MIRA
INFORM REPORT
|
Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
BHARATHI CEMENT CORPORATION PRIVATE LIMITED [w.e.f. 21.09.2010] |
|
|
|
|
Formerly Known
As : |
BHARATHI CEMENT CORPORATION LIMITED [w.e.f. 06.08.2008] RAGHURAM CEMENTS LIMITED |
|
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|
|
Registered
Office : |
8-2-626, Reliance Majestic, Road No. 10, Banjara Hills, Hyderabad –
500 034, Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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|
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Date of Incorporation
: |
12.05.1999 |
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|
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|
Com. Reg. No.: |
01-031682 |
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Capital
Investment / Paid-up Capital : |
Rs. 791.969 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26942ap1999pTc031682 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Hydr04482C |
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|
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PAN No.: [Permanent Account No.] |
Aadcr3079g |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Cements. |
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|
No. of Employees
: |
367 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 75600000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The latest financials of the company are not made available. As per
previous year’s record, there appears some accumulated losses recorded by the
company. However, net worth of the company appears good. Trade relations are
reported as fair. Payment terms are unknown. 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 |
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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 / Regional Office / Corporate Office : |
8-2-626, Reliance Majestic, Road No. 10, Banjara Hills, Hyderabad –
500 034, Andhra Pradesh, India |
|
Tel. No.: |
91-40-30006990/30006999 |
|
Fax No.: |
91-40-30006977 |
|
E-Mail : |
siva_nellai@hotmail.com vsreddy@eth.net velmurugan@sandurpower.com bnreddy@bharathicement.com |
|
Website : |
www.bharathicement.com |
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|
Regional Office 1: |
No. 8 (Old No. 10a), Tarapore Avenue, Off Hamington Road, 6th
Avenue, Chennai – 600 031 |
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Tel. No.: |
91-44-39101481 to 83 |
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Fax No.: |
91-44-39101484 |
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Regional Office 2: |
No. 56, B /34, 1st Main, Vyalikaval, Lower Palace Orchards,
Bangalore – 560 003, Karnataka, India |
|
Tel. No.: |
91-80-30518700 |
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Fax No.: |
91-80-30518711 |
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Factory : |
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Tel. No.: |
91-8563-200400/ 200411 |
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Branch Office : |
Located at: · Kadapa · Vijayawada · Tirupati · Chennai · Vellore · Salem · Coimbatore · Bangalore · Mysore · Mangalore · Bellary · Hubli · Madurai · Trichy · Cochin |
DIRECTORS
As on 16.03.2012
|
Name : |
Mrs. Yeduguri Sandinti Bharathi Reddy |
|
Designation : |
Chairperson |
|
Address : |
No 3, Huda Heights, Near Lotus Pond, Road No 12, Banjara Hills,
Hyderabad - 500 034, Andhra Pradesh, India |
|
Date of Birth/Age : |
09.12.1973 |
|
Date of Appointment : |
26.12.2010 |
|
DIN No.: |
01580536 |
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|
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|
Name : |
Mr. Jacques Marie Merceron Vicat |
|
Designation : |
Director |
|
Address : |
188 Avenue Victor Hugo, Paris, 75116, France |
|
Date of Birth/Age : |
22.03.1938 |
|
Date of Appointment : |
30.04.2010 |
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DIN No.: |
02218443 |
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|
Name : |
Mr. Guy Dominique Louis Sidos |
|
Designation : |
Director |
|
Address : |
18, Boulevard Des Belges, 69006 Lyon 06, France |
|
Date of Birth/Age : |
13.09.1963 |
|
Date of Appointment : |
30.04.2010 |
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DIN No.: |
02262974 |
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|
Name : |
Mr. Harish Channa Veerappa Kamarthy |
|
Designation : |
Whole-time director |
|
Address : |
8-2-603/2/M, Near Masjid, Road No 10, Banjara Hills, Hyderabad – 500
034, Andhra Pradesh, India |
|
Date of Birth/Age : |
27.11.1968 |
|
Date of Appointment : |
01.12.2007 |
|
DIN No.: |
01578833 |
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Name : |
Mr. Jella Jagan Mohan Reddy |
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Designation : |
Whole-time director |
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Address : |
Nadikota, Raveendra Nagar, Cuddapah - 500001, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.06.1971 |
|
Date of Appointment : |
16.01.2006 |
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DIN No.: |
00504212 |
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|
|
|
Name : |
Mr. Ravinder Reddy Madadi |
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Designation : |
Whole-time director |
|
Address : |
H No:
8-3-222/1/4, Flat No: 402, Woodswale Apatment, Madhura Nagar, Hyderabad – 500
038, Andhra Pradesh, India |
|
Date of Birth/Age : |
27.05.1961 |
|
Date of Appointment : |
01.09.2008 |
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DIN No.: |
02332339 |
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|
|
|
Name : |
Mr. Balaji Govindappa |
|
Designation : |
Whole-time director |
|
Address : |
Flat No 402,
Swarna Palace, Plot No 13 of MCH # 8-3-64, Sri Nagar Colony, Hyderabad –
500073, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
30.04.2010 |
|
DIN No.: |
02513998 |
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|
|
|
Name : |
Mr. Rodolphe Yves Revel |
|
Designation : |
Director |
|
Address : |
Rue B X5 ET6 Point E, Dakar, 000000, Senegal |
|
Date of Birth/Age : |
15.01.1973 |
|
Date of Appointment : |
30.04.2010 |
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DIN No.: |
02403278 |
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|
|
|
Name : |
Mr. Jean Ulrich Thierry Mieg |
|
Designation : |
Director |
|
Address : |
26 Rue Vignon, Paris, 75009, France |
|
Date of Birth/Age : |
21.05.1960 |
|
Date of Appointment : |
30.04.2010 |
|
DIN No.: |
02218376 |
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|
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|
Name : |
Mr. Herve Patric Joseph Ignace Marie Darondeau |
|
Designation : |
Alternate director |
|
Address : |
61, Rue Du Chemin Vert, Paris 11, 79011 |
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Date of Birth/Age : |
26.12.1970 |
|
Date of Appointment : |
19.02.2012 |
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DIN No.: |
03416578 |
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|
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|
Name : |
Mr. Anoop Kumar Saxena |
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Designation : |
Managing Director |
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Address : |
F. No : 301,
Manbhum Ganesh, 10-3-7/1, East Mareedpally, Secunderabad – 500 026, Andhra
Pradesh, India |
|
Date of Birth/Age : |
02.06.1962 |
|
Date of Appointment : |
01.01.2013 |
|
DIN No.: |
05224993 |
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|
|
|
Name : |
Mr. Gilles Hubert Jean Le Chanoine Du Manoir De Juaye |
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Designation : |
Whole-time director |
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Address : |
Villa 58, Cite Aviation Mamelles, Dakar, Senegal |
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Date of Birth/Age : |
06.07.1960 |
|
Date of Appointment : |
01.01.2013 |
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DIN No.: |
06420674 |
KEY EXECUTIVES
|
Name : |
Mr. Nageswara Reddy Bommavaram |
|
Designation : |
Secretary |
|
Address : |
Plot No 25 and
26, Balaji Swanapuri Colony, Mothi Nagar, Hyderabad – 500 018, Andhra
Pradesh, India |
|
Date of Birth/Age : |
15.08.1979 |
|
Date of Appointment : |
01.07.2011 |
|
PAN No.: |
AIIPB5795P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.03.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
YS Jagan Mohan Reddy |
|
23806435 |
|
Parficim SAS, France |
|
40390405 |
|
Silicon Builders Private Limited, India |
|
15000000 |
|
YS Bharathi Reddy |
|
9 |
|
Probal Bhadhuri |
|
10 |
|
Gyanendra Kumar |
|
10 |
|
Anuradha Mukherjee |
|
10 |
|
|
|
|
|
TOTAL |
|
79196879
|
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.00 |
|
Bodies corporate |
18.94 |
|
Directors or relatives of Directors |
30.06 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cements. |
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Products : |
|
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
Unit |
**Licensed
Capacity |
*Installed
Capacity |
Actual
Production |
|
|
|
|
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|
Cement |
Lakh Tonnes |
|
50 |
16.17 |
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|
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|
Note:
** Licensed capacity per annum not indicated due
to the abolition of Industrial Licenses as per Notification No 477 (E) dated
July 25, 1991 under the Industries (Development and Regulation) Act, 1951.
*As certified by the Management.
GENERAL INFORMATION
|
No. of Employees : |
367 (Approximately) |
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Bankers : |
·
Oriental Bank of Commerce, Jubilee Hills,
Hyderabad – 500 033, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
I.V.S. and associates Chartered Accountants |
|
Address : |
Flat No. 2, 35 – 13, Tirupathi Balaji Towers, Langford Road Cross,
Bangalore – 560 025, Karnataka, India |
|
PAN No.: |
AACFI3395Q |
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|
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Holding Company : |
Parcifim SAS, France |
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Associates/Subsidiaries : |
·
Bharathi Polymers India Private Limited, India [CIN No.: U25209AP2009PTC062486] ·
Mines and Rock Products (India) Private Limited,
India [CIN No.: U14102KA2008PTC046544] ·
Sri Manjunatha Stones Private Limited, India [CIN No.: U14102KA2008PTC046545] ·
Naren Rocks and Mines Private Limited, India [CIN No.: U14200KA2008PTC047222] |
CAPITAL STRUCTURE
As on 16.03.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
93000000 |
Equity Shares |
Rs. 10/- each |
Rs. 930.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
79196879 |
Equity Shares |
Rs. 10/- each |
Rs. 791.969
millions |
|
|
|
|
|
|
|
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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 |
791.969 |
573.553 |
557.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
500.000 |
|
|
3] Reserves & Surplus |
18748.783 |
4307.139 |
2055.300 |
|
|
4] (Accumulated Losses) |
(640.456) |
(916.237) |
0.000 |
|
|
NETWORTH |
18900.296 |
3964.455 |
3112.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
6843.171 |
3498.500 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
236.300 |
|
|
TOTAL BORROWING |
0.000 |
6843.171 |
3734.800 |
|
|
DEFERRED TAX LIABILITIES |
106.090 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19006.386 |
10807.626 |
6847.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12364.602 |
6769.985 |
313.800 |
|
|
Preoperative Expenses |
0.000 |
0.000 |
457.700 |
|
|
Capital work-in-progress |
353.933 |
2350.683 |
4819.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
731.632 |
137.700 |
164.300 |
|
|
DEFERREX TAX ASSETS |
0.000 |
61.650 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1022.157
|
289.189
|
0.000
|
|
|
Sundry Debtors |
406.079
|
83.605
|
0.000
|
|
|
Cash & Bank Balances |
4195.049
|
784.669
|
258.200
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1456.932
|
1432.324
|
1083.600
|
|
Total
Current Assets |
7080.217
|
2589.787
|
1341.800
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
391.791
|
115.252
|
206.700
|
|
|
Other Current Liabilities |
972.997
|
985.620
|
0.000
|
|
|
Provisions |
159.210
|
2.817
|
42.400
|
|
Total
Current Liabilities |
1523.998
|
1103.689
|
249.100
|
|
|
Net Current Assets |
5556.219
|
1486.098
|
1092.700
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
1.510 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19006.386 |
10807.626 |
6847.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
5882.463 |
1174.383 |
29.101 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
4873.858 |
1708.390 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1008.605 |
(534.007) |
29.101 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
132.421 |
318.511 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
876.184 |
(852.517) |
29.101 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
371.452 |
177.546 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
504.732 |
(1030.063) |
29.101 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
336.991 |
(61.644) |
10.088 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
167.741 |
(986.419) |
19.013 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
|
|
|
|
Packing materials, Fuel, stores and spares |
102.577 |
205.681 |
|
|
|
|
Capital Goods |
850.951 |
390.536 |
|
|
|
TOTAL IMPORTS |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (Rs.) |
4.35 |
(21.36) |
0.34 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.85
|
(83.99) |
65.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.59
|
(11.00) |
1.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
(0.26) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
1.72 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.64
|
2.34 |
5.38 |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
V |
|
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 |
No |
|
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 |
RESULTS OF
OPERATIONS
The operations, after commissioning of the Company’s two phases of the
project resulted in a record performance during the financial year.
The company produced 16,28,434 Mt of cement during the period under
review. Effective annualized capacity utilization was 56% of the total
installed capacity of 5.00 mtpa.
The directors wish to inform you that the company achieved a turnover of
Rs. 5612.200 millions (previous year 1150.400 millions) during the year and
recorded a net profit of 337.000 millions despite many big players being in the
market from a very long time.
Bharathi brand is now well established in the market and has gained high
degree of customer acceptance. Bharathi now commands a premium due to its focus
on quality and service, which have been the key drivers for enhancing customer
satisfaction. With MNC group, VICAT acquiring a controlling stake in the
company, the Company continues to give its customers the best possible product.
During the year, the company has outperformed the market and is emerging as a
dominant player in South India.
OUTLOOK
The demand for
cement would continue to remain strong in 2011-12 in view of continued focus on
infrastructure development and a relatively good monsoon boosting demand from
the rural segment. We expect cement demand to grow by 8-10% during the year
2011-12.
The Company
continues to further improve the performance it achieved over the last year.
The Company is envisaging exporting the product to Sri Lanka in the Current
Year 2011-12.
COMPANY OVERVIEW
The Company is a
private limited company engaged in the business of manufacture of cement. In
April, 2010 VICAT, a global player in Cement Industry based in France has
acquired a controlling stake of 51% in the Company through its subsidiary,
Parficim SAS France. Accordingly the Company has become a subsidiary of
Parficim SAS France with effect from 30.04.2010.
CONTINGENT
LIABILITY
Contingent Liability not provided for, in respect of: -
(Rs.
in millions)
|
PARTICULARS |
31.03.2011 |
|
|
|
|
Liability on letters of credit opened by bankers for purchase of
capital goods and stores and spare parts |
47.854 |
|
Liability on guarantees given by the bankers |
90.488 |
|
|
|
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Equipments
·
Vehicles.
·
Furniture and Fixtures
·
Computer Software
·
Railway Sidings
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.54.71 |
|
|
1 |
Rs.82.79 |
|
Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
39 |
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.