MIRA
INFORM REPORT
|
Report Date : |
12.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHOLE BABA DAIRY INDUSTRIES LIMITED |
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Registered
Office : |
602, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.03.2003 |
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Com. Reg. No.: |
55-119571 |
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Capital
Investment/ Paid-up Capital: |
Rs.155.660 Millions |
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CIN No.: [Company Identification
No.] |
U15209DL2003PLC119571 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELB08475F |
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PAN No.: [Permanent Account No.] |
AACCB2221M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer
and Supplier of Safe and Quality Food Products. |
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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 2510000 |
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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 a well established and reputed company having satisfactory
track record. The company has successful wipe out its accumulated loss but there
appear fall in profitability of the company. However general financial position of the company seems good. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
BBB (Cash Credit) |
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Rating Explanation |
Considered having moderate degree of safety regarding
timely servicing of financial obligation it carry moderate credit risk. |
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Date |
January 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/Corporate Office
: |
602, Madhuban Building, Opposite, Sona Sweets, Nehru Place, New Delhi
-110019, India |
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Tel. No.: |
91-11-46587047 |
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Fax No.: |
Not Available |
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E-Mail : |
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Web Site: |
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Head Office : |
Near |
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Tel. No.: |
91-562-4016000 |
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Fax No.: |
91-562-4016002 |
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Factory 1 : |
Agra-Aligarh by Pass
Road Kher Chauraha, Near Nada Pull, Khaireshwar Dham, Aligarh -201 001 Uttar Pradesh, India |
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Tel. No.: |
91-571.3252400 |
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Fax No.: |
91-571.2513882 |
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Factory 2 : |
109th K.M. stone N.H.
No.2 Dautana, Chaata Mathura, |
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Tel. No.: |
91-5662-2423629 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Hari Shankar Agarwal |
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Designation : |
Director |
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Address : |
10, Nehru Nagar, Agar – 282002, |
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Date of Birth/Age : |
16.08.1953 |
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Qualification: |
Graduate |
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Date of Appointment : |
26.03.2003 |
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Din No.: |
00667290 |
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Other Directorship:
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Name : |
Mr. Jitendra Agarwal |
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Designation : |
Director |
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Address : |
10, Nehru Nagar, Agar – 282002, |
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Date of Birth/Age : |
05.10.1981 |
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Qualification: |
Graduate |
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Date of Appointment : |
20.05.2005 |
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Din No.: |
00724256 |
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Other Directorship:
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Name : |
Mr. Virendra Kumar Agarwal |
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Designation : |
Director |
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Address : |
10, Nehru Nagar, Agar – 282002, |
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Date of Birth/Age : |
24.07.1977 |
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Qualification: |
Graduate |
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Date of Appointment : |
12.08.2005 |
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Din No.: |
00667248 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Hari Shankar Agarwal |
|
10000 |
|
Bholesshankar FINSEC Private Limited |
|
1000000 |
|
Harikrishna FINSEC Private Limited |
|
440000 |
|
Bhole Baha Holding Private limited |
|
590000 |
|
Bhole Baba Bullion Private limited |
|
346000 |
|
Jitendra Agarwal |
|
100 |
|
Virendra Kumar Agarwal |
|
1900 |
|
Jai Hari Traders Private Limited, |
|
1400000 |
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Sitaram Enterprises Private Limited, |
|
979500 |
|
Bhole Baba Milk Food Industries Limited |
|
2600000 |
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Shree Astha Vinayak Traders Private Limited, |
|
3919500 |
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Shree Shiv Shankar Traders Private Limited, |
|
679000 |
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Omshiva Traders Private Limited, |
|
600000 |
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|
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Total |
|
12566000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
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|
|
|
|
Bodies corporate |
|
99.91 |
|
Directors or relatives of directors |
|
0.09 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Supplier of Safe and Quality Food Products. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of ·
State Bank of ·
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Renu and Company Chartered Accountant |
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Address : |
76, North Vijay Nagar Colony, |
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Pan No.: |
AFYPM1227L |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12566000 |
Equity Shares |
Rs.10/- each |
Rs.125.660
Millions |
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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 |
125.660 |
125.660 |
125.660 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
500.907 |
454.592 |
378.095 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
626.567 |
580.252 |
503.755 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1599.101 |
1535.281 |
1204.310 |
|
|
2] Unsecured Loans |
110.000 |
350.202 |
140.642 |
|
|
TOTAL BORROWING |
1709.101 |
1885.483 |
1344.952 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
|
|
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TOTAL |
2335.668 |
2465.735 |
1848.707 |
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APPLICATION OF FUNDS |
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|
|
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FIXED ASSETS [Net Block] |
436.912 |
487.881 |
557.714 |
|
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Capital work-in-progress |
594.931 |
559.987 |
511.130 |
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
629.994
|
1083.732 |
473.243 |
|
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Sundry Debtors |
502.230
|
232.473 |
269.074 |
|
|
Cash & Bank Balances |
17.431
|
26.186 |
14.996 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
180.945
|
83.042 |
40.360 |
|
Total
Current Assets |
1330.600
|
1425.433 |
797.673 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.011
|
2.574 |
14.738 |
|
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Other Current Liabilities |
0.315
|
0.270 |
0.000 |
|
|
Provisions |
13.449
|
4.722 |
3.072 |
|
Total
Current Liabilities |
26.775
|
7.566 |
17.810 |
|
|
Net Current Assets |
1303.825
|
1417.867 |
779.863 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2335.668 |
2465.735 |
1848.707 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3595.556 |
2596.757 |
2909.929 |
|
|
|
Other Income |
119.789 |
70.336 |
73.388 |
|
|
|
TOTAL (A) |
3715.345 |
2667.093 |
2983.317 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
3240.843 |
2203.893 |
|
|
|
|
Manufacturing service costs |
97.144 |
87.430 |
|
|
|
|
Employee related expenses |
33.251 |
25.384 |
|
|
|
|
Administrative selling other expenses |
67.602 |
69.799 |
|
|
|
|
TOTAL (B) |
3438.840 |
2386.506 |
2733.896 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
276.505 |
2805.587 |
249.421 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
167.045 |
130.039 |
116.865 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
109.460 |
150.548 |
132.556 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
63.144 |
74.051 |
87.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.316 |
76.497 |
45.212 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
46.316 |
76.497 |
44.927 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(47.248) |
123.745 |
(168.671) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.932) |
(47.248) |
(123.744) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
US$ 20094330 |
USD 20094330.00 |
USD 21088053.37 EURO 93825.00 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
73.039 |
0.000 |
|
|
|
Components and Spares parts |
NA |
1.058 |
6.074 |
|
|
|
Capital Goods |
|
12.999 |
200.768 |
|
|
TOTAL IMPORTS |
NA |
87.096 |
206.842 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.69 |
-- |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.25 |
2.87 |
1.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.29 |
2.95 |
1.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.62 |
3.99 |
3.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.14 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.77 |
3.26 |
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
49.70 |
188.40 |
44.79 |
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 |
No |
|
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 |
No |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
FORM 8
|
Corporate
identity number of the company |
U15209DL2003PLC119571 |
|
Name of the
company |
BHOLE
BABA DAIRY INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
602, Madhuban Building, Opposite, Sona Sweets, Nehru Place, New Delhi
-110019, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10005691 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of Email: sbpcbnd@yahoo.co.in |
|
Nature of
instrument creating charge |
Memorandum
of Entry. |
|
Date of
instrument Creating the charge |
22.02.2012 |
|
Amount secured by
the charge |
Rs.700.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and
operation of the charge Extent
and Operation - 100% Others: The
above is to secure the following credit facilities granted by the bank :- Term
Loan - RS. 700.000 Milllions Bank
Guarantee - RS. 100.000 Millions (with in term laon) FLC -
RS. 200.000 Millions (with in
term loan) |
|
Short particulars
of the property charged (Including location of the property) |
Equitable
mortgage of company's immovable properties SITUATED AT Khata No. 80, Khasra
No. 321, Tajpur Rasoolpur, Tehsil kol, District . |
|
Date of last modification prior to the present modification |
22.10.2010 |
|
Particulars of the present modification |
Term
Loan of Rs. 700.000 Millions already secured by first and exclusive charge on
MOV. Fixed assets shall now adlly. Be secured by first pari passu charge over
co's immo. Property i.e. Land situated
at village Tajpur Rasoolpur and Wazidpur Nada, Tehsil Kol. District Aligarh
Uttar Pradesh Together with all buildings and structures thereon or to be
thereon. |
NOTE:
The Registered office of the company has been
shifted form C -724, New Friends Colony,
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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 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.54.34 |
|
|
1 |
Rs.86.96 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.