MIRA INFORM REPORT
|
Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHARAT ELECTRICAL CONTRACTORS AND MANUFACTURES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. H-1/2, MIDC Kupwad – 416436, Maharashtra |
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|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
17.10.2005 |
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|
Com. Reg. No.: |
11-021416 |
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Capital
Investment / Paid-up Capital : |
Rs.17.037 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909PN2005PTC021416 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPB01972F |
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|
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PAN No.: [Permanent Account No.] |
AACCB7172P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Trader of Electrical goods. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1410000 |
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|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a established company having good track. Financially
company is performing well. Trade relations are reported to be fair. Business
is active. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation it carry moderate credit risk. |
|
Date |
April 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/ Factory : |
Plot No. H-1/2, MIDC Kupwad – 416436, Maharashtra, India |
|
Tel. No.: |
91-233-2643977 |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Corporate Office : |
J-78 M. I. D. C. District Sangli Kupwad - 416 436, Maharashtra, India |
|
Tel. No.: |
91-233-2644277/ 2645077/ 2643977/ 2644176 |
|
Fax No.: |
91-233-2644677 |
|
|
|
|
Branch : |
Chimbali Phata, Gate No. 136, Pune-Nashik Highway, Opposite Om
Logistics, A/P- Kuruli, Chakan Road, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-20-32420028 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Shantinath Adagouda Patil |
|
Designation : |
Managing Director |
|
Address : |
Plot No.1, LIC Colony, 100 Feet Road, Vishrambag, Sangli – 416415,
Maharashtra, India |
|
Date of Birth/Age : |
02.04.1960 |
|
Qualification : |
Diploma Mechanical |
|
Date of Appointment : |
24.01.2012 |
|
PAN No.: |
ABPPP5773P |
|
DIN No.: |
01008226 |
|
|
|
|
Name : |
Mrs. Sangeeeta Shantinath Patil |
|
Designation : |
Director |
|
Address : |
Plot No.1, LIC Colony, 100 Feet Road, Vishrambag, Sangli – 416415,
Maharashtra, India |
|
Date of Birth/Age : |
08.07.1966 |
|
Qualification : |
Diploma Electrical |
|
Date of Appointment : |
17.10.2005 |
|
PAN No.: |
ABPPP5885N |
|
DIN No.: |
01008278 |
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|
|
|
Name : |
Mr. Sumit Patil |
|
Designation : |
Director |
|
Address : |
A/P- L.I.C. Colony, Vishrambag, Sangli - 416416, Maharashtra,
India |
|
Date of Birth/Age : |
29.09.1988 |
|
Qualification : |
BE Electrical |
|
Date of Appointment : |
30.11.2007 |
|
PAN No.: |
ANWPP5336P |
|
DIN No.: |
02053476 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shantinath Adagouda Patil |
|
10126 |
|
Sangeeeta Shantinath Patil |
|
3737 |
|
Shantinath Adagouda Patil (HUF) |
|
1914 |
|
Sumit Shantinath Patil |
|
1260 |
|
|
|
|
|
Total
|
|
17037 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trader of Electrical goods. |
PRODUCTION STATUS (As on: 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
AB Switch |
Nos |
NA |
NA |
4280.00 |
|
Fabricated Material |
Ton |
NA |
NA |
2307.58 |
|
Horn Gap Fuses |
Nos |
NA |
NA |
3702.00 |
|
Meter Box Material |
Nos |
NA |
NA |
4082.00 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Y.P. Lele and Company Chartered Accountants |
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Address : |
Laxmi Vijay Apartments, Near Bhanoo Talim, Brahmin Puri, Miraj, Maharashtra, India |
|
PAN No.: |
AAJPL6040J |
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Associates : |
Pratibha Bharat Associates |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.1000/- each |
Rs.20.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17037 |
Equity Shares |
Rs.1000/- each |
Rs.17.037
Millions |
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|
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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 |
17.037 |
17.037 |
17.037 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
336.601 |
227.749 |
159.832 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
353.638 |
244.786 |
176.869 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
120.003 |
138.878 |
99.051 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
120.003 |
138.878 |
99.051 |
|
|
DEFERRED TAX LIABILITIES |
1.311 |
1.113 |
0.574 |
|
|
|
|
|
|
|
|
TOTAL |
474.952 |
384.777 |
276.494 |
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|
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APPLICATION OF FUNDS |
|
|
|
|
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|
|
|
|
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|
FIXED ASSETS [Net Block] |
61.283 |
53.780 |
46.169 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.979 |
0.791 |
3.952 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
203.499
|
131.327 |
50.909 |
|
|
Sundry Debtors |
252.847
|
198.344 |
158.092 |
|
|
Cash & Bank Balances |
90.084
|
168.787 |
65.807 |
|
|
Other Current Assets |
214.068
|
98.613 |
50.658 |
|
|
Loans & Advances |
45.707
|
36.410 |
21.437 |
|
Total
Current Assets |
806.205
|
633.481 |
346.903 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
265.134
|
220.223 |
75.516 |
|
|
Other Current Liabilities |
77.424
|
46.106 |
20.659 |
|
|
Provisions |
59.000
|
37.000 |
24.420 |
|
Total
Current Liabilities |
401.558
|
303.329 |
120.595 |
|
|
Net Current Assets |
404.647
|
330.152 |
226.308 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.043 |
0.054 |
0.065 |
|
|
|
|
|
|
|
|
TOTAL |
474.952 |
384.777 |
276.494 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1500.000 |
1000.000 |
750.000 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
172.317 |
112.708 |
71.063 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.000 |
4.683 |
2.442 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
168.317 |
108.025 |
68.621 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
59.197 |
37.539 |
24.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
109.120 |
70.486 |
44.046 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.013 |
0.042 |
0.083 |
|
|
|
|
|
|
|
|
|
Add |
Excess provision
for Taxation for earlier year written back |
0.911 |
0.000 |
0.107 |
|
|
|
|
|
|
|
|
|
Less |
Short Provision for
Taxation |
0.000 |
1.115 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Provision for
Taxation of Bharat Metal Works F.Y. 06.07 written back |
0.000 |
0.000 |
0.006 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
110.040 |
69.400 |
44.200 |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.004 |
0.013 |
0.042 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6460.00 |
4074.00 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.40 |
15.72 |
17.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.44 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.47 |
1.81 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01 |
2.09 |
2.88 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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% |
-- |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL RESULTS:
During the Current Year, the management has planned a turnover of Rs.1500.000 Millions and is hopeful to achieve the same and show still better results.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U31909PN2005PTC021416 |
|
Name of the
company |
BHARAT ELECTRICAL
CONTRACTORS AND MANUFACTURERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Plot No. H-1/2, MIDC Kupwad – 416436, Maharashtra, India E-mail: aviabhyankar@gmail.com
|
|
This form is for |
Creation of
charge Modification
of charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
SSKSAK The Kurundwad Urban Co-Operative Bank Limited, Kurundwad,
Sangli, Sangali - 416416, Maharashtra, India E-mail: aviabhyankar@gmail.com
|
|
Nature of
instrument creating charge |
Hypothecation
agreement for purchase of " Innova Car i.e. Innova 2.5 V CRYSTA (M) -7S
VARIANT : VX |
|
Date of
instrument Creating the charge |
29.09.2011 |
|
Amount secured by
the charge |
Rs.1.000 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.5% Per Annuam Terms of
Repayment 36 months Margin As per Agreement Extent and
Operation of the charge 1. Original Receipts,
Insurance documents and duplicate key to be kept in the custody of Bank 2. Nature of Bank
loan shall be appeared in the R C Book of Vehicle Others As per Agreement
enclosed |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
entire assets (innova car) Other details of
innova 2.5 V CRYSTA (M) 7S Variant : VX Chassis no.:
MBJ11J4007290962~0911, engine no.:2KD
6874451 Ext color: super
white, INT color: grege |
FIXED ASSETS:
- Goodwill
- Land
Development
- Factory
Building
- Air
Conditioner
- Fax Machine
- Furniture and
Dead Stock
- Generator
Vehicles
- Motor Cycles
- Computer
- Plant and
Machinery
- Tools and
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.