MIRA
INFORM REPORT
|
Report Date : |
16.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BSBK ENGINEERS PRIVATE LIMITED |
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Registered Office : |
Beekay House L 8, Green Park, Extension, New Delhi – 110016 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.07.1985 |
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Com. Reg. No.: |
55-021596 |
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CIN No.: [Company
Identification No.] |
U74210DL1985PTC021596 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB00789F |
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PAN No.: [Permanent
Account No.] |
AAACB0233F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Construction Products And Equipment ,
Dies, Moulds, Mouldings And Casting , Service Industries |
RATING &
COMMENTS
|
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 164220 |
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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 and reputed company having
satisfactory track records. Trade relations are fair. Business is active.
Payments are reported as 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/ Head Office : |
Beekay House L 8, Green Park, Extension, New Delhi – 110016, India |
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Tel. No.: |
91-11-42224222 (30 Lines) / 26193396 (4 lines) |
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Fax No.: |
91-11-42224333 / 42224444 / 6192566 / 6193637 |
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E-Mail : |
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Website : |
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Factory : |
Greater Noida, Surajpur Industrial Area, District Gautam Budh Nagar,
Uttar Pradesh – 201306, India |
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Tel. No.: |
91-120-2560235/ 2560311/ 2560313 |
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Fax No.: |
91-120-2569546 |
DIRECTORS
|
Name : |
Mr. Ajay Kumar |
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Designation : |
Chairman |
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Address : |
C-4/43, Safdarjung Development Area, New Delhi – 110016, India |
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Date of Birth/Age : |
10.05.1948 |
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Date of Appointment : |
29.07.1985 |
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Name : |
Mr. Rohit Kumar Gupta |
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Designation : |
Managing Director |
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Address : |
C-5/27, Safdarjung Development Area, New Delhi – 110016, India |
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Date of Birth/Age : |
19.04.1952 |
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Date of Appointment : |
29.07.1985 |
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Name : |
Mr. Gautam Gupta |
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Designation : |
Director |
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Address : |
C-4/43, Safdarjung Development Area, New Delhi – 110016, India |
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Date of Birth/Age : |
29.04.1977 |
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Date of Appointment : |
23.07.1999 |
KEY EXECUTIVES
|
Name : |
M/s Soumendra Das and Associates |
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Designation : |
Company Secretary |
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Address : |
Flat No. 93C, DDA Flats, Pocket II, Sector VI, Dwarka , New Delhi –
110 075, India |
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Mobile No.: |
91-9810405481 / 9871962615 |
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Fax No.: |
91-11-26145222 |
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Email: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
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No. of Shares |
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Mr. Ajay Kumar |
|
52500 |
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Mrs. Poonam Gupta |
|
9000 |
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Mr. Gautam Gupta |
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30000 |
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Mr. Rohit K. Gupta |
|
30000 |
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Mr. Ajay Kumar (HUF) |
|
30000 |
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Mrs. Neeta Gupta |
|
52500 |
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M/s. R K Gupta and Sons (HUF) |
|
9000 |
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Mr. Rajat Gupta |
|
9000 |
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Mr. Rohan Gupta |
|
9000 |
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Mr. Rahul Gupta |
|
9000 |
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Mr. Karan Gupta |
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30000 |
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Mrs. Ekta Gupta |
|
15000 |
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Mrs. Shradha Gupta |
|
15000 |
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Total |
|
300000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Construction Products And Equipment ,
Dies, Moulds, Mouldings And Casting , Service Industries |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Hauz Khas Branch, New Delhi – 110016,
India |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
P K Agarwal and Company Chartered Accountant |
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Address : |
107, Durga Chambers, 1333 D B Gupta Road, Karol Bagh New Delhi –
110005, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
3.000 |
3.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
38.055 |
28.100 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
41.055 |
31.100 |
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|
LOAN FUNDS |
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1] Secured Loans |
|
23.344 |
10.373 |
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2] Unsecured Loans |
|
45.691 |
1.533 |
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TOTAL BORROWING |
|
69.035 |
11.906 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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110.090 |
43.006 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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18.228 |
17.820 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
2.309 |
1.600 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
14.094 |
17.351 |
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Sundry Debtors |
|
98.847 |
83.652 |
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Cash & Bank Balances |
|
10.859 |
9.068 |
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Other Current Assets |
|
1.911 |
8.174 |
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Loans & Advances |
|
10.381 |
7.733 |
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Total
Current Assets |
|
136.092 |
125.978 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
37.337 |
95.588 |
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Provisions |
|
9.894 |
6.804 |
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Total
Current Liabilities |
|
47.231 |
102.392 |
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Net Current Assets |
|
88.861 |
23.586 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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Capital Advance |
|
0.692 |
0.000 |
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TOTAL |
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110.090 |
43.006 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
262.430 |
103.972 |
62.215 |
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Other Income |
0.000 |
119.815 |
22.663 |
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Total Income |
262.430 |
223.787 |
84.878 |
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Profit/(Loss) Before Tax |
14.742 |
7.521 |
2.653 |
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Provision for Taxation |
4.787 |
2.674 |
0.919 |
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Profit/(Loss) After Tax |
9.955 |
4.847 |
1.734 |
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Export Value |
1.601 |
13.297 |
NA |
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Import Value |
0.734 |
12.689 |
NA |
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Expenditures : |
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Financial Charges |
0.000 |
1.166 |
1.205 |
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Other Expenditure |
247.688 |
213.934 |
79.815 |
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Total Expenditure |
247.688 |
215.100 |
81.020 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
3.79
|
2.16 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.62
|
7.23 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.41
|
5.17 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.83 |
3.69 |
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Current Ratio (Current Asset/Current Liability) |
|
2.88 |
1.23 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U74210DL1985PTC021596 |
|
Name of the
Company |
BSBK ENGINEERS PRIVATE LIMITED |
|
Address |
Beekay House L 8, Green Park, Extension, New Delhi – 110016, India |
|
This form is for |
Creation of
Charge |
|
Type of Charge |
Book Debts Movable Property
(not being pledge) Bank Guarantee |
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Particulars of
the charge holder |
Syndicate Bank Hauz Khas Branch, New Delhi – 110016, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Composite
Hypothecation Agreement |
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Date of the instrument
creating or modifying the charge |
05.10.2007 |
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Amount secured by
the charge |
Rs.200.000
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: Interests/Commission
as per sanction terms and or at such other rates a may by specified by the
bank from time to time Terms of
repayment: As per sanction
terms Margin: 100% Extent and
operation of the charges: The hypothecation
assets to secure BG limit of Rs.200.000 Millions granted to the company |
|
Short particulars
of the property charged (including location of the property) |
Hypothecation of
stock of raw materials, work in progress, spares finished goods etc. and collaterally
secured by all existing present and future plant and machinery etc. of the
company to be stored/ installed at Plot No.30 Village Surajpur, Gautam Budh
Nagar, Uttar Pradesh, and all present and future book debts receivable of the
company. |
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Particular of the
present modification |
NA |
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Name of the company |
BSBK ENGINEERS PRIVATE LIMITED |
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Presented By |
Syndicate Bank Hauz Khas Branch, New Delhi – 110016, India |
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1) Date and description of instrument creating the change |
Deed of
Hypothecation of Machinery dated 27.01.2000, registered on 25.02.2000,
Modified on 20.09.2003 and finally on 21.11.2005 to reduce BG limit from
Rs.95.000 Millions to Rs.40.000 Millions with INLC/FLC limit of Rs.5.000
Millions and co-acceptance limit of Rs.5.000 Millions as sub limit
modification registered on 21.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.60.000
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 machinery of
the company as detailed in annexure to the schedule of the Deed planted and
fitted at 30, surajpur Industrial Area, Ghaziabad and also any other
machinery that the borrower may bring in and fit in the said premises
hereafter. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure a Bank Guarantee limit of Rs.60.000 Millions granted to the company with
the following sub limit :- FLC/ILC Rs.5.000 Millions Co-acceptances Rs.5.000 Millions The Deed of
Hypothecation has been executed for Rs.66.500 Millions for including limit of
Rs.6.500 Millions for which these machinery will continue to be available as
collateral security. All amount made
payable by the Bank under the said limits shall carry interests@ 19.38% p.a.
or at any liability under the said limits. |
|
5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank Hauz Khas Branch, New Delhi – 110016, India |
|
6) Date and brief description of instrument modifying the charge |
Composite
Hypothecation Agreement dated 10.01.2006 and omnibus counter Guarantee dated
10.01.2006 for Rs.50.000 Millions |
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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. |
The charge on
stock of all goods, Book debts and all machinery of the company as detailed
in annexure to part C of Schedule III of the Agreement stored/ installed at
company works at plot No.38, Village Sujarpur, Dadri Gutam Budh Nagar, Uttar
Pradesh, or at the any other places including those in transit stand enhance
from Rs.40.000 Millions to Rs.50.000 Millions to secureall amount made
payable by the Bank under Bank guarantee limit of Rs, 50.000 Millions
together with all interests costs, charges, expenses, commission etc. Other Terms and
conditions remained. |
Profile:
BSBK GROUP started its activities way back in 1918 in the field of Civil Engineering and Construction and gradually diversified into
other fields. Today the widespread engineering services that the Group offers span
diverse fields like, Bottom and Fly Ash handling systems, Dense Phase Pneumatic
Conveying Systems for bulk materials, High Concentration Slurry Disposal
System, Traveling Water Screens etc. These services cover all activities involved
in a project right from concept to commissioning.
Note:
The company has technical collaboration with
Detroit Stoker, USA
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.39.96 |
|
UK Pound |
1 |
Rs.78.71 |
|
Euro |
1 |
Rs.63.22 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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. |
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 |
|