MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRAHAD ELASTOMERS PRIVATE LIMITED |
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Registered Office : |
A-102A, 3rd Main Road, 2nd Stage, Peenya Industrial
Estate, Bangalore 560 058, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.05.1995 |
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Com. Reg. No.: |
17898 |
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CIN No.: [Company
Identification No.] |
U74140KA1995PTC017898 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB01490G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Rubber and Synthetic Rubber Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Maximum Credit Limit : |
USD 17550 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
As per the last available or obtainable financials, the company had
some accumulated losses. Financial position of the company can be reported as moderate. Its payments are reported as slow and delayed. The company can be considered for small to mediocre business dealings
on safe and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
A-102A, 3rd Main Road, 2nd Stage, Peenya
Industrial Estate, Bangalore 560 058, Karnataka, India |
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Tel. No.: |
91-80-65584696 |
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Fax No.: |
91-80-41170679 |
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Mobile No.: |
91-9844105636/9845274448 |
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E-Mail : |
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Website : |
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Area : |
10,000 Sq. ft. |
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Location : |
Leased cum sale |
DIRECTORS
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Name : |
Mr. Ramanand Bellare |
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Designation : |
Managing Director |
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Date of Birth/Age : |
65 Years |
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Qualification : |
B. Sc. |
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Name : |
Mr. Shivanand Bellare |
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Designation : |
Director |
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Mobile No.: |
91-9844105636/ 9845274448 |
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Date of Birth/Age : |
34 Years |
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Qualification : |
Diploma Engineering |
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Name : |
Mr. I. U. Pai |
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Designation : |
Director |
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Date of Birth/Age : |
11.12.1940 |
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Date of Appointment : |
23.11.2000 |
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Name : |
Mr. Vijayanand Kalyanpor |
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Designation : |
Director |
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Date of Birth/Age : |
26.01.1955 |
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Qualification : |
B. Sc. |
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Date of Appointment : |
23.11.2000 |
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Name : |
Mrs. Shantala Bellare |
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Designation : |
Director |
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Date of Birth/Age : |
60 Years |
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Name : |
Mr. Laxman S Nagarkar |
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Designation : |
Director |
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Date of Birth/Age : |
19.05.1928 |
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Date of Ceasing : |
08.08.2007 |
KEY EXECUTIVES
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Name : |
Mr. Mohandas |
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Designation : |
Company Secretary |
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Address : |
828, 3rd Main Road, 4th Block, Rajajinagar,
Bangalore – 560010, Karnataka, India. |
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Mobile No. : |
91-9986580939 |
MAJOR SHAREHOLDERS
As on 31.03.2007
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Names of Shareholders |
No. of Shares |
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Mr. Ramanand Bellare |
15500 |
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Mrs. Shantala Bellare |
2000 |
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Mr. Shivanand Bellare |
3500 |
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Mr. Umesh Pai Iruville |
7000 |
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Mr. Vijayanand Kalyanpor |
2000 |
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Exma Traders |
5000 |
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Total |
35000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Rubber and Synthetic Rubber
Products. |
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Products : |
v
Silicon Rubber Tubes v
Silicon Rubber Cards v
Silicon Rubber Profiles v
Channel and Extruion v
High Voltage Insulators v Surge Arrestors Silicon Products v
Packing Machinery Components v
Electrical Tri-Boots v
Cold Applied / Insulator v
Silicon Tubes and Profile v
Garment Finishing Equipment Components v
Heart Valve Component v
Cable Caps v
Rescusitators v
Electric Cover v FRP |
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Exports : |
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Products : |
All Products |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
· Tyco
Electronics Raychem GMBh · Aditya
Auto Products (I) Private Limited · Eureka
Forbes Limited · Aquamall
Water Solutions Private Limited · Bharat
Heavy Electricals Ltd (B.H.E.L) · Ramsons
Group of Companies · TTK
Prestige Limited · Biocon
· Himalaya
Drug Company · Amalgamated
Bean Coffee · MICO
Bosch Packaging Technology |
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No. of Employees : |
25 |
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Bankers : |
Malleswaram Branch
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Facilities : |
Term Loan and C/C Limit |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Sharath and Company Chartered Accountants |
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Address : |
No.11, Jeevan Building, Kumarapark, Bangalore – 560001, Karnataka,
India. |
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Tel. No. : |
91-80-22263879 |
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Fax No. : |
91-80-41138879 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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35,000 |
Equity Shares |
Rs. 100/- each |
Rs. 3.500
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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3.500 |
3.500 |
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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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0.010 |
(0.157) |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.510 |
3.343 |
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LOAN FUNDS |
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1] Secured Loans |
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2.795 |
3.301 |
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2] Unsecured Loans |
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0.300 |
0.300 |
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TOTAL BORROWING |
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3.095 |
3.601 |
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DEFERRED TAX LIABILITIES |
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0.085 |
0.089 |
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TOTAL |
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6.690 |
7.033 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.338 |
3.849 |
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Capital work-in-progress |
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0.000 |
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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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.678 |
2.221 |
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Sundry Debtors |
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2.909 |
2.713 |
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Cash & Bank Balances |
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0.243 |
0.139 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.063 |
1.096 |
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Total
Current Assets |
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5.893 |
6.169 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.541 |
2.986 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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2.541 |
2.986 |
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Net Current Assets |
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3.352 |
3.183 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.001 |
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TOTAL |
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6.690 |
7.033 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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11.217 |
13.444 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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11.217 |
13.444 |
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Profit/(Loss) Before Tax |
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0.333 |
0.861 |
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Provision for Taxation |
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0.166 |
0.177 |
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Profit/(Loss) After Tax |
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0.167 |
0.684 |
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Total Expenditure |
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10.884 |
12.583 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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1.49 |
5.09 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.97 |
6.40 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.61 |
8.59 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09 |
0.26 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.61 |
1.97 |
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Current Ratio (Current Asset/Current Liability) |
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2.32 |
2.07 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Website Details:
Profile
Established in 1996, Subject is a leading manufacturers and exporters
of high quality Silicone Rubber Moulded and Extruded Components. Serving the
business world for over a decade, they are recognized for constantly producing
upgraded and innovative products. All their products are durable and well
suited for the customer requirements.
With a strong conviction and a dedicated workforce, they are able to
consolidate their selves as a strong contender in the market and craved a
niche. As a quality conscious company, they have always associated their selves
only with the leading suppliers, for the purchase of the raw materials.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
1 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
1 |
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--LEVERAGE |
1~10 |
1 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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14 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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