MIRA
INFORM REPORT
|
Report Date : |
01.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
FLYJAC LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ashok Vatika, Vaibhav Apartments, First Floor, Sahar
Pipe Line Road, Sahar, Andheri
(East), Mumbai - 400099, Maharashtra |
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
27.03.2008 |
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Com. Reg. No.: |
11-180548 |
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Capital Investment
/ Paid-up Capital : |
Rs.600.000 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U63000MH2008PTC180548 |
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PAN No.: [Permanent Account No.] |
AABCF2133M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing Freight Forwarding and Logistics
Services. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4800000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of the internationally renown Hitachi
Transport System Limited in Japan. It is an established company having fine track record. Financial position of the company appears to be sound. Performance
capability of the company is good. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before. A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart
has acquired fashion portal Myntra as it prepares to
battle with the rapidly expanding India arm of the global e-commerce giant
Amazon. The company raised $ 210 million from Russian Investment firm DST Global
which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune
in the second half of 2014. GM was one of the few global carmakers that was
using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year
to $ 158.84 billion. The top 10 of the 100 slots were dominated by US
companies.
Infosys lost another heavy weight when B G Srinivas,
a board member put in his papers. He is the third CEO-hopeful to quit after
Chairman N R Narayana Murthy’s return to the company
– Ashok Vemuri and V Balakrishnan being the other two. While Vemuri
went on to lead IGate, Balakrishnan
joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs 2153.37 crore
– in the three months ended March 31, mainly because it has been offering
discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala
Police had arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Facility = A+ |
|
Rating Explanation |
Having adequate degree of safety and carry low credit risk |
|
Date |
September, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Facility = A1+ |
|
Rating Explanation |
Having very strong degree of safety carry lowest credit risk |
|
Date |
September, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Sabu Joseph |
|
Designation : |
Account manager |
|
Contact No.: |
91-22-30904800 |
|
Date : |
28.06.2014 |
LOCATIONS
|
Registered Office /
Ocean Export Office: |
Ashok Vatika, Vaibhav Apartments, First Floor, Sahar
Pipe Line Road, Sahar, Andheri
(East), Mumbai 400099, Maharashtra, India |
|
Tel. No.: |
91-22-28329758 / 30909900/ 30964800 |
|
Fax No.: |
91-22-28366609 / 28362563 |
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E-Mail : |
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|
Website : |
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|
Area : |
3500 sq. ft |
|
Location : |
Owned |
|
|
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Corporate Office : |
B1-205, 2nd Floor, Boomrang, Chandivali Farm Road, Near Powai,
Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-33595900 |
|
|
|
|
Air/Ocean Import,
Air Export and Clearance : |
102, Awas Apartments, Sahar Pipe
line Road, Sahar, Andheri
(East), Mumbai-400099, |
|
Tel. No.: |
91-22-28315494/97/28306244/45/47 |
|
Fax No.: |
91-22-28315512 |
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E-Mail : |
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Branch Office : |
No. 25-32, Readymade Garment Complex, SIDCO Industrial Estate – Guindy Chennai, Tamilnadu, India Located At : · Delhi · Kolkata · Bangalore · Baroda · Tirupur · Ahmedabad · Tuticorin · Pune · Cochin · Hydrebad · Goa · Aurangabad · Coimbatore · Jaipur · Kandla/Mundra · Indore · Mangalore · Nagpur · Ludhiana · Kolhapur ·
Nashik |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sethu Madhavan Athrasseri |
|
Designation : |
Managing director |
|
Address : |
503/504, Powai Vihar, B wing Building No. 4, 5th Floor, Powai, Mumbai – 400 076, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1950 |
|
Qualification : |
Diploma (Mechanical eng.) and MBA |
|
Date of Appointment : |
27.03.2008 |
|
Pan No.: |
AABPA5203E |
|
DIN No.: |
01085858 |
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|
|
|
Name : |
Mr. Ravikumar Athrassery Varriath |
|
Designation : |
Chief Executive Officer and Jt. Managing Director |
|
Address : |
No. 556, 14th Street, 4th Sector, K K Nagar, Chennai – 600 078, Tamilnadu, India |
|
Date of Birth/Age : |
31.05.1960 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
27.03.2008 |
|
Pan No.: |
ABHPR6412M |
|
DIN No.: |
01119274 |
|
|
|
|
Name : |
Mr. Tetsuro Katsuhiro Shiomi |
|
Designation : |
Director and Chief Financial Officer |
|
Address : |
2-32-17, Nishinippori, Arakshan-Ku Tokyo, Japan |
|
Date of Birth/Age : |
06.03.1962 |
|
Date of Appointment : |
06.06.2010 |
|
Pan No.: |
CTVPS6735G |
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DIN No.: |
03033971 |
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|
|
Name : |
Mr. Shunichi Oinuma |
|
Designation : |
Director |
|
Address : |
1, Oxley Rase, #07-09, (One Oxley Rise) Singapore 238714 |
|
Date of Birth/Age : |
16.04.1955 |
|
Date of Appointment : |
01.06.2012 |
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DIN No.: |
05253095 |
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|
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|
Name : |
Mr. Takashi Jinguji |
|
Designation : |
Director |
|
Address : |
311, 3-1-16, Edakita, Aoba – Ku,Yokohama – City, Kanagawa Pref, 2250015, Japan |
|
Date of Birth/Age : |
13.10.1955 |
|
Date of Appointment : |
30.03.2013 |
|
DIN No.: |
02247269 |
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|
|
|
Name : |
Mr. Tetsuya Machida |
|
Designation : |
Director |
|
Address : |
Flat No.16, 2nd Floor, Block No.2, Swathi Apartment, 39/8, Mt. Poonamalle Road, Nandambakkam, Chennai – 600089, Tamilnadu, India |
|
Date of Birth/Age : |
28.04.1957 |
|
Date of Appointment : |
08.07.2013 |
|
DIN No.: |
01803125 |
KEY EXECUTIVES
|
Name : |
Mr. Durga Thota |
|
Designation : |
Company Secretary |
|
Address : |
C4, Ganapathy Flats, 94/30,2nd Main Road, AGS Colony, Velachery, Chennai – 600042, Tamilnadu, India |
|
Date of Birth/Age : |
18.04.1966 |
|
Date of Appointment : |
16.04.2012 |
|
PAN No.: |
AGLPJ4398M |
|
|
|
|
Name : |
Mr. Sabu Joseph |
|
Designation : |
Account manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hitachi Transport System Limited, Japan |
|
59400000 |
|
Hitachi Transport System (Asia) Pte.
Limited, Singapore |
|
600000 |
|
Total |
|
60000000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing Freight Forwarding and Logistics
Services. |
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Products / Services: |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management |
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Bankers : |
·
Indusind Bank, CTS No.
32, Acme Plaza, Andheri Kurla
Road, Mumbai 400059, Maharashtra, India ·
HDFC Bank Limited ·
Indian Overseas Bank ·
State Bank of India ·
Bank of India ·
Vijaya Bank ·
Axis Bank Limited ·
ICICI Bank Limited |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
(Rs. In Millions)
|
|
|
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Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Bharat C Mehta and Company Chartered Accountants |
|
Address : |
B/201, Aum Daarshan,
Shankar Lane, Kandivali
(West), Mumbai - 400067, Maharashtra, India |
|
PAN No.: |
ABNPM9654L |
|
|
|
|
Associate5 : |
· JWC Logistics Park Private Limited · Hitachi Transport System · Dahang International Transport Company Limited · Hitachi Hi-Rel Power Electronics Private Limited · Hitachi Home and Life Solutions (India ) Limited · Hitachi Chemical India Private Limited · Hitachi India Private Limited · Hitachi Medical Corporation · Hitachi Lift India Private Limited · Hitachi Metals (India) Private Limited · Hitachi Metglas (India) Private Limited · Hitachi Nest Control Systems Private Limited ·
Hitachi Transport System India Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
600.000 |
262.000 |
262.000 |
|
(b) Reserves & Surplus |
610.899 |
480.901 |
400.119 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1210.899 |
742.901 |
662.119 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.035 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
19.171 |
13.404 |
10.105 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
228.300 |
178.300 |
178.300 |
|
Total Non-current Liabilities (3) |
247.471 |
191.739 |
188.405 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
13.982 |
162.821 |
161.210 |
|
(b) Trade payables |
394.010 |
485.362 |
445.288 |
|
(c) Other current
liabilities |
103.552 |
31.074 |
38.421 |
|
(d) Short-term provisions |
65.270 |
50.000 |
0.000 |
|
Total Current Liabilities (4) |
576.814 |
729.257 |
644.919 |
|
|
|
|
|
|
TOTAL |
2035.184 |
1663.897 |
1495.443 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
203.033 |
187.240 |
157.133 |
|
(ii) Intangible Assets |
66.355 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
9.024 |
4.882 |
6.593 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
410.738 |
315.373 |
293.312 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
689.150 |
507.495 |
457.038 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
71.376 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
1077.723 |
986.777 |
894.247 |
|
(d) Cash and cash
equivalents |
112.612 |
51.906 |
30.840 |
|
(e) Short-term loans and
advances |
155.699 |
117.335 |
41.175 |
|
(f) Other current assets |
0.000 |
0.384 |
0.767 |
|
Total Current Assets |
1346.034 |
1156.402 |
1038.405 |
|
|
|
|
|
|
TOTAL |
2035.184 |
1663.897 |
1495.443 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Total Income from Operation including Reimbursement, Duties etc. |
4353.886 |
4159.791 |
3911.358 |
|
|
|
Other Income |
19.685 |
21.649 |
13.838 |
|
|
|
TOTAL |
4373.571 |
4181.440 |
3925.196 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
4132.050 |
4011.486 |
3781.205 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
4132.050 |
4011.486 |
3781.205 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
241.521 |
169.954 |
143.991 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
11.372 |
18.971 |
7.155 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
230.149 |
150.983 |
136.836 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
29.014 |
16.902 |
11.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
201.135 |
189.441 |
125.604 |
|
|
|
|
|
|
|
|
|
|
TAX |
71.137 |
108.660 |
42.814 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
129.998 |
80.781 |
82.790 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
295.681 |
339.470 |
355.289 |
|
|
TOTAL EARNINGS |
295.681 |
339.470 |
355.289 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
2.26 |
3.08 |
3.16 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.97 |
1.93 |
2.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.62 |
4.55 |
3.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.93 |
11.42 |
8.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.26 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
13.98 |
162.82 |
161.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.33 |
1.59 |
1.61 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
262.000 |
262.000 |
600.000 |
|
Reserves & Surplus |
400.119 |
480.901 |
610.899 |
|
Net
worth |
662.119 |
742.901 |
1,210.899 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.035 |
0.000 |
|
Short term borrowings |
161.210 |
162.821 |
13.982 |
|
Total
borrowings |
161.210 |
162.856 |
13.982 |
|
Debt/Equity
ratio |
0.243 |
0.219 |
0.012 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3911.358 |
4159.791 |
4353.886 |
|
|
|
6.352 |
4.666 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3,911.358 |
4,159.791 |
4,353.886 |
|
Profit |
82.790 |
80.781 |
129.998 |
|
|
2.12% |
1.94% |
2.99% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
RESULTS OF OPERATION;
Following are the figures comparing the same items in respect of the previous year ended March 2013:-
The Gross Total Income for the year ended 31st March 2013 increased to Rs. 4373.571 Millions comparing to Rs. 4181.440 Millions for previous Year. It shows an increase of business by 4.59%.
The Profits before Interest, Depreciation, Tax and social responsibility cost stood at 241.521 Millions as compared to previous Fin Yr. amount Rs.169.954 Millions resulting an increase by 42.14%. The company has contributed Rs. 13.386 Millions towards donations to mitigate its social responsibilities as compared to previous Financial year amount Rs. 8.916 Millions.
Depreciation is charged to Profit & Loss Account as per rates specified under the Companies Act thereby Depreciation charges incurred to Rs.29.014 Millions as compared to Rs. 16.902 Millions in the previous year.
The company has provided Rs. 5.767 Millions for the deferred tax provision.
The Provision for income tax is at Rs. 67.200 Millions. (Previous year Rs. 503.000 Millions)
The Net Profit available for Appropriation is Rs. 129.998 Millions (Previous year Rs. 80.781 Millions) and no amount has been transferred to General Reserve (Previous year NIL).
UNSECURED LOAN
Rs. In
Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Loans taken for fixed assets |
0.000 |
0.035 |
|
Total |
0.000 |
0.035 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10112074 |
23/12/2011 * |
128,200,000.00 |
INDUSIND BANK LIMITED |
CTS NO.32, ACME PLAZA, KURLA ROAD, ANDHERI, MUMBAI, MAHARASHTRA - 400059, INDIA |
B44041879 |
|
2 |
10111586 |
21/04/2010 * |
110,000,000.00 |
INDUSIND BANK LIMITED |
CTS NO.32, ACME PLAZA, KURLA ROAD, ANDHERI, MUMBAI, MAHARASHTRA - 400059, INDIA |
A86143864 |
* Date of charge modification
FIXED ASSETS
- Computer and Accessories and System Development
- Furniture and Fittings
- Software Development
- Racking System
- Wooden Pallet
- Industrial Locker
- Indital Reach Stackers Cranes
- Generator Set
- Electrical Fitting
- Weighting Machine
- Fax Machine
- Building
- Air Conditioner
- Typewriter
- Photocopier Machine
- EPABX
- UPS
- Cold Storage CTP Logi Fixed Asset Technova
- Telex Machine
- Pager Equipments
- Mobile Instrument
- Water Cooler
- Referigeator
- Hand Pallet Truck
- Office Equipments
- Motor Car
- Land
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.60.10 |
|
|
1 |
Rs.102.32 |
|
Euro |
1 |
Rs.82.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.