MIRA INFORM REPORT
|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
BHABA ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Damodar Nivas,
Behind Octroi Naka, Vishrambag, Sangli – 416415, Maharashtra |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
17.09.1980 |
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Com. Reg. No.: |
11-023137 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.192
Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U29246PN1980PTC023137 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of Media Filters. |
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|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 40980 |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Dhananjay Kulkarni |
|
Designation : |
Director |
|
Contact No.: |
91-9822283046 |
|
Date : |
29.04.2013 |
LOCATIONS
|
Registered Office : |
Damodar Nivas,
Behind Octroi Naka, Vishrambag, Sangli – 416415, Maharashtra, India |
|
Tel. No.: |
91-233-2211245 |
|
Mobile No.: |
91-9822283046 [Mr. Dhananjay] |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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|
Area : |
1000 Sq. ft |
|
Location : |
Leased |
|
|
|
|
Factory 1 : |
Plot No. 59/60, G.M. Industrial Estate, Miraj, District Sangli,
Maharashtra, India |
|
Area : |
10000 Sq. ft |
|
Location : |
Leased |
|
|
|
|
Factory 2 : |
Pandharpur Road, Tajgao Cross, Malgaon, Taluka Miraj, Sangli,
Maharashtra, India |
|
Area : |
15000 Sq. ft |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Gurunath Shankar Kulkarni |
|
Designation : |
Director |
|
Address : |
Gajanan Society, Plot No. 4, Vidyavihar Colony, V. Bag, Sangli -
416415, Maharashtra, India |
|
Date of Appointment : |
13.08.2004 |
|
DIN No.: |
01287663 |
|
|
|
|
Name : |
Mr. Dhananjay Shankarrao Kulkarni |
|
Designation : |
Director |
|
Address : |
Samadhan, 8 Warnali Road, Vishrambag, Sangli - 416415, Maharashtra,
India |
|
Date of Appointment : |
25.09.1998 |
|
DIN No.: |
02017857 |
|
|
|
|
Name : |
Mr. Bhalchandra Balkrishna Bhirangi |
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Designation : |
Director |
|
Address : |
Damodar Nivas, Vishram Bag, Sangli - 416414, Maharashtra, India |
|
Date of Appointment : |
01.10.1993 |
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DIN No.: |
02400004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bhalchandra Balkrishna
Bhirangi Joint with Gurunath
S. Kulkarni |
|
400 |
|
Shubhada
Kulkarni |
|
20 |
|
Dhananjay
Kulkarni |
|
200 |
|
Gurunath
Kulkarni |
|
50 |
|
Manisha Limaye Joint with Mr. Hemant Limaye |
|
215 |
|
Arundhati
Kumbhojkar Joint with Dhananjay
Kulkarni |
|
50 |
|
Gurunath
Kulkarni Joint with Neha
Kulkarni |
|
50 |
|
Jaii Kulkarni Joint with Dhananjay Kulkarni |
|
770 |
|
Himanshu
Gurunath Kulkarni |
|
50 |
|
Anshuman
Dhananjay Kulkarni |
|
110 |
|
|
|
|
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Total |
|
1915 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Media Filters. |
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Imports : |
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Products : |
Machinery |
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Countries : |
Ø Japan |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Ø Nyka Steels Private Limited |
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Customers : |
End Users Ø Goodyear Water
India Private Limited |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
Ø Central Bank of
India, Shri Govindrao Marathe Industrial Estate Co-operative Limited, Miraj
Sangli Road, P.O. Miraj, Sangli - 416410, Maharashtra, India Ø Axis Bank
Limited Ø The Federal Bank |
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Facilities : |
Cash Credit – Rs. 10.000 Millions [Central Bank of India]
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Harshad Asanare Chartered Accountant |
|
Address : |
B-103, Royal Green Field, Behind Collector Office, Nagala Park, Kolhapur –
416001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ADTPA3099H |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.200 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,915 |
Equity Shares |
Rs. 100/- each |
Rs. 0.192
Million |
|
|
|
|
|
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 |
0.192 |
0.192 |
0.192 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.052 |
7.719 |
6.270 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10.244 |
7.911 |
6.462 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.401 |
1.896 |
0.424 |
|
|
2] Unsecured Loans |
4.327 |
3.419 |
2.763 |
|
|
TOTAL BORROWING |
5.728 |
5.315 |
3.187 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
15.972 |
13.226 |
9.649 |
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|
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APPLICATION OF FUNDS |
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|
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|
|
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FIXED ASSETS [Net Block] |
20.013 |
16.177 |
11.722 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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INVESTMENT |
0.790 |
1.046 |
0.965 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
7.500
|
4.100 |
0.450 |
|
|
Sundry Debtors |
10.456
|
9.449 |
18.044 |
|
|
Cash & Bank Balances |
1.455
|
0.251 |
0.387 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.288
|
4.226 |
0.798 |
|
Total
Current Assets |
21.699
|
18.026 |
19.680 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
23.301
|
19.491 |
|
|
|
Other Current Liabilities |
(0.221)
|
0.000 |
|
|
|
Provisions |
3.450
|
2.532 |
|
|
Total
Current Liabilities |
26.530
|
22.023 |
22.718 |
|
|
Net Current Assets |
(4.831)
|
(3.997) |
(3.038) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15.972 |
13.226 |
9.649 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
75.000 (Approximately) |
50.000
(Approximately) |
|
|
|
Other Income |
|
N.A. |
N.A. |
|
|
|
TOTAL |
|
N.A. |
N.A. |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
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|
Office Expenses |
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|
|
|
|
|
Administrative Expenses |
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|
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Advertising Expenses |
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TOTAL |
|
N.A. |
N.A. |
|
|
|
|
|
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|
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|
PROFIT BEFORE
TAX |
|
N.A. |
N.A. |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
N.A. |
N.A. |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
N.A. |
N.A. |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
N.A. |
N.A. |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs. 160.000 Millions
The above information has been parted by Mr. Dhananjay Kulkarni
[Director]
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.56
|
0.67 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
0.82 |
0.87 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
23.301
|
19.491 |
N.A. |
|
|
|
|
|
|
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 |
Yes |
|
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 |
No |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Loans and advances from related parties |
|
|
|
B B Bhairangi |
0.123 |
0.123 |
|
M H Limye |
0.060 |
0.060 |
|
G S Kulkarni |
0.047 |
0.047 |
|
Kulkarni G S |
1.779 |
1.382 |
|
Kulkarni J D |
0.070 |
0.070 |
|
Limaye H H |
2.248 |
1.737 |
|
Total |
4.327 |
3.419 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29246PN1980PTC023137 |
|
Name of the
company |
BHABA ENGINEERING
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Damodar Nivas,
Behind Octroi Naka, Vishrambag, Sangli – 416415, Maharashtra, India Email: cs_adityakelkar@hotmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Book debts |
|
Particular of
charge holder |
Central Bank of
India, Shri Govindrao Marathe Industrial Estate Co-operative Limited, Miraj
Sangli Road, P.O. Miraj, Sangli - 416410, Maharashtra, India Email: adityaskcs@askcs.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of simple
mortgage to secure loan |
|
Date of
instrument Creating the charge |
28.03.2013 |
|
Amount secured by
the charge |
Rs.10.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.25% P.A. Terms of Repayment Twelve Months for
Cash Credit Facility and Cash Credit facility to be renewed after 12 months
of Rs.10.000 Millions Margin 20% against
Assets Charged for Cash Credit Facility of Rs.10.000 Millions Extent and Operation of the charge The Charge will
remain continue on the present and future Book Debts and stock, outstanding money
and actionable claims etc., notwithstanding there is a credit balance in the
company's account. |
|
Short particulars
of the property charged |
Plot No. 59 and
60 in the area Govindraoji Marathe Audogik Vasahat Sahakari Society Limited,
Miraj. Stock and Debtors |
TRADE REFERENCES:
Ø Goodyear Water
India Private Limited
Ø Nyka Steels Private Limited
FIXED ASSETS:
Ø Factory Building
Ø Office Equipment
Ø Furniture and
Fixture
Ø Electric Fittings
Ø Plant and
Machinery
Ø Computer
Ø Tools and
Equipments
Ø Vehicles
Ø Air Conditioner
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. 54.22 |
|
|
1 |
Rs. 84.00 |
|
Euro |
1 |
Rs. 70.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.