MIRA
INFORM REPORT
|
Report No. : |
309606 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCHENKER INDIA PRIVATE LIMITED (w.e.f. 15.10.2007) |
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Formerly Known
As : |
BAX GLOBAL INDIA PRIVATE LIMITED AIDNI FREIGHT EXPRESS PRIVATE LIMITED |
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Registered
Office : |
217, Second Floor, Vardhman Crown Mall, Plot No.02,
L.S.C., Sector-19, Dwarka, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.12.1990 |
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Com. Reg. No.: |
55-042364 |
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Capital
Investment / Paid-up Capital : |
Rs.9.900 Million |
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CIN No.: [Company Identification
No.] |
U63010DL1990FTC042364 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
DELS21101D / DELB02458B |
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PAN No.: [Permanent Account No.] |
AAACS8948J / AAACB0697B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Freight Forwarding Services |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
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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 |
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Maximum Credit Limit : |
USD 4400000 |
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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 an established company having good track record. Financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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.
LOCATIONS
|
Registered Office : |
217, Second Floor, Vardhman Crown Mall, Plot No.02, L.S.C., Sector-19, Dwarka, New Delhi – 110075, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
Building No 8C, 12th Floor, DLF Cyber City, Phase II,
Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4645000 |
|
Fax No.: |
91-124-4645100 / 200 |
DIRECTORS
AS ON 18.09.2014
|
Name : |
Mr. Reiner Andreas Allgeier |
|
Designation : |
Managing Director |
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Address : |
2050, Lumbang Street, Dasmarinas Village, Makati City, 1200, Germany |
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Date of Birth/Age : |
05.07.1958 |
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Date of Appointment : |
01.08.2012 |
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DIN No.: |
06362606 |
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Name : |
Mr. Mayur Nareshbhai Gandhi |
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Designation : |
Whole Time Director |
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Address : |
A-601, Kaustabh Park, SVP Raodm Borivili, Mumbai – 400103,
Maharashtra, India |
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Date of Birth/Age : |
25.08.1968 |
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Date of Appointment : |
20.07.2007 |
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DIN No.: |
00120078 |
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Name : |
Mr. Ajay Sehgal |
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Designation : |
Whole Time Director |
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Address : |
16, Kalyan Vihar, Polo Road, New Delhi – 110009, India |
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Date of Birth/Age : |
17.02.1968 |
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Date of Appointment : |
20.07.2007 |
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DIN No.: |
01737216 |
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Name : |
Mr. Shubhendu Das |
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Designation : |
Director |
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Address : |
Flat 1201 2 C Wing PH 111, Lake Lucerne, Lake Homes Adi,
Shankaracharya Marg, Powai, Mumbai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
03.08.1965 |
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Date of Appointment : |
06.12.2011 |
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DIN No.: |
05177249 |
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Name : |
Mr. Jochen Thewes |
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Designation : |
Director |
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Address : |
Kaiser-Friedrich-Ring 6, Dusseldorf, 40545, Germany |
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Date of Birth/Age : |
23.02.1971 |
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Date of Appointment : |
06.12.2011 |
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DIN No.: |
05177741 |
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Name : |
Mr. Anders Wallin |
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Designation : |
Director |
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Address : |
11 Nathan Road, # 19-03 Regency PK, Singapore, 248732, Singapore |
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Date of Birth/Age : |
25.01.1965 |
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Date of Appointment : |
06.12.2011 |
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DIN No.: |
05177946 |
MAJOR SHAREHOLDERS
AS ON 18.09.2014
|
Names of Shareholders |
No. of Shares |
|
A.G. Schenker |
990003 |
|
Schenker Singapore PTE Limited, Singapore |
1 |
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|
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Total |
990004 |
Equity Share Break up (Percentage of Total Equity)
AS ON 18.09.2014
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Providing Freight Forwarding Services |
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Services : |
Freight Forwarding Services |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Surendra and Associates Chartered Accountants |
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Address : |
205, CA Chambers,18/12, W.E.A, Karol Bagh, New Delhi – 110005, India |
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Tel. No.: |
91-11-28759485 / 28750458 |
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Mobile No.: |
91-9811080323 |
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E-Mail : |
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PAN.: |
AEDPP3297D |
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Membership : |
-- |
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Ultimate Holding company : |
Deutsche Bahn AG |
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Holding company : |
Schenker AG |
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Fellow subsidiaries: |
Schenker Argentina S.A. Schenker Australia Pty. Limited Schenker & Co. Ag - Austria Db Schenker Fllc - Belarus Schenker N.V. - Belgium Schenker D.O.O. - Bosnia Schenker Do Brasil Transportes Internacionais Ltda. Schenker Eood - Bulgaria Schenker Of Canada Ltd. Schenker Chile S.A. Schenker China Ltd. Schenker Logistics Co. Ltd. - China Schenker D.O.O. - Croatia Schenker Spol. S.R.O. - Czech Republic Schenker A/S - Denmark Schenker Logistics S.A. - Dominican Republic Schenker Egypt Ltd. As Schenker - Estonia Schenker Oy – Finland Schenker Sa - France Schenker Aktiengesellschaft - Germany Schenker Deutschland Ag – Germany Schenker Ltd. - Great Britain (Uk) Schenker A.E. - Greece Schenker S.A. - Guatemala Schenker International Ltd. - Hong Kong Schenker Ocean Ltd. - Hong Kong Herber Hausner Szallitmanyozasi Kft. - Hungary Schenker Kft. - Hungary Schenker Ab - Iceland Schenker Petrolog Utama, Pt - Indonesia Schenker Ireland Ltd. Schenker Logistics Ltd. - Israel Schenker Italiana S.P.A. - Italy Schenker Seino Co. Limited - Japan Schenker Limited - Kenya Schenker Korea Limited - South Korea Sia Schenker - Latvia Schenker Uab - Lithuania Schenker Luxemburg Gmbh – Luxembourg Schenker Dooel - Macedonia Schenker Logistics Malaysiasdn Bhd. Schenker International S.A. De C.V. - Mexico Schenker Maroc S.A.R.L. – Morocco Schenker Namibia Pty Limited Schenker International B.V. - Netherlands Schenker Ltd. - New Zealand Schenker As - Norway Schenker Khimji's LLC - Oman Schenker Panama S.A. Schenker Peru S.R.L. Schenker Philippines, Inc. Schenker Sp.Zo.O. - Poland Schenker Transitarios, S.A. - Portugal Schenker, Inc. - Puerto Rico (Us) Schenker Romtrans S.A. - Romania Zao Schenker - Russian Federation Schenker Saudi Arabia LLC Schenker D.O.O. - Serbia Schenker Asia Pacific Pte. Limited - Singapore Schenker Singapore Pte Limited Schenker S.R.O. - Slovak Republic Schenker D.D. - Slovenia Schenker South Africa Pty Ltd Schenker Espana, S.A. - Spain Schenker Logistics S.A. - Spain Tir Transportes Inter Nacionales S.A. - Spain Transportes Santos Campos S.A. – Spain Schenker Ab - Sweden Schenker Equipment Ab - Sweden Schenker International Ab - Sweden Schenker Schweiz Ag - Switzerland Schenker (H.K.) Limited - Taiwan Schenker Thai Limited - Thailand Schenker Arkas Nakliyat Ve Tic. A.S. - Turkey Dp Schenker - Ukraine Schenker L.L.C - United Arab Emirates Schenker Middle East FZE - United Arab Emirates Schenker Logistics, Inc. - USA Schenker, Inc. - USA Engelberg Transportes Internacionales, C.A. Entra - Venezuela Schenker Vietnam Co. Limited |
CAPITAL STRUCTURE
AS ON 18.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
990004 |
Equity Shares |
Rs.10/- each |
Rs.9.900 Million |
|
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|
|
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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 |
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|
|
|
(a) Share Capital |
9.900 |
9.900 |
9.900 |
|
(b) Reserves & Surplus |
1517.738 |
1418.858 |
1678.400 |
|
(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) |
1527.638 |
1428.758 |
1688.300 |
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
50.936 |
52.070 |
0.000 |
|
Total Non-current Liabilities (3) |
50.936 |
52.070 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1484.105 |
1325.033 |
1063.000 |
|
(c) Other current
liabilities |
644.843 |
499.950 |
859.500 |
|
(d) Short-term provisions |
42.089 |
52.791 |
45.700 |
|
Total Current Liabilities (4) |
2171.037 |
1877.774 |
1968.200 |
|
|
|
|
|
|
TOTAL |
3749.611 |
3358.602 |
3656.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
172.388 |
163.399 |
120.700 |
|
(ii) Intangible Assets |
6.661 |
11.445 |
15.300 |
|
(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) |
162.093 |
84.494 |
60.900 |
|
(d) Long-term Loan and Advances |
209.793 |
182.844 |
235.100 |
|
(e) Other Non-current assets |
25.362 |
21.921 |
533.800 |
|
Total Non-Current Assets |
576.297 |
464.103 |
965.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
2014.764 |
1818.167 |
1893.900 |
|
(d) Cash and cash
equivalents |
892.115 |
941.184 |
660.100 |
|
(e) Short-term loans and
advances |
266.435 |
135.148 |
136.700 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
3173.314 |
2894.499 |
2690.700 |
|
|
|
|
|
|
TOTAL |
3749.611 |
3358.602 |
3656.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
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|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
11185.214 |
12525.776 |
18584.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
10488.642 |
11817.055 |
17445.200 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
696.572 |
708.721 |
1139.500 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
79.138 |
69.784 |
82.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
617.434 |
638.937 |
1056.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
132.855 |
321.447 |
389.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
484.579 |
317.490 |
667.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
489.47 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.21 |
19.51 |
29.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.45 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.54 |
1.37 |
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 |
9.900 |
9.900 |
9.900 |
|
Reserves & Surplus |
1678.400 |
1418.858 |
1517.738 |
|
Net
worth |
1688.300 |
1428.758 |
1527.638 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
|
Sales |
18584.700 |
12525.776 |
11185.214 |
|
|
|
-32.602 |
-10.702 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
18584.700 |
12525.776 |
11185.214 |
|
Profit |
667.300 |
317.490 |
484.579 |
|
|
3.59% |
2.53% |
4.33% |
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 |
Mo |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered office
address of the company has been shifted from 93-94, Kapashera, New Delhi
– 110037, India to the present address w.e.f. 15.11.2013
NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Building
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
Vehicles
·
Plant and Machinery
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.62.28 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
65 |
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.