MIRA
INFORM REPORT
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Report Date : |
20.04.2011 |
IDENTIFICATION DETAILS
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Name : |
BHP INFRASTRUCTURE PRIVATE LIMITED |
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Registered
Office : |
D-147, Defence Colony, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.01.2003 |
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Com. Reg. No.: |
118696 |
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CIN No.: [Company Identification
No.] |
U29299DL2003PTC118696 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELB07880F |
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PAN No.: [Permanent Account No.] |
AACCB2368M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Suppliers of Crushing Screening and Material Handling
Equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 464000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DENIED BY
Management Non Co-Operative (Name not disclosed)
LOCATIONS
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Registered Office : |
D-147, Defence Colony, |
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Tel. No.: |
91-11-40671358 |
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Mobile No.: |
91-9958898600 (Mr. Sunil Batra) |
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Fax No.: |
91-11-40671357 |
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E-Mail : |
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Factory 1 : |
Plot No.7, Sector – 4, |
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Tel. No.: |
91-129-4282528/501 |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Ajay Batra |
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Designation : |
Director |
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Address : |
44, Silver Oak Farms, Ram Mandir Road, Vasant Kunj, New Delhi –
110070, Delhi, India |
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Date of Birth/Age : |
23.09.1957 |
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Date of Appointment : |
28.09.2007 |
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Name : |
Ms. Karina Batra |
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Designation : |
Director |
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Address : |
44, Silver Oak Farms, Ram Mandir Road, Vasant Kunj, New Delhi –
110070, Delhi, India |
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Date of Birth/Age : |
05.09.1964 |
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Date of Appointment : |
22.07.2003 |
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Name : |
Mr. Sunil Batra |
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Designation : |
Director |
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Date of Birth/Age : |
27.09.1955 |
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Date of Appointment : |
01.09.2009 |
KEY EXECUTIVES
|
Name : |
Mrs. Hema Wadhwa |
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Designation : |
Secretary |
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Date of Birth/Age : |
07.06.1975 |
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Date of Appointment : |
01.08.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Ajay Batra |
4379000 |
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Karina Batra and Ajay Batra |
520000 |
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Geeta Batra |
1000 |
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Sunil Batra |
100000 |
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Total |
5000000 |
AS ON 30.09.2010
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S. No. |
Category |
Percentage |
|
1 |
Directors or
relatives of Directors |
100.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Suppliers of Crushing Screening and Material Handling
Equipment. |
GENERAL INFORMATION
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Bankers : |
Canara Bank, 8A, Nehru Ground, NIT, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Ravi Khanna Chartered Accountant |
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Address : |
107, Kailash Hills, |
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Tel No.: |
91-11-66628888 |
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Fax No.: |
91-11-66628889 |
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Email : |
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Name : |
S S Kothari Mehta and Company Chartered Accountant |
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Address: |
146-149 Tribhuvan Complex, Ishwar Nagar, |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
50.000 |
50.000 |
50.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
66.121 |
53.799 |
41.144 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
116.121 |
103.799 |
91.144 |
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LOAN FUNDS |
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1] Secured Loans |
232.308 |
242.258 |
165.815 |
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2] Unsecured Loans |
108.071 |
59.765 |
66.482 |
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TOTAL BORROWING |
340.379 |
302.023 |
232.297 |
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DEFERRED TAX LIABILITIES |
10.216 |
8.986 |
6.687 |
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TOTAL |
466.716 |
414.809 |
330.128 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
213.446 |
218.817 |
213.119 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
306.654
|
313.899
|
170.319 |
|
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Sundry Debtors |
32.396
|
22.103
|
30.266 |
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Cash & Bank Balances |
5.778
|
1.123
|
1.546 |
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Other Current Assets |
0.014
|
0.154
|
0.072 |
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Loans & Advances |
32.213
|
32.114
|
13.374 |
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Total
Current Assets |
377.055
|
369.393
|
215.577 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
90.038
|
146.570
|
71.275 |
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Other Current Liabilities |
22.354
|
17.183
|
20.304 |
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Provisions |
11.393
|
9.648
|
6.989 |
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Total
Current Liabilities |
123.785
|
173.401
|
98.568 |
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Net Current Assets |
253.270
|
195.992
|
117.009 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
466.716 |
414.809 |
330.128 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
367.720 |
361.680 |
318.970 |
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TOTAL (A) |
367.720 |
361.680 |
318.970 |
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Less |
EXPENSES |
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|
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TOTAL (B) |
314.360 |
302.540 |
264.600 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
53.360 |
59.140 |
54.370 |
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Less |
FINANCIAL
EXPENSES (D) |
33.510 |
29.260 |
23.290 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.850 |
29.880 |
31.080 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
6.720 |
5.040 |
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PROFIT BEFORE
TAX (E-F) (G) |
19.850 |
23.160 |
26.040 |
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Less |
TAX (I) |
6.300 |
7.150 |
6.910 |
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PROFIT AFTER TAX
(G-I) (J) |
13.550 |
16.010 |
19.130 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
154.068 |
78.564 |
20.967 |
|
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Commission Earnings |
3.222 |
0.629 |
1.602 |
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TOTAL EARNINGS |
157.290 |
79.193 |
22.569 |
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IMPORTS |
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|
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Components and Spares |
96.767 |
191.325 |
125.978 |
|
|
|
Capital Goods |
NA |
NA |
2.288 |
|
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TOTAL IMPORTS |
96.767 |
191.325 |
128.266 |
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|
Earnings Per
Share (Rs.) |
2.71 |
2.67 |
3.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
(%) |
3.68
|
4.42
|
5.99 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
5.39
|
6.40
|
8.16 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.36
|
3.93
|
6.07 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.22
|
0.28 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
4.08
|
4.58
|
3.63 |
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|
|
Current Ratio (Current Asset/Current Liability) |
|
3.04
|
2.13
|
2.18 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company has been shifted from
C-173, Defence Colony, New Delhi – 110024, Delhi, India to 44, Silver Oak Farms,
Ram Mandir Road, Vasant Kunj, New Delhi – 110070, Delhi, India w.e.f.01.11.2007
The registered office address of the company has been shifted from 44,
Silver Oak Farms,
Form 8:
|
Corporate
identity number of the company |
U29299DL2003PTC118696 |
|
Name of the
company |
BHP
INFRASTRUCTURE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-147, Defence
Colony, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
Canara Bank |
|
Nature of
instrument creating charge |
Supplemental
Agreement Dated 12.01.2010 Letter for
creation of Equitable Mortgage dated 12.01.201 |
|
Date of
instrument Creating the charge |
12/01/2010 |
|
Amount secured by
the charge |
Rs.120.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 0.25% above PLR presently at 12.25% compounded monthly. Terms of
Repayment On demand Margin As per bank's
norms. Extent and
Operation of the charge First charge on
assets to secure OCC/BD limit of Rs.120.000 Millions with Packing Credit as a
sublimit of Rs.25.000 Millions |
|
Short particulars
of the property charged |
Present and
future stocks of raw material, semi
finished and finished goods, book debts and receivables. EMT of landed
properties of the co. situated at Plot No.7, Sector 4, Ballabhgarh, Plant and
Machinery stored therein. |
|
Date of
instrument modifying the charge |
24/09/2009 |
|
Particulars of
the present modification |
The regular OCC/BD
limit of Rs.100.000 millions with Packing Credit as a sub limit of Rs.25.000 millions stands
enhanced from Rs.100.000 millions to Rs.120.000 millions on sanction of
additional adhoc limit of Rs.20.000 millions. Other terms and conditions
remain the same. |
FORM 8
|
Corporate
identity number of the company |
U29299DL2003PTC118696 |
|
Name of the
company |
BHP INFRASTRUCTURE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-147, Defence Colony, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Canara Bank, 8A, Nehru Ground, NIT, Email: kar330@canbank.co.in |
|
Nature of
instrument creating charge |
Supplemental
Agreement dated 09.09.2010. Hypothecation agreement for Packing credit
advances dated 09.09.2010. Supplemental Collateral security agreement dated
09.09.2010. Letter evidencing deposit of title deeds dated 09.09.2010. |
|
Date of
instrument Creating the charge |
09.09.2010 |
|
Amount secured by
the charge |
Rs. 130.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest payable
on OCC/ODBD limit @3% above base rate presently 11% p.a. floating. Interest
rate for PC as applicable for export advances presently at 9.5% p.a. Terms of repayment Repayable on
demand. Margin As per banks
norms. Extent and operation of the charge First charge on
assets to secure OCC/BD limit of Rs.130.000 millions with Packing Credit as a
sublimit of Rs.25.000 millions. |
|
Short particulars
of the property charged (Including location of the property) |
Present and
future stocks of raw material, semi finished and finished goods, book debts
and receivables. EMT of landed
properties of the co. situated at Plot No.7, Sector 4, Ballabhgarh, Plant and
Machinery stored therein. |
|
Particulars of
the present modification |
The ADHOC OCC/ BD
limit of Rs.2 cr. granted to the company now stands liquidated. Thereafter
the OCC/BD limit stands enhanced from Rs.100 millions to Rs.130 millions with
Packing credit as a sub limit of Rs.25.000 millions Other terms and
conditions remain the same. |
Fixed Assets:
- Land
- Building
- Plant and
Machinery
- Computers
- Furniture and
Fixtures
- Electrical
Fittings
- Electrical
Installation
- Fire Fitting
System
- Office
Equipment
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.68 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.53 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
45 |
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 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.