MIRA INFORM REPORT

 

 

Report Date :

30.08.2007

 

IDENTIFICATION DETAILS

 

Name :

BETON CONCRETE PRODUCTS PRIVATE LIMITED

 

 

Registered Office :

Shri Industrial Compound Dargha Road, Parbhani – 431 401, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

30.09.2004

 

 

Com. Reg. No.:

11 – 31901

 

 

CIN No.:

[Company Identification No.]

U65990MH2004PTC031901

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NSKB02383D

 

 

PAN No.:

[Permanent Account No.]

AABCC4124F

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacturing of Pre – Cast / Prestressed Concrete Products.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 48592

 

 

Status :

Satisfactory 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed company having satisfactory track records. 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

 

Registered Office :

Shri Industrial Compound, Dargha Road, Parbhani – 431 401, Maharashtra

E-Mail :

beton_agd@sanchar.net.in

 

 

Factory :

‘Rhythm’, 412, N-3, CIDCO, Aurangabad – 431005, Maharashtra, India

Tel. No.:

91-2403298187/ 9372033222

Fax No.:

91-2402486144

Mobile:

91-9372033222 / 9372033111

E-Mail :

info@betonindia.com /  ashish@betonindiia.com

 

 

Corporate Office:

421 N3 CIDCO, Aurangabad – 431003, Maharashtra, India

Tel No.:

91-240-2484780

Fax No.:

91-240-2486144

 

DIRECTORS

 

Name :

Mr. Ramesh Pokerna

Designation :

Directors

Address :

68, Sarang Society, Garkheda Road, Aurangabad – 431 005, Maharashtra

Date of Birth/Age :

18.05.1950

Date of Appointment :

20.01.1984

 

 

Name :

Mr.  Rajendra Pokerna

Designation :

Director

Address :

Shree Industries Compound, Darga Road, Parbhani – 431 401, Maharashtra

Date of Birth/Age :

18.02.1959

Date of Appointment :

20.01.1984

 

 

Name :

Mr. Ashish Pokerna

Designation :

Director

Address :

68, Sarang Society, Garkheda Road, Aurangabad – 431 005, Maharashtra

Date of Birth/Age :

29.03.1973

Date of Appointment :

30.09.1996

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

A Type Share:

 

 

Mr. Ramesh Pokerna

 

2350

Mr. Rajendra Pokerna

 

36

Mr. Ramesh A Pokerna ( H U F )

 

870

Mr. Ashish Pokerna

 

422

 

 

 

B Type Share:

 

 

Mr. A K Pokerna

 

80

Ms. Aparna Pokerna

 

160

Ms. Apeksha Rajendra Pokerna

 

19

Ms. Archana Pokerna

 

30

M/S. Concept Enterprises Newasa

 

1420

Mr. P.R. Redasani

 

500

Ms. M P Redasani

 

500

Mrs. Neelam Ashish Pokerna

 

138

Mr. Rahul Redasani

 

400

Mr. Ramesh Pokerna

 

4137

Mrs. Pratibha Ramesh Pokerna

 

2066

Mrs. Sangita Rajendra Pokerna

 

60

 

Equity Share Break up ( Percentage of Total Equity)

 

Sr.No

Category

Percentage

1

Directors or relatives of Directors

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Pre – Cast / Prestressed Concrete Products.

 

 

Products :
  • Prestressed Spun Concrete Poles.
  • Prestressed Concrete Static Cast Poles.
  • PSC High Grade (Foundation) PILES.
  • RCC Spun Pipes.
  • Precast Road Signage’s.
  • Traffic Safety Barriers.
  • High Density Interlocking Pavers.

 

 

GENERAL INFORMATION

 

Banking Relations :

Satisfactory

 

 

Bankers :

The Cosmos Co –Operative Bank Limited, Aurangabad  Branch, Aurangabad

 

 

Auditors :

 

Name :

Khandewal Jain and Company

Chartered Accountants

Address :

12, Vrindavan Colony, Opposite S T Workshop, Aurangabad - 431001, Maharashtra

 

 

Associates/Subsidiaries :

NIL

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

15000

Equity Share

Rs.100/-each

Rs.1.500 millions

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

14408

Equity Share

Rs.100/- each

Rs.1.440 millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2006

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

1.440

1.440

2] Share Application Money

 

0.000

0.223

3] Reserves & Surplus

 

10.708

5.482

NETWORTH

 

12.148

7.145

LOAN FUNDS

 

 

 

1] Secured Loans

 

13.131

14.346

2] Unsecured Loans

 

0.347

0.128

TOTAL BORROWING

 

13.478

14.474

DEFERRED TAX LIABILITIES

 

0.784

0.000

 

 

 

 

TOTAL

 

26.410

21.619

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

19.570

18.227

 

 

 

 

INVESTMENT

 

0.124

0.124

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

3.322

2.582

 

Cash & Bank Balances
 

2.338

0.127

 

Other Current Assets
 

1.640

0.240

 

Loans & Advances
 

2.618

2.459

Total Current Assets
 

9.918

5.408

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

3.213

2.233

 

Provisions
 

0.045

0.018

Total Current Liabilities
 

3.258

2.251

Net Current Assets
 

6.661

3.158

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.055

0.110

 

 

 

 

TOTAL

 

26.410

21.619

 

 

 

 

 

 

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2006

31.03.2005

Sales Turnover

 

16.301

11.922

Total Income

 

16.301

11.922

 

 

 

 

Profit/(Loss) Before Tax

 

4.536

0.152

Provision for Taxation

 

0.000

0.000

Profit/(Loss) After Tax

 

4.536

0.152

 

 

 

 

Expenditures :

 

 

 

 

Interest

 

2.019

2.108

 

Depreciation & Amortization

 

0.820

0.796

 

Other Expenditure

 

8.926

8.865

Total Expenditure

 

11.765

11.769

 

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

 

31.03.2006

31.03.2005

PAT / Total Income

(%)
 

27.82

1.27

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

27.82

1.27

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

15.38

0.63

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.37

0.02

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 
1.37

2.34

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
 
3.04

2.40

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Name of the company

M/S. BETON CONCRETE PRODUCTS PRIVATE LIMITED

Presented By

The cosmos Co –Operative Bank Limited, Aurangabad  Branch, Aurangabad

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

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 0.500 millions

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

4) Gist of the terms and conditions and extent and operation of the charge.

Condition : Interest Rate As Per Bank Rules.

5) Name and Address and description of the person entitled to the charge.

The Cosmos Co-Operative Bank Limited, Aurangabad Branch, Aurangabad

 

WEBSITES DETAILS:

 

The first   :         To develop Spun Mast / Pole (1984-85).Indigenously.

The only   :        To make Highest Spun Mast / Pole in India (30mtr).

Providing :         TOTAL SOLUTION to support Power Transmission, Distribution & Street

                                   Lighting applications.

 

 

BACKGROUND :

 

  • Power Sector Infrastructure Development was launched in post independence India with limited sources  and vast backlog of development.
  • Access to Power for remote places has been our priority since then.
  • India is now on the way to be a virtual Super Power.
  • Lighting remotest house hold has now become our focus in second phase of power reforms with huge resources.
  • Sustaining development of Power Infrastructure needs long term Vision & Policy.
  • Pre-stressed Solid Rectangular (Static Cast) pole is adopted as cost effective option for Power Distribution in general and Rural Electrification in particular.
  • REC has optimized design of such PSC Poles.
  • Maharashtra has adopted PSC Pole types of: 8 Meter long ( Working loads – 140 Kg / 200 Kg.) & 9 Meter long ( working load – 200 Kgs.) mainly for L.T Lines Steel Poles are generally used for M.V. Lines.
  • Gradually 9 Mtr PSC Poles are also adopted for 11KV Lines.
  • Subsidized power to Agricultural sector has probably forced us to adopt this cos saving option of using PSC Rectangular Poles for LV/MV Lines. 
  • 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.
  • The differentiation between type of pole and its usage is being ignored.
  • 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.
  • 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 Ethiopia. Thus we are associated with SEVEN projects for Power Distribution net works aggregating to over USD 200 million.

 

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

            Singapore - 1990.

 

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, 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.41.24

UK Pound

1

Rs.82.55

Euro

1

Rs.56.06

 

                                                                         

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

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

 

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.

 

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

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions