MIRA
INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
H N B ENGINEERS PRIVATE LIMITED |
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Formerly Known As : |
H. N. BHAT AND COMPANY ENGINEERS PRIVATE LIMITED |
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Registered Office : |
Henabh Centre, 1326 Shukrawar
Peth, Near Telephone Exchange, Office Bajirao Road, Natu Baug, Pune – 411002,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.05.2005 |
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Com. Reg. No.: |
020745 |
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CIN No.: [Company
Identification No.] |
U29299PN2005PTC020745 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Civil Engineers and Contractors |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 220000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established civil engineers and contractors. Trade relations are fair. Financial position if satisfactory. Payments are usually correct and as per commitments. The company can be considered good for normal business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Henabh Centre, 1326 Shukrawar Peth,
Near Telephone Exchange, Office Bajirao Road, Natu Baug, Pune – 411002,
Maharashtra, India |
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Tel. No.: |
91-20-24473299/ 24477142 |
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Mobile No.: |
91-9422012247 |
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Fax No.: |
91-20-24473185 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Hemant Nagesh
Bhat |
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Designation : |
Director |
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Address : |
1326, Shukrawar Peth, Pune – 411002, Maharashtra, India |
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Date of Birth/Age : |
27.04.1950 |
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Qualification : |
Civil Engineer |
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Date of Appointment : |
17.05.2005 |
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Name : |
Ms. Suvarna Hemant
Bhat |
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Designation : |
Direcor |
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Address : |
1326, Shukrawar Peth, Pune – 411002, Maharashtra, India |
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Name : |
Mrs. Sheela
Ravindra Bhat |
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Designation : |
Director |
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Address : |
6 Navshantiban, 1134/2, Shivajinagar, Pune – 411016,
Maharashtra, India |
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Name : |
Mr. Ravindra
Dattatraya Bhat |
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Designation : |
Director |
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Address : |
6 Navshantiban, 1134/2, Shivajinagar, Pune – 411016,
Maharashtra, India |
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Name : |
Mr. Ajit Ravindra
Bhat |
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Designation : |
Director |
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Address : |
6 Navshantiban, 1134/2, Shivajinagar, Pune – 411016,
Maharashtra, India |
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Name : |
Mr. Dhananjay
Govind Bhide |
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Designation : |
Director |
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Address : |
15 Gandharva Apartment, S. No.28, Erandawanr, Pune –
411004, Maharashtra, India |
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Name : |
Mrs. Sushama D.
Bhide |
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Designation : |
Director |
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Address : |
15 Gandharva Apartment, S. No.28, Erandawanr, Pune –
411004, Maharashtra, India |
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Name : |
Ms. Aditya Hemant
Bhat |
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Designation : |
Director |
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Address : |
1326, Shukrawar Peth, Pune – 411002, Maharashtra, India |
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Name : |
Ms. Prachi H. Bhat |
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Designation : |
Director |
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Address : |
1326, Shukrawar Peth, Pune – 411002, Maharashtra, India |
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Name : |
Mr. Subodh M.
Nandode |
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Designation : |
Director |
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Address : |
864 Basant Bahar Housing Society, S. No.97, Gokhale Nagar,
Model Colony, Pune – 411016, Maharashtra, India |
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Date of Birth/Age : |
03.11.1967 |
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Date of Appointment : |
17.01.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As On
16.05.2005)
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Names of
Shareholders |
No. of Shares |
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Mr. Hemant N.
Bhat |
6000 |
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Mr. Ranjana H.
Bhat |
1000 |
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Miss. Suvarna H.
Bhat |
1000 |
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Mrs. Sheela R.
Bhat |
1000 |
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Mr. R. D. Bhat |
250 |
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Mr. Ajit R. Bhat |
250 |
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Mr. D. G. Bhide |
250 |
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Mrs. Sushama D.
Bhide |
250 |
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Ms. Aditya H.
Bhat |
1250 |
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Miss Prachi H.
Bhat |
1250 |
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Total |
12500 |
Equity Share Breakup (Percentage of Total Equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors
or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Civil Engineers and Contractors |
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Brand Names : |
“HENABH” |
GENERAL INFORMATION
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No. of Employees : |
32 |
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Bankers : |
Bank of Maharashtra Tilak Road Branch, Pune – 411030, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Joshi and Sahney Chartered Accountant |
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Address : |
1913 Sadashiv Peth, Natu Baug, Pune – 411030, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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100000 |
Preference Shares |
Rs.100/- each |
Rs.10.000 Millions |
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Total |
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Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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37500 |
Equity Shares |
Rs.100/- each |
Rs.3.750 Millions |
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100000 |
Preference Shares |
Rs.100/- each |
Rs.10.000 Millions |
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Total |
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Rs.13.750 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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13.750 |
1.250 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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30.135 |
14.737 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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43.885 |
15.987 |
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LOAN FUNDS |
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1] Secured Loans |
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83.573 |
43.343 |
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2] Unsecured Loans |
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21.264 |
44.277 |
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TOTAL BORROWING |
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104.837 |
87.620 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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148.722 |
103.607 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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29.504 |
16.707 |
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Capital work-in-progress |
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1.100 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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1.975 |
0.830 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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54.907 |
31.806 |
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Sundry Debtors |
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41.023 |
18.571 |
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Cash & Bank Balances |
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23.425 |
24.157 |
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Other Current Assets |
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1.048 |
0.459 |
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Loans & Advances |
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70.536 |
27.103 |
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Total
Current Assets |
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190.939
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102.096 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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53.673 |
11.329 |
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Provisions |
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21.123
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4.597 |
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Total
Current Liabilities |
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74.796 |
15.926 |
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Net Current Assets |
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116.143 |
86.170 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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148.722 |
103.607 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover
(Estimated) |
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200.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
Debt Equity Ratio
(Total Liability/Networth)
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4.09
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6.48 |
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Current Ratio
(Current Asset/Current Liability)
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2.55
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6.41 |
LOCAL AGENCY
FURTHER INFORMATION
Website Details:
Profile
Subject is a conversion of a well known firm H.N. BHAT & CO. The firm established in 1973 with the intentions to execute quality civil works by the technically sound partners, having Head Office at Pune, Maharashtra, India.
Since the day of establishment, i.e. from last 35 years, the Company is executing works in various fields of Civil Engineering with excellent quality, high speed and absolute economy to the entire satisfaction of the Clients in India.
The Company has achieved special capacities particularly in the fields of Environmental Engineering and has vast experience in the fields of Wastewater Treatment, Its Disposal and Reuse.
TURNKEY CONTRACTORS engaged in the fields of Water and Wastewater Treatment. They have all facilities under one roof like Civil, Mechanical (which consists manufacturing of Pollution Control Equipment’s and Non Clog and Process Pumps), Electrical and Instrumentation of various equipment’s which facilitates and justifies the meaning TURNKEY to its real sense.
During February 2008 they completed and commissioned a Sewage Treatment Plant of 100 MLD capacity at Vashi for Navi Mumbai Municipal Corporation, which is based on SBR Technology. They are very proud to state that they are the first in country to bring in SBR Technology and implement it successfully. The first plant of 12.5 MLD capacity based on this technology is located at Panaji, Goa and is constructed for P.W.D., Govt. of Goa during 2003. The plant is performing to the entire satisfaction of client and delivering good results.
Presently they are executing the works of Sewage Treatment Plants of 30 MLD capacity at Chinchwad and 20 MLD capacities at Rawet, both based on SBR Technology and plant is constructed for Pimpri Chinchwad Municipal Corporation.
They have also constructed plant of 20 MLD capacities on Bio-Tower Technology at Pimple Nilakh, Pune. They hold a Patent for improvement of Bio-Tower Technology which enables very high saving in power while occupies very less area. They hold expertise in Conventional Activated Sludge Process Technology, SBR Technology, Bio-Tower Technology, Corrousal Tank Technology and Extended Aeration Technology, i.e. most of aerobic waste treatment are successfully designed and handled by them. In short, their experience in handling sewage for its treatment is to the tune of 400 MLD and same for the effluent is around 45 MLD. Their contribution to Water Treatment is about 35 MLD flow.
Their vast experience and contribution to society in protection of environment enabled registration in CLASS - I with many organizations like Maharashtra State Government (P.W.D.), Govt. of Goa, Maharashtra Jeevan Pradhikaran, Bangalore Water Supply and Sewerage Board etc.
They also manufacture varieties of Pollution Control Equipments and Construction Equipments under the name and style “H N B ENGINERRS PRIVATE LIMITED.”, this help their client to have one point responsibility. The brand “HENABH” is well approved by many Govt. Departments / Consultants.
They are also having wide experience in the fields of Industrial & Residential constructions, roads, Bridges, Culverts, GSR, ESR etc. They have completed various projects of large magnitude to the utmost satisfaction of the 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.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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 |
|
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 |
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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 |
|
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 |
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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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