MIRA INFORM REPORT

 

 

Report No. :

330895

Report Date :

06.07.2015

 

IDENTIFICATION DETAILS

 

Name :

KOTAK LOGISTICS

 

 

Registered Office :

2 and 3, 2nd Floor, Metro Commercial Center, Old High Court Lane, Income Tax, Ahmedabad – 380009, Gujarat

Tel. No.:

91-79-40070704

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015 (Projected)

 

 

Year of Establishment :

2009

 

 

Capital Investment / Paid-up Capital :

Rs.7.892 Million

 

 

IEC No.:

Not Divulged

 

 

TIN No.:

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AQPPK0131P

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

The subject is act as a clearing and forwarding agency. Also the service provider of transporters, bulk carriers, cargo and Trader of phosphoric acid.

 

 

No. of Employees :

15 (Approximately)

 

 

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 :

Clear

 

 

Comments :

Subject is an established proprietorship concern having satisfactory track record.

 

General financial position of the concern seems to be fair.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Purvi Rajnikant Kotak

Designation :

Proprietor

Contact No.:

91-9909559842

Date :

04.07.2015

 

 

LOCATIONS

 

Registered Office :

2 and 3, 2nd Floor, Metro Commercial Center, Old High Court Lane, Income Tax, Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-79-40070704

Mobile No.:

91-9909559842 (Ms. Purvi)

Fax No.:

91-79-40070704

E-Mail :

purvi@kotaklogistics.com

docsamd@kotaklogistics.com

Website :

www.kotaklogistics.com

 

 

 

 

SOLE PROPRIETOR

 

Name :

Ms. Purvi Rajnikant Kotak

Designation :

Proprietor

Date of Birth/ Age :

37 Years

Qualification :

MBA (Finance)

 

 

BUSINESS DETAILS

 

Line of Business :

The subject is act as a clearing and forwarding agency. Also the service provider of transporters, bulk carriers, cargo and Trader of phosphoric acid.

 

 

Products :

Phosphoric Acid

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Phosphoric Acid

Countries :

Egypt

 

 

Terms :

 

Selling :

Cash, Credit (30 / 60 / 90 Days)

 

 

Purchasing :

Cash, Credit (30 / 60 / 90 Days)

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Global Alliance LLC

Name of the Person :

Mr. Mihir Karia (Director)

Contact No.:

91-7666610863

Since How Long Known :

7 Years

Maximum Limit Dealt :

Rs.150.000 Million p.a.

Experience :

Payment Behaviour

Market Goodwill             Excellent

Overall                      

Remark :

They are very much satisfied with their Payment behaviour and market goodwill. Overall it’s a good company. No complaints.

 

 

Customers :

End Users, OEM’s

 

Company Name :

Gujarat State Fertilizers and Chemicals Limited

Name of the Person :

Mr. Bharat Pagare (Senior Manager -Purchase)

Contact No.:

91-9909986771

Since How Long Known :

7 Years

Maximum Limit Dealt :

Rs.0.400 Million p.a.

Experience :

Product Quality

Delivery Behaviour        Excellent    

Overall                      

Remark :

Satisfied. They are satisfied with product quality and delivery behaviour. No complaints as such.

 

 

No. of Employees :

15 (Approximately)

 

 

Bankers :

Banker Name :

Bank of Baroda

Branch :

Navrangpura, Ahmedabad, Gujarat, India

Person Name (With Designation) :

Mr. Choradia (Branch Manager)

Contact Number :

91-9978446538

Name of Account Holder :

Kotak Logistics

Account Number :

03330500000117 / 03330400000430

Account Since (Date/Year of Account Opening) :

2010

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

03330500000117 - Cash Credit = Rs.7.500 Million

03330400000430 - Over Draft FD = Rs.0.800 Million

Account Operation :

--

Remark :

Transactions are fair. No Cheque bounce. Positive feedback from the client.

 

 

Auditors :

 

Name :

RNCA

Chartered Accountant

Address :

Ahmedabad, Gujarat, India

 

 

Collaborators :

Not Divulged

 

 

Membership :

Not Divulged

 

 

Sister Concern :

KOTAK IMPEX PRIVATE LIMITED

Address: 2 and 3, 2nd Floor, Metro Commercial Center, Old High Court Lane, Income Tax, Ahmedabad – 380009, Gujarat, India

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Particulars

Rs. In Million

(Projected)

Proprietor’s Capital Fund

6.173

Add: Addition during the year

0.554

Less: Withdrawal

(0.285)

Profit & Loss A/c

1.450

 

 

Total

7.892

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

(Projected)

31.03.2014

(Actual)

31.03.2013

(Actual)

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

7.892

6.173

3.931

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

7.892

6.173

3.931

LOAN FUNDS

 

 

 

1] Secured Loans

2.434

2.468

2.672

2] Unsecured Loans

6.324

1.890

1.797

TOTAL BORROWING

8.758

4.358

4.469

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

16.650

10.531

8.400

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

6.409

6.121

5.058

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

4.359

3.195

2.190

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

0.000

0.000

0.000

 

Sundry Debtors

6.037

6.819

7.084

 

Cash & Bank Balances

1.031

0.550

0.432

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances

6.015

4.658

3.793

Total Current Assets

13.083

12.027

11.309

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors

1.990

9.054

10.081

 

Other Current Liabilities

5.211

1.758

0.076

 

Provisions

0.000

0.000

0.000

Total Current Liabilities

7.201

10.812

10.157

Net Current Assets

5.882

1.215

1.152

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

16.650

10.531

8.400

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

(Projected)

31.03.2014

(Actual)

31.03.2013

(Actual)

 

SALES

 

 

 

 

 

Logistic Service

142.977

68.682

62.683

 

 

Other Income

0.365

0.332

0.308

 

 

TOTAL                                              (A)

143.342

69.014

62.991

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Direct Expenses

135.853

63.192

58.340

 

 

Administrative Expenses

4.970

3.879

2.929

 

 

TOTAL                                              (B)

140.823

67.071

61.269

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

2.519

1.943

1.722

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

0.407

0.379

0.489

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

2.112

1.564

1.233

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

0.662

0.674

0.523

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                  (G)     

1.450

0.890

0.710

 

 

 

 

 

Less

TAX                                                                  (H)

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                    (I)

1.450

0.890

0.710

 

 

 

 

 

Add

DEPRECIATION ADDED BACK

0.662

0.674

0.524

 

 

 

 

 

 

NET CASH ACCRUALS

2.112

1.564

1.234

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

(Projected)

31.03.2014

(Actual)

31.03.2013

(Actual)

 

 

 

 

 

Net Profit Margin

(PAT / Total Income)

(%)

1.01

1.29

1.13

 

 

 

 

 

Operating Profit Margin

(PBDIT/Total Income)

(%)

1.76

2.82

2.73

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

7.44

4.90

4.34

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.18

0.14

0.18

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.11

0.71

1.14

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.82

1.11

1.11

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

(Actual)

31.03.2014

(Actual)

31.03.2015

(Projected)

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

3.931

6.173

7.892

Reserves & Surplus

0.000

0.000

0.000

Net worth

3.931

6.173

7.892

 

 

 

 

Secured Loans

2.672

2.468

2.434

Unsecured Loans

1.797

1.890

6.324

Total borrowings

4.469

4.358

8.758

Debt/Equity ratio

1.137

0.706

1.110

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

(Actual)

31.03.2014

(Actual)

31.03.2015

(Projected)

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Income

62.991

69.014

143.342

 

 

9.562

107.700

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

(Actual)

31.03.2014

(Actual)

31.03.2015

(Projected)

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Income

62.991

69.014

143.342

Profit

0.710

0.890

1.450

 

1.13%

1.29%

1.01%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

No

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

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 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.63.40

UK Pound

1

Rs.98.94

Euro

1

Rs.70.33

 

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

NKT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--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

 

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

-

 

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.