MIRA
INFORM REPORT
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Report Date : |
24.09.2007 |
IDENTIFICATION DETAILS
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Name : |
BNR EXPORTS |
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Registered Office : |
Plot No. 125-126, Jigani Link Road, IV Phase, Bommasandra Industrial
Area, Bangalore – 560 099, Karnataka |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1999 |
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Com. Reg. No.: |
MYB 14302 |
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IEC No.: |
0799005711 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB05619F |
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PAN No.: [Permanent
Account No.] |
ACLPM6054B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Turned and Machined Components, Machined Ferrous
and Non-Ferrous Castings, Assemblies and Sub-Assemblies, Pressed Components,
Jigs, Fixtures and Special Purpose Machines (SPM) |
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 119200 |
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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 concern having satisfactory track records. Proprietor
is reported as experienced and respectable businessman. Trade relations are
fair. Business is active. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. 125-126, Jigani Link Road, IV Phase, Bommasandra Industrial
Area, Bangalore – 560 099, Karnataka, India |
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Tel. No.: |
91-80-27833420/ 27833705/ 27832412/27832418 |
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Mobile No.: |
91-9900157152 |
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Fax No.: |
91-80-27833509 |
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E-Mail : |
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Website : |
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Area : |
6000 sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No. 125-126, Jigani Link Road, IV Phase, Bommasandra Industrial
Area, Bangalore – 560 099, Karnataka, India |
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Tel. No.: |
91-80-27833420/ 27833705/ 27832412 |
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Fax No.: |
91-80-27833509 |
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E-Mail : |
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Area : |
22000 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. B. R. Mohan |
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Designation : |
Sole Proprietor |
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Address : |
No. 308, 7th Block, IV Phase, III Stage, Banashankari, |
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Date of Birth/Age : |
43 Years |
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Qualification : |
Diploma in Mechanical Engineering |
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Experience : |
30 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Turned and Machined Components, Machined
Ferrous and Non-Ferrous Castings, Assemblies and Sub-Assemblies, Pressed
Components, Jigs, Fixtures and Special Purpose Machines (SPM) |
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Products : |
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Exports : |
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Products : |
Turned and Machined Components |
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Countries : |
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Imports : |
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Products : |
Steel, Stainless Steel and Aluminium Raw Material, Machine Tools |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit upto 30-60 days basis |
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Purchasing : |
L/C, Cash basis |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Some of major customer includes:
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No. of Employees : |
Around 130 (In Office – 15 and In Factory – 115) |
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Bankers : |
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Facilities : |
Working Capital Rs. 7.500 millions and Term Loan Rs. 6.032 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chartered Accountants
Chartered Accountants
Chartered Accountants |
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Address : |
SF7, Business Point, 137, |
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Tel. No.: |
91-80-22237045 |
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Fax No.: |
91-80-22237045 |
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E-Mail : |
CAPITAL STRUCTURE
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Capital Investment : |
Rs. 30.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Proprietor Capital |
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29.801 |
22.854 |
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NETWORTH |
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29.801 |
22.854 |
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LOAN FUNDS |
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1] Secured Loans |
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17.969 |
21.011 |
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2] Unsecured Loans |
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5.290 |
2.458 |
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TOTAL BORROWING |
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23.259 |
23.469 |
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TOTAL |
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53.060 |
46.323 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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45.190 |
42.157 |
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Capital work-in-progress |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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5.831 |
3.642 |
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Sundry Debtors |
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14.081 |
3.661 |
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Cash & Bank Balances |
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0.058 |
0.122 |
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Other Current Assets |
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6.710 |
2.458 |
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Total
Current Assets |
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26.680 |
9.883 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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18.810 |
5.717 |
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Total
Current Liabilities |
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18.810 |
5.717 |
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Net Current Assets |
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7.870 |
4.166 |
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TOTAL |
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53.060 |
46.323 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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43.689 |
35.772 |
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Other Income |
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0.844 |
0.022 |
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Total Income |
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44.533 |
35.794 |
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Profit/(Loss) Before Tax |
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6.398 |
7.019 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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6.398 |
7.019 |
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Total Earnings |
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100% |
100% |
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Imports : |
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Raw Materials |
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17.124 |
13.018 |
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Capital Goods |
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8.162 |
21.721 |
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Total Imports |
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25.286 |
34.739 |
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Expenditures : |
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Cost of Goods Sold |
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27.408 |
22.776 |
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Manufacturing Expenses |
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7.488 |
2.512 |
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Administrative Expenses |
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3.481 |
3.231 |
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Interest |
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2.069 |
2.144 |
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Depreciation & Amortization |
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5.129 |
5.827 |
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Other Expenditure |
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2.843 |
2.043 |
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Total Expenditure |
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48.418 |
38.533 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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14.36 |
19.61 |
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Net Profit Margin (PBT/Sales) |
(%) |
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14.64 |
19.62 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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8.90 |
13.48 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21 |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.41 |
2.27 |
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Current Ratio (Current Asset/Current Liability) |
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1.42 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Rajshree
Impex, Mumbai,
- Southem and
Company,
- GS Rao and
Company,
- Cariappa and
Company,
As Per Web:
History :
Established in 1956, BNR was founded by Mr. Raju Mudaliar, who pioneered manufacturing of precision turned components. From this humble beginning the company has grown and built up a reputation for quality engineering and service. BNR Group today is a conglomerate of companies manufacturing wide range of components catering to variety of industrial verticals like Automobile, Aerospace, Earth Moving Equipment, Electrical, Industrial Values, Power Tool, Pump, Machine Tools, Defence, Medical & Metal Forming etc.
Profile :
In a world where precision is achieved or marred by a fraction
of Microns, the BNR Group has been catering to the precision engineering needs
of innumerable industrial houses in
With a plot area of 1,32,000 Sqft. & built up area of 30,000 Sqft. and several CNC Machining and Turning Centers, the BNR Group is today a name to reckon with in the world of precision machining. The range of quality products speak volumes for its capabilities. The company is extremely versatile in it's production techniques, making medium to large components down to the small precise components. The company whilst having to adapt to the changing economic conditions, are still producing precision engineered components to the highest standard using modern CNC, SLIDING HEAD AUTOMATICS conventional SWISS SLIDING HEAD AUTOMATICS and CAPSTAN LATHES.
Their fundamental business strategy is building long-term client relationships. With more than 5 decades in the industry, they have attracted and retained clients by providing superior customer value and customized components. This strategy yields cost advantages, profits, and growth for us, allowing us to fuel further growth. The combination of a loyal client base and steady growth enables us to attract and retain the industry's top talent. As a result of this sound business strategy, they are prospering in diverse markets, worldwide.
Little wonder that the BNR Group has been recognized with the ISO 9001:2000
certification.
BNR ADVANTAGE
- At BNR, you will receive global quality products that would exceed the expectations, at a competitive price.
- Prompt customer response with minimal tool development lead time.
- In
house facility for Design, Tool room with CNC Turning and
- Stringent Quality Standards.
And, this really sums up the BNR advantages
They manufacture :
Precision
Turned / Machined Components
Screw Machined Turned Components
Machined Ferrous / Non Ferrous Castings
Machined Forgings
Machined Fabrications / Weldments
Precision Assemblies and Sub Assemblies
Precision Stamped Components
Precision Jigs And Fixtures
SPM ( Special Purpose Machines )
All types of Machined Components of any magnitude.
The range of
products are supplied to various large Industrial Houses in
v Automobile
v Aerospace / Defence
v Industrial Valves / Pumps
v Earth Moving Equipment
v Medical Systems
v Machine Tool
v Power Tool
v Electrical
v
Radar, etc.
They are exporting their product range to
Since they would like to enlarge their business in a wider spectrum, they have
created spare capacity in field, and would undertake to manufacture the items
of any magnitude in engineering line.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.87 |
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1 |
Rs.80.11 |
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Euro |
1 |
Rs.56.19 |
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 |
6 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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60 |
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
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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 |
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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 |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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