MIRA
INFORM REPORT
|
Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HAIKO LOGISTIC INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
A-133, Part Ground Floor, Mahipalpur Extension, |
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Country : |
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Financials as on : |
31.03.2010 |
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Date of Incorporation : |
14.01.2005 |
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|
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|
Com. Reg. No.: |
55-132126 |
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|
|
Capital Investment / Paid-up Capital : |
Rs.4.325 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U63011DL2005PTC132126 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELH05396G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCH5242H |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Logistics Services |
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No. of Employees
: |
50 (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 250000 |
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|
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
management of the company has not filed its financials with the government
department since 2010. Mr. Deepak Jaiswal, Key Executive has provided us with general
information but denied to disclose any financial detail. As per old (2010), the company appeared normal for business dealings. However, trade relations are reported as fair. Business is active.
Payment terms are unknown. The company can be considered for business dealings with great
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Deepak Jaiswal |
|
Designation : |
Key Executive |
|
Contact No. : |
91-22-40982999 |
|
Date : |
12.04.2013 |
LOCATIONS
|
Registered Office : |
A-133, Part Ground Floor, Mahipalpur Extension, |
|
Tel. No.: |
91-11-26782628 /
2841 / 2842 / 49944400 |
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Fax No.: |
91-11-26782629 |
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E-Mail : |
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|
Website : |
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|
Area : |
600 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
1088, C Wing, |
|
Tel. No.: |
91-22-28577354 /
28577327 / 7381/ 40982999 |
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Fax No.: |
91-22-28576704 |
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E-Mail : |
|
|
Area : |
5000 Sq. ft. |
|
Location : |
Owned |
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Branch Office : |
Located at
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DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Manoj Kumar Gupta |
|
Designation : |
Director |
|
Address : |
RZ-1A/1, Gali No. 4, Main Sagarpur, |
|
Date of Birth/Age : |
20.06.1972 |
|
Qualification : |
Graduate |
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Date of Appointment : |
13.03.2006 |
|
DIN No.: |
02657131 |
|
|
|
|
Name : |
Mrs. Neetu Gupta |
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Designation : |
Director |
|
Address : |
RZ-1A/1, Gali No. 4, Main Sagarpur, |
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Date of Birth/Age : |
05.11.1973 |
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Qualification : |
Graduate |
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Date of Appointment : |
14.01.2005 |
|
DIN No.: |
03146990 |
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|
|
|
Name : |
Mr. Arjun Lal Gupta |
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Designation : |
Director |
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Address : |
RZ-1A/1, Gali No. 4, Main Sagarpur, |
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Date of Birth/Age : |
03.09.1940 |
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Qualification : |
Post Graduation |
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Date of Appointment : |
14.01.2005 |
|
DIN No.: |
02657108 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Jaiswal |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Neetu Gupta |
148000 |
|
Arjun Lal Gupta |
148500 |
|
Manoj Gupta |
136000 |
|
Total |
432500 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Logistics Services |
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Products : |
Air Freight Forwarding Services |
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Services : |
· Buyers Consolidation · Door to Door Services · Project Cargo · Supply Chain Management · Custom Clearance · Consolidation and Distribution · Hazardous Cargo · Air Freights |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others (Corporate) |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
ICICI Bank Limited, Branch Andheri (East),
Mumbai, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S K Jain and Company Chartered Accountants |
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Address : |
256, Chanakya Puri, Sadar Meerut, |
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Tel No. : |
91-121-2661317 |
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PAN No.: |
AEGPP8718Q |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
432500 |
Equity Shares |
Rs.10/- each |
Rs.4.325
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.325 |
4.325 |
4.325 |
|
|
2] Share Application Money |
11.700 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
46.867 |
40.634 |
35.342 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
62.892 |
44.959 |
39.667 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.987 |
0.097 |
0.609 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
7.987 |
0.097 |
0.609 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
70.879 |
45.056 |
40.276 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.938 |
4.961 |
3.697 |
|
|
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 |
99.378
|
37.692
|
34.687 |
|
|
Cash & Bank Balances |
8.444
|
9.386
|
11.107 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
49.854
|
41.900
|
23.639 |
|
Total
Current Assets |
157.676
|
88.978
|
69.433 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
80.583
|
43.521
|
20.091 |
|
|
Other Current Liabilities |
11.220
|
5.443
|
12.858 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
91.803
|
48.964
|
32.949 |
|
|
Net Current Assets |
65.873
|
40.014
|
36.484 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.068 |
0.081 |
0.095 |
|
|
|
|
|
|
|
|
TOTAL |
70.879 |
45.056 |
40.276 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
86.556 |
59.108 |
42.499 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
86.556 |
59.108 |
42.499 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
77.536 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
77.536 |
51.004 |
35.361 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.020 |
8.104 |
7.138 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.787 |
2.813 |
2.566 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.233 |
5.291 |
4.572 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.41 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.20
|
8.95
|
10.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.55
|
8.63
|
9.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.18
|
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.13
|
0.00
|
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.82
|
2.11 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE :
The registered office address of the company has been shifted from “New
Delhi – 110037, India” to the present address w.e.f. 01.07.2006.
PERFORMANCE :-
The total income of the company for the current financial year is
Rs.86.556 Millions as compared to Rs. 59.108 Millions in the previous financial
year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U63011DL2005PTC132126 |
|
Name of the
company |
HAIKO LOGISTICS
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-133, Part Ground Floor, Mahipalpur Extension, New Delhi – 110037, Delhi,
India E-Mail Id : rsjmca@gmail.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10237927 |
|
Type of charge |
Book
debts |
|
Particular of charge
holder |
ICICI Bank
Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat,
India E-Mail Id : sejal.maru@icicibank.com |
|
Nature of
instrument creating charge |
Deed of
Hypothecation executed by subject in favour of ICICI Bank Limited at Delhi
for working capital facility of Rs.80.000 Millions |
|
Date of
instrument Creating the charge |
20.11.2012 |
|
Amount secured by
the charge |
Rs.80.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit : I
Base + 3.25% p.a FCNR : sublimit
of Cash Credit : As per treasury rate Terms of
Repayment On demand Margin Book debts -
Cover Period : 90 days , Margin : 25% Extent and
Operation of the charge Exclusive charge
in favour of the Bank by way of hypothecation of the firm entire stocks and
receivables both present and future, in a form and manner satisfactory to the
Bank. |
|
Particulars of the
present modification |
Earlier amount
secured by charge, i.e. Rs. 65.000 Millions has been enhanced to Rs. 80.000
Millions. |
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 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.54.44 |
|
|
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.