MIRA
INFORM REPORT
|
Report Date : |
17.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MACAWBER BEEKAY PRIVATE LIMITED |
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Registered Office : |
L – 8, Green Park extension, New Delhi – 110016 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.12.1984 |
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Com. Reg. No.: |
55-019631 |
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CIN No.: [Company
Identification No.] |
U51909DL1984PTC019631 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM09085G/DELM10598A |
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PAN No.: [Permanent
Account No.] |
AAACM0332L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Denseveyors, Ash Handling Equipment and Pneumatic
Conveying Systems |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 380000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
L – 8, Green Park extension, New Delhi – 110016 |
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Tel. No.: |
91-11-42224222 (30 Lines), 26193396 |
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Fax No.: |
91-11-42224333, 4222444 |
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E-Mail : |
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Website : |
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Location : |
Commercial |
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Factory 1 : |
Surajpur Industrial Area, District Gautam Budh Nagar – 201306 , Uttar
Pradesh |
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Tel. No.: |
91-120-2560235/2560311/2560313 |
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Fax No.: |
91-120-2569546 |
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E-Mail : |
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Area: |
12530 Sq. ft |
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Location : |
Owned (Industrial) |
DIRECTORS
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Name : |
Mr. Ajay Kumar |
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Designation : |
Managing Director |
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Address : |
C-4/43 Safdarjung Development Area, New Delhi – 110016 |
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Date of Birth/Age : |
10.05.1948 |
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Date of Appointment : |
20.12.1984 |
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Name : |
Mr. Rohit K Gupta |
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Designation : |
Director |
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Address : |
C-5/27 Safdarjung Development Area, New Delhi – 110016 |
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Date of Birth/Age : |
19.04.1952 |
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Date of Appointment : |
20.12.1984 |
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Name : |
Mr. Karan Gupta |
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Designation : |
Director |
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Address : |
C-4/43 Safdarjung Development Area, New Delhi – 110016 |
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Date of Appointment : |
01.11.2003 |
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Name : |
Mr. Franz Bartels |
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Designation : |
Director |
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Address : |
Auf Dem Schendorn 13, Bocholt – 46399, Germany |
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Date of Birth/Age : |
22.07.1954 |
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Date of Appointment : |
21.06.2000 |
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Name : |
Mr. William J Thomson |
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Designation : |
Director |
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Address : |
Clorword, Drymen Road, Ballouch Dunbarton, G 83 8 HT, England |
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Date of Appointment : |
16.11.1997 |
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Name : |
Mr. Jeffrey Hudson |
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Designation : |
Director |
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Address : |
7 Kingfisher Road, Adwick Le Street, Doncaster DN 6 7 UT |
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Date of Birth/Age : |
12.04.1960 |
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Date of Appointment : |
30.06.2003 |
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Name : |
Mr. Gautam Gupta |
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Designation : |
Director |
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Address : |
C-4/43 Safdarjung Development Area, New Delhi – 110016 |
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Date of Appointment : |
01.04.2005 |
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Key Executive |
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Name : |
M/s. S Pahi & Company |
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Designation : |
Company Sectaries |
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Address : |
J – 82, Gali No. 5, Raj Nagar – I, Palam Colony, New Delhi – 110045 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mr. Ajay Kumar |
105000 |
10.50 |
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Mr. Rohit K Gupta |
30000 |
3.00 |
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Mr. Ajay Kumar (HUF) |
100000 |
10.00 |
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Ms. Poonam Gupta |
14000 |
1.40 |
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Mr. Rajat Gupta |
14000 |
1.40 |
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Mr. Rohan Gupta |
14000 |
1.40 |
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Mr. Rahul Gupta |
14000 |
1.40 |
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Mr. Karan Gupta |
70000 |
7.00 |
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Mr. Gautam Gupta |
70000 |
7.00 |
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M/s. Clyde Bergemann Material Handling Limited |
400000 |
40.00 |
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M/s. R K Gupta & Sons, HUF |
4000 |
0.40 |
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Ms. Neera Gupta |
105000 |
10.50 |
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Mrs. Shardha Gupta |
30000 |
3.00 |
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Mrs. Ekta Gupta |
30000 |
3.00 |
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Total |
1000000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Denseveyors, Ash Handling Equipment and Pneumatic
Conveying Systems |
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Products : |
v Dome Valve v Ash Conditioner v Ash Vessel v Denseveyor v K Pump v Mobile
Denseveyor v PD Pump
Submerged Scrapper Conveyor v Unloading Spouts
v Clinker Grinder v Rotofeed v Sand Pump v Travelling Water
Screen v Bottom Ash
Handling Systems v Fly Ash Handling
Systems v Coal Mill
Rejects Handling Systems v High
Concentration Slurry Disposal Systems
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Imports : |
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Countries : |
UK & Europe |
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Terms : |
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Purchasing : |
Letter of Document at Sight to 90 days |
GENERAL
INFORMATION
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Customers : |
Foundries
v
Bhartiya Electric Steel Co. Limited v
Telco v
Bhilai Engg. v
Bhel v
Swaraj Foundries v
Ennore Foundries v
Engine Componentgs v
Acc_Nihon Casting v
Kirloskar Electric v
Dcm Engg. v
Electro Steel Castings v
Mysore Kirloskar v
Hindustan Development Corpn. v
Burn Standard
Power v
NTPC v
BHEL v
PSEB v
MSEB v
MPEB v
CESC v
TATA POWER v
AECO v
GIPCL-SLPP v
CSEB v
CECL v
WBPDCL Cement v
ACC v
Grasim Industries v
Ambuja Cement v
Birla Corp v
L & T / Ultratech Cemco v
Modi Cements v
Satna Cement v
Chittor Cement v
Birla Jute v
Rajashree Cement v
Vasavadatta Cement v
Kesoram Cement v
Birla Super Cement v
Maratha Cement v
Aditya Cement v
Kakatiya Cement Sugar v
Dhandapani Cements v
Chettinad Cement v
Jaypee Cement v
Purulia Cement v
My Home Cement v
Manikgarh Cement Steel v
Sail v
Tisco v
Bhartiya Electric v
Sri Ramakrishna Steel v
Sunflag Iron & Steel v
Monnet Ispat v
Visag Steel Plant v
Jindal Steel & Power v
Monnet Power v
Smc Power v
Raipur Alloys & Steel v
Bindal Sponge v
Scaw Industries Paper v
Ballarpur Industries v
Itc Bhadrachalam Paper Boards v
Andhra Pradesh Paper Mills v
Orient Paper v
Central Pulp Mills v
Straw Products v
Tribeni Tissues v
Ac Babcock v
J.K. Corp. v
South India Paper v
Mysore Paper v
Tamil Nadu Newsprint v
Indo Afrique v
Abc Papers Aluminium v
Indal v
Hindalco Industries v
Naclo v
Sterlite/Baclo Chemicals v
Tata Chemicals v
Ghcl v
Birla Copper v
Nova Petrochemicals v
Birla Vxl v
Aquagel Chemicals v
Bihar Caustic & Chemicals v
Kanoria Chemicals Food
Processing v
Food Specialities v
Nestle v
Ruchi Soya v
General Foods v
Ruchi Infrastructure Others v
Triveni Sheet Glass v
Hi. Tech Carbon v
Midas Rubber v
Gujarat Glass v
English Indias Clay v
Walchandnagar Industries v
India Gypsum |
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Bankers : |
Syndicate Bank, Hauz Khas Branch, New Delhi – 110016 |
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Facilities : |
Cash Credit – Rs. 275.000 Millions from Syndicate Bank as per
Hypothecation agreement dated 23.08.2006 It is secure against hypothecation of all stock of raw materials, work
in progress, spares etc. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s. Prince Water House & Company Chartered Accountant |
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Address : |
P – 1, Aditya Vihar, Saidulajab, Opposite D – Block, Saket, Mehrauli
Badarpur Road, New delhi – 110030 |
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Joint Venture: |
Clyde Bergemann Materials Handing Limited, UK |
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Associates/Subsidiaries : |
v BSBK Engineers
Private Limited v Beekay Project
Consultants Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
10.000 |
10.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
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87.372 |
66.832 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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97.372 |
76.832 |
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LOAN FUNDS |
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1] Secured Loans |
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132.885 |
43.504 |
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2] Unsecured Loans |
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61.933 |
77.347 |
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TOTAL BORROWING |
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194.818 |
120.851 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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292.190 |
197.683 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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40.006 |
29.699 |
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Capital work-in-progress |
|
0.145 |
1.767 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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66.045 |
38.750 |
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Sundry Debtors |
|
529.394 |
241.799 |
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Cash & Bank Balances |
|
85.751 |
22.560 |
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Other Current Assets |
|
2.689 |
4.466 |
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Loans & Advances |
|
42.427 |
30.842 |
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Total
Current Assets |
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726.306 |
338.417 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
441.462 |
148.508 |
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Provisions |
|
35.221 |
24.391 |
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Total
Current Liabilities |
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476.683 |
172.899 |
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Net Current Assets |
|
249.623 |
165.518 |
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MISCELLANEOUS EXPENSES |
|
2.416 |
0.699 |
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TOTAL |
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292.190 |
197.683 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
590.148 |
421.404 |
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Other Income |
|
471.532 |
336.240 |
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Total Income |
|
1061.680 |
757.644 |
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Profit/(Loss) Before Tax |
|
44.123 |
30.593 |
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Provision for Taxation |
|
17.881 |
11.345 |
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Profit/(Loss) After Tax |
|
26.242 |
19.248 |
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Expenditures : |
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Other Expenditure |
|
1002.451 |
719.733 |
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Total Expenditure |
|
1002.451 |
719.733 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
2.47 |
2.54 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
7.48 |
7.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.41 |
5.19 |
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Return on Investment (ROI) (PBT/Networth) |
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|
26.95 |
25.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
2.00 |
1.57 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.52 |
1.96 |
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Quick Ration |
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|
1.39 |
1.73 |
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Current Liabilities/Net worth |
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|
4.90 |
2.25 |
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Fixed Assets/ Net Worth |
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0.41 |
0.39 |
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Average Collection Days |
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327.42 |
209.43 |
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Account Receivables Turnover |
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1.11 |
1.74 |
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Inventory Turnover |
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8.94 |
10.87 |
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Assets Turnover |
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14.75 |
14.19 |
LOCAL AGENCY
FURTHER INFORMATION
As per website
details
Profile
Macawber Beekay was established in
1984 as a joint venture company in collaboration with Clyde Bergemann Materials
Handling Limitedof UK (formerly Simon-Macawber Limited), the world leaders in
Dense Phase Pneumatic transfer of bulk materials.
The name Clyde / Macawber is an
acknowledged market leader in the innovative design of pneumatic conveying
systems. Macawber Beekay is recognized as the pneumatic conveying expert over
both long and short distances, within an operating material temperature band of
(-) 10 degrees centigrade to 480 degree centigrade, bringing out all the
advantages of low velocity conveying in these systems.
Combining the need of
environmental pollution control with energy conservation, Macawber Beekay's
unique Dense Phase Pneumatic Conveying systems offer solutions to the bulk
material handling problems of core sectors of the Indian Industry - Power,
Cement, Steel, Chemicals, etc.
At a time when environmental
protection is a major industrial and social consideration, the Macawber Beekay
method of pneumatic conveying by totally enclosed handling system, is
particularly amenable to the environment. All conventional problems of
spillage, dust, contamination and storage are successfully and efficiently
eradicated.
Macawber Beekay provides the
industry with customized solutions using a proven product range and brings
together all the major benefits of:
v
Material Handling Technology.
v
Engineering Know-how.
v
World class project
management experience.
v
Quality service and assured
system performance.
Their designs, products and project
management meet:
v
International and national
codes and regulations.
v
Customer and industry
standards.
v
ISO 9001:2000 Quality
Management System.
The manufacturing facilities
set-up in Surajpur, Greater Noida, UP and the Project & Design office in
New Delhi, provide the professional back-up. Other members of the BSBK GROUP -
BSBK Engineers Private Limited and Beekay Project Consultants (Private) Limited
provide further assistance in execution of turnkey projects.
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 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.15 |
|
UK Pound |
1 |
Rs.84.38 |
|
Euro |
1 |
Rs.57.22 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|