MIRA
INFORM REPORT
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Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
BTM FORGINGS
PRIVATE LIMITED |
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Registered Office : |
N-4, 1st
Gate, Industrial Area, Gokul Road, Hubli – 580030, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.07.2005 |
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Com. Reg. No.: |
08-036749 |
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CIN No.: [Company
Identification No.] |
U28910KA2005PTC036749 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB06259B |
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PAN No.: [Permanent
Account No.] |
AACCB6901C |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Manufacturer of forgings for the Automotive
and Engineering Industries. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Maximum Credit Limit : |
USD 13272 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and had not commenced commercial operations
as per its first financials. No further details could be made available. The company can be considered for any business dealings on fully safe
and secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
N-4, 1st
Gate, Industrial Area, Gokul Road, Hubli – 580030, Karnataka, India |
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Tel. No.: |
91-836-2334769 /
2334789 |
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Mobile No.: |
91-9341693838 |
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Fax No.: |
91-836-2236590 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Srinivas V.
Mane |
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Designation : |
Director |
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Address : |
B T M , House 6,
Vijaynagar, Hubli, Dharwar– 580032,
Karnataka |
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Date of Birth/Age : |
06.08.1974 |
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Date of Appointment : |
11.07.2005 |
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Name : |
Mr. Girish V.
Mane |
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Designation : |
Director |
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Address : |
B T M , House 6,
Vijaynagar, Hubli, Dharwar– 580032,
Karnataka |
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Date of Birth/Age : |
06.09.1975 |
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Date of Appointment : |
11.07.2005 |
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Name : |
Mr. Vijay V. Mane
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Designation : |
Director |
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Address : |
No. 6, Vijaynagar, Hubli – 580032 |
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Date of Appointment : |
11.07.2005 |
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Name : |
Mr. Shylendra
Kumar T. R. |
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Designation : |
Company Secretary
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Address : |
No. 82, Dr. Raj
Kumar Roadm Prakalhnagar, Bangalore - 560021 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Srinivas V. Mane |
500 |
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Mr. Girish V.
Mane |
500 |
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Mr. Vijay V. Mane |
500 |
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Total
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1500 |
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Equity Share
Breakup |
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Directors or Relatives of Directors |
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100.00 |
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Total
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100
% |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of forgings for the Automotive
and Engineering Industries. |
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Products : |
v
Valve Bodies and Bonnet v
Flanges v
Shafts v
Gears v
Precision Valve Components v
Precision Auto Components |
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GENERAL
INFORMATION
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No. of Employees : |
10 |
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Bankers : |
Vijaya Bank SME Branch, Gokul Road, hubli – 580030,
Karnataka |
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Facilities : |
---- |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
H. N. Adinavar and company Chartered Accountant |
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Address : |
No. 51-52, 2nd Floor, Eureka Centre, Koppikar Road, Hubli –
580020, Karnataka |
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Memberships : |
Chamber of Commerce, NSSIA |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Share |
Rs.100/- Each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,500 |
Equity Share |
Rs.100/- Each |
Rs.0.150million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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11.07.2005 to
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.150 |
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2] Share Application Money |
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3.168 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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3.318 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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3.318 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.269 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.316 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.450 |
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Total
Current Assets |
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0.766 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.000 |
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Net Current Assets |
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0.766 |
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MISCELLANEOUS EXPENSES |
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0.283 |
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TOTAL |
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3.318 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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11.07.2005 to
31.03.2006 |
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Sales Turnover |
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N.A. |
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Other Income |
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N.A. |
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Total Income |
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N.A. |
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Profit/(Loss) Before Tax |
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N.A. |
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Provision for Taxation |
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N.A. |
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Profit/(Loss) After Tax |
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N.A. |
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Pre-operative Expenses |
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Bank Charges |
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0.003 |
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Designing and Testing Expenses |
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0.004 |
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Electrical Expenses |
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0.000 |
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Printing and Stationery |
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0.002 |
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Personnel Expenses |
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0.120 |
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Travelling and Conveyance |
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0.028 |
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Total |
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0.157 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Corporate
identity number (CIN) Foreign company registration number |
U28910KA2005PTC0367 |
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Name of the
Company |
BTM FORGINGS
PRIVATE LIMITED |
|
Address |
N-4, 1st
Gate, Industrial Area, Gokul Road, Hubli – 580030, Karnataka |
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This form is for |
Creation of
Charge |
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Type of Charge |
Immovable
Property |
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Particulars of
the charge holder |
Vijaya Bank Same Branch,
Gokul Road, hubli – 580030, Karnataka Email Id :
hub.ro.91102VIJAYABANK.com |
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Nature or
description of the instrument creating or modifying the charge. |
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Amount secured by
the charge |
Rs.1.000 millions
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Brief of the
principal terms and conditions |
Rate of
Interest - 11.75 % PA Terms of
Repayment - 60 Emi of Rs.0.022 million Margin - 25% Extent and operation
of the charge - Till full repayment |
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Short Particular
of the Property Charged |
All that piece
and parcel of land and building existing and / or to be constructed there on
bearing survey no. R.S. 65 measuring 4064 Sq. Ft. situated at Tarihal, Hubli,
Dist – Dharwad |
Application
of Forgings
Forgings
are used in a number of applications encompassing the automobiles, engineering,
chemicals, fertilizers, refineries, paper mills, petrochemicals, pharmaceuticals,
power plants and many other industries. In every manufacturing unit where
transportation of liquid or gaseous material is a part of manufacturing
process, the piping network is there that requires suitable fittings at turns
and joints. Forging technique produces most of these fittings depending upon
pipeline and smoothens the operations and flow.
Features
v
They
offer their products in both small and bulk quantity
v
Latest
machinery is used to give the desired results to the clients
v
Production
process in accordance with international standard quality norms
v
Huge
production capability
v
Quick
order processing
v
Distribution
to the worldwide market
v
Excellent
coordination of the team comprising competent and dedicated professionals
v
Their
range of products are in compliance to exact requirements of clients
v
Their
products are consistent in quality with smooth finishing
v
Extra
attention is paid to make their products flawless, free from burr, rust or any
cracks.
Quality
Their
ultimate goal is client's satisfaction by providing superior quality products
at the most reasonable prices. Quality is the lifeline of their business, hence
its assurance is imbibed in their products. Every process in their unit passes
through the hands of experts and there is no room for compromise on any front
of quality. The finishing of their products is undisputable and the better
prices make them the best possible deal available in the market to grab.
Infrastructure
Their
infrastructural set up is one of the biggest strength in achieving their
desired results. The perfect amalgamation of the state of the art
machinery and their team of highly qualified professionals enables their
products to drag the reluctant clientelle into the deal. They keep on upgrading
their machinery regularly giving them an edge over their competitors. Apart
from upgradation of machinery, they have their R&D department that
regularly keeps a vigil on the technological aspect. Their strong equation
between the machines and workforce helps them to well adapt and flourish their
imagination with the engineering giving birth to a product unanimously desired
by each of their valued clients.
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 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.39.40 |
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UK Pound |
1 |
Rs.81.12 |
|
Euro |
1 |
Rs.56.69 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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14 |
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 |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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