MIRA
INFORM REPORT
|
Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOTAL SHIPPING AND LOGISTICS PRIVATE LIMITED (w.e.f.04.09.2009) |
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Formerly Known
As : |
TOTAL SHIPPING (INDIA) PRIVATE LIMITED |
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Registered
Office : |
Viraj Impex, House, 47, P D Mello Road, Mumbai – 400007, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
20.09.1984 |
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Com. Reg. No.: |
11-034075 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company Identification
No.] |
U63090MH1984PTC034075 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT10948A |
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PAN No.: [Permanent Account No.] |
AABCT9850B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is providing integrated logistics services. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 250000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 DECLINED
MANAGEMENT NON-COOPERATIVE.
Contact No.: 91-22-23480595
LOCATIONS
|
Registered Office : |
Viraj Impex, House, 47, P D Mello Road, Mumbai – 400007, Maharashtra, India
|
|
Tel. No.: |
91-22-23480595/ 40767676/ 40761800 |
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Fax No.: |
91-22-23481155 |
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E-Mail : |
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Website : |
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Branch Office : |
Located At ·
Mumbai ·
Pune ·
Ahmedabad ·
New Delhi ·
Bangalore ·
Belgaum ·
Chennai ·
Cochin ·
Coimbatore ·
Goa ·
Gurgaon ·
Hubli ·
Hyderabad ·
Indore ·
Jammu ·
Mysore ·
Nasik |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Vijay Rjendraprasad Gupta |
|
Designation : |
Director |
|
Address : |
2A, Sarswat Sadam, 47, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Appointment : |
21.11.2002 |
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DIN No.: |
00190962 |
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Name : |
Mr. Vishal Vijay Gupta |
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Designation : |
Director |
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Address : |
2A, Sarswat Sadam, 47, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
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Date of Appointment : |
25.06.2007 |
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DIN No.: |
00191141 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
No. of Shares |
|
|
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|
Vijay Gupta |
52980 |
|
Vivek Gupta |
1300 |
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Vishal V Gupta |
45720 |
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|
|
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Total |
100000 |
(AS ON 29.09.2012)
|
Equity Shares
Break Up |
Percentage of
Holding |
|
|
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is providing integrated logistics services |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
·
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India ·
State Bank of India Vashi Turbhe Branch, Devgiri Complex, Phase II, Sector19, Vashi, Navi
Mumbai-400703, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jain Khetan Agarwal and Associates Chartered Accountant |
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Address : |
205 and 102, Dimple Arcade Annexue, Asha Nagar, Thakur Complex,
Kandiwali (East), Mumbai-400101, Maharashtra, India |
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Tel. No.: |
91-22-66797335/ 28548273 |
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Fax No.: |
91-22-28548273 |
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E-Mail : |
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Website : |
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PAN No.: |
AACFJ9014B |
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Associate Companies : |
·
Surat Goods Transport Private Limited ·
Total Logistics (HK) Private Limited ·
Veda Properties Private Limited ·
Sahara Properties Private Limited ·
Interfreight Forward Private Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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The Company has only
one class of Shares called Equity Shares having face value of Rs.100/ each.
Each Equity
Shareholder is entitling to one vote per share.
Details of shares
held by each shareholder holding more than 5%
Equity Share of Face Value of Rs.100/ each with one voting right
|
Name |
No of Shares |
|
Vishal Gupta |
45,720 |
|
Vijay Gupta |
52.981 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
52.882 |
36.565 |
20.315 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
62.882 |
46.565 |
22.815 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
23.591 |
31.252 |
0.858 |
|
|
2] Unsecured Loans |
58.427 |
83.305 |
90.602 |
|
|
TOTAL BORROWING |
82.018 |
114.557 |
91.460 |
|
|
DEFERRED TAX LIABILITIES |
0.067 |
0.045 |
0.008 |
|
|
|
|
|
|
|
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TOTAL |
144.967 |
161.167 |
114.283 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
13.252 |
8.863 |
4.370 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
10.025 |
0.226 |
0.026 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
138.403
|
143.528
|
97.239 |
|
|
Cash & Bank Balances |
11.727
|
7.394
|
6.571 |
|
|
Other Current Assets |
8.700
|
13.532
|
0.000 |
|
|
Loans & Advances |
61.423
|
76.589
|
57.185 |
|
Total
Current Assets |
220.253 |
241.043
|
160.995 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
54.447
|
50.896
|
28.555 |
|
|
Other Current Liabilities |
7.748
|
3.455
|
13.942 |
|
|
Provisions |
36.368
|
34.614
|
8.676 |
|
Total
Current Liabilities |
98.563 |
88.965
|
51.173 |
|
|
Net Current Assets |
121.690 |
152.078
|
109.822 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.065 |
|
|
|
|
|
|
|
|
TOTAL |
144.967 |
161.167 |
114.283 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
|
|
|
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|
Income |
404.433 |
|
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Other Income |
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TOTAL |
404.433 |
353.726 |
217.963 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
377.966 |
|
|
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
377.966 |
328.068 |
201.010 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.467 |
25.658 |
16.953 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.317 |
1.250 |
1.200 |
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|
PROFIT BEFORE
TAX |
24.150 |
24.408 |
15.753 |
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|
|
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|
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Less |
TAX |
7.833 |
8.158 |
5.375 |
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PROFIT AFTER TAX
|
16.317 |
16.250 |
10.378 |
|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
36.438 |
20.188 |
9.810 |
|
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|
BALANCE CARRIED
TO THE B/S |
52.755 |
36.438 |
20.188 |
|
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|
|
|
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|
Earnings Per
Share (Rs.) |
163.17 |
460.69 |
415.10 |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.03 |
4.59
|
4.76 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.34 |
9.77
|
9.53 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.52
|
0.69 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.87 |
4.37
|
6.25 |
|
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|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23 |
2.71
|
3.15 |
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 |
No |
|
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 |
UNSECURED LOAN
|
Particulars |
Rs. In Millions 31.03.2012 |
Rs. In Millions 31.03.2011 |
|
|
|
|
|
From Related Parties |
58.427 |
83.305 |
|
|
|
|
|
Total |
58.427 |
83.305 |
BACKGROUND
Company started
its operations a decade back. With the Total Group’s experience in logistics
domain and presence in pan-India, it achieved significant growth in 3PL and
allied activities. Today it manages more than one million square feet of
warehouses and inventory of about Rs.10000.000 Millions across various
locations. The Company has CHA license operative at all major ports of India.
Network of the freight forwarding agents in all continents has helped in
freight forwarding business. The Company’s long term objective is to establish
itself in the top bracket of the logistics industry.
FORM 8
|
Corporate
identity number of the company |
U63090MH1984PTC034075 |
|
Name of the
company |
TOTAL SHIPPING
AND LOGISTICS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Viraj Impex, House, 47, P D Mello Road, Mumbai-400007, Maharashtra |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement. |
|
Date of instrument
Creating the charge |
11.05.2012 |
|
Amount secured by
the charge |
Rs. 45.000
Millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of interest Interest = 11.50%
p.a. Terms of repayment On Demand. Margin As may be
stipulated by the Bank from time to time. Extent and operation of the charge Hypothecation by
way of exclusive first charge on Current Assets of the Company as for
repayment of loan together with all interest, charges, fees, penalty, taxes
and any other expenses payable to the Bank by the borrower. Other NIL. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation by way
of first exclusive charge on entire current assets of the Company. |
FIXED ASSETS
·
Office Premises
·
Office Equipments
·
Computer
·
Furniture
·
Motor Car
·
Plant and Machinery
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. 59.36 |
|
|
1 |
Rs. 89.69 |
|
Euro |
1 |
Rs. 77.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.