|
Report Date : |
15.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BGR MINING AND INFRA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
16-II-380-B, Srinivasa, Agraharam, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
18.04.2011 |
|
|
|
|
Com. Reg. No.: |
073928 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.450.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400AP2011PTC073928 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDB04910D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECB5497R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Contractor of Over Burden Removal and Coal Extraction in Coal Mining |
|
|
|
|
No. of
Employees: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of B. Giriraja Pathi Reddy, a partnership
concern started in the year 1988. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some caution. |
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 |
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. D Venkaram Reddy |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9177612060 |
|
Date : |
13.09.2012 |
LOCATIONS
|
Registered Office : |
16-II-380-B, Srinivasa, Agraharam, |
|
Tel. No.: |
91-240-2307023 |
|
Fax No.: |
91-240-2307023 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory/Corporate Office : |
8-2-596/R, Road No 10, Banjarahills Nearkarvey Junction, |
|
Tel. No.: |
91-40-23351932 |
|
Fax No.: |
91-40-23351931 |
|
|
|
DIRECTORS
|
Name : |
Mr. Bathina Umapathi Reddy |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
16/ II - 380b, Srinivasa Agraharam, Stonehousepeta, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1959 |
|||||||||||||||||||||||||||
|
Date of Appointment: |
18.04.2011 |
|||||||||||||||||||||||||||
|
Din No.: |
02202915 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Induru Sudhakarareddy |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
24/II/424-I, Saraswathi Nagar, Dargamitta, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.08.1954 |
|||||||||||||||||||||||||||
|
Date of Appointment: |
18.04.2011 |
|||||||||||||||||||||||||||
|
Din No.: |
02202931 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Bathina Girijapathi Reddy |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
24/383-21D, Sujathamma Colony, Dargamitta, Nellore -524003, Andhra
Pradesh, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.06.1956 |
|||||||||||||||||||||||||||
|
Date of Appointment: |
18.04.2011 |
|||||||||||||||||||||||||||
|
Din No.: |
02292691 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. D Venkaram Reddy |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.04.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bathina Girijapathi Reddy |
|
2700000 |
|
Bathina Umapathi Reddy |
|
10800000 |
|
Sudhakar Reddy |
|
6750000 |
|
V Raghurami Reddy |
|
4500000 |
|
Vijayalakshmi B |
|
4050000 |
|
Rohit Reddy Bathina |
|
4050000 |
|
Bathina Karthik |
|
4050000 |
|
Deepak induru |
|
4050000 |
|
Dheeraj Induru |
|
4050000 |
|
Total |
|
45000000 |
BUSINESS DETAILS
|
Line of Business : |
Contractor of Over Burden Removal and Coal Extraction in Coal Mining |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
No. of Employees : |
1500 (Approximately) |
|
|
|
|
Bankers : |
·
Syndicate Bank, G · Bank of Baroda, # 3-6-262/2 Corporate Financial service Branch, Tirumala Estates, 3rd Himayat Nagar Hyderabad – 500029, Andhra Pradesh, India ·
Kotak Mahindra Bank, |
|
|
|
|
Financial Institution: |
·
Shriram Equipment Finance Company Limited, Mookambika Complex, 3rd
Floor, No.4, Lady Desika Road, Mylapore, Chennai – 600004, ·
L and T Finance Limited, L and T House, Ballard
Estate,, Mumbai - 400001, |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunder Rajarao and Company Chartered Accountant |
CAPITAL STRUCTURE
BGR MINING AND INFRA PRIVATE LIMITED
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs.450.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
B. GIRIRAJA PATHI REDDY
(PARTNERSHIP CONCERN)
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
1750.000 |
2200.000 |
|
|
|
|
|
BGR MINING AND INFRA PRIVATE LIMITED
Expected Sales (2012-2013): Rs.3000.000 Millions
The above information has been parted by D Venkaram Reddy (Finance
Manager)
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 |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last two years |
Yes |
|
Profitability
for last three years |
No |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
No |
|
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 |
No |
NOTE:
The registered office address of the company
has been shifted from D No 8-2-596/R, Road No 10, Banjarahills Nearkarvey Junction,
FORM 8
|
Corporate identity
number of the company |
U45400AP2011PTC073928 |
|
Name of the
company |
BGR MINING AND INFRA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
16-II-380-B, Srinivasa Agraharam, |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
U65910TN2009PLC073914 Shriram Equipment Finance
Company Limited, Mookambika Complex, 3rd Floor, No.4, Lady
Desika Road, Mylapore, Chennai – 600004, Email: vivekmadhukar.a@stfc.in
|
|
Nature of
instrument creating charge |
Loan
Cum Hypothecation Agreements dated 31st July, 2012. |
|
Date of
instrument Creating the charge |
31.07.2012 |
|
Amount secured by
the charge |
Rs.45.500 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 14.00%p.a. Term
of Payment: 1st EMI of Rs.106179/-, 33 EMI of Rs.0.087 Million and
last i.e. 35th EMI of Rs.0.087 Million - for 15 assets and 1st EMI of
Rs.0.340 Million, 33 EMI of Rs.0.280 Million and last i.e. 35th EMI of
Rs.0.280 Million - for 1 asset. Margin 17% p.a. Margin for 15 assets and 27% p.a. Margin for 1
asset. Extent and
operation of the charge The
Charge is operative to the extent of Rs.45.500 Million |
|
Short particulars
of the property charged (Including location of the property) |
Excavator-
ZX670LCH- TELCON- for 1 asset TIPPER-
4840K- MERCEBENZ- for 15 assets |
AS PER WEB SITE DETAILS
PROFILE
Established in 1988, BGR Mining and Infra Private
Limited made its presence in the sphere of Over Burden Removal and Coal
extraction in coal mining. In all these years BGR made an impressive growth
that is hinged on its philosophy and commitment towards quality and value
addition to the client's business.
The company's financial turnover as well as mineral excavation have witnessed
tremendous growth over the years through optimum utilization of resources, cost
controlling measures, inventory management and asset up-gradation.
Over the years BGR has emerged as one of the leading
mining excavation companies in the country. The major excavation works executed
and in progress by BGR are over burden removal for coal mines, coal excavation
and extraction for all public sector enterprises like Singareni Collieries
Company Limited, subsidiaries of Coal India Limited. Repeated orders from these
reputed firms outsourcing their mining requirements to BGR are testimony for
its reliability in excavation and efficiency in operations. BGR is one of the
pioneering entrepreneurs to introduce high capacity excavator dumper
combination in
Headquartered in
BGR is now geared up to the next phase of significant growth by diversifying
into the excavation/extraction of other major minerals such as
to cater to the requirements of Steel, Aluminum, Sponge Iron and Cement
industries.
HISTORY
Apioneer in the open cast
coal mining, B. Girijapathi Reddy and Company, was established in the year
1988. The company believes in high standards of quality in professional mining
operations and it is this philosophy that has continued to foster the creation
of a strong resources group that is characterized by BGR today.
The company has the record of successfully executing several civil engineering
(irrigation) works and open cast coal mining (excavation of Over Burden and
Coal).
His visionary leadership of
more than two decades and experience in Contract Management and
Administration mining works is steering the company into the next level of
mining
ACHIEVEMENTS
BGR has executed several
Diligent planning led to
developing virgin mines into production of coal within a period of 3 to 6
months from the award of work.
Progressive mechanization and modernization of mining operation have paid rich
dividends to clients and other stakeholders. All past contracts and projects
have been delivered on time and on budget.
For the financial year ended 31st March 2010, about 62 million Cum of
over burden removal and coal extraction. For 2010-11, they are targeting
extraction and removal of 100 million Cum.
The skilled manpower and scientific business practices have been adding to the
company's productivity and reliability.
Virgin mines in Western Coal Fields Limited (Districts of Chandrapur and
OPERATIONS
The depth of their
company's expertise enhances its ability to efficiently execute operations in
excavation works. With vast experience BGR Mining and Infra Private Limited has
established a clear competitive edge over other players in the market place.
They focus on achieving operational efficiencies by taking utmost care in
handling every aspect of mine design, operations planning, equipment
maintenance which finally lead to achieving the targeted quantities well before
time and completion of projects in a time bound manner.
They are at the forefront of advanced mineral excavation technologies. They are
equipped with sophisticated and technologically advanced machinery that enables
us to excavate and develop virgin mines in a more cost-effective manner and on
schedule.
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.54.73 |
|
|
1 |
Rs.88.61 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.