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%20PRIVATE%20LIMITED%20-%20504899_MIRA%2023-Apr-2018_files/image002.jpg){kind=small}
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%20PRIVATE%20LIMITED%20-%20504899_MIRA%2023-Apr-2018_files/image005.gif)
MIRA INFORM REPORT
|
Report No. : |
504899 |
|
Report Date : |
23.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
WILHELMSEN SHIP MANAGEMENT (INDIA) PRIVATE LIMITED (w.e.f. 30.01.2008) |
|
|
|
|
Formerly Known
As : |
BARBER SHIP MANAGEMENT (INDIA) PRIVATE LIMITED INDIAN OCEAN SHIP MANAGEMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
31/32, Apple Heritage, Plot No 54-C, Sir M V Road, Andheri (East),
Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-30882750 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
04.08.1982 |
|
|
|
|
Com. Reg. No.: |
11-027931 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35110MH1982PTC027931 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACI1614H1ZY |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI1614H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of providing vessel related services namely manning, marine consultancy-Health, Safety, Environment Quality (HSEQ), Marine Consultancy, Planned Maintenance System (PMS) and Procurement to its principal. The company also engaged into providing maritime training to its principal and others. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Wilhelmsen Ship Management (India) Private Limited is a subsidiary of
“Wilhelmen Ship Management Holding Limited (HK), Hongkong”. The company was
incorporated in the year 1982 and is based in Mumbai, Maharashtra. It is an
established company having fine track. For the financial year ended 2017, the company has witnessed a growth
in its revenue and has achieved good profit margin at 18.80% (approx.). The company possesses sound financial profile marked by healthy net
worth base along with low debt level and favourable gap between trade
payables to its trade receivables. The company also derives strength from its strong holding entity and
its experienced management team. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payment
terms seems to be regular and as per commitments. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 23.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly available
IBBI (Insolvency and Bankruptcy Board of India) list as of report date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE: 91-22-30882750
LOCATIONS
|
Registered Office : |
31/32, Apple Heritage, Plot No 54-C, Sir M V Road, Andheri (East), Mumbai
– 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30882750 |
|
Fax No.: |
91-22-26870977 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch 1: |
Shivam Chamber, Flat 2D, 53, Syed Amir Ali Avenue, Kolkata - 700 019, India |
|
Tel. No.: |
91-33-40088505 |
|
E-Mail : |
|
|
|
|
|
Branch 2: |
Third Floor, East Wing, Leelavati Building, No. 69 Armenian Street, Chennai 600 001, Tamilnadu, India |
|
Tel. No.: |
91-44-25222250 |
|
E-Mail : |
|
|
|
|
|
Branch 3: |
10, Upper Gorund, Arunachal Building, 19, Barakhamba Road, New Delhi - 110 001, India |
|
Tel. No.: |
91 11 2373 1615 |
|
E-Mail : |
|
|
|
|
|
Branch 4: |
41/1029-B, 1st Floor, Veekshanam Road, Ernakulam, Cochin - 682018, India |
|
Tel. No.: |
91 484 3233 160 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Jaime Anslem Pereira |
|
Designation : |
Director |
|
Address : |
53, Cris Adel, C.S.M. Road, Vakola Bridge, Santacruz (East), Mumbai-400055,
Maharashtra, India |
|
Date of Birth/Age : |
03.07.1965 |
|
Date of Appointment : |
01.02.2007 |
|
DIN No.: |
01251292 |
|
|
|
|
Name : |
Carl Christian Schou |
|
Designation : |
Director |
|
Address : |
Sutera Bukit Tunku, Unit No. A, 2-2, No. 20A, Jalan Tun Ismail, Bukit
Tunku, Kuala Lumpur-50480, Malaysia |
|
Date of Birth/Age : |
16.01.1958 |
|
Date of Appointment : |
02.09.2011 |
|
DIN No.: |
03552102 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Wilhelmsen Ship Management Holding Limited (HK), Hongkong |
|
49999 |
|
Wilhelmsen Ship Management Limited (HK), Hongkong |
|
1 |
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20504899_MIRA%2023-Apr-2018_files/image006.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing vessel related services namely manning, marine consultancy-Health, Safety, Environment Quality (HSEQ), Marine Consultancy, Planned Maintenance System (PMS) and Procurement to its principal. The company also engaged into providing maritime training to its principal and others. (Registered Activity) |
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Products : |
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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
|
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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Auditors : |
|
|
Name : |
Price Waterhouse and Company Bangalore LLP Chartered Accountants |
|
Address : |
Nesco IT Building III, 8th Floor, Nesco IT Park, Gate No. 3,Western
Express Highway, Goregaon, Mumbai-400063, Maharashtra, India |
|
Tel. No.: |
91-22-61198000 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding Company : |
|
|
|
|
|
Intermediate Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
·
Wilhelmsen Ship Management Limited, Hong Kong ·
Wilhelmsen Ship Management (Norway) AS ·
Wilhelmsen Ship Management Sdn. Bhd., Malaysia ·
Wilhelmsen Ship Management Korea Limited, South
Korea ·
Wilhelmsen Smith Bell Manning Inc. ·
Barwill Dubai LLC, Dubai ·
Wilhelmsen Ship Services LLC, Dubai ·
Wilhelmsen Ship Management d.o.o., Croatia ·
Wilhelmsen Marine Personnel (Hongkong) Limited,
Hongkong ·
Wilhelmsen Ship Management (USA) Inc. ·
WSM Global Services Limited, Hongkong ·
Golar Wilhelmsen Management AS, Norway ·
Wilhelmsen Marine Personnel (Myanmar) Company
Limited, Myanmar ·
Wilhelmsen Marine Personnel Sp.z.o.o (Poland) ·
Wilh Wilhelmsen ASA, Norway |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
133.114 |
45.121 |
45.121 |
|
(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) |
133.614 |
45.621 |
45.621 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
92.700 |
100.371 |
100.429 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
1.607 |
1.250 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.183 |
4.789 |
6.708 |
|
Total
Non-current Liabilities (3) |
99.883 |
106.767 |
108.387 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
3.573 |
4.896 |
3.636 |
|
(c) Other current liabilities |
20.489 |
17.304 |
17.285 |
|
(d) Short-term provisions |
4.941 |
43.898 |
39.759 |
|
Total
Current Liabilities (4) |
29.003 |
66.098 |
60.680 |
|
|
|
|
|
|
TOTAL |
262.500 |
218.486 |
214.688 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
83.659 |
70.628 |
75.402 |
|
(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) |
1.053 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
89.976 |
85.406 |
70.515 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
174.688 |
156.034 |
145.917 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
37.839 |
23.377 |
31.457 |
|
(d) Cash and cash equivalents |
17.662 |
16.355 |
24.478 |
|
(e) Short-term loans and
advances |
21.669 |
12.509 |
4.860 |
|
(f) Other current assets |
10.642 |
10.211 |
7.976 |
|
Total
Current Assets |
87.812 |
62.452 |
68.771 |
|
|
|
|
|
|
TOTAL |
262.500 |
218.486 |
214.688 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
259.261 |
227.005 |
230.438 |
|
|
Other Income |
1.886 |
1.554 |
2.090 |
|
|
TOTAL
|
261.147 |
228.559 |
232.528 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Consultancy Costs |
7.375 |
7.528 |
9.097 |
|
|
Employees benefits expense |
108.887 |
98.582 |
94.515 |
|
|
Other expenses |
50.385 |
46.447 |
48.064 |
|
|
TOTAL |
166.647 |
152.557 |
151.676 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
94.500 |
76.002 |
80.852 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.724 |
4.886 |
4.817 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
89.776 |
71.116 |
76.035 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
17.694 |
9.209 |
21.337 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
72.082 |
61.907 |
54.698 |
|
|
|
|
|
|
|
Less |
TAX |
23.340 |
22.657 |
19.144 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
48.742 |
39.250 |
35.554 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.408 |
0.408 |
0.408 |
|
|
|
|
|
|
|
Add |
Proposed Dividend and Tax on proposed Dividend written
back on Non approval at 34th Annual General meeting |
39.250 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Final Dividend |
0.000 |
32.577 |
29.510 |
|
|
Tax on Final Dividend |
0.000 |
6.673 |
6.044 |
|
|
Total
|
0.000 |
39.250 |
35.554 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
88.400 |
0.408 |
0.408 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Professional and Consultancy
Fees |
193.810 |
170.192 |
181.275 |
|
|
Other Income |
1.283 |
1.477 |
1.432 |
|
|
TOTAL
EARNINGS |
195.093 |
171.669 |
182.707 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
974.85 |
785.00 |
711.07 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
5.550 |
5.673 |
5.173 |
|
Cash generated from operations |
70.214 |
81.136 |
76.543 |
|
Net cash flow from operating activity |
42.395 |
42.684 |
43.631 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
53.27 |
37.59 |
49.83 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.85 |
9.71 |
7.33 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.13 |
1.08 |
1.07 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.48 |
0.79 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.74 |
2.32 |
2.31 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.22 |
1.45 |
1.33 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.63 |
1.55 |
1.65 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
20.00 |
15.56 |
16.78 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
18.80 |
17.29 |
15.43 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
18.57 |
17.96 |
16.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
36.48 |
86.03 |
77.93 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.03 |
0.94 |
1.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
3.03 |
0.94 |
1.13 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.51 |
0.21 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
196.50 |
212.09 |
211.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
3.03 |
0.94 |
1.13 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
45.121 |
45.121 |
133.114 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
45.621 |
45.621 |
133.614 |
|
|
|
|
|
|
Long Term borrowings |
100.429 |
100.371 |
92.700 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
5.173 |
5.673 |
5.550 |
|
Total
borrowings |
105.602 |
106.044 |
98.250 |
|
Debt/Equity
ratio |
2.315 |
2.324 |
0.735 |
%20PRIVATE%20LIMITED%20-%20504899_MIRA%2023-Apr-2018_files/image007.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR In
Million |
|
Sales
|
230.438 |
227.005 |
259.261 |
|
|
|
(1.490) |
14.209 |
%20PRIVATE%20LIMITED%20-%20504899_MIRA%2023-Apr-2018_files/image008.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
230.438 |
227.005 |
259.261 |
|
Profit |
35.554 |
39.250 |
48.742 |
|
|
15.43% |
17.29% |
18.80% |
%20PRIVATE%20LIMITED%20-%20504899_MIRA%2023-Apr-2018_files/image009.gif)
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 |
|
|
17 |
Details of sister concerns |
No |
|
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 |
|
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
|
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL
INFORMATION
Subject is engaged in the business of providing vessel
related services namely manning, marine consultancy-Health, Safety, Environment
Quality (HSEQ), Marine Consultancy, Planned Maintenance System (PMS) and
Procurement to its principal. The company also engaged into providing maritime
training to its principal and others.
FINANCIAL SUMMARY
OR HIGHLIGHTS/PERFORMANCE OF COMPANY:
The total revenue from the operations during the year is INR 259.261 Million
and Net profit of INR 48.742 Million against the total revenue from the
operation during the previous year of INR 227.005 Million and Net profit of INR
39.250 Million.
Since the company does not have any subsidiaries, associates and joint
venture companies during the year, it does not need to consolidated its
accounts.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Foreign Currency Loan from Wilhelmsen Ship Management Holding Limited,
Hong Kong the Holding Company |
92.700 |
100.371 |
|
|
|
|
|
Total |
92.700 |
100.371 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G82364043 |
100019519 |
The Hongkong and Shanghai Banking Corporation Limited |
30/11/2015 |
- |
09/03/2018 |
2000000.0 |
52/60 Mahatma Gandhi Road, Fort, MUMBAI – 400001, MAHARASHTRA, INDIA |
|
2 |
A72638992 |
10059239 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
22/06/2007 |
- |
14/10/2009 |
6000000.0 |
RAMON HOUSE 169, BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI – 400020, MAHARASHTRA, INDIA |
|
3 |
A72638554 |
80056370 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMIED |
02/09/2004 |
- |
14/10/2009 |
15000000.0 |
RAMON HOUSE, 169-BACKBAY RECLAMATION, MUMBAI – 400020, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the company not acknowledged as debt in respect of : |
|
|
|
Demand raised by Income Tax Authorities
against which is pending disposal |
190.345 |
194.857 |
|
Demand cum show-cause notice raised by Service
tax Authorities against which the company has made an appeal, which is
pending disposal. |
29.276 |
29.276 |
FIXED ASSETS
- Office Premises
- Leasehold Improvement
- Computers
- Office Equipment
- Vehicles
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 records 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
|
INR |
|
US Dollar |
1 |
INR 66.01 |
|
|
1 |
INR 92.72 |
|
Euro |
1 |
INR 81.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
TJL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.