MIRA INFORM REPORT
|
Report Date : |
25.04.2014 |
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. |
|
|
|
|
Line of Business
: |
Subject is engaged in Clearing and forwarding and allied activities. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
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 |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The concern has recovered its operation losses during financial year 2013.
However, profitability of the company is 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. Note: Company has change its financial year form 15 months to 12
months. |
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US initial
public offering. Alibaba, which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-9930715551 |
|
Date : |
25.04.2014 |
LOCATIONS
|
Registered
Office/ Corporate Office : |
4th Floor, |
|
Tel. No.: |
91-22-66020600 |
|
Mobile No.: |
91-9930715551 (Mr. Ramesh) |
|
Fax No.: |
91-22-66020670 |
|
E-Mail : |
deepal.shah@hindustancargoltd.in amit.dodani@allcargoglobal.com |
|
Website : |
|
|
Area : |
2500 sq.fts |
|
Location : |
Leased |
|
|
|
|
Branch Office 1
: |
202, Polaris, “B” Wing, Off |
|
Tel. No.: |
91-22-66020600 |
|
Fax No.: |
91-22-66020680 |
|
|
|
|
Branch Office 2 : |
Sonal – Kamal Compound, Opposite Dhantak Plaza, Marol Makwana Road, Andheri (East), Mumbai – 400059, Maharashtra, India. |
|
Tel. No.: |
91-22-6602 0600 |
|
Fax No.: |
91-22-6602 0680 |
|
Area : |
5000 sq. ft |
|
Location : |
Leased |
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 : |
|
|
|
|
|
Name : |
Mr. Ramesh |
|
Designation : |
Chief Financial Officer |
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 : |
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Terms : |
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||||
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Selling : |
Cash / Credit |
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||||
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
300 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
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 : |
|
|
|
|
|
Fellow Subsidiaries |
|
|
|
|
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 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
2750.000 |
|
|
|
|
|
The above information has been parted by Mr. Ramesh
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
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
17.298 |
17.548 |
|
Reserves & Surplus |
316.606 |
338.106 |
|
Net
worth |
333.904 |
355.654 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
9.651 |
0.000 |
|
Total
borrowings |
9.651 |
0.000 |
|
Debt/Equity
ratio |
0.029 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1758.418 |
3103.311 |
2565.837 |
|
|
|
76.483 |
(17.319) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1758.418 |
3103.311 |
2565.837 |
|
Profit |
42.431 |
(11.149) |
11.750 |
|
|
2.41% |
-0.36% |
0.46% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
HEN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
34 |
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.