MIRA
INFORM REPORT
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Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MCNALLY BHARAT ENGINEERING COMPANY LIMITED |
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Formerly Name: |
PRABHUDAYAL
RAMKRISHNA PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
10.07.1961 |
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Com. Reg. No.: |
21-25181 |
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CIN No.: [Company
Identification No.] |
L45202WB1961PLC025181 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM08976C /
RCHM01882G |
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PAN No.: [Permanent
Account No.] |
AABCM9443R |
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Legal Form : |
A public limited liability company.
The company's shares are listed on the Stock Exchanges |
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Line of Business : |
Manufacturing of Industrial Machinery and Equipment and also in Consultancy
and Industrial Turnkey Projects. |
RATING & COMMENTS
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MIRA’s Rating : |
A (58) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 9017000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having fine track. Financial position of the company
appears to be sound. 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
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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 |
LOCATIONS
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Registered/Corporate Office : |
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Tel. No.: |
91-33-2213 8905 / 08 / 22480847
/ 0919 / 65500725-39 |
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Fax No.: |
91-33-22480340 / 22485016 |
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E-Mail : |
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Website : |
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Corporate
Office : |
Ecospase, 11F/12 (Old Plot No. AA-II/Bik-3), New Town, Rajaarhat,
North 24, Parganas - 700156, |
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Tel. No.: |
91-33-30141111 / 66281111 |
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Fax No.: |
91-33-30142277 / 66282277 |
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E-Mail : |
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Factory 1 : |
Production
Division: P. O.
Kumardhubi, Dist. Dhanbad, Jharkhand,
Bihar – 828203, Tel. No. 91-6540-223010 / 11/ 13 / 15 / 19
/ 47 / 48 / 272200 Fax No. 91-6540-273024 Cable MEDOLARK KUMARDHUBI E Mail: mbe@dte.vsnl.net.in Plot No.21A, Doddanakundi Industrial Area, 2nd Stage,
Mahadevpura Post, Bnagalore - 560 048. Tel No : 91-80-28541997
/ 98 Fax No : 91-80-51153784 E-Mail : mbe@mcnallyblr.com Roads Division
44, Tel. No. : 91-33-22478611 / 22403479 / 0221 / 3338 /
22800810 / 0811 Fax No. : 91-33-22402086 / 22802707 E-Mail
: corporate@mcnallybharat.com Website http://www.mbecal.com Cable
MEDOLARK, KOLKATA Southern Division :
Tel.
No. 91-80-8452596 To 99 Fax
No.91-80-8452764 Cable MINIPRO WHITEFIELD E
Mail mbl@mcnallyblr.com |
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Regional offices |
Located at : Mumbai and |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Virendra Kumar Verma |
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Designation : |
Director |
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Name : |
Mr. Deepak Khaitan |
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Designation : |
Chairman |
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Name : |
Mr. Sanjay Kumar Pasari |
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Designation : |
Director |
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Name : |
Mr. Utsav Parekh |
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Designation : |
Director |
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Name : |
Mr. Chandrakant Pasari |
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Designation : |
Director |
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Name : |
Mr. Shanti Prasad Singhi |
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Designation : |
Vice Chairman |
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Name : |
Mr. Srinivash Singh (Upto June 17, 2010) |
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Designation : |
Director |
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Name : |
Mr. Amritanshu Khaitan |
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Designation : |
Director |
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Name : |
Mr. Subir Ranjan Dasgupta |
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Designation : |
Director |
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Name : |
Mr. Asim Kumar Barman (with effect from December 1, 2009) |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. D. Chatterjee |
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Designation : |
Company Secretary |
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Name : |
Mr. Deepak Khaitan |
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Designation : |
Chairman |
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Name : |
Mr. Shanti Prasad Singhi |
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Designation : |
Vice Chairman |
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Name : |
Mr. Prabir Ghosh |
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Designation : |
President and Chief Executive Officer |
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Name : |
Mr. Prasanta Kumar Chandra |
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Designation : |
President (Operation) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A)
Shareholding of Promoter and Promoter Group |
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8,700 |
0.03 |
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9,490,942 |
30.52 |
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9,499,642 |
30.55 |
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Total
shareholding of Promoter and Promoter Group (A) |
9,499,642 |
30.55 |
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(B)
Public Shareholding |
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5,165,082 |
16.61 |
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640 |
- |
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2,034,151 |
6.54 |
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5,622,563 |
18.08 |
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12,822,436 |
41.24 |
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2,019,720 |
6.50 |
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3,009,164 |
9.68 |
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3,404,846 |
10.95 |
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338,010 |
1.09 |
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338,010 |
1.09 |
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8,771,740 |
28.21 |
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Total
Public shareholding (B) |
21,594,176 |
69.45 |
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Total
(A)+(B) |
31,093,818 |
100.00 |
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(C) Shares
held by Custodians and against which Depository Receipts have been issued |
- |
- |
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Total
(A)+(B)+(C) |
31,093,818 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 MillionsBUSINESS DETAILS
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Line of Business : |
Manufacturing of Industrial Machinery and Equipment and also in
Consultancy and Industrial Turnkey Projects. |
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Products : |
v
Material Handling and Conveying Plant / Machinery v
Crushing and Screening Plant / Machinery / Spares v
Ball Mills - Plant / Machinery / Spares |
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Product Description : |
v
Turnkey project in Bulk Material Handling v
Turnkey Projects in mineral Benefication v
Manufacture and sale of equipments for such
projects |
GENERAL INFORMATION
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No. of Employees : |
Around 885 |
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Bankers : |
v
Bank of v
State Bank of Address: Mumbai – 400 021, v Canara Bank v
United Bank of v UCO Bank v Oriental Bank of Commerce v Indian Overseas Bank v
Union Bank of v ICICI Bank Limited v ING Vysya Bank Limited v Axis Bank Limited v Karur Vysya Bank v ANZ Grindlays Bank Limited Address: Kolkata – 700 001, West |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors : |
Lovelock and Lewes |
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Chartered Accountant |
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Memberships: |
Confederation of Indian Industry |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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40000000 |
Equity shares |
Rs. 10/- each |
Rs.400.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
31093818 |
Equity shares |
Rs. 10/-
each |
Rs.310.938
millions |
Note:
Of the above
Shares:
i) 486100 Shares were allotted as fully paid-up pursuant to Contracts
without payments being received in cash
ii) 1257930 Shares were issued as fully paid-up Bonus Shares by
capitalization of General Reserve
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
310.938 |
310.938 |
286.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1943.237 |
1649.114 |
1083.400 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2254.175 |
1960.052 |
1370.300 |
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LOAN FUNDS |
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1] Secured Loans |
2010.008 |
1508.953 |
506.500 |
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2] Unsecured Loans |
0.000 |
1.304 |
119.900 |
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TOTAL BORROWING |
2010.008 |
1510.257 |
626.400 |
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DEFERRED TAX LIABILITIES |
93.683 |
83.388 |
0.000 |
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TOTAL |
4357.866 |
3553.697 |
1996.700 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
874.231 |
413.379 |
619.400 |
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Capital work-in-progress |
0.733 |
55.847 |
185.800 |
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INVESTMENT |
1567.674 |
773.552 |
147.100 |
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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 |
263.720
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56.937
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256.100
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Sundry Debtors |
9943.609
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6273.944
|
3711.200
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Cash & Bank Balances |
326.189
|
278.440
|
705.000
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Other Current Assets |
806.967
|
1771.489
|
0.000
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Loans & Advances |
2094.121
|
1047.994
|
1006.100
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Total Current Assets |
13434.606
|
9428.804
|
5678.400 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
11386.813
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7038.523
|
4561.300
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Provisions |
132.565
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79.362
|
72.700
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Total Current Liabilities |
11519.378
|
7117.885
|
4634.000 |
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Net Current Assets |
1915.228
|
2310.919
|
1044.400 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4357.866 |
3553.697 |
1996.700 |
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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 |
14843.699 |
9679.771 |
5467.812 |
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Other Income |
29.907 |
54.590 |
32.762 |
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TOTAL (A) |
14873.606 |
9734.361 |
5500.574 |
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Less |
EXPENSES |
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Materials |
8991.397 |
6123.246 |
2997.879 |
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Increase / (Decrease) in jobs-in-progress |
0.000 |
0.000 |
27.279 |
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Outsourcing Expenses to outsiders for job
Work. |
2753.947 |
1667.520 |
954.616 |
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Advance / Debts written off/ provision /
liabilities written back |
10.880 |
17.995 |
(11.454) |
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Profit on transfer of the products Division
of the Company. |
0.000 |
(230.719) |
0.000 |
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Other Expenses |
2230.421 |
1290.847 |
1097.733 |
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TOTAL (B) |
13986.645 |
8868.889 |
5066.053 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
886.961 |
865.472 |
434.521 |
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Less |
FINANCIAL
EXPENSES (D) |
304.977 |
327.688 |
88.937 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
581.984 |
537.784 |
345.584 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.558 |
24.108 |
22.535 |
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PROFIT BEFORE
TAX (E-F) (G) |
532.426 |
513.676 |
323.049 |
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Less |
TAX (I) |
185.492 |
172.507 |
99.049 |
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PROFIT AFTER TAX
(G-I) (J) |
346.934 |
341.169 |
224.000 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
714.519 |
436.822 |
249.952 |
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Less |
APPROPRIATIONS |
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Proposed Dividend |
46.641 |
38.867 |
31.094 |
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Tax on Dividend |
6.170 |
6.605 |
5.284 |
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Proposed Dividend for last year |
0.000 |
0.000 |
0.636 |
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Tax on Dividend for last year |
0.000 |
0.000 |
0.116 |
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Transfer to General Reserve |
18.100 |
18.000 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
990.542 |
714.519 |
473.952 |
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IMPORTS |
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Components, Spare parts and Stores |
804.224 |
112.163 |
NA |
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Capital Goods |
53.747 |
97.821 |
NA |
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TOTAL IMPORTS |
857.971 |
209.984 |
NA |
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Earnings Per
Share (Rs.) |
11.16 |
10.98 |
8.10 |
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QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2010 1ST
Quarter |
30.09.2010 2nd
Quarter |
|
Net Sales |
|
2838.900 |
4018.000 |
|
Total Expenditure |
|
2682.900 |
3799.300 |
|
PBIDT (Excl OI) |
|
156.000 |
218.700 |
|
Other Income |
|
14.900 |
35.200 |
|
Operating Profit |
|
170.900 |
253.900 |
|
Interest |
|
59.900 |
86.700 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
111.000 |
167.200 |
|
Depreciation |
|
17.900 |
20.800 |
|
Profit Before Tax |
|
93.100 |
146.400 |
|
Tax |
|
31.600 |
49.800 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
61.500 |
96.600 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
61.500 |
96.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.33
|
3.50 |
4.07 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
3.59
|
5.31 |
5.91 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.72
|
5.22 |
5.13 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.26 |
0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.00
|
3.84 |
3.84 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.32 |
1.22 |
LOCAL AGENCY FURTHER INFORMATION
Operations and Business Performance
2009-10 turned out to be yet
another record year during which the company achieved highest ever Turnover and
profits. The total income for the year was Rs 14870.000 Millions as against Rs
9960.000 Millions during the previous year.
Activity Highlights
The company implemented the Oracle
based ERP system across all Divisions during the year. PWC were the implementing
Consultants.
The company has signed a
collaboration agreement in January 2010 with
During the year they appointed
KPMG for valuable Advisory assistance in Strategic and Business Planning. They
have submitted their Report covering Business Plan Projections for the 5 year
period 2010-15 and have also assessed additional business from new businesses
with the goal to achieve Rs 70000.000 Millions turnover for the Group by 2015.
Their study also involved preparing the Financing strategy for their growth
Plans and also review the key Business Process capabilities for the EPC
business.
They had also appointed PWC to
propose recommendations on organization transformation and re-structuring.
Their scope of work covered developing the organizational structure to handle
future growth, design of Performance Management System, Talent and Leadership
development and change management.
They engaged Ernst and Young for a
diagnostic review of operational processes across the company.
Three new Business divisions were
set up during the year. The Cement EPC group have signed an MOU with KHD
Humboldt International to jointly bid for turnkey contracts in setting up
cement plants, where Humboldt provides the technology and key products and MBE
executes the Project. The Oil and Gas group is focusing primarily on the Civil
and Mechanical Packages and plans to graduate in the next 2 to 3 years to
executing EPC projects in Refineries. The Nuclear Group is focused on obtaining
EPC projects in
The International Division has
been formed to primarily focus on
Subsidiaries
McNally Sayaji Engineering Limited.
During the year the company scaled
new heights and recorded a sales turnover of Rs 3110.000 Millions, which was an
increase of over 50% over sales in 2008-09 amounting to Rs 2040.000 Millions.
Pre Tax profit grew by 15 % to Rs 353.800 Millions, as compared to Rs 308.500 Millions, in the previous
year while post tax profits at Rs 233.700 Millions registered a growth of 20%.
Some of the major orders received during the year:
• Order from MSPL for equipment
for 150 TPH iron ore beneficiation plant, valued at Rs 140.000 millions.
• Order from International Mineral
Trading for Ball Mill, Scrubbers, Feeders valued at Rs 90.000 millions.
• Export order from Vale,
• Order from HEC for coke bridge
crusher valued at Rs 53.500 Millions.
The new plant at Malur near
Humboldt Wedag Mineral India Private Limited.
Consequent to the takeover from
CMT Division of KHD Humboldt Wedag GmbH, the turnover of the
Some of the major orders received
during this period include
• 660 TPH Coal washery for Bhushan
Steel valued at Rs 440.000 Millions.
• Chrome ore beneficiation plant
for Orissa Mining Corporation valued at Rs 350.000 Millions.
• Disc Filter and Diaster filter
from Anrak Aluminium valued at Rs 110.000 Millions.
During the year, several Coal
washery projects were completed including 600 TPH plant for Bhushan Power and
Steel, Gujarat NRE Coke Limited Bahchau plant, 300 TPH Belpahar plant of Global
Coal, 2.5 mtpa non coking coal washery for SV Power at Korba, Ultratech Awarpur
plant. The 50TPH Ferro Manganese and Ferro Silica slag recovery plant of Jindal
Steel has been commissioned.
The technical tie-ups with
Gaudfrin France and AKW Germany have helped in securing significant orders. The
industrial Centrifuge business continues to grow and this trend is expected to
continue in the coming years.
MBE Coal & Minerals Technolgy GmbH
The Turnover of the German entity
for the period July 2009 to March 2010 was Euro 11 Million.
Many initiatives have been taken
to integrate the company into the MBE Group. To announce the acquisition by MBE,
MBE-CMT have have done a mailer campaign with all customers with the message
"new name, new colour, the essential endure" and also advertised in
several mining journals.
MBE Minerals SA Pty Ltd
The turnover of the South African entity
for the period ended March 2010 was ZAR 95.8 Million.
The turn over of the manufacturing
unit for the period ended March 2010 was Euro 4.5 Million.
EWB Kornyezetvedelmi Kft
EWB Kornyezetvedelmi showed
significant growth in Billing and over 99% was from export markets since the
demand from power plants in
The Statement pursuant to Section
212 of the Companies Act, 1956 containing details of the Company's subsidiaries
is attached.
The Consolidated Financial
Statements of the Company and its subsidiaries, prepared in accordance with
Accounting Standard AS 21 form part of the Annual Report.
In terms of the approval granted
by the Central Government under Section 212(8) of the Companies Act, 1956, copy
of the Balance Sheet, Profit and Loss Account, Reports of the Board of
Directors and Auditors of the Subsidiaries have not been attached to the
Balance Sheet of the Company. These documents would be made available upon
receipt from any member of the Company interested in obtaining the same.
However as directed by the Central Government, the financial data of the
subsidiaries have been separately furnished forming part of the Annual Report.
The accounts of the individual
subsidiary companies shall be uploaded on the Website of the Company. These
documents would also be available for inspection at the Registered Office of
the Company and at the office of the respective subsidiary companies, during
working hours upto the date of the Annual General Meeting.
Health and Safety
The company gives utmost
importance to the health and safety of the employees. Various measures are
being taken at our site locations, such as:
• Daily safety inspection at site
by Safety Officers of each Project site
• To identify unsafe acts &
conditions and accordingly safet ymeasures are taken on a daily basis
• Regular safety training programs
are conducted at sites for workmen
• Safety promotion activities are
carried out on an ongoing basis; Posters, slogans, No smoking signs, safety
barricades displayed prominently
• Competition and contests on Safety
are conducted for workmen and prizes distributed
Fixed Assets:
· Land (Freehold And Leasehold),
· Buildings
· Plant and Machinery
· Vehicles,
· Furniture and Fixtures,
· Refrigerators and Air Conditioners,
· Office Equipment,
· Telephone Plant
AS PER WEBSITE
About Company
Subject (MBE) is one of the leading Engineering Companies in
India engaged in providing turnkey solutions in the areas of Power, Steel,
Aluminium, Material Handling, Mineral Beneficiation, Pyroprocessing, Pneumatic
Handling of powdered materials including fly ash handling and high concentrate
disposal, coal washing, port cranes, civic and industrial water supply etc.
Over 300 plants have been constructed on turnkey basis by MBE till March 2009.
The Company, headquartered at Kolkata, is a part of the
Williamson Magor Group.
The turnkey construction activity of the company is managed
through separate Projects Business Groups that assume responsibility for each
activity from concept to commissioning. MBE has been awarded ISO 9001:2000
certification.
MBE manufactures a wide range of products required for its
various projects through its subsidiary company McNally Sayaji Engineering
Limited. (MSE), to whom it provides the requisite technology and design to
manufacture the products. MSE product range includes crushing, screening and
milling equipment, pressure vessels, material handling equipment, steel plant
equipment, process equipment like flotation cell, thickeners, slurry pumps etc.
MBE has technical collaborations with some of the world’s
leading firms for each of their activities. Some of our associates include
SOLIOS - France, Poltegor- Poland, TPE - Russia, DMT - Germany, Siemens Vai -
France, KCI Cranes - Finland, CODCO - China, GRD Minproc - Australia, Gea Messo
- Swiss, MCC (China) Uralmash Engg. -
MBE also has a second subsidiary, EWB Kornyezetvedelmi Kft.,
Vision :
MBE will emerge as one of the “best-in-class” organizations in the area of infrastructure development, continuing to consolidate the ongoing process of expansion and venturing into new areas of business maintaining all the way, a high standard of corporate governance. It will rapidly enhance its growth in turnover and net worth, sharing benefits among all its stake holders and assuring customers of quality in all its products and services.
Their
1. Enhanced effectiveness of our
people in all functional areas.
2. Long term co-operation and
partnership with vendors and associates to expand the base for production of
goods and services.
3. Adequate R and D facilities to
provide innovative designs and methods of production.
4. Excellence in all our business
operations through an all-pervasive Total Quality Management Programme.
5. Improved communication
internally as well as with customers and other stakeholders, through
appropriate use of information technology and an effective information security
management system.
Historical
Background
Subject commenced business as McNally Bird Engg. Company. Limited. in a
serene township at Kumardhubi (near Dhanbad) as the Indian arm of McNally
Pittsburg, USA one of the then leading companies in the world engaged in the
construction of coal washeries and Mineral Beneficiation plants with the
erstwhile Bird and
Company, a British Managing Agency acting as secretary and managers. The
company started with expatriate Americans taking care of major Engineering,
Design and Manufacturing functions.
Subject was a pioneer in the country in its initial areas of business,
viz Coal preparation, Mineral Benficiation and Bulk Material Handling and there
are several firsts attributed to company. Some of the major milestones in the
history of MBE are given below:
Directors :
Mr.
Deepak Khaitan
Chairman,
McNally Bharat Engineering Company Limited
Mr.
Deepak Khaitan is the eldest son of Mr. B.M. Khaitan and a renowned
industrialist. Mr. Khaitan’s company Eveready Industries India Limited is one
of the most renowned and enduring FMCG companies with the operations entrenched
in the country for over 100 years. He has in-depth exposure to and over
30 years of experience in steering diverse business enterprises in
Mr.
Khaitan is the Vice Chairman and Managing Director of Eveready Industries India
Limited, Chairman of McNally Sayaji Engineering Limited and a Director of the
Williamson Magor Group of Companies along with Directorship in many other
companies. Mr. Deepak Khaitan secured First class in B.Com (Hons.) from
Mr.
Shambhu Prasad
MD,
McNally Sayaji Engineering Limited
Mr
Shambhu Prasad is presently the Managing Director of McNally Sayaji Engineering
Limited. He is a Mechanical Engineer from BIT, Sindri. He has over 39 years
rich experience in the Engineering Industry. Prior to joining MBE, he worked in
various capacities in Durgapur Steel Plant, Tata Robins Fraser and TEGA . He
has been with MBE since 1984, initially in Projects and Contracts Division and
then moving over to the Manufacturing Units, where he was the Senior Vice
President of the Product Division.
Mr. P. K. Chandra
President, Projects Division, McNally Bharat Engineering Company Limited
Mr.
Chandra is a Mechanical Engineer, a Cost Accountant and has done his
Post-graduation in Marketing Management. He has a brilliant academic record to
his credit. He was 1977 batch all-branch topper in engineering from
He has
approximately 30 years of experience in various Multi-National and
professionally managed Companies located at Kolkata, Mumbai and
He has
been associated with various Institutes like the
Mr.
P. K. Ghosh
President
(Corporate Finance) & CFO, McNally Bharat Engineering
Prabir
Ghosh, 49 years, is a qualified Chartered Accountant (trained in Price
Waterhouse) with over 25 years of experience in the areas of Financial Policies
and Systems, Corporate Finance, Treasury Management, Manufacturing Accounting,
International Finance including GDR, ECB & Suppliers credit, Taxation,
Commercial Function including export, import, purchase, exim matters,
handling and leading techno-commercial team for large projects,
information system development, General Management, Industrial relations and
Corporate Strategy. Till 1998 he was Sr Vice-President (Treasury), heading
financial & commercial functions of India Foils Limited.
Between 1999-2001 he served as President in IFB Agro Industries Ltd., having
businesses in distillery, Liquor, marine processing and export. Since November
2001 he is working as Chief Financial Officer in MBE. He has played a crucial
role in re-engineering process and repositioning of the Company to its current
form .
He is
serving as an active member in different committees and sub-committees (both in
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. 45.30 |
|
|
1 |
Rs. 71.73 |
|
Euro |
1 |
Rs. 60.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
58 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
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.