1. Summary Information
|
|
|
Country |
|
|
Company Name |
BALKRISHNA
INDUSTRIES LIMITED |
Principal Name 1 |
Mr. Arvind M.
Poddar |
|
Status |
Good |
Principal Name 2 |
Mr. Dharaprasad
R. Poddar |
|
|
|
Registration # |
11-12185 |
|
Street Address |
H-3/1, M.I.D.C.,
'A' Road, Tarapur, Boisar - 401 506, |
||
|
Established Date |
20.11.1961 |
SIC Code |
-- |
|
Telephone# |
91-22-66663800 |
Business Style 1 |
Manufacturing of
Paperboards, Tyres and Tubes and Synthetics. |
|
Fax # |
91-22-66663898 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Fabrics |
|
|
# of employees |
500 (Approximately) |
Product Name 2 |
Tyres |
|
Paid up capital |
Rs.
193,317,000 /- |
Product Name 3 |
Paper / Paper
Boards |
|
Shareholders |
Promoter and
Promoter Group (54.37%), Public shareholding (45.63%) |
Banking |
Bank
of State
Bank of |
|
Public Limited Corp. |
Yes |
Business Period |
51 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
A
(66) |
|
Related
Company |
|||
|
Relation |
Country
|
Company
Name |
CEO |
|
Subsidiaries |
India |
Balkrishna Paper Mills Limited |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
14,502,332,000 |
Current Liabilities |
2,004,142,000 |
|
Inventories |
4,810,727,000 |
Long-term Liabilities |
16,629,489,000 |
|
Fixed Assets |
8,281,546,000 |
Other Liabilities |
2,981,094,000 |
|
Deferred Assets |
00,000 |
Total Liabilities |
21,614,725,000 |
|
Invest& other Assets |
4,821,051,000 |
Retained Earnings |
00,000 |
|
|
|
Net Worth |
10,800,931,000 |
|
Total Assets |
32,415,656,000 |
Total Liab. & Equity |
32,415,656,000 |
|
Total Assets (Previous Year) |
20,975,298,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
28,199,604,000 |
Net Profit |
2,685,200,000 |
|
Sales(Previous yr) |
19,969,403,000 |
Net Profit(Prev.yr) |
1,856,588,000 |
MIRA
INFORM REPORT
|
Report Date : |
13.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BALKRISHNA INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
H-3/1, MIDC, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.11.1961 |
|
|
|
|
Com. Reg. No.: |
11-12185 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.193.317 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1961PLC012185 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB11319A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB3333J |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing and Exporter of Tires |
|
|
|
|
No. of
Employees: |
5200 (Approximately) (In Factory – 5000, In Branches – 200) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 48200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are
reported as 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) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA- (Long Term Rating) |
|
Rating Explanation |
Having high degree of safety regarding timely servicing of financial
obligation it carry very low credit risk.
|
|
Date |
March 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.
INFORMATION PARTED BY
|
Name : |
Mr. Kapin Rambhia |
|
Designation : |
Senior Import Manager |
|
Contact No.: |
91-22-28315168 |
|
Date : |
13.09.2012 |
LOCATIONS
|
Registered Office : |
H-3/1, MIDC, |
|
Tel. No.: |
91-22-28315168 |
|
Fax No.: |
91-22-66663898 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
BKT House, C Wing, 15th Floor, Trade World,
Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400
013, Maharashtra, India |
|
Tel. No.: |
91-22-66663800 extension 836/ 237 |
|
Fax No.: |
91-22-66663898 |
|
|
|
|
Plant: |
B-66, MIDC Industrial Estate, Waluj Industrial Area, SP-923, RIICO, Phase
III, Post Office Bhiwadi – 301 019, District Alwar, Rajasthan RIICO, Phase VIII, Chopanki, P.O. Bhiwadi, 301 109 Dist. Alwar. Rajasthan Village Padhdhar, Taluka Bhuj. Dist.
Kachchh, Wind Farm: Village Soda And
Mada, Tehsil, Fatehgarh, District Jaisalmer, Rajasthan Mould Plant: Plot No. TS-1, M.I.D.C, Phase No. II,
Dombivali (East), District Thane - 421 201, |
|
|
|
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Dharaprasad R. Poddar |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Arvind M. Poddar |
|
Designation : |
Vice Chairman and Managing Director |
|
Qualification: |
B.Com |
|
Date of Appointment: |
01.08.2006 |
|
|
|
|
Name : |
Mr. Anurag Poddar |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Rajiv Poddar |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Sachin Nath B. Chaturvedi |
|
Designation : |
Director |
|
Date of Birth/Age : |
61 Years |
|
Qualification: |
B.Tech, F.C.A, M.B.A, D.I.S.A. |
|
|
|
|
Name : |
Mr. Subhashchand Mantri |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rameshkumar D. Poddar |
|
Designation : |
Director |
|
Date of Birth/Age : |
59 Years |
|
Qualification: |
B.Sc |
|
|
|
|
Name : |
Mr. Khurshed Doongaji |
|
Designation : |
Director |
|
Date of Birth/Age : |
72 Years |
|
Qualification: |
B.A, LLB, C.B.M |
|
|
|
|
Name : |
Mr. Laxmidas Merchant |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok M. Saraf |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjay Asher |
|
Designation : |
Director |
|
Date of Birth/Age : |
47 Years |
|
Qualification: |
B.com, C.A and Solicitor |
|
|
|
|
Name : |
Mr. Vipul Shah |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
49 Years |
|
Qualification: |
B.com, Acs |
|
|
|
|
Name : |
Mr. Basantkumar Bansal |
|
Designation : |
Whole Time Director |
KEY EXECUTIVES
|
Name : |
Mr. Vipul Shah |
|
Designation : |
Secretary |
|
Date of Birth/Age : |
49 Years |
|
Qualification: |
B.com, Acs |
|
|
|
|
Management
Committee : |
Mr. Dilip M
Vaidya – Director (Technical) Mr. Rajiv Poddar Ms. Khushboo
Poddar Mr. Basantkumar
Bansal |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2012
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
52,551,240 |
54.37 |
|
|
270 |
- |
|
|
52,551,510 |
54.37 |
|
|
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
52,551,510 |
54.37 |
|
|
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
13819591 |
14.30 |
|
|
20535 |
0.02 |
|
|
6354926 |
6.57 |
|
|
20195052 |
20.89 |
|
|
|
|
|
|
|
|
|
|
11910687 |
12.32 |
|
|
|
|
|
|
|
|
|
|
6669819 |
6.90 |
|
|
5075288 |
5.25 |
|
|
|
|
|
|
256239 |
0.27 |
|
|
255139 |
0.27 |
|
|
1000 |
0.000 |
|
|
100 |
0.00 |
|
|
23912033 |
24.74 |
|
|
|
|
|
Total Public shareholding (B) |
44107085 |
45.63 |
|
|
|
|
|
Total (A)+(B) |
96,658,595 |
100.00 |
|
|
|
|
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
|
|
|
|
Total (A)+(B)+(C) |
96,658,595 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporter of Tires |
|
|
|
|
Brand Name : |
‘BKT’ |
|
|
|
|
Exports : |
|
|
Products : |
Tires |
|
Countries : |
·
·
·
·
Gulf |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C Advance |
|
|
|
|
Purchasing : |
L/C Advance |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Tyres |
Numbers |
42.63 lacs |
2781991 |
|
Tube |
Numbers |
12.44 lacs |
37,813 |
|
Tyres Flaps |
Numbers |
3.79 lacs |
46,824 |
|
Wind Power Generation (Captively consumed) |
KWH/Units |
5 MW |
6197218 |
GENERAL INFORMATION
|
|
|
|
No. of Employees : |
5200 (Approximately) (In Factory – 5000, In Branches – 200) |
|
|
|
|
Bankers : |
·
Bank Of ·
Barclays Bank PLC ·
Corporation Bank ·
ING Vysya Bank ·
Indusind Bank ·
The Royal Bank Of ·
Standard Chartered Bank ·
State Bank Of |
|
|
|
|
Facilities : |
NOTE:
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jayantilal
Thakkar and Company Chartered
Accountants |
|
|
|
|
Internal Auditor : |
Dilip A. Jain and
Associates Chartered
Accountants |
|
|
|
|
Subsidiaries : |
·
Balkrishna Paper Mills Limited ·
Balkrishna Synthetics Limited ·
BKT Tyres Limited ·
BKT Exim Limited Indirect
Subsidiary Companies ·
Subsidiary Companies of BKT Exim Limited; i.e.
BKT (EUROPE) Limited ·
BKT ·
BKT ( |
|
|
|
|
Related Parties : |
· Govind Rubber Limited. · SPG Infrastructure Limited. · GRL International Limited. · BKT Moulds Limited. |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.2/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
96658595 |
Equity Shares |
Rs.2/- each |
Rs.193.317 Millions |
|
|
|
|
|
All the equity shares have equal rights in
respect of distribution of dividends and the repayment of capital
|
Name of Shareholders |
No. of shares hold |
|
GPP |
23476735 |
|
%Holding |
24.29 |
|
RAP |
23237995 |
|
%Holding |
24.07 |
|
COPA Cabana |
9273750 |
|
%Holding |
9.59 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
193.317 |
193.317 |
193.317 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10607.614 |
8124.441 |
6414.437 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10800.931 |
8317.758 |
6607.754 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13057.795 |
3854.425 |
2642.676 |
|
|
2] Unsecured Loans |
3571.694 |
2215.866 |
2000.606 |
|
|
TOTAL BORROWING |
16629.489 |
6070.291 |
4643.282 |
|
|
DEFERRED TAX LIABILITIES |
625.889 |
569.934 |
548.118 |
|
|
|
|
|
|
|
|
TOTAL |
28056.310 |
14957.983 |
11799.154 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8281.546 |
6874.432 |
6148.834 |
|
|
Capital work-in-progress |
4498.700 |
1463.818 |
588.700 |
|
|
|
|
|
|
|
|
INVESTMENT |
322.351 |
322.351 |
807.265 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4810.727
|
4103.762
|
2030.526
|
|
|
Sundry Debtors |
4796.107
|
3247.787
|
2403.040
|
|
|
Cash & Bank Balances |
3573.968
|
109.866
|
42.279
|
|
|
Other Current Assets |
253.070
|
0.292
|
0.287
|
|
|
Loans & Advances |
5879.187
|
4852.990
|
3696.470
|
|
Total
Current Assets |
19313.059
|
12314.697 |
8172.602 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2004.142
|
2154.801
|
843.369 |
|
|
Other Current Liabilities |
901.161
|
238.431
|
305.676
|
|
|
Provisions |
1454.044
|
3624.083
|
2769.202
|
|
Total
Current Liabilities |
4359.347
|
6017.315 |
3918.247 |
|
|
Net Current Assets |
14953.712
|
6297.382
|
4254.355
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28056.309 |
14957.983 |
11799.154 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28199.604 |
19969.403 |
13869.596 |
|
|
|
Other Income |
32.970 |
163.537 |
264.386 |
|
|
|
TOTAL (A) |
28232.574 |
20132.940 |
14133.982 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
17412.595 |
- |
- |
|
|
|
Purchase of stock in trade |
178.043 |
- |
- |
|
|
|
Employee Benefit expenses |
723.328 |
- |
- |
|
|
|
Other Expense |
5307.157 |
- |
- |
|
|
|
Changes in inventories of Finished goods, work in progress and stock in trade |
(479.630) |
- |
- |
|
|
|
Manufacturing, Trading and Other Expenses |
- |
16426.316 |
10171.910 |
|
|
|
Short Provisions for (Expenses) |
- |
0.568 |
0.000 |
|
|
|
Excess Provision for Taxation of Earlier
years |
- |
(0.964) |
0.000 |
|
|
|
TOTAL (B) |
23141.493 |
16425.920 |
10171.910 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5091.081 |
3707.020 |
3962.072 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
277.514 |
212.226 |
186.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4813.567 |
3494.794 |
3775.482 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
831.412 |
744.389 |
662.161 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3982.155 |
2750.405 |
3113.321 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1296.955 |
893.817 |
1026.049 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2685.200 |
1856.588 |
2087.275 |
|
|
|
|
|
|
|
|
|
|
Excess Provision
for Taxation of earlier years |
(33.500) |
- |
- |
|
|
|
Short Provision for
(Expenses) (Net) |
0.000 |
- |
- |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3893.100 |
2379.311 |
658.561 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5499.100 |
185.658 |
208.728 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
135.322 |
|
|
|
Proposed Final Dividend |
145.000 |
135.322 |
0.000 |
|
|
|
Tax on Dividend |
23.500 |
21.868 |
22.475 |
|
|
BALANCE
CARRIED TO THE B/S |
877.200 |
3893.051 |
2379.311 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
24973.390 |
17047.123 |
11792.933 |
|
|
|
Recovery towards Freight and Insurance on
Exports |
723.080 |
596.426 |
355.654 |
|
|
|
Recovery of Capital Expenditure |
0.670 |
0.000 |
6.791 |
|
|
|
Recovery towards |
0.000 |
0.000 |
4.437 |
|
|
TOTAL EARNINGS |
25697.140 |
17643.549 |
12159.815 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
14449.975 |
9647.369 |
5029.738 |
|
|
|
Stores & Spares |
169.032 |
86.039 |
78.878 |
|
|
|
Capital Goods |
1223.814 |
160.835 |
258.445 |
|
|
|
Traded Goods |
4.829 |
0.000 |
3.972 |
|
|
|
Others |
2.160 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
15849.81 |
9894.243 |
5371.033 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.43 |
19.21 |
107.97 |
|
Expected Sales (2012-2013): Rs.35000.000 Millions
The above information has been parted by Mr. Kapin Rambhia
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2012 1st
Quarter |
|
Net Sales |
|
|
8313.000 |
|
Total Expenditure |
|
|
6945.000 |
|
PBIDT (Excl OI) |
|
|
1368.000 |
|
Other Income |
|
|
5.100 |
|
Operating Profit |
|
|
1373.100 |
|
Interest |
|
|
60.900 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
1312.200 |
|
Depreciation |
|
|
229.200 |
|
Profit Before Tax |
|
|
1083.000 |
|
Tax |
|
|
352.100 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
730.900 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
730.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.48 |
9.22 |
14.77
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.12 |
13.77 |
22.45
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.43 |
14.33 |
21.74
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.33 |
0.47
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.94 |
1.45 |
1.30
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.43 |
2.04 |
2.09
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes
|
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes
|
|
17] |
Major suppliers |
No
|
|
18] |
Major customers |
No
|
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
- |
|
22] |
Litigations that the firm
/ promoter involved in |
- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes
|
|
25] |
Conduct of the banking
account |
- |
|
26] |
Buyer visit details |
- |
|
27] |
Financials, if provided |
Yes
|
|
28] |
Incorporation details, if
applicable |
Yes
|
|
29] |
Last accounts filed at
ROC |
Yes
|
|
30] |
Major Shareholders, if
available |
Yes
|
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes
|
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes
|
OPERATIONS:
The Company mainly operates in one segment i.e. “tyres” with a focus on
manufacture of wide range of “Off-Highway Specialty Tyres”. These specialty
tyres are meant for Agricultural, Industrial, Material Handling, Construction,
Earthmoving (OTR), Forestry, Lawn and Garden Equipments and All Terrain
Vehicles (ATV). Around 90% of their revenue is generated through exports.
During the year under consideration the Company has witnessed a good
surge in its top line which was grown by 46%. The Net Turnover and other Income
of the company increased from Rs.19340.000 Millions to Rs.28200.000 Millions in
the year under consideration.
The Gross Profit of the Company for the year under consideration has
increased from Rs.3490.000 Millions to Rs. 4810.000 Millions and correspondingly,
the profit after tax has increased to Rs.2690.000 Millions as compare to
Rs.1860.000 Millions in the previous year.
The Company continues to enjoy the status of “STAR TRADING HOUSE”.
OUTLOOK FOR THE
CURRENT YEAR 2012-2013:
Though the company is seeing continuity in demand of its products in the
current financial year in line with that of previous year, the fear of slow
down, particularly in Europe and
The raw material prices and other input costs have started softening in
the current financial year as compared to previous year. If the softening in
raw material prices and other inputs costs continues, the margins of the
company in the current financial year is expected to be better than that of
previous year.
The company continues to expand its base through developing new product
lines, venturing into new geographies and deeper penetration into existing
markets to ensure its sustainable growth.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2012
(Rs.
in Millions)
|
Particulars |
Quarter Ended |
|
|
30.06.2012 |
|
Net Sales/ Income from Operations |
8296.300 |
|
1. (b) Other Operating Income |
16.700 |
|
Total Income
From operations |
8313.00 |
|
2. Expenditure |
|
|
a. Cost of Raw Materials consumed |
4798.300 |
|
b. Purchases of stock in trade |
28.00 |
|
c. Changes in inventories of finished goods , work in progress and
stock in trade |
(118.500) |
|
d. Employee benefit expenses |
251.200 |
|
e. Depreciation and amortisation expense |
229.200 |
|
f. Power and
fuel |
298.100 |
|
g. Other Expenditure |
1484.700 |
|
Total
Expenditure |
6971.00 |
|
3. Profit from Operations
before Other Income, Interest and Exceptional Items (1-2) |
1342.000 |
|
4. Other Income |
5.100 |
|
5. Profit before Interest and Tax
|
1347.100 |
|
6. Int (Net Loss (Gain) on Foreign
currency transaction |
60.900 203.200 |
|
7. Profit from Ordinary
Activities before Tax and exceptional
items |
1083.000 |
|
8. Exceptional items |
- |
|
9. Profit from Ordinary
Activities before Tax but before
exceptional items |
1083.000 |
|
10. Tax Expenses |
352.100 |
|
11. Net profit/(loss) for the
period |
730.900 |
|
12. Paid-up Equity Share Capital (face value Rs.2 per share) |
- |
|
13. Reserves excluding revaluation reserve as per balance sheet of
previous accounting year |
730.900 |
|
14. Earning Per Share |
|
|
a. Basic and b. Diluted |
7.56 |
|
15. Public shareholding |
|
|
- No. of shares |
44107085 |
|
- % of holding (to total shareholding) |
45.63 |
|
Promoters And Promoter Group Shareholding a) Pledged/ Encumbered |
|
|
-Number of Shares |
- |
|
-% of Shares (As a % of the total Shareholding of Promoter and
Promoter Group) |
- |
|
-% of Shares (as a % of the total share capital of the Company) |
- |
|
b) Non Encumbered |
|
|
- Number of Shares |
52551510 |
|
-% of Shares (As a % of the total Shareholding of Promoter and
Promoter Group) |
100 |
|
-% of Shares (as a % of the total share capital of the Company) |
5437 |
Notes:
- The above Unaudited (Stand -alone) results as reviewed by the Audit Committee have been approved by the Board of Directors at its meeting held on 11th February, 2012. The Auditors of the company have carried out the "Limited Review" of the above results.
- Segment reporting as required byAS-17 is not applicable as the Company operates in one single primary business segment i.e. Tyres.
- The implementation of green field lyre plant at Bhuj is progressing as per schedule.
- The details of number of investor complaints for the quarter:
Beginning-Nil, Received-1, Disposed -1, Pending – Nil
5. Figures for the previous periods/ year have been Re-grouped/ Re-classified wherever necessary
CONTINGENT
LIABILITIES AND COMMITMENTS
Rs.
In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
CONTINGENT
LIABILITIES |
|
|
|
a)Claims against the company not acknowledged as debts |
|
|
|
-Disputed claims for excise, sales tax and service tax |
140.401 |
136.358 |
|
-Disputed income tax demands |
79.000 |
138.795 |
|
b)Guarantees given by the Company’s bankers on behalf of the Company against the Company’s indemnity |
1203.348 |
115.609 |
|
c) Corporate Guarantee given by the Company |
|
|
|
-To President of |
15812.500 |
6500.000 |
|
- To the subsidiary company |
7.767 |
Nil |
|
-To the other Company |
18.531 |
Nil |
|
|
|
|
|
COMMITMENTS |
|
|
|
Estimated amount of contacts remaining to be executed an capital account and not provided for |
7392.251 |
2722.165 |
FIXED ASSETS:
·
·
· Buildings and Roads
· Plant and Machinery
· Factory, Office And Other Equipments
· Electric Installations
· Furniture and Fixtures
· Vehicles
· Air Conditioners
· Intangible Assets - Computer Software
AS PER
WEB SITE DETAILS
PROFILE
BKT is one of the
world's leading manufacturers of "OFF-HIGHWAY tires". BKT has the
widest product range with more than 2000 SKU's (Stock Keeping Units) and is
"One Stop Shop" for all off-highway tyre solutions.
The success story of
BKT begun in 1995, when it entered into production of cross ply off-highway
tires. Product received instant acceptance in European and North American
market. With the help of persistent and intensive market research coupled with
ever expanding production capabilities, today BKT has made its mark in the
specialty segments like Agricultural, Construction, Industrial, Earthmover,
Port, ATV (All Terrain Vehicle) and Turf care applications in both cross ply
and radial construction.
More than 90% of
tyre production is exported to more than 120 countries across all five
continents, in all the major markets of Europe, North and South America,
Africa, Asia and
BKT is continuously
expanding its production base. With three state of the art "
EMAIL
CONTACTS
Australia and New Zealand :- ANZ@bkt-tires.com
Europe :- europe@bkt-tires.com
North America :- usa@bkt-tires.com
Africa :- africa@bkt-tires.com
South America :- LSA@bkt-tires.com
Asia :- asia@bkt-tires.com
Middle east and North Africa :- MENA@bkt-tires.com
For Media
Connections Please Contact :- media@bkt-tires.com
For Career Related
Communications Please Contact :- hrd@bkt-tires.com
For Purchase
Related Queries Please Contact :-purchase@bkt-tires.com
For Product
Technical Queries and Support Please Contact :-technical@bkt-tires.com
For any OEM
related Queries Please Contact :-oem@bkt-tires.com
HISTORY
|
Year |
History |
|
2011 |
4th Plant; a |
|
2010 |
Introduced Radial Harvester tires sub branded as AGRIMAX TERIS Radial extra large tires sub branded as AGRI MAX FORTIS Introduced Steel belted Forestry tires sub branded as FORSTECH also introduced steel belted ROADMAX range of tires |
|
2009 |
Introduced Forestry range of tires |
|
2008 |
All Steel Radial OTR tires. First company from |
|
2007 |
Introduced 65 series and 90 Series AGRIMAX range of tires Port application tires and Row crop tires. |
|
2006 |
Third Manufacturing unit commissioned at Chopanki in
Opened European office at Launched Floatation Radial tires |
|
2005 |
In house mould shop established |
|
2004 |
Radial Agricultural tires. First company from |
|
2003 |
Earthmover tires, All Terrain Vehicle (ATVs), Lawn and Garden tires |
|
2002 |
Second Manufacturing unit was established at Bhiwadi in
Northern part of |
|
2001 |
Started production of Flotation and MPT tires and further expanded the production capacities and capabilities. |
|
2000 |
More than 500 SKUs developed in Agricultural application segment since 1996 |
|
1996 |
Commenced exports to Europe and North American markets
with |
|
1995 |
Identified a niche segment for International Market, commenced production of Off Highway Segment |
|
1992 |
A range of Light Commercial Vehicle tires launched in the international market. |
|
1988 |
First Manufacturing unit was established at |
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.52.70 |
|
|
1 |
Rs.84.51 |
|
Euro |
1 |
Rs.68.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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.