|
Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BHATIA ACID PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
855, Welcome
House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.09.1997 |
|
|
|
|
Com. Reg. No.: |
55-089875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.480
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51496DL1997PTC089875 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB04108G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier of Acids, Industrial Chemicals and Solvents. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 33000 |
|
|
|
|
Status : |
oderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. Profitability
of the company appears to be low. The external borrowing of the company is
huge. However, trade relations are reported to be 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.
LOCATIONS
|
Registered Office : |
855, Welcome
House, |
|
Tel. No.: |
91-11-22828551 |
|
Fax No.: |
91-11-22825815 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Hitesh Hariender Bhatia |
|
Designation : |
Director |
|
Address : |
23, Vigyan Lok, |
|
Date of Birth/Age : |
09.09.1977 |
|
Date of Appointment : |
16.12.1999 |
|
DIN No.: |
00584862 |
|
|
|
|
Name : |
Ms. Anita Hariender Bhatia |
|
Designation : |
Director |
|
Address : |
23, Vigyan Lok, |
|
Date of Birth/Age : |
31.10.1954 |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
00584904 |
|
|
|
|
Name : |
Mr. Hariender Kumar Bhatia |
|
Designation : |
Director |
|
Address : |
23, Vigyan Lok, |
|
Date of Birth/Age : |
14.09.1952 |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
00584947 |
|
|
|
|
Name : |
Ms. Ruchika Bhatia |
|
Designation : |
Director |
|
Address : |
23, Vigyan Lok, |
|
Date of Birth/Age : |
26.07.1981 |
|
Date of Appointment : |
16.12.1999 |
|
DIN No.: |
00602172 |
|
|
|
|
Name : |
Mr. Kapil Hariender Bhatia |
|
Designation : |
Director |
|
Address : |
23, Vigyan Lok, |
|
Date of Birth/Age : |
17.10.1984 |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
00602203 |
|
|
|
|
Name : |
Ms. Priyanka Bhatia |
|
Designation : |
Director |
|
Address : |
23, Vigyan Lok, |
|
Date of Birth/Age : |
04.04.1985 |
|
Date of Appointment : |
28.08.2008 |
|
DIN No.: |
02281451 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hariender Kumar Bhatia |
|
21010 |
|
Anita Bhatia |
|
67500 |
|
Hitesh Bhatia |
|
97510 |
|
Kapil Bhatia |
|
22000 |
|
Ruchika Bhatia |
|
20000 |
|
Priyanka Bhatia |
|
20000 |
|
Total |
|
248020 |
As on 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Acids, Industrial Chemicals and Solvents. |
|
|
|
|
Products : |
Acids v Acetic Acid v Formic Acid v Hydrochloric Acid v Nitric Acid v Oxalic Acid v Phosphoric Acid v Sulphuric Acid
Industrial Chemicals v Aluminium Chloride v Aluminium Hydroxide v Calcium Chloride v Caustic Soda - Flakes v Caustic Soda - Lye v Caustic Soda - Prills v Caustic Soda - Solid v Ferric Chloride v Hydrogen Peroxide v Poly Aluminium Chloride v Soda Ash - Dense v Soda Ash - Light
Solvents v Chloroform v Methylene Chloride v Tri Chloro Ethylene |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
v Syndicate Bank,
Super Bazar Branch, v
HDFC Bank Limited v American Express Bank |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
N. Mittal and Company Chartered Accountants |
|
Address : |
R. No.217, Munish Plaza, 20, Ansari Road, Opposite Fire Station,
Daryaganj, Delhi – 110 002, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGPM8835M |
CAPITAL STRUCTURE
As on 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
248020 |
Equity Shares |
Rs.10/- each |
Rs.2.480
millions |
|
|
|
|
|
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 |
2.480 |
0.480 |
0.480 |
|
|
2] Share Application Money |
0.000 |
1.000 |
1.000 |
|
|
3] Reserves & Surplus |
5.818 |
5.679 |
5.405 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.298 |
7.159 |
6.885 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.444 |
16.062 |
16.570 |
|
|
2] Unsecured Loans |
20.747 |
18.811 |
13.943 |
|
|
TOTAL BORROWING |
48.191 |
34.873 |
30.513 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
56.489 |
42.032 |
37.398 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
21.699 |
16.517 |
14.818 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.898
|
0.727 |
0.236 |
|
|
Sundry Debtors |
40.544
|
31.960 |
28.285 |
|
|
Cash & Bank Balances |
0.944
|
1.999 |
0.096 |
|
|
Other Current Assets |
1.715
|
1.431 |
0.785 |
|
|
Loans & Advances |
3.424
|
3.131 |
3.762 |
|
Total
Current Assets |
47.525
|
39.248 |
33.164 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.361
|
12.662 |
8.840 |
|
|
Other Current Liabilities |
0.374
|
1.071 |
1.744 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
12.735
|
13.733 |
10.584 |
|
|
Net Current Assets |
34.790
|
25.515 |
22.580 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
56.489 |
42.032 |
37.398 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Account |
145.550 |
128.860 |
107.723 |
|
|
|
Direct Incomes |
13.772 |
6.252 |
6.216 |
|
|
|
Other Income |
1.477 |
1.395 |
0.649 |
|
|
|
TOTAL (A) |
160.799 |
136.507 |
114.588 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Good Sold |
141.662 |
120.830 |
99.795 |
|
|
|
Salaries, Wages & Amenities |
4.247 |
4.090 |
4.966 |
|
|
|
Administrative Expenses |
5.261 |
4.123 |
3.516 |
|
|
|
Selling & Distribution Expenses |
1.241 |
0.805 |
0.582 |
|
|
|
TOTAL (B) |
152.411 |
129.848 |
108.859 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.388 |
6.659 |
5.729 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.561 |
3.640 |
2.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.827 |
3.019 |
2.746 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.523 |
2.746 |
2.502 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.304 |
0.273 |
0.244 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.164 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.140 |
0.273 |
0.244 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
5.678 |
5.405 |
5.161 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.818 |
5.678 |
5.405 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.56 |
5.69 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.09
|
0.20 |
0.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.21
|
0.21 |
0.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.44
|
0.49 |
0.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.04 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.34
|
6.79 |
5.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.73
|
2.86 |
3.13 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
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 |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
OPERATIONAL RESULT:
During the year the company has received total sales of Rs.145.550
millions and achieved a net profit of Rs.0.304 million.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51496DL1997PTC089875 |
|
Name of the company
|
BHATIA ACID PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
855, Welcome
House, E-Mail: delhinmc@yahoo.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80005996 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Others (Stocks, Book
Debts, Counter Guarantee) |
|
Particular of
charge holder |
Syndicate Bank,
Super Bazar Branch, E-Mail: coplan@syndicatebank.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
Composite
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
13.02.2012 |
|
Amount secured by
the charge |
Rs.25.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: ROI/commission as
per rules and bank norms Terms of
Repayment: As per sanction
terms and bank norms Margin: As per sanction
terms and bank norms Extent and Operation
of the charge: First Charge on
assets is to secure the SODH limit of Rs.25.000 millions with sublimit-bill
discounting limit of Rs.2.500 millions sanctioned to the company |
|
Short particulars
of the property charged |
Hypothecation of book
debts/receivables and stocks of various types of chemicals lying at 6/9272,
Multani Dhanda Pahar Ganj, New Delhi 110055 and Welcome House, 855 G.T. Road,
Seelampur, Delhi 110053 For sublimit-bill
discounting limit: Bills backed by LC (tenor 90 days) Collateral
Security: Urem of factory land bearing Plot No.51 area measuring 1047.80 sq.
mtrs. situated at Anand Industrial Estate, |
|
Date of latest
modification prior to the present modification |
12.12.2008 |
|
Particulars of
the present modification |
SODH limit is
increased to Rs.25.000 millions with sublimit-bill discounting-backed by LC
of Prime Bank Rs.2.500 millions. Other terms and conditions remain same. |
FIXED ASSETS:
v Air Conditioner
v Car
v Mobile Phone
v Cellular Phone
v Motor Cycle
v Printer
v Scooter
v Tanker
v Computer
v Laptop
v UPS System
v Furniture & Fixture
v LCD TV
v Office Equipments
v Coffee Vending Machine
v Note Counting Machine
v
Video Game
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 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.54.41 |
|
|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
33 |
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.