director |
02/05/1997 |
02/05/1997 |
- |
Strike off |
NO |
|
3 |
U67190MH1987PTC042205 |
SHAH AND GALA FINANCE
CONSULTANTS PVT LTD |
Director |
02/05/1997 |
02/05/1997 |
- |
Strike off |
NO |
|
4 |
U25209MH1998PTC116707 |
C J INDUSTRIES PRIVATE
LIMITED |
Director |
29/09/1998 |
29/09/1998 |
- |
Active |
NO |
|
5 |
U27100MH1981PTC025565 |
HYD-AIR MAGNETS PRIVATE
LIMITED |
Director |
24/05/2007 |
24/05/2007 |
- |
Strike off |
NO |
|
6 |
U63032MH2008PTC186581 |
Mahindra Ocean Blue Marine
Private Limited |
Director |
25/09/2009 |
09/09/2008 |
- |
Active |
NO |
|
7 |
U35911MH2008PLC185462 |
MAHINDRA TWO WHEELERS
LIMITED |
Director |
12/08/2009 |
29/09/2008 |
- |
Active |
NO |
|
8 |
U92412MH2008PTC187927 |
MAHINDRA UNITED FOOTBALL
CLUB PRIVATE LIMITED |
Director |
01/09/2009 |
03/11/2008 |
- |
Active |
NO |
|
9 |
U63000MH2007PLC173466 |
Mahindra Logistics Limited
|
Director |
11/08/2009 |
28/04/2009 |
- |
Active |
NO |
|
10 |
U52190MH2007PTC173762 |
MAHINDRA RETAIL PRIVATE
LIMITED |
Director |
10/08/2010 |
03/11/2009 |
- |
Active |
NO |
|
11 |
U29268MH2010PTC198438 |
Mahindra Conveyor Systems
Private Limited |
Director |
23/06/2011 |
04/01/2010 |
- |
Active |
NO |
|
12 |
U40101MH2010PTC205236 |
MAHINDRA SOLAR ONE PRIVATE
LIMITED |
Director |
16/09/2011 |
04/07/2010 |
- |
Active |
NO |
|
13 |
U22120MH1948PTC009314 |
THE INDIAN AND EASTERN
ENGINEER COMPANY PRIVATE LIMITED |
Additional director |
09/07/2010 |
09/07/2010 |
- |
Active |
NO |
|
14 |
U51900MH1978PLC020222 |
MAHINDRA INTERTRADE
LIMITED |
Director |
22/07/2011 |
22/07/2010 |
- |
Active |
NO |
|
15 |
U40300MH2010PTC205946 |
MAHINDRA OFFGRID SERVICES
PRIVATE LIMITED |
Director |
26/07/2010 |
26/07/2010 |
- |
Active |
NO |
|
16 |
U74990MH2010PTC207854 |
MAHINDRA EPC SERVICES
PRIVATE LIMITED |
Director |
19/09/2010 |
19/09/2010 |
11/03/2011 |
Active |
NO |
|
17 |
U67110MH2008PLC188837 |
RETAIL INITIATIVE HOLDINGS
LIMITED |
Director |
29/09/2011 |
13/08/2011 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mahindra and Mahindra Limited |
|
57699894 |
|
Mahindra and Mahindra Limited jointly with Mr.
Zhooben Bhiwandiwala |
|
1 |
|
Mahindra and Mahindra Limited jointly with Mr.
Chandrasekar K. |
|
1 |
|
Mahindra and Mahindra Limited jointly with Mr.
Parag Shah |
|
1 |
|
Mahindra and Mahindra Limited jointly with Mr.
Ruzbeh Irani |
|
1 |
|
Mahindra and Mahindra Limited jointly with Mr.
Narayan Shankar |
|
1 |
|
Mahindra and Mahindra Limited jointly with Mr. S.
V. Rao |
|
1 |
|
Mahindra Engineering and Chemical Products Limited |
|
100 |
|
Total |
|
57700000 |
AS ON 09.08.2011
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provider of Transportation Logistics Services |
GENERAL INFORMATION
|
Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India ·
The Zoroastrian Co-Operative Bank Limited,
Goregaon (East) Branch, Shop No.6, Onkar, Shirdham Sankul, Dindoshi, Goregaon
(East),, Mumbai - 400097, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Footnotes (A) Cash Credit
from banks (B) Cash Credit
from banks (C) Short term
loans from banks (D) Short term
loans from banks
Footnotes (A) Short - term Loans
from Banks (B) Short - term
Loans from Banks (C) Inter
Corporate Deposits |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B K Khare and Company Chartered Accountant |
|
Address : |
706/708, Sharda Chambers, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
|
|
|
Holding Company: |
Mahindra and Mahindra Limited |
|
|
|
|
Fellow Subsidiaries : |
· Mahindra Renault Private Limited · Mahindra Logisoft Business Solutions Limited. · Mahindra Gujarat Tractors Limited · Tech Mahindra Limited · Mahindra Holidays and Resorts India Limited. · Defence Land Systems India Private Limited (Formerly Mahindra Defence Land Systems Private Limited) · Mahindra Gears and Transmissions Private Limited · Mahindra Ugine Steel Company Limited · Mahindra Intertrade Limited · Mahindra Steel Service Centre Limited · Mahindra Forgings Limited · Mahindra Navistar Engines Private Limited · Mahindra Retail private Limited · Mahindra Vehicle Manufacturers Limited (Earlier known as Mahindra Automotive Limited) · Mahindra Navistar Automotives Limited (Earlier known as Mahindra International Limited) · Mahindra Two Wheelers Limited · Swaraj Automotives Limited · Mahindra First Choice Services Limited ·
Mahindra First Choice wheels Limited |
CAPITAL STRUCTURE
AS ON 09.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
57700000 |
Equity Shares |
Rs.10/- each |
Rs.577.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
57700000 |
Equity Shares |
Rs.10/- each |
Rs.577.000 Millions |
|
|
|
|
|
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 |
577.000 |
490.500 |
490.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.552 |
28.912 |
|
|
4] (Accumulated Losses) |
(69.973) |
0.000 |
0.000 |
|
|
NETWORTH |
507.027 |
491.052 |
519.412 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
174.881 |
219.775 |
102.366 |
|
|
2] Unsecured Loans |
250.000 |
237.577 |
0.000 |
|
|
TOTAL BORROWING |
424.881 |
457.352 |
102.366 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.00 |
|
|
|
|
|
|
|
|
TOTAL |
931.908 |
948.404 |
621.778 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
143.252 |
241.945 |
79.193 |
|
|
Capital work-in-progress |
18.720 |
85.542 |
89.223 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.130 |
0.022 |
0.019 |
|
|
DEFERREX TAX ASSETS |
28.867 |
26.240 |
10.080 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1201.494
|
1131.545 |
989.283 |
|
|
Cash & Bank Balances |
8.158
|
18.250 |
13.674 |
|
|
Other Current Assets |
97.500
|
0.000 |
0.000 |
|
|
Loans & Advances |
634.760
|
594.425 |
350.331 |
|
Total
Current Assets |
1941.912
|
1744.220 |
1353.288 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1080.867
|
953.153 |
974.783 |
|
|
Other Current Liabilities |
49.158
|
126.173 |
31.028 |
|
|
Provisions |
70.948
|
70.239 |
82.458 |
|
Total
Current Liabilities |
1200.973
|
1149.565 |
1088.269 |
|
|
Net Current Assets |
740.939
|
594.655 |
265.019 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
931.908 |
948.404 |
621.778 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10947.235 |
9028.722 |
6204.432 |
|
|
|
Other Income |
3.933 |
4.628 |
2.384 |
|
|
|
TOTAL (A) |
10951.168 |
9033.350 |
6206.816 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing service costs |
10415.727 |
8550.590 |
5749.659 |
|
|
|
Employee related expenses |
295.979 |
270.538 |
227.836 |
|
|
|
Administrative selling other expenses |
218.242 |
173.312 |
104.726 |
|
|
|
TOTAL (B) |
10929.948 |
8994.440 |
6082.221 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.220 |
38.910 |
124.595 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
36.730 |
33.571 |
13.811 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(15.510) |
5.339 |
110.784 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
57.640 |
49.860 |
41.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(73.150) |
(44.521) |
68.996 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(2.627) |
(16.160) |
24.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(70.523) |
(28.361) |
44.626 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.552 |
28.913 |
(0.051) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividends |
0.000 |
0.000 |
13.388 |
|
|
|
Income Tax on Proposed Dividend |
0.000 |
0.000 |
2.275 |
|
|
BALANCE CARRIED
TO THE B/S |
(69.971) |
0.552 |
28.913 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4.036 |
4.251 |
9.628 |
|
|
TOTAL EARNINGS |
4.036 |
4.251 |
9.628 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.44) |
(0.58) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.64)
|
(0.31) |
0.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.70)
|
(0.49) |
1.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.51)
|
(2.24) |
4.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14)
|
(0.09) |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.21
|
3.27 |
2.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62
|
1.52 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1)
Year of Establishment |
Yes |
|
2)
Locality of the firm |
Yes |
|
3)
Constitutions of the firm |
Yes |
|
4)
Premises details |
No |
|
5)
Type of Business |
Yes |
|
6)
Line of Business |
Yes |
|
7)
Promoter's background |
Yes |
|
8)
No. of employees |
No |
|
9)
Name of person contacted |
No |
|
10)
Designation of contact person |
No |
|
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 |
No |
|
15)
Capital in the business |
Yes |
|
16)
Details of sister concerns |
Yes |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
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 |
Operations
The Operations of the Company were impacted during the year as the Company made significant changes in the organization structure, and added several new, senior and middle management. This process took considerable time and efforts to rebuild the new operating management team. However, the new team is now in place and operations have since stabilized.
The Company continues to operate in two broad business segments viz. Supply Chain Management and People Logistics.
Supply Chain
Management Business
The Company is making considerable investment in technology to improve productivity and reduce cost for its customers. The Company has selected Oracle Transport Management (OTM) to manage key functional areas for its automotive vertical business. This is the single largest deployment of this technology in the country. This solution will be gradually extended to all major Supply Chain Customer - both, auto and non-auto over a period of time.
People Logistics
Business
The People Logistics Business has recently been rebranded as "Mahindra People Transport Solutions'. in order to convey the essentials of people transportation business. This business has grown through the years, and the Company would continue to aggressively focus on increasing its customer base in this field.
Under the new Operating team, the Company is confident of achieving much improved performance in the years to come.
Key Financials
The Company recorded gross revenue of Rs. 10951.100 Millions for the year as against gross revenue of Rs. 9033.300 Millions in the previous year registering a growth of 21%. The Company has incurred a loss of Rs. 70.500 Millions (after accounting for Deferred Tax Income of Rs.2.700 Millions) for the year as compared to loss of Rs. 28.400 Millions in previous year which is mainly on account of recognition of Rs. 52.600 Millions in diminution in value of assets held as well as continued pressure on margins.
FORM 8:
|
Corporate identity number of the company |
U63000MH2007PLC173466 |
|
Name of the company |
Mahindra Logistics Limited |
|
Address of the registered office or of the
principal place of business in |
Mahindra Towers, P.K. Kurne Chowk, Worli,
Mumbai – 400018, Maharashtra, India |
|
This form is for |
Creation of charge Modification of charge |
|
Type of charge |
Book Debts Floating Charge |
|
Particular of charge holder |
HDFC BANK LIMITED |
|
Nature of instrument creating charge |
Supplemental Letter for Hypothecation of
Book debts. |
|
Date of instrument Creating the charge |
09.03.2012 |
|
Amount secured by the charge |
Rs.450.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest As mutually agreed upon between the Bank
and the Company. Linked to base rate. Terms of Repayment CC on demand; Working Capital Demand Loan
: 90 days; Sales Invoice financing Tenor upto 90 days; Bank guarantee : Tenor 1 year inclusive of claim period. Margin 25% on receivable upto 90 days or as may
be stipulated by HDFC Bank Ltd from time to time Extent and Operation of the charge First
pari passu charge on all receivables of the Company, both present and
future. |
|
Short particulars of the property charged |
First
pari passu charge on all receivables of the Company, both present and
future. |
|
Date of instrument modifying the charge |
20/07/2010 |
|
Particulars of the present modification |
Pursuant to the present modification,
first Pari passu charge created on all book debts of the Company has been
extended to cover the increased limits, sanctioned by HDFC Bank Ltd, from
existing Rs 250 m to Rs 450 m. |
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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.