MIRA
INFORM REPORT
|
Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
BEML LIMITED (w.e.f 30.11.2007) |
|
|
|
|
Formerly Known
As : |
BHARAT EARTH MOVERS LIMITED |
|
|
|
|
Registered Office
: |
"BEML Soudha", 23/1, 4th |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.05.1964 |
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|
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Com. Reg. No.: |
08-001530 |
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Paid-up Capital
: |
Rs.417.722 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L35202KA1964GOI001530 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPB01658G |
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|
|
PAN No.: [Permanent Account No.] |
AAACB8433D |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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|
Line of Business
: |
Manufacturer, Exporter and Importer of Earthmoving and
Other Heavy Industrial Equipments |
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|
|
|
No. of Employees
: |
11798 (approximately) [as on 31.03.2011] |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (74) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 85561628 |
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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 and reputed company having fine track.
It is a Government of India Company. The company’s general financial position
is good. Trade relations are reported as fair. Business is active. Lenders
and creditors can feel confident of Government of India’s exposure to the
company. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered/ Corporate Office : |
"BEML Soudha", 23/1, 4th |
|
Tel. No.: |
91-80-22963240/ 22963250 (13 lines) |
|
Fax No.: |
91-80- 22963278/ 516/ 280/ 164 |
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E-Mail : |
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|
Website : |
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|
Area : |
10000 sq. ft |
|
Location : |
Owned |
|
|
|
|
Division
Office: |
Marketing Division 5th Floor, Ph: 91 80 22963501 Fax: 91 80
22963539 Email: mmoffice@sales.beml.co.in International Business Division BEML SOUDHA, 23/1,
4th Main, SR Nagar, Bangalore-560027, Fax: 91 80
22224874 Email: bemlexp@vsnl.com,
office@export.beml.co.in,bemlexp@vsnl.net Technology Division BEML SOUDHA, 23/1,
4th Fax: 91 80
22963101 Email: office@ctd.beml.co.in
Trading Division 4th Floor, Ph: 91 80 22963522 Fax: 91 80
22963523 Email: office@trading.beml.co.in Aerospace Manufacturing
Division BEML Limited, Defence Business BEML Limited, |
|
|
|
|
Steel Foundry : |
Vignyan Industries
Limited, PB No.4, Ph: 91 8261
222236, 222252, 222357 Fax: 91 8261
222236 Email:
vittke@sancharnet.in |
|
|
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Regional Offices : |
Located at :-
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District Offices : |
Located at :-
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Plant Locations : |
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Overseas Offices: |
China
Brazil
|
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. V. RS. Natarajan |
|
Designation : |
Chairman and
Managing Director |
|
Address : |
BEML Soudha, 23/1, 4th Main, S.R. Nagar, Bangalore-560
027, |
|
|
|
|
Name : |
Mr. P. Dwarakanath |
|
Designation : |
Director (Metro and Rail Buisness) |
|
|
|
|
Name : |
Mr. M. Pitchiah |
|
Designation : |
Director (Finance) |
|
Address : |
BEML Soudha, 23/1, 4th Main, S.R. Nagar, Bangalore-560
027, |
|
|
|
|
Name : |
Dr. M. Nellaiappan |
|
Designation : |
Director (Human Resource) |
|
Address : |
BEML Soudha, 23/1, 4th Main, S.R. Nagar, Bangalore-560
027, |
|
|
|
|
Name : |
Mr. C. N. Durgesh |
|
Designation : |
Director (Mining and Construction Business) |
|
Address : |
KGF Complex, BEML Nagar, Kolar Gold Fields-563 115, |
|
|
|
|
Name : |
Mr. P. R. Naik |
|
Designation : |
Director (Defence Business) |
|
Address : |
5th Floor, |
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|
|
|
Name : |
Ms. Rashmi Verma |
|
Designation : |
Government Director |
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|
Name : |
Dr. S C Pandey |
|
Designation : |
Government Director |
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|
Name : |
Mr. M B N Rao |
|
Designation : |
Independent Director |
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|
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|
Name : |
Mr. J P Batra |
|
Designation : |
Independent Director |
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|
|
|
Name : |
Mr. J. P. Singh |
|
Designation : |
Independent Directors |
|
|
|
|
Name : |
Dr. (Ms.) Rekha Bhargava |
|
Designation : |
Independent Directors |
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|
|
|
Name : |
Lt. Gen. (Retd.) Noble Thamburaj |
|
Designation : |
Independent Directors |
|
|
|
|
Name : |
Mr. Kanwal Nath |
|
Designation : |
Independent Directors |
|
|
|
|
Name : |
Mr. Ramesh Bhat |
|
Designation : |
Independent Directors |
|
|
|
|
Name : |
Prof. S. Sadagopan |
|
Designation : |
Independent Directors |
|
Name |
Designation/Address |
|
Corporate Office |
BEML Soudha, SR Nagar, |
|
CVO |
Chief Vigilance Officer |
|
Ganesh Natarajan |
Executive Director (HR) |
|
Reddy BRS |
CGM (IR and Legal) |
|
Chamola VM |
CGM (HR) |
|
Pradeep Swaminathan |
CGM (Finance) |
|
Narasimha Rao P |
CGM (Audit) |
|
Ashok Kumar |
GM (Finance) |
|
Venkatesan S |
GM (Finance) |
|
Venkataraman S |
GM (Finance) |
|
Suresh S. Vastrad |
GM (Planning) |
|
Nanda A K |
GM (HR) |
|
Gurunatha Naik H R |
GM (Quality) |
|
Sridhar BS |
Asst General Manager (PR) |
|
MEV Selvamm |
Company Secretary |
|
Balasubramanian N |
Chief Information Officer |
|
International Business |
BEML Soudha, SR Nagar, |
|
Manish Singhal |
Executive Director (Exports) |
|
Technology Division |
BEML Soudha, SR Nagar, |
|
Joe Pulickel |
GM (Defence) |
|
Defence Business |
5th Floor, |
|
Umesh Chandra |
Executive Director (Defence) |
|
|
CGM (Defence and Aerospace) |
|
|
GM (Defence - Marketing) |
|
Marketing Division |
5th Floor, |
|
Naik P R |
Executive Director (Marketing) |
|
|
CGM (Chief of Parts) |
|
Lokhande SS |
Off. CGM (Chief of Sales and Marketing) |
|
Azra Banu A |
GM (Finance) |
|
Huddar SB |
GM (Parts) |
|
Narayana Bhat K |
GM (Rental and Re-Mfg) |
|
|
GM (finance) |
|
Trading Division |
5th Floor, |
|
Varma TKS |
GM (Trading) |
|
|
New Thippasandra, |
|
Prakash HS |
CGM (Rail and Metro) |
|
|
GM (Metro) |
|
Manjunath BL |
GM (Production) |
|
Sastry NVS |
GM (Production) |
|
Karuppa Swamy K |
GM (Finance) |
|
Prasanna Kumar TS |
GM (Marketing) |
|
Amit Banerjee |
GM (Technology Division) |
|
Hasainabba U K |
GM (HR) |
|
Ravi |
GM (Materials) |
|
Srinivasulu Reddy S |
Off. GM (Defence Production) |
|
KGF Complex |
BEML Nagar, Kolar Gold Fields - 563 115 |
|
Prasad S |
CGM (H and P) |
|
Dr Chandrasekaran |
CGM (Production) |
|
|
GM (M and C), R and D |
|
Nagaraja Kumar PV |
GM (Production) |
|
Nageswara Rao C |
GM (RCU-II) |
|
Ravishankar N |
GM (Production) |
|
Ashokan D |
GM (Production) |
|
Manjunath HR |
GM (Production) |
|
Chappidi RR |
GM (Hydraulics) |
|
Shiva Kumar P |
GM (H and P) |
|
RamanathaHR |
GM (Fabrication) |
|
Ravichandar G |
GM (Materials) |
|
|
GM (Defence) |
|
Deshmanya MD |
GM (Security / Vigilance) |
|
Muralidhar RH |
GM (Planning) |
|
Vinod Kumar Pareek |
GM (Production) |
|
Radhakrishna KR |
GM (Technology Division) |
|
Piramanayagam S |
GM (Finance) |
|
|
Belavadi Post, |
|
Reddy |
Executive Director (Truck Divn.) |
|
Mulla MA |
CGM (Production) |
|
Venkataramana Rao K |
CGM (Special Duty) |
|
Namperumal L |
Off. CGM (Engine Division) |
|
Dr. Debnath KK |
GM (Co-Ordination) |
|
Ramanaiah KV |
GM (Finance) |
|
Srikanta MR |
GM (Manufacturing) |
|
Ravindra Rao K |
GM (Engine) |
|
Suresh Nambiar |
GM (Defence Production) |
|
Shankar B |
GM (Light Assembly) |
|
Palakkad Complex |
Kinfra Wisepark, |
|
Panneer Selvam R |
Off. CGM (Head) |
|
Mohanan K P |
GM (Planning) |
|
Sathisha |
GM (Project) |
|
Kumaresan S |
GM (Finance) |
|
|
C-6, |
|
Vishwanatha B R |
CGM (Service) |
|
Steel Foundry |
Vignyan Industries Limited, PB No.4, BH Road, Tarikere - 577 228 |
|
|
DGM (Foundry) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2011
|
Category |
No
of Shares |
%
of Shares |
|
|
|
|
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
22,500,000 |
54.03 |
|
|
22,500,000 |
54.03 |
|
|
|
|
|
|
-- |
-- |
|
Total
shareholding of Promoter and Promoter Group (A) |
22,500,000 |
54.03 |
|
|
|
|
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
5,465,457 |
13.12 |
|
|
5,852,596 |
14.05 |
|
|
3,427,822 |
8.23 |
|
|
14,745,875 |
35.41 |
|
|
|
|
|
|
|
|
|
|
1,119,567 |
2.69 |
|
|
|
|
|
|
|
|
|
|
2,822,119 |
6.78 |
|
|
109,123 |
0.26 |
|
|
|
|
|
|
347,816 |
0.84 |
|
|
261,021 |
0.63 |
|
|
5,371 |
0.01 |
|
|
81,424 |
0.20 |
|
|
4,398,625 |
10.56 |
|
|
|
|
|
Total
Public shareholding (B) |
19,144,500 |
45.97 |
|
|
|
|
|
Total
(A)+(B) |
41,644,500 |
100.00 |
|
|
|
|
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
|
|
|
Total
(A)+(B)+(C) |
41,644,500 |
100.00 |
(1)
Indian
Central
Government / State Government(s)
Individual
shareholders holding nominal share capital up to Rs.0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Earthmoving and
Other Heavy Industrial Equipments |
||||||||||
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|
||||||||||
|
Products : |
Railway Products : ·
Railway
Coaches ·
ACEMU
Defence Equipment : ·
Defence
Support Vehicles ·
Mine
Plough ·
Mill
Rail EM Equipment ·
Dozers
·
Dumpers
·
Walking
Dragline ·
Excavators
·
Loaders
·
Rope
Shovel |
||||||||||
|
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|
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|
Exports : |
|
||||||||||
|
Products : |
· Frame External Keyboard · Plate Clamp Actuator · Clampring |
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|
Countries : |
·
·
·
·
·
·
·
·
·
Sultanate ·
·
·
·
UAE ·
·
·
|
||||||||||
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|
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Imports : |
|
||||||||||
|
Products : |
· Hydrogen Chloride · Hydraulic Oil |
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|
Countries : |
·
Japan ·
USA ·
New york ·
·
|
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Terms : |
|
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Selling : |
L/C, Cash, Credit: 30/60/90 Days |
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Purchasing : |
L/C, Cash, Credit: 30/60/90 Days |
GENERAL INFORMATION
|
Customers : |
·
Retailers ·
End Users and OEM’s ·
Coal India Limited · Singareni Collieries Company Limited ·
Railway Board and Defence Services |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
11798 (approximately) [as on 31.03.2011] |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of · Canara Bank ·
State Bank of · Punjab National Bank · State Bank of Saurashtra ·
State Bank of ·
Bank of ·
State Bank of ·
Central Bank of ·
Bank of ·
Union Bank of |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rao and Swami Chartered Accountants |
|
Address : |
|
|
|
|
|
Collaboration
: |
·
·
Dresser, ·
Voest Alpine, ·
IGM |
|
|
|
|
Memberships: |
·
Confederation of Indian Industry |
|
|
|
|
Associates/Subsidiaries : |
· Vignyan Industries Limited, Associates/Subsidiaries : Haliyur Village (Outskirts of Tarikere), B. H. Road,
Tarikere - 577 228 Tel No. 91-8261-22236 / 22252 / 22314 Fax No. 91-8261-22357 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,00,00,000 |
Equity shares |
Rs.10/- each |
Rs.1000.000 millions |
|
|
|
|
|
Issued Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,19,00,000 |
Equity shares |
Rs.10/- each |
Rs.419.000 millions |
|
|
|
|
|
Subscribed &
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,16,44,500 |
Equity shares |
Rs.10/- each |
Rs. 416.445 millions |
|
Add : |
Forfeited Shares |
|
Rs.1.277 millions |
|
|
|
|
|
|
|
Total |
|
Rs.417.722 millions |
NOTE:
60,63,000 Equity Shares of total value of Rs. 60.630
Millions have been allotted as fully paid up pursuant to a contract without
payment being received in cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
417.722 |
417.722 |
417.722 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
20972.685 |
19960.670 |
18736.041 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
21390.407 |
20378.392 |
19153.763 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6762.171 |
7530.549 |
4709.088 |
|
|
2] Unsecured Loans |
1409.044 |
1554.986 |
967.308 |
|
|
TOTAL BORROWING |
8171.215 |
9085.535 |
5676.396 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.400 |
|
|
|
|
|
|
|
|
TOTAL |
29561.622 |
29463.927 |
24830.559 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3895.279 |
2738.704 |
2554.866 |
|
|
Capital work-in-progress |
795.817 |
322.104 |
236.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
81.989 |
81.989 |
79.489 |
|
|
DEFERREX TAX ASSETS |
460.388 |
341.975 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18889.091
|
16530.030
|
16205.787 |
|
|
Sundry Debtors |
12875.304
|
13607.375
|
15452.667 |
|
|
Cash & Bank Balances |
482.818
|
5671.506
|
2635.100 |
|
|
Other Current Assets |
58.000
|
73.483
|
150.176 |
|
|
Loans & Advances |
5094.302
|
4613.455
|
4127.588 |
|
Total
Current Assets |
37399.515
|
40495.849
|
38571.318 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Others Current Liabilities |
9879.920
|
8922.417
|
11332.633 |
|
|
Provisions |
3191.446
|
5608.820
|
5361.548 |
|
Total
Current Liabilities |
13071.366
|
14531.237
|
16694.181 |
|
|
Net Current Assets |
24328.149
|
25964.612
|
21877.137 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
14.543 |
82.967 |
|
|
|
|
|
|
|
|
TOTAL |
29561.622 |
29463.927 |
24830.559 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
26303.722 |
28382.395 |
27971.710 |
|
|
|
Other Income |
2228.392 |
1374.136 |
1099.733 |
|
|
|
TOTAL (A) |
28532.114 |
29756.531 |
29071.443 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Materials & Spares Consumed/Sold |
16558.831 |
18008.431 |
18508.939 |
|
|
|
Employees Remuneration & benefits |
6831.453 |
5551.398 |
5691.893 |
|
|
|
Other Expenses |
3556.934 |
3698.890 |
3185.236 |
|
|
|
Prior Period Adjustment |
245.436 |
0.679 |
8.007 |
|
|
|
Increase/ (Decrease) in Stock |
(1450.780) |
(1509.874) |
(2807.211) |
|
|
|
TOTAL (B) |
25741.874 |
25749.524 |
24586.864 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2790.240 |
4007.007 |
4484.579 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
586.339 |
489.292 |
336.818 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2203.901 |
3517.715 |
4147.761 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
336.384 |
322.236 |
273.088 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1867.517 |
3195.479 |
3874.673 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
369.890 |
966.997 |
1186.249 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1497.627 |
2228.482 |
2688.424 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2496.381 |
977.967 |
624.207 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
416.445 |
416.445 |
499.734 |
|
|
|
Tax On Dividend |
69.166 |
70.775 |
84.930 |
|
|
|
Transfer to General Reserve |
149.762 |
222.848 |
1750.000 |
|
|
BALANCE CARRIED
TO THE B/S |
3358.635 |
2496.381 |
977.967 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
35.96 |
53.51 |
64.56 |
|
QUARTERLY RESULTS
(UNAUDITED)
|
PARTICULARS |
30.06.2011 (Rs. In
Millions) |
30.09.2011 (Rs. In
Millions) |
31.12.2011 (Rs. In
Millions) |
|
|
1st
Quarter |
2nd Quarter |
3rd
Quarter |
|
Net Sales |
5539.100 |
7924.700 |
5745.000 |
|
Total Expenditure |
5323.000 |
7595.700 |
5099.200 |
|
PBIDT (Excl OI) |
216.100 |
329.000 |
645.800 |
|
Other Income |
151.900 |
169.500 |
152.200 |
|
Operating Profit |
368.000 |
498.500 |
798.000 |
|
Interest |
153.900 |
231.500 |
228.700 |
|
Exceptional Items |
97.900 |
34.500 |
2.400 |
|
PBDT |
312.000 |
301.500 |
571.700 |
|
Depreciation |
98.100 |
104.800 |
101.800 |
|
Profit Before Tax |
213.900 |
196.700 |
469.900 |
|
Tax |
55.200 |
43.700 |
69.200 |
|
Provisions and Contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
158.700 |
153.000 |
400.700 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustment |
0.000 |
0.000 |
0.000 |
|
Net Profit |
158.700 |
153.000 |
400.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.24
|
7.48 |
9.25
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.09
|
11.25 |
13.85
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.52
|
7.39 |
9.42
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.15 |
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.99
|
1.15 |
1.17
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
2.78 |
2.31
|
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
Subject (formerly Bharat Earth Movers Limited), a Mini-Ratna
Status, the largest and most profitable construction equipment company was
established in May of the year 1964 for manufacture of Rail Coaches and Spare
Parts and Mining Equipment at its Bangalore Complex. Company has eight
manufacturing units spread over four locations. The main manufacturing
facilities are located at Kolar Gold Fields,
Established the heavy earthmoving equipment division at Kolar Gold Fields in
the year 1968. The collaboration agreement was made with Komatsu Limited,
During the year 1998, the company bagged orders against World Bank tenders
valued at Rs.7000.000 Millions for equipment supply to CIL projects. Integrated
hi-tech applications program implemented in divisions during the year 1999
covering manufacturing, operations and communications. During 1999-2000, the
company had entered into strategic alliances with multinational companies like
M/s Steelfields, UK, Kawasaki, Japan, Europactor, Spain, Crossmobil, Germany and
Hartl Crushtek, UK, which for improve and growth the opportunities. In
2000-2001, BEML tied up with Technology Information Forecasting and Assessment
Council (TIFAC) for manufacturing specialised equipment to be used in disaster
management and is planning to productions them for deployment in hazardous
situations. The Company awarded the Best Exporter award by the Department of
Industry and Commerce, GoK in the year 2001 and also in 2002. Company had
entered into the metro Railway business during the year 2003 with the
manufacture and supply of hi-tech stainless steel metro coaches to the Delhi
Metro Rail Corporation.
The company has opened a new Railway Fabrication Unit at Kolar Gold Field
Complex in the year 2004. In the same year 2004, 7 T Class Excavator - BE71 and
Backhoe loader - BL 9H were formally launched and also the four cylinder
indigenous engine B4D105 had introduced as an earth moving equipment. During
the year 2005, the company's Railway Fabrication Unit was inaugurated at KGF.
The Company had received an award for Outstanding Export Performance' from
Engineering Export Promotion Council (EEPC) during February of the year 2005.
In 2006, it has launched company-wide 'Six Sigma' movement and is currently
spearheading the 'Second Wave' of Six Sigma initiatives. BEML had conferred the
Mini-Ratna (Category 1) status in 29th August of the year 2006 by the ministry
of Defence. The status has been given recognizing position in the industry,
consistent performance, growing profitability and rapid absorption of changing
technologies.
BEML Midwest Limited, a Joint Venture Company was incorporated in April 2007 at
As on March 2008, the Memorandum of Understanding (MoU) was made with National
Aluminum Company (NALCO) to collaborate for the production of aluminum wagons
for movement of ore for NALCO. During May of the year 2008, the company has
signed a long-term agreement for 12 years with Coal India Limited for joint
production of 'Off the Road' (OTR) tyres to meet the requirement for production
by company and after Sale Requirement by Coal India Limited. Company had
entered into a MoU with Steel Authority of India Limited (SAIL) for Supply of
Heavy Earth Moving Equipment and Maintenance Contract during the same month,
May of the year 2008. As at July 2008, BMEL has bagged export orders for supply
of 93 equipments valued Rs.1580.000 Millions consisting of Hydraulic
Excavators, Rear Dump Trucks and Bull Dozers from Pt. Fajar Bumi Sakti,
Subject is running to become a market leader, as a diversified company,
supplying products and services Mining and Construction, Rail and Metro and
Defence sectors and globalize its presence. Also improve competitiveness through
organizational transformation and collaboration/ strategic alliances/ joint
ventures in technology, attract and build people in a rewarding and inspiring
environment by fostering creativity and innovation.
TURNOVER AND
PROFITABILITY
The Company attained an all time high turnover of*Rs.36235.200, millions, an increase of Rs.658.500 millions registering a growth of 1.85% over the previous year. The value of production was Rs.37686.000 millions recording an increase of about 1.62% over the previous year. Despite the increase in sales volume, the Profit Before Tax was Rs. 1867.500 millions as against Rs.3195.500 millions recorded in the previous financial year. The reduction in profit was mainly on account of implementation of wage revision for employees, change in product mix propelled by the market demand, lesser quantum of sales of spares coupled with severe competition that had exerted pressure on margins. However, Company has initiated steps to maximize the profits.
FINANCE
The working capital requirements were met from the internal resources and credit facilities availed from banks. There was no overdue installment of principle and interest.
The Company''s contribution to exchequer was in the order of Rs. 6579.200 millions during the year by way of Excise Duty, Customs Duty, Sales Tax, Income Tax, Wealth Tax, Service Tax and Cess.
SUBSIDIARY COMPANY
M/s Vignyah Industries Limited (VIL) achieved a turnover of Rs.338.200 millions and value of production of Rs.356.800 millions during the year. It incurred a loss of Rs. 16.000 millions, mainly due to the delay in stabilization of the expansion process for shifting from traditional C02 to no-bake system and non-availability of quality sand due to heavy and unprecedented rainfall.
The statement and particulars relating to VIL, pursuant to Section 212 of the Companies Act, 1956 is attached.
In accordance with Section 212(8) of the Companies Act, 1956, the Company has been exempted from attaching the Balance Sheet, Profit & Loss Account, Auditors'' Report, Directors'' Report, etc., of the subsidiary Company to the Balance Sheet of BEML Limited as per Government of India order No.51/12/2007-CL-III, dated 08.02.2011 issued under General Circular No.2/2011. However, the Company will make available these documents upon request by any member of the Company.
JOINT VENTURE COMPANY
A JV Company, M/s BEML Midwest Limited incorporated on 18th April, 2007 at Hyderabad with BEML having 45% share, M/s Midwest Granite Pvt. Ltd., and P T Sumber Mitra Jaya of Indonesia as partners with 55% share. The Company has been established to capitalize the growing business opportunities in the mining segment. However, due to certain unauthorized transactions and the oppression and mismanagement by the nominees of Midwest Granite Pvt. Limited, BEML has filed a petition u/s 397 and 398 of the Companies Act, 1956 seeking suitable relief, and the matter is pending before the Hon''ble Company Law Board.
AWARDS
-
Public Relations Council of India (PRCI), a premier body of the Public
Relations and Communication Professionals has bestowed the prestigious
''Chanakya Award1 on CMD, Shri V RS Natarajan, on 03.04.2010, for having
steered the Company to unprecedented levels of success both in business
operations as well as territorial expansions.
-
The Second Dalai Street Investment Journal (DSIJ) PSU Award-2010 held at
New Delhi on 6''April 2010, BEML has been bestowed with Wealth
Builder-Miniratna-Manufacturing Award under percentage surge in Market Cap
category.
- The Heavy Fabrication Unit (HFU) of BEML at
KGF Complex has been adjudged as ''Winner'' in the National Safety Awards
(performance year 2008) under Scheme-V (Lowest Average Frequency Rate) and
Scheme-VI (Accident Free Year) and received the award on 27.10.2010 from
Ministry of Labour & Employment, Government of India.
-
BEML has won the prestigious Raksha Mantri''s Institutional Award for
Excellence in Performance (FY 2008-09) and Group award for Design Efforts for
design and development of Intermediate Cars for Delhi Metro RS4 Project, on
10.11.2010.
-
BEML was conferred with the prestigious SCOPE Award - Medium PSE
Category for the year 2008-09 on 15.12.2010 by Ministry of Heavy Industries
& Public Enterprises for Excellence and Outstanding Contribution to Public
Sector Management.
-
BEML was bestowed with EEPC INDIA Award for outstanding contribution to
engineering exports (FY 2008-09) by Engineering Export Promotion Council on
22.12.2010.
-
BEML was bestowed with the Aerospace & Defence Award* under the
category ''Excellence in Technology Awards'' for the snow cutter. This was
instituted by SAP Media Publications, an internationally renowned business
magazine in the field of Aerospace on 08.02.2011.
-
BEML had received the Public Relations Council of India Award for Best
Wall Calendars*'' at the Global PR Conclave-2011 on 17-18* March, 2011 at
Chandigarh.
-
BEML was bestowed with two awards, one is ''Game changes for
diversification'' and the other R&D and enhanced global presence1 instituted
by Dalai Street Investment Journal in its ''India''s best Public Sector
Enteprises- 201 l''on21.04.20HatNew Delhi.
-
As per the survey, commissioned by the Economic Times, Corporate Dossier
magazine and conducted by IMRB International, Shri V RS Natarajan, Chairman and
Managing Director of the Company, has been ranked at 771 position in the list
of''India INC''s most powerful CEOs-2011'', published in the Economic Times on
29.04.2011.
UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER/NINE MONTHS ENDED
DECEMBER 31, 2011
Rs. In millions
|
Particular |
3 Months Ended 30.06.2011 (Un-audited) |
3 Months Ended 30.09.2011 (Un-audited) |
3 Months Ended 31.12.2011 (Un-audited) |
|
|
|
|
|
|
Sales/Income from
Operations |
7263.600 |
9714.500 |
7888.200 |
|
Less: Value of Consortium Supply |
1383.100 |
1300.000 |
1771.500 |
|
|
5880.500 |
8414.500 |
6116.700 |
|
Less: Excise Duty |
341.400 |
489.800 |
371.700 |
|
Net Sales |
5539.100 |
7924.700 |
5745.000 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
a) (Increase)/ Decrease in stock in trade and work in process |
(76.500) |
(836.200) |
(2137.900) |
|
b) Consumption of raw materials |
3051.800 |
5444.500 |
4383.800 |
|
c) Purchase of traded goods |
78.500 |
0.500 |
20.800 |
|
d) Employees cost |
1516.100 |
1766.500 |
1634.300 |
|
e) Depreciation |
98.100 |
104.800 |
101.800 |
|
f) other expenditure |
753.100 |
1220.400 |
1198.200 |
|
Total |
5421.100 |
7700.500 |
5201.000 |
|
|
|
|
|
|
Profit from operation before interest and exceptional items (1-2) |
118.000 |
224.200 |
544.000 |
|
Other Income |
151.900 |
169.500 |
152.200 |
|
Profit before interest and exceptional items (3+4) |
269.900 |
393.700 |
696.200 |
|
Interest |
153.900 |
231.500 |
228.700 |
|
Profit after interest but before exceptional items (5-6) |
116.000 |
162.200 |
467.500 |
|
Exceptional items |
97.900 |
34.500 |
2.400 |
|
Profit (+) / Loss (-) from ordinary activities before tax (7+8) |
213.900 |
196.700 |
469.900 |
|
Tax expense (including Deferred Tax and Fringe Benefit Tax) |
55.200 |
43.700 |
69.200 |
|
Net Profit (+) / Loss (-) from ordinary activities after tax (9-10) |
158.700 |
153.000 |
400.700 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Net Profit (+) /
Loss (-) for the period (11-12) |
158.700 |
153.000 |
400.700 |
|
Paid up equity share capital (face value of Rs. 10) |
416.400 |
416.400 |
416.400 |
|
|
|
|
|
|
Reserve excluding revaluation reserves as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
Earning per shares
(EPS) a) Basic and diluted EPS before extraordinary items for the period b) Basic and diluted EPS after extraordinary items for the period |
3.81 3.81 |
3.67 3.67 |
9.62 9.62 |
|
|
|
|
|
|
Public shareholding Number of shares Percentage of shareholding |
19144500 45.97% |
19144500 45.97 |
19144500 45.97 |
|
|
|
|
|
|
Promoter and
promoter group shareholding |
|
|
|
|
a) Pledged/
Encumbered Number of shares |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentages of shares (as a % of the total shareholding of promoter and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of the total share capital of the company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non-encumbered |
|
|
|
|
Number of shares |
22500000 |
22500000 |
22500000 |
|
Percentages of shares (as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a % of the total share capital of the company) |
54.03 |
54.03 |
54.03 |
Note:
1. The above results have been reviewed by the audit
committee and approved by the board of directors of their meeting held on 25.01.2012
2. The auditors of the company have carried out
the limited review of the above unaudited financial results.
3. The previous period’s figures have been
regrouped and reclassified wherever necessary to make them comparable with the
current period’s figures.
4. Exemption has been granted by SEBI from
publishing segment-wise information.
5. During the quarter, 19 investor complaints
were received and resolved. There were no complaints pending at the beginning
and end of the quarter.
6. Provision in respect of, contractual
obligations, slow and non-moving inventory are made prorata as assessed for
2010-11.
FIXED ASSETS:
· Land-Freehold
· Land-Leasehold
· Roads and Drains
· Water Supply Installations
· Buildings
· Railways Sidings
· Plant, Machinery and Equipment
· Electrical Installations
· Office, Furniture and Equipment
PRESS RELEASE:
30.06.2011
FELICITATIONS FOR SHRI R K SINGH, SECRETARY
(DEFENCE PRODUCTION)
A farewell-cum-felicitation
function was organized in honour of Shri RK Singh, Secretary (DP) on his
appointment and taking over as Secretary (Home) at
Shri V RS
Natarajan, Chairman and Managing Director, BEML Limited felicitated the
Secretary.
02.08.2011,
BANGALORE
BEML
FORAYS INTO THAILAND FOR EXPORT OF MINING EQUIPMENTS
BEML Limited, a multi technology, multi
product and multi location Indian company has been offering world class quality
products for the diverse sectors of the economy such as Mining, Construction,
Road Building, Aviation, defense, Metro and Railways. BEML has emerged as the
fore runner of heavy engineering Industry with a track record of growth for
over four decades and currently having revenue of US$ 800 million. BEML has
shipped its products to over 55 countries and has operations in Malaysia,
Brazil, Indonesia and China.
Now, as part of its export
strategy, BEML has launched its products in Thailand by appointing Paragon
Machinery Limited as its distributor
for Thailand. With this business association, Paragon Company Limited will market the range of BEML products like Dump trucks,
Excavators, Loaders, Motor Graders, Dozers etc. all over Thailand and
neighbouring Nations like Myanamar, Laos, Cambodia etc.
Sri V RS Natarajan, Chairman and
Managing Director BEML Limited handed over 21 nos. of 100 tonne dump trucks to
EGAT (Electricity Generating Authority of Thailand) a Lignite and power
producing company, at a ceremony organized at Free Zone, Bangkok on 2nd
August 2011 in the presence of Dy. Governor EGAT and His Excellency the
Ambassador of India to Thailand. The 21 nos. of dump trucks entail 10 years
maintenance contract, making the total contract worth of Rs.1200.000 Millions.
EGAT will deploy these trucks in their Lignite mines whose output is used for
captive power generation plant of EGAT.
Mr. Tanakoran Poolthavee, Dy Governor, EGAT (Electricity
Generating Authority of Thailand) receiving the keys of BH100 Dump Truck from
Sri V RS Natarajan, CMD, BEML Limited in the presence of H.E. Mr. Pinak Ranjan
Chakravarty, Indian Ambassador in Thailand.
The dealership award ceremony was held at hotel Sian
Kepenski, Bangkok on the evening of 2nd August 2011. The glittering event was
held in the presence of the Dy. Governor of EGAT, his Excellency, the
Ambassador of India to Thailand, Mr. Perapong, Managing Director of Paragon Machinery
Company Limited and Sri V RS Natarajan, Chairman and Managing Director of BEML
Limited. The dealership launch was attended by many Industrialists, officials
and prospective customers.
BEML
HANDS OVER 7 TRAINS TO BMRCL
BEML Limited handed over the keys of the first seven home
made train rakes to Bangalore Metro on Monday. The first train made by the BEML
is already undergoing static tests at the Byappanahalli metro depot across the
Old Madras road.
“This is for the first time BEML is manufacturing standard
gauge coaches for a metro which is operated on third rail and we are happy to
be part of the global metro network,” said VRS Natarajan, chairman of BEML,
expressing his happiness over the accomplishment.
He also said that the company would be able to deliver the
first order of 150 cars by December 2012. “The cost per 136 cars is 9180.000
millions. We will be handing over rakes of trains as per our completion within
the given time. We have also bagged 10000.000 millions deal from Delhi Metro to
manufacture additional intermediate coaches for them” he added.
Karnataka government has also assisted BEML in matters of
VAT exemption for manufacturing the metro coaches within the state. BEML is
also likely to be chosen for manufacturing coaches for the Jaipur metro,
announced Natarajan. Sri Sivasailam congratulated BEML to have state of art
facilities at their units like Korea from where the first five coaches were
shipped. The first five coaches were made in Korea with the consortium of BEML,
MELCO and Mitshubishi of Japan and Hyundai Rotem of Korea.
The coaches are of similar quality and have same looks as
the ones shipped from Korea. All these cars will be transported through
trailers from BEML manufacturing unit on Thippasandra road across the Old Madras
road to the depot where the BMRCL will take over the task of testing these
rakes. Sri Sivasailam said that these trains will be put to test both on the
tracks until the commercial operations begin. “Once the metro starts we might
have to continue the tests and trails on the tracks with these sets of trains
during the night time for two to three hours,” he said.
The BMRCL is all set to put the first four trains out of
five for commercial operations and one will be kept on stand by at the depot.
“Four trains will operate and one will be standby and can be used just in case
there are breakdowns. And now we also have back up support from the train rakes
supplied by BEML,” added Sivasailam.
These coaches have seating capacity of 136 people per car
and have two driver motor cars at two ends with a intermediate trailor car,
together can ferry 1000 passengers. There are public addressing systems and
display boards of stations and information and surveillance cameras in these
coaches, alike the ones which you see chugging on the tracks.
BEML BAGS Rs.
3180.000 MILLIONS JAIPUR METRO ORDERS
BEML LIMITED, the Public Sector Mini Ratna Company under the Ministry of Defence manufacturing Metro Cars, has bagged the prestigious Jaipur Metro Order valuing to Rs. 3180.000 Millions. By this Order, BEML will manufacture, supply, test and commission 10 train sets of 4-Car each, totaling 40 Cars to Jaipur Metro Project. It is anticipated that another `60 Crore worth Order may be forthcoming for Jaipur Metro.
BEML is the supplier of Metro Cars to Delhi Metro Rail Corporation Ltd., (DMRCL) and Bangalore Metro Rail Corporation Ltd., (BMRCL) and now Jaipur Metro. BEML has also, by virtue of its domain expertise in the manufacture of Metro Cars, has indigenously designed, developed and supplied Intermediate Metro Cars to Delhi Metro to replace the existing 4-Car sets to 6-Car sets and thereby enhance the Passenger-carrying capacity. Besides, BEML is in the process of designing and developing Affordable Metro Cars to suit the upcoming Metro Projects for Tier-II cities.
As its major business verticals, BEML is manufacturing and supplying equipment to Defence & Aerospace, Rail & Metro and Mining & Construction sectors. Besides, BEML is also into the business of e-Engineering, Trading and
Dredging. Having an Order Book of over Rs. 60000.000 Millions, BEML is set to achieve a turnover of Rs.43000.000 Millions for the current Financial Year and to achieve Rs. 50000.000 Millions in 2013-14 to coincide with Company’s Golden Jubilee Year.
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
---------------------- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact
person |
No |
|
11) Turnover of firm for last
three years |
Yes |
|
12) Profitability for last
three years |
Yes |
|
13) Reasons for variation
<> 20% |
No |
|
14) Estimation for coming
financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details
(if applicable) |
Yes |
|
21) Market information |
---------------------- |
|
22) Litigations that the firm
/ promoter involved in |
---------------------- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking
account |
---------------------- |
|
26) Buyer visit details |
---------------------- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if
available |
Yes |
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.51.04 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
74 |
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.