MIRA INFORM REPORT

Report Date :

13.05.2008

IDENTIFICATION DETAILS

Name :	BHILAI ENGINEERING CORPORATION LIMITED
Registered Office :	Hathkoj Village, Industrial Area, Bhilai, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2007
Date of Incorporation :	03.12.1960
Com. Reg. No.:	10-913
CIN No.: [Company Identification No.]	L29111CT1960PLC000913
TAN No.: [Tax Deduction & Collection Account No.]	JBPB00010D
Legal Form :	Public Limited Liability Company. The company shares are listed on the Stock Exchange.
Line of Business :	Manufacturing and Selling of Grey Iron Castings, Carbon Alloy, Steel Castings, Equipments, Single Super Phosphate, Sulphuric Acid, Sodium Flouride, Plant Growth Regulators, Acid Slurry, Trigger, Fabricated Steel Structural, Tomato, Papaya, Mango Pulps and Concentrates.

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 1700000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established, diversified company having satisfactory track. Financial position of the company is satisfactory. Payments are usually correct and as per commitments. Payments are reported as slow by average 30 days. The company can be considered normal for business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office :	Hathkoj Village, Industrial Area, Bhilai, Madhya Pradesh, India
Tel. No.:	91-788-2381134 / 2381135 / 2381136 / 2381137 / 2381138 / 2385001
Fax No.:	91-788-2381140 / 2381141
E-Mail :	bocltd@sancharnet.in bec@bec-group.com bec_bhilai@rediffmail.com becakash@sancharnet.com
Website :	http://www.bec-group.com
Head Office :	39/2, Nehrunagar East, Bhilai 490022, Madhya Pradesh, India
Tel No.:	91-788-2292352, 2292281, 2292179, 2393294
Fax No.:	91-788-2292814
Corporate Office :	31, Maker Chambers III, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-2871331/2831724/2043647/2844208/22883768/22816859
Fax No.:	91-22-2873611
E-Mail :	bec@bec-group.com
Factory :	v Hathkoj Village, Industrial Area, Bhilai, Madhya Pradesh, India v BEC Fertilizers, Sirgitti Industrial Complex, Bilaspur, Madhya Pradesh, India v BEC (Projects Division), Urla Industrial Area, Raipur, Madhya Pradesh, India v BEC Foods, Village Kuthrel, PO Anda, Durg, Madhya Pradesh, India v BEC Fertilizers II, Village Kuthrel, Tulja Deoli, Pulgaon – Dist Wardha v BEC Fertilizers II, Village – Gunjkheda, Taluka- Deopli, Pulgaon- District, Wardha (MS) v 283-292 Uria Industrial Area, Uria, Raipur, Madhya Pradesh, India Phones: 91-771-323293, 323294, 323295
Branches :	Bhopal: 40, Kalpana Nagar, Bhopal 462 02, India Tele Fax: 91-755-2680707 Mobile: 91-9827059287 Nagpur: L-2 MIDC, Hingna Road, Nagpur 440016, India Phones: 91-7104-237642, 232068 Fax: 91-7104-237571
Engineering Division	v Post Box No. 31, Bhilai 490 001, Madhya Pradesh India
Tel No.:	91-788-2285001 / 5
Fax No.:	91-788-2381141
Foods Division	BEC Foods, Village Kuthrel, Dist. Durg 491001 Phones: 91-788-2611501 / 00 Fax: 91-788-2611502 BEC Fertilizers Sector A, Sirgitti Industrial Area, Bilaspur (C.G.) 495004 Phones: 91-7752-223516, 238909, 238908, 237034, 505442 Fax: 91-7752-222125
Regional Offices:	New Delhi: BEC House, 13 Masjid Moth, D.D.A. Commercial Complex, New Delhi 110 048, India Phones: 91-11- 29227142 / 50 Fax: 91-11-29229076, 29226954 Mumbai: 31 Maker Chamber III, 3rd Floor, Nariman Point, Bombay 400 021, Maharashtra, India Phones: 91-22-22831724, 22844208, 22883768, 22816859 Fax: 91-22-22873611 E-mail: bec@bec-group.com Calcutta: 4B Little Russel Street, 2nd Floor, Calcutta 700 071, West Bengal, India Phones: 91-33-22827606, 22823372 Fax: 91-33-22827061 E-Mail:  beccal@cal2.vsnl.net.in Chennai: 19, North Mada Street, Srinagar Colony, Saidapet, Chennai 600 015, T. N., India Phone: 91-44-22302040 / 22301703 Fax: 91-44-22301703

DIRECTORS

Name :	Mr. Balwant Rai Jain
Designation :	Director
Address :	63, Nehru Nagar [East], Bhilai, Durg – 490020, Chattisgarh, India
Date of Birth/Age :	30.09.1924
Date of Appointment :	20.09.2001
Name :	Mr. Narendra Kumar Jain
Designation :	Director
Address :	14 Link Road, Jangpura Extension New Delhi, India
Date of Birth/Age :	15.01.1936
Date of Appointment :	29.09.2001
Name :	Mr. Surendra Kumar Jain
Designation :	Director
Address :	13 Masjid Moth Commercial Complex, New Delhi, India
Date of Birth/Age :	24.04.1942
Date of Appointment :	29.09.2001
Name :	Mr. Arvind Kumar Jain
Designation :	Joint Managing Director
Address :	43 Nehru nagar Bhilai, Durg – 490020, Chhattisgarh, India
Date of Birth/Age :	31.10.1946
Date of Appointment :	30.04.2007
Name :	Mr. Veenu Jain
Designation :	Joint Managing Director
Address :	31 Maker Chambers, 3^rd Floor Nariman Point, Mumbai – 400021, Maharashtra, India
Date of Birth/Age :	30.09.1954
Date of Appointment :	29.09.1979
Name :	Mr. Pramod Kumar Jain
Designation :	Director
Address :	41/1, Nehru Nagar [East], Bhilai, Durg – 490020, Chharrisgarh, India
Date of Birth/Age :	31.07.1947
Date of Appointment :	25.08.1986
Name :	Mr. Ashish Jain
Designation :	Director
Address :	43, Nehru Nagar [East], Bhilai, Durg – 490020, Chharrisgarh, India
Date of Birth/Age :	27.02.1976
Date of Appointment :	30.09.2000

KEY EXECUTIVES

Name :	Mr. Satya Prakash Gupta
Designation :	Company Secretary
Address :	32/8, Nehru Nagar [West], Bhilai, Durg – 490020, Chharrisgarh, India
Date of Birth/Age :	02.02.1960
Date of Appointment :	01.08.2002

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders (31.03.2007)	No. of Shares	Percentage of Holding
Promoters	107269	2.27%
Non Residents Indians/ Overseas Corporate bodies	----	----
Foreign Companies	----	----
UTI and Mutual Fund	99999	2.12%
Bank / Financial Institutions / Insurance Companies	----	----
Bodies Corporate	4252826	90.12%
Others	259226	05.49%
Total	4719320	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Selling of Grey Iron Castings, Carbon Alloy, Steel Castings, Equipments, Single Super Phosphate, Sulphuric Acid, Sodium Fluoride, Plant Growth Regulators, Acid Slurry, Trigger, Fabricated Steel Structural, Tomato, Papaya, Mango Pulps and Concentrates.
Products :	Item Code No (ITC Code) Product Description Single Super Phosphate 310310 Steel Equipments 730840 Iron & Steel Casting 730890
Exports :
Countries :	Netherlands, France, Germany, Austria, Canada, USA, Belgium and Switzerland
Imports :
Countries :	Europe and Far East
Terms :
Purchasing :	L/C terms

PRODUCTION STATUS

Particulars	Unit	Installed Capacity 31^st March		Actual Production 31^st March
		2007	2006	2007	2006
Single Super Phosphate (SSP)	MT	201000	201000	(1,3)141341	136920
Granulated SSP	MT	45000	45000	10295	28599
N.P.K	MT	45000	45000	31480	31329
Equipment & Fab. Steel Struct.	MT	16490	16490	6740	6267
Carbon Alloys Steel	MT	10000	10000	9886	6098
Tomato, Mango, Guava, Papaya Pulp & Concentrate & Consumer Products	MT	8500	8500	----	---
Sulphuric Acid	MT	78000	78000	(2) 60328	(2) 55840
Oxygen Gas	Cu.M	500000	500000	(4) 595189*	(4) 415772*
Production includes purchase of Oxygen Gas 35483 Cu. M (P Y 2093 Cu M)
Own consumption
For production of GSSP	MT			10295	28599
For production of SSP	MT			46262	46443
For production of NPK	MT			7398	5363
For Industrial activities	Cu. M			592459	389025

GENERAL INFORMATION

Suppliers :

· Allwin Shoe Industries

· Akash Auto and Mechanical Engineering Works

· Bhilai, Bina Engineering

· Chhaya Engineering Works

· Chatak Industries

· Dravid Metals and Foundry Chemical Gearcon Engineering

· Gurdeep Enterprises

· Gurkul Engineering Works

· Indian Alloys

· Khalsa Engineering Works

· Makali Patternshormudhar Engineering and Automation

· Maity Techno Enterprises

· Singh Engineering Works

· Shyam Engineering Works

· Vijay Micro Machining Cenre

· Devpad Lime Industries

· S. Engineering Works

· The Jo Engineering Services (P) Limited

· Synorganic Paints Limited

· Bajrang Coveyors

· Liquee Sealsengineering, Mumbai

· Parkson Industrial Packings Bombay

· S.Engineering Works, Howrah, Kolkata

· Vijay Laxmi Udyog Engineering Works

· Arihant Industries,

· Adhunik Industries,

· Akash Auto and Mechanical Engineering Works,

· Anupam Industries,

· Bina Engineering,

· Bhilai Engineering Works,

· Balajee Engineering Works.

· Chhaya Engineering Works,

· Dhanghibhai Patel Saw Mill, Bilaspur,

· Devpad Lime Industries, Katni,

· Dravid Metals and Foundry Chemical,

· Gill Engineering Works,

· Gurukul Engineering Works,

· J.P. Engineering,

· Jairam Industries,

· Jai Kishan Engineering Work,

· Jailalbharatlal,

· Satna,

· K.L. Engineering Works,

· KPS Industries,

· Kang Engineering Works,

· Mid Point Engineering,

· Mahamaya Pattern Shop,

· Maity -Techno Enterprises,

· Santoshi Industries,

· Stelex Industries,

· Shyam Engineering Works,

· Sandeep Udyog,

· S.S. Engineering Work,

· S, Engineering Works,

· Saha Hydraulics,

· Satkar Industries,

· TT Industries,

· Utkal Engineering Works,

· Vinayak Trading Company

· Yash Engineering Works.

No. of Employees :

2200

Bankers :

• Central Bank of India, Bhilai, Madhya Pradesh, India
• UCO Bank, Bhilai, Madhya Pradesh, India
• UCO Bank, Sector – 1, Bhilai - 80001, India
• State Bank of India

Facilities:

SECURED LOAN	31.03.2007
	(Rs in millions)
Term Loan from Financial Institutions and Banks	338.971
Working Capital Loans from Bank	614.896
Working Capital Term Loan from Banks	0.000
Advances from Customers	3.441
Total	957.308

Notes:

1. Secured by way of charges on immovable and movable properties of the Company both present and future subject to prior charges on specified mortgage created/to be created in favors of the Company's Bankers and SICOM and Other Financial Institution.

2. Secured against hypothecation of Stock in trade including goods in transit book debts etc., ranking pari passu among the financing bankers, viz. Central Bank of India, UCO Bank and State Bank of India.

3. Secured by guarantees from the Company's Bankers including the Guarantees expired but not yet discharged.

4. Term Loans, Working Capital Loans and advances from Customers have also been guaranteed by some of the Directors.

UNSECURED LOAN	31.03.2007 (Rs. in millions)
Short Term Loans
From Companies	0.400
Other Loans and Advances	126.466
Total	126.866

Banking Relations :

Satisfactory

Auditors :

Name :

P C Bafna & Company

Chartered Accountants

Address :

Ganjpara, Durg, Madhya Pradesh, India

Tel. No.:

91-788-2323182 / 2329738

Associates/Subsidiaries :

• BEC Projects Limited
• Bhilai Management Services Private Limited
• Novel Projects Limited
• Sudha Investment Limited
• Kirtimoya Capital Limited
• J.P.Jain Trust
• Vishva Vishal Engineering Limited
• Kiosk Properties P Limited
• Hosak Industries and Plastics Limited
• BEC Impex International Private Limited
• BEC Strips Limited
• Arpa Chemicals Limited
• Madhu Memorial Hospital Limited
• Bharat Industrial Works (Bhilai) Private Limited
• Bharat Industrial Works
• Metalfab Hightech Private Limited
• Bhilai Motor Car Company
• Surge Services Private Limited,
• BECO Chemical Private Limited .,
• BEC Ispat Private Limited
• Kriner Services Private Limited .,
• Mewar Fibre Holding Private,Limited .,
• Cootlex Holdings Limited .,
• Jefferson Lesing and Finance Limited .,
• Ashish Industrial and Comml. Ent. Private Limited
• Perennial Finance and
• Investment Private Limited
• Jain Industrial and Comm. Entr. Private Limited
• BEC Minerals Private Limited

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
11500000	Equity Shares	Rs 10/- each	Rs. 115.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4719320	Equity Shares	Rs 10/- each	Rs. 47.193 millions

Note:

1. Share Capital includes 2276200 Equity Shares of Rs. 10/- each issued as fully paid Bonus Shares on Capitalisation of General Reserve.

2. 223920 shares of Rs. 107-each fully paid-up / issued for consideration other than cash.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		47.193	47.193	47.193
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		361.505	282.631	247.870
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		408.698	329.824	295.063
LOAN FUNDS
1] Secured Loans		957.308	908.451	673.907
2] Unsecured Loans		126.866	187.633	137.439
TOTAL BORROWING		1084.174	1096.084	811.346
DEFERRED TAX LIABILITIES		53.718	14.275	0.000
TOTAL		1546.590	1440.183	1106.409
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		487.999	292.591	251.795
Capital work-in-progress		52.682	5.495	3.926
INVESTMENT		15.522	17.101	14.138
DEFERREX TAX ASSETS		0.000	0.000	1.871
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	680.766	723.464	631.097
	Sundry Debtors	835.117	713.825	476.434
	Cash & Bank Balances	157.512	141.973	112.226
	Other Current Assets	7.744	5.268	7.480
	Loans & Advances	259.662	240.529	172.586
Total Current Assets		1940.801	1825.059	1399.823
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	950.414	700.063	565.144
	Provisions	0.000	0.000	0.000
Total Current Liabilities		950.414	700.063	565.144
Net Current Assets		990.387	1124.996	834.679
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1546.590	1440.183	1106.409

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2007	31.03.2006	31.03.2005
Sales Turnover		3247.614	2319.158	1953.202
Other Income		0.000	0.000	18.813
Total Income		3247.614	2319.158	1972.015
Profit/(Loss) Before Tax		136.994	60.063	16.866
Provision for Taxation		18.677	9.183	1.275
Profit/(Loss) After Tax		118.317	50.880	15.591
Export Value		338.870	511.374	309.661
Import Value		244.674	218.128	96.093
Expenditures :
	Raw Material Consumed	2080.096	1533.345	1027.421
	Consumption of stores and spares parts	NA	NA	331.897
	Increase/(Decrease) in Finished Goods	51.766	[20.752]	[135.371]
	Salaries, Wages, Bonus, etc.	NA	NA	120.021
	Managerial Remuneration	NA	NA	0.979
	Payment to Auditors	NA	NA	0.392
	Interest	NA	NA	84.976
	Insurance Expenses	NA	NA	4.262
	Financial Charges	116.618	77.841	NA
	Power & Fuel	NA	NA	104.837
	Depreciation & Amortization	61.770	35.512	38.247
	Other Expenditure	800.370	633.149	377.488
Total Expenditure		3110.620	2259.095	1955.149

KEY RATIOS

PARTICULARS		31.03.2007	31.03.2006	31.03.2005
PAT / Total Income	(%)	3.64	2.19	0.79
Net Profit Margin (PBT/Sales)	(%)	4.22	2.58	0.86
Return on Total Assets (PBT/Total Assets}	(%)	5.48	2.81	1.02
Return on Investment (ROI) (PBT/Networth)		0.34	0.18	0.06
Debt Equity Ratio (Total Liability/Networth)		4.98	5.44	4.67
Current Ratio (Current Asset/Current Liability)		2.04	2.61	2.48

LOCAL AGENCY FURTHER INFORMATION

THE YEAR IN RETROSPECT & FUTURE PROSPECTS: -

The Company's overall performance during the year has improved. The sales and other income increased to Rs.3247.614 millions from Rs. 2319.158 millions in preceding year i.e. registered a growth of more than 40%. Similarly profit before tax enhanced to Rs, 136.994 millions from Rs, 60.063 millions i.e. growth of more than 128%.

Net profit (PAT) for the year stood at Rs. 118.317 millions as compared to Rs.50.880 millions in the previous year. Company is hopeful of significant growth in coming years also in view of positive economic environment of the country and world as well.

Bankers Charges Report as per Registry

Name of the company	BHILAI ENGINEERING CORPORATION LIMITED
Presented By	Mr. Arvind Kumar Jain, Director
Date and description of instrument creating the change	Deed of Hypothecation dated 21.04.1969 for Cash Credit Limit of Rs. 0.100 Million in favour of United Commercial bank, Bhilai Charge created on 21.04.1969
Date and brief description of instrument modifying the charge	Supplementary deed of Hypothecation dated 20.09.1978 – Increasing the Cash Credit Limit and charge to Rs. 0.700 Million in favour of United Commercial Bank, Bhilai
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.	Cash Credit – against Hypothecation Limit increased form Rs. 0.100 Million to Rs. 0.700 Million Margin – 30 % on Raw materials and 50 % on finished goods Rate of interest 15 %

This form is for	Creation of charge
Corporate identity number of the company	L29111MP1960PLC000913
Name of the company	BHILAI ENGINEERING CORPORATION LIMITED
Address of the registered office or of the principal place of business in India of the company	Hathkoj Village, Industrial Area, Bhilai, Madhya Pradesh, India
Type of charge	Movable Property
Particular of charge holder	Central Bank of India Civic Centre Branch Bhilai – 490006, Chattisgarh
Nature of description of the instrument creating or modifying the charge	Articles of agreement Agreement of hypothecation dated 01.03.2007
Date of instrument Creating the charge	01.03.2007
Amount secured by the charge	Rs. 103.800 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest BPLR + 0.50 % Terms of repayment Entire term loan should be repaid in 60 monthly installments of Rs. 1.730 Millions and commencing from April 2007 Margin 50 % on Civil works, 25 % on Machinery Extent operation of the charge 100 %
Short particulars of the property charged	Charge on Block assets present and future

FIXED ASSETS

• Freehold Land
• Leasehold Land
• Buildings
• Plant & Machinery
• Electricity and Telephone Installations
• Furniture
• Fixtures and Equipment
• Vehicles and Computers

OTHER DETAILS:

Contingent Liabilities Not Provided For	31.03.2007	31.03.2006
	(Rs. in millions)
Bank guarantee Outstanding	344.586	298.718
Against which
Liabilities provided (advances from customers))	3.441	32.157
Fixed deposit pledged with banks	35.429	31.112
Estimated amount of contracts remaining to be executed on capital account (net of advances to suppliers)	9.814	117.809
Sales Tax and Entry Tax disputed (Net of amount paid)	13.961	16.673
Claim raised by government agencies but nor accepted by the company	24.959	30.304
Amount paid against above	8.149	8.731

AS PER WEBSITE

The company, the flagship company of the BEC Group, has evolved over four decades into a company, manufacturing core sector industries - Steel, Mining, Railways, Cement, Process Industries, Defense and Port Equipment.

Subject has built up an impressive track record in taking up the challenges of India's Progress. In keeping with its pioneering traditions, Subject 's activities are marked by a creative approach to specialised customer adaptability to a changing environment. 

In fact, it is the accent on quality and strict adherence to delivery schedules that have earned BEC the trust of well-known national and international organisations like SAIL, MECON,TISCO, EIL, Mannesman Demag, MAN GHH, Mitsubishi, Hoogovens, SMS and Paul Wurth.

In their endeavour to achieve ISO 9000 quality standards, Subject entire quality assurance system is tailored to stringent standards. The efforts bore fruit when subject was chosen to be among the very first suppliers of materials to TISCO under the self-certificate scheme.

Products made by the BEC Group have won markets around the world. The high quality of engineering products and special steel castings made by subject for Steel Plants, Railways, Mining and Cement Plants have won the confidence of industries in Japan Russia, Middle East, Africa,  Egypt, Iran, USA and UK.

Mudgun Assembly

In fact, BEC Impex International Private Limited was set up to cater to the demands of the international market. With exports of over 6000 tonnes of castings and total product exports worth over Rs. 500 million in three years.

Achievements, in terms of products developed, ISO 9002 Quality Standards and Technological breakthroughs.

Subject, with its long experience in heavy engineering, a rich pool of expertise and an infrastructure to match, has the necessary strengths to undertake projects in various fields.

Starting with a material handling system a few years ago for Bhilai Steel Plant, It rapidly chalked up achievements like India's first Tar Bonded Blast Furnace Masses and Compound Shop for Vizag Steel Plant- a highly complex job with sophisticated processes and controls.

Subject has successfully executed massive project for Durgapur Steel Plant's modernisation programme. A job that involved supply of 8000 tones of equipment including BF Shells, Jib Cranes, Charging equipment , Cooling Plate Castings and about 30,000 tonnes of sophisticated structural fabrication in special steels - to the stringent standards set by Tiazpromexport of Russia - for three new Blast Furnaces and a Sinter Plant.

The Projects Division is manned by highly skilled and experienced teams of engineers and supported by in-house EDP and data banks. Moreover, BEC's Construction Division, comprising Bharat Industrial Works and Syndicate Engineering Company (Bhilai) Private Limited are always geared to offer their facilities where the project involves civil and structural construction inputs.

Projects Completed / Under Execution

· Total engineering and steel fabrication work for Blast Furnaces and a Sinter Plant for Durgapur Steel Plant's modernization program

· Iron Ore Handling System of 1 million tonnes capacity

· Tar Bonded Blast Furnace Masses and Compound Shop to cater to 3 million tonnes of Hot Metal Production

· Ferro-Alloy Bunkers and Coke Crushing Plant to cater to 2.5 millions tonnes of Steel Production

· 1.5 million litres per day Water Supply Scheme

· 2.27 million litres per day Rapid Sand Filtration Plant

· 50,000 tones capacity Material Handling System

· Conveyor System to handle 0.5 million tones of flux for Sintering Plant

Milestones

1998-99

• Full range of crusher castings for export to France

• Fabricated bogies for Bangladesh Railways

• Pusher machine for coke oven plant of Konark coke

• Pig casting machining of 12 W TPD capacity of IMIL, Dolvi

• Hydraulic Feeder breaker

1997-98

• Mantle for Crushers
• High holding capacity fabricated Anchors for oil rigs
• Crusher parts for exports to U.S.
• Segments for continuous caster of JVSL steel plant

1996-97

• Top Cone Material Hopper

• Cross Transfer and Runnout Roller Table

• Top Charging Equipment For Mini Blast Furnace

• Coal Charging Car 7.0 M Coke Oven

• Electric Loco 7.0 M Coke Oven Battery

1994-95

• Doors, Door Body and Doors Frames for
• Grab Bucket Assembly
• Bogie Frame wds-6
• Coal Charging Car 4.5 M Coke Oven
• Coke Guide Car 4.5 M Coke Oven
• Twin Angle Large Bell with Hopper

1993-94

• Tundish for Slab Caster

• Tundish Car

• Dummy Bar Top Charging Equipment

• Process and Cut off Roller Table

• Slag Pot Tilting Car

• Equipment for Slag Grannulation Plant

1992-93

• Sinter Fine Disposal System
• Fabricated Switches and Crossing
• Couplers
• Driving Arm
• Pallet Frame
• S.G. Iron Pallet
• Hopper Rotating Mechanism assembly Pallet Assembly
• Skip Charging System
• Grids and Coloumns For Blast Furnace.
• Pig Casting Machine
• Top Charging Equipment
• Spray Type Saturator
• Coke Ovens
• Final Cooler

1992-93

• Dewatering Drum Assembly

• Distributor and Blow Down Boxes

• Slag Laddle Car

• Lower Rotary Hopper

• Pig Moulds

• Top and Bottom Roll Chock assemblies

• 1.5 Cu.M. Capacity Grab Bucket

• 100 Ton Iron Iron Ladle

• 140 Ton Teeming Ladle

• Cast Manganese Steel Crossing Body

• Inlet Trunion

• Electric Loco for 4.5 M Coke Oven Battery

• Movable Hopper Winch

1991-92

• Supply of Feeder Breaker to SECL
• Manufacture of Coke Oven Machines including Quenching Cars and Locos
• Hot Coil Conveying Systems for TISCO
• Cold Rolling Mill equipment's to Steelco, Gujarat
• Package for RSP's modernisation (second Phase) including design, manufacture and supply of 16 nos of 140T Hot Metal Ladle Cars

1990-91

• Total Blast Furnace equipment, including Top Charging equipment, Burden Distributors, Rocking

• Runners, Jib Crane and Tuyere Stock

• Manufacture of Ingot Buggy for Blooming and Billet Mill of BSP

• Different types of Wagon for Steel plants.

1989-90

• Manufacture, control assembly and supply of Hoogovens design of Grids and Columns for Blast Furnace Stoves.
• Stacker Reclaimer for LandT for Khaperkhada Thermal Power Station
• Design and manufacture of Mudgun for 2000 M3 Blast Furnace of BSP
• Furnace equipment for Hindustan Zinc Limited (700 tonnes)
• Manufacture of Triaxle mounted CoCo Bogies and fabricated BoBo Bogies for Indian Railways.

It’s products range include :-

· Pig Iron

· Steel

· Steel Scrap

· Gases

· Sulphuric Acid

· HDPE Packing Bags

· Tomato Paste/Puree

· Mango Pulp/Concentrate

· Guava Pulp

· Tamarind

· Amla

· Papaya

· Chillie Paste

· Garlic Paste

· Ginger Paste

· Onion Paste

· Mix Fruits

· Pink Guava

· Mango

· Tomato

FURTHER DETAILS:

Amalgamation

The petition of merger scheme of BEC Industries Limited with the company w.e.f. 01.04.1999 as approved by Board of Directors in its meeting held on 24.08.1999 was pending with Honourable Chhattisgarh High Court. The merger effect shall be taken soon after the scheme was approved by the Honourable Chhattisgarh High Court.

In fact, BEC Impex International Private Limited was set up to cater to the demands of the international market. With exports of over 6000 tonnes of castings and total product exports worth over Rs. 500 million in three years.

A Profile of the BEC Group

The BEC Group has, since its inception more than 40 years ago, steadily expanded to grow both in size and diversity. Today it comprises dynamic companies that span a wide variety of business from engineering to construction, agrochemicals to consumer products.

The driving force in every case has been singular - the urge towards greater technical excellence, more advanced technology - to stay always a step ahead of time.

Every unit of the group has sought to consolidate its expertise in its own areas of operation. But the group has grown not just through addition of these strengths - it has grown far stronger through synergies established between them.

The company is a diversified industrial group engaged in Engineering, Fertilizer, Food Processing, Plant Growth Regulators, Construction and Exports. About 2000 people are working at various places. BEC group is run by experienced professionals and has a turnover of about 150 Crores ($ 50 Million).

Engineering and Projects Division has Steel foundry, Iron foundry, Machine shop equipped for heavy jobs and Equipment fabrication shops at Bhilai. Equipment are manufactured for Steel Plants, Coal, Power and Cement Industries and Bogie frames for the Railways. BEC has collaborations with two German Companies, one British Company and one French Company for Mining, Coke Ovens, Ball Mills and other equipment.

The company undertakes total project implementation including Civil, Structural and Mechanical erection. BEC has recently undertaken detailing and fabrication of a 30,000 tons Blast Furnace, Sintering plant structures and equipment for a Steel Plant. The company has also been engaged in several other projects.

Fertilizer and Agro Chemicals Division BEC has a SSP Fertilizer unit at Bilaspur for manufacture of 110,000 tons per year of Single Superphosphate and 40,000 tons of Sulphuric Acid. With an American collaboration, BEC also manufactures Plant Growth Regulators. These help in phenomenal growth in the plants.

Food Processing Plant a modern Food Processing Unit is engaged in the manufacture of Tomato, Mango, Guava and Papaya Pulp and concentrates in aseptic packaging. A large scale agricultural extension project has been in operation for last several years for development of hybrid varieties of tomatoes and other items.

Products made by the BEC Group have won markets around the world. The high quality of engineering products and special steel castings made by the company for Steel Plants, Railways, Mining and Cement Plants have won the confidence of industries in Japan Russia, Middle East, Africa,  Egypt, Iran, USA and UK.

In fact, BEC Impex International Private Limited was set up to cater to the demands of the international market. With exports of over 6000 tonnes of castings and total product exports worth over Rs. 500 million in three years.

Group Companies

Vishva Vishal Engineering Limited (VVEL)

This Group Company is engaged in the manufacture of "State of the Art" Refractory for Steel plants, cement plants and Petro-Chemical Plants. The Company manufactures Ultra Low Cement and No Cement Castables, Pre-Cast Refractory Shapes, it also manufactures Basic Refractory Monolithic, the product range of which includes Magnesite Ramming Masses of various qualities for high capacity , high power Electric Arc Furnaces, Monolithic for Induction Furnaces, Gunning and Spraying Compounds.  

BEC Strips Limited

This Group Company is engaged in the manufacture of Pipes using the latest and most advanced technology of the HIGH FREQUENCY INDUCTION WELDING process. The product range from 6 mm to 63 mm nominal bore pipes in A, B and C class categories.

Nagpur Fabriforge (P) Limited

This group Company is engaged in the manufacture of LPG Cylinders for domestic and industrial use. The Company has an extensive range of products which includes Scooter Wheel Rims, Compressor Shells for Refrigerators and Air Conditioners, Ammunition Boxes for Defense and host of other Deep Drawn and Pressed Components.

Bharat Industrial Works

This Group Company is engaged in Structural Fabrication and Erection of Steel Structures. Its services touch the very core sector industries in India - Power Plants. The Company is credited with the Structural fabrication and Equipment erection work of several thermal power plants of 200MW and 500 MW Capacity.

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.41.68
UK Pound	1	Rs.81.23
Euro	1	Rs.64.13

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		64

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions