MIRA
INFORM REPORT
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Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BHARAT BIJLEE LIMITED |
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Registered Office : |
Electric Mansion, 6th Floor,
Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, INDIA. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
22.06.1946 |
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Com. Reg. No.: |
11-005017 |
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CIN No.: [Company
Identification No.] |
L31300MH1946PTC005017 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB11178G |
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PAN No.: [Permanent
Account No.] |
AAACB2900K |
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Legal Form : |
A public limited liability company.
The company’s shares are listed on the stock exchange |
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Line of Business : |
Manufacturers of Electric Motors and Transformers |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 3000000 |
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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.
The company is progressing well. Directors are reported as experienced and
respectable businessmen. Trade relations are reported as fair. Business is
active. Payments are usually correct and as per commitments. Fundamentals are strong and healthy The company can be considered normal for business dealings at usual
trade terms and conditions. The company can be regarded as a promising business partner in a
medium to long run. |
LOCATIONS
DIRECTORS
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Name : |
Mr. Bansi S. Mehta |
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Designation : |
Chairman |
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Name : |
Mr. Nikhil J. Danani |
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Designation : |
Vice Chairman & Managing Director |
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Name : |
Mr. Nakul P. Mehta |
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Designation : |
Vice Chairman & Managing Director |
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Name : |
Mr. Jaisingh R. Danani |
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Designation : |
Director |
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Name : |
Mr. Mukul Harkisondass |
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Designation : |
Director |
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Name : |
Mr. Prakash V. Mehta |
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Designation : |
Director |
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Name : |
Mr. Anand J. Danani |
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Designation : |
Director |
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Name : |
Mr. Deepak S. Parekh |
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Designation : |
Director |
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Name : |
Mr. Sanjiv N. Shah |
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Designation : |
Director |
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Name : |
Mr. Jairaj C. Thacker |
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Designation : |
Director |
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Name : |
Mr. Meghendra Kumar |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Promoters,
Directors & Relatives |
1990170 |
35.21 |
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Public Financial
Institutions |
884589 |
15.65 |
|
Mutual Funds
& Banks |
231037 |
4.09 |
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FIIS |
261898 |
4.63 |
|
NRIS/OCBS |
59169 |
1.05 |
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Private
Corporate Bodies |
409496 |
7.25 |
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Indian Public |
1815201 |
32.12 |
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Total |
5651560 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Electric Motors and Transformers |
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Products : |
Item Code No. Product
Description 8501 Electric
Motors 8504 Electric
Transformers 8428
Lifts |
PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Electric Motors |
HP IN 000 |
|
0.750 |
0.702 |
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Transformers |
MVA |
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8000 |
4019 |
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Controllers for VSD System |
Nos. |
|
250 |
10 |
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Pumps |
Nos. |
|
10000 |
-- |
GENERAL
INFORMATION
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No. of Employees : |
3500 |
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Bankers : |
v Bank of India v The HongKong
& Shanghai Banking Corporation Limited v The United
Western Bank Limited v Syndicate Bank v Indian Bank v The North Kanara
Gaud Saraswat Cooperative v Bank Limited v Citibank v Standard
Chartered Bank |
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Facilities : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Messrs Dalai & Shah Chartered Accountant |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
12% non Convertible Redeemable Cumulative
Preference Shares |
Rs. 100/- each |
Rs. 20.00
millions |
|
800000 |
Equity Shares |
Rs.100/- each |
Rs. 80.00
millions |
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Total |
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|
Rs. 100.00 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
565156 |
Equity Shares |
Rs.100/- each |
Rs. 56.516
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
56.516 |
56.516 |
56.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
716.404 |
466.603 |
246.900 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
772.920 |
523.119 |
303.400 |
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LOAN FUNDS |
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1] Secured Loans |
110.923 |
273.060 |
177.500 |
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2] Unsecured Loans |
314.040 |
76.948 |
63.500 |
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TOTAL BORROWING |
424.963 |
350.008 |
241.000 |
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DEFERRED TAX LIABILITIES |
8.263 |
(1.323) |
0.000 |
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TOTAL |
1206.146 |
871.804 |
544.400 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
292.367 |
213.532 |
203.900 |
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Capital work-in-progress |
1.841 |
11.770 |
0.500 |
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INVESTMENT |
183.497 |
28.497 |
28.400 |
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Intangible Assets |
1.439 |
2.602 |
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 |
430.007
|
351.751 |
425.600 |
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Sundry Debtors |
976.669
|
680.471 |
669.700 |
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Cash & Bank Balances |
62.260
|
221.091 |
75.200 |
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Other Current Assets |
6.475
|
82.555 |
0.000 |
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Loans & Advances |
329.462
|
183.836 |
100.600 |
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Total
Current Assets |
1804.873
|
1519.704 |
1271.100 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
668.058
|
701.190 |
959.600 |
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Provisions |
424.261
|
233.418 |
46.000 |
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Total
Current Liabilities |
1092.319
|
934.608 |
1005.600 |
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Net Current Assets |
712.554
|
585.096 |
265.500 |
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MISCELLANEOUS EXPENSES |
14.448 |
30.307 |
46.100 |
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TOTAL |
1206.146 |
871.804 |
544.400 |
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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 |
3007.834 |
2458.431 |
2204.200 |
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Other Income |
36.807 |
44.084 |
32.300 |
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Total Income |
3044.641 |
2502.515 |
2236.500 |
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Profit/(Loss) Before Tax |
502.964 |
355.690 |
109.600 |
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Provision for Taxation |
166.166 |
78.036 |
36.700 |
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Profit/(Loss) After Tax |
336.798 |
277.654 |
72.900 |
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Earnings in Foreign Currency : |
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Export Earnings |
0.568 |
5.536 |
NA |
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Commission Earnings |
0.000 |
0.000 |
NA |
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Other Earnings |
0.000 |
0.363 |
NA |
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Total Earnings |
0.568 |
5.899 |
NA |
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Imports : |
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Raw Materials |
76.706 |
59.496 |
NA |
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Stores & Spares |
0.400 |
0.000 |
NA |
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Capital Goods |
4.912 |
13.511 |
NA |
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Total Imports |
82.018 |
73.007 |
NA |
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Expenditures : |
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Raw Material Consumed |
1969.100 |
1650.326 |
1267.500 |
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Excise Duty |
0.000 |
0.000 |
193.100 |
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Power & Fuel Cost |
0.000 |
0.000 |
15.200 |
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Personal |
251.766 |
225.503 |
0.000 |
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Interest |
46.884 |
37.914 |
0.000 |
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Depreciation & Amortization |
18.402 |
16.822 |
0.000 |
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Other Expenditure |
274.666 |
308.022 |
96.100 |
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Total Expenditure |
2560.818 |
2238.587 |
1571.900 |
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QUARTERLY
|
PARTICULARS |
30.06.2006 (1st
Quarter) |
30.09.2006 (2nd
Quarter) |
31.12.2006 (3rd
Quarter) |
|
Sales Turnover |
710.000 |
1101.500 |
1097.500 |
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Other Income |
8.400 |
8.200 |
5.500 |
|
Total Income |
718.400 |
1109.700 |
1103.000 |
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Total Expenditure |
637.700 |
964.500 |
879.000 |
|
Operating Profit |
80.700 |
145.200 |
224.000 |
|
Interest |
9.900 |
14.100 |
15.300 |
|
Gross Profit |
70.800 |
131.100 |
208.700 |
|
Depreciation |
5.400 |
5.800 |
6.000 |
|
Tax |
22.200 |
41.600 |
67.600 |
|
Reported PAT |
42.800 |
83.800 |
133.700 |
200606
Quarter 1 - EPS is Basic
& Diluted 1. The Company has only one reportable segment viz. 'Industrial
Products' in teams of the Accounting Standard - 17 on 'Segment Reporting'
issued by the Institute of Chartered Accountants of India. 2. There were no
investor complaints pending at the beginning and at the end of the quarter.
Thirteen complaints were received and duly resolved during the quarter 3.
Provision of Current Tax includes provision for Fringe Benefit Tax. 4. The
above statement of Financial results has been reviewed by the Audit Committee
and taken on record by the Board of Director at the meeting held on 31.07.2006
5. Previous year's/Period's figures have been regrouped wherever necessary.
200609
Quarter 2 -: Expenditure includes (Increase)/Decrease in Stock in Trade
Rs (70.30)million Consumption of Raw Material Rs 851.10 million Staff Cost Rs
80.20 million Other expenditure Rs 99.90 million Tax Includes Provision for
Current Tax Rs 41.60 million Deferred Tax-Debit/(credit) Rs (0.10) million
Extra Ordinary items Indicates Expenditure on VRS amortised EPS is Basic &
Diluted Status of Investor Complaints for the quarter ended September 30, 2006
Complaints Pending at the beginning of the quarter Nil Complaints Received
during the quarter 18 Complaints disposed off during the quarter 18 Complaints
unresolved at the end of the quarter Nil 1. The Company has only one reportable
segment viz. 'Industrial Products' in terms of the Accounting Standard - 17 on
'Segment Reporting' issued by the Institute of Chartered Accountants of India
(ICAI). 2. Provision for Current Tax includes provision for Fringe Benefit Tax.
3. Provision, if any, to comply with the requirements of the revised Accounting
Standard (AS) 15 on Employee Benefits issued by the ICAI will be made at the
end of the year. 4. The above statement of Financial results has been subjected
to a limited review by the Statutory Auditors reviewed and recommended by the
Audit Committee and taken on record by the Board of Directors at the meeting
held on October 20, 2006. 5. Previous year's/Period's figures have been
regrouped wherever necessary.
200612
Quarter 3 -
Expenditure includes (Increase)/Decrease in Stock in Trade Rs (146.00)million
Consumption of Raw Material Rs 849.90 million Staff Cost Rs 75.90 million Other
expenditure Rs 95.60 million Tax Includes Provision for Current Tax Rs 67.60
million Deferred Tax-Debit/(credit) Rs 1.40 million Extra Ordinary items
Indicates Expenditure on VRS amortised EPS is Basic & Diluted Status of Investor
Complaints for the quarter ended December 31, 2006 Complaints Pending at the
beginning of the quarter Nil Complaints Received during the quarter 09
Complaints disposed off during the quarter 09 Complaints unresolved at the end
of the quarter Nil 1. The Company has only one reportable segment viz.
'Industrial Products' in terms of the Accounting Standard - 17 on 'Segment
Reporting' issued by the Institute of Chartered Accountants of India (ICAI). 2.
Provision for Current Tax includes provision for Fringe Benefit Tax. 3.
Provision, if any, to comply with the requirements of the revised Accounting
Standard (AS) 15 on Employee Benefits issued by the ICAI will be made at the
end of the year. 4. The above statement of Financial results has been subjected
to a limited review by the Statutory Auditors reviewed and recommended by the
Audit Committee and taken on record by the Board of Directors at the meeting
held on January 18, 2007. 5. Previous year's/Period's figures have been
regrouped wherever necessary.
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt Equity Ratio |
0.60 |
0.72 |
0.84 |
|
Long Term Debt Equity Ratio |
0.30 |
0.49 |
0.55 |
|
Current Ratio |
1.37 |
1.31 |
1.17 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
7.39 |
6.71 |
6.18 |
|
Inventory |
8.74 |
7.07 |
5.46 |
|
Debtors |
4.12 |
4.07 |
3.76 |
|
Interest Cover Ratio |
8.68 |
5.68 |
3.08 |
|
Operating Profit Margin (%) |
17.15 |
12.26 |
9.11 |
|
Profit Before Interest and Tax Margin (%) |
16.62 |
11.65 |
8.50 |
|
Cash Profit Margin (%) |
10.39 |
8.22 |
4.43 |
|
Adjusted Net Profit Margin (%) |
9.86 |
7.61 |
3.82 |
|
Return on Capital Employed (%) |
56.05 |
47.75 |
40.86 |
|
Return on Net Worth (%) |
51.98 |
50.62 |
30.10 |
STOCK PRICES
|
Face Value |
Rs.10/- |
|
High |
Rs.1229.00/- |
|
Low |
Rs.1111.00/- |
LOCAL AGENCY
FURTHER INFORMATION
History
Established in 1946, Bharat Bijlee manufactures electric motors and transformers. It has technical collaboration with Siemens, Germany, to manufacture transformers. It also has the capacity to manufacture 450 lifts for which it has a tie-up with Inventio, a Swiss multinational which is the second largest manufacturer of lifts in the world. The company's products are sold under Olympus-Schindler brand name.
The company's manufacturing facilities at Kalwa, near Bombay, are
equipped with modern special-purpose automatic machinery and sophisticated
meteorological test-field and quality-control equipment. Its products are
marketed and serviced through its nation-wide network of registered and branch
offices. The company has an active R&D centre recognised by the Department
of Science & Technology. In September.'95, it issued bonus shares
(1:1).
The company won the award for the best stall at ELECRAMA 96, an
exhibition organised at Bombay by the Indian Electrical and Electronics
Manufacturers Association during Jan.'96.
The projects division successfully completed a substation for a
cogeneration power plant during the year and is looking forward to more orders
from this sector. A modern Digital Drive which will be introduced during the
current year is expected not only to improve their position in the Sugar Industry,but
to open up a market for new applications. The expansion project of the
transformer at Kalwa,was successfully completd. The investment cost has been
increased by Rs.3 crores.
OPERATIONS:
During the year under review, income from Sales and Services grew by
Rs.669.000 Millions from Rs.2748.000 Millions to Rs. 3417.000 Millions, a
growth of 24%. Orders received during the year for motors and transformers, the
main products of Industrial Product segment, went up by Rs. 867.000 Millions
from Rs.2284.000 Millions to Rs.3151.000 Millions, a growth of 38%.
PBT before exceptional items and tax increased by Rs.220.000 Millions
from Rs.264. 000 Millions to Rs.484. 000 Millions, a rise of 84%. Motors and
Transformers the principal products of the Industrial Product Segment,
contributed to this excellent result. Higher price realisations, an improved
product mix in larger volumes, and higher productivity enabled this
growth.
NEW TRANSFORMER PLANT:
Mr. Jaisingh R Danani, Senior Director of the Company inaugurated PWRLEX,
the new Transformer Plant on 22nd March, 2006. This world class state of the
art Plant increases the Company's manufacturing capacity to 8000 MVA.
FINANCE:
The Company has financed capital expenditure and major portion of increased
working capital substantially through internal accruals and marginal increase
in short terms borrowings. Therefore the financing cost has gone up from
Rs.38.000 Millions to Rs.47.000 Millions. The same has been contained at 1.37%
of the sales, same as in the previous year.
As on 31st March, 2006, the Company had Fixed Deposits
aggregating to Rs.111.540 Millions. Out of the Fixed Deposits which matured for
payment prior to 31st March, 2006, 44 deposits aggregating to Rs.1.925 Millions
were neither renewed nor claimed till 31st March, 2006. Of these 7 deposits
aggregating to Rs.0.355 Millions have since been renewed or refunded on receipt
of requests from the deposit holders. The balance of 37 deposits aggregating to
Rs.1.570 Millions have been neither claimed nor renewed till date of this
Report, inspite of the Company's intimation to the deposit holders. There has
been no default or delay in meeting any maturity payment obligations.
DIVESTMENT OF LIFT
OPERATIONS:
At the 58th Annual General Meeting held on 12th August, 2005, the
Chairman had informed the members that receipt of a part of the sale
consideration for the Elevator Field Operations Division, as also redemption of
certain instruments allotted pursuant to the approved Scheme of Arrangement
under Section 391 and 394 of the Companies Act, 1956, was awaiting adjudication
in arbitration proceedings undertaken in terms of agreement between the Company
and the Transferee Company in whom the Elevator Field Operations Division had
so vested.
A Settlement was reached on 29th August, 2005, through negotiations in
which the total consideration was fixed at a sum of Rs.365. 000 Millions
covering the agreed aggregate value of Bonds A and Bonds B of Rs.117.500
Millions.
Out of the total consideration of Rs.365. 000 Millions , the Company had
accounted a consideration of Rs. 330.000 Millions in the previous Accounting
Year. In the current Accounting Year ending 31st March, 2006, the Company has
accounted as an extraordinary item the balance amount of Rs. 35.000
Millions.
FUTURE OUTLOOK:
Any further significant growth in demand for motors is unlikely but many
segments of the user industry are doing well, and hence volumes are likely to
be stable during the ensuing year.
In the 10th 5-year plan about 34000 MW of power generation capacity is
expected to be added, predominantly during 2006-2007. In the 11th 5-year plan
(2007-2012) 61000 MW of capacity addition is targeted with the Government
committed to power reforms and 'Power to all by 2012'. This should translate
into a growing demand for power and distribution transformers in their served
markets. The unexecuted order book continues to be healthy and the increased
demand for power transformers in their served market is expected to be met by
optimal utilization of the increased capacity of their new Transformer Plant
and de-bottlenecking of the old Transformer Plant, coupled with further
streamlining of the planning and supply-chain management processes
BUSINESS
Subject acts as manufacturers of electric motors and transformers. The
company has technical collaboration with Siemens, Germany to manufacture
transformers. The company has the
capacity to manufacture 450 lifts for which it has a tie-up with Inventio, a
Swiss Multinational, which is the second largest manufacturer of lifts in the
world. The company’s products are sold
under Olympus –Schindler brand name.
The company’s manufacturing facilities are at Kalwa, near Mumbai, and
are equipped with modern special- purpose automatic machinery and sophisticated
meteorological test- field and quality-control equipments. The company’s products are marketed through
its nation-wide network of registered and branch offices. The company has an active R & D centre
recognised by the Department of Science and Technology. In September, 1995, the company issued bonus
shares (1:1).
The company won the award for the best stall at ELECRAMA 96, an
exhibition organised at Mumbai by the Indian Electrical and Electronics
Manufacturers Association during January, 1996.
A modern Digital Drive, which will be introduced during the current
year, is expected not only to improve its position in the Sugar Industry, but
to open up a market for new applications.
The Company has initiated a number of steps and evolved plans to improve
operational efficiency across the organisation includes:
·
Improvement in productivity of manufacturing and field operations.
·
Reduction of cost in every possible area.
·
Working capital management
·
Voluntary Retirement Scheme
·
Territorial repositioning in certain geographical markets
·
Upgrading the manufacturing range of transformers
The company’s fixed assets of important value include leasehold land,
building, plant & machinery, furniture & fixtures, office equipment and
motor vehicles.
As per website
details
Corporate Affairs -
Corporate Information
Introduction
Bharat Bijlee Limited is one of the leaders in the electrical engineering industry in India. A multi-product, multi-division organization, the company operates in two business segments, Industrial Products which comprises transformers, motors and drives; and Contracting, i.e Projects. A pioneer in electrical engineering in the private sector, the company has a reputation for quality which characterises every facet of its activities.
History
Bharat Bijlee was established in 1946, and pioneered the manufacture of electric motors at a time when most electrical equipment was imported. With the same entrepreneurial spirit the company began manufacturing transformers in 1954. The total personnel strength was then around 100 and the investment of Rs. 0.570 Millions (Rs.570,000) in fixed assets generated sales of Rs. 0.800 Millions (Rs.800,000).
In 1958, a comprehensive technical collaboration for the manufacture of transformers and motors was finalised with Siemens AG. This was to be a long and fruitful partnership. A major new project located at Kalwe, near Bombay, spread over 1,93,000 sq. meters of land and involving large and sophisticated manufacturing facilities was implemented from 1965, and commissioned in phases to Siemens' exacting standards. A heavy plant for the manufacture of large transformers was started, a semi-mechanised foundry installed, and a modem plant with special purpose machinery set up to manufacture motors.
In 1972, the company diversified into the manufacture and installation of Olympus elevators. Between 1986 and 1996, a wide ranging technical and financial partnership with Schindler, Switzerland gave Bharat Bijlee ongoing access to state of the art technology in vertical transportation. In 2004, the elevator field operations business was divested to a subsidiary of Kone Elevators India Private Limited
The company's transformers and motors were originally marketed by Siemens India. In 1980 Bharat Bijlee undertook a phased take-over of the marketing of these products. The company's own sales and servicing infrastructure dealt directly with utilities and industrial buyers of transformers while its motors were distributed by Cable Corporation of India. In 1990, the company's sales and service network also took over the direct marketing of motors and pumps, and today has an extensive national presence through a cohesive network of sales, after-sales and field offices.
Synergistic considerations led to the formation of an independent Projects division which designs, installs and commissions High Tension electrical switchyards and distribution systems on turn-key basis.
The Industrial Electronics and Instrumentation division was started to cater to the growing need for specialised industrial drives and control systems. In-house R&D innovation has already led to the successful introduction of several special purpose drive systems.
Electric Motors -
Product Introduction
A Brief Introduction
Well over 2 million Bharat Bijlee motors and pumps serve Indian agriculture and industry.
Modern manufacturing systems supported by BaaN ERP, rigorous quality control and special purpose CNC machines ensure precision and flexibility. Computer and Communications technology integrates this with their marketing and distribution network; endorsed by their ISO 9001 certification. All towards one end; an amalgam of product and service that performs to satisfy the customer it serves.
Bharat Bijlee also markets single and three phase monobloc, centrifugal and submersible pumps for industry, agriculture and households. Broadly the motor range is categorised into the following 3 types :-
v Three Phase Ac Induction Motors
v Pumps
v Three Phase Ac Induction Motors
v Standard Squirrel Cage Tefc Motors
v Increased Safety Motors Ex (E)
v Shock Grade Motors for Warships
PUMPS
v Regenerative Self Priming Pumps
v Horizontal Monobloc Submersible Pumps
Transformers -
Introduction
For more than four decades Bharat Bijlee has been one of the leading manufacturers of transformers in India.
They enjoy one of the highest rates of repeat orders in the industry, and also
the highest level of "comfort of ownership" for their transformers.
A wide ranging technical collaboration between 1958 and 1996 with Siemens,
Germany laid the foundation of their design, manufacturing and quality systems,
upon which they consistently innovate to exceed customer needs.
The
last five years : a growth phase
Why
Bharat Bijlee Transformers ?
The last five years : a growth phase
A new state of the art plant has increased their capacity from 2000 MVA to 4500 MVA per annum.
Their product range has been extended to 160 MVA, 220 kV.
A custom built (ERP using Oracle Internet Developer Suite and RDBMS compliments their manufacturing processes)enables us to meet challenging delivery commitments.
Their customer base has grown significantly both in India and neighbouring countries.
ISO 9001 : 2000 certification.
Why Bharat Bijlee transformers?
Their 40 MVA, 220 kV transformer for NTPC was the first such transformer in India to withstand a short circuit test at CPRI.
In-house impulse testing facilities reduce execution time.
Shortest delivery times for customised transformers.
Sound processes ensure that their commitments to customers are always fulfilled.
A well established all-India marketing network ensures responsive pre-sales and after-sales services.
They have supplied transformers to all major Electricity Boards, power utilities, consultants and business houses.
ISO 9001 : 2000 certification from DNV.
Projects -
Introduction
From Products to Projects
BBL has been a key player in the country's power sector, setting standards of excellence for over five decades.
The Projects Division undertakes Turnkey Projects involving :-
Outdoor EHV & HV Switchyards upto and including 220 kV
Indoor Sub-stations, Overhead and Under Ground Distribution Systems
Industrial Electrification involving lighting and power distribution
Power System Study
Illumination Systems.
Power Evacuation Systems for Power Projects
From Yard to
Yardsticks
The division has a team of qualified engineers and managers with years of experience in the field of electrical project management. The association with their clients begins at the inception stage of a project and continues through to the planning, design and supply of system specifications. They work in close cooperation with consultants and clients in various inter-related activities such as analysing load and system requirements, formulating technical specifications and design parameters. After commissioning they continue their partnership by providing technical assistance and imparting training to customers in the operation and maintenance of systems.
Industrial Electronics Division - Introduction
OVER 450 DRIVES FOR SUGAR CENTRIFUGES
Bharat Bijlee's Industrial Electronics Division is the first and largest Indian manufacturer of microprocessor based variable speed drives for Batch-Type Sugar Centrifugal Machines.
Since 1985 : 300 AC Variable Voltage drives at 72 locations
Since 1997 : 150 Analogue DC Drives drives at 65 locations
Manufacture of Digital DC Drives commenced in November 2002 .
News
Bharat Bijlee
inaugurates new world-class Transformer factory
March 22, 2006 Mumbai - Bharat Bijlee Limited (BBL) inaugurated its new world-class facility for power transformers, enabling the Company to triple its manufacturing capability.
For the first time in India, PWRLEX, the new state-of the-art transformer plant
incorporates total pressurized air “clean room” environment, which enables the
manufacture of quality high voltage products. The entire flooring of the plant
is air cushion enabled which permits transformers weighing 200 tons to be moved
on a cushion of air by a single operator. The plant uses vapour phase drying,
vertical and horizontal winding machines, and has been designed for high
productivity, lower cycle times and high quality output. With this new
best-in-class addition, Bharat Bijlee now has the capacity to manufacture 8000
MVA per annum, placing the Company among the largest transformer manufacturers
in the country.
Says Mr. Nikhil J. Danani, Vice Chairman & Managing Director, Bharat Bijlee
Limited., “The divestment of their elevator business in 2004 has enabled us to
focus more on their core businesses: Motors & Transformers. With PWRLEX, they
now have a first of its kind, world-class transformer plant, which will not
only triple their current manufacturing capability, but also tremendously drive
their overall growth in response to an already existing demand.”
Adds Mr. Danani, " They are also currently exploring possibilities of
entry into allied areas of the Transmission and Distribution (High Voltage)
market through strategic international alliances and are in talks with
potential partners for the same."
One of the Company’s founding directors, Mr. Jaising R. Danani, who inaugurated
the new transformer plant said, “This is a true landmark in the six-decade
history of Bharat Bijlee, and a sure sign of aggressive growth for the Company
in the future.”
News
Bharat Bijlee's
Elevator Field Operations business to be transferred to M/s Tiger Elevator
Private. Limited.
The Committee of Directors of the Company constituted by the Board of Directors of the Company vide their Circular Resolution dated 13th August, 2004 authorised the Managing Directors, Mr. Nakul P. Mehta and Mr. Nikhil J. Danani to jointly and severally re-negotiate, discuss, execute and implement revised Scheme of Arrangement wherein all the specified assets and liabilities of its Elevator Field Operation Division would be transferred to Tiger Elevators Private. Limited. (a wholly owned subsidiary of Kone Elevators India Private. Limited).
Consequently the consideration has been re-negotiated and revised to 24,750,000
Preference shares of the face value of Rs.10/- each in the capital of Tiger
Elevators Private. Limited. and 990 Bonds A and 660- Bonds B of the face value
of Rs.50,000/- each to be issued by Tiger Elevators Private. Limited.
The Company has since received a ‘No Objection’ from the Stock Exchange, Mumbai
for the said revised Scheme of Arrangement which will be filed in the High
Court of Mumbai for its approval under Section 391-394 of the Companies Act,
1956.
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.44.22 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.58.47 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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 |
|