MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
BHARATHI RUBBER LINING AND ALLIED SERVICES PRIVATE LIMITED |
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Registered Office : |
114, Satyam Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.08.1982 |
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Com. Reg. No.: |
11-28003 |
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CIN No.: [Company
Identification No.] |
U25100MH1982PTC028003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB11352F |
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PAN No.: [Permanent
Account No.] |
AABCB4408P |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Trader of Brass Metallics, Brass Ingots, Zinc Ingots, Copper Metallics, Copper Ingot, Copper Scrap, Zinc Metallics, Brass Ash, Copper Ash, Zinc Ash, Zinc Dross |
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 20000 |
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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 company having satisfactory track. Trade relations are fair. General financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
114, Satyam Industrial Estate, Opposite Govandi Station Road, Govandi,
Chembur, Mumbai – 400088, Maharashtra, India |
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Tel. No.: |
91-22-2762212 |
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E-Mail : |
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Factory 1 : |
Plot No. C – 49, TTC Industrial Area, |
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Tel. No.: |
91-22-23865401 |
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Fax No.: |
91-22-23806734 |
DIRECTORS
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Name : |
Mr. Ashok Kumar Talesara |
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Designation : |
Director |
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Address : |
4 Laxmi Nivas, |
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Date of Appointment : |
13.02.1992 |
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Name : |
Mr. Vishnu Kumar Talesara |
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Designation : |
Director |
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Address : |
A/15-169, Kaked, Derasar Lane, Ghatkopar [East], Mumbai, |
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Date of Appointment : |
01.04.1997 |
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Name : |
Mr. Dilip Kumar Dugar |
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Designation : |
Director |
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Address : |
303, Shivdeep Co-operative Housing Society Limited, Sector – 29,
Vashi, Navi Mumbai – 400705, |
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Date of Appointment : |
13.02.1992 |
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Name : |
Mr. Padmanathan Krishnabharathi |
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Designation : |
Director |
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Address : |
5/45, Gandhi Bhavan, |
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Date of Appointment : |
01.09.1982 |
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Date of Resignation : |
13.02.1992 |
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Name : |
Mr. Padmathan Ramdas |
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Designation : |
Director |
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Address : |
Row House No. 1, Narayani Co-Operative Housing Society, Sector – 2,
Airoli, New Mumbai – 400708, |
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Date of Appointment : |
01.09.1982 |
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Date of Resignation : |
29.10.2003 |
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Name : |
Mr. V. Kumar |
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Designation : |
Director |
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Address : |
C-2, Geetanjali Co-operative Housing Society, Thankar Wadi, |
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Date of Appointment : |
01.09.1982 |
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Date of Resignation : |
13.02.1992 |
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Name : |
Mr. Padmanathan Vishwabharathi |
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Designation : |
Director |
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Address : |
5/45, Gandhi Bhavan, |
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Date of Appointment : |
01.09.1982 |
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Date of Resignation : |
13.02.1992 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Ashok R. Talesara |
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11000 |
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Ashok R. Talesara – HUF |
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100 |
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Anal V. Talesara |
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100 |
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Dilip R. Talesara – HUF |
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100 |
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Dilip Kumar Dugar |
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550 |
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Kamal R. Talesara |
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100 |
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Kashmira V. Talesara |
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100 |
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Kiran K. Talesara |
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100 |
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Manju D. Talesara |
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100 |
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Nitin D. Talesara |
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100 |
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Sushma D. Talesara |
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100 |
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Seema A. Talesara |
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100 |
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Sunny K. Talesara |
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100 |
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Vibha A. Talesara |
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100 |
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Vijay R. Talesara (HUF) |
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100 |
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Vishnu R. Talesara |
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7550 |
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Vishank V. Talesara |
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100 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Brass Metallics, Brass Ingots, Zinc Ingots, Copper
Metallics, Copper Ingot, Copper Scrap, Zinc Metallics, Brass Ash, Copper Ash,
Zinc Ash, Zinc Dross |
GENERAL INFORMATION
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Customers : |
v A.I.C. Chemicals Private Limited v Ashok Metal Industries v Aaia Metals & Fero Alloys v Badriprasad Jagdish Prasad v Fidelty Enterprises v Five Star Metal Company v Indo Fil Chemicals Industry v Jai Kalimaa Chemicals Private Limited v Kay Chemicals Industry v Lakhotiya Udyog v Laxmi Metal Industries v Mahvir Metals v Mardia Tubs v Metallic Extractors v Pranil Enterprises Private Limited v R. K. Manufacturing Company v S. A. Traders v S. S. Metal Recycling Industries v Shivangi Chemicals Industry v Sigma Chemicals Industry v Sunrise Zinc Limited v Super Metal Industries v Swet Chemicals Industries |
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No. of Employees : |
20 |
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Bankers : |
v
Bank of v
Bank of v
v HDFC Bank Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B. G. Gokhru and Company Chartered Accountants |
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Address : |
Room No. 27, Rungata Bhawan, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
20190 |
Equity Shares |
Rs. 100/- each |
Rs. 2.019
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.019 |
2.014 |
2.009 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.070 |
1.185 |
0.540 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.089 |
3.199 |
2.549 |
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LOAN FUNDS |
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1] Secured Loans |
8.628 |
0.555 |
0.000 |
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2] Unsecured Loans |
102.029 |
51.942 |
25.528 |
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TOTAL BORROWING |
110.657 |
52.497 |
25.528 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.044 |
0.014 |
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TOTAL |
115.746 |
55.740 |
28.091 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.427 |
3.555 |
3.356 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
74.716
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17.550 |
10.125
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Sundry Debtors |
19.186
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20.411 |
4.556
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Cash & Bank Balances |
3.121
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0.000 |
1.360
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Other Current Assets |
0.000
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0.000 |
0.000
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Loans & Advances |
25.094
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20.763 |
9.976
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Total
Current Assets |
122.117
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58.724 |
26.017 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
8.141
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4.840 |
0.035
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Provisions |
2.657
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1.699 |
1.247
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Total
Current Liabilities |
10.798
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6.539 |
1.282 |
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Net Current Assets |
111.319
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52.185 |
24.735
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
115.746 |
55.740 |
28.091 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
304.189 |
155.011 |
97.078 |
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Profit/(Loss) Before Tax |
2.860 |
1.185 |
0.719 |
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Provision for Taxation |
NA |
NA |
0.272 |
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Profit/(Loss) After Tax |
2.860 |
1.185 |
0.447 |
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Imports : |
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Total Imports |
NA |
NA |
93.421 |
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Expenditures : |
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Interest |
7.011 |
4.614 |
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Depreciation |
0.498 |
0.621 |
96.359 |
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Other Expenses |
293.819 |
148.590 |
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Total Expenditure |
301.328 |
153.825 |
96.359 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
0.94 |
0.76 |
0.46
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Net Profit Margin (PBT/Sales) |
(%) |
0.94 |
0.76 |
0.74
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.26 |
1.90 |
2.44
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Return on Investment (ROI) (PBT/Networth) |
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0.56 |
0.37 |
0.28
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Debt Equity Ratio (Total Liability/Networth) |
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23.87
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18.45 |
10.51
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Current Ratio (Current Asset/Current Liability) |
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11.31
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8.98 |
20.29
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LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
v Borewell
v Electrical Installation
v Factory
v Computer
v Fire Equipment
v Furniture & Fixture
v Laboratory Equipment
v Land
v Plant & Machinery
v Motor Cycle
v Scooter
v Scorpio Turbo
v Weight Machine
Bankers Charges
Report as per Registry
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Name of the company |
BHARATHI RUBBER
LINING AND ALLIED SERVICES PRIVATE LIMITED |
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Presented By |
Bank of |
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1) Date and description of instrument creating the change |
Charge of
hypothecation of book debts dated 25.10.1986 for Rs. 0.285 Millions |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.285 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 |
All the book debt
outstanding, money receivable claims and bills which are now due and owing or
which may at any time hereafter during the continuance of this security
become due and owing to the borrower in the course of its business by any
person, company or by the Government or any local or public body or
authority. Cash Credit
[Hypothecation of Book Debts] Rs. 0.285 Million
carrying interest at the rate of 5.6 % OBR Min 15.5 % with quarterly rest or
at such other rate as may be modified to the company by the bank from time to
time with power to the bank to seize and realize. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Hypothecation of
assets described in column No. 3 and such assets of the nature mentioned in
column No. 3 as are or may at any time be in possession or power of the
company to secure. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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.40.81 |
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|
1 |
Rs.81.57 |
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Euro |
1 |
Rs.54.91 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
|
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/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 |
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