MIRA
INFORM REPORT
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Report Date : |
18.08.2007 |
IDENTIFICATION DETAILS
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Name : |
BETON CONCRETE PRODUCTS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
30.09.2004 |
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Com. Reg. No.: |
31901 |
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CIN No.: [Company
Identification No.] |
U65990MH2004PTC031901 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NSKB02383D |
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PAN No.: [Permanent
Account No.] |
AABCC4124F |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturing of Pre – Cast / Prestressed Concrete Products. |
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 48592 |
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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 company having satisfactory track.
Directors are reported as experience and respectable businessmen. Trade
relations are reported as fair. Business is active. Paymentss 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 : |
Shri Industrial Compound, |
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E-Mail : |
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Factory : |
‘Rhythm’, 412, N-3, CIDCO, |
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Tel. No.: |
91-2403298187/ 9372033222 |
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Fax No.: |
91-2402486144 |
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91-9372033222 / 9372033111 |
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E-Mail : |
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Corporate Office: |
421 N3 CIDCO, |
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Tel No.: |
91-240-2484780 |
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Fax No.: |
91-240-2486144 |
DIRECTORS
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Name : |
Mr. Ramesh Pokerna |
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Designation : |
Directors |
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Address : |
68, Sarang Society, |
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Date of Birth/Age : |
18.05.1950 |
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Date of Appointment : |
20.01.1984 |
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Name : |
Mr. Rajendra Pokerna |
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Designation : |
Director |
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Address : |
Shree Industries Compound, |
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Date of Birth/Age : |
18.02.1959 |
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Date of Appointment : |
20.01.1984 |
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Name : |
Mr. Ashish Pokerna |
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Designation : |
Director |
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Address : |
68, Sarang Society, |
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Date of Birth/Age : |
29.03.1973 |
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Date of Appointment : |
30.09.1996 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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A Type Share: |
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Mr. Ramesh Pokerna |
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2350 |
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Mr. Rajendra Pokerna |
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36 |
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Mr. Ramesh A Pokerna ( H U F ) |
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870 |
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Mr. Ashish Pokerna |
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422 |
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B Type Share: |
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Mr. A K Pokerna |
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80 |
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Ms. Aparna Pokerna |
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160 |
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Ms. Apeksha Rajendra Pokerna |
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19 |
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Ms. Archana Pokerna |
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30 |
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M/S. Concept Enterprises Newasa |
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1420 |
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Mr. P.R. Redasani |
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500 |
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Ms. M P Redasani |
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500 |
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Mrs. Neelam Ashish Pokerna |
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138 |
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Mr. Rahul Redasani |
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400 |
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Mr. Ramesh Pokerna |
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4137 |
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Mrs. Pratibha Ramesh Pokerna |
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2066 |
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Mrs. Sangita Rajendra Pokerna |
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60 |
Equity Share Break up ( Percentage of Total Equity)
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Sr.No |
Category |
Percentage |
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1 |
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Pre – Cast / Prestressed Concrete Products. |
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Products : |
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GENERAL INFORMATION
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Banking Relations
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Satisfactory |
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Bankers : |
The Cosmos Co –Operative Bank Limited, |
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Auditors : |
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Name : |
Khandewal Jain and Company Chartered Accountants |
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Address : |
12, Vrindavan Colony, Opposite S T Workshop, |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Share |
Rs.100/-each |
Rs.1.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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14408 |
Equity Share |
Rs.100/-
each |
Rs.1.440 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.440 |
1.440 |
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2] Share Application Money |
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0.000 |
0.223 |
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3] Reserves & Surplus |
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10.708 |
5.482 |
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NETWORTH |
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12.148 |
7.145 |
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LOAN FUNDS |
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1] Secured Loans |
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13.131 |
14.346 |
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2] Unsecured Loans |
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0.347 |
0.128 |
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TOTAL BORROWING |
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13.478 |
14.474 |
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DEFERRED TAX LIABILITIES |
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0.784 |
0.000 |
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TOTAL |
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26.410 |
21.619 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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19.570 |
18.227 |
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INVESTMENT |
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0.124 |
0.124 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.322 |
2.582 |
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Cash & Bank Balances |
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2.338 |
0.127 |
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Other Current Assets |
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1.640 |
0.240 |
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Loans & Advances |
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2.618 |
2.459 |
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Total
Current Assets |
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9.918 |
5.408 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.213 |
2.233 |
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Provisions |
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0.045 |
0.018 |
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Total
Current Liabilities |
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3.258 |
2.251 |
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Net Current Assets |
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6.661 |
3.158 |
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MISCELLANEOUS EXPENSES |
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0.055 |
0.110 |
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TOTAL |
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26.410 |
21.619 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.37
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2.34 |
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Current Ratio (Current Asset/Current Liability) |
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3.04
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2.40 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the
company |
M/S. BETON CONCRETE PRODUCTS PRIVATE LIMITED |
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Presented
By |
The cosmos Co –Operative Bank Limited, |
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1) Date and description of instrument creating the change |
Hypothecation of Tangible Goods / Movable Property to secure a demand
cash credit Account / Demand Overdraft Account / Demand Loan Account Dated :
27th March 2004 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 0.500 millions |
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3) Short particular of the property charged. If the property acquired
is subject to charge, date of the acquired of the property should be given |
These are hereby hypothecated in favour of the bank all those the
following goods of the borrowers ( describe in general terms ) namely plant
and machineries, Land and Building as
per the schedule enclosed here with and which forms part of this document,
including there in the stocks thereof the time being whether raw or
manufacture and also all products , goods and any every tangible movable
property of the borrowers whether new lying or at any time hereafter during
the continuance of this security lying or being or about the borrowers
premisers and godowns at gut No. 223 /1/2 c, village Khadka to Newasa
District, Ahmednagar |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Condition :
Interest Rate As Per Bank Rules. |
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5) Name and Address and description of the person entitled to the
charge. |
The Cosmos
Co-Operative Bank Limited, |
WEBSITES DETAILS:
The first : To develop Spun Mast / Pole
(1984-85).Indigenously.
The only : To make Highest Spun Mast / Pole
in
Providing : TOTAL SOLUTION to support Power
Transmission, Distribution & Street
Lighting applications.
BACKGROUND :
Ø
Power Sector Infrastructure Development was launched
in post independence
Ø Access to Power for remote places has been our priority since then.
Ø
Ø Lighting remotest house hold has now become our focus in second phase of power reforms with huge resources.
Ø Sustaining development of Power Infrastructure needs long term Vision & Policy.
Ø Pre-stressed Solid Rectangular (Static Cast) pole is adopted as cost effective option for Power Distribution in general and Rural Electrification in particular.
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REC has optimized design of such PSC Poles.
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Gradually 9 Mtr PSC Poles are also adopted for
11KV Lines.
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Subsidized power to Agricultural sector has
probably forced us to adopt this cos saving option of using PSC Rectangular
Poles for LV/MV Lines.
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It is a common scene that rural feeder lines are
broken or tilted even during normal /
moderate winds every year in most
parts of the state.
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The differentiation between type of pole and its
usage is being ignored.
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Poles designed and meant for light duty applications
such as suspension type L.T. lines (8M-
140 Kg/ 200 Kg) linear formation, are used for heavy duty application such as 11 Kv lines/ Angular
formations and even for High Way crossing with extensions.
Ø
The poles are thus subjected to loads beyond
their designed ultimate capacity - resulting
in repeated damages or power shut downs to many rural areas or remote places.
This is a venture launched by Mr Ramesh Pokerna, who is associated with Power Distribution sector since 1979. He has promoted almost six industrial units for making PSC poles for power transmission & distribution. His companies are pioneers in indigenous development of PSC Spun Tubular Poles for Railway Electrification, High Mast lighting, Power Transmission & Distribution. He has presented Technical papers in national and international seminars as also published articles on process technology of Prestressed concrete products. He has traveled extensively to visit and study advanced production techniques across the world.
Pole is a major component in power distribution network, as
such core competence in developing poles for various applications has earned
them overseas assignments of technical collaboration for Design and manufacture
of PSC Poles. This assignment in East Africa also includes exposure to design
aspects of loading conditions on the pole due to conductors, hardware and other
related norms of power distribution network as per international standards
(ASTM, DIN, BS etc;). We have provided total technical and management backup to
set up and operate FIVE manufacturing centers in
COMPETANCY & JOB PROFILE:
- Design of Power Distribution Network.
- Design, Analysis, Verification and Inspection of Hardware for Power Distribution Schemes as per international standards.
- Project Management Consultancy (PMC).
- Third Party Inspection / Verification/ Analysis.
- Identification &/or Assessment of Vendors/ Project execution agencies.
Expertise for Power System Network Design:
Mr. B.G. Jadhav of the Beton Core Team is a retired Chief Engineer (Electrical), Govt of Maharashtra, who can provide expertise in entire Power System Network design confirming to relevant I.E. Rules. Some of the areas of competence are as under:
- Identification, Selection & Testing of: Transformers, CT – PT relays, Circuit Breakers, Capacitors and all such equipments and installations for Generation/ Transmission and Distribution.
- Design and Testing of LT-OH, HT-OH & EHVT-OH lines.
- Design and Testing of HT/EHVT- DC lines.
- Design of Power Safety systems.
- Verification and Testing of Domestic Electrical Appliances & Equipments.
- Planning and erection of power system network.
- Design and Execution of Construction / Civil work for Power System.
ORGANIZATIONAL SETUP:
Expert manpower according to scope of work can be tied up from a team of over 100 Indian personnel trained and posted on overseas projects, being executed by us. Core team mentioned above can source additional work force and experts from a vide arena of their contacts. Faculty members from Engineering Colleges are associated to provide technical backup for training and all other project related issues.
THE GROUP:
GROUP PROFILE :
Established
- 1970
Group
vision : development through
innovation.
Making
PSC solid poles for MSEB since last 23 years and pioneers to develop PSC
spun poles / High Masts for Indian
railways
GROUP CREDENTIALS…
Pioneers
in design and manufacture of PSC spun tubular poles for railway
electrification in the year 1985.
Winner
of A.R. Bhat national entrepreneurship award 1985 from FASII
Winner
of district entrepreneurship award
Presented
technical paper on “PSC tubular poles & piles - suitable manufacturing
techniques for developing countries”
at the international seminar held in
GROUP ACTIVITIES
POKERNA GROUP. (1970)
(The Concrete People – Innovative
Creators).
Total Solution providers for ANY
THING IN PRE CAST / PRESTRESSED CONCRETE.
SERVICES:
Expertise
for Power System Network Design:
Expertise
for Prestressed Spun Concrete Poles.
Expertise
for PSC High Grade (Foundation) PILES.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.57 |
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1 |
Rs.82.14 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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