MIRA
INFORM REPORT
|
Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
VALUETREE LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Godown No. 1, Building No. P-1, Prithvi Complex, Rethi Bunder Road, Kalher
Village, Bhiwandi – 421302, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.06.2006 |
|
|
|
|
Com. Reg. No.: |
11-162629 |
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|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63011MH2006PTC162629 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14870C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV2946B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor of Office Stationery and Business Machines, Paper
Shredders, Binging and Laminating Machines, Laptop Bags, Computer Cleaning products.
Also Importer of Chemical Products. (Shampoo, Lotions) |
|
|
|
|
No. of
Employees: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 16000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. The external borrowing seems to be very
huge. However, trade relations are reported to be fair. Business is active.
Payments are slow. 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.
LOCATIONS
|
Registered Office : |
Godown No. 1, Building No. P-1, Prithvi Complex, Rethi Bunder Road,
Kalher Village, Bhiwandi – 421302, Maharashtra, India |
|
Tel. No.: |
91-22-66661000 / 66159977 |
|
Fax No.: |
91-22-66669870 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
509, Shah and Nahar, Off Dr. E. Moses Road, Worli, Mumbai – 400018,
Maharashtra,
India |
|
Tel. No.: |
91-22-40688000 |
|
Fax No.: |
91-22-66669870 |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Shailesh Karwa |
|
Designation : |
Director |
|
Address : |
Kamal Kunj,1st
Floor, 87-B,Bomanji Petit Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
06.03.1977 |
|
Date of Appointment : |
14.02.2012 |
|
DIN No.: |
00062674 |
|
|
|
|
Name : |
Ms. Anupama Sharad Dalmia |
|
Designation : |
Director |
|
Address : |
40,Prabhat,8th
Floor, Bhulabhai Desai Road, Mumbai-400006,Maharashtra, India |
|
Date of Appointment : |
14.02.2012 |
|
DIN No.: |
00062788 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Shailesh
Karwa |
5000 |
|
Anupama
Dalmia |
4500 |
|
Sharad
Dalmia |
500 |
|
TOTAL
|
10000 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Office Stationery and Business Machines, Paper Shredders,
Binging and Laminating Machines, Laptop Bags, Computer Cleaning products.
Also Importer of Chemical Products. (Shampoo, Lotions) |
GENERAL INFORMATION
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
·
Citi Bank N.A., Trent House, 2nd
Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Maharashtra, India ·
HDC Bank, Bhiwandi, Maharashtra, India ·
Syndicate Bank ·
Bank of Maharashtra |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sandeep Kabra and Associates Chartered Accountants |
|
Address : |
22, Manav Mandir, 17th Road, Siddharth Nagar, Goregaon
(West), Mumbai – 400062, Maharashtra, India |
|
Tel. No.: |
91-22-22078274 / 28745304 |
|
PAN No.: |
AAGPK8150P |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.099 |
1.449 |
0.817 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.199 |
1.549 |
0.917 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
23.546 |
5.292 |
7.184 |
|
|
TOTAL BORROWING |
23.546 |
5.292 |
7.184 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.745 |
6.841 |
8.101 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.015 |
0.024 |
0.000 |
|
|
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 |
18.654
|
4.418
|
5.428 |
|
|
Sundry Debtors |
9.225
|
1.553
|
2.230 |
|
|
Cash & Bank Balances |
9.961
|
2.138
|
1.996 |
|
|
Other Current Assets |
0.000
|
0.004
|
0.000 |
|
|
Loans & Advances |
7.505
|
0.579
|
0.163 |
|
Total
Current Assets |
45.345
|
8.692 |
9.817 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.441
|
1.559
|
1.329 |
|
|
Other Current Liabilities |
1.974
|
0.016
|
0.241 |
|
|
Provisions |
1.200
|
0.300
|
0.150 |
|
Total
Current Liabilities |
17.615
|
1.875 |
1.720 |
|
|
Net Current Assets |
27.730
|
6.817
|
8.097 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
27.745 |
6.841 |
8.101 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
103.447 |
10.284 |
7.152 |
|
|
|
Other Income |
8.482 |
|
|
|
|
|
TOTAL |
111.929 |
10.284 |
7.152 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
108.078 |
9.314 |
6.556 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
3.851 |
0.970 |
0.596 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.200 |
0.338 |
0.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
2.651 |
0.632 |
0.436 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
265.10 |
63.20 |
43.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.37
|
6.15 |
6.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.72
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.49
|
11.13
|
6.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.92
|
0.63
|
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.61
|
3.42
|
7.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.57
|
4.63
|
5.71 |
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 |
Yes |
|
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 |
No |
|
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 |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Inter Corporate Deposits |
17.846 |
5.292 |
|
From Shareholders |
5.700 |
0.000 |
|
|
|
|
|
TOTAL |
23.546 |
5.292 |
NOTE
Registered office of the company has been shifted from 509, Shah and
Nahar Industrial Estate, Dr. E Moses Road, Worli, Mumbai to the present address
w.e.f. 01.06.2008
NATURE OF
OPERATIONS
Subject was incorporated
in India on 14-06-2006 to carry on the business of Trading in Chemicals.
FINANCIAL RESULTS
The working for
the year resulted in a profit of Rs. 2.651 Millions as compared to Rs 0.631
Million in previous year, after providing Income Tax of Rs.1.200 Millions.
FORM 8
|
Corporate
identity number of the company |
U63011MH2006PTC162629 |
|
Name of the
company |
VALUETREE
LOGISTICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Godown No. 1, Building No. P-1, Prithvi Complex, Rethi Bunder Road,
Kalher Village, Bhiwandi – 421302, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Citi Bank N.A., Trent House, 2nd Floor, G Block, Plot
No.C60, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra,
India |
|
Nature of
instrument creating charge |
Goods Security
Agreement. |
|
Date of
instrument Creating the charge |
12.06.2012 |
|
Amount secured by
the charge |
Rs. 10.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest on principal
amount of the aforesaid fund based facilities advanced and outstanding form
time to time @ 13.25% p.a. (exclusive of applicable interest tax). Terms of repayment On demand. Margin 20% against the
said Stocks, 20% against the
said Book Debts. Extent and operation of the charge The hypothecated
First exclusive charge on Assets, shall remain as security to the Bank for
the due repayment by the Borrower to the Bank of the credit facilities
together with interest, costs, charges and expenses and other monies payable
by the Borrower and also for due payment and discharge of all
indebtedness/liability of the Borrower to the Bank. Other The Borrower
expressly recognizes and accepts that the Bank shall be absolutely entitled
and have full power/authority to sell, assign or transfer in any manner and
on such terms as the Bank may decide any or all outstanding dues of the
Borrower to any third party of the Bank's choice without any further
reference or intimation to the Borrower. |
|
Short particulars
of the property charged (Including location of the property) |
The whole of the
Borrower's present and future stocks of raw materials, goods in process of
manufacture, semi-finished goods and all finished and manufactured goods All of the
Borrower's present and future book debts, outstanding Monies, receivables,
claims, bills, investments, rights to or in moveable properties Pledge on
Fixed Deposit of Rs.2.5 MM. |
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. 54.33 |
|
|
1 |
Rs. 80.89 |
|
Euro |
1 |
Rs. 70.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.