MIRA INFORM REPORT
|
Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
BAJAJ BEARINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B/01, Mercury, Jupiter Mercury C.H.S. Limited, Poonam Sagar Complex,
Opposite Sector-9, Mira Road (East), District.- Thane, Mira Road, Mira
Bhayandar – 401107, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.08.1996 |
|
|
|
|
Com. Reg. No.: |
11-101531 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130MH1996PTC101531 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Bearings and Allied Activities. |
|
|
|
|
No. of Employees
: |
64 (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 5800 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. Profit and Loss statement as on 2012 is not made available to us. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small and mediocre business dealings
with great 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Shailesh T. Lall |
|
Designation : |
Director |
|
Contact No.: |
91-9821418129 |
|
Date : |
13.06.2013 |
LOCATIONS
|
Registered Office : |
B/01, Mercury, Jupiter Mercury C.H.S. Limited, Poonam Sagar Complex,
Opposite Sector-9, Mira Road (East), District.- Thane, Mira Road, Mira
Bhayandar – 401107, Maharashtra India |
|
Tel. No.: |
91-22-28125621 |
|
Mobile No.: |
91-9821418129 (Mr. Shailesh T. Lall |
|
Fax No.: |
91-22-28132262 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No.20/3, Plot No.11, SIDC, Main Road, Veraval (Shaper),
District Rajkot – 363524, Gujarat, India |
|
Location : |
Owned |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Shailesh Ttibhovandas Lall |
|
Designation : |
Director |
|
Address : |
101 B-7. Archana Jyoti CHS Sector – 11, Shanti Nagar, Mira Road (East)
Thane – 401107 Maharashtra, India |
|
Date of Birth/Age : |
25.07.1967 |
|
Date of Appointment : |
01.08.1996 |
|
DIN No.: |
00438176 |
|
|
|
|
Name : |
Mrs. Anita Shailesh Lall |
|
Designation : |
Director |
|
Address : |
101 B-7. Archana Jyoti CHS Sector – 11, Shanti Nagar, Mira Road (East)
Thane – 401107 Maharashtra, India |
|
Date of Birth/Age : |
20.01.1968 |
|
Date of Appointment : |
01.09.1998 |
|
DIN No.: |
00438065 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Anita Shailesh Lall |
|
5000 |
|
Shailesh Ttibhovandas Lall |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Bearings. |
|
|
|
|
Products : |
·
Taper
Roller Bearings ·
Angular
Contact Ball Bearings ·
Thrust
Ball Bearings ·
Self
Aligning Ball Bearings ·
Cylindrical
Roller Bearing ·
Water
Pump Bearing ·
Adapter
Sleeve Bearing ·
Deep
Groove Ball Bearings ·
Propeller
Shaft Bearing ·
Needle
Roller Bearing ·
Volvo
Bearings ·
Fork
Lift ·
Scania
Bearings ·
Mercedes
Bearing ·
Truck
Bearing. |
|
|
|
|
Exports : |
|
|
Products : |
Bearings |
|
Countries : |
· Sri Lanka · Bangladesh · Canada · Dubai · Belgium · Brazil · Australia · UK · USA |
|
|
|
|
Terms : |
|
|
Purchasing : |
L/C and Cash |
GENERAL INFORMATION
|
Suppliers : |
· Adept Logistics ·
Aim Bearing Company |
|
|
|
|
Customers : |
Wholesalers, End Users and OEM’s |
|
|
|
|
No. of Employees : |
64 (Approximately) |
|
|
|
|
Bankers : |
· Canara Bank, Mandvi Branch |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. B. Vayeda and Company Chartered Accountant |
|
Address : |
12, Kesar Kunj, V. L. Road, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
|
PAN No.: |
AABPV5852E |
|
|
|
|
Memberships : |
·
EEPC ·
All India
World Bearing Association |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND
LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
1.000 |
1.000 |
|
(b) Reserves & Surplus |
|
0.440 |
0.431 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
1.440 |
1.431 |
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current
liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.946 |
1.675 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
3.875 |
2.168 |
|
(c) Other
current liabilities |
|
0.262 |
0.315 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
TOTAL |
|
6.523 |
5.589 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1.899 |
2.277 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.050 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1.173 |
1.139 |
|
(c) Trade
receivables |
|
3.165 |
1.285 |
|
(d) Cash
and cash equivalents |
|
0.043 |
0.000 |
|
(e)
Short-term loans and advances |
|
0.193 |
0.888 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
6.523 |
5.589 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.419 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.419 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
1.256 |
|
|
TOTAL BORROWING |
|
|
1.256 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.675 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.718 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2.213 |
|
|
Sundry Debtors |
|
|
3.343 |
|
|
Cash & Bank Balances |
|
|
0.221 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.024 |
|
Total
Current Assets |
|
|
5.801 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
5.164 |
|
|
Other Current Liabilities |
|
|
0.659 |
|
|
Provisions |
|
|
0.021 |
|
Total
Current Liabilities |
|
|
5.844 |
|
|
Net Current Assets |
|
|
(0.043) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.675 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
18.949 |
9.748 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, Administrative and Other Expenses |
|
18.437 |
9.357 |
|
|
|
TOTAL |
|
18.437 |
9.357 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.512 |
0.391 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.475 |
0.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
0.037 |
0.102 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.023 |
0.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
0.014 |
0.081 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
1.43 |
8.09 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
68.000 |
|
|
|
|
|
Expected Sales (2013-14): Rs.90.000 Millions
The above information has been parted by Mr. Shailesh T. Lall.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
0.07 |
0.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
0.66 |
1.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.03 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.66
|
1.17 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.33 |
0.99 |
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 two years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
|
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 |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
From Directors, Shareholders and Others (Mr. Shailesh T. Lall) |
0.946 |
1.675 |
|
|
|
|
|
Total |
0.946 |
1.675 |
TRADE REFERENCE:
· Adept Logistics
· Aim Bearing Company
FIXED ASSETS:
· Air Conditioner
· Fax Machine
· Computer
· Machinery
· Office Fixture
· Mobile Handsets
· Telephone Instrument
· Furniture
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.58.45 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.