MIRA INFORM REPORT

 

 

Report No. :

306444

Report Date :

04.02.2015

 

IDENTIFICATION DETAILS

 

Name :

CARGO PLACEMENT AND SHIPPING AGENCIES PRIVATE LIMITED

 

 

Registered Office :

A-101/102, EDEN - II, Hiranandani Garden, Powai, Mumbai – 400076, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.06.2005

 

 

Com. Reg. No.:

11-154384

 

 

Capital Investment / Paid-up Capital :

Rs.3.000 Millions

 

 

CIN No.:

[Company Identification No.]

U63000MH2005PTC154384

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMC13655F

 

 

PAN No.:

[Permanent Account No.]

AACCC6300N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Providing Logistics Services.

 

 

No. of Employees :

130 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

The company 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.

 

EXTERNAL AGENCY RATING

 

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Ms. Shweta

Designation :

Account Executive

Contact No.:

91-22-61388605

Date :

14.11.2009

 

 

LOCATIONS

 

Registered Office :

A-101/102, EDEN - II, Hiranandani Garden, Powai, Mumbai – 400076, Maharashtra, India

Tel. No.:

91-22-22625412

Mobile No.:

91-9320717377 (Mr. C.P. Sajeevan)

Fax No.:

91-22-22625414

E-Mail :

sales@cargoplacement.com 

cps@worldline.co.in 

cps@cargoplacement.com

Website :

http://www.cargoplacement.com

Area :

Owned

 

 

Corporate Office :

302, Antariksh (Thakur House), Makwana Raod, Marol, Andheri (E), 
Mumbai – 400059, Maharashtra, India

Tel. No.:

91-22-61388605  (100Lines) / 27240227

Fax No.:

91-22-28250585 / 27240227

 

 

Branches :

Located at :

 

  • Ahmedabad
  • Bangalore 
  • Chennai 
  • New Delhi
  • Gwalior
  • Gandhidham
  • Indore
  • Kochi
  • Kolkata
  • Mumbai
  • Pune 
  • Coimbatore
  • Jodhpur
  • Jaipur
  • Kanpur
  • Kandla
  • Ludhiana
  • Mangalore
  • Tirupur
  • Tuticorin
  • Nhava Sheva
  • Kochi (Sea)

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Sajeevan Cheruparambil Prabhakaran

Designation :

Managing director

Address :

A-101/102, EDEN - II, Hiranandani Garden, Powai, Mumbai – 400076, Maharashtra, India

Date of Birth/Age :

15.05.1966

Date of Appointment :

30.06.2005

DIN No.:

00779685

 

 

Name :

Anitha Sajeevan

Designation :

Director

Address :

A-101/102, EDEN - II, Hiranandani Garden, Powai, Mumbai – 400076, Maharashtra, India

Date of Birth/Age :

28.05.1972

Date of Appointment :

30.06.2005

DIN No.:

00928076

 

 

 

KEY EXECUTIVE

 

Name :

Ms. Shweta

Designation :

Account Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

 

Names of Shareholders

 

No. of Shares

 

Sajeevan Cheruparambil Prabhakaran

 

15,000

Anitha Sajeevan

 

15,000

Total

 

30,000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

 

 

Total

100.00

 

 

 

BUSINESS DETAILS

 

 

Line of Business :

Providing Logistics Services.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Ashish Life Science

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users

 

Reference :

Aban Offshore Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

130 (Approximately)

 

 

Bankers :

Bank Name

Indusind Bank

Branch

Marol, Andheri

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • Indusind Bank Limited, Acme Plaza, CTS No. 32 Opposite, Sangam Talkies, Andheri - Kurla Road, Andheri (E), Mumbai - 400059, Maharashtra, India

 

  • HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

 

  • Corporation Bank, SME - Marol Branch, Sarhar Bonanza Plaza, Marol, Andheri Kurla Road Andheri-East, Mumbai - 400059, Maharashtra, India

 

 

Facilities :

 

Secured Loan

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

Short-term borrowings

 

 

Bank Overdraft – Indusind Bank

27.557

18.016

Total

27.557

18.016

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Parikh and Amin Associates

Chartered Accountants

Address :

205, 2nd Floor, B Wing, Abhinav Aptartments., Shradhanand Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India

Tel. No.:

91-22-26161717 / 18 / 40441600

Fax No.:

91-22-26161818

E-Mail :

parikhamin.associates@mtnl.net.in

parikhamin.associates@rediffmail.com

kparikh57@gmail.com

PAN No.:

AABFM0369B

 

 

Associates/Subsidiaries :

Cargo Placement Services and Agencies Private Limited

 

Satya Enterprises

Address : A/ 101, EDEN II, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India

Activities: Trading and Transportation provider.

Bankers: HDFC Bank

 

Satyabhama Enterprises Private Limited

Address: A/ 101, EDEN II, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India

Line of Business: Trading and Transportation provider.

 

Arun Woollen Mills

Activities : Traders

Bankers : HDFC Bank

 

Memberships :

--

 

 

Collaborators :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

30000

Equity Shares

Rs.100/- Each

Rs.3.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

30000

Equity Shares

Rs.100/- Each

Rs.3.000 Millions

 

 

 

 

 


 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

3.000

3.000

3.000

(b) Reserves & Surplus

18.679

13.622

10.391

(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)

21.679

16.622

13.391

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

18.036

18.015

6.145

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(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)

18.036

18.015

6.145

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

27.557

18.016

22.107

(b) Trade payables

22.465

7.415

10.222

(c) Other current liabilities

7.664

9.145

8.278

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

57.686

34.576

40.607

 

 

 

 

TOTAL

97.401

69.213

60.143

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1.780

1.594

1.822

(ii) Intangible Assets

0.000

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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.049

0.048

0.027

(d)  Long-term Loan and Advances

6.914

5.255

3.997

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

8.743

6.897

5.846

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

69.061

51.253

46.666

(d) Cash and cash equivalents

2.585

3.789

0.991

(e) Short-term loans and advances

17.012

7.272

6.633

(f) Other current assets

0.000

0.002

0.007

Total Current Assets

88.658

62.316

54.297

 

 

 

 

TOTAL

97.401

69.213

60.143

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

GROSS INCOME

389.769

348.393

329.204

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

381.934

342.980

324.109

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

7.835

5.413

5.095

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

0.492

0.551

0.594

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

7.343

4.862

4.501

 

 

 

 

 

Less

TAX

2.286

1.631

1.989

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

5.057

3.231

2.512

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

13.622

10.391

7.879

 

 

 

 

 

 

Balance Carried to the B/S

18.679

13.622

10.391

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

6.377

1.435

0.716

 

TOTAL EARNINGS

6.377

1.435

0.716

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 168.57

107.7

83.73

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Operating Profit Margin

(PBIDT/Sales)

(%)

2.01

1.55

1.55

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.54

7.03

7.49

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.34

0.29

0.34

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.10

2.17

2.11

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.54

1.80

1.34

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

3.000

3.000

3.000

Reserves & Surplus

10.391

13.622

18.679

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

13.391

16.622

21.679

 

 

 

 

long-term borrowings

6.145

18.015

18.036

Short term borrowings

22.107

18.016

27.557

Total borrowings

28.252

36.031

45.593

Debt/Equity ratio

2.110

2.168

2.103

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Gross Income

329.204

348.393

389.769

 

 

5.829

11.876

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Gross Income

329.204

348.393

389.769

Profit

2.512

3.231

5.057

 

0.76%

0.93%

1.30%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

No

21]

Market information

--

22]

Litigations that the firm / promoter involved in

--

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

--

26]

Buyer visit details

--

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

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

 

 

UNSECURED LOAN

 

Particulars

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

Long-term Borrowings

 

 

Loans

 

 

From Directors

0.128

0.285

From Bajaj Finance Limited

2.290

3.755

From Deautch Bank

3.010

4.000

From ECL Finance Limited

3.500

1.500

From Religare Finves

1.889

3.500

From Standard Chartered Bank

2.846

3.374

From Tata Capital Financial Services

0.244

1.551

Magma Fincorp Limited

1.129

0.000

Capital First

3.000

0.000

From Clear Fast

0.000

0.050

Total

18.036

18.015

 

NOTE :

 

The registered office of the company has been shifted from 227, Sahar Cargo Estate, Near Bombay Cambridge School, J.B. Nagar, Andheri (East), Mumbai – 400 099, Maharashtra, India to the present address w.e.f. 26.03.2012.

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10443110

15/12/2014 *

43,500,000.00

INDUSIND BANK LTD.

4TH FLOOR,OPUS CENTRE, CENTRAL ROAD, OPP. TUNGA P 
ARADISE, MIDC, ANDHERI- (E), MUMBAI, MAHARASHTRA - 
400093, INDIA

C38480604

 

* Date of charge modification

 

FIXED ASSETS

 

  • Air Conditioner
  • Camera
  • TVS Scooty
  • Telephone Instruments
  • Office Equipments
  • Office Equipments (Bangalore)
  • Computers
  • Computers (Bangalore)
  • Office Furniture
  • TATA Ace
  • TATA Ace (Bangalore)
  • Xerox Machine
  • Vehicle Altis
  • Type Writer
  • Bicycle
  • Honda Activa
  • Fax Machine

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.61.74

UK Pound

1

Rs.92.71

Euro

1

Rs.69.94

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SNT

 

 


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

4

--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

 

42

 

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

 

--

 

 

 

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.