MIRA INFORM REPORT

 

 

Report No. :

348811

Report Date :

09.11.2015

 

IDENTIFICATION DETAILS

 

Name :

SURE LOGISTIC CONTROL PRIVATE LIMITED

 

 

Registered Office :

Flat No. 2C/103, 1st Floor, Green Meadows, Lokhandwala Township, Kandivali(East), Mumbai – 400101, Maharashtra

Tel. No.:

91-22-32938766

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.10.2009

 

 

Com. Reg. No.:

11-196208

 

 

Capital Investment / Paid-up Capital :

Rs.2.544 Million

 

 

CIN No.:

[Company Identification No.]

U36949MH2009PTC196208

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading of cargo control equipments.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 14000

 

 

Status :

Small Company

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated on 5th October, 2009. It is a small company in its field. Its scale of activities are limited.

 

As on registrar of con1panies the date of balance sheets i.e. financials filed is shown as 31st March, 2015 but the documents related to the financials for the year 2015 are not available from any sources.

 

As per available financial of 2014, reserves of the company is low. Further, the rating also takes into consideration company's modest networth and small scale of operations.

 

However, trade relations are reported as fair. Business is active. Payments are reported to be slow but connect.

 

The company can be considered for business dealings with some caution.

 

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

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

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

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION DECLINED

 

MANAGEMENT NON CO-OPERATIVE (91-22-32938766)

 

 

LOCATIONS

 

Registered Office :

Flat No. 2C/103, 1st Floor, Green Meadows, Lokhandwala Township, Kandivali(East), Mumbai – 400101, Maharashtra, India

Tel. No.:

91-22-32938766

Fax No.:

Not Available

E-Mail :

ram@suregroup.in

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Deoratan Chandratan Singhi

Designation :

Director

Address :

2/C 103 Green Meadows, Lokhandwala Complex Kandivali East, Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

10.03.1945

Date of Appointment :

05.10.2009

DIN No.:

01164286

 

 

Name :

Mr. Ramratan Deoratan Singhi

Designation :

Director

Address :

1/A 204 Green Meadows, Lokhandwala Complex Kandivali East, Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

25.02.1974

Date of Appointment :

05.10.2009

DIN No.:

01164317

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Deoratan Singhi

 

5000

Ramratan Singh

 

5000

Strapping Solutions Private Limited, India

 

145000

King - Anie Consulting and Strategying Group Company Limited, Samoa

 

99350

Total

 

254350

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

96.06

Directors or relatives of Directors

3.94

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trading of cargo control equipments.

 

 

Products :

Cargo control equipments

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

Oriental Bank of Commerce Limited

Branch Address

Lokhandwala Township Branch, Whispering Palms, Shopping Centre, 1st Floor, Akurli Road, Kandivli (East), Mumbai - 400101,

Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

CC from OBC Bank

(Secured against Hypothecation of Stock & book-debts)

7.456

7.400

Total

7.456

7.400

 

Auditors :

 

Name :

Gupta Shyam and Company

Chartered Accountants

Address :

11 Sukhsagar Cooperative Housing Society Limited, Ground Floor, Akurli Road No. 1, Kandivali East, Mumbai – 400101, Maharashtra, India

Fax No.:

91-22-28870869

Email:

kapildhara@mtnl.net.in

PAN N Income-tax PAN of auditor or auditor's firm :

ACGPG0782P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises owned or Significantly influenced by any Management Personnel

or their relatives:
  • Sure Cargo Control Private Limited
  • Innovative Packaging
  • Strapping Solutions Private Limited
  • Symbiosis Strapping Private Limited

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs. 5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

254350

Equity Shares

Rs.10/- each

Rs. 2.544 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

2.544

2.544

2.544

(b) Reserves & Surplus

2.417

2.049

1.743

(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)

4.961

4.593

4.287

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.041

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

0.000

0.000

0.041

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

11.653

11.603

12.195

(b) Trade payables

2.496

2.531

2.232

(c) Other current liabilities

0.167

0.571

0.607

(d) Short-term provisions

0.174

0.121

0.000

Total Current Liabilities (4)

14.490

14.826

15.034

 

 

 

 

TOTAL

19.451

19.419

19.362

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1.883

2.192

2.483

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.315

0.801

1.476

(e) Other Non-current assets

0.024

0.047

0.071

Total Non-Current Assets

2.222

3.040

4.030

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

12.289

11.628

13.771

(c) Trade receivables

4.485

4.411

1.200

(d) Cash and cash equivalents

0.345

0.240

0.211

(e) Short-term loans and advances

0.110

0.100

0.150

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

17.229

16.379

15.332

 

 

 

 

TOTAL

19.451

19.419

19.362

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

23.555

24.044

25.587

 

Other Income

0.074

0.005

0.026

 

TOTAL (A)

23.629

24.049

25.613

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchase of trading goods

8.216

9.004

12.364

 

Cost of Raw materials consumed

8.193

9.966

7.211

 

Changes in inventories of finished goods, WIP and Trading Goods

(0.589)

(3.573)

(3.561)

 

Manufacturing Expenses

0.989

1.297

2.201

 

Employee benefit expense

2.150

1.758

2.222

 

Administrative, Selling & Other expenses

2.435

3.335

3.030

 

TOTAL (B)

21.394

21.787

23.467

 

 

 

 

 

Less

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

2.235

2.262

2.146

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

1.549

1.645

1.520

 

 

 

 

 

 

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

0.686

0.617

0.626

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

0.309

0.352

0.331

 

 

 

 

 

 

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

0.377

0.265

0.295

 

 

 

 

 

Less

TAX (H)

0.009

(0.041)

0.006

 

 

 

 

 

 

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

0.368

0.306

0.289

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.45

1.20

1.86

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.56

1.27

1.13

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

9.49

9.41

8.39

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.94

1.36

1.52

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.08

0.06

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.35

2.53

2.84

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.19

1.10

1.02

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

2.544

2.544

2.544

Reserves & Surplus

1.743

2.049

2.417

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

4.287

4.593

4.961

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

12.195

11.603

11.653

Total borrowings

12.195

11.603

11.653

Debt/Equity ratio

2.845

2.526

2.349

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

25.587

24.044

23.555

 

 

(6.030)

(2.034)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

25.587

24.044

23.555

Profit

0.289

0.306

0.368

 

1.13%

1.27%

1.56%

 

 

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

No

8

Designation of contact person

No

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

No

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

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 714, Autumn Grove Building, Lokhandwala Complex, Kandivali East, Mumbai -400101, Maharashtra, India to the present address w.e.f. 15.07.2015

 

OPERATIONS:

 

Company has earned profit before tax of Rs.0.376 Million in compare to previous year of Rs.0.266 Million on a decreased turnover of Rs. 23.600 Million from Rs.240 in last year.

 

The directors are hopeful to post better results in the coming years ahead.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

From Bodies Corporates

4.147

4.153

From directors & relatives

0.050

0.050

Total

4.197

4.203

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10230156

08/07/2011 *

7,500,000.00

ORIENTAL BANK OF COMMERCE

LOKHANDWALA TOWNSHIP BRANCH, WHISPERING PALMS,, S
HOPPING CENTRE, 1ST FLR, AKURLI RD, KANDIVALI (E),
MUMBAI, MAHARASHTRA - 400101, INDIA

B16088460

 

* Date of charge modification

 

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.65.79

UK Pound

1

Rs.99.95

Euro

1

Rs.71.55

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

2

--CREDIT LINES

1~10

3

--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

 

27

 

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.