MIRA
INFORM REPORT
|
Report Date : |
23.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
MACAWBER BEEKAY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Beekay House, L – 8, Green Park Extension, New Delhi – 110016, Delhi |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
20.12.1984 |
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|
|
|
Com. Reg. No.: |
55-019631 |
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|
|
Capital
Investment / Paid-up Capital : |
Euro 1650000 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL1984PTC019631 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM09085G DELM10598A |
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|
|
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PAN No.: [Permanent Account No.] |
AAACM0332L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Denseveyors, Ash Handling Equipment and Pneumatic
Conveying Systems |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
2356972 Euro |
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|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Beekay House, L – 8, Green Park Extension, New Delhi – 110016, Delhi,
India |
|
Tel. No.: |
91-11-42224222 / 30923092 |
|
Fax No.: |
91-11-41892999 |
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E-Mail : |
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|
Website : |
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|
Location : |
Commercial |
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|
|
|
Corporate Office : |
Beekay House, C-450, Sector-10, Noida-201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4507700 / 3007700 |
|
Fax No.: |
91-120-4507777 / 3007777 |
|
|
|
|
Factory 1 : |
Plot No.27-I and J, Sector-31, Ecotech-I, Greater Noida, District Gautam
Budh Nagar, Noida-201308, Uttar Pradesh, India |
|
|
|
|
Branch Office : |
KB-25, 4th Floor, Sector-III, Salt Lake City,
Kolkata-70098, West Bengal, India |
|
Tel. No.: |
91-33-30923092 |
|
Fax No.: |
91-33-30923000 |
DIRECTORS
AS ON 08.09.2010
|
Name : |
Mr. Ajay Kumar Gupta |
|
Designation : |
Managing Director |
|
Address : |
C-4/43 Safdarjung Development Area, |
|
Date of Birth/Age : |
10.05.1948 |
|
Date of Appointment : |
20.12.1984 |
|
DIN No : |
00207974 |
|
|
|
|
Name : |
Mr. Rohit Kumar Gupta |
|
Designation : |
Director |
|
Address : |
C-5/27 Safdarjung Development Area, |
|
Date of Birth/Age : |
19.04.1952 |
|
Date of Appointment : |
20.12.1984 |
|
DIN No : |
00208112 |
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|
|
|
Name : |
Mr. Karan Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
C-4/43 Safdarjung Development Area, |
|
Date of Birth/Age : |
20.11.1978 |
|
Date of Appointment : |
01.11.2003 |
|
DIN No : |
00208215 |
|
|
|
|
Name : |
Mr. Gautam Gupta |
|
Designation : |
Director |
|
Address : |
C-4/43 Safdarjung Development Area, New Delhi – 110016, India |
|
Date of Birth/Age : |
29.04.1977 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00208352 |
|
|
|
|
Name : |
Mr. Franz Bartels |
|
Designation : |
Director |
|
Address : |
Auf Dem Schendorn 13, |
|
Date of Birth/Age : |
22.07.1954 |
|
Date of Appointment : |
21.06.2000 |
|
DIN No : |
00833733 |
|
|
|
|
Name : |
Mr. Jeffrey Hudson |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
12.04.1960 |
|
Date of Appointment : |
30.06.2003 |
|
DIN No : |
00208525 |
|
|
|
|
Name : |
Mr. Ralph Alexander Ludwig |
|
Designation : |
Director |
|
Address : |
Vorlaenderweg 56, Muenster, Germany-48151 |
|
Date of Birth/Age : |
11.11.1963 |
|
Date of Appointment : |
10.05.2007 |
|
DIN No : |
01375597 |
|
|
|
|
Name : |
Mr. Keith Lewis Mitchell |
|
Designation : |
Director |
|
Address : |
4, Partrick Hill Avenue, Glasgow, United Kingdom-6115AA |
|
Date of Birth/Age : |
24.08.1962 |
|
Date of Appointment : |
31.03.2007 |
|
DIN No : |
01379817 |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Kumar |
|
Designation : |
Secretary |
|
Address : |
H-19-C, Near Sanjay Park, Shakarpur, Delhi-110092, India |
|
Date of Birth/Age : |
10.06.1983 |
|
Date of Appointment : |
03.05.2010 |
|
PAN No.: |
AZSPK3405G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.09.2010
|
Names of Shareholders |
No. of Shares |
|
Ajay Kumar |
1570 |
|
Rohit K Gupta |
1570 |
|
Karan Gupta |
1570 |
|
Gautam Gupta |
1570 |
|
Clyde Bergemann Material Handling Limited, England |
4400000 |
|
Neera Gupta |
1570 |
|
BSBK Engineers Private Limited, India |
6592150 |
|
Total |
11000000 |
AS ON 08.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
40.00 |
|
Bodies corporate |
59.93 |
|
Directors or relatives of Directors |
0.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Denseveyors, Ash Handling Equipment and Pneumatic
Conveying Systems |
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Products : |
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GENERAL INFORMATION
|
Bankers : |
·
Syndicate Bank, 2, Kaushalya Park, Houz Khas, New
Delhi-110016, Delhi, India |
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Facilities : |
Note: *Repayable on
demand |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Prince Water House and Company Chartered Accountant |
|
Address : |
Building 8, 7th and 8th Floor, Tower B, DLF
Cyber City, Gurgaon-122002, Haryana, India |
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|
|
|
Holding Company : |
BSBK Engineers Private Limited CIN No.: U74210DL1985PTC021596 |
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Other Related Parties : |
BSBK AKG (India) Limited Beekay Projects Consultancy Private Limited Northern India Bricks Private Limited Northern India Projects Developers Private Limited Amber Promoters Private Limited N. A. Leasing and Credit Private Limited L. D. Leasing and Credit Private Limited BSBK Enviro Systems Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
0.15/- Euro each |
4500000 |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
0.15/- Euro
Each |
1650000 |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Euro]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1650000 |
1650000 |
1060606 |
|
|
2] Share Application Money |
0 |
0 |
0 |
|
|
3] Reserves & Surplus |
10134860 |
7869444 |
3122927 |
|
|
4] (Accumulated Losses) |
0 |
0 |
0 |
|
|
NETWORTH |
11784860 |
9519444 |
4183533 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12347097 |
12489092 |
7035974 |
|
|
2] Unsecured Loans |
660932 |
1519843 |
1867694 |
|
|
TOTAL BORROWING |
13008029 |
14008935 |
8903668 |
|
|
DEFERRED TAX LIABILITIES |
0 |
0 |
0 |
|
|
|
|
|
|
|
|
TOTAL |
24782889 |
23528379 |
13087201 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3258055 |
3004925 |
1623805 |
|
|
Capital work-in-progress |
42056 |
28483 |
95842 |
|
|
|
|
|
|
|
|
INVESTMENT |
0 |
0 |
0 |
|
|
DEFERREX TAX ASSETS |
190377 |
137817 |
74089 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3478229
|
2821453 |
2081178 |
|
|
Sundry Debtors |
31535712
|
29019404 |
18091347 |
|
|
Cash & Bank Balances |
3663077
|
3159078 |
1922898 |
|
|
Other Current Assets |
272319
|
123033 |
113715 |
|
|
Loans & Advances |
1761330
|
1652791 |
1941147 |
|
Total
Current Assets |
40710667
|
36775759 |
24150285 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7748573
|
5231429 |
5518794 |
|
|
Other Current Liabilities |
10967476
|
10177616 |
6242702 |
|
|
Provisions |
676550
|
992995 |
1095325 |
|
Total
Current Liabilities |
19392599
|
16402040 |
12856821 |
|
|
Net Current Assets |
21318068
|
20373719 |
11293464 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0 |
0 |
0 |
|
|
OTHERS |
(15667) |
(16565) |
1 |
|
|
|
|
|
|
|
|
TOTAL |
24792889 |
23528379 |
13087201 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
63064833 |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
58753348 |
63064833 |
37590909 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Financial Expenses |
|
|
|
|
|
|
Administrative Expenses |
55267666 |
59395772 |
35712122 |
|
|
|
Depreciation |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
55267666 |
59395772 |
35712122 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3485682 |
3669061 |
1878787 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1220273 |
1346789 |
696969 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2265409 |
2322272 |
1181818 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
1157544 |
349910 |
961594 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
511871 |
1360029 |
452365 |
|
|
|
Plant and Machinery |
272403 |
221342 |
12544 |
|
|
|
Furniture and Fixtures |
36490 |
81453 |
15359 |
|
|
|
Air Conditioner |
35303 |
63144 |
0 |
|
|
|
Vehicles |
0 |
70248 |
0 |
|
|
TOTAL IMPORTS |
856067 |
1796216 |
480268 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Euro) |
0.21 |
0.21 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.85
|
3.68 |
3.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.89
|
9.19 |
7.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.39 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.75
|
3.19 |
5.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10
|
2.24 |
1.88 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF OPERATIONS
During the year,
the Company has recorded a turnover of Euro 58757575 a decrease of about 6.83%
against Euro 63060606 of the previous year. However, despite a drop in turnover
by about 6.83O/0, the Net Profit after tax for the year has decreased
marginally by about 2.61% to Euro 2272727 as against Euro 2318181 of the
previous year. The directors express their satisfaction over the performance of
the Company during the financial year, particularly in view of the Global
economic slowdown in the third and fourth quarters of last financial year which
had an impact on the order intake of the Company which was sluggish during the
last quarter of 2008-09 and first quarter of 2009-10 which in turn adversely
impacted the turnover of the company for the year. However, the situation
improved substantially from second quarter of 2009-10 which resulted in a
healthy order book of about Euro 90909090 as at the end of the year and in view
of the same the Directors are confident of achieving 40-50% growth in turnover
in the next financial year.
FORM 8
|
Corporate
identity number of the company |
U51909DL1984PTC019631 |
|
Name of the
company |
MACAWBER BEEKAY
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Beekay House, L – 8, Green Park Extension, New Delhi – 110016, Delhi, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Movable property (not
being pledge) Others |
|
Particular of
charge holder |
Syndicate Bank, 2, Kaushalya Park, Houz Khas, New Delhi-110016, Delhi,
India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation and Power of Attorney and Corporate Guarantee Agreement, list
of charge holder. |
|
Date of
instrument Creating the charge |
25.05.2010 |
|
Amount secured by
the charge |
Euro 41666666 |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per sanction terms
of respective bank. Terms of repayment As per sanction
terms of respective bank. Margin As per sanction
terms of respective bank. Extent and operation of the charge The first pari passu
charge on Company Plant and Machinery company has been sanctioned Fund Based
and Non Fund Based credit limits aggregating to Euro 41666666 under Consortium finance, Syndicate Bank
being the leader of the consortium and Corporation Bank Other Guarantee to
secure due repayment by the borrower M/s. BSBK Engineers Private Limited all
and every sum and sums of money which are now or shall at any time be owing
to the bank. |
|
Short particulars
of the property charged (Including location of the property) |
The first pari
passu charge in favour of the Syndicate Bank being the leader of the
consortium and Corporation Ban |
|
Charge
identification number of the charge to be modified |
10144220 |
|
Particulars of
the present modification |
The aggregate limit
stands enhance from Euro 29356060 to Euro 41666666 sanctioned by Syndicate Bank being the
leader of the consortium and Corporation Bank, being the member of consortium
to be collaterally secured by Hypothecation of plant and Machinery |
FIXED ASSETS
-
Building
-
Plant and Machinery
-
Furniture and Fixtures
-
Office Equipments
-
Vehicles
-
Computer Software
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. 45.94 |
|
|
1 |
Rs. 75.76 |
|
Euro |
1 |
Rs. 66.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.