IRA INFORM REPORT
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Report No. : |
326924 |
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Report Date : |
12.06.2015 |
IDENTIFICATION
DETAILS
|
Name : |
ALLCARGO LOGISTICS LIMITED |
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Registered
Office : |
6th Floor, The Avvashya House, CST Road, Kalina, Santacruz
(East), Mumbai - 400098, Maharashtra |
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Tel No.: |
91-22-66798100 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
18.08.1993 |
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Com. Reg. No.: |
11-073508 |
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Capital Investment
/ Paid-up Capital : |
Rs. 252.100 Million |
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CIN No.: [Company Identification
No.] |
L63010MH2004PLC073508 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Providing integrated logistics solutions and offers specialised logistics services across multimodal transport operations, inland container depot, container freight station operations, third party logistics operations and project and engineering solutions. |
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No. of Employees
: |
4015 (Approximately) |
RATING
& COMMENTS
|
MIRA’s Rating : |
A (64) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a well-established and reputed company having fine track
record. There seems drastic dip in the profit of the company during 2014.
However, general financial position of the company seems to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered good 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term rating: AA- |
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Rating Explanation |
High degree of safety and very low credit
risk. |
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Date |
26.02.2015 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating: A1+ |
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Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
26.02.2015 |
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 DECLINED BY
|
Name : |
Mr. Nitin Agarwal |
|
Designation : |
Finance Head |
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Contact No.: |
91-22-26675830 |
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Date: |
11.06.2015 |
LOCATIONS
|
Registered Office : |
6th Floor, The Avvashya House, CST Road, Kalina, Santacruz
(East), Mumbai - 400098, Maharashtra, India |
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Tel. No.: |
91-22-26675830/ 26675800 |
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Fax No.: |
91-22-66798195 |
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E-Mail : |
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Website : |
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Head Office : |
5th Floor, The Avvashya House, CST Road, Kalina, Santacruz
(East), Mumbai - 400098, Maharashtra, India |
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Tel. No.: |
91-22-66798100 |
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Fax No.: |
91-22-66798195 |
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Warehouses : |
Located at: · Mumbai - Bhiwandi · Goa · Indore · Hosur · Hyderabad · Nagpur |
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Container Freight
Stations / Inland Container Depot : |
Located at: · Mumbai · Raigad · Chennai · Kutch · Pithampur ·
Greater Noida |
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Branch Offices : |
Located at: · Mumbai · Baroda · Ahmedabad · Chennai · Cochin · Mormungoa · Jaipur · Jodhpur · Kanpur · Ludhiana · New Delhi · Tirupur · Tuticorin · Salem · Visakhapatnam · Uran · Raigad · Bangalore · Agra · Navi Mumbai · Coimbatore · Belgaum · Salcette · Dindigul · Greater Nodia · Hyderabad · Gurgaon · Gandhidham · Jarkhand. · Indora · Dhar · Kutch · Kolkata · Karur · Pune · Kathmandu [Nepal] · Nagpur ·
New Jersey [USA] |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Shashi Kiran Shetty |
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Designation : |
Chairman and Managing Director |
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Name : |
Mrs. Arathi Shetty |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Adarsh Hegde |
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Designation : |
Executive Director |
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Name : |
Mr. Umesh Shetty |
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Designation : |
Executive Director |
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Name : |
Mr. Akhilesh Gupta |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Kaiwan Kalyaniwalla |
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Designation : |
Non-Executive Independent Director |
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Name : |
Mr. Keki Elavia |
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Designation : |
Non-Executive Independent Director |
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Name : |
Mr. Mohinder Pal Bansal |
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Designation : |
Non-Executive Independent Director |
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Name : |
Mr. Hari Mundra |
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Designation : |
Non-Executive Independent Director |
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Name : |
Mr. Jayaram Ramachandran |
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Designation : |
Non-Executive Independent Director |
KEY
EXECUTIVES
|
Name : |
Mr. Shailesh Dholakia |
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Designation : |
Company Secretary and Compliance Officer |
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Name : |
Mr. Nitin Agarwal |
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Designation : |
Finance Head |
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Senior Management Team : |
· Mr. P. P. Shetty – HR Advisor · Mr. S. Suryanarayanan – Director Finance and Executive Director - Ecu-Line · Mr. Jatin Chokshi – Chief Financial Officer · Mr. Ajit Jangle – Group Chief Operating Officer · Mr. Mukundan K V – Chief Assurance and Risk Executive · Mr. Hrushikesh Joshi – Group Chief Information Officer · Mr. Kris De Witte – Executive Director – Ecu-Line · Mr. Marc Stoffelen – Executive Director – Ecu-Line · Mr. Deepal Shah – CEO - Hindustan Cargo · Mr. Armin Kalyaniwala – CEO - Project Division · Capt. Ashok Kumar Shrivastava - CEO - Shipping Division · Mr. Ajay Rao – President Strategy and BD (Warehousing and 3PL Division) · Mr. Tim Tudor – RCEO – South America, Mexico and Canada · Mr. Thomas Heydorn – RCEO – Central and Eastern Europe · Mr. Simon Bajada – RCEO – North and West Europe, Mediterranean · Ms. Shantha Martin – RCEO - India, ISC, Middle East and Africa (S and E) · Mr. Uday Shetty – RCEO - ASIAPAC · Mr. John Abisch – RCEO - USA, Caribbean and · Central America - Ecu-Line and Econocaribe ·
Mr. Pramod Kokate – Sr. Vice President CFS/ICD
(Sales and Marketing) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter Group |
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|
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|
84320899 |
66.90 |
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|
3813125 |
3.03 |
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|
3813125 |
3.03 |
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|
88134024 |
69.92 |
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Total shareholding of Promoter and Promoter Group (A) |
88134024 |
69.92 |
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(B) Public Shareholding |
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|
323 |
0.00 |
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|
6849 |
0.01 |
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|
7375510 |
5.85 |
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|
7382682 |
5.86 |
|
|
|
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|
1592719 |
1.26 |
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|
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|
2961100 |
2.35 |
|
|
1086704 |
0.86 |
|
|
24890533 |
19.75 |
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|
69287 |
0.05 |
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|
144973 |
0.12 |
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|
16403868 |
13.01 |
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|
5000 |
0.00 |
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|
30435 |
0.02 |
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|
5000 |
0.00 |
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|
8231970 |
6.53 |
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|
30531056 |
24.22 |
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Total Public shareholding (B) |
37913738 |
30.08 |
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Total (A)+(B) |
126047762 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
126047762 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Providing integrated logistics solutions and offers specialised logistics services across multimodal transport operations, inland container depot, container freight station operations, third party logistics operations and project and engineering solutions. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
4015 (Approximately) |
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Bankers : |
· Axis Bank Limited · Citibank NA · DBS Bank Limited · HDFC Bank Limited · Hongkong and Shanghai Banking · Corporation Limited · ING Vysya Bank Limited · Standard Chartered Bank · State Bank of India ·
Yes Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors 1 : |
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Name : |
Appan and Lokhandwala Associates Chartered Accountants |
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Address : |
402, Shiv-Ahish, Plot No.10, 19th Road, Chembur, Mumbai -
400071, Maharashtra, India |
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Auditors 2 : |
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Name : |
B S R and Company LLP Chartered Accountants |
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Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N M Joshi
Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
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Internal Auditor : |
Mr. Mukundan K V |
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Solicitors and
Legal Advisors : |
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Name : |
Maneksha and Sethna Solicitors, Advocates and Notary |
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Address : |
8, Ambalal Doshi Marg, Hamam Street, Fort, Mumbai – 400023, Maharashtra, India |
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Subsidiaries (AS
ON 31.03.2014): |
· Hindustan Cargo Limited · HC Logistics Limited · Credo Shipping Agencies (I) Private Limited · Contech Transport Services Private Limited · Comptech Solutions Private Limited · Amfin Consulting Private Limited · Ecu Line (India) Private Limited · Allcargo Shipping Co. Private Limited · South Asia Terminals Private Limited · Southern Terminals and Trading Private Limited · AGL Warehousing Private Limited · Allcargo Logistic Park Private Limited · Transindia Logistic Park Private Limited · ECU International (Asia) Private Limited · Combiline Indian Agencies Private Limited · Ecu-Line Algerie sarl · Ecu Logistics SA · Ecu-Line N.V. · Ecu-Logistics N.V. · Ecubro N.V. · Ecu-Tech BVBA · Ecuhold N.V. · Ecu International N.V. · Ecu Global Services N.V. · HCL Logistics N.V. · AGL N.V. · Allcargo Belgium N.V. · Ecu Logistics do Brasil Ltda · Flamingo Line do Brasil Ltda · Ecu-Line Bulgaria EOOD · Ecu-Line Chile S.A. · Flamingo Line Chile S.A. · Ecu-Line Guangzhou Limited · China Consolidation Services Shipping Limited · Ecu-Line (CZ) s.r.o. · Ecu-Line del Ecuador S.A. · Flamingo Line del Ecuador SA · Ecu Line Egypt Limited. · Flamingo Line El Salvador SA de CV · Ecu-Line Germany GmbH · ELWA Ghana Limited · Flamingo Line de Guatemala S.A. · Ecu-Line Hong Kong Limited · Ecu International Far East Limited · CCS China Consolidation Services Company Limited · PT EKA Consol Utama Line · Ecu-Line Italia srl. · Eurocentre Milan srl. · Ecu-Line Côte d'Ivoire Sarl · Jordan Gulf for Freight Services Agencies Co. LLC · Ecu-Line Malta Limited. · CELM Logistics SA de CV · Ecu Logistics de Mexico SA de CV · Ecu-Line Maroc S.A. · Ecu-Line Rotterdam BV · Rotterdam Freight Station BV · Ecu-Line de Panama S.A. · Ecu-Line Paraguay S.A. · Ecu-Line Philippines Inc. · Ecu-Line Polska SP. Z.o.o. · Ecu-Line Doha W.L.L. · Ecu-Line Romania SRL · Ecu-Line Singapore Pte. Limited · Ecu-Line South Africa (Pty.) Limited · Ecu-Line Spain S.L. · Mediterranean Cargo Center S.L. (MCC) · Ecu Line Lanka Private Limited · Société Ecu-Line Tunisie Sarl · Ecu Uluslarasi Tas. Ve Ticaret Ltd Sti. · China Consolidated Company Limited · Star Express Company Limited · Ecu-Line UK Limited · DEOLIX S.A. · DLC · Guldary S.A. · ELV Multimodal C.A. · Administradora House Line C.A. · aEcu-Line (Indian Ocean Islands) Limited · Asia Line Limited · Consolidadora Ecu- Line C.A · Ecu Shipping Logistics (K) Limited · Ecu-Line Middle East LLC · Ecu-Line (Johor Bahru) Snd. Bhd. · Eurocentre FZCO · Ecu-Line Kenya Limited · Ecu-Line Abu Dhabi LLC · CCS Shipping Limited · Flamingo Line del Peru S.A. · Ecu-Line Peru S.A. · Ecu-Line Saudi Arabia LLC · Ecu-Line Zimbabwe Private Limited · Ecu-Line Japan Limited · S.H.E. Maritime Services Limited · Translogistik Internationale Spedition GmbH · Ecu-Line Australia Pty Limited · Ecu-Line NZ Limited. · Ecu-Line (Thailand) Co. Limited · Ecu-Line Mediterranean Limited · China Consolidation Services Limited · Ecu-Line Switzerland GmbH · Ecu-Line Canada Inc · Cargo Freight Stations, S.A. · Ocean House Limited. · Ecu-Line de Colombia S.A · Conecli International S.A. · European Customs Broker NV · Ecu-Line Vietnam Co. Limited · Econocaribe Consolidators, Inc · OTI Cargo Inc · Port International Inc · Ecoline Storage Corp · ECI Customs Brokerage, Inc · Integrity Enterprises Pty Limited · PRISM Global, LLC · FCL Marine Agencies B.V. |
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Associates (AS
ON 31.03.2014): |
· Transworld Logistics and Shipping Services Inc. (ceased to be an Associate w.e.f August 15, 2013) · Sealand Warehousing Private Limited (ceased to be Associate w.e.f November 29, 2013) · Gujarat Integrated Maritime Complex Private Limited (ceased to be Associate w.e.f November 29, 2013) |
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Joint
Ventures(AS ON 31.03.2014): |
Transnepal Freight Services Private Limited |
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Entities over
which key managerial personnel or their relatives exercises significant
influence(AS ON 31.03.2014): |
· Allcargo Movers (Bombay) Private Limited · Allcargo Shipping Services Private Limited · Allnet Infotech Private Limited · Alltrans Logistics Private Limited · Alltrans Port Management Private Limited · Avadh Marketing LLP · Avash Builders And Infrastructure Private Limited · Avashya Corporation Private Limited · FTL (India) Private Limited (formerly known as Avashya Enterprises Private Limited) · Avashya Holdings Private Limited · Contech Estate LLP · Indport Maritime Agencies Private Limited. · Jupiter Precious Gems and Jewellery Private Limited (formerly Jupiter Machines Private Limited) · N.R. Holdings Private Limited · Poorn Estates Private Limited · Prominent Estate Holdings Private Limited · Sealand Crane Private Limited · SKS Netgate LLP · SKS Realty LLP · SKS Ventures Private Limited · Talentos (India) Private Limited · Talentos Entertainment Private Limited · Transindia Freight Private Limited · Transindia Freight Services Private Limited · Sealand Holdings Private Limited · Meridien Tradeplace Private Limited · Poorn Buildcon Pvt. Limited · Panna Estates LLP · Black Soil Realty Investment advisors LLP · Container Freight Station Associations of India (upto 13 January 2014) · Panna Infracon Projects LLP |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
177,475,000 |
Equity Shares |
Rs. 2/- each |
Rs. 355.000 Million |
|
500 |
4% Cumulative Preference Shares |
Rs. 100/- each |
Rs. 0.100 Million |
|
|
|
|
|
|
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Total |
|
Rs. 355.100
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
126,047,762 |
Equity Shares |
Rs. 2/- each |
Rs. 252.100 Million |
|
|
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SUB-NOTES:
i) Reconciliation
of the number of equity shares outstanding at the beginning and at the yearend
is set as below:
|
Equity shares |
March 31, 2014 |
|
|
|
Number of shares (units) |
Amount in Million |
|
At the commencement of the year |
126,410,873 |
252.800 |
|
Add: Equity shares issued on exercise of employee stock options (`
20,760) |
10,380 |
-- |
|
Less: Equity shares held by merged entity cancelled |
(373,491) |
(0.700) |
|
Less: Shares cancelled on buyback of equity shares |
-- |
-- |
|
At the end of
the year |
126,047,762 |
252.100 |
ii) Rights,
preferences and restrictions attached to equity shares
The Company has a single class of equity shares. Accordingly, all equity
shares rank equally with regard to dividends and share in the Company’s
residual assets. The equity shares are entitled to receive dividend as declared
from time to time. During the year ended March 31, 2014, the Company has
proposed final dividend of
` 1.50 per equity share (previous year: dividend of ` 1.50 per equity
share). The voting rights of an equity shareholder on a poll (not on show of
hands) are in proportion to its share of the paid-up equity capital of the
Company.
On winding up of the Company, the holders of equity shares will be
entitled to receive the residual assets of the Company, remaining after
distribution of all preferential amounts in proportion to the number of equity
shares held.
iii) Particulars
of shareholders holding more than 5% of a class of shares
|
Name of Equity
Shareholder |
March 31, 2014 |
|
|
|
Number |
% of total shares in the class |
|
Equity shares of Rs. 2 each fully paid-up held by : |
|
|
|
- Mr. Shashi Kiran Shetty |
81,623,390 |
64.76 |
iv) Shares
reserved for issue under options and contracts/ commitments for sale of
shares/disinvestment
|
|
March 31, 2014 |
|
|
|
Number of shares (units) |
Amount in Million |
|
Under Allcargo Employee Stock Option Plan 2006 ( at an exercise price
of Rs. 2 per equity share) (2014: Nil; previous year: Rs. 60,000) |
-- |
-- |
v) Aggregate
number of bonus shares issued, shares issued for consideration other than cash
and shares bought back during the period of five years immediately preceding
the reporting date:
During the
five-year period ended March 31, 2014 (March 31, 2013)
a)
17,302 (previous year: 19,767) equity shares of Rs.
2 each, fully paid up have been allotted as bonus shares by capitalisation of
general reserve and securities premium account.
b)
86,265 (previous year: 91,850) equity shares of Rs.
2 each under Employee Stock Option Plan for which only exercise price has been
recovered in cash.
c)
During the previous year, the Company has bought
back and extinguished 4,136,449 equity shares at an average price of Rs. 139.69
per equity share for an aggregate amount of Rs. 581.700 Million.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
252.100 |
252.100 |
252.800 |
|
(b) Reserves & Surplus |
12550.400 |
11906.600 |
11498.600 |
|
(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) |
12802.500 |
12158.700 |
11751.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1940.300 |
1696.300 |
2082.900 |
|
(b) Deferred tax liabilities
(Net) |
1118.900 |
1088.900 |
975.600 |
|
(c) Other long term
liabilities |
20.800 |
20.500 |
22.000 |
|
(d) long-term provisions |
42.300 |
41.200 |
33.300 |
|
Total
Non-current Liabilities (3) |
3122.300 |
2846.900 |
3113.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
328.400 |
156.700 |
350.300 |
|
(b) Trade payables |
1102.200 |
976.200 |
884.300 |
|
(c) Other current liabilities |
871.200 |
2901.700 |
3542.400 |
|
(d) Short-term provisions |
258.800 |
257.500 |
333.200 |
|
Total
Current Liabilities (4) |
2560.600 |
4292.100 |
5110.200 |
|
|
|
|
|
|
TOTAL |
18485.400 |
19297.700 |
19975.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8810.900 |
9697.900 |
9801.600 |
|
(ii) Intangible Assets |
|
40.300 |
30.600 |
|
(iii) Capital work-in-progress |
|
66.400 |
112.800 |
|
(iv) Intangible assets under
development |
|
2.900 |
15.500 |
|
(b) Non-current Investments |
3768.400 |
3487.400 |
3996.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2606.300 |
2204.700 |
2362.800 |
|
(e) Other Non-current assets |
17.200 |
4.100 |
21.500 |
|
Total
Non-Current Assets |
15202.800 |
15503.700 |
16340.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
30.200 |
1197.900 |
901.500 |
|
(b) Inventories |
87.600 |
88.900 |
89.700 |
|
(c) Trade receivables |
1682.600 |
1586.400 |
1496.600 |
|
(d) Cash and cash equivalents |
203.400 |
99.900 |
96.000 |
|
(e) Short-term loans and
advances |
708.400 |
496.900 |
541.800 |
|
(f) Other current assets |
570.400 |
324.000 |
508.900 |
|
Total
Current Assets |
3282.600 |
3794.000 |
3634.500 |
|
|
|
|
|
|
TOTAL |
18485.400 |
19297.700 |
19975.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
11376.500 |
9890.100 |
10180.900 |
|
|
|
Other Income |
415.600 |
330.300 |
642.600 |
|
|
|
TOTAL (A) |
11792.100 |
10220.400 |
10823.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating expense |
7401.100 |
-- |
-- |
|
|
|
Employees benefits expense |
831.900 |
716.400 |
767.300 |
|
|
|
Other expenses |
778.200 |
7166.900 |
7339.100 |
|
|
|
Provisional for doubtful debts |
37.500 |
-- |
-- |
|
|
|
TOTAL (B) |
9048.700 |
7883.300 |
8106.400 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2743.400 |
2337.100 |
2717.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
380.000 |
286.300 |
266.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2363.400 |
2050.800 |
2450.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1108.600 |
1347.500 |
1167.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1254.800 |
703.300 |
1282.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
279.900 |
142.100 |
127.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
974.900 |
561.200 |
1155.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Revenue from export
operations - Multi-modal transport operations |
NA |
709.700 |
787.200 |
|
|
|
- Project and engineering solutions |
NA |
77.800 |
187.100 |
|
|
|
- Third party logistics |
NA |
0.000 |
2.900 |
|
|
|
Other income - Business support charges |
NA |
82.200 |
49.300 |
|
|
|
- Management Fees |
NA |
12.300 |
10.500 |
|
|
|
- Corporate Guarantee Commission/ SBLC
charges |
NA |
82.800 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
964.800 |
1037.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
80.700 |
257.300 |
|
|
|
Stores & Spare Parts |
NA |
17.000 |
9.500 |
|
|
TOTAL IMPORTS |
NA |
97.700 |
266.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.70 |
4.50 |
9.00 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
8.57 |
5.67 |
11.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
24.11 |
23.63 |
26.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.53 |
4.47 |
8.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.06 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.18 |
0.15 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
0.88 |
0.71 |
STOCK
PRICES
|
Face Value |
Rs.2/- |
|
Market Value |
Rs.319.45/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
252.800 |
252.100 |
252.100 |
|
Reserves & Surplus |
11498.600 |
11906.600 |
12550.400 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
11751.400 |
12158.700 |
12802.500 |
|
|
|
|
|
|
long-term borrowings |
2082.900 |
1696.300 |
1940.300 |
|
Short term borrowings |
350.300 |
156.700 |
328.400 |
|
Total
borrowings |
2433.200 |
1853.000 |
2268.700 |
|
Debt/Equity
ratio |
0.207 |
0.152 |
0.177 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
10180.900 |
9890.100 |
11376.500 |
|
|
|
(2.856) |
15.029 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
10180.900 |
9890.100 |
11376.500 |
|
Profit |
1155.500 |
561.200 |
974.900 |
|
|
11.35% |
5.67% |
8.57% |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
12/12/2014 |
||||||
|
Lodging No.:- |
SSL/1218/2014 |
Filing Date:- |
12/12/2014 |
|
|||
|
Petitioner:- |
CREDENCE LOGISTICS LIMITED |
|
Respondent:- |
ALLCARGO LOGISTICS LIMITED |
|
|||||||||||||||||||
|
|
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10544227 |
26/12/2014 |
720,000,000.00 |
BNP PARIBAS |
EAST TOWERS
(SOOD TOWERS), 8TH FLOOR, 25, BHARAKH |
C40987356 |
|
2 |
10523696 |
11/09/2014 |
770,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C25480559 |
|
3 |
10522345 |
05/09/2014 |
1,600,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C22888622 |
|
4 |
10478472 |
13/06/2014 * |
750,000,000.00 |
DBS BANK LTD |
221, FORT HOUSE,
3RD FLOOR, D.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C09821901 |
|
5 |
10470934 |
29/01/2014 * |
2,275,000,000.00 |
AXIS TRUSTEE
SERVICES LIMITED |
AXIS HOUSE, 2ND FLR,
BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B97252449 |
|
6 |
10467053 |
21/03/2014 * |
750,000,000.00 |
STANDARD
CHARTERED BANK |
CRESENZO, 3 A/F,
PLOT NO. C -38 & 39, G BLOCK, BANDRA KURLA COMPLEX, MUMBAI, MAHARASHTRA -
400051, INDIA |
C00436394 |
|
7 |
10440699 |
31/07/2013 |
3,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B81171324 |
|
8 |
10435201 |
28/06/2013 |
7,515,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B78908258 |
|
9 |
10435626 |
11/04/2014 * |
1,000,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH - ANDHERI, 102, NATRAJ, 194, SIR M.V. ROAD, ANDHERI EAST,,
MUMBAI, MAHARASHTRA - 400069, INDIA |
C03814878 |
|
10 |
10416330 |
05/02/2013 |
3,228,232.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B72174832 |
|
11 |
10396322 |
15/12/2012 |
14,926,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B65655987 |
|
12 |
10390628 |
01/12/2012 |
25,500,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B63595961 |
|
13 |
10391723 |
29/11/2012 |
15,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B64031743 |
|
14 |
10386229 |
08/11/2012 |
7,032,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B62006259 |
|
15 |
10383716 |
25/10/2012 |
16,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B61001756 |
|
16 |
10383714 |
18/10/2012 |
2,755,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B61001012 |
|
17 |
10382571 |
12/10/2012 |
500,000,000.00 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMI |
52/60, MAHATMA GANDHI
ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B60477718 |
|
18 |
10383720 |
08/10/2012 |
10,692,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B61002242 |
|
19 |
10378737 |
31/08/2012 |
12,474,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B58978321 |
|
20 |
10378735 |
30/08/2012 |
3,210,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B58978156 |
|
21 |
10367485 |
30/06/2012 |
22,540,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B44502417 |
|
22 |
10367484 |
08/06/2012 |
4,810,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B44502342 |
|
23 |
10366009 |
25/05/2012 |
9,161,280.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B43890995 |
|
24 |
10336693 |
04/02/2012 |
15,100,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B32601791 |
|
25 |
10336690 |
03/02/2012 |
15,100,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B32601098 |
|
26 |
10333142 |
13/01/2012 |
350,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND
FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI,
MAHARASHTRA |
B31062912 |
|
27 |
10325677 |
18/08/2014 * |
755,000,000.00 |
ING VYSYA BANK
LIMITED |
NARIAN MANZIL,
GROUND FLOOR, SHOP NO. G1 TO G5, I FLOOR, SHOP NO.1001 TO 1007,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
C20714580 |
|
28 |
10314863 |
12/10/2011 |
8,060,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B24186587 |
|
29 |
10307580 |
09/09/2011 |
15,700,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B21138698 |
|
30 |
10303040 |
22/07/2011 |
32,580,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B19129600 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and
advances Rupee term loan |
|
0.000 |
|
Bills discounting |
|
50.000 |
|
|
|
|
|
Total |
NA |
50.000 |
COMPANY OVERVIEW
(AS ON 31.03.2014)
Subject was incorporated on 18 August 1993 and is a leading multinational
company engaged in providing integrated logistics solutions and offers
specialised logistics services across Multimodal Transport Operations, Inland
Container Depot, Container Freight Station Operations, Third Party Logistics
Operations and Project and Engineering Solutions. The Company is listed on
Bombay Stock Exchange Limited and National Stock Exchange of India Limited.
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Building
· Leasehold Improvements
· Plant and Machinery
· Heavy equipments
· Other Vehicles
· Computers
· Office Equipment
· Furniture and Fixtures
· Goodwill on Merger
· Software Packages
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 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. 63.89 |
|
|
1 |
Rs. 98.90 |
|
Euro |
1 |
Rs. 72.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.