MIRA INFORM REPORT
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Report Date : |
26.12..2014 |
IDENTIFICATION DETAILS
|
Name : |
ALPHARD MARITIME PRIVATE LIMITED |
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Registered
Office : |
B – 14, Gundecha Onclave, Saki Village, Kherani Road, Andheri East,
Mumbai – 400072, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.06.2009 |
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Com. Reg. No.: |
11-193497 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U74990MH2009PTC193497 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Providing Marine Services and UT gauging services. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 satisfactory track record. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct and as per commitment. 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.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Ms. Smita |
|
Designation : |
Account Manager |
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Contact No.: |
91-22-67256765 |
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Date : |
26.12.2014 |
LOCATIONS
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Registered Office : |
1/2, B-14, Gundecha Onclave, Saki-village, |
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Tel. No.: |
91-22-67254100 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
B1/B2 6th Floor, gundecha onclave, Sakinaka, Andheri
(East), Mumbai – 400072, |
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Tel. No.: |
91-22-67256765 |
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Branches : |
B-16, 1/2, Gundecha Onclave, |
DIRECTORS
As On 15.09.2014
|
Name : |
Mr. Alok Kumar |
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Designation : |
Director |
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Date of Appointment : |
23.06.2009 |
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DIN No.: |
02654928 |
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Name : |
Priti Kumari |
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Designation : |
Director |
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Date of Appointment : |
23.06.2009 |
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DIN No.: |
02656244 |
KEY EXECUTIVES
|
Name : |
Ms. Smita |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Alok Kumar |
5000 |
50.00 |
|
Priti Kumar |
5000 |
50.00 |
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Total |
10000 |
100.00 |
As on 15.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Marine Services and UT gauging services. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Luniya and Company Chartered Accountants |
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Address : |
203/A, |
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PAN No.: |
ACZPL1287F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Not Available |
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Enterprises which exercise control : |
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Fellow Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As On 15.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
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(b) Reserves & Surplus |
10.941 |
7.160 |
3.109 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
11.041 |
7.260 |
3.209 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
18.683 |
18.760 |
11.399 |
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(b) Deferred tax liabilities (Net) |
0.506 |
0.507 |
0.264 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
19.189 |
19.267 |
11.663 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
2.162 |
1.425 |
0.000 |
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(b) Trade
payables |
0.977 |
4.090 |
5.734 |
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(c) Other
current liabilities |
0.822 |
0.258 |
0.293 |
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(d) Short-term
provisions |
5.952 |
4.006 |
2.089 |
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Total Current
Liabilities (4) |
9.913 |
9.779 |
8.116 |
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TOTAL |
40.143 |
36.306 |
22.988 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
20.647 |
21.767 |
15.497 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
4.811 |
3.074 |
1.312 |
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(e) Other
Non-current assets |
0.000 |
0.000 |
0.040 |
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Total Non-Current
Assets |
25.458 |
24.841 |
16.849 |
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(2)
Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
9.648 |
6.741 |
4.676 |
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(d) Cash
and cash equivalents |
1.512 |
1.214 |
0.786 |
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(e)
Short-term loans and advances |
3.481 |
3.507 |
0.671 |
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(f) Other
current assets |
0.044 |
0.003 |
0.006 |
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Total
Current Assets |
14.685 |
11.465 |
6.139 |
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TOTAL |
40.143 |
36.306 |
22.988 |
PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
32.668 |
30.391 |
26.149 |
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Other Income |
0.227 |
0.492 |
0.880 |
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TOTAL (A) |
32.915 |
30.883 |
27.029 |
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Less |
EXPENSES |
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Cost of Material Consumed |
0.005 |
0.268 |
0.175 |
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Employees benefit expenses |
13.931 |
11.567 |
8.282 |
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Other Expenses |
9.592 |
10.717 |
13.916 |
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TOTAL (B) |
23.528 |
22.552 |
22.373 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
9.387 |
8.331 |
4.656 |
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Less |
FINANCIAL
EXPENSES (D) |
1.259 |
0.831 |
0.024 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.128 |
7.500 |
4.632 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.654 |
1.637 |
0.574 |
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PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
5.474 |
5.863 |
4.058 |
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Less |
TAX (H) |
1.694 |
1.813 |
1.256 |
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PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3.780 |
4.050 |
2.802 |
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EARNINGS IN
FOREIGN CURRENCY |
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TOTAL EARNINGS |
24.641 |
19.970 |
19.314 |
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Earnings /
(Loss) Per Share (Rs.) |
378.06 |
405.10 |
280.24 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
11.57
|
13.32 |
10.71 |
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Operating Profit Margin (PBDIT/Sales) |
(%) |
28.73
|
27.41 |
17.62 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
13.64 |
16.15 |
17.65 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.50 |
0.81 |
1.26 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.89 |
2.78 |
3.55 |
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Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.17 |
0.76 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
3.109 |
7.160 |
10.941 |
|
Net
worth |
3.209 |
7.260 |
11.041 |
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|
long-term borrowings |
11.399 |
18.760 |
18.683 |
|
Short term borrowings |
0.000 |
1.425 |
2.162 |
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Total
borrowings |
11.399 |
20.185 |
20.845 |
|
Debt/Equity
ratio |
3.552 |
2.780 |
1.888 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
26.149 |
30.391 |
32.668 |
|
|
|
16.222 |
7.492 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
26.149 |
30.391 |
32.668 |
|
Profit |
2.802 |
4.050 |
3.780 |
|
|
10.72% |
13.33% |
11.57% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT
MATURITY LONG TERM DEBT DETAILS ARE 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 |
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 |
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 |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10350102 |
12/04/2012 |
7,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
B37709375 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Unsecured Loan |
9.598 |
8.635 |
|
|
|
|
|
Total |
9.598 |
8.635 |
FIXED ASSETS
- Computer
Equipment
- Office
Equipment
- Furniture and
Fixtures
- Machinery
- Office at
Gundecha
- Air
Conditioner
- Camera
- Printer
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. 63.46 |
|
|
1 |
Rs. 98.51 |
|
Euro |
1 |
Rs. 77.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.