MIRA
INFORM REPORT
|
Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN CARGO LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-075480 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.548 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63010MH1993PLC075480 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH03218F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH1471R |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
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|
|
|
Line of Business
: |
Subject is engaged in Clearing and forwarding and allied activities. |
|
|
|
|
No. of Employees
: |
Not Available |
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 1400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a wholly owned subsidiary of All Cargo Global Logistics Limited.
It is an established company having moderate track record. Profitability of the company appears to be low. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered
Office/ Corporate Office : |
4th Floor, |
|
Tel. No.: |
91-22-66020600 |
|
Fax No.: |
91-22-66020670 |
|
E-Mail : |
deepal.shah@hindustancargoltd.in amit.dodani@allcargoglobal.com |
|
Website : |
|
|
Area : |
7800 sq.fts |
|
Location : |
Leased |
|
|
|
|
Branch Office : |
202, Polaris, “B” Wing, Off |
|
Tel. No.: |
91-22-66020600 |
|
Fax No.: |
91-22-66020680 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kaiwan Dossabhoy Kalyaniwalla |
|
Designation : |
Director |
|
Address : |
Phirojshah Building, 3rd Floor, 70C, Gowalia Tank Road, Mumabai-400036, Maharashtra, India. |
|
Date of Birth/Age : |
13.08.1964 |
|
Date of Appointment : |
09.01.2007 |
|
DIN No.: |
00060776 |
|
|
|
|
Name : |
Mr. Suryanarayanan Sivaramakrishnan |
|
Designation : |
Nominee director |
|
Address : |
52, Sagar Tarang, 81/83, Bhulabhai Desai Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
04.05.1958 |
|
Date of Appointment : |
03.06.2010 |
|
DIN No.: |
00444230 |
|
|
|
|
Name : |
Mr. Jatin Jayantilal Chokshi |
|
Designation : |
Nominee director |
|
Address : |
B/9, Shivalay Haji Bapu Road, Near Post Office, Malad (East), Mumbai, 400097, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1958 |
|
Date of Appointment : |
03.06.2010 |
|
DIN No.: |
00495015 |
KEY EXECUTIVES
|
Name : |
Aashish K. Bhatt and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
3/301, Triveni Krupa, Opposite Ambaji Temple, Carter Road No.3,
Borivali (East), Mumbai – 400066 |
|
Telefax : |
91-22-28640522 |
|
Mobile No.: |
91-9867151081 |
|
E-Mail : |
|
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Allcargo Global Logistics Limited, India |
|
249994 |
|
Arathi Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
|
Shashi Kiran Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
|
Adarsh Hegde (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
|
Umesh Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
|
Prabhakar Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
|
Susheela Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
|
Total |
|
250000 |
|
Names of Shareholders (Preferences Shares) |
|
No. of Shares |
|
Allcargo Logistics Limited, India (1% Preference Share) |
|
147975 |
|
Allcargo Logistics Limited, India (10% Preference Share) |
|
2500 |
|
Total |
|
150475 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Clearing and forwarding and allied
activities. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· HDFC Bank Limited, ITc Centre, 3rd Floor, 759, Anna salai, Chennai – 600 002, Tamil Nadu · Standard Chartered Bank, Fort ·
Axis Bank Limited, Trishul 3rd Floor, Opposite
Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat,
India |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
C. C. Dangi and Associates Chartered Accountants |
|
Address : |
90, Mahindra Chambers, 2nd Floor, 134/136, D.N. Road, Fort, Mumbai –
400001, Maharashtra, India |
|
PAN No.: |
ABCPD8756B |
|
|
|
|
Holding company |
Allcargo Logistics Limited |
|
|
|
|
Subsidiaries : |
· HC Logistics Limited (100% subsidiary w.e.f. 20th June 2011) ·
Credo Shipping Agencies (India) Private
Limited (100% subsidiary w.e.f 5th October 2011) |
|
|
|
|
Fellow Subsidiaries |
· Administradora House Line C.A. · aEcu-Line (Indian Ocean Islands) Limited · AGL N.V. · AGL Warehousing Private Limited · All Cargo Belgium N.V. · Allcargo Logistics Park Private Limited · Allcargo Shipping Company Private Limited (Formerly known as AGL Ports Private Limited) · Amfin Consulting Private Limited · Asia Line Limited · Cargo Freight Station S.A. · CCC Limited · CCS Limited · CCSS Limited · CELM Logistics SA de CV · Combiline Indain Agencies Private Limited · Comptech Solutions Private Limited · Conecli International S.A. · Consolidadora Ecu-Line C.A. · Contech Transport Services Private Limited · Contech Transport Services Private Limited · CLD Compania Logistica de · DEOLIX S.A. (earlier ECU-Line Uruguay (Deolix S.A.)) · DLC · Distribucion SA · Ecu Enterprises Limited · Ecu Global Services N.V. (formerly IPTS N.V.) · Ecu Heavylift WLL · Ecu International (Asia) Private Limited · Ecu International Far East Limited · Ecu International N.V. · Ecu Line (India) Private Limited · Ecu Line Global Limited · Ecu Line Egypt Limited · Ecu Line Lanka Private Limited · Ecu Line Vietnam Joint Venture Company Limited (earlier ECU Line Vietnam) · Ecu Logistics de Mexico SA de CV · Ecu Logistics SA · Ecu Logistics do Brasil Ltda · Ecu Logistics SA · Ecu Shipping Logistics Limited · Ecu Uluslarasi Tas. Ve Ticaret Limited Sti. · Ecubro N.V. · Ecuhold N.V. · Ecu-Line (CZ) s.r.o. · Ecu-Line (Johor Bahru) Snd. Bhd. · Ecu-Line (Thailand) Co. Limited · Ecu-Line Abu Dhabi LLC · Ecu-Line Algerie sarl · Ecu-Line Australia Pty Limited · Ecu-Line Bulgaria EOOD · Ecu-Line Canada Inc. · Ecu-Line Chile S.A. · Ecu-Line China Limited · Ecu-Line Côte d’Ivoire Sarl · Ecu-Line de Colombia S.A.S. · Ecu-Line de Panama SA · Ecu-Line del Ecuador S.A. · Ecu-Line Doha W.L.L. · Ecu-Line Germany GmbH · Ecu-Line Guangzhou Limited · Ecu-Line Hong Kong Limited · Ecu-Line Hungary Kft · Ecu-Line Italia srl. · Ecu-Line Japan Limited · Ecu-Line Kenya Limited · Ecu-Line Malta Limited · Ecu-Line Maroc S.A. · Ecu-Line Mediterranean Limited · Ecu-Line Middle East LLC · Ecu-Line N.V. · Ecu-Line New Zealand Limited · Ecu-Line Paraguay SA · Ecu-Line Peru SA · Ecu-Line Philippines Inc. · Ecu-Line Polska SP. Z.o.o. · Ecu-Line Romania SRL · Ecu-Line Rotterdam BV · Ecu-Line Saudi Arabia LLC · Ecu-Line Singapore Pte. Limited · Ecu-Line South Africa (Pty.) Limited · Ecu-Line Spain S.L. · Ecu-Line Switzerland GmbH · Ecu-Line UK Limited · Ecu-Line Zimbabwe Private Limited · Ecu-Logistics N.V. · Ecu-Tech BVBA · European Customs Brokers N.V. · ELV Multimodal C.A. · ELWA Ghana Limited · Eurocentre FZCO · Eurocentre Milan srl. · Flamingo Line Chile S.A. · Flamingo Line de Guatemala S.A. · Flamingo Line del Ecuador SA · Flamingo Line del Peru SA · Flamingo Line do Brasil Ltda · Flamingo Line El Salvador SA de CV · Guldary S.A. · HCL Logistics N.V. (earlier ECU-Air NV) · Jordan Gulf for Freight Services (earlier ECU Line Jordan) · Mediterranean Cargo Center S.L. (MCC) · MHTC Logistics Private Limited · Ocean House Limited · PT EKA Consol Utama Line · Rotterdam Freight Station BV · S.H.E. Maritime Services Limited · Société Ecu-Line Tunisie Sarl (earlier ECU Line Tunisie sarl) · South Asia Terminals Private Limited · Southern Terminal & Trading Private Limited (Formerly known as AGL Terminals Private Limited) · SSCC Limited · Star Express Company Limited · Transindia Logistic Park Private Limited (Formerly known as Universal Container Freight Station Private Limited) · Translogistik Internationale Spedition GmbH ·
Transnepal Freight Services Private Limited |
|
|
·
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
290000 |
Preference Shares |
Rs.100/- each |
Rs.29.000 Millions |
|
|
Total |
|
Rs.39.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
150475 |
Preference Shares |
Rs.100/- each |
Rs.15.048
Millions |
|
|
Total |
|
Rs.17.548 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 (12 months) |
31.03.2012 (15 months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
17.548 |
17.298 |
|
(b) Reserves & Surplus |
|
338.106 |
316.606 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
355.654 |
333.904 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.880 |
5.907 |
|
Total Non-current Liabilities (3) |
|
5.880 |
5.907 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
9.651 |
|
(b) Trade payables |
|
192.661 |
215.927 |
|
(c) Other current
liabilities |
|
88.264 |
99.983 |
|
(d) Short-term provisions |
|
0.794 |
0.586 |
|
Total Current Liabilities (4) |
|
281.719 |
326.147 |
|
|
|
|
|
|
TOTAL |
|
643.253 |
665.958 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
22.955 |
25.982 |
|
(ii) Intangible Assets |
|
1.102 |
1.479 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.600 |
0.600 |
|
(c) Deferred tax assets (net) |
|
21.762 |
23.565 |
|
(d) Long-term Loan and Advances |
|
63.206 |
38.535 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
109.625 |
90.161 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
335.840 |
283.134 |
|
(d) Cash and cash
equivalents |
|
23.751 |
19.406 |
|
(e) Short-term loans and
advances |
|
171.507 |
271.545 |
|
(f) Other current assets |
|
2.530 |
1.712 |
|
Total Current Assets |
|
533.628 |
575.797 |
|
|
|
|
|
|
TOTAL |
|
643.253 |
665.958 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
120.592 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
123.092 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
112.869 |
|
|
TOTAL BORROWING |
|
|
112.869 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
235.961 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
13.563 |
|
|
Capital work-in-progress |
|
|
3.965 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
11.127 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
165.004
|
|
|
Cash & Bank Balances |
|
|
36.571
|
|
|
Other Current Assets |
|
|
2.778
|
|
|
Loans & Advances |
|
|
264.817
|
|
Total
Current Assets |
|
|
469.170
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
126.354 |
|
|
Other Current Liabilities |
|
|
132.626
|
|
|
Provisions |
|
|
2.884
|
|
Total
Current Liabilities |
|
|
261.864
|
|
|
Net Current Assets |
|
|
207.306
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
235.961 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 (12 months) |
31.03.2012 (15 months) |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2565.837 |
3103.311 |
1758.418 |
|
|
|
Other Income |
9.714 |
11.683 |
15.691 |
|
|
|
TOTAL (A) |
2575.551 |
3114.994 |
1774.109 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2321.555 |
|
|
|
|
|
Employee benefit expense |
132.888 |
185.851 |
1691.395 |
|
|
|
Other expenses |
91.645 |
157.058 |
|
|
|
|
TOTAL (B) |
2546.088 |
3098.620 |
1691.395 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
29.463 |
16.374 |
82.714 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.711 |
22.394 |
9.681 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.752 |
(6.020) |
73.033 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.589 |
8.264 |
5.352 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
22.163 |
(14.284) |
67.681 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.413 |
(3.135) |
25.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
11.750 |
(11.149) |
42.431 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
107.116 |
118.265 |
75.834 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
118.866 |
107.116 |
118.265 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Multi-modal transport operations |
447.803 |
161.347 |
182.838 |
|
|
TOTAL EARNINGS |
447.803 |
161.347 |
182.838 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
47.00 |
(44.60) |
169.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 (12 months) |
31.03.2012 (15 months) |
31.12.2010 |
|
PAT / Total Income |
(%) |
0.46
|
(0.36) |
2.39
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.86
|
(0.46) |
3.85
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.57
|
(2.23) |
14.02
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.04) |
0.55
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.03 |
0.92
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.89
|
1.77 |
1.79
|
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 |
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) |
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 |
|
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
“No.104, Sai Pooja Housing Society, Near Janakalyan Bank, Om Nagar, Andheri
(East), Mumbai - 400069, Maharashtra, India” to the present address w.e.f.
15.01.2008.
REVIEW OF OPERATIONS
The operating environment has been challenging during the review period, in spite of this your company has steadily grown. The Operating Profit (PBIDTA) has grown by 80%. The company is focusing on building a large base of customers and improved cost efficiency, some of these measures have led to the improved PBIDTA. Market penetration and targeting Niche profitable customers is the focus area and the company is building an aggressive sales force to meet this. Their expect the efforts of our focus will have a long term effect on profit and growth sustainability in the coming years, provided the operating environment improves and becomes conducive for growth.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As on 31.03.2013 (12 months) |
As on 31.03.2012 (15 months) |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
0.000 |
9.651 |
|
Total |
0.000 |
9.651 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10305114 |
27/08/2012 * |
95,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B58521998 |
* Date of charge modification
FIXED ASSETS
· Furniture and Fixtures
· Leasehold improvements
· Computers
· Office Equipments
· Vehicles
· Software
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 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.62.10 |
|
|
1 |
Rs.101.27 |
|
Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
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.