MIRA INFORM REPORT
|
Report No. : |
344799 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA LOGISTICS LIMITED |
|
|
|
|
Registered
Office : |
Mahindra Towers, P. K. Kume Chowk, Worli, Mumbai – 400018, Maharashtra |
|
Tel. No.: |
91-22-28715500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-173466 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 590.604 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63000MH2007PLC173466 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM33771D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM2530H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of transportation, 3PL services such as warehousing,
cargo logistics, supply chain solution, people logistics and trading of
goods. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an 88.60 % subsidiary of Mahindra & Mahindra Limited. It is a third party logistics (3PL) provider operating primarily in two segments namely, Supply Chain Management (SCM) and Mahindra People Transport Solutions (MPTS). It was incorporated in the year 2007 and having fine track. The rating takes into account the strong financial risk profile of the company marked by robust profitability, debt free capital structure and healthy free cash flows generated by the company. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitments. In view of strong parent holding along with decent financials condition the company can be considered for normal business dealings with 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term, Fund Based Limits=AA |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
November, 2014 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term, Non-Fund Based Limits=A1+ |
|
Rating Explanation |
Very Strong degree of safety and carry
lowest credit risk |
|
Date |
November, 2014 |
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-COOPERATIVE
(Contact No: 91-22-28715500/ 28716800/ 24901441)
LOCATIONS
|
Registered Office : |
Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-28715500 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
1A and 1B, 4th Floor, Techniplex 1,
Techniplex Complex, Veer Savarkar Flyover, Goregaon West, Mumbai-400062,
Maharashtra, India |
|
Tel. No.: |
91-22-28716800 |
|
E-Mail : |
|
|
|
|
|
Regional Offices : |
Located at: • Ahmedabad • Bangalore • Chennai • Cochin • Delhi • Hyderabad • Jaipur • Kolkata (PTS) • Kolkata (SCM) • Mumbai (SCM) • Patna • Pune |
DIRECTORS
AS ON 25.07.2014
|
Name : |
Mr. Chandrasekar Kandasamy |
|
Designation : |
Director |
|
Address : |
DII/53 Mahindra Park LBS Marg, Ghatkopar, Mumbai-400086, Maharashtra,
India |
|
Date of Birth/Age : |
08.01.1954 |
|
Qualification : |
M.A.,
Certificate Course in Banking and Financial Services (CAIIB) |
|
Date of Appointment : |
03.10.2007 |
|
DIN No.: |
01084215 |
|
|
|
|
Name : |
Mr. Ruzbeh Baman Irani |
|
Designation : |
Director |
|
Address : |
5, Kismet Westfield Compound Lane, Opposite Bhulabhai Desai Road,
Mumbai- 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1963 |
|
Qualification : |
B.Com.
and MMS. |
|
Date of Appointment : |
03.10.2007 |
|
DIN No.: |
01831944 |
|
|
|
|
Name : |
Mr. Zhooben Dosabhoy Bhiwandiwala |
|
Designation : |
Director |
|
Address : |
S-13, Cusrow Baug, Shahid Bhagat Singh Road, Colaba, Mumbai-400039,
Maharashtra, India |
|
Date of Birth/Age : |
09.12.1959 |
|
Qualification : |
B.Com
and A.C.A. |
|
Date of Appointment : |
28.04.2009 |
|
DIN No.: |
00110373 |
|
|
|
|
Name : |
Mr. Anjani Kumar Ramshankar Choudhari |
|
Designation : |
Director |
|
Address : |
401, Fairwinds, Dattatray Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
22.04.1944 |
|
Qualification : |
B.A. Masters in
Management Study from the Jamnalal Bajaj Institute of Management Studies. |
|
Date of Appointment : |
28.04.2009 |
|
DIN No.: |
00234208 |
|
|
|
|
Name : |
Mr. Parag Chandulal Shah |
|
Designation : |
Director |
|
Address : |
7 Kailas, 50 Pedder Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
29.11.1975 |
|
Qualification : |
B S Degree in Computer
Engineering from Illinois Institute of Technology, Graduate of Management
Programme, Harvard Business School. |
|
Date of Appointment : |
28.04.2009 |
|
DIN No.: |
00374944 |
|
|
|
|
Name : |
Mr. Sanjeev Aga |
|
Designation : |
Director |
|
Address : |
9th Floor, NAV Sonarbala Annexe, Turner Road, Bandra (West), Mumbai-
400050, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1952 |
|
Qualification : |
Business
Management MBA Indian Institute of Management, Calcutta |
|
Date of Appointment : |
19.03.2014 |
|
DIN No.: |
00022065 |
|
|
|
|
Name : |
Mr. Sunish Sharma |
|
Designation : |
Director |
|
Address : |
Flat No. 1902, 19th Floor, The Imperial,, South Tower, BB Nakashe
Marg,, Mumbai-400034, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1974 |
|
Qualification : |
MBA
(IIM Calcutta), ICWA (Institute of Cost and Work Accountants of India) and B.Com
Hons (Delhi Universty) |
|
Date of Appointment : |
19.03.2014 |
|
DIN No.: |
00274432 |
KEY EXECUTIVES
|
Name : |
Mr. Pirojshaw Aspi Sarkari |
|
Designation : |
Chief Executive Officer |
|
Address : |
501 A , Lokhandwala Residency, Manjerkar Lane, Off
E-Mossess Road, Worli, Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
28.06.1966 |
|
Date of Appointment : |
25.07.2014 |
|
PAN No.: |
AAOPS8565Q |
|
|
|
|
Name : |
Mr. Vilas Vasant Chaubal |
|
Designation : |
Secretary |
|
Address : |
302, Laburnum, Mahindra Garden, S.V. Road, Goregaon
(West), Mumbai- 400062, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1956 |
|
Date of Appointment : |
25.07.2014 |
|
PAN No.: |
ACTPC8238P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mahindra and Mahindra Limited, India |
|
53906117 |
|
Mahindra and Mahindra Limited jointly with
Zhooben Bhiwandiwala |
|
1 |
|
Mahindra and Mahindra Limited jointly with
Chandrasekar K. |
|
1 |
|
Mahindra and Mahindra Limited jointly with
Parag Shah |
|
1 |
|
Mahindra and Mahindra Limited jointly with
Ruzbeh Irani |
|
1 |
|
Mahindra and Mahindra Limited jointly with
Narayan Shankar |
|
1 |
|
Mahindra and Mahindra Limited jointly with
S. V. Rao |
|
1 |
|
Mahindra Engineering and Chemical Products
Limited, India |
|
100 |
|
Mahindra Partners Employee Options Trust |
|
2029790 |
|
Normandy Holdings Limited, India |
|
4705879 |
|
Kedaara Capital Alternative Investment
Fund-Kedaara Capital AIF 1 |
|
200491 |
|
Total |
|
60842383 |
AS ON 09.03.2015
|
Names of Allottee |
|
No. of Shares |
|
Mahindra Partners Employee Trust |
|
407743 |
|
Total |
|
407743 |
AS ON 25.07.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
Total |
|
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of transportation, 3PL services such as warehousing,
cargo logistics, supply chain solution, people logistics and trading of
goods. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
Information declined by the Management |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
B.
K. Khare and Company Chartered Accountants |
|
Address : |
Mumbai,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB0265E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Mahindra
and Mahindra Limited, India (L65990MH1945PLC004558) |
|
|
|
|
Subsidiary Company : |
2
X 2 Logistics Private Limited`, India (U63000MH2012PTC237062) |
|
|
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|
Fellow Subsidiaries : |
·
Mahindra Gujarat Tractors Limited ·
Mahindra Holidays and Resorts India Limited ·
Defence Land Systems India Private Limited
(Formerly Mahindra Defence Land Systems Private Limited) ·
Mahindra Gears and Transmissions Private
Limited ·
Mahindra Ugine Steel Company Limited ·
Mahindra Intertrade Limited ·
Mahindra Steel Service Centre Limited ·
Mahindra Forgings Limited (upto 30th Sept
2013) ·
Mahindra Heavy Engines Private Limited
(Formerly Mahindra Navistar Engines Private Limited) ·
Mahindra Retail Private Limited ·
Mahindra Vehicle Manufacturers Limited
(Formerly Mahindra Automotive Limited) ·
Mahindra Trucks & Buses Limited
(Formerly Mahindra Navistar Automotives Limited) ·
Mahindra Two Wheelers Limited ·
EPC Industrie Limited ·
Mahindra Conveyor Systems Private Limited ·
Mahindra First Choice Services Limited ·
Mahindra Integrated Business Solutions
Private Limited (Formerly Mahindra BPO Services Private Limited) ·
Mahindra Hinoday Industries Limited (upto
30th Sept 2013) ·
Mahindra EPC Services Private Limited ·
Mahindra Reva Electric Vehicles Private
Limited ·
Mahindra Sanyo Special Steel Private
Limited (Formerly Navyug Special Steel Private Limited) ·
Mahindra Engineering and Chemical Products
Limited ·
Mahindra Sona Limited ·
Mahindra Shubhlabh Services Limited ·
Mahindra Defence System Limited |
CAPITAL STRUCTURE
AFTER 25.07.2014
Authorised Capital : Rs. 1050.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 1007.080 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 640.000 Million |
|
8,200,000 |
Preference Shares |
Rs. 50/- each |
Rs. 410.000 Million |
|
|
Total |
|
Rs. 1050.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,842,383 |
Equity Shares |
Rs. 10/- each |
Rs. 608.424
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58812593 |
Equity Shares (Fully Paid) |
Rs. 10/- each |
Rs. 588.126
Million |
|
448517 |
Equity Shares (Subscribed but not Fully Paid) |
Rs. 2/- each |
Rs. 0.897
Million |
|
1581273 |
Equity Shares (Subscribed but not Fully Paid) |
Re. 1/- each |
Rs. 1.581
Million |
|
Total |
|
|
Rs. 590.604 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 |
590.604 |
577.000 |
577.000 |
|
(b) Reserves & Surplus |
653.254 |
282.466 |
38.098 |
|
(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) |
1243.858 |
859.466 |
615.098 |
|
|
|
|
|
|
(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 |
20.343 |
24.887 |
0.000 |
|
(d)
long-term provisions |
61.531 |
47.252 |
32.639 |
|
Total
Non-current Liabilities (3) |
81.874 |
72.139 |
32.639 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
56.750 |
|
(b)
Trade payables |
1887.825 |
1582.686 |
1219.203 |
|
(c)
Other current liabilities |
122.463 |
78.719 |
41.333 |
|
(d)
Short-term provisions |
386.917 |
187.303 |
69.741 |
|
Total
Current Liabilities (4) |
2397.205 |
1848.708 |
1387.027 |
|
|
|
|
|
|
TOTAL |
3722.937 |
2780.313 |
2034.764 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
143.966 |
83.846 |
66.384 |
|
(ii)
Intangible Assets |
12.802 |
17.373 |
19.814 |
|
(iii)
Capital work-in-progress |
1.774 |
3.661 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.216 |
0.219 |
0.135 |
|
(c) Deferred tax assets
(net) |
52.434 |
33.585 |
36.070 |
|
(d) Long-term Loan and
Advances |
96.817 |
55.435 |
20.128 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
308.009 |
194.119 |
142.531 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.019 |
0.016 |
0.000 |
|
(b)
Inventories |
15.112 |
0.000 |
0.000 |
|
(c)
Trade receivables |
1530.439 |
1283.733 |
1275.860 |
|
(d)
Cash and cash equivalents |
871.070 |
406.980 |
4.163 |
|
(e)
Short-term loans and advances |
969.288 |
874.942 |
593.105 |
|
(f)
Other current assets |
29.000 |
20.523 |
19.105 |
|
Total
Current Assets |
3414.928 |
2586.194 |
1892.233 |
|
|
|
|
|
|
TOTAL |
3722.937 |
2780.313 |
2034.764 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
17503.367 |
15320.215 |
13865.091 |
|
|
|
Other Income |
62.742 |
34.654 |
20.222 |
|
|
|
TOTAL (A) |
17566.109 |
15354.869 |
13885.313 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
27.048 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(15.112) |
0.000 |
0.000 |
|
|
|
Employees benefits expense |
882.009 |
687.672 |
567.714 |
|
|
|
Other expenses |
16096.547 |
14267.894 |
13047.510 |
|
|
|
TOTAL (B) |
16990.492 |
14955.566 |
13615.224 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
575.617 |
399.303 |
270.089 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.548 |
6.959 |
42.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
575.069 |
392.344 |
227.165 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.639 |
30.546 |
64.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
543.430 |
361.798 |
162.926 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
176.992 |
117.430 |
54.856 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
366.438 |
244.368 |
108.070 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
282.466 |
38.098 |
(69.972) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
648.904 |
282.466 |
38.098 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.598 |
4.729 |
0.000 |
|
|
TOTAL EARNINGS |
3.598 |
4.729 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
6.33 |
4.24 |
1.87 |
|
|
|
Diluted |
5.83 |
4.03 |
1.87 |
|
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 Flow from (used in) Operations |
596.862 |
568.973 |
347.010 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.09 |
1.60 |
0.78 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.29 |
2.61 |
1.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.81 |
13.19 |
8.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44 |
0.42 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42 |
1.40 |
1.36 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
577.000 |
577.000 |
590.604 |
|
Reserves & Surplus |
38.098 |
282.466 |
653.254 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
615.098 |
859.466 |
1243.858 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
56.750 |
0.000 |
0.000 |
|
Total
borrowings |
56.750 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.092 |
0.000 |
0.000 |
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 |
13865.091 |
15320.215 |
17503.367 |
|
|
|
10.495 |
14.250 |
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 |
13865.091 |
15320.215 |
17503.367 |
|
Profit |
108.070 |
244.368 |
366.438 |
|
|
0.78% |
1.60% |
2.09% |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10265693 |
18/01/2011 |
80,000,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
GOREGAON (EAST) BRANCH,
SHOP NO.6,, ONKAR, SHIRDH |
B04594453 |
|
2 |
10128274 |
09/03/2012 * |
450,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B35823871 |
* Date of charge modification
CORPORATE INFORMATION
Mahindra Logistics Limited
is a public limited company incorporated on 24th August, 2007 under the Companies
Act, 1956. The Company?s main activities are transportation, 3PL services such
as warehousing, cargo logistics, supply chain solution, people logistics and
trading of goods.
OPERATIONS
Although the economic environment
remained sluggish during the year, the company made progress on all the
parameters including acquiring new third party customers particularly under its
Supply Chain vertical. The company continues to enjoy its leadership position
in the automotive logistics domain in India. The company remains the largest
corporate player in India in its People Transport Solutions business.
The Company continues to
operate in two broad business segments, namely Supply Chain Management (?SCM?)
and People Transport Solutions (?PTS?). During the later part of the year, the
company has also commenced product distribution services as a value added
service to one of its newly acquired customer.
The Company continues to
maintain a strategic focus on improving operational efficiency as well as cost
efficiency throughout the organization which has resulted in improved margins
for both the business segments compared toearlier year. Information technology
continues to remain key focus area to allow the company to maintain its strong
competitive position. The companyhas also diversified its industry vertical
focus beyond automotive logistics to segments such as consumer goods,
e-commerce, agri logistics and retail, amongst others. The company has also
been actively marketing its value proposition to a diverse mix of customers and
developing service competence to meet such customers? demands. The company
continues on the path to becoming India?s leading, most preferred, integrated
logistics service provider.
AWARDS AND RECOGNITION
The Company?s commitment
and efforts towards excellence in logistics are significantly reflected in the
numerous accolades it has received. Some of the recent recognitions include
prestigious awards such as the ?Best 3PL Company of the Year 2013? at the 7th
Express Logistics and Supply Chain Awards, ?Manufacturing 3PL Service Provider
of the Year? at the 3rd Asia Manufacturing Supply Chain Summit 2014, ?Mint-IFC
Strategy Award in Transportation, Logistics & Aviation? at the Porter Prize
Awards 2013, ?Silver Edge award for MILES solution? at the EDGE Awards 2013,
?ABCI award for Corporate film? at the 53rd Association of Business
Communicators of India (ABCI), and the first international award ?Brand
Excellence in Supply Chain & Logistics? at the 4th Annual CMO Asia Awards
2013.
The Company has also been
recognised for its efforts on the Corporate Social Responsibility front,
winning two silver awards for Public Service Campaigns at the 8th Global
Communication Conclave 2014. Company?s accolades within the Mahindra Group
include a ?Game Changer Award? for its ?Project Falcon? in the Sustainability
Awards category, at the Mahindra Rise Awards 2013.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Guarantees
given by the Bankers of the Company |
4.756 |
2.700 |
|
Claim
against the Company not acknowledged by the Company |
|
|
|
VAT |
52.808 |
52.808 |
|
Service
Tax |
37.699 |
34.159 |
|
Income
Tax |
18.488 |
13.728 |
|
Other
matters (excluding claims where amount is not ascertainable) |
11.450 |
9.853 |
|
|
|
|
|
Total |
125.201 |
113.248 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant
and Equipment
·
Furniture
and Fixtures
·
Vehicles
Intangible Assets
· Computer Software
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 records 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. 64.78 |
|
|
1 |
Rs. 99.54 |
|
Euro |
1 |
Rs. 73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
73 |
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.