Business
information report
1. Summary Information
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Country |
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Company Name |
BIHANI MANUFACTURING COMPANY PRIVATE LIMITED |
Principal Name 1 |
Mr. Jaideep Bihani |
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Status |
Moderate |
Principal Name 2 |
Mr. Saurabh Bihani |
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|
Registration # |
061783 |
|
Street Address |
B 184, Okhla Industrial Area, Phase I, |
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|
Established Date |
27.09.1994 |
SIC Code |
-- |
|
Telephone# |
91-11-26812554 / 26372554 |
Business Style 1 |
Manufacturer of PVC Compound |
|
Fax # |
91-11-26371343 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
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|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 10,000,000 |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors 57.45% |
Banking |
Small Industries Development Bank of |
|
Public Limited Corp. |
-- |
Business Period |
17 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
B (30) |
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Related
Company |
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Relation
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Country
-- |
Company
Name |
-- |
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Note |
- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
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|
Current Assets |
89,898,000 |
Current Liabilities |
45,142,000 |
|
Inventories |
27,333,000 |
Long-term Liabilities |
88,818,000 |
|
Fixed Assets |
52,187,000 |
Other Liabilities |
14,334,000 |
|
Deferred Assets |
0 |
Total Liabilities |
148,294,000 |
|
Invest& other Assets |
41,000 |
Retained Earnings |
11,165,000 |
|
|
|
Net Worth |
21,165,000 |
|
Total Assets |
169,459,000 |
Total Liab. & Equity |
169,459,000 |
|
Total Assets (Previous Year) |
143,658,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
284,653,000 |
Net Profit |
1,255,000 |
|
Sales(Previous yr) |
265,086,000 |
Net Profit(Prev.yr) |
2,439,000 |
MIRA INFORM
REPORT
|
Report Date : |
14.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BIHANI MANUFACTURING COMPANY PRIVATE LIMITED |
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B 184, Okhla Industrial
Area, Phase I, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.09.1994 |
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Com. Reg. No.: |
061783 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 millions |
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|
|
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CIN No.: [Company Identification
No.] |
U74899DL1994PTC061783 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB07146G |
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PAN No.: [Permanent Account No.] |
AAACB2742F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of PVC Compound |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 84600 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are fair. Business
is active. Payments are reported to be slow but correct. The company can be considered for small 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 |
LOCATIONS
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Registered Office : |
B 184, Okhla Industrial Area, Phase I, |
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Tel. No.: |
91-11-26812554 / 26372554 |
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Fax No.: |
91-11-26371343 |
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E-Mail : |
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Website : |
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Factory 1 : |
A 9 , DDA Sheds, Okhla Industrial Area, Phase II, |
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Factory 2 : |
Industrial Area Chopanki Bhiwadi Distt Alwar 30109, |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Jaideep Bihani |
|
Designation : |
Director |
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Date of Birth/Age : |
21.02.1979 |
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Date of Appointment : |
01.04.2008 |
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Name : |
Mr. Saurabh Bihani |
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Designation : |
Director |
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Date of Birth/Age : |
14.08.1980 |
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Date of Appointment : |
12.08.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Smt. Santa Bihani |
73000 |
|
Mr. Raj Kumar Bihani |
4000 |
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Mr. Sanjeev Chaudhary |
4700 |
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Mr. B.N. Jha |
1800 |
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Smt. Lalita Devi Bihani |
1500 |
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The Prompt (P) Limited =, |
50000 |
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Mr. Pawan Kr. Taparia |
500 |
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M/s Sushil Bihani and Sons (HUF) |
50000 |
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Mr. Jaideep Bihani |
205000 |
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Mr. Saurabh Bihani |
241000 |
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M/s Tejasvi Investments Private Limited, |
35000 |
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M/s Taurus Iron and Steel
Company Private Limited, |
43500 |
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M/s Hakmans Financial Private Limited, Mumbai |
50000 |
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Benco Finance and Investment Private Limited, Mumbai |
50000 |
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R.S. Services Private Limited, |
37500 |
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M/s Modular Enterprises, |
62500 |
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Sujala Finance Private Limited, |
45000 |
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Baid Stock Broking Services Private Limited, |
45000 |
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Total
|
1000000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
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Bodies corporate |
|
41.85 |
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Directors or relatives of directors |
|
57.45 |
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Other top fifty shareholders |
|
0.70 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of PVC Compound |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Small Industries Development Bank of |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P K Taparia and Associates Chartered Accountant |
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Address : |
15 Radha Bazar, Hissar125001, |
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Associates/Subsidiaries : |
Nil |
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CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1000000 |
Equity Shares |
Rs. 10 each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000000 |
Equity Shares |
Rs. 10 each |
Rs.10.000 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 |
10.000 |
10.000 |
6.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.165 |
9.910 |
11.074 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
21.165 |
19.910 |
17.674 |
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LOAN FUNDS |
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1] Secured Loans |
64.518 |
57.694 |
20.729 |
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2] Unsecured Loans |
24.300 |
19.350 |
15.250 |
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TOTAL BORROWING |
88.818 |
77.044 |
35.979 |
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DEFERRED TAX LIABILITIES |
0.564 |
0.996 |
0.039 |
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SHARE PREMIUM |
13.770 |
13.770 |
0.000 |
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TOTAL |
124.317 |
111.720 |
53.692 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
52.187 |
52.211 |
6.665 |
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Capital work-in-progress |
0.000 |
0.801 |
8.915 |
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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 |
27.333
|
9.963 |
7.242 |
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Sundry Debtors |
81.625
|
67.819 |
61.141 |
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Cash & Bank Balances |
0.350
|
4.281 |
3.834 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
7.923
|
8.535 |
0.827 |
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Total
Current Assets |
117.231
|
90.598 |
73.044 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
44.156
|
31.200 |
34.299 |
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Other Current Liabilities |
0.986
|
0.738 |
0.686 |
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Provisions |
0.000 |
0.000 |
0.000 |
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Total
Current Liabilities |
45.142
|
31.938 |
34.985 |
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Net Current Assets |
72.089
|
58.660 |
38.059 |
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MISCELLANEOUS EXPENSES |
0.041 |
0.048 |
0.053 |
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TOTAL |
124.317 |
111.720 |
53.692 |
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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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Sales |
284.653 |
265.086 |
242.737 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL (A) |
284.653 |
265.086 |
242.737 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
282.833 |
261.139 |
238.646 |
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Advertising Expenses |
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TOTAL (B) |
282.833 |
261.139 |
238.646 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.820 |
3.947 |
4.091 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.820 |
3.947 |
4.091 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
1.820 |
3.947 |
4.091 |
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Less |
TAX (H) |
0.565 |
1.508 |
1.453 |
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PROFIT AFTER TAX
(G-H) (I) |
1.255 |
2.439 |
2.638 |
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Earnings Per
Share (Rs.) |
-- |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.44
|
0.92 |
1.08 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.63
|
1.48 |
1.68 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.07
|
2.76 |
5.13 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.19 |
0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
|
7.00
|
6.21 |
4.01 |
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Current Ratio (Current Asset/Current Liability) |
|
2.59
|
2.83 |
2.08 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
- Land
- Furniture and
Fixture
- Motor Car
- Air
Condirtioner
- Invertor
- Plant and
Machinery
- Scooter
- Water Filter
- Lift Machine
- Transformer
FORM 8
|
Corporate
identity number of the company |
U74899DL1994PTC061783 |
|
Name of the
company |
BIHANI MANUFACTURING COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B 184, Okhla Industrial Area, Phase I, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Movable property
(not being pledge) |
|
Particular of
charge holder |
Small Industries Development Bank of Email: javed@sidbi.in |
|
Nature of
instrument creating charge |
Agreement of Term
Loan Limit cum Hypothecation dated 16/12/2010 and Declaration and Undertaking dated
16/12/2010. |
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Date of
instrument Creating the charge |
16.12.2010 |
|
Amount secured by
the charge |
Rs. 47.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest will be payable
at the rate of 11.50% p.a., with monthly rests, on the principal amount of
the Loan limit outstanding from time to time. Terms of repayment Amount of Rs.
7.500 millions is repayable in 54 monthly installments comprising of first 53
installments of Rs.0.140 million followed by last (54th) installment of
Rs.0.080 million commencing after six months of moratorium. Margin As per Sanction
Letter Extent and operation of the charge To the extent of
entire financial assistance of Rs.47.500 millions granted to the company
together with interest , costs, charges and all other monies to secure total
facility of Rs.47.500 millions . |
|
Short particulars
of the property charged (Including location of the property) |
SIDBI will have first
charge over the assets acquired out of the present loan i.e Term Loan limit
of Rs.7.500 millions (The Loan limit)
under Privileged Customer Scheme (the Scheme). Exclusive first
charge by way of Equitable mortgage of all those piece and parcel of immovable
property at F-471 & 471(A), Chopanki Industrial Area, Bhiwadi, Dist- Alwar, Rajasthan
admeasuring 4050.00 Sq. Mtr. First charge by
way of hypothecation of all the movable assets including the plant,
equipment, machinery, machinery spares, tools, accessories, and all other
assets which have been acquired under the SIDBI Loan-I valued at Rs.19.900
millions installed at F-471 & 471(A), Chopanki Industrial Area, Bhiwadi,
Dist- Alwar, Rajasthan, together with spares, tools and accessories and other
movables. |
|
Particulars of
the present modification |
Extending the
present charge on movable and immovable assets of the company for loan/
financial assistance increase from Rs.40.000 millions to Rs.47.500 millions |
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.44.91 |
|
|
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
TOTAL |
|
30 |
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.