MIRA INFORM REPORT
|
Report No. : |
301885 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
DRIVE INDIA ENTERPRISE SOLUTIONS LIMITED (w.e.f. 30.03.2007) |
|
|
|
|
Formerly Known
As : |
DRIVEINDIACOM LIMITED |
|
|
|
|
Registered Office
: |
7th Floor, Kamla Executive Park, Andheri (East), Mumbai -
400059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.04.2000 |
|
|
|
|
Com. Reg. No.: |
11-126195 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.51.204 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2000PLC126195 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD12064D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD5823E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
·
Trading in Handsets and Telecom Accessories. ·
Providing Logistics Services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a “Tata Group Company”. The company is owned by “Tata International Limited” (50%) and “Tata
Industries Limited” (50%). It is an established company having satisfactory track
record. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of strong holdings, 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.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB+” Withdrawn |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
20.05.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3+” Withdrawn |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
20.05.2014 |
REASON:
CARE has withdrawn the ratings assigned to the
above mentioned bank facilities of Drive India Enterprise solution Limited with
immediate effect as the company has fully repaid the amounts under the said
facilities and there is no amount outstanding under the facilities as on date.
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/
Corporate Office : |
7th Floor, Kamla Executive Park, Andheri (East), Mumbai -
400059, Maharashtra, India |
|
Tel. No.: |
91-22-67779000 |
|
Fax No.: |
91-22-67779001/ 9002 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 16.06.2014
|
Name : |
Mr. Rameshwar Singh Thakur |
|
Designation : |
Additional Director |
|
Address : |
Flat No.205, Burlington, Hiranandani Estate, Patlipada, Thane (West),
Mumbai-400607, Maharashtra, India |
|
Date of Birth/Age : |
06.09.1948 |
|
Qualifications: |
Bachelor’s Degree in Mechanical Engineering, Master’s Degree in Business Management from XLRI and Chartered Management Accountant from CIMA, London |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00020126 |
|
|
|
|
Name : |
Mr. Noel Naval Tata |
|
Designation : |
Additional Director |
|
Address : |
Windmere Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1956 |
|
Qualifications: |
B.A.(in Economics from Sussex University, London) |
|
Date of Appointment : |
01.11.2010 |
|
DIN No.: |
00024713 |
|
|
|
|
Name : |
Mr. Ajay Murlidhar Ponkshe |
|
Designation : |
Director |
|
Address : |
Flat No.3 1st Floor, Yashodhan, Sahayog Mandir Path,
Naupada Thane – 400 601, |
|
Date of Birth/Age : |
27.02.1960 |
|
Qualifications: |
B.COM., ACA, ACS |
|
Date of Appointment : |
16.07.2007 |
|
DIN No.: |
01663073 |
|
|
|
|
Name : |
Mr. Kanwar Rameshwar Singh Jamwal |
|
Designation : |
Additional Director |
|
Address : |
73-A, Maker Towers, CHSL, Cuffe Parade, Mumbai-400005, Maharashtra,
India |
|
Date of Birth/Age : |
11.10.1965 |
|
Qualifications: |
BE in Technology in petroleum, PG in management |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
03129908 |
|
|
|
|
Name : |
Mr. Milind Madhav Shahane |
|
Designation : |
Executive Director and Chief Executive Officer |
|
Address : |
C-22, Swapnaship Apartments, 52, Mahant Road, Vile Parle, (East),
Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1963 |
|
Qualifications: |
BTECH, MS (Chemical) IIT- Mumbai, MBA IIM (Ahmedabad) |
|
Date of Appointment : |
26.09.2012 |
|
PAN No.: |
AAEPP6047Q |
|
DIN No.: |
03291774 |
KEY EXECUTIVES
|
Name : |
Mr. Vishal Shah |
|
Designation : |
Secretary |
|
Address : |
A-604, Poonam Enclave, Opposite Wagheshwari Temple, Film City Road,
Malad (East), Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
02.05.1976 |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
ANZPS0103N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Tata Industries Limited, India |
|
2560144 |
|
Tata Industries Limited, |
|
10 |
|
Tata Industries Limited, India Jointly With K K Bhatt |
|
10 |
|
Tata Industries Limited, India Jointly With Dhirendrasingh Kushwah |
|
10 |
|
Tata Industries Limited, India Jointly With Mr. S. Sriram |
|
10 |
|
Tata Industries Limited, India Jointly With Deepika Bhagwagar |
|
10 |
|
Tata International Limited, India |
|
2560206 |
|
Total |
|
5120400 |
Equity Share Break up (Percentage of Total Equity)
As on 16.06.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
·
Trading in Handsets and Telecom Accessories. ·
Providing Logistics Services |
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Products : |
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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 : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Australia and New Zealand Banking Group Limited Cynergy, A-1 Ground floor and A-6th Floor, Appa Saheb Marathe Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India · Axis Bank Limited Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India · Union Bank of India Limited, Maharashtra, India · Canara Bank Corporate Services Branch, 101, 1st Floor, Dalamal, Towers, B Wing, Nariman Point, Mumbai - 400021, Maharashtra, India |
||||||||||||||
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Facilities : |
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Banking
Relations : |
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|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th To 32nd Floor, Indiabulls Finance Center, Elphinstone Mill Compound, Senapati Bapat Marg, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFD2337G |
|
|
|
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Memberships : |
-- |
|
|
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|
Collaborators : |
-- |
|
|
|
|
Holding Company: |
· Tata International Limited, India [U51900MH1962PLC012528] |
|
|
|
|
Ultimate Holding
Company: |
· Tata Sons Limited, India [U99999MH1917PLC000478] |
|
|
|
|
Tata Industries Limited
has significant influence over the Company: |
· Tata Industries Limited, India [U44003MH1945PLC004403] |
|
|
|
|
Fellow Subsidiaries
with whom the Company had Transactions: |
· Infinity Retail Limited, India [U31900MH2005PLC158120] · Tata Consultancy Services Limited, India [L22210MH1995PLC084781] · Tata Sky Limited, India [U92120MH2001PLC130365] · Tata Teleservices Limited, India [U74899DL1995PLC066685] · Tata Teleservices (Maharashtra) Limited, India [L64200MH1995PLC086354] · Tata Petrodyne Limited, India [U11100MH1993PLC134095] · Tata Autocomp Systems Limited, India [U34100MH1995PLC093733] · Tata AIG Life Insurance Company Limited, India [U85110MH2000PLC128425] · VIOM Networks Limited, India [U72200DL2004PLC228400] · Tata Advance Materials Limited, India [U85110KA1989PLC013224] · Tata Lockheed Martin Aerostructures Limited (formerly Tata Aerostructures Limited) |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5120400 |
Equity Shares |
Rs.10/- each |
Rs. 51.204
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 |
51.204 |
51.204 |
51.204 |
|
(b) Reserves & Surplus |
162.934 |
158.063 |
543.322 |
|
(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) |
214.138 |
209.267 |
594.526 |
|
|
|
|
|
|
(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 |
1.308 |
2.329 |
2.474 |
|
(d) long-term provisions |
14.207 |
16.846 |
24.446 |
|
Total
Non-current Liabilities (3) |
15.515 |
19.175 |
26.920 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1602.771 |
2413.203 |
3329.715 |
|
(b) Trade payables |
1393.044 |
891.189 |
2445.630 |
|
(c) Other current liabilities |
364.799 |
215.555 |
365.601 |
|
(d) Short-term provisions |
6.145 |
3.644 |
5.935 |
|
Total
Current Liabilities (4) |
3366.759 |
3523.591 |
6146.881 |
|
|
|
|
|
|
TOTAL |
3596.412 |
3752.033 |
6768.327 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
445.475 |
453.030 |
469.748 |
|
(ii) Intangible Assets |
56.470 |
89.549 |
83.728 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
24.709 |
|
(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) |
0.000 |
0.000 |
22.090 |
|
(d) Long-term Loan and Advances |
486.816 |
392.466 |
312.519 |
|
(e) Other Non-current assets |
196.956 |
215.788 |
323.873 |
|
Total
Non-Current Assets |
1185.717 |
1150.833 |
1236.667 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
1.925 |
0.000 |
|
(b) Inventories |
697.233 |
1006.864 |
2076.099 |
|
(c) Trade receivables |
1357.160 |
1166.082 |
1674.431 |
|
(d) Cash and cash equivalents |
11.578 |
128.454 |
950.926 |
|
(e) Short-term loans and
advances |
231.052 |
188.152 |
260.332 |
|
(f) Other current assets |
113.672 |
109.723 |
569.872 |
|
Total
Current Assets |
2410.695 |
2601.200 |
5531.660 |
|
|
|
|
|
|
TOTAL |
3596.412 |
3752.033 |
6768.327 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6677.656 |
7723.712 |
13318.222 |
|
|
Other Income |
199.664 |
93.022 |
60.705 |
|
|
TOTAL
(A) |
6877.320 |
7816.734 |
13378.927 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
3493.236 |
3797.995 |
9852.631 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
309.631 |
1069.235 |
(77.850) |
|
|
Employees benefits expense |
332.555 |
302.389 |
393.046 |
|
|
Other expenses |
2527.406 |
2725.438 |
3000.117 |
|
|
Exceptional items |
0.000 |
120.000 |
120.000 |
|
|
TOTAL
(B) |
6662.828 |
8015.057 |
13287.944 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
214.492 |
(198.323) |
90.983 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
115.582 |
71.071 |
93.348 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
98.910 |
(269.394) |
-2.365 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
91.044 |
93.775 |
111.310 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
7.866 |
(363.169) |
(113.675) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
22.090 |
(2.313) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
7.866 |
(385.259) |
(111.362) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
157.800 |
543.000 |
654.400 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
3.000 |
0.000 |
0.000 |
|
|
Balance
Carried to the B/S |
162.700 |
157.800 |
543.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.54 |
(75.24) |
21.75 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.12 |
(4.99) |
-0.84 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.21 |
(2.57) |
0.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.22 |
(9.68) |
(1.69) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
(1.74) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.48 |
11.53 |
5.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.72 |
0.74 |
0.90 |
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 |
51.204 |
51.204 |
51.204 |
|
Reserves & Surplus |
543.322 |
158.063 |
162.934 |
|
Net
worth |
594.526 |
209.267 |
214.138 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
3329.715 |
2413.203 |
1602.771 |
|
Total
borrowings |
3329.715 |
2413.203 |
1602.771 |
|
Debt/Equity
ratio |
5.601 |
11.532 |
7.485 |
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 |
13318.222 |
7723.712 |
6677.656 |
|
|
|
(42.006) |
(13.543) |
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 |
13318.222 |
7723.712 |
6677.656 |
|
Profit |
(111.362) |
(385.259) |
7.866 |
|
|
(0.84%) |
(4.99%) |
0.12% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
24/09/2014 |
|||||
|
Lodging No.:- |
WPL/2587/2014 |
Filing Date:- |
24/09/2014 |
|||
|
Petitioner:- |
M/S. OVERSEAS MOBILES PRIVATE LIMITED |
|
Respondent:-M/S. DRIVE INDIA ENTERPRISE SOLUTIONS LTD. AND 2 ORS. |
|
|
||||||||||||||||||||||||||||||||
|
|
NOTE:
Registered office has been shifted from G-1 and 2, New Udyog Mandir 2, Mogul
Lane, Mahim (West), Mumbai, Maharashtra, India to the present address w.e.f.
01.02.2009
OPERATING RESULTS AND
BUSINESS:
The Company has achieved an overall turnover of Rs. 6877.300 Millions (previous year Rs. 7816.700 Millions), a decrease of 12 %. The turnover has two major components, sourcing and Distribution - Rs. 3984.000 Millions (previous year Rs. 5097.500 Millions) and Service Business - Rs. 2693.500 Millions (previous year Rs. 262.62 Crores). The overall Profit for the period ended 31-March-2014 was Rs. 7.900 Millions (as compared with a Loss of Rs. 385.300 Millions in the previous year).
During the financial year 2013-14 the Company has faced significant challenges principally from reduction in business from its largest Sourcing and Distribution Services (SDS) - erstwhile Trading - customer and although new customers have been developed across the Telecom space, a majority of these were taken on board only towards the end of the Financial Year 2013-14.
The Service Business (Warehousing, Distribution and Value added services) for FY 2013-14 was stagnant with a marginal increase of sales revenue of Rs. 67.300 Millions as compared with the previous year. The Company has extended its existing business with Titan Industries Limited, Tata Power Solar, Eureka Forbes and added new customers viz. Bosch (BSH), Exide Industries, Delta Power, etc. and lost customers viz., Asian
Paints, Voltas EMRBG, Raipur), Jotun Paints (Bhubaneswar), Bayer (Chennai).
FUTURE OUTLOOK:
The Indian Logistics market is estimated by McKinsey to be Rs. 6655000.000 Millions in FY 13-14 and expected to grow at a CAGR of 9-11% to reach Rs. 8857810.000 Millions by 2017. The current Indian 3PL market of Rs. 451440.000 Millions is expected to grow at a CAGR of 20% to reach Rs. 780090.000 Millions by 2017. Of the total logistics market in India, Transportation is the largest segment with 62% share followed by Warehousing 26%, Freight Forwarding 8% and Value Added Services (VAS) 4%. The Company is well positioned to grow exponentially across all these segments.
Key positive drivers for the Indian Logistics Industry:
1. The share of modern warehousing is anticipated to grow to 30% and reach 178 million sq. ft. by 2015.
2. Rising domestic and EXIM freight volumes
3. Industrial Infrastructure Development - Dedicated Freight Corridors along the Eastern and Western routes, Delhi-Mumbai Industrial Corridor
4. Emergence of Private Container Train Operators (CTO) have brought in competitiveness
5. Implementation of Goods and Service Tax (GST) expected to result in consolidation of warehouses
6. FDI policy related to logistics sector has encouraged foreign players to invest in the sector.
The Directors have a reasonable expectation that the Company shall better its sales performance, operational improvement and efficiency in the coming years together with new customers that will be added across both the SDS and Service verticals. The Company expects to achieve operational improvement with better cost control measures, achieving higher volume of sales at existing overheads levels and improvements in margin from better negotiations with customers. Thus, the going concern basis of accounting continues to be adopted in the preparation of the annual financial statements.
CORPORATE INFORMATION
Subject incorporated on 27th April, 2000 is part of the TATA Group as a joint venture arrangement between Tata Industries Limited and Tata International Limited. The operations of the Company have evolved from Import and Distribution of Handsets and other equipment to providing Warehousing and Distribution (Logistics) Solutions. It caters to industries such as Telecommunication, Consumer Durables, Fast Moving Consumer Goods, Retail, Direct To Home, Project Logistics, Automobile.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10459010 |
22/10/2013 |
1,300,000,000.00 |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED |
CYNERGY, A-1 GROUND FLOOR & A-6TH FLOOR, APPA SAHEB MARATHE MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B89052161 |
|
2 |
10452940 |
09/10/2013 |
1,125,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B86614476 |
|
3 |
90145628 |
24/10/2008 * |
5,000,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
A49125198 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
- Computer software
PRESS RELEASES
DRIVE INDIA ENTERPRISE SOLUTIONS WINS AWARD FOR OUTSTANDING COMPANY IN
LOGISTICS (INFRASTRUCTURE CATEGORY)
DECEMBER 29, 2014
Drive India Enterprise Solution (DIESL), the logistics arm of Tata group, has been conferred as winner for “Outstanding Company in Logistics (Infrastructure category)” Award at the 5th EPC World Awards 2014 which was held on December 18, 2014 at New Delhi.
The event endorsed by Zee Business, along with Ernst and Young LLP who were
also the audit partners for the award ceremony. Key Industry members like Vijay
Jolly, Convenor of 5th EPC World Awards 2014; Pramod Deo, former chairman of
CERC; Sushi Shyamal, Partner, transaction advisory services from Ernst and
Young LLP; RS Butola, former chairman of Indian Oil Corporation; P Uma Shankar,
former power secretary; Sonmoni Borah, former commissioner of Chhattisgarh
Housing Board, Raipur; Anuj Puri, chairman and country head, India from Jones
Lang Lasalle; Tejasvi Sharma, MD and Editor-in-Chief of EPC World Media Group;
RS Sharma, chairman of SW Asia Operations, Lloyd’s Register; SK Chaudhary,
director (projects) from NBCC and Ranjeet More, vice chairman of UCM and E were
the part of the award jury panel.
DRIVE INDIA ENTERPRISE SOLUTIONS WINS THE BEST 3PL COMPANY OF THE YEAR
AWARD 2014
FEBRUARY 21, 2014
Drive India Enterprise Solution (DIESL), the logistics arm of the Tata group, received the ‘best 3PL company of the year’ award from the Indian Chamber of Commerce at the Indian Supply Chain Logistics Summit and Excellence Awards 2014, which was held on February 18, 2014, at New Delhi. This award was won amidst stiff competition from leading logistics companies in India like TCI, DHL Supply Chain, Gati-Kintetsu Express, Future Supply Chain, Delex Cargo India, Indelox Services, Accelerated Warehousing Logistics and Safexpress.
The event was endorsed by ET Now and Deloitte, which was also the official audit partner for the award ceremony. The winners of the awards were selected by a panel of industry leaders. The jury panel was chaired by Prof Anwarul Hoda, former member of the Planning Commission, and other panel members included Harry Lagad, vice president, corporate projects for South and South East Asia from Toll Global Logistics; Peeyush Naidu, senior director, Deloitte; Bharat Thakkar, president, Air Cargo Agents Association of India; SS Khurana, former chairman of the railway board; and Brijeshwar Singh, former chairman from NHAI.
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.63.39 |
|
|
1 |
Rs.96.85 |
|
Euro |
1 |
Rs.75.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
45 |
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.