MIRA
INFORM REPORT
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Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
BILAG INDUSTRIES
PRIVATE LIMITED |
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Registered Office : |
Plot No. 306/3, 2nd
Phase, GIDC, Vapi – 396195, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
08.08.1990 |
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Com. Reg. No.: |
11-133995 (New) 1417 (Old) |
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CIN No.: [Company
Identification No.] |
U28999GJ1990PTC014147
/ U99999MH2001PTC133995 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SRTB01014G |
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PAN No.: [Permanent
Account No.] |
AABCB2100L |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing and
Marketing of Pesticides and Pesticide Intermediates. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 15000000 |
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Status : |
Good |
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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 fine track. Financial position is
good. Payments are correct and as per commitments. Financial position is
good. Payments are correct and as per commitments. The company can be
considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered
Office / Factory : |
Plot No. 306/3, 2nd
Phase, GIDC, Vapi – 396195, |
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Tel. No.: |
91-260 –2400055 /
443 / 444 / 709 |
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Fax No.: |
91-260-2432774 |
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E-Mail : |
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Website : |
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Administrative
Office : |
512 / 513, Midas,
Sahar Plaza Complex, J. B. Nagar, Next to Airport, Kohinoor Hotel, Andheri
East, Mumbai 400 069, Maharashtra, India |
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Tel. No.: |
91-22-28364313 -
16 |
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Fax No.: |
91-22-2822 2222 |
DIRECTORS
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Name : |
Mr. Kadankote
Kannan Unni |
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Designation : |
Chairman and
Managing Director |
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Address : |
145, Nibbana
Co-Operative Housing Society, Pali Hill, Bandra [West], Mumbai – 400050 |
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Date of
Birth/Age : |
15.07.1941 |
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Date of
Appointment : |
03.11.1999 |
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Other
Directorship : |
Micro Inks
Limited CIN No.:
L24220GJ1991PLC016598 Hikal Limited CIN No.:
U24200MH1988PTC048028 Harvey Healthcare
Limited CIN No.:
U85110TN2001PLC046794 Stanes Agencies
Limited CIN No.:
U05110TZ1913PLC000273 |
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Name : |
Dr. Wolfgang
Berhard Welter |
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Designation : |
Director |
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Address : |
AM Wickerbach 25,
D – 65719, |
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Date of
Birth/Age : |
28.01.1948 |
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Date of
Appointment : |
03.11.1999 |
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Name : |
Mr. S. Ravisankar |
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Designation : |
Director |
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Address : |
C – 2/401,
Sankara Colony, P L Lokhande Marg, Govandi, Mumbai – 400043 |
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Date of
Birth/Age : |
23.06.1956 |
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Date of
Appointment : |
22.08.2003 |
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Name : |
Mr. Mochael Deall
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Designation : |
Director |
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Address : |
Bornheim, No. 27
A, 51399, |
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Date of
Birth/Age : |
23.09.1953 |
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Date of
Appointment : |
07.02.2005 |
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Name : |
Mr. Pramodkumar
Mangalsain Minocha |
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Designation : |
Director |
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Address : |
108, bhagyoday
Society, |
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Date of
Birth/Age : |
20.10.1953 |
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Date of
Appointment : |
23.09.2002 |
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Name : |
Mr. Vinay
Navnitbhai Pandya |
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Designation : |
Director |
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Address : |
401 & 402,
Royal Enclave, |
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Date of
Birth/Age : |
08.12.1965 |
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Date of
Appointment : |
24.05.2005 |
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Name : |
Mr. Pramod
Gopaldas Gujarathi |
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Designation : |
Director |
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Address : |
26, Yash, |
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Date of
Birth/Age : |
25.06.1952 |
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Date of
Appointment : |
22.03.2006 |
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Name : |
Mr. Geoff Halls |
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Designation : |
Alternate
Director to Mr. Remy Goetgheluck |
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Address : |
Sendelbacher, WWG
41- 65779, |
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Date of
Birth/Age : |
12.06.1952 |
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Date of
Appointment : |
07.02.2005 |
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Name : |
Mr. Prashant
Desai |
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Designation : |
Director |
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Address : |
1, |
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Date of
Birth/Age : |
26.11.1959 |
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Date of Appointment
: |
25.07.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Anjumbhai G.
Bilakhia |
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800996 |
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Yunusbhai G.
Bilakhia |
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811802 |
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Rashida Y.
Bilakhia |
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848100 |
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Hamida A.
Bilakhia |
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215800 |
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Satish S. Khanna |
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2510 |
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Jakir G. Bilakhia |
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2300710 |
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Jiluben G.
Bilakhia |
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1 |
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Amina Z. Bilakhia |
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1 |
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Bauer Crop
Science SA |
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27750000 |
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Bilakhia Holdings
Private Limited |
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1874999 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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96.28 |
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Bodies corporate |
|
3.72 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and
Marketing of Pesticides and Pesticide Intermediates. |
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Products : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
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Pesticides |
MT |
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4524 |
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Pesticides
Intermediates |
MT |
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|
7425 |
GENERAL INFORMATION
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No. of Employees : |
830 |
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Bankers : |
·
Bank
of ·
Bank
of ·
Dena
Bank , ·
Bank
of ·
Bank
of ·
Punjab
National Bank , GIDC, Vapi – 396195,
·
Deutsche
Bank ·
Nova
Scotia Bank ·
ABN
Amro Bank ·
Bank
of ·
HSBC
Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Price Waterhouse
& Company Chartered
Accountants |
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Address : |
252, Savakar
Marg, |
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Memberships : |
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Subsidiaries : |
v
Bayer
Environmental Science S A , France v
Bayer
chemicals, AG v
Bayer
Distribution Services GmbH v
Bayer
ABS Limited v
Bayer
Specialty Products Limited v
Bayer
Corp Science Limited v
Bayer
Material Science Private Limited |
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Holding
Company : |
v
Bayer
AG, v
Bayer
Corpscience AG, v
Bayer
CorpScience, S.A. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40,000,000 |
Equity Share |
Rs.10/- each |
Rs. 400.000 Millions |
|
8,500,000 |
Preference Share |
Rs. 100/- each |
Rs. 850.000 Millions |
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Total |
|
Rs. 1250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
28,821,427 |
Equity Shares |
Rs. 10/- |
Rs. 288.214
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
288.214 |
296.250 |
304.285 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3613.326 |
2896.399 |
1225.865 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3901.540 |
3192.649 |
1530.150 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
203.532 |
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2] Unsecured Loans |
0.000 |
500.000 |
600.819 |
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TOTAL BORROWING |
0.000 |
500.000 |
804.351 |
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DEFERRED TAX LIABILITIES |
140.259 |
172.349 |
187.763 |
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TOTAL |
4041.799 |
3864.998 |
2522.264 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1682.259 |
1860.182 |
1997.126 |
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Capital work-in-progress |
219.998 |
80.528 |
232.582 |
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INVESTMENT |
566.837 |
566.836 |
0.137 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1159.460
|
1161.342 |
1092.851 |
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Sundry Debtors |
504.443
|
898.750 |
1000.539 |
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Cash & Bank Balances |
444.060
|
151.386 |
79.371 |
|
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Other Current Assets |
23.483
|
10.503 |
1.859 |
|
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Loans & Advances |
527.942
|
560.065 |
1978.306 |
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Total
Current Assets |
2659.388
|
2782.046 |
4152.926 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1073.412
|
1409.500 |
2405.326 |
|
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Provisions |
13.271
|
15.094 |
1455.181 |
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Total
Current Liabilities |
1086.683
|
1424.594 |
3860.507 |
|
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Net Current Assets |
1572.705
|
1357.452 |
292.419 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4041.799 |
3864.998 |
2522.264 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.12.2004 |
|
Sales Turnover |
|
|
5284.260 |
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Total Income |
|
|
5284.260 |
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|
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Profit/(Loss) Before Tax |
|
|
1426.198 |
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Provision for Taxation |
|
|
320.037 |
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Profit/(Loss) After Tax |
|
|
1106.161 |
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Earnings in Foreign Currency : |
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Total Earnings |
|
|
3899.870 |
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Imports : |
|
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Total Imports |
|
|
1647.416 |
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Expenditures : |
|
|
|
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Total Expenditure |
|
|
3858.062 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
PAT / Total Income |
(%) |
NA
|
NA |
20.93 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
26.99 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
23.19 |
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
0.93 |
|
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|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.28
|
0.60 |
3.05 |
|
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|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.45
|
1.95 |
1.08 |
LOCAL AGENCY FURTHER INFORMATION
History:
The Company was
incorporated on 8th August, 1990 at Vapi in
The company changed
its name to “Bilag Industries Limited” w.e.f. 27th December, 1999.
The Registered
Office has been shifted from 512/513, 5th Floor, MIDAS Sahar Plaza
Complex, Andheri – Kurla Road, J. B. Nagar, Andheri (East), Mumbai – 400 059,
Maharashtra to the present address w.e.f. 01.11.2006
The Bilakhia Group,
owns and manages Hindustan Inks and Resins Limited,
In 1990, as a move
to diversify, it set up Mitsu Industries Limited. This venture, focused on the
agrochemical business on a small scale, in the area of intermediate chemicals.
Its manufacturing
activities commenced in the year 1991 with Chloral.
The Bilakhias,
foreseeing a tremendous opportunity in this field, chose to move up the value
chain through backward integration.
This move has
resulted in the introduction of a series of new products, with the value level
going up appreciably.
In 1993,
Trichloroacetyl Chloride was added.
In 1994, Mitsu
carried out a forward integration into the manufacture of Chlorpyriphos
Technical, becoming the largest exporter of Chlorpyriphos from
In 1995, it further
added Cypermethrin Technical and its intermediates Cypermetric Acid Chloride and
Metaphenoxy Benzaldehyde.
In 1996, two new
synthetic pyrethroids Alpha Cypermethirn and permethrin were added.
Then in 1997, it
added Metaphenoxy Benzyl Alcohol and followed it up with the eventful launch of
Deltamethrin. D-trans Allethrin and Lambda Cyhalothrin, were then added to its
product portfolio in 1998 and 1999 respectively.
In a conscious
move, Mistu concentrated its energies on exploring foreign markets.
The Company has
with effect from May 17, 2001 changed its name from Bilag Industries Limited to
Bilag Industries Private Limited.
Necessary approval from the Registrar of Companies has been obtained.
Business:
The company is
engaged in the business as manufacturing and marketing of Pesticides and
Pesticide Intermediates.
The company is also
engaged in to carry on business as manufacturers, formulators, processors,
producers, makers, buyers, sellers, re-sellers, importers, exporters,
distributors, suppliers, fermentators, distillers, refiners, stockists, agents,
merchants and dealers in Chemical, Chemical Compounds (Organic & Inorganic)
in all forms (Solid, Liquid and Gaseous and of all kinds of Heavy Chemicals,
Acids, Alkalies, Tanning Extracts, Solvents, Dyestuffs, Dyes, Colours,
Intermediates, Chemical Auxiliaries, Bio Chemicals and its threaded
preparations, articles and products of all kinds of Pesticides, Insecticides,
Dips, Vermicides, Germicides, etc.
The company is now
a joint venture of Hoechst Schering Agrico AG, German (51%) and Bilakhia Group
(49%) for manufacture of Synthetic Pyrethroids Chemicals and
Intermediates. This Joint Venture is
effective from 1st June, 1999.
The company backed
by global size capacities, fine tuned operations, high powered Research and
Development, intensive quality control parameters and a globally savvy
marketing task force, Mitsu soon catapulted to a position of strength.
A position it
reinforced further, by introducing more than one product a year, which
vindicated its dominance over complex chiral chemistry.
The company
marketed by Aventis, as its central pyrethroid sourcing point and has inherited
a world class manufacturing and Research & Development facility, with an
emphasis on environment protection.
Bilag is a merger
of Aventis (Now Bayer CropSciense S.A.), one of the top five MNC's in the
global crop protection industry and Mitsu Industries Limited, the Rs. 2250
millions company of the Bilakhia Group.
Focused totally on the Synthetic Pyrethroids business this venture will
combine Mitsu's manufacturing expertise in Pyrethroids with the worldwide
marketing and distribution of Aventis. Additionally, it will give Bilag access
to the latest technology, newer products and the latest safety and ecological
measures adopted by Aventis in its operations.
Bilag, consequent
to the merger has also become the largest and most integrated manufacturer of
synthetic pyrethroids in the world.
Ably backed by the
manufacturing capacities, integrated plants setup, high-powered Research & Development
centre, quality mind set, precise logistic management, etc. the company went
from strength to strength in very competitive market. 80 % of the total revenue
of the company comes from export business.
The company has
increased exports sales through access of Aventis Crop Science global marketing
network and also assured sales to Aventis Crop Science SA and its associates
worldwide.
It has gained
access to latest technology and to newer products through the Research and
Development activities undertaken by Aventis Crop Science, SA.
It has gained
access to latest safety and ecological measures adopted by Aventis.
In 1999, the joint
venture was incorporated in
In the later years
AgrEvo merged globally with Rhone Poulenc of France to form Aventis
CropScience. In 2001, Aventis CropScience was acquired by the German chemical
conglomerate Bayer AG to create Bayer CropScience.
At present subject
is a joint venture company of Bayer Cropscience SA and Bilakhia with 74%
and 26% holding respectively.
Bilag's turnover
(2003-04) is Rs.4000 millions (US $ 85 Million)
of which 80% is generated from exports to over 60 countries.
Subject became part
of Bayer AG consequent to the acquisition of crop protection business of ACS SA
by Bayer AG. BCS SA (Formerly known as ACS SA) have increased their equity
stake to 74% in company and accordingly the representation of BCS SA in the
Board of Bilag has increased to 7 members out of the total strength of 9
members.
Subject has
implemented project for the manufacture of special chemical namely Acrinathrin.
The manufacturing process of the product is a complex one and with the help of
the R and D Department at BCS SA, subject is able to successfully implement the
project.
With the
manufacture of Acrinathrin and Deltamethrin (through
The company’s
product range includes: -
v
Cypermethrin
Technical
v
Alphacypermethrin
v
Permethrin
v
Cypermethric
Acid Chloride
v
Metaphenoxybenzeldehyde
v
Esbiothrin
Technical
v
Deltamethrin
Technical
Group Companies where
common control exists are:
Ř
Bayer
Environmental Science S. A., France
Ř
Bayer
India Limited
Ř
Bayer
ABS Limited
Ř
Bayer
Speciality Products Limited
Ř
Bayer
Cropscience India Limited
The company
operates from its caption owned factory & office which are equipped with
most modern manufacturing facilities.
Fixed assets
v
Freehold
land
v
Leasehold
land and Buildings
v
Plant
& machinery
v
Laboratories
Equipments
v
Furniture
and Fittings
v
Office
Equipments
v
Computer
Hardware and Software
v
Vehicles
|
Name of the company
|
Bilag
Industries Private Limited |
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Presented By |
Bilag
Industries Private Limited |
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1) Date and
description of instrument creating the change |
14.08.1995 CC Hypothecation
of goods an packing credit
hypothecation |
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|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 22.5 Millions
including sub limit of packing credit hypothecation of Rs. 7.5 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 |
Stock of raw
materials, semi finished goods, finished goods, stock, spares and spares,
packing credit material used for manufacturing |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
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5) Name and Address
and description of the person entitled to the charge. |
Punjab National Bank GIDC, Vapi 396195 |
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|
6) Date and brief description of instrument
modifying the charge |
Dated 4.05.2006
no document has been executed but letter form bank. |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
No document is
executed however the PNB has given a letter for reduction of various credit
limits as per certified copy of the letter enclosed. The existing
charge of Rs. 269.00 millions on hypothecation of goods is reduced by Rs. 254
millions thereby total is reduced to Rs. 15 millions and the cash credit is
being continued against the security of hypothecation of raw materials in process and finished
goods the details as below : The other terms
and conditions remains same.
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Name of the
company |
Bilag
Industries Private Limited |
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|
Presented By |
Bilag
Industries Private Limited |
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|
1) Date and
description of instrument creating the change |
Date of Hypothecation
executed on the 13.12.2000 |
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|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 15 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 |
Pari Passu First charge
by way of Hypothecation of company Goods i.e. charge
on all stock in trade raw materials goods
in process semi manufactured
goods semi finished and finished products articles equipments stores and
spares of every kind now or at any time hereafter lying anywhere or in
transit or awaiting transit by ship rail air or otherwise or in custody or
control of any of the company agent or distributors. All the present
and future book dents outstanding money receivable claims close in action
contracts engagement and security
which are now due and owing or which may any time hereinafter become due to
owing to the company . For the due
repayment and payment on demand of all monies including the principal sums
interests additional interest, interest in case of default commission costs
charges expenses and other monies whatsoever and howsoever due owing and
payable by the company to the bank in respect of or in anywise concerning or
relating to the banking facilities and
accommodation granted to be granted by the bank to the company as
aforesaid
|
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|
4) Gist of the terms
and conditions and extent and operation of the charge. |
ROI Interest to be charged above Prime Lending Rate of the company which
is 15.5 % p.a. The maximum limit for the above facilities are as indicated against each
and total combined outstanding at any point in time must nor exceed the
combined limit stated. |
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|
5) Name and
Address and description of the person entitled to the charge. |
Standard Chartered Bank Mumbai – 400001 |
|||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument
modifying the charge |
Dated 23.05.2005
no document has been executed but letter form bank. |
|||||||||||||||||||||||||||||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
No document is
executed however the PNB has given a letter for reduction of various credit
limits as per certified copy of the letter enclosed. The original charge
by way of hypothecation of Goods and Book debts created on 13.12.2000 for Rs.
1500 millions is further modified on 20.09.2003 the earlier limit of Rs. 1500
millions comprising of Short term
Working capital loan / Export Finance / Letter of Credit / Non convertible
debenture is now sustained with overdraft / Working capital demand loan /
inland bills discount / guarantee / letter of credit for INR 1500 Mio. Is further
modified on 23.05.2005 for the Existing charge of Rs. 1500 millions on
Hypothecation of goods and book dents
is reduced by Rs. 500 Millions thereby total is reduced to Rs. 1000 millions
comparison of working capital demand
loan / export finance / letter of credit with overdraft / working
capital demand loan / inland bills discount / guarantee / letter of credit
for INR Discount / grantees letter of credit for INR 1000 mio. |
Website
Details Attached:
The
beginning:
It all
started as Mitsu in 1992… and later by creating global size capacities,
using high level R & D leading to regular introduction of new products,
adapting strict international quality control norms, employing highly
sophisticated manufacturing processes and with continuous backward integration
to curtail manufacturing costs, Mitsu catapulted to a position of strength in
the global agrochemicals market.
Believing in the philosophy of "collaborate rather than compete", AgrEvo, an agrochemical company of the German chemical giant Hoechst Ag and Schering, and Bilakhias decided to form a joint venture.
In 1999, the joint
venture was incorporated in
In the later years
AgrEvo merged globally with Rhone Poulenc of France to form Aventis
CropScience. In 2001, Aventis CropScience was acquired by the German chemical
conglomerate Bayer AG to create Bayer CropScience.
At present BILAG
is a joint venture company of Bayer Cropscience SA and Bilakhia with 74%
and 26% holding respectively.
Bilag Today
Bilag Industries Private Limited is a highly
successful joint venture company of Bayer CropScience AG, a chemical
conglomerate from
The shareholding of
Bilag is 74%
Bayer and 26%
Bilakhia Group. Bilag is an agrochemical manufacturing company engaged in the
production of Synthetic Pyrethroids active ingredients and their intermediates
for use in a wide array of agriculture and environmental science products.
Bilag does not manufacture nor market formulations.
Bilag is the single largest manufacturing unit in the world with fully backward
integrated facilities for manufacturing all the products of its range.
With mastery over
difficult chemistry, global size manufacturing capacities, adoption of
international quality control standards, low production costs and highly
successful R & D, Bilag's business focus is on world markets. Bilag is
Bilag's turnover (2003-04) is Rs.400 Crores (US $ 85 Million) of which
80% is generated from exports to over 60 countries.
High powered R & D, ability to manufacture custom made
grades of various products, large logistics capabilities, state-of-the-art SAP
software implementation and convenient transportation links to any part of the
world make Bilag a logical choice for procurement of their requirements for
many multinational agrochemicals corporates in
Bilag is today considered by Bayer
CropScience as its exclusive Pyrethroids manufacturing site.
Bilag Salient Features
A joint venture of
Bayer CropScience and Bilakhia
Manufacturer of
active ingredients and intermediates for agriculture and environmental science
World's largest
production site for Synthetic Pyrethroids
80% of turnover
from exports
Sourcing point for
Bayer CropScience and many other global agrochemical corporates
Bilag
Philosophy
Vision
To emerge as a
center of excellence for process development of complex chemistry & leading
manufacturer of agrochemicals and its intermediates and to enhance the status as
a leading core manufacturing facility of Bayer CropScience .
Develop & Deploy competitive technologies for manufacturing agrochemicals
and its intermediates
· meeting
international quality standards
· using complex
chemistry through economical and eco-friendly processes
· with emphasis on
occupational safety, health, and environment
· through employee
participation for the benefit of the masses
· ensuring
responsibility as a corporate citizen.
Bilag's mission is
to develop better technologies for chemicals for agriculture and environmental
health, of international quality standards through most economical and
eco-friendly processes.
To achieve this
objective they at Bilag continuously strive to emerge as a center of excellence
for manufacturing and process development of chemicals.
Customer Delight,
World-size Capacities, Premium Quality, International Focus and Dependable
Logistics are among the key words which aptly describe Bilag's business
philosophy.
Excellence in whatever they do is a way of life at
Bilag. Striving to scale higher benchmarks of excellence is an inborn habit. No
wonder that, Bilag's journey right from its inception as Mitsu to today's
position of leadership is studded with laurels from industry as well as the Government.
Site:
Bilag's production site is
located at Vapi, in the state of Gujarat in
The production site
is served via an excellent infrastructure of utilities and energies. Bilag has
its own power generation plant of 6.4 MW capacities for captive consumption.
Another plant is under construction. It also has its own R & D Center
equipped with highly sophisticated equipments and apparatus.
An effluent treatment plant, two solid and liquid waste
incinerators and safety arrangements such as medical aid center, fire tenders
etc. are well provided for.
Products:
Bilag is committed to providing the
farmers across the earth, world-class agrochemical solutions.
The chemistry of creation
Bilag's products
which are basic chemicals for agriculture and environmental health science, are
classified into 2 categories viz. Active Ingredients and Intermediates.
Active Ingredients
Deltamethrin
Cypermethrin
Alphamethrin
Permethrin
Allethrins
Acrinathrin
Bayothrin
Imidacloprid
Cyfluthrin
Beta Cyfluthrin
PYRETHROID INTERMEDIATES
METAPHENOXY
BENZALDEHYDE
CYPERMETHRIC ACID CHLORIDE
HIGH- CIS-CYPERMETHRIC ACID CHLORIDE
METAPHENOXY BENZYL ALCOHOL
ALLETHROLONE (DL)
D+DL ALLETHROLONE
L ALLETHROLONE
BECISTHEMIC ACID
d-TRANS CHRYSANTHEMIC ACID
Research and
Development:
Indigenous development
of eco-friendly, innovative and internationally compliant quality agrochemicals
has been an early reality at Bilag.
Always a step ahead
Bilag is, focusing on supporting and nurturing a high-powered
Research and Development facility. This facility is what Bilag has inherited
today. And since the manufacture of Synthetic Pyrethroids is multi step, highly
complex and well protected through various process patents, every facet of the
R & D center is compulsorily world class. Consequently, the indigenous
development of eco-friendly, innovative and internationally compliant quality
agrochemicals has been a reality at Bilag.
Complementing all
this is perhaps the finest brain bank in the business. Bilag has therefore,
been able to create competitive technologies for pesticide manufacturing
It has also
achieved capabilities of commissioning manufacturing facilities, right from
design to switch-on, through in-house know-how. Importantly, it has also
successfully filed process patents for some products.
The R&D lab also has a Biotech wing where biotechnology related
research and development projects like Biocatalysts, Biotransformation and
Biodegradation are undertaken.
Key Instruments in the R&D Lab
G.C.M.S
F.T.I.R
N.M.R(C13NMR,
P-NMR, F-NMR and S-NMR)
Preparative
H.P.L.C
During 1999, Bilag
received "Department of Scientific and Industrial Research" award
instituted by Ministry of Science and Technology, Government of India, in
recognition of its excellent Research & Development efforts in Chemical and
Allied areas.
Ř Significant Contributions of Research and
Development
Ř Availability of advanced
and latest Synthetic Pyrethroid based insecticides at lower prices.
Ř Self-Reliance
Ř First Indian Company to
bring latest generation optically active Synthetic Pyrethroids in the
country.
Ř Enhancement of
technological capacities.
Ř Grant of process patent
in
Bilag also has a
pilot plant where the laboratory experiments are tested before they are
implemented in the plants.
The pilot plant is well equipped having versatile MOC ( MSGL, SS, MSLB and
Glass), working at a temperature range of 20-250 o C, pressure range of 2 mm-
10 kg/cm2, and having the assemblies size of 20 lit. to 2000 lit.
VERSATILE OPERATIONS OF PILOT PLANT
Distillation
(Azotropic and steam distill)
Fractionation
General Chemical
Reactions
Crystallization
Filtration
Drying
Fixed Bed
Catalytic Reactions
Pressure reaction
Bilag's
policy of allowing people complete freedom of operation has inculcated a deep
sense of ownership and responsibility in its work force.
The
resource with a difference in its quest for excellence, Bilag has always laid emphasis on the quality
of its human resource. This mental make-up has translated into accumulation of
a wealth of intellectual capital . Consequently today, Bilag is a professional
powerhouse, with in-depth expertise in every area of function like idea
generation, formulation, production and marketing.
Bilag has a work
force of 803 permanent employees comprising 704 technical and 99 non-technical
which means that more than 88% are technically skilled. Additionally, trainees
and casual labour is employed on the basis of needs. The company operates six
days a week.
Bilag
Employees - March '04
v Technical 704
v Non-Technical 99
v Total 803
Quality:
More than 80% of sales turnover from exports to more than 60 countries
emphatically
demonstrates Bilag's consistent achievement of the most stringent
international quality
standards.
A no-compromise factor
Quality Assurance is an essential
part of any business activity at Bilag. At every stage of production or delivery,
Bilag makes regular quality checks of each product in order to ensure that its
customer receives only high quality products.
Bilag
has set for itself the most stringent quality specifications; it has its own
Quality Assurance department with testing facilities that include classical
analytical instruments like UV/ Vis spectrophotometer, Autotitrators, Digital
melting point apparatus etc. and modern analytical instruments like High
Performance Liquid Chromatographs, Gas Liquid Chromatographs, GC MS, FTIR and
NMR.
Apart
from the purity specifications of the product, they match the impurity profile
and lay emphasis on the aesthetics of the product. Packing plays an important
role, as it is an essential part of the product. They therefore take special
care about their product packing.
It
is this emphasis on quality that sets Bilag apart and ensures that it stays
ahead of competitors.
Key Raw
materials:
Bilag maintains cost competitiveness of the finished
products by procuring raw and packing materials at the lowest possible prices
yet not compromising on quality. Some of the key raw materials procured at
Bilag are mentioned below:
Key Raw Materials at Bilag :
S.No. Name of the Material
1 Liquid Bromine
2 Propionitrile
3 Phenol
4 Thionyl Chloride
5 Glycine
6 Tentbutyl Bromoacetate
7 Benzaldehyde
8 D.V. Ester
9 Ethylenediamine
10 2,5
Dimethyl 2,4 Hexadine
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.48 |
|
|
1 |
Rs.82.59 |
|
Euro |
1 |
Rs.55.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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 |
|