MIRA
INFORM REPORT
|
Report Date : |
03.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BANSAL ALLOYS AND METALS PRIVATE LIMITED |
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Registered Office : |
G T Road, Sirhind Side, Mandi Gobindgarh – 147301, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.07.1985 |
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Com. Reg. No.: |
16-6338 |
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CIN No.: [Company
Identification No.] |
U27101PB1985PTC006338 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLB11015E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of highly engineered components, both alloy
and non alloy castings and forgings. |
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 380000 |
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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 company having
satisfactory track. Trade relations are fair. Business is active. General
financial position is satisfactory. Payments are reported as usually correct
and as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office/ Factory : |
G T Road, Sirhind Side, Mandi Gobindgarh – 147301, Punjab, India |
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Tel. No.: |
91-1765-255001/2/3/5 /® 91-1765-255013/ 256215 |
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Fax No.: |
91-1765-255004 |
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Mobile No.: |
91-9814015500 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Prem Chand Bansal |
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Designation : |
Chairman |
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Address : |
Ward No 15, House No.96, Mandi Gobindgarh, – 147301, Punjab, India |
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Date of Birth/Age : |
20.07.1940 |
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Date of Appointment : |
02.07.1985 |
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Name : |
Mr. Raj Kumar Bansal |
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Designation : |
Managing Director |
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Address : |
Ward No.17, Mandi Gobindgarh, – 147301, Punjab, India |
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Date of Birth/Age : |
01.03.1945 |
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Date of Appointment : |
02.07.1985 |
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Name : |
Mr. Vijay Kumar Bansal |
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Designation : |
Director |
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Address : |
Ward No.18, Mandi Gobindgarh, – 147301, Punjab, India |
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Date of Birth/Age : |
02.09.1962 |
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Date of Appointment : |
11.03.1991 |
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Name : |
Mr. Sanjay Kumar Bansal |
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Designation : |
Director |
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Address : |
Ward No.18, Mandi Gobindgarh, – 147301, Punjab, India |
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Date of Birth/Age : |
06.05.1971 |
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Date of Appointment : |
01.07.1992 |
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Name : |
Mr. Rajesh Kumar Bansal |
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Designation : |
Director |
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Address : |
Ward No.18, Mandi Gobindgarh, – 147301, Punjab, India |
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Date of Birth/Age : |
19.01.1965 |
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Date of Appointment : |
01.10.1990 |
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Name : |
Mr. Rajiv Kumar Bansal |
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Designation : |
Director |
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Address : |
Ward No.17, Mandi Gobindgarh, – 147301, Punjab, India |
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Date of Birth/Age : |
14.07.1969 |
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Date of Appointment : |
01.10.1990 |
KEY EXECUTIVES
|
Name : |
M S Jindal and Associates |
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Designation : |
Company Secretary |
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Address : |
11, 2nd Floor, Suru Har Rai Complex, Near Manju Conema,
Ludhiana, India |
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Tel No.: |
91-161-234741/ 4629441 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
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No. of Shares |
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Prem Chand Bansal |
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13199 |
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Raj Kumar Bansal |
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18680 |
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Ram Kumar Bansal |
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2750 |
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Rajesh Kumar Bansal |
|
9866 |
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Sunil Kumar Bansal |
|
14580 |
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Rajiv Kumar Bansal |
|
17120 |
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Vijay Kumar Bansal |
|
11308 |
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Prem Chand Bansal (HUF) |
|
4000 |
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Raj Kumar Bansal (HUF) |
|
3950 |
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Sheela Devi Bansal |
|
6000 |
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Sunita Devi Bansal |
|
3500 |
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Rekha Bansal |
|
10050 |
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Maya Devi Bansal |
|
1100 |
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Ram Gopal Bansal |
|
1500 |
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Vijay Kumar Bansal (HUF) |
|
1500 |
(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 highly engineered components, both alloy
and non alloy castings and forgings. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Main Branch, GT Road, Mandi Gomindgarh – 147301, Punjab, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Datta Singla and Company Chartered Accountant |
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Address : |
Battan Lal Road, Battan Lal Mill Complex, Mandi Gobindgarh – 147301,
Punjab, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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149318 |
Equity Shares |
Rs.100/- each |
Rs.14.932 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 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
14.932 |
14.932 |
14.932 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
61.043 |
46.657 |
34.057 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
75.975 |
61.589 |
48.989 |
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LOAN FUNDS |
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1] Secured Loans |
36.755 |
21.802 |
16.227 |
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2] Unsecured Loans |
43.372 |
34.684 |
25.072 |
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TOTAL BORROWING |
80.127 |
56.486 |
41.299 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.099 |
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TOTAL |
156.102 |
118.075 |
90.387 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
35.631 |
41.931 |
36.820 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
5.000 |
0.000 |
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DEFERREX TAX ASSETS |
1.471 |
0.632 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
283.995
|
183.976 |
206.063 |
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Sundry Debtors |
32.613
|
22.718 |
48.528 |
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Cash & Bank Balances |
23.167
|
16.175 |
24.755 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
71.157
|
48.641 |
46.942 |
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Total
Current Assets |
410.932
|
271.510 |
326.288 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
282.699
|
193.270 |
264.954 |
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Provisions |
9.233
|
7.728 |
7.767 |
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Total
Current Liabilities |
291.932
|
200.998 |
272.721 |
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Net Current Assets |
119.000
|
70.512 |
53.567 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
156.102 |
118.075 |
90.387 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
1167.354 |
1518.728 |
1401.642 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
1167.354 |
1518.728 |
1401.642 |
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Profit/(Loss) Before Tax |
22.423 |
19.167 |
20.061 |
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Provision for Taxation |
8.038 |
6.566 |
7.499 |
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Profit/(Loss) After Tax |
14.385 |
12.601 |
12.562 |
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Expenditures : |
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Financial Charges |
4.713 |
3.014 |
3.453 |
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Depreciation & Amortization |
7.299 |
7.824 |
5.386 |
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Other Expenditure |
1132.919 |
1488.723 |
1372.742 |
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Total Expenditure |
1144.931 |
1499.561 |
1381.581 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.23
|
0.83 |
0.90 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.92
|
1.26 |
1.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.02
|
6.12 |
5.52 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.31 |
0.41 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.90
|
4.18 |
6.41 |
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Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.35 |
1.20 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:
|
Corporate identity
number of the company |
U27101PB1985PTC006338 |
|
Name of the
company |
BANSAL ALLOYS AND METALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
G T Road, Sirhind Side, Mandi Gobindgarh – 147301, Punjab, India |
|
This form is for |
Modification of Charge |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of Patiala Main Branch, GT Road, Mandi Gomindgarh – 147301, Punjab, India |
|
Nature of
instrument creating charge |
Agreement of Loan
for overall limit Agreement of
hypothecation of goods and assets Letter regarding
the grant of individual limits within the overall limit Agreement of
hypothecation of goods and assets Deed of Guarantee
for overall limit |
|
Date of
instrument Creating the charge |
03.01.2007 |
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Amount secured by
the charge |
Rs.20.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: 1.50% above BPLR
Minimum 12.75% monthly Terms of
repayment: Repayable On
Demand Margin: 25% on Stock and
Spares and 50% on Book Debts Extent and
operation of the charge: 100% |
|
Particulars of
the property charged |
First charge by
way of equitable mortgage of factory land measuring 49 Bighas, 5.5 Biswas and
Building, Situated G T Road, Mandi Gobindgarh Hypothecation of
Plant and Machinery, Other Fixed assets and current assets of the
company |
|
Particulars of
the present modification |
Rate of Interests
has been changed to 1.505 above/ Below SBI advances Rate with a minimum of
12.75% monthly from 3.5% above/ below SBI advances Rate with a minimum
of15.75% p.a. |
WEBSITE DETAILS:
PROFILE:
Subject has
been manufacturing highly engineered components, both alloy and non alloy
castings and forgings. Incorporated in 1990, Subject commitments to strive for quality has seen it
emerge into steel house which values its customers foremost. Offering a
versatility in services to a vast range of end users, equipped with modern
technology and efficient and motivated workforce, it has developed consistent
quality products that have been exceeding the expectation of its
customers.
Subject takes
necessary care in coordinating and streamlining its production cycle to ensure
customers satisfaction by timely execution of its orders. With its never-ending
quest for long-term customers relationship, pre and post sales technical
support becomes an integral part of its system, which includes services like
material selection, economic viability analysis and process engineering etc. It
not only produces a variety of steel alloys guaranteed to meet national and
international standards, but also manufactures "custom made" alloys
designed to enhance the specific physical property requirements of the
application or project.
STEEL
MELTING SHOP:
- Induction
Furnace (7.5 MT) with two crucibles.
- Refining
Ladle.
- Capacity 15 MT.
- Capacity 10
- MT. Generator Set of Capacities-125, 130 KVA.
- Temperature Recorder for LM temperature measurement (Fykays & S.S.S Make).
- Argon Purging System.
- Ferro Alloys & & B.P Set Preheating system.
STEEL CASTING
DIVISION (FOUNDRY):
- Heat Treatment Furnace with 6 points temperature recorder.
(a). 4MT X 4MT X 2.5MT
(Oil Fired)
(b). 6MT x 2.5MT x 2.5MT
(Oil Fired)
- Air Compressor from Kirloskar with Capacity 200 CFM.
- Sand Dryer
- Sand Mixer
- Sand Muller
- Swing Frame Grinder
- Pedestal Grinder
- Pneumatic tools, Welding set and hand grinder.
- Mould boxes for light, medium & heavy moulding jobs.
- Lather Machine
While many factors contribute to the quality of a steel casting,
experience and knowledge are probably the most important. Subject is well-known
for attention to detail, insistence on the highest quality in equipment and
materials, and their commitment to testing and quality control. Subject
tradition demands perfection in every phase of production. To assure this
quality, tests and checks are performed from molding to final inspection.
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GEC make medium frequency electric induction furnace.
-
Sand-casting process for steel casting.
-
Die casting section.
-
Lathe machines.
-
1 M.T forging hammer.
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Ferro-alloys and refractory preheating oven.
-
Immersion pyrometer with recorder for strict temperature
control.
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Argon purging system to ensure clean and homogeneous steel.
-
Argon shrouding arrangement to reduce the effect of gases.
-
Die and moulds preheating oven.
-
Insulating vermacolite sand pit.
R & D AND QUALITY CONTROL
- Spectrometer (Spectro Analytical Instruments, Germany, 16 Channel +
28 Channel).
- Fully Equipped Wet Analysis Chemical Lab.
- Ultrasonic Flaw Detector Eec-Ex10 With All Accessories.
- Muffle Furnace.
- Universal Testing Machine.
- Hardness Testing Equipment (Portable).
- Sand Testing Lab.
- Mpi/Dp Testing In House Facility Available.
- Mould Hardness Tester.
- Mould Temperature Indicator With Sensor.
- Marking Table And Marketing Instruments.
- Telescopic Micro Structure Equipment With All Accessories.
- Sample Cutting Machine.
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.46.96
|
|
UK Pound |
1 |
Rs.83.91 |
|
Euro |
1 |
Rs.66.36 |
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 |
6 |
|
--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 |
|