MIRA
INFORM REPORT
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Report Date : |
21.10.2011 |
IDENTIFICATION DETAILS
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Name : |
BHANSALI STEEL INDIA |
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Registered
Office : |
Not Divulged |
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Country : |
India |
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Year of
Establishment : |
1992 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Not Available |
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Line of Business
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
--- |
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Comments : |
The management denied to disclose any information about the subject
company. No further information would be available. Initially subject can be considered for business dealings on a safe
and secured 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 DECLINED BY
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Name : |
Mr. Vimal Bhansali |
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Designation : |
Not Divulged |
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Date : |
21.10.2011 |
LOCATIONS
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Registered Office : |
Not Divulged |
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Tel. No.: |
Not Divulged |
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Mobile No.: |
91-9987599522 (Mr. Vimal Bhansali) |
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Fax No.: |
Not Available |
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Website : |
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Corporate Office : |
35/39, Dr. Deshmukh Lane, Sagar Building, Shop No.9, V. P. Road,
Mumbai-400004, Maharashtra, India |
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Tel. No.: |
91-22-66595379/ 66363379 |
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Fax No.: |
91-22-23886073 |
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E-Mail : |
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Factory 1 : |
C-8/3, TTC Industrial Area, Village Pawne, Navi Mumbai-400705, Maharashtra,
India |
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Factory 2 : |
Plot No.551-559, Sector-3, Industrial Area, Pitampur, District Dhar,
Indore, India |
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International Market : |
Located At
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SOLE PROPRIETOR/PARTNERS
Not Divulged
BUSINESS DETAILS
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Line of Business : |
Not Available |
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Products : |
v Bright Bars v Hex and Square
Bars v Wire v Threaded Bars v Flanges v Wire Rods v Components v Black Bars v Pipes and Tubes v Sheets and
Plates |
GENERAL INFORMATION
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Customers : |
·
Ordinance Factories ·
Gas Authority of India Limited ·
Gujarat fertilizer Corporation ·
Hindustan Aeronautics Limited ·
Nuclear Power Corporation of India limited ·
Bhabha Atomic Research Centre ·
Reliance ·
L and T ·
Kirloskars ·
Ingersoll Rand |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
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Group Companies : |
·
Bhansali Bright Bars Private Limited ·
Bhansali Metal Corporation ·
Bhansali Ferromet Private Limited |
CAPITAL STRUCTURE
Not Divulged
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
LOCAL AGENCY FURTHER INFORMATION
Note:
The concern person has declined to give any information.
WEB SITE DETAILS
CORPORATE PROFILE
“Bhansali” was established
in 1992 as a professional manufacturer of Stainless Steel Bright Bars and to
meet the growing needs of Domestic and International Markets. Bhansali is one
of the Government Recognized Manufacturer and Export House. They are also
Importer, Stockist and Supplier of high quality Stainless Steel Products in
India. They are authorized distributors of M/s MUKAND LIMITED. They
are supplying our products to government, semi- government, private and multi-national
companies. Their present group turnover is over
USD 28 Million.
GROUP PROFILE
Way back in 1970, Bhansali Group started their
business in Stainless Steel under the name and style of M/s. Bhansali Metal
Corporation. Over the years the business has grown up in Indian Market and the
company turnover had reached to 250 million per annum.
Thereafter
in 1976, Bhansali Group diversified into exports of Readymade Garments in the
name of M/s. United Impex India. Mostly items are exported to Japan, USA,
Europe and Far East Asian countries.
In
the year 1981, Bhansali Engineering Polymers Limited was set up for
manufacturing of ABS Polymers. Initial production commenced in January 1980. In
the year 1999, Bhansali Engineering Polymers Limited diversified and set up a
new division for manufacturing of SAN Polymers and new plant setup in Abu-Road
in 2004. As on date the combined production per annum of all the three division
is 48,000 M/T and expected to increase the production to 2,00,000 MT by 2007.
Thereafter,
in the year 1992 Stainless Steel Bright Bars manufacturing plant was set up in
the name of M/s. Bhansali Bright Bars Private Limited with a production
capacity of 500 M/T per month to meet the growing needs of Export and Domestic
markets. Over the period Bhansali Bright Bars have grown into one of the
leading exporters of Stainless Steel Bright Bars, squares and hexagons.
Bhansali Bright Bars Private Limited is also well accepted in the International
market for Stainless steel wires, stainless flanges and carbon steel flanges.
Their products are sold to all over the world including USA, Europe, Singapore,
Australia, Malaysia, Vietnam, Sri-Lanka, Syria, Turkey, Iran, UAE and other
Gulf countries.
In
the year 2002-2003 they have modernised their plant for SS Flanges at Baroda in
the name of Sanghvi Forgings and Engineering Limited to produce highest quality
of products.
During
March 2000 they were awarded with the highest Exporter Award for their
category. As feathers in the cap during the year 2002-2003, Bhansali Bright
Bars Private Limited was accredited with ISO 9001:2000 by TUV.
AWARDS
|
EEPC |
1996-1997 |
Mr.K.S Chadaha |
Mumbai |
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EEPC |
1997-1998 |
- |
Mumbai |
|
FIEO |
2000-2001 |
Mr.Omar Abdullah |
New Delhi |
|
EEPC |
2002-2003 |
Mr.Kamal Nath |
Kolkata |
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 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. 49.71 |
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|
1 |
Rs. 78.08 |
|
Euro |
1 |
Rs. 68.05 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.