|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SHUBHAM LOGISTICS LIMITED (w.e.f. 20.04.2007) |
|
|
|
|
Formerly Known
As : |
SHREE SHUBHAM LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.A-1 and A-2, G.I.D.C. Electronic Estate, Sector – 25,
Gandhinagar – 382 004, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.01.2007 |
|
|
|
|
Com. Reg. No.: |
04-049796 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.580.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60232GJ2007PLC049796 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS13821D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS4924N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider of Warehousing, Stock Trading / Money Market, Quality Management Consultants. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Kalpataru Power Transmission Limited”. It
is an established company having a satisfactory track record. The company has seen a better increase in its turnover as well as net
profitability during 2013. Profit margin appears to be decent. However,
external borrowings appears to be huge and increasing over previous year. The
position of reserves seems to be low, whereas the overall position is
satisfactory. Trade relations are fair. Business is active. Payment terms are
reported as slow. In view of strong holdings and experienced co-promoters, the subject
can be considered 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.
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 India from 1st November.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
03.04.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
03.04.2013 |
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 BY
|
Name : |
Mr. V. Shah |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-79-23214000 |
|
Date : |
28.11.2013 |
LOCATIONS
|
Registered Office : |
Plot No.A-1 and A-2, G.I.D.C. Electronic Estate, Sector – 25,
Gandhinagar – 382 004, Gujarat, India |
|
Tel. No.: |
91-79-23214000 |
|
Fax No.: |
91-22-23211966/
23211971 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Unit No. 11 and M1, "Kalpataru Square", Kondivita Road, Off Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India. |
|
Tel. No.: |
91-22-33647500 / 7501 |
|
Fax No.: |
91-22-33647502 / 7506 |
|
E-Mail : |
|
|
|
|
|
Regional Office
: |
C/o Kalpataru
Theatres Private Limited, E-4, Shastri Nagar, |
|
Tel. No.: |
91-291-2771212/
2771072 |
|
Fax No.: |
91-291-2771744 |
|
|
|
|
Analysis and
Certification Laboratory : |
H-11, Goan Mandi Premises
(Basni Mandi), Bhagat Ki Kothi, 2nd Phase, |
|
Tel. No.: |
91-291-2720277 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1: |
ALP Situated at Khasra No.137/3, 137/5, 141/5, 142/1, 154,
137/158 a, 142/2, 141/2/2, 141/2/1 and 142/3, AB Road Byepass, Village
Anwartpura, |
|
|
|
|
Branch Office 2: |
ALP - Deesa, Survey No.5 Part3 / Part 1, Mouje Rasana Nana,Taluka – Deesa, District – Banaskantha - 385535, Gujarat, India |
|
Tel. No.: |
91-2744-263100 |
DIRECTORS
As on: 24.07.2013
|
Name : |
Mr. Aditya Gyanendra Bafna |
|
Designation : |
Whole-Time Director |
|
Address : |
C-55, Shastri Nagar, Jodhpur – 342 003, Rajasthan, India |
|
Date of Birth/Age : |
03.05.1981 |
|
Date of Appointment : |
19.01.2007 |
|
PAN No.: |
AEYPB6836M |
|
DIN No.: |
00441510 |
|
|
|
|
Name : |
Mr. Shubhendra Kumar Gyanendra Bafna |
|
Designation : |
Whole-Time Director |
|
Address : |
C-55, Shastri Nagar, Jodhpur – 342 003, Rajasthan, India |
|
Date of Birth/Age : |
05.12.1983 |
|
Date of Appointment : |
19.01.2007 |
|
PAN No.: |
AFBPB5698H |
|
DIN No.: |
00464191 |
|
|
|
|
Name : |
Mr. Manish Dashrathmal Mohnot |
|
Designation : |
Director |
|
Address : |
C/4/11, Sunder Nagar, S.V. Road, Malad (West), Mumbai – 400 064, Maharashtra, India |
|
Date of Birth/Age : |
15.05.1972 |
|
Date of Appointment : |
15.03.2007 |
|
DIN No.: |
01229696 |
|
|
|
|
Name : |
Mr. Kamalkishore Mohanlalji Jain |
|
Designation : |
Director |
|
Address : |
Madhu Park, Plot No.110, Near Shopping Centre, Sector 08, Gandhinagar – 382 044, Gujarat, India |
|
Date of Birth/Age : |
05.06.1957 |
|
Date of Appointment : |
15.03.2007 |
|
PAN No.: |
AAACK8387R |
|
DIN No.: |
00269810 |
|
|
|
|
Name : |
Mr. Ravindra Jain |
|
Designation : |
Director |
|
Address : |
Plat No.3, Tulsi Villa 67, Vithal Nagar Society Road No.12, Ns JVPD Schem, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1957 |
|
Date of Appointment : |
16.11.2011 |
|
DIN No.: |
00281279 |
|
|
|
|
Name : |
Mr. Abinash Verma |
|
Designation : |
Director |
|
Address : |
W-99, 2nd Floor, Creater Kailash, Parti, New Delhi – 110048, India |
|
Date of Birth/Age : |
26.06.1963 |
|
Date of Appointment : |
17.07.2012 |
|
DIN No.: |
03063104 |
|
|
|
|
Name : |
Ms. Hetal Madhukant Gandhi |
|
Designation : |
Director |
|
Address : |
Rosy Chs, Flat No.61, North Avenue, Santacruz (West), Mumbai – 400011, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1965 |
|
Date of Appointment : |
31.05.2013 |
|
DIN No.: |
00106895 |
KEY EXECUTIVES
|
Name : |
Vishesh Narendra Singhvi |
|
Designation : |
Secretary |
|
Address : |
D-76, Kamla Nehru Nagar, |
|
Date of Birth/Age : |
13.04.1979 |
|
Date of Appointment : |
24.05.2008 |
|
PAN No. : |
AOQPS7941Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.07.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Aditya Gyanendra Bafna |
|
2762500 |
|
Shubhendra Kumar Gyanendra Bafna |
|
2211500 |
|
Ridhi Aditya Bafna |
|
372500 |
|
Mamta Shubhendra Bafna |
|
663500 |
|
Bafna Gyanendra Shubhendrakumar Karta of Shubhendra Kumar Bafna HUF |
|
260000 |
|
Kalpatartu Power Transmission Limited, |
|
35850000 |
|
Total |
|
42120000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Aditya Gyanendra Bafna |
|
951000 |
|
Shubhendra Kumar Gyanendra Bafna |
|
1122000 |
|
Ridhi Aditya Bafna |
|
176000 |
|
Kalpatartu Power Transmission Limited, India |
|
13500000 |
|
Shubham Fiscal Services Private Limited, India |
|
131000 |
|
Tano India Private Equity Fund II, Mauritius |
|
4680000 |
|
Total |
|
20560000 |
Equity Share Break up (Percentage of Total Equity)
As on: 24.07.2013
|
Category |
Percentage |
|
Bodies corporate |
10.00 |
|
Directors or relatives of Directors |
76.60 |
|
Other top fifty shareholders |
13.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Warehousing, Stock Trading / Money
Market, Quality Management Consultants. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Development Credit Bank Limited, 601 and 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India · Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India · Union Bank Of India, Industrial Finance Branch, C U Shah Chambers, Ashram Road, Ahmedabad - 380009, Gujarat, India · HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kishan M. Mehta and Company Chartered Accountants |
|
Address : |
6, Premchand House Annexe, |
|
Tel. No.: |
91-79-26581570/ 66055570 |
|
Fax No.: |
91-79-66311570 |
|
E-Mail : |
|
|
PAN No.: |
AABFK8413G |
|
|
|
|
Holding company : |
Kalpataru Power Transmission Limited |
|
|
|
|
Associates : |
· Kalpataru Theatres Private Limited · Sai Charan properties Private Limited · Kalpataru Limited · Kalpataru Properties Thane Private Limited · Property Solution (I) Private Limited · Shree Pujaya kripa Cold Storage LLP |
|
|
|
|
Other Related
Parties : |
Kalpataru shubham Enterprises |
CAPITAL STRUCTURE
As on: 24.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
16000000 |
Preference Shares |
Rs.10/- each |
Rs.160.000 Millions |
|
|
Total |
|
Rs.760.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46800000 |
Equity Shares |
Rs.10/- each |
Rs.468.000
Millions |
|
15880000 |
Preference Shares |
Rs.10/- each |
Rs.158.800
Millions |
|
|
Total |
|
Rs.626.800 Millions |
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
16000000 |
Preference Shares |
Rs.10/- each |
Rs.160.000 Millions |
|
|
Total |
|
Rs.760.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42120000 |
Equity Shares |
Rs.10/- each |
Rs.421.200
Millions |
|
15880000 |
Preference Shares |
Rs.10/- each |
Rs.158.800
Millions |
|
|
Total |
|
Rs.580.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
580.000 |
580.000 |
420.000 |
|
(b) Reserves & Surplus |
138.339 |
24.727 |
(7.521) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
718.339 |
604.727 |
412.479 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2579.217 |
1803.340 |
1251.288 |
|
(b) Deferred tax liabilities (Net) |
40.728 |
10.482 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.612 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
2620.557 |
1813.822 |
1251.288 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
499.210 |
331.640 |
231.249 |
|
(b) Trade payables |
620.264 |
89.236 |
70.297 |
|
(c) Other current
liabilities |
353.501 |
268.740 |
164.917 |
|
(d) Short-term provisions |
24.149 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
1497.124 |
689.616 |
466.463 |
|
|
|
|
|
|
TOTAL |
4836.020 |
3108.165 |
2130.230 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2488.241 |
1724.900 |
1418.255 |
|
(ii) Intangible Assets |
46.330 |
6.670 |
4.123 |
|
(iii) Capital
work-in-progress |
310.955 |
88.319 |
29.000 |
|
(iv) Intangible
assets under development |
0.000 |
1.420 |
2.284 |
|
(b) Non-current Investments |
3.487 |
3.264 |
2.884 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
4.106 |
|
(d) Long-term Loan and Advances |
69.370 |
71.691 |
16.380 |
|
(e) Other Non-current assets |
60.027 |
44.064 |
24.946 |
|
Total Non-Current Assets |
2978.410 |
1940.328 |
1501.978 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
879.969 |
477.769 |
314.763 |
|
(c) Trade receivables |
727.361 |
323.756 |
187.269 |
|
(d) Cash and cash
equivalents |
17.549 |
244.906 |
32.209 |
|
(e) Short-term loans and
advances |
92.515 |
75.744 |
70.911 |
|
(f) Other current assets |
140.216 |
45.662 |
23.100 |
|
Total Current Assets |
1857.610 |
1167.837 |
628.252 |
|
|
|
|
|
|
TOTAL |
4836.020 |
3108.165 |
2130.230 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2318.713 |
2029.596 |
1360.346 |
|
|
|
Other Income |
108.858 |
7.517 |
5.628 |
|
|
|
TOTAL (A) |
2427.571 |
2037.113 |
1365.974 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
2140.827 |
1643.659 |
1185.259 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(399.203) |
(170.700) |
(204.734) |
|
|
|
Employee benefit expense |
94.310 |
80.221 |
75.317 |
|
|
|
Other expenses |
199.541 |
228.711 |
114.294 |
|
|
|
TOTAL (B) |
2035.475 |
1781.891 |
1170.136 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
392.096 |
255.222 |
195.838 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
160.861 |
181.252 |
139.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
231.235 |
73.970 |
56.463 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
34.076 |
27.134 |
21.792 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
197.159 |
46.836 |
34.671 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
51.229 |
14.588 |
10.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
145.930 |
32.248 |
23.920 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.723 |
(7.525) |
(31.441) |
|
|
|
|
|
|
|
|
|
|
PRIOR
PERIOD INCOME TAX |
0.000 |
0.000 |
(0.004) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
170.653 |
24.723 |
(7.525) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
409.749 |
266.370 |
61.200 |
|
|
TOTAL EARNINGS |
409.749 |
266.370 |
61.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.29 |
0.93 |
0.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.01
|
1.58
|
1.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.50
|
2.31
|
2.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.36
|
1.55 |
1.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.08 |
0.008 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.29
|
3.53 |
3.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.69 |
1.35 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT
(Rs. in Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
137.784
|
127.702 |
113.953 |
|
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 |
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 |
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM BORROWINGS |
|
|
|
Term loans from others |
1619.990 |
750.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
0.000 |
105.381 |
|
Total |
1619.990 |
855.381 |
OPERATIONS:
During the Financial Year 2012-13, the Company achieved total revenues of Rs 2427.571 Millions which is an increase of 19 % over the Financial Year 2011-12. The company has earned a net profit after tax of Rs 145.930 Millions during the same period.
The company operates in the Indian agricultural sector, addressing the critical supply chain requirements for a large ecosystem of farmers, traders, banks, agri processors and retail chains. Over the years, the Company has developed a deep understanding of the sector. The farm to the fork agri supply chain is beset with inefficiencies at every stage, leading to poor prices to the producers and higher costs to the final consumers. With a large and growing storage infrastructure, the company plays a key role in enabling better efficiencies in the supply chain. With a view to expand its infrastructure to cater to a wider based of customers, the Company has entered initiated a second phase of expansion, operationalizing four Agri Logistics Parks (ALP) in Madhya Pradesh at Dewas, Neemuch, Itarsi and Harda. Further the company has expanded capacity at its existing ALP in Deesa in Gujarat. With these expansions, the Company currently operates a capacity of about 11 Millions MT across the states of Rajasthan, Madhya Pradesh and Gujarat. These ALPs are equipped to provide a bouquet of services to manage risks across various stages of the supply chain.
The Company offers end-to-end logistics solutions under one roof. It provides services encompassing storage and preservation with a chain of dry and cold storage units, weighing, Testing and Certification (grading and sorting facilities for standardization of agricultural produce), collateral management for commodity financing against warehouse receipts/stocks with the help of Banks, fumigation and pest management, commodity procurement etc.
The company has established itself as one of the largest private players in the Agri Logistics Sector by entering into a first of its kind MOU with Rajasthan State Warehouse Corporation (RSWC) on 5th March, 2010. It involves Warehousing Management and providing other value added services under one roof like Weighment, Testing and Certification, Commodity Funding, Procurement and other allied services, in the state of Rajasthan. Under the Memorandum of Understanding (MOU), the Company is currently managing and operating RSWC warehouses at 38 locations with a storage capacity of around 5 lac MT.
The Company is accredited by the National Commodities and Derivates Exchange Ltd (NCDEX) and NCDEX Spot Exchange as an approved Assayer (Testing and Certification) and Warehouse Service provider and currently 25 of its warehouses are accredited as NCDEX Delivery Centres for various commodities. The company has already handled volumes in various commodities (Mustard, Cumin Seeds, Guar Seed, Guar Gum, Barley, Coriander, Soybean, Castor, Cotton Oil Seed Cake etc.) traded on NCDEX in the demat Form and so far successfully delivered without any claim on account of Quality and Quantity.
The Company is also engaged in Domestic and International Trading of various types of commodities and achieved an export turnover of Rs. 409.749 Millions in F.Y.2012-13 which was a growth of around 54% over the previous year.
The company implemented Systems, Applications and Products (SAP) at 38 Rajasthan State Warehousing Corporation (RSWC) locations covered under the MoU.
The Company would be the first private company in Agri Logistics Industry to have its own infrastructure spread across the states of Rajasthan, Gujarat, Madhya Pradesh and Maharashtra.
BUSINESS OUTLOOK AND
OPPORTUNITIES:
India has produced 255.36 million tons of food grains during 2012-13 as compared to 259.29 million tons during 2011-12. The total production of rice in the country is estimated at 104.40 million tons during 2012-13 as against 105.31 million tons during 2011-12. Production of wheat is estimated at 92.46 million tons during 2012-13 as compared with 94.88 million tons during the corresponding period of previous year. The production of pulses is estimated at 18.45 million tons during 2012-13 as against 17.09 million tons in 2011-12.
According to the Ministry of Agriculture, Indian government has put the food-grains production target of 259 MT for the year 2013-14 which is projected to increase by 1.5 per cent in 2013-14. This will come over an estimated decline of 2.3 per cent in 2012-13. We expect higher production of rice, coarse cereals and pulses to drive the growth in output.
With the total storage capacity available to the government estimated at around 71 Million Tons (MT), the mammoth food grain stocks will pose an unprecedented storage crisis for the government, wherein a large quantity of wheat will be stored in the open, susceptible to damage and losses from monsoon rains, temperature changes, pests/rodents and pilferage. In an effort to lower the stocks to manageable level, the government has
approved exports of an additional 5 Million Tons of government-held wheat from Punjab and Haryana by private traders. The government has already allowed exports of 4.5 Million Tons of wheat by government parastatals.
The Indian Government has also proposed the implementation of Food Security Bill. The bill aims to give legal rights to 67 per cent of the population over a uniform quantity of 5 kg food grains at a fixed price of Rs 1-3 per kg through ration shops. The annual requirement of food grains for implementation of the proposed National Food Security Act is estimated at 61.43 million tons while the storage capacity available with the Food Corporation of India as on June 30, 2013 was 39.17 million tons.
Besides the storage capacity with state agencies for storage of central stock of food grains is 35.42 million tons. Thus, a total storage capacity of 74.60 million tons is available for storage of Central stock of food grains. In order to augment the covered storage capacity; the government is implementing Private Entrepreneur Guarantee (PEG) Scheme for construction of storage godowns through private entrepreneurs, Central and State Warehousing Corporations. Under the scheme, a capacity of 20.4 million tons has been approved for construction of godown at various locations in 19 States. A capacity of 7.3 million tons has already been completed.
The government has also approved construction of 2 million tons of storage capacity in silos within the overall sanctioned capacity of PEG scheme. In addition, under the Plan Scheme there is a proposal to augment 6,10,860 tons capacity food grain godown by FCI during 12th Five Year Plan (2012-17). This includes 5,34,640 tons in North East areas, including Sikkim and 76,220 tons capacity in other areas.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10451759 |
30/09/2013 |
300,000,000.00 |
DEVELOPMENT CREDIT BANK LIMITED |
601 & 602, Peninsula Business Park, 6th floor,,
T |
B86045697 |
|
2 |
10452502 |
28/09/2013 |
600,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj |
B86454204 |
|
3 |
10391732 |
20/11/2012 |
3,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B64037658 |
|
4 |
10385826 |
21/06/2013 * |
1,838,900,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B80546690 |
|
5 |
10381510 |
14/05/2013 * |
300,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B75954735 |
|
6 |
10375178 |
19/07/2012 |
1,376,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B57550709 |
|
7 |
10353759 |
14/05/2013 * |
801,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B76648765 |
|
8 |
10125299 |
14/05/2013 * |
400,000,000.00 |
Union Bank of India |
Industrial Finance Branch, C U Shah Chambers, Ash |
B76662238 |
* Date of charge modification
FIXED ASSETS:
· Leasehold Land
· Freehold Land
· Buildings
· Plant and Machineries
· Furniture, Fixtures and Office Equipments
·
Vehicles
·
Computer
AS PER WEBSITE DETAILS:
PRESS RELEASES:
SHUBHAM LOGISTICS RAISES RS 800.000 MILLIONS FROM PE FUND TANO INDIA
HYDERABAD, APRIL 15:
Agri-logistics player Shree Shubham Logistics has concluded an agreement with Tano India Private Equity Fund to raise Rs 800.000 Millions to fund its capacity expansion plans.
Shubham Logistics, a subsidiary of Kalpataru Power Transmission Limited, currently operates about 90 agri-warehouses across India with a total capacity of about 11 lakh tonnes (lt). Out of this, the company owns an inventory of 3.6 lt, the rest is operated through tie-ups and long-term lease contracts.
“The fund will support our expansion plans in Maharashtra, Rajasthan, Madhya Pradesh and down south in Andhra Pradesh and Karnataka,” Aditya Bafna, Executive Director, told Business Line.
He said Tano would now hold a minority stake of below 20 per cent in the company.
Tano is currently investing from its second India fund, Tano India Private Equity Fund II. Tano Capital was founded by Charles E. Johnson, formerly Co-President of Franklin Templeton Investments and CEO of Templeton Worldwide Inc.
The logistics firm, which provides the entire range of warehousing services, including transportation, grading, sorting, testing, storage and fincing of agri commodities, is executing a Rs 2700.000 Millions capacity expansion programme.
“We will be adding a new warehousing capacity of about 2.4 lakh tonnes by October this year, as part of this expansion. These facilities are coming up in Maharashtra, Rajasthan and Madhya Pradesh,” Bafna said.
After this phase, the company has plans to take up another Rs 2000.000 Millions expansion to add a capacity of about four lt in the next two years. “After this, we will own about 10 lakh tonnes of capacity and operate a total of 20 lakh tonnes warehousing capacity,” he said.
SHUBHAM LOGISTICS TO EXPAND WAREHOUSING CAPACITY
HYDERABAD FEB
25:
Leading agri-logistics player Shree Shubham Logistics is adding four lakh tonnes of warehousing capacity by September 2013, as domestic demand for warehousing for agri commodities balloon.
The company, which has an inventory of two lakh tonnes, is spending Rs 2700.000 Millions on the new warehouses coming up across 16 locations spread over Madhya Pradesh, Maharashtra and Rajasthan.
A subsidiary of the Kalpataru Power Transmission Limited, Shubham Logistics provides the entire range of warehousing services, including transportation, grading, sorting, testing, storage and financing of a bevy of agricultural commodities.
Aditya Bafna, Executive Director, said in the next phase, the company will take up projects for another four lakh tonnes of warehousing capacity at a cost of Rs 2000.000 Millions.
“These warehouses, to be completed by 2014, will be located in new states such as Andhra Pradesh, Karnataka, Uttar Pradesh and Bihar,” he told Business Line.
WAREHOUSING DEMAND
Agri-warehousing and logistics is emerging as a big business for private players, as India currently faces a need for at least 120 million tonnes of warehousing (including for chemical fertilisers) and cold storage capacities.
This shortage is expected to widen to 123 million tonnes by 2014-15.
One of the deterrents for private players’ entry into the segment is the prolonged payback time.
“This is a capital intensive business - the cost of construction on an average is Rs 5,000 for a tonne of warehousing capacity.
“But the breakeven could be between 10 and 12 years,” Bafna said.
The firm is foraying into the cold chain segment, planning the first project for coriander (dhaniya) at Ramganj mandi in Rajasthan and second for cumin seeds (jeera).
“The projects involve procurement, cold transportation, processing, cold storage and transportation to consumption centres. Initial capacity will be for 15,000 tonnes, which we expect to commission in six to eight months,” he said.
RAJASTHAN TIE-UP
Shubham is engaged in managing and operating 38 warehouses of Rajasthan State Warehousing Corporation with a capacity of 4.7 lakh tonnes.
“From a bare Rs 10.000 Millions profit in 2008-09 when we took over, this year these facilities will earn a profit of Rs 250.000 Millions,” Bafna said.
Several states, including Andhra Pradesh, Maharashtra, Madhya Pradesh and Gujarat have approached the firm for a similar tie-up on gross revenue sharing basis.
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.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.