|
Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
CARL BECHEM LUBRICANTS (INDIA) PRIVATE LIMITED (w.e.f. 16.06.2004) |
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Formally Known
As : |
BANGALORE SPECIALITY LUBRICANTS PRIVATE LIMITED |
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Registered
Office : |
No. 28 –D, Bidadi Industrial Area, Bidadi – Harohalli road, Bangalore
– 562109, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.12.2003 |
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Com. Reg. No.: |
08-032976 |
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Capital
Investment/ Paid-up Capital: |
Rs.11.345 Millions |
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CIN No.: [Company Identification
No.] |
U23201KA2003PTC032976 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB04099E |
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PAN No.: [Permanent Account No.] |
AACCB3015F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Developing, Producing and Selling High Performance Lubricants like
Industrial Lubricants, Lubricants for Metal Working etc and Additives. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 572000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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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
|
Registered Office : |
No. 28 –D, Bidadi Industrial Area, Bidadi – Harohalli road, Bangalore
– 562109, Karnataka,India |
|
Tel. No.: |
91-80-22010800 / 22010801 / 22010802 |
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Fax No.: |
91-80-22010803 |
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E-Mail : |
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Website : |
DIRECTORS
(As on 30.09.2011)
|
Name : |
Mr. Natarajan Krishnamoorthy |
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Designation : |
Director |
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Address : |
No.370, 16th Main Road, 4th T Block, Jayanagar,
Bangalore – 560041, Karnataka, India |
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Date of Birth/Age : |
20.01.1949 |
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Date of Appointment : |
04.12.2003 |
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DIN No : |
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Other Directorship:
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Name : |
Mr. Hans Otto Franz |
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Designation : |
Director |
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Address : |
Gertubger Strasse,79, Unna, 59423, Germany – 59423. |
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Date of Appointment : |
16.02.2004 |
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DIN No : |
01490730 |
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Name : |
Mr. Walter Heinrich Martin |
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Designation : |
Director |
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Address : |
Goethestrasse 25, Herdecke,58313, Germany – 58313, Germany |
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Date of Birth/Age : |
16.08.1964 |
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Date of Appointment : |
23.02.2011 |
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DIN No : |
03345242 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
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Schleifenbaum Schmte Rungstechnik Verwalt, Germany |
|
40000 |
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Carl Bechem GMBH, Germany |
|
1094503 |
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Total |
|
1134503 |
(AS ON 30.09.2011)
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Category |
|
Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Developing, Producing and Selling High Performance Lubricants like
Industrial Lubricants, Lubricants for Metal Working etc and Additives. |
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Products : |
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PRODUCTION STATUS
(As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
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|
Tonnes |
3450 |
3450 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Deutsche Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ramchandra Bhat Chartered Accountant |
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Address : |
Arya Plaza, 3/5, II Floor, Bull Temple Road, Chamarajpet West,
Bangalore – 560018, Karnataka, India |
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Qualification : |
Bcom., L.L.B., F.C.A. |
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PAN No.: |
AAOPB3441J |
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Tel No: |
91-80-22424932 / 32516578 |
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Mobile No.: |
91-9341224764 |
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E-Mail : |
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Major Markets : |
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Holding Company : |
Carl Bechem GMBH |
CAPITAL STRUCTURE
(As on 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Share |
Rs.10/- each |
Rs.50.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,134,503 |
Equity Share |
Rs.10/- each |
Rs.11.345
Millions |
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|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.032011 |
31.03.2010 |
31.032009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
11.345 |
9.500 |
9.500 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
131.751 |
67.687 |
57.846 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
143.096 |
77.187 |
67.346 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
67.509 |
84.177 |
63.684 |
|
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TOTAL BORROWING |
67.509 |
84.177 |
63.684 |
|
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DEFERRED TAX LIABILITIES |
1.370 |
0.704 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
211.975 |
162.068 |
131.030 |
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APPLICATION OF FUNDS |
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|
|
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|
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|
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FIXED ASSETS [Net Block] |
127.546 |
126.044 |
27.726 |
|
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Capital work-in-progress |
30.752 |
0.273 |
91.332 |
|
|
|
|
|
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|
INVESTMENT |
1.334 |
1.334 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
88.269
|
75.609 |
57.350 |
|
|
Sundry Debtors |
52.565
|
41.055 |
40.528 |
|
|
Cash & Bank Balances |
3.162
|
7.350 |
5.550 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
32.756
|
29.797
|
20.793 |
|
Total
Current Assets |
176.752
|
153.811 |
124.221 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
88.720
|
100.799 |
86.724 |
|
|
Other Current Liabilities |
16.114
|
12.531 |
11.435 |
|
|
Provisions |
19.575
|
6.064 |
14.372 |
|
Total
Current Liabilities |
124.409
|
119.394 |
112.531 |
|
|
Net Current Assets |
52.343
|
34.417 |
11.690 |
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.282 |
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|
|
|
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TOTAL |
211.975 |
162.068 |
131.030 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
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TOTAL INCOME |
650.130 |
474.030 |
340.460 |
|
|
|
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|
|
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|
Less |
|
EXPENDITURE |
594.940 |
459.460 |
327.760 |
|
|
|
|
|
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|
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|
PROFIT BEFORE
TAX |
55.190 |
14.570 |
12.700 |
|
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|
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|
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|
Less |
TAX |
18.500 |
4.730 |
4.960 |
|
|
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|
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PROFIT AFTER TAX
|
36.690 |
9.840 |
7.730 |
|
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|
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|
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|
|
EARNINGS IN
FOREIGN CURRENCY |
27.647 |
11.056 |
NA |
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
300.226 |
225.845 |
NA |
|
|
|
Packing Materials |
0.039 |
0.000 |
NA |
|
|
|
Traded Goods |
3.656 |
3.294 |
NA |
|
|
TOTAL IMPORTS |
303.921 |
229.139 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.51 |
10.36 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.032009 |
|
PAT / Total Income |
(%) |
5.64
|
2.08 |
2.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.14
|
5.21 |
8.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.19 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.34
|
2.64 |
2.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.29 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Note:
The registered office of the company has been
shifted from #370, 16th Main Road, 4th Block, Jayanagar,
Bangalore - 500044, Karnataka, India to the present address w.e.f. 01.01.2009
Future Prospects:
Based on the results for the period, The
Directors are confident of achieving better results in the forthcoming years.
CONTINGENT LIABILITIES:
FIXED
ASSETS:
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.54.92 |
|
|
1 |
Rs.85.47 |
|
Euro |
1 |
Rs.67.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.