|
Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
CARGO PARTNER LOGISTICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
122A, Southern Avenue, 5th Floor, Kolkata – 700029, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
19.10.2006 |
|
|
|
|
Com. Reg. No.: |
21-111583 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.181.730 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63013WB2006FTC111583 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALC05768A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC9129K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of providing freight and other
cargo forwarding services. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 420000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a music television network company having a moderate track
record. There appears huge loss recorded by the company in the year 2012. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to retain
100 per cent foreign direct investment in both greenfield (new) and brown field
(existing) pharmaceutical companies, despite concerns over genetic drugs going
out of production, if multi-national companies take over domestic ones. In
M&A deals, a non compete clause would not be allowed, except in special
circumstances. The Department of Industrial Policy and Promotion plans to
release the next edition of its consolidated foreign direct investment policy
document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India committee
has recommended setting up a special category of lenders who would cater to
small businesses and households, to expand the number of customers with access
to banking services. These banks would focus on providing payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account
in mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
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 : |
Ms. Jesica |
|
Designation : |
Office Executives |
|
Contact No.: |
91-22-67876000 |
|
Date : |
03.02.2014 |
LOCATIONS
|
Registered Office : |
122A, Southern Avenue, 5th Floor, Kolkata – 700029, West
Bengal, India |
|
Tel. No.: |
91-33-30080660/ 39840755 |
|
Fax No.: |
91-33-39840660/ 39840757 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
129/130/131 1st Floor,
Sahar Cargo Estate, Off J B Nagar, Chakala, Andheri (East), Mumbai – 400099,
Maharashtra, India
|
|
Tel. No.: |
91-22-67876000 |
|
Fax No.: |
91-22-28265590 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at: · Delhi · Kolkata · Panipat · Ludhiana · Jaipur · Bangalore · Coimbatore · Chennai · Tuticorin · Ahmedabad · Baroda |
DIRECTORS
(AS ON 29.05.2013)
|
Name : |
Joachim Feiks |
|
Designation : |
Director |
|
Address : |
Heinrich-Albrecht-Gasse 2/1, Brunn AM Gebirge Austria 2345 |
|
Date of Birth/Age : |
31.10.1960 |
|
Date of Appointment : |
09.05.2011 |
|
DIN No.: |
03500654 |
|
|
|
|
Name : |
Stefan Mag Krauter |
|
Designation : |
Director |
|
Address : |
Jaegerhausg 21 A- 2340 Moedling Moedling Austria 2340 |
|
Date of Birth/Age : |
21.02.1955 |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
06524359 |
|
|
|
|
Name : |
Alena Blahutova |
|
Designation : |
Director |
|
Address : |
U. Antona Bernolaka, 694/5 Charvastky Grob Slovakia 90025 |
|
Date of Birth/Age : |
29.01.1963 |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
06524370 |
|
|
|
|
Name : |
Jaroslav Kypr |
|
Designation : |
Additional Director |
|
Address : |
Turnianska 30 903 01 Senec Slovenska Republika |
|
Date of Birth/Age : |
07.01.1978 |
|
Date of Appointment : |
11.12.2013 |
|
DIN No.: |
06739487 |
|
Email : |
KEY EXECUTIVES
|
Name : |
Ms. Jesica |
|
Designation : |
Office Executives |
|
|
|
|
Name : |
Mrs. Vinita Pareek |
|
Designation : |
Secretary |
|
Address : |
794, FF Sector – 4 Gurgaon 122001, Haryana India |
|
Date of Birth/Age : |
24.05.1982 |
|
Date of Appointment : |
13.06.2012 |
|
PAN No.: |
APYPP0300H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.05.2013)
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
|
|
|
|
W-Trans Spedition Gmbh, Austria |
|
1 |
|
Multi Transport Undlogistik Holding AG, Austria |
|
909929 |
|
|
|
|
|
Total |
|
909930 |
|
|
||
|
Names of Shareholders |
|
No. of Shares (Preference) |
|
|
|
|
|
Multi Transport Undlogistik Holding AG, Austria |
|
1959588 |
|
|
|
|
|
Total |
|
1959588 |
(AS ON 30.06.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of providing freight and other
cargo forwarding services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
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Bankers : |
Not Divulged |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ray and Ray Chartered Accountants |
|
Address : |
6, Church Lane, Kolkata – 700001, West Bengal, India |
|
PAN No.: |
AADFR8764R |
|
|
|
|
Holding Company : |
·
Multi Transport Und Logistik Holding AG (
w.e.f. 10th December, 2009) |
|
|
|
|
Fellow Subsidiaries : |
· Cargo-partner GmbH, Austria · Cargo-partner d.o.o. Beograd, Serbia · Cargo-partner CR s.r.o., Czech Republic · Cargo-partner LLC, Ukraine · Cargo-partner SAS, France · Cargo-partner bvba, Belgium · Cargo-partner SR s.r.o., Slovakia · Cargo-partner Network B.V., Netherlands · Cargo-partner Hungaria F. Kft, Hungary · Cargo-partner Immoinvest Kft, Hungary · Cargo-partner d.o.o., Slovenia · Cargo-partner Network Limited, Taiwan · Cargo-partner Spedycja Sp.z.o.o., Poland · Cargo-partner Logistics (China) Limited, China · Cargo-partner GmbH, Germany · Cargo-partner Oy, Finland · Cargo-partner Asia Pacific Limited, Hong Kong · Cargo-partner Logistics Limited, Hong Kong · Cargo-partner Expeditii s.r.l., Romania · Cargo-partner d.o.o., Bosnia and Herzegovina · Cargo-partner EOOD, Bulgaria · Cargo-partner d.o.o., Croatia · Cargo-partner Logistics Ltd., Thailand · Cargo-partner s.r.l., Moldova · Cargo-partner Limited, Great Britain · OT Overseas Transport Gmbh, Germany · ABC European Air and Sea Cargo Distribution Transport Gmbh, Austria · ABC European Air and Sea Cargo Distribution Transport, SARL, France · ABC European Air and Sea Cargo Distribution Transport s.r.l., Romania · ABC European Air and Sea Cargo Distribution Transport Podjetje d.o.o.,Slovenia · ABC European Air and Sea Cargo Distribution s.r.o., Slovakia · ABC European Air and Sea Cargo d.o.o. Novi sa, Serbia · ABC European Air and Sea Cargo Distribution Transport Sp.z.o.o., Poland · ABC European Air and Sea Cargo Distribution s.r.o., Czech Republic · ABC European Air and Sea Cargo Distribution bvba, Belgium · ABC European Air and Sea Cargo Distribution Gmbh, Germany · ABC European Air and Sea Cargo Distribution Transport d.o.o., Croatia · ABC European Air and Sea Cargo Distribution Hungaria Kft., Hungary · ABC Bulgaria EOOD, Bulgaria · ABC Ukraine LLC, Ukraine · ABC European Air and Sea Cargo Distribution SRL, Moldova · ABC European Air and Sea Cargo Distribution B.V., Netherlands |
CAPITAL STRUCTURE
(AFTER -
25.05.2013)
Authorised Capital : Rs.415.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.286.952 Millions
(AS ON 25.05.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.100/- each |
Rs.95.000 Millions |
|
2050000 |
Preference Shares |
Rs.100/- each |
Rs.205.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.300.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
909930 |
Equity Shares |
Rs.100/- each |
Rs.90.993
Millions |
|
1959588 |
Preference Shares |
Rs.100/- each |
Rs.195.959
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.286.952 Millions |
(AS ON 31.12.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.100/- each |
Rs.95.000 Millions |
|
2050000 |
Preference Shares |
Rs.100/- each |
Rs.205.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.300.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
909930 |
Equity Shares |
Rs.100/- each |
Rs.90.993
Millions |
|
907374 |
Preference Shares |
Rs.100/- each |
Rs.90.737
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.181.730 Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
181.730 |
181.730 |
|
(b) Reserves & Surplus |
|
(75.633) |
20.666 |
|
(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) |
|
106.097 |
202.396 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.546 |
2.082 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
1.546 |
2.082 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
98.806 |
76.536 |
|
(b) Trade payables |
|
190.184 |
108.579 |
|
(c) Other current
liabilities |
|
15.064 |
11.413 |
|
(d) Short-term provisions |
|
5.022 |
21.163 |
|
Total Current Liabilities (4) |
|
309.076 |
217.691 |
|
|
|
|
|
|
TOTAL |
|
416.719 |
422.169 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
23.686 |
34.544 |
|
(ii) Intangible Assets |
|
0.147 |
0.061 |
|
(iii) Capital
work-in-progress |
|
6.603 |
0.054 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.075 |
0.075 |
|
(c) Deferred tax assets (net) |
|
4.734 |
3.832 |
|
(d) Long-term Loan and Advances |
|
85.063 |
54.281 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
120.308 |
92.847 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
285.676 |
258.395 |
|
(d) Cash and cash
equivalents |
|
6.282 |
15.514 |
|
(e) Short-term loans and
advances |
|
3.499 |
53.548 |
|
(f) Other current assets |
|
0.954 |
1.865 |
|
Total Current Assets |
|
296.411 |
329.322 |
|
|
|
|
|
|
TOTAL |
|
416.719 |
422.169 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
181.730 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
15.071 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
196.801 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
72.265 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
72.265 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
269.066 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
30.940 |
|
|
Capital work-in-progress |
|
|
4.601 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.075 |
|
|
DEFERREX TAX ASSETS |
|
|
2.907 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
287.540 |
|
|
Cash & Bank Balances |
|
|
30.514 |
|
|
Other Current Assets |
|
|
1.053 |
|
|
Loans & Advances |
|
|
122.466 |
|
Total
Current Assets |
|
|
441.573 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
173.398 |
|
|
Other Current Liabilities |
|
|
11.740 |
|
|
Provisions |
|
|
25.892 |
|
Total
Current Liabilities |
|
|
211.030 |
|
|
Net Current Assets |
|
|
230.543 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
269.066 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1343.973 |
1862.314 |
1822.419 |
|
|
|
Other Income |
3.199 |
7.211 |
4.053 |
|
|
|
TOTAL |
1347.172 |
1869.525 |
1826.472 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1444.373 |
1853.237 |
1802.325 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(97.201) |
16.288 |
24.147 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.902) |
8.583 |
9.510 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(96.299) |
7.705 |
14.637 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.666 |
15.070 |
2.549 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
-- |
1.815 |
1.815 |
|
|
|
Tax on Dividend |
-- |
0.294 |
0.301 |
|
|
BALANCE CARRIED
TO THE B/S |
(75.633) |
20.666 |
15.070 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Freight Income |
210.446 |
374.727 |
146.556 |
|
|
TOTAL EARNINGS |
210.446 |
374.727 |
146.556 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(105.83) |
6.15 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(7.15)
|
0.41 |
0.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.23)
|
0.87 |
1.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(23.98)
|
3.89 |
5.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.92)
|
0.08 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.95
|
0.39 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96
|
1.51 |
2.09 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL:
|
Particulars |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
(Rs. In Millions) |
||
|
Current Maturity of Long Term Borrowings |
0.536 |
0.482 |
NA |
|
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 |
No |
|
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 of the company has been shifted from 5B, Express
Tower, 42A, Shakespeare Sarani, Kolkata – 700017, West Bengal, India, to the present
address w.e.f. 13.06.2012.
BUSINESS
PERFORMANCE
The year 2012 was
a difficult year for the organization. The Company experienced high rate of
attrition. However with change in leadership, the company came across
successfully this difficult phase and successfully hired qualified and
professional personnel at all key positions to take the company to next level.
There was sharp drop in turnover of Rs.518 million (of 27%) as we lost major
business in the last quarter of 2011.
However, with the vision
of growth the company moved forward and got associated with multinational
clients like Nestle India Private Limited, Baxter India Private Limited, Cipla
Limited, etc. as the business associates.
As due to loss of
major business of Hero Motors, TNT and substantial amount of provision of Doubt
Debt in 2012 along with major changes at Key level of management there was
substantial increase in cost including FIS Cost resulting an accumulated losses
of Rs.96 million
In the year 2012 we handle 2713 tons in Air Export, 1288 tons in Air
Imports, 3018 Teus in Sea Import and 7942 Teus in Sea Export.
FUTURE PROSPECTS
Cargo Partner,
India over the last three years was largely dependent on the Air Export product
and heavily dependent on mainly three customers on a PAN INDIA basis
contributing to this line of business. From Q3 of 2011 up to end of 2011 these
accounts were lost or margins heavily eroded. Therefore, there was a huge
erosion in Gross Profit in the year 2012, which was needed to be made up from
other lines of business.
Corrective
measures have been put in place to induct adequate sales personnel at all
locations.
In 2013, they have
expended their line of business in customer clearance and are operative on
their own license and also they have signed up contract with Hindustan Coca
Cola Beverages Private Limited, Lanco Solar Energy Private Limited and also got
custom clearance from our existing customers.
Despite these challenges the anticipated growth in Gross Profit in 2013
is expected to be 14% over previous year.
CONTINGENT LIABILITIES
a. Claims against
the company not acknowledged as debts Rs.29.263 millions (Previous Year Rs.
NIL)
b. Guarantee
issued by a bank to a Government agency on behalf of the Company (against lien
on Company’s Fixed Deposit of Rs.0.115 Million (Previous Year Rs.0.155 Million)
is Rs.0.115 Million (Previous Year Rs.0.155 Million)
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Building
· Furniture and Fixtures
· Vehicles
· Office Equipment
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.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
28 |
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.