MIRA INFORM REPORT
|
Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
RHENUS CONTRACT LOGISTICS
INDIA LIMITED (w.e.f. 12.02.2014) |
|
|
|
|
Formerly Known
As : |
RHENUS
PROLOG LOGISTICS LIMITED (w.e.f. 11.10.2010) PRO-LOGISTICS
(INDIA) LIMITED (w.e.f. 28.02.2006) WESTERN ARYA LOGISTICS
LIMITED WESTERN ARYA TRANSPORTS
LIMITED (w.e.f. 25.08.1995) WESTERN
ARYA TRANSPORTS PRIVATE LIMITED (w.e.f. 14.07.1995) WESTERN
ARYA TRANSPORT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
401, Devkrupa, 28,
Raichur Street, Masjid (East), Mumbai – 400 009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.12.1992 |
|
|
|
|
Com. Reg. No.: |
11-069960 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.38.968
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60300MH1992PLC069960 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMW01466D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW1321R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in providing domestic transport and logistic
services. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 838000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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|
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|
Comments : |
Subject is a
subsidiary of “Western Arya Transports Private Limited (Part-ix)”. It is an
established company having satisfactory track. The company
possesses a favourable financial profile marked by adequate networth base,
comfortable debt protection metrics along with moderate working capital
intensive operations, which are further mitigated by the infusion of funds
from the promoters. Management has
seen a decent turnover, whereas has reported a low profit margin during FY
13, owing to low value adding nature of the business. However, trade
relations are fair. Business is active. Payment terms are reported as usually
correct. In view of
parental support, the subject can be considered 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Ms. Rupali |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-40951111 |
|
Date : |
12.06.2014 |
LOCATIONS
|
Registered Office : |
401, Devkrupa, 28, Raichur
Street, Masjid (East), Mumbai – 400 009, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Corporate Office : |
C-8, Laxmi Towers, Bandra Kurla Complex, Bandra
(East), Mumbai – 400 051, Maharashtra, India |
|
Tel. No.: |
91-22-40951111 |
|
Fax No.: |
91-22-40951212 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Parikshith Chandramohan Arya |
|
Designation : |
Director |
|
Address : |
Room No.401, 4th
Floor, Devkrupa, 28, Raichur Street, Masjid (East), Mumbai – 400 009, Maharashtra,
India |
|
Date of Birth/Age : |
19.09.1972 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
14.12.1992 |
|
DIN No.: |
00124471 |
|
PAN No.: |
AABPA0137D |
|
|
|
|
Name : |
Mr. Vivek Chandramohan Arya |
|
Designation : |
Director |
|
Address : |
Room No.401, 4th
Floor, Devkrupa, 28, Raichur Street, Masjid (East), Mumbai – 400 009,
Maharashtra, India |
|
Date of Birth/Age : |
20.09.1971 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
14.12.1992 |
|
DIN No.: |
00618893 |
|
PAN No.: |
AABPA0136C |
|
|
|
|
Name : |
Mr. Chimanlal Momanchand Mittal |
|
Designation : |
Director |
|
Address : |
A 101, Utsav Apartment
Building No.5, Near Madhuban Township, Gokhiware, Vasai (East),Thane – 401
208, Maharashtra, India |
|
Date of Birth/Age : |
06.08.1968 |
|
Qualification : |
HSC |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
03576518 |
|
PAN No.: |
AGGPM0754R |
|
|
|
|
Name : |
Mr. Uwe Detlef Oemmelen |
|
Designation : |
Director |
|
Address : |
927,
BT, Timah Road # 10-15 Singapore - 589641 |
|
Date of Birth/Age : |
15.12.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
05332486 |
|
E-Mail : |
|
|
|
|
|
Name : |
Mr. Pawan Satyanarayan Gupta |
|
Designation : |
Director |
|
Address : |
602, Omkar Prasad Society, Gorai II, Borivali, Mumbai – 400 092,
Maharashtra, India |
|
Date of Birth/Age : |
13.12.1964 |
|
Date of Appointment : |
17.01.2014 |
|
DIN No.: |
03552565 |
|
E-Mail : |
KEY EXECUTIVES
|
Name : |
Ms. Rupali |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Western Arya Transports
Private Limited, India |
|
216304 |
|
Sulochana C. Arya
(Nominee of Western Arya Transports Private Limited) |
|
5445 |
|
Vivek C. Arya (Nominee of
Western Arya Transports Private Limited) |
|
16327 |
|
Priti. Arya (Nominee of
Western Arya Transports Private Limited) |
|
5000 |
|
Parikshith Arya (Nominee
of Western Arya Transports Private Limited) |
|
11410 |
|
Prerana Arya (Nominee of
Western Arya Transports Private Limited) |
|
2000 |
|
Rhenus Logistics Holding
Asia Pte Limited, Kowloon |
|
133190 |
|
Total
|
|
389676 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
34.18 |
|
Bodies
corporate |
|
65.82 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing domestic transport and logistic
services. |
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Products/ Services : |
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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
|
Customers : |
End Users |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Financial Institution : |
First Leasing Co of India
Limited, 749, Anna Salai, Chennai – 600 002, Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
Banshi
Jain and Associates Chartered
Accountants |
|
Address : |
404/405, Imperial Plaza,
Opposite Amarsons, Off Linking Road, Bandra (West), Mumbai – 400 050,
Maharashtra, India |
|
PAN No.: |
AABFB0619B |
|
|
|
|
Holding Company : |
Western Arya Transports Private
Limited (Part-ix), India (CIN No.: U63090MH2006PTC160859) |
|
|
|
|
Subsidiary Company : |
Stream Line Logistics
Private Limited, India (CIN No.: U63090TN2005PTC058286) |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
450000 |
Equity Shares |
Rs.100/- each |
Rs.45.000 millions |
|
50000 |
Preference Shares |
Rs.100/- each |
Rs.5.000 millions |
|
|
Total |
|
Rs.50.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
389676 |
Equity Shares |
Rs.100/-
each |
Rs.38.968
millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
450000 |
Equity Shares |
Rs.100/- each |
Rs.45.000 millions |
|
50000 |
Compulsory
Convertible Preference Shares |
Rs.100/- each |
Rs.5.000 millions |
|
|
Total |
|
Rs.50.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350176 |
Equity Shares |
Rs.100/-
each |
Rs.35.018
millions |
|
39500 |
Compulsory
Convertible Preference Shares |
Rs.100/- each |
Rs.3.950
millions |
|
|
Total |
|
Rs.38.968 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 |
38.968 |
35.018 |
35.018 |
|
(b) Reserves & Surplus |
170.580 |
117.102 |
113.590 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
50.900 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
209.548 |
203.020 |
148.608 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
5.789 |
16.035 |
24.894 |
|
(b) Deferred tax liabilities (Net) |
2.351 |
5.882 |
3.260 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
8.140 |
21.917 |
28.154 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
59.529 |
15.913 |
31.300 |
|
(b)
Trade payables |
90.519 |
111.688 |
100.940 |
|
(c)
Other current liabilities |
33.769 |
37.434 |
49.177 |
|
(d)
Short-term provisions |
44.890 |
33.929 |
21.305 |
|
Total
Current Liabilities (4) |
228.707 |
198.964 |
202.722 |
|
|
|
|
|
|
TOTAL |
446.395 |
423.901 |
379.484 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
127.641 |
135.869 |
137.964 |
|
(ii)
Intangible Assets |
1.075 |
0.688 |
0.651 |
|
(iii)
Capital work-in-progress |
0.052 |
0.052 |
0.052 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.146 |
0.146 |
0.046 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
92.647 |
76.660 |
81.778 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
221.561 |
213.415 |
220.491 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
186.529 |
179.561 |
148.261 |
|
(d)
Cash and cash equivalents |
16.619 |
21.933 |
4.455 |
|
(e)
Short-term loans and advances |
21.686 |
8.992 |
6.277 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
224.834 |
210.486 |
158.993 |
|
|
|
|
|
|
TOTAL |
446.395 |
423.901 |
379.484 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue
from operations |
1144.595 |
1180.349 |
639.511 |
|
|
|
Other Income |
2.981 |
1.272 |
3.602 |
|
|
|
TOTAL (A) |
1147.576 |
1181.621 |
643.113 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of materials consumed |
948.582 |
992.720 |
512.110 |
|
|
|
Employee
benefit expense |
107.422 |
97.152 |
67.516 |
|
|
|
Other
expenses |
69.672 |
63.307 |
42.909 |
|
|
|
TOTAL (B) |
1125.676 |
1153.179 |
622.535 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.900 |
28.442 |
20.578 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.979 |
11.097 |
17.369 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.921 |
17.345 |
3.209 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.417 |
9.334 |
8.789 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1.504 |
8.011 |
(5.580) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(5.024) |
4.499 |
2.741 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
6.528 |
3.512 |
(8.321) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
5.635 |
2.123 |
10.444 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
5.635 |
2.123 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Other Income: |
|
|
|
|
|
|
-
Freight & other charges |
161.353 |
163.311 |
263.872 |
|
|
|
- Reimbursement of
Salary & Administrative Expenses |
0.000 |
0.196 |
0.085 |
|
|
|
- Foreign Travelling |
0.050 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
161.403 |
163.507 |
263.957 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
18.64 |
10.03 |
(26.68) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.57 |
0.30 |
(1.29) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.13 |
0.68 |
(0.87) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.34 |
1.89 |
(1.47) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.04 |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.31 |
0.16 |
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.06 |
0.78 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
35.018 |
35.018 |
38.968 |
|
Reserves & Surplus |
113.590 |
117.102 |
170.580 |
|
Share Application money pending
allotment |
0.000 |
50.900 |
0.000 |
|
Net worth |
148.608 |
203.020 |
209.548 |
|
|
|
|
|
|
Long-term borrowings |
24.894 |
16.035 |
5.789 |
|
Short term borrowings |
31.300 |
15.913 |
59.529 |
|
Total borrowings |
56.194 |
31.948 |
65.318 |
|
Debt/Equity ratio |
0.378 |
0.157 |
0.312 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
639.511 |
1180.349 |
1144.595 |
|
|
|
84.571 |
(3.029) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
639.511 |
1180.349 |
1144.595 |
|
Profit |
(8.321) |
3.512 |
6.528 |
|
|
(1.30%) |
0.30% |
0.57% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long-term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long-term debt |
10.245 |
9.774 |
10.385 |
|
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
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 |
10175713 |
12/10/2012 * |
96,400,000.00 |
KOTAK MAHINDRA BANK
LIMITED |
36-38A, NARIMAN BHAVAN, 227,
D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B63224042 |
|
2 |
10147871 |
27/02/2009 |
2,000,000.00 |
FIRST LEASING CO OF INDIA
LIMITED |
749, ANNA SALAI,
CHENNAI-2, TAMILNADU, TAMILNADU, |
A58308651 |
|
3 |
10102796 |
29/02/2008 |
10,000,000.00 |
KOTAK MAHINDRA BANK
LIMITED |
36-38A, NARIMAN BHAVAN,
227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A38564654 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances from others |
0.735 |
0.913 |
|
Total
|
0.735 |
0.913 |
REVIEW OF OPERATION:
During the year, the
Company has earned a profit of Rs.6.528 millions.
The net profit for the year
has been Rs.6.528 millions as against a Profit of Rs.3.512 millions during the
previous financial year.
The
Directors are continuously looking for avenues for future growth of the Company
in the Logistics industry.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
In respect of guarantees
given by Banks and / or counter guarantees given by the Company. |
1.000 |
0.244 |
|
Total
|
1.000 |
0.244 |
FIXED ASSETS:
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
WEBSITE DETAILS:
NEWS:
GERMANY'S RHENUS GROUP ACQUIRES 49% STAKE IN
WESTERN ARYA GROUP
31.10.2013
The new
joint venture Rhenus Logistics India to offer warehousing, shipping and
multi-modal transport operations
Mumbai : Euro 4
billion Germany headquartered Rhenus Group has raised their stake to 49%
post-merger of the domestic trucking activity into a joint venture with Indian
company Western Arya. The Joint Venture Company will be called “Rhenus
Logistics India Limited".
Mr Klemens Rethmann,
CEO, Rhenus Group and Mr Vivek Arya, MD, Rhenus Logistics India
were addressing the press conference.
This Joint Venture
will enable Rhenus to strengthen its presence in India to a significant degree
and will also help develop the market in Asian region for the Rhenus brand.
Backed with 100
years of expertise in diverse logistics activities ranging from Hi-Tech to Hospital
Logistics to Home Delivery to E-fulfillment etc. it will help in growing the
Rhenus India business.
Rhenus's mission has
been to provide the highest quality level of services, cost efficiency and
productivity to customers and global partners, while maintaining and building
long lasting relationships.
With 51:49 ratio,
Arya's are the majority shareholders bringing in vast experience in logistics
business. The Arya's will be holding the management position and will be
responsible for driving the business growth under Rhenus banner. The Board
Members comprise of Mr. Vivek Arya - Managing Director, Mr. Parikshit Arya
Joint Managing Director and Mr. Uwe Oemmelen, Board Member.
Mr Shaunak Mehta,
GM-Europe, Rhenus Logistics
Speaking on this
occasion, Klemens Rethmann, CEO, Rhenus Group, said that, "Through the
Arya Group we now have our own services in the Air, Ocean, Customs Clearance,
Distribution and Third-Party Logistics in India. As a result, we will be able
to offer our customers more comprehensive services in India. Rhenus will fully
integrate through the Arya business locations spread across India thereby
strengthening its reach and service.
“We first invested
in Rhenus Prolog in 2010, with a 25 per cent stake. Now we have increased the
stake to 49 per cent. We have full faith in our Indian partners and they will
be managing the company,” said Klemens Rethmann.
Vivek Arya, Managing
Director, Rhenus Logistics India Limited, said, "Our aim is to be a
leading competitive Integrated logistics company; setting the industry
standards for service, efficiency and productivity. With this merger and joint
venture, we are able to expand our presence in European sub-continent and Asian
Countries and we will be able to achieve the goals set out through our commitment
and compliance of our Quality Management Systems".
Arya further added
that, "The Rhenus international network and technology know how with
superior and cost effective in house services will help customers. Customers
will find cost effective solutions under one umbrella. We are one of the
very few companies in India today who offer end to end logistics services and
are a ONE STOP SHOP solution for the customer. It's all about customers and we
are geared up to take our relationships with the customers to the next level of
logistics".
Rhenus Logistics
India Limited has presence across all major gateways in India with capabilities
to offer Freight Forwarding, Warehousing and Distribution, Value added
Services, Foreign Trade Management Services (FTMS), Customs Clearance across
gateways and to cover FTL, LTL, Express, Milk runs as well as other transport
related services through Former Western Arya Transport network.
Rhenus has
significant Warehousing space at strategic locations with ability to scale up
at short notice and all offices of Rhenus India are networked and supported by
systems across product lines with strength of over 850 professionals.
The Rhenus Group
provides logistics services around the globe and has annual turnover amounting
to EUR 4 billion. Rhenus employs over 24,000 people at more than 350 locations
worldwide. The Rhenus business areas Contract Logistics, Freight
Logistics, Port Logistics and Public Transport manage complex supply
chains and provide a wealth of innovative value-added services.
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 records 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.59.33 |
|
|
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.