MIRA
INFORM REPORT
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Report Date : |
10.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
BECTOCHEM CONSULTANTS AND ENGINEERS PRIVATE LIMITED |
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Registered Office : |
201, Ashok House,
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
21.05.2002 |
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Com. Reg. No.: |
11-135950 |
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CIN No.: [Company
Identification No.] |
U29297MH2002PTC135950 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB11166B |
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PAN No.: [Permanent
Account No.] |
AABCB7908G |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer,
Trader, Exporter and Importer of Pharma Machines. |
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 420000 |
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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 PARTED BY
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Name : |
Mr. Piyush |
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Designation : |
Accounts Department |
LOCATIONS
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Registered Office : |
201, Ashok House,
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Tel. No.: |
91-22-28500008 |
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Fax No.: |
91-22-28506785 |
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E-Mail : |
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Website : |
www.bectochem.com
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Area : |
1500sq.ft |
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Location : |
Owned |
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Corporate Office : |
5C / 204, Mittal
Industrial Estate, Andheri – |
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Tel. No.: |
91-22-28500008 /
2400 / 0057 |
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Fax No.: |
91-22-28506785 |
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E-Mail : |
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Website : |
www.bectochem.com
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Area : |
1000 Sq. ft. |
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Location : |
Rented |
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Factory 1 : |
A 1 / 16 / 4906,
GIDC Ankleshwar, Dist. Bharuch, Ankleshwar – 393 002, |
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Tel. No.: |
91-2646-221757/222444 |
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Fax No.: |
91-2646-250714 |
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Area: |
46,000 Sq. ft. |
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Factory 2 : |
Unit No. 10/11,
Sanjay Building No. 6, Mittal Estate, Andheri – Kurla Road, Andheri [East],
Mumbai – 400059 |
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Factory 3: |
Gala No. 108/C, Wing Building No. 5, in
Akshay Mittal Industrial Estate, Andheri – Kurla Road, Andheri [East], Mumbai
– 400059 |
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Factory 4: |
Plot No. 80, PCNTDA, Bhosari, |
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Tel No. : |
91-20-3078 1209 |
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Fax No. : |
91-20-3078 1209 |
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Branch : |
5C/10 Mittal Industrial Estate, Andheri – |
DIRECTORS
As on 27.09.2010
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Name : |
Mr. Rajendra
Bector |
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Designation : |
Director |
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Address : |
201, Ashok House,
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Date of Birth/Age : |
10.10.1936 |
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Date of Appointment : |
21.05.2002 |
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Name : |
Smt. Prem
Rajendramohan Bector |
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Designation : |
Director |
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Address : |
201, Ashok House,
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Date of Birth/Age : |
05.08.1938 |
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Date of Appointment : |
21.05.2002 |
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Name : |
Smt. Sangeeta
Alok Bector |
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Designation : |
Director |
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Address : |
201, Ashok House,
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Date of Birth/Age : |
11.09.1963 |
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Date of Appointment : |
21.05.2002 |
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Name : |
Mr. Alok
Rajendramohan Bector |
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Designation : |
Director |
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Address : |
201, Ashok House,
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Date of Birth/Age : |
15.04.1964 |
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Date of Appointment : |
21.05.2002 |
KEY EXECUTIVES
|
Name : |
Mr. V. C. Kumaran
and Company |
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Designation : |
Company Secretary
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
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Names of Shareholders |
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No. of Shares |
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Rajendra Bector Karta and Representative of
R. M. Bector HUF, |
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225000 |
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Prem Rajendramohan
Bector |
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825000 |
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Sangeeta Alok
Bector |
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240000 |
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R. M. Bector |
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1065000 |
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Alok
Rajendramohan Bector |
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615000 |
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Mona Sanjiv Kalra
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15000 |
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Sunanda Rajesh
Varma |
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15000 |
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Total |
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3000000 |
As on 27.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader,
Exporter and Importer of Pharma Machines. |
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Products : |
Granulation Line: v
Vibro
Sifter v
Auto
Coater v
Coating
Pan v
Paste
Kettle v
Fluid
Bed Dryer v
Multi
Mill v
Co –
Mill v
Double
Clone Blender v
Octogonal
Blender v
Tri
Motion Blender v
Fix
and v
Washing
Systems Ointment Line: v
Oinment
Mixer v
Homogenizer v
Storage Liquid Line: v
Mixing
Tank v
Storage
Tank
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Exports : |
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Products : |
Pharma Machines
and Spares |
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Countries : |
·
US ·
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
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US |
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Terms : |
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Selling : |
L/C, Cash, Credit
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Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
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Suppliers : |
v
Aasham
Engineers Private Limited v
Bosch
Rerxroth India Limited v
Dorik
Plastochem Limited v
Resto
Control Limited v
NTB
International Private Limited v
Jindan
Stainless Limited |
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Customers : |
v
Aarti
Industries Limited v
Aurobindo
Pharma Limited v
Colgate
Palmolive [ v
Granules
India Limited v
BMT
Biomach technologies, v
Rusan
Pharma Limited v
Dr.
Reddy Labs. Limited v
M/s.
Sun Pharma v
M/s.
USV Limited v
M/s. Apotex
Limited v
M/s.
Nicholas Piramal Limited |
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No. of Employees : |
170 ( in office
20, 150 in factory) (Aprroximately) |
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Bankers : |
·
State Bank of Address: Industrial Finance Branch, Sakinaka,
Mumbai – 400072, Email :sbifsaki@bom5vsnl.net.in
·
Navsarjan Industrial Co-operative Bank
Limited ·
HDFC Bank
Address: HDFC Bank House Senapati Bapat Marg, Lower
Parel, Mumbai-400013, ·
Bank of |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Pankaj A Shah and
Company Chartered
Accountants |
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Address : |
12/25, L,
Narjivan Commercial Premises, Co-operative Society Limited, |
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Tel. No.: |
91-22-23074148 |
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Associates/Subsidiaries : |
Address – Ankleshwar Line of Business – Manufacturer of Detergent |
CAPITAL STRUCTURE
As on 27.09.2010
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
Note:
(out of above
shares 1000000 shares are allotted as fully paid up shares by way of bonus
shares, previous year Nil.)
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 |
30.000 |
30.000 |
30.000 |
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2] Share Application Money |
10.000 |
10.000 |
10.000 |
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3] Reserves & Surplus |
64.296 |
52.164 |
34.135 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
104.296 |
92.164 |
74.135 |
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LOAN FUNDS |
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1] Secured Loans |
30.728 |
11.331 |
33.447 |
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2] Unsecured Loans |
22.166 |
13.059 |
8.507 |
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TOTAL BORROWING |
52.894 |
24.390 |
41.954 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.092 |
0.139 |
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TOTAL |
157.190 |
116.646 |
116.228 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
37.124 |
40.109 |
40.649 |
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|
280.680
|
253.956 |
242.545
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|
317.804 |
294.065 |
283.194 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
15.338 |
15.338 |
15.338 |
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DEFERREX TAX ASSETS |
0.287 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
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|
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Inventories |
122.329
|
46.582 |
44.835
|
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Sundry Debtors |
124.159
|
136.011 |
129.151
|
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Cash & Bank Balances |
2.648
|
3.938 |
12.217
|
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Other Current Assets |
0.000 |
0.000 |
0.000
|
|
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Loans & Advances |
31.544
|
67.425 |
56.342
|
|
Total
Current Assets |
280.680
|
253.956 |
242.545
|
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
137.615
|
114.923 |
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Other Current Liabilities |
38.029
|
46.265 |
158.839
|
|
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Provisions |
0.690
|
31.711 |
23.653
|
|
Total
Current Liabilities |
176.334
|
192.899 |
182.492
|
|
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Net Current Assets |
104.346
|
61.057 |
60.053
|
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MISCELLANEOUS EXPENSES |
0.095 |
0.141 |
0.188 |
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TOTAL |
157.190 |
116.645 |
116.228 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL (A) |
434.924 |
510.458 |
526.179 |
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Less |
EXPENSES |
|
|
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|
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TOTAL (B) |
397.924 |
468.227 |
483.082 |
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37.000 |
42.231 |
43.097 |
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Less |
FINANCIAL
EXPENSES (D) |
9.640 |
6.000 |
6.780 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.360 |
36.231 |
36.317 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.755 |
6.834 |
6.288 |
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PROFIT BEFORE TAX
(E-F) (G) |
19.605 |
29.397 |
30.029 |
|
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Less |
TAX (H) |
6.753 |
11.283 |
10.459 |
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PROFIT AFTER TAX
(G-H) (I) |
12.852 |
18.114 |
19.569 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
52.164 |
34.135 |
14.566 |
|
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|
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Less |
APPROPRIATIONS |
0.720 |
0.086 |
0.000 |
|
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|
|
|
BALANCE CARRIED
TO THE B/S |
64.296 |
52.164 |
34.135 |
|
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EARNINGS IN
FOREIGN CURRENCY |
46.112 |
53.922 |
103.288 |
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IMPORTS |
14.925 |
13.925 |
13.974 |
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|
Earnings Per
Share (Rs.) |
4.28 |
6.04 |
10.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.95
|
3.55 |
3.71
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.17
|
10.00 |
10.60
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.32 |
0.40
|
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.20
|
2.36 |
3.02
|
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.32 |
1.32
|
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
Overall Net Sales
registered 15.85% decrease to Rs.449.800 millions compared to Rs.534.500
millions for F.Y.2008-09.
Net Profit before
Tax at Rs.19.606 millions was 33.31% less in comparison to F.Y.2008-09.
Increase in Depreciation at Rs.0.921 million over Rs.6.834 millions last year.
Financial Cost showed an increase of 60.67% compared to last year.
The plant at Ankleshwar, Mumbai and Pune performed well during the year.
Projects:
The company is
continuously on expansion programme at its units at Ankleshwar, Mumbai and
Pune. The company is continuously in process of global acquisition of company
which will considerably increase company's turnover and profits with the
introduction of new line of products having an international demand.
Finance:
Good management of
working capital comprising Inventory and Receivables helped the Company in
generating enough cash flow. The level of external borrowings remained in the
adequate limit during the year. The company acquired entire shares of the
private limited company under the same management in 2006-07 financial year.
Consequent to acquisition of above shares that company has became 100%
subsidiary company and company is benefited by user of manufacturing facility
at the premises of subsidiary company.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29297MH2002PTC135950 |
|
Name of the
company |
BECTOCHEM
CONSULTANTS AND ENGINEERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
201, Ashok House,
|
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10117560 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
HDFC Bank, HDFC Bank House Senapati Bapat Marg, Lower
Parel, Mumbai-400013, |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Letter of Hypothecation. |
|
Date of
instrument Creating the charge |
16.10.2010 |
|
Amount secured by
the charge |
Rs.110.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of
Repayment On Demand Margin As may be stipulated
by the Bank from time to time. Extent and
Operation of the charge Hypothecation by
way of First Charge on Company's Stock in Trade, Book Debts, etc, to secure as a continuing security as
mentioned in Column No.15 below for the repayment of Rs.110.000 millions
together with interest, costs, charges, expenses and other moneys due and
payable by the Company to the Bank. |
|
Short particulars
of the property charged |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties All the debts,
that is, all the book debts, outstandings, monies receivables, claims, bills, invoice documents, contracts,
guarantees, and rights |
|
Particulars of
the present modification |
The Charge shall
now stand increased from Rs.100.000 millions to Rs.110.000 millions, against
the security of Stock in Trade, Book Debts of the Company. |
Fixed Assets
·
Computer
·
Factory
Premises
·
Furniture
and Fixture
·
Motor
Car
·
Plant
and Machinery
·
Fax
Machine
·
Xerox
Machine
·
Gala
No. 204/205
·
Vacuum
cleaner
·
Typewriter
·
Cranes
·
Cycle
·
Generator
·
Motor
Bike
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.45.44 |
|
|
1 |
Rs.70.61 |
|
Euro |
1 |
Rs.58.63 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
- |
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.