|
Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
VRL LOGISTICS LIMITED (w.e.f. 25.08.2006) |
|
|
|
|
Formerly Known
As : |
VIJAYANAND ROADLINES LIMITED |
|
|
|
|
Registered
Office : |
RS No. 351/1, Varur Post Chabbi Taluka Hubli, District Dharwad, Hubli
– 581207, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.03.1983 |
|
|
|
|
Com. Reg. No.: |
08-005247 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 707.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60210KA1983PLC005247 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV3609C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Logistic Services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having moderate track record. External borrowing of the company seems to be increasing over a year. Further
there appears slight dip in profit of the company during 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. Note: Latest financial for the year 2013 is not available with us. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million
in September, 2012, according to Deloitte report. The number of transactions
has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits – Cash Credit: “BB+” |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
October 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
RS No. 351/1, Varur Post Chabbi Taluka Hubli, District Dharwad, Hubli –
581207, Karnataka, India |
|
Tel. No.: |
91-836-2237610 / 2237613 |
|
Fax No.: |
91-836-2237614 / 2256612 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
|
|
Tel. No.: |
91-836-2237511 / 2237512 |
|
Fax No.: |
91-836-2256612 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at:
|
DIRECTORS
As on: 07.08.2013
|
Name : |
Mr. Vijay Basavanneppa Sankeshwar |
|
Designation : |
Managing Director |
|
Address : |
120-125 Lalith Mahal, |
|
Date of Birth/Age : |
02.08.1950 |
|
Date of Appointment : |
01.01.2012 |
|
Voter ID No.: |
KT/24/177/081141 |
|
DIN No.: |
00217714 |
|
|
|
|
Name : |
Mr. Anand Vijay Sankeshwar |
|
Designation : |
Managing Director |
|
Address : |
120-125 Lalith Mahal, |
|
Date of Birth/Age : |
14.11.1974 |
|
Date of Appointment : |
01.04.2009 |
|
Voter ID No.: |
NNA0467944 |
|
DIN No.: |
00217773 |
|
|
|
|
Name : |
Mr. Sudhir Prabhakar Ghate |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
12.11.1957 |
|
Date of Appointment : |
15.06.2005 |
|
Voter ID No.: |
KT/17/142/138237 |
|
DIN No.: |
0035949 |
|
|
|
|
Name : |
Mr. Chantam Karunakar Shetty |
|
Designation : |
Director |
|
Address : |
#9 Upstairs KHB Colony, Basaveshwar Nagar, |
|
Date of Birth/Age : |
29.05.1953 |
|
Date of Appointment : |
15.06.2005 |
|
Voter ID No.: |
MCL7106040 |
|
DIN No.: |
01560349 |
|
|
|
|
Name : |
Mr. Jayateerth Satyaveeracharya Korlahalli |
|
Designation : |
Director |
|
Address : |
Srinivas 16 Cross Vidyanagar, Gadag – 5802101, Karnataka, India |
|
Date of Birth/Age : |
10.07.1940 |
|
Date of Appointment : |
06.07.2010 |
|
DIN No.: |
00528428 |
|
|
|
|
Name : |
Mr. Prabhakar Bassaprabhu Kore |
|
Designation : |
Director |
|
Address : |
BC 92 Camp, church Road, |
|
Date of Birth/Age : |
01.08.1947 |
|
Date of Appointment : |
06.07.2010 |
|
DIN No.: |
00509836 |
|
|
|
|
Name : |
Mr. Darius Dinshaw Pandole |
|
Designation : |
Nominee Director |
|
Address : |
5B, Sunshine Apartments, 15 B, |
|
Date of Birth/Age : |
27.04.1966 |
|
Date of Appointment : |
03.08.2012 |
|
DIN No.: |
00727320 |
KEY EXECUTIVES
|
Name : |
Mr. Aniruddha Anil Phadnavis |
|
Designation : |
Company Secretary |
|
Address : |
54 Prasanna Colony, |
|
Date of Birth/Age : |
25.05.1980 |
|
Date of Appointment : |
01.01.2010 |
|
PAN No. : |
AJMPP0610L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 07.08.2013
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Vijay Basavanneppa Sankeshwar |
|
33075000 |
|
Lalitha Vijay Sankeshwar |
|
21000 |
|
Anand Vijay Sankeshwar |
|
32778250 |
|
Yallappa Mallappa Honnalli |
|
1750 |
|
Vani Anand Sankeshwar |
|
400000 |
|
Bharati Prashant Holkunde |
|
1750 |
|
Umesh Nanjundappa K |
|
1750 |
|
Ramanand Laxminarayan Bhat |
|
1750 |
|
NSR PE Mauritius LLC, Mauritius |
|
4418750 |
|
|
|
|
|
Total
|
|
70700000 |
|
Names of Preference share |
|
No. of
Preference Shares |
|
NSR PE Mauritius LLC, Mauritius |
|
11046875 |
|
|
|
|
|
Total |
|
11046875 |
As on: 01.09.2013
|
Names of Allottees |
|
No. of Allottees |
|
NSR PE Mauritius LLC, Mauritius |
|
14836162 |
|
|
|
|
|
Total |
|
14836162 |
Equity Share Break up (Percentage of Total Equity)
As on: 07.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
6.25 |
|
Directors or relatives of directors |
|
93.74 |
|
Other top fifty shareholders |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Logistic Services |
||||||||||
|
|
|
||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India · Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India · The Shamrao Vithal Co-Operative Bank Limited, Satelite Space, Koppikar Road, Hubli - 580020, Karnataka, India · Canara Bank, Traffic Island , Hubli - 578029, Karnataka, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
L and T Finance Limited, L and T House, Ballard Estate, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors 1: |
|
|
Name : |
H.K. Veerbhaddrappa and Company
Chartered Accountants |
|
Address : |
4th Floor, Sumangala Complex, Lamington Road, Hubli - 580020,
Karnataka, India |
|
PAN.: |
AABFS8243H |
|
|
|
|
Auditors 2: |
|
|
Name : |
Walker, Chandiok and Company Chartered Accountants |
|
Address : |
16th Floor, Tower II, India Bulls Finanace Centre, S.B. Marg, Elphinstone (West), Mumbai - 400 013, Maharashtra, India |
|
PAN.: |
AAAFW4298E |
|
|
|
|
Companies in which KMP or their relatives has significant influence : |
|
CAPITAL STRUCTURE
As on: 07.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000
Millions |
|
11200000 |
Preference Shares |
Rs.100/-
each |
Rs.1120.000
Millions |
|
|
Total |
|
Rs.2370.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70700000 |
Equity Shares |
Rs.10/- each |
Rs.707.000
Millions |
|
11046875 |
Preference Shares |
Rs.100/-
each |
Rs.1104.688 Millions |
|
|
Total |
|
Rs.1811.688 Millions |
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70700000 |
Equity Shares |
Rs.10/- each |
Rs.707.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
707.000 |
707.000 |
|
(b) Reserves & Surplus |
|
820.334 |
639.307 |
|
(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) |
|
1527.334 |
1346.307 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
4035.115 |
2527.323 |
|
(b) Deferred tax liabilities (Net) |
|
999.842 |
923.005 |
|
(c) Other long
term liabilities |
|
85.762 |
78.053 |
|
(d) long-term
provisions |
|
15.873 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
5136.592 |
3528.381 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
729.032 |
885.721 |
|
(b)
Trade payables |
|
354.539 |
248.598 |
|
(c) Other
current liabilities |
|
1456.546 |
1251.483 |
|
(d) Short-term
provisions |
|
81.800 |
30.152 |
|
Total Current
Liabilities (4) |
|
2621.917 |
2415.954 |
|
|
|
|
|
|
TOTAL |
|
9285.843 |
7290.642 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
6941.964 |
4988.124 |
|
(ii)
Intangible Assets |
|
3.754 |
11.685 |
|
(iii)
Capital work-in-progress |
|
100.205 |
402.542 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
1.275 |
1.250 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
876.971 |
726.639 |
|
(e) Other
Non-current assets |
|
12.267 |
3.118 |
|
Total Non-Current
Assets |
|
7936.436 |
6133.358 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
87.311 |
60.746 |
|
(c)
Trade receivables |
|
780.250 |
687.378 |
|
(d) Cash
and cash equivalents |
|
136.003 |
153.676 |
|
(e)
Short-term loans and advances |
|
163.645 |
116.503 |
|
(f)
Other current assets |
|
182.198 |
138.981 |
|
Total
Current Assets |
|
1349.407 |
1157.284 |
|
|
|
|
|
|
TOTAL |
|
9285.843 |
7290.642 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
707.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
376.866 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1083.866 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3673.222 |
|
|
2] Unsecured Loans |
|
|
110.987 |
|
|
TOTAL BORROWING |
|
|
3784.209 |
|
|
DEFERRED TAX LIABILITIES |
|
|
758.535 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5626.610 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4709.416 |
|
|
Capital work-in-progress |
|
|
123.715 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.250 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
70.071 |
|
|
Sundry Debtors |
|
|
491.405 |
|
|
Cash & Bank Balances |
|
|
186.469 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
550.094 |
|
Total
Current Assets |
|
|
1298.039 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
62.864 |
|
|
Other Current Liabilities |
|
|
318.654 |
|
|
Provisions |
|
|
124.292 |
|
Total
Current Liabilities |
|
|
505.810 |
|
|
Net Current Assets |
|
|
792.229 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5626.610 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11211.234 |
8819.638 |
7059.893 |
|
|
|
Other Income |
141.549 |
109.516 |
86.854 |
|
|
|
TOTAL (A) |
11352.783 |
8929.154 |
7146.747 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
665.430 |
522.813 |
4675.902 |
|
|
|
Employee benefit expense |
1289.187 |
1044.823 |
898.243 |
|
|
|
Other expenses |
7418.933 |
5653.330 |
147.520 |
|
|
|
Prior period items |
0.000 |
6.912 |
1.268 |
|
|
|
TOTAL (B) |
9373.550 |
7227.878 |
5722.933 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1979.233 |
1701.276 |
1423.814 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
662.598 |
487.464 |
516.131 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1316.635 |
1213.812 |
907.683 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
695.986 |
509.332 |
464.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
620.649 |
704.480 |
443.462 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
210.061 |
194.712 |
152.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
410.588 |
509.768 |
290.987 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
376.710 |
165.246 |
159.781 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
270.620 |
247.327 |
256.423 |
|
|
|
BALANCE CARRIED
TO THE B/S |
516.678 |
376.710 |
165.246 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
101.449 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.81 |
7.21 |
0.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.61 |
5.71 |
4.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.53 |
7.99 |
6.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.76 |
10.22 |
7.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.52 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.11 |
2.53 |
3.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.51 |
0.48 |
2.57 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
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 31.03.2012 |
As on 31.03.2011 |
|
Long term
borrowings |
|
|
|
Deposits |
85.140 |
116.119 |
|
|
|
|
|
Short term borrowings
|
|
|
|
Loans and advances from related parties |
4.500 |
250.500 |
|
Other loans and advances |
1.000 |
1.000 |
|
|
|
|
|
Total |
90.640 |
367.619 |
REVIEW OF OPERATIONS
The Company has achieved a very healthy growth rate in terms of revenues. The Company has achieved a turnover of Rs. 11352.783 millions depicting an increase of over 27% and earned a net profit of Rs.410.588 millions during the financial year 2011-12.
The profitability margins were however under pressure owing to significant increase in operating and employee costs as also increase finance costs owing to significant capital expenditure incurred during the year. The aggressive fleet increase in the passenger travel division also resulted in pressure on the margins as deployment of new vehicles and the stabilization of new routes involves an element of gestation till profitable operations can be sustained.
The Goods Transportation division clocked revenues of Rs.8585.063 millions as against a corresponding revenue of Rs.7154.107 millions for the previous year at a growth rate of 20%. The margins in this division were fairly stable. The Courier and Air Chartering divisions of the Company recorded revenues of Rs.44.980 millions and Rs.47.733 millions respectively.
The Passenger travel segment contributed Rs.2187.119 millions as revenues during the year as against corresponding revenues of Rs.1344.168 millions for the previous year at a growth rate of over 62%. The same was enabled by a significant addition to the vehicle fleet. However, the operating costs for this division were significantly higher and these could not be entirely passed on the customers owing to the initial focus on setting up new routes and optimal deployment of buses, which would be critical for stabilization of operations at such increased level. Barring the addition of a few buses, the envisaged capital expenditure for this division is nearly complete and these are expected to boost the revenues and profits in the upcoming months.
Considerable capital expenditure has been incurred during the year which has enabled the growth in revenues and the Company expects to further post a healthy growth year on year on the strength of such fleet increase and infrastructure growth.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10466328 |
13/12/2013 |
44,864,794.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B92019694 |
|
2 |
10466329 |
07/12/2013 |
52,884,052.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B92019926 |
|
3 |
10462966 |
26/11/2013 |
150,000,000.00 |
NKGSB CO-OP BANK LTD |
REVANKAR COMPLEX, DESHPANDE NAGAR, HUBLI, KARNATAKA - 580029, INDIA |
B90657040 |
|
4 |
10458588 |
28/10/2013 |
150,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B88916044 |
|
5 |
10430955 |
03/06/2013 |
48,515,250.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B77037042 |
|
6 |
10431283 |
22/05/2013 |
200,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B77154979 |
|
7 |
10410103 |
09/03/2013 |
51,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B70193776 |
|
8 |
10412771 |
28/02/2013 |
6,231,104.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B71111348 |
|
9 |
10412795 |
28/02/2013 |
6,231,104.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B71113898 |
|
10 |
10412845 |
28/02/2013 |
6,231,104.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B71120034 |
|
11 |
10413123 |
28/02/2013 |
7,225,390.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B71231385 |
|
12 |
10413131 |
28/02/2013 |
7,225,390.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B71234827 |
|
13 |
10399556 |
30/12/2012 |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B66647124 |
|
14 |
10397104 |
21/12/2012 |
4,400,004.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B65929424 |
|
15 |
10397107 |
21/12/2012 |
4,400,004.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B65929846 |
|
16 |
10397114 |
21/12/2012 |
4,400,004.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B65931081 |
|
17 |
10397116 |
21/12/2012 |
4,400,004.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B65931305 |
|
18 |
10397099 |
19/12/2012 |
7,982,208.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B65928301 |
|
19 |
10397102 |
19/12/2012 |
7,982,208.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B65928921 |
|
20 |
10397122 |
19/12/2012 |
7,982,208.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B65933251 |
* Date of charge modification
Fixed Assets
·
·
Building
·
Plant and Machinery
·
Furniture, Fixtures and
Office Equipment
·
Vehicles
·
Aircraft
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. 62.38 |
|
|
1 |
Rs. 102.25 |
|
Euro |
1 |
Rs. 84.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.