MIRA
INFORM REPORT
|
Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
BILTUBE INDUSTRIES LIMITED (w.e.f. 28.05.2008) |
|
|
|
|
Formerly Known
As : |
BILTUBE CORE BOARDS LIMITED (w.e.f. 31.03.2007) SIDDHARTH CORE BOARDS LIMITED |
|
|
|
|
Registered
Office : |
1102, 11th Floor, |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.03.2004 |
|
|
|
|
Com. Reg. No.: |
25-018983 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 619.417 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21093PN2004PLC018983 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES15070G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS9883K |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Paper Packing Materials. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. There appears
some dip in the profitability of the company. However, 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) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Corporate Headquarters : |
1102, 11th Floor, |
|
Tel. No.: |
91-20-25662010 |
|
Fax No.: |
91-20-25660763 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Kodoli - Gate No. 1172 to 1178, Kodoli,
Taluka - Panhala, District : |
|
|
|
|
Factory 2 : |
Warana Warananagar, Taluka - Panhala,
District - |
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|
|
|
Factory 3 : |
Patalganga A- 10, MIDC Patalganga, Near
Castrol, District - Raigadh – 410220, |
|
|
|
|
Factory 4 : |
Located at:
|
|
|
|
|
Branch 1 : |
L-57, M.I.D.C. Kupwad, Sangli - 416436, |
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|
|
|
Branch 2: |
Gate No. 520/ B, Shelakewadi, Ghotawade, Taluka - Mulshi, District -
Pune – 411011, |
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|
|
|
Overseas Office : |
|
|
Tel. No.: |
+ 62 264 351 315 / 316 |
|
Fax No.: |
+ 62 264 351 317 |
|
|
|
|
Overseas Office : |
Le Crouzet - F – 43140, |
|
Tel. No.: |
+ 33 (0) 6 0895 3669 |
|
Fax No.: |
+ 33 (0) 4 7161 0591 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mrs. Promodini Kiran Bhandari |
|
Designation : |
Whole Time Director |
|
Address : |
605-A/B, Wing C, Mantri Lawas Co-op Housing Society, Anand Park, Aundh,
Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
26.08.1964 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
01176456 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21093PN2004PLC018983 |
BILTUBE
INDUSTRIES LIMITED |
Director |
01-01-12 |
05-03-04 |
Active |
NO |
|
2 |
U21029PN2004PLC019015 |
ANAND PAPER
CONVERSION LIMITED |
Additional
director |
01-10-11 |
15-03-04 |
Active |
NO |
|
3 |
U21019PN2003PLC018305 |
BILTUBE INDIA
LIMITED |
Director |
01-04-05 |
01-04-05 |
Active |
NO |
|
4 |
U24295PN2004PLC019741 |
RENUKA ADHESIVES
LIMITED |
Director |
04-02-06 |
04-02-06 |
Active |
NO |
|
Name : |
Mr. Kiran Harakchand Bhandari |
|
Designation : |
Managing Director |
|
Address : |
605-A/B, Wing C, Mantri Lawas Co-op Housing Society, Anand Park, Aundh,
Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
19.01.1962 |
|
Qualification : |
M. Com, Business Administration |
|
Date of Appointment : |
01.06.2007 |
|
|
00152868 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21019PN2003PLC018305 |
BILTUBE INDIA
LIMITED |
Managing
director |
03-09-03 |
03-09-03 |
Active |
NO |
|
2 |
U21029PN2004PLC019015 |
ANAND PAPER
CONVERSION LIMITED |
Additional
director |
01-10-11 |
15-03-04 |
Active |
NO |
|
3 |
U70102PN2005PLC020342 |
FINESSE
INFRASTRUCTURE LIMITED |
Director |
25-02-05 |
25-02-05 |
Active |
NO |
|
4 |
U24295PN2004PLC019741 |
RENUKA ADHESIVES
LIMITED |
Director |
24-03-05 |
24-03-05 |
Active |
NO |
|
5 |
U21093PN2004PLC018983 |
BILTUBE
INDUSTRIES LIMITED |
Managing
director |
01-04-08 |
24-03-05 |
Active |
NO |
|
6 |
U70200PN2010PTC136587 |
FOURBEE REALTY PRIVATE
LIMITED |
Director |
16-06-10 |
16-06-10 |
Active |
NO |
|
7 |
U21093KA2011PTC061722 |
DPIC BILTUBE
PRIVATE LIMITED |
Director |
19-12-11 |
19-12-11 |
Active |
NO |
|
Name : |
Mrs. Meena Prakash Bhandari |
|
Designation : |
Executive Director |
|
Address : |
404 Wing C, mantri Lawns
Co-op Housing Society, |
|
Date of Birth/Age : |
02.03.1965 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
01176594 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24295PN2004PLC019741 |
RENUKA ADHESIVES
LIMITED |
Director |
24-03-05 |
24-03-05 |
Active |
NO |
|
2 |
U21093PN2004PLC018983 |
BILTUBE
INDUSTRIES LIMITED |
Director |
25-03-09 |
01-04-05 |
Active |
NO |
|
Name : |
Mr. Prakash Harakchand Bhandari |
|
Designation : |
Director |
|
Address : |
404 Wing C, mantri Lawns
Co-op Housing Society, |
|
Date of Birth/Age : |
16.07.1963 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
00153068 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U70102PN2005PLC020342 |
FINESSE
INFRASTRUCTURE LIMITED |
Director |
25-02-05 |
25-02-05 |
Active |
NO |
|
2 |
U21029PN2004PLC019015 |
ANAND PAPER
CONVERSION LIMITED |
Additional
director |
01-10-11 |
30-03-05 |
Active |
NO |
|
3 |
U21093PN2004PLC018983 |
BILTUBE
INDUSTRIES LIMITED |
Managing
director |
01-01-12 |
29-09-07 |
Active |
NO |
|
4 |
U74900PN2008PLC133159 |
RAJARSHI SHAHU
TRADE LINKS LIMITED |
Director |
05-12-08 |
05-12-08 |
Active |
NO |
|
Name : |
Mr. Rajendra Popatlal Bora |
|
Designation : |
Director |
|
Address : |
A/P Karjat District Ahmednagar, Pune – 414 402, |
|
Date of Birth/Age : |
17.01.1968 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01130689 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21019PN2003PLC018305 |
BILTUBE INDIA
LIMITED |
Director |
03-03-06 |
03-03-06 |
Active |
NO |
|
2 |
U70102PN2005PLC020342 |
FINESSE
INFRASTRUCTURE LIMITED |
Director |
04-03-06 |
04-03-06 |
Active |
NO |
|
3 |
U21093PN2004PLC018983 |
BILTUBE
INDUSTRIES LIMITED |
Director |
27-09-08 |
29-09-07 |
Active |
NO |
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
Flat No. B-605, 6th
Floor, Sagar Shrot, Juhu Varsova, New Link Road, Andheri (West),
Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1969 |
|
Date of Appointment : |
09.11.2009 |
|
DIN No.: |
01759409 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74140GJ2004PTC044853 |
GRIN BPO
SERVICES PRIVATE LIMITED |
Director |
04-10-04 |
04-10-04 |
20-03-12 |
Active |
NO |
|
2 |
U34300PN1985PTC035877 |
INDO SCHOTTLE
AUTO PARTS PRIVATE LIMITED |
Nominee director |
28-11-05 |
28-11-05 |
13-08-08 |
Active |
NO |
|
3 |
U24110MH1991PTC063399 |
PHTHALO COLOURS
AND CHEMICALS ( |
Nominee director |
23-07-07 |
23-07-07 |
- |
Active |
NO |
|
4 |
U60100WB2004PTC100396 |
VENKATESH
LOGISTICS PRIVATE LIMITED |
Nominee director |
01-12-08 |
01-12-08 |
- |
Active |
NO |
|
5 |
U21093PN2004PLC018983 |
BILTUBE
INDUSTRIES LIMITED |
Nominee director |
09-11-09 |
09-11-09 |
- |
Active |
NO |
|
6 |
U26941AP2007PLC053611 |
BHAVYA CEMENTS
LIMITED |
Nominee director |
08-12-09 |
08-12-09 |
- |
Active |
NO |
|
7 |
U67190MH2010PTC202800 |
WIP ( |
Director |
31-10-11 |
07-05-10 |
- |
Active |
NO |
|
8 |
U74999MH1955PTC009593 |
S H KELKAR AND
COMPANY PRIVATE LIMITED |
Director |
04-09-10 |
27-08-10 |
- |
Active |
NO |
|
9 |
U27100MH2005PTC153462 |
TEKNO STEELS AND
FORGINGS PRIVATE LIMITED |
Director |
08-06-11 |
08-06-11 |
- |
Active |
NO |
|
10 |
U99999MH1990PLC056461 |
TOPACK FITTINGS
LIMITED |
Director |
08-06-11 |
08-06-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Karan Rajkumar Ramchandani |
|
Designation : |
Company Secretary |
|
Address : |
Plot No.182, Sindhi Colony, |
|
Date of Birth/Age : |
01.04.1987 |
|
Date of Appointment : |
23.07.2010 |
|
PAN No.: |
AOMPR7756L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
Promodini Kiran Bhandari |
|
3910093 |
|
Shashikant Balkrishna Parasnis |
|
1 |
|
Sharmishta Shashikant Parasnis |
|
1 |
|
Kiran Harakchand Bhandari |
|
4181073 |
|
Meena Prakash Bhandari |
|
3910093 |
|
Harakchand Jethmal Bhandari |
|
18 |
|
Prakash Harakchand Bhandari |
|
3910093 |
|
Sharad Bhatewara |
|
560000 |
|
Meshwell Auto Company Private Limited, |
|
44000 |
|
Shobha Dhakad |
|
426283 |
|
Total |
|
16941655 |
|
|
||
|
Names of Shareholders |
|
No. of Shares (Preference) |
|
Wayzala Indian Ocean Limited, |
|
4500000 |
|
Total |
|
4500000 |
As on 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
0.26 |
|
Directors or relatives of directors |
|
93.92 |
|
Other top fifty shareholders |
|
5.82 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Paper Packing Materials. |
||||||
|
|
|
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|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Core Boards |
Qty (MT) |
135000 |
38343.02 |
|
Conversion |
Qty (MT) |
43900 |
12141.15 |
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
200 (Approximately) |
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|
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|
Bankers : |
Indian bank,
Deccan Gymkhana, 759 / 62, |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. D. Karve and Company Chartered Accountants |
|
Address : |
1876, Sadashiv Peth, Natu Baug, Off Bajirao Road, Room No. 1,
Chintamani, Pune – 411030,
Maharashtra, India |
|
Tel. No.: |
91-20-24486769 |
|
Pan No.: |
ABRPK8645D |
|
|
|
|
Associates: |
·
Biltube India Limited, · B. B. Paper Recycling Company |
|
|
|
|
Subsidiary Companies : |
·
PT Biltube ·
Biltube Mauritius Limited, ·
Biltube Europe Limited, |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
Rs. 10/- each |
Rs. 170.000 Millions |
|
4500000 |
10% Cumulative Compulsory Convertible Preference Shares |
Rs. 100/- each |
Rs. 450.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 620.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16941655 |
Equity Shares |
Rs. 10/- each |
Rs. 169.417
Millions |
|
4500000 |
10% Cumulative Compulsory Convertible Preference Shares |
Rs. 100/- each |
Rs. 450.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 619.417 Millions |
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 |
619.417 |
619.416 |
166.040 |
|
|
2] Share Application Money |
0.000 |
0.000 |
147.182 |
|
|
3] Reserves & Surplus |
1066.150 |
938.900 |
740.605 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1685.567 |
1558.316 |
1053.827 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2257.174 |
1699.953 |
1288.182 |
|
|
2] Unsecured Loans |
165.958 |
115.077 |
136.849 |
|
|
TOTAL BORROWING |
2423.132 |
1815.030 |
1425.031 |
|
|
DEFERRED TAX LIABILITIES |
98.174 |
93.156 |
59.072 |
|
|
|
|
|
|
|
|
TOTAL |
4206.873 |
3466.502 |
2537.930 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2780.112 |
1028.076 |
1844.832 |
|
|
Capital work-in-progress |
151.631 |
1273.647 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
575.930 |
575.930 |
172.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
365.433
|
226.779
|
186.895
|
|
|
Sundry Debtors |
402.903
|
367.828
|
293.231
|
|
|
Cash & Bank Balances |
15.682
|
61.848
|
102.842
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
131.487
|
44.746
|
30.929
|
|
Total
Current Assets |
915.505
|
701.201 |
613.897 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
100.019
|
35.274 |
23.499 |
|
|
Other Current Liabilities |
70.948
|
38.774 |
45.130 |
|
|
Provisions |
45.338
|
38.304 |
24.170 |
|
Total
Current Liabilities |
216.305
|
112.352 |
92.799 |
|
|
Net Current Assets |
699.200
|
588.849
|
521.098 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4206.873 |
3466.502 |
2537.930 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1367.742 |
1032.168 |
803.743 |
|
|
|
Other Income |
8.490 |
11.992 |
6.076 |
|
|
|
TOTAL (A) |
1376.232 |
1044.160 |
809.819 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material changes inventories |
758.436 |
542.386 |
|
|
|
|
Manufacturing service cost |
119.226 |
109.502 |
|
|
|
|
Contract cost |
0.000 |
0.000 |
568.056 |
|
|
|
Employee related expenses |
34.684 |
30.646 |
|
|
|
|
Administrative selling other expenses |
51.791 |
45.326 |
|
|
|
|
TOTAL (B) |
964.137 |
727.860 |
568.056 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
412.095 |
316.300 |
241.763 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
100.490 |
85.236 |
82.454 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
311.605 |
231.064 |
159.309 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
277.018 |
60.785 |
49.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
34.587 |
170.279 |
109.316 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.912 |
34.083 |
24.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
22.675 |
136.196 |
85.211 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
206.714 |
141.144 |
75.933 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
50.000 |
20.000 |
|
|
|
Dividend |
22.562 |
17.630 |
0.000 |
|
|
|
Tax on Dividend |
3.746 |
2.996 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
203.081 |
206.714 |
141.144 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
21.280 |
46.905 |
36.043 |
|
|
TOTAL EARNINGS |
21.280 |
46.905 |
36.043 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
35.823 |
10.017 |
11.490 |
|
|
|
Capital Goods |
244.874 |
240.277 |
789.052 |
|
|
TOTAL IMPORTS |
280.697 |
250.294 |
800.542 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.08 |
8.89 |
5.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.65
|
13.04
|
10.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.53
|
16.50
|
13.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.94
|
5.62
|
4.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.11
|
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.62
|
1.25
|
1.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.23
|
5.27
|
6.62 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
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 |
|
Promoter’s 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 in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
---------- |
|
Litigations that the firm/ Promoters Involved in |
---------- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
---------- |
|
Buyer visit details |
---------- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
Form 8
|
Corporate
identity number of the company |
U21093PN2004PLC018983 |
|
Name of the
company |
BILTUBE
INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
1102, 11th Floor, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10179238 |
|
Type of charge |
Immovable
property Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Axis Bank Limited, 1262/B, Email: ruchi.joshi@axisbank.com |
|
Nature of
instrument creating charge |
1) Amendment cum
Link Agreement 2) Link Document |
|
Date of
instrument Creating the charge |
27.12.2011 |
|
Amount secured by
the charge |
Rs. 230.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Axis Bank Base Rate+5%
p.a. i.e presently at 15% p.a. with monthly rests (Present Bank's Base Rate
being 10% p.a.) or the rate
prescribed by Bank from time to time. Terms of repayment As per Agreement
with the Bank Margin As per Agreement
with the Bank Extent and operation of the charge Facility - Term
Loan. Primary Security:
1st parri passu charge on the entire fixed assets of the company, both
present & future alongwith other Term Lenders. Collateral Security:
2nd pari passu charge on the Current assets of the company, both present
& future alongwith other Term Lenders. Charge shall
continue till full repayment of Loan. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
:All tangible moveable machinery, plant and machinery, fixtures, fittings
other installation, cranes, furniture, computers and other accessories,
vehicles together with spares tools All other
articles lying on the factory premises, godowns of the Borrower or in custody
of any other person or in transit which may herein after be brought to the
premises of borrower. Mortgage: Land
bearing Gat No. 1176/1 admeasuring 2H.11 Aar out of total area of 6H 33 Aar
situated at Kasbe Kodoli Taluka- Panhala District - Land bearing Gat
No. 1176/2 admeasuring 01 H.01 Aar out of total area of 3H 05 Taluka- Panhala
District - Land bearing Gat
No.1178/1 admeasuring 01 H.09 Taluka- Panhala
District - Land bearing Gat
No. 1178/2 admeasuring 00H.14.3 Aar out of total area of 4H 27 Taluka- Panhala
District – Land bearing Gat
No.1177, admeasuring 1H.62 Panhala District
- Land bearing Gat
No.1175, admeasuring 0H.25 Panhala District
- Land bearing Gat No.
1174, admeasuring 0H.18 Panhala District
- Land bearing Gat
No. 1176/1 admeasuring 2H.10.3 Panhala District
- |
|
Date of
instrument modifying the charge |
21.10.2009 |
|
Particulars of
the present modification |
Earlier Term Loan
is renewed & restructured by Bank. As per revised Sanction, the said Term
Loan repayment schedule is restructured as: Revised Tenor-Residual tenor of
57 months (from 30.09.2011), Revised Repayment Schedule: To be repaid in 13
equal quarterly install. of Rs. 14.375 Millions, starting from 01.06.13. Also, As per RBI's
instructions, the rate of interest applicable for loan sanctioned, shall,
henceforth be calculated in relation to Base Rate. |
FUTURE
PLAN OF ACTION
The Company has its manufacturing activities at Warna,
Patalganga, Kodoli and
SUBSIDIARIES
Biltube Mauritius Limited has become its Subsidiary Company during
the year by virtue of investment and Biltube Europe Limited,
Conservation of Energy
- Rationalization of Motors done. Removal
of oversize motors from service and deployment of moderate size of motors
done to optimize the power consumption.
- Rationalization of Pumps done. Removal
of oversize Pumps from service and deployment of moderate size of Pumps
done to optimize the power consumption.
Power and Fuel Consumption reduction
- Boiler Furnace area increased from 6.2
Sq. Mtr to 6.7 Sq. Mtr. This modification was done to increase capacity
and to reduce losses of un-burnt fuel.
- Old super heater coil (22 Sq. Mtr.)
replaced with new coils to achieve maximum steam temp and capacity and to
reduce flue gas temp.
- Old economiser coils replaced (50 Sq.
Mtr) with new coils to reduce flue gas temp and to increase Boiler Feed
Water temp. to increase efficiency of Boiler.
- Old Air Heater tube replaced (50 Sq.
Mtr.) with new tube to reduce flue gas temp and to increase Furnace inlet
air temp.
- Mechanical Dust collector Cyclone
system revamped to reduce flue gas velocity. Basic purpose was to remove
ash from system.
- ID fan balancing done to increase
efficiency to reduce backfiring and to achieve required draught.
- Steam pump installed to bring back hot
condensate water to boiler to reduce energy consumption.
- Combo fuel system established to
utilise multi-fuel package suitable on the basis of calorific value. Kaju
Shell + Coal + Bagasse + Wood logs.
Electricity Amount
: Rs 57.263 Millions
Average Per Unit : Rs 6.04
Water conservation
- Installed new showers to presses to
reduce intake of fresh water.
- Felt washing cycles
were rationalized to reduce fresh water usage.
Technology absorption, adaption and innovation
- Adoption of new binder methodology to
enhance strength properties of the core board paper and saving in the
consumption of binder package.
- Changed profile control mechanism to
enhance the paper quality.
- Redesigning of ERP System to generate
better control on stocks.
- Maintenance of Factory and upkeep of
Machinery is done regularly to reduce the consumption of energy per unit
of production.
All above methods have resulted in product improvement, better quality
and reduction in cost.
Fixed Assets:
·
Land
·
Building
·
Plant and machinery
·
Electrical Installation
·
Furniture and Fixture
·
Office Equipment
·
Patents and Rights
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. 53.46 |
|
|
1 |
Rs. 86.27 |
|
Euro |
1 |
Rs. 69.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
48 |
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.