MIRA INFORM REPORT
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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
BALBIR PROFILES PRIVATE LIMITED |
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Registered
Office : |
Office No. 423, Nav Vyapar Bhavan, P.D. Mellow Road, Carnac Bunder,
Masjid (East), Mumbai - 400009, |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
03.11.1999 |
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Com. Reg. No.: |
11-122521 |
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Capital
Investment / Paid-up Capital : |
Rs.15.000 Millions |
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CIN No.: [Company Identification
No.] |
U29142MH1999PTC122521 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB08250E |
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PAN No.: [Permanent Account No.] |
AABCB1712E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of M.S. Ingot. |
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No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 310000 |
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Status : |
Satisfactory |
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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 conditions. |
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. Ajay |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-32403626 |
|
Date : |
02.05.2013 |
LOCATIONS
|
Registered Office : |
Office No. 423, Nav Vyapar Bhavan, P.D. Mellow Road, Carnac Bunder,
Masjid (East), Mumbai - 400009, Maharashtra, India |
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Tel. No.: |
91-22-32403626 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
153/2/2/1, Village Dapada, Silvassa – 396230, Union Territory Dadra and Nagar Haveli |
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Tel. No.: |
91-260-2699151 |
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Branch : |
207, Steel Centre, Carnac Bunder, |
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Tel. No.: |
91-22-23482260/ 23423688 |
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Fax No.: |
91-22-66333717 |
DIRECTORS
As on: 24.09.2012
|
Name : |
Mr. Rakesh Kumar Sharma |
|
Designation : |
Director |
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Address : |
C – 14/ 103, Madhav Shrusti, Near Godrej Hill, Kalyan, Thane – 421301,
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Date of Birth/Age : |
06.09.1951 |
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Date of Appointment : |
19.03.2007 |
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DIN No.: |
01545079 |
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Name : |
Mr. Vikas Bhushan |
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Designation : |
Director |
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Address : |
901, |
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Date of Birth/Age : |
04.07.1969 |
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Date of Appointment : |
03.01.2011 |
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DIN No.: |
00144455 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 24.09.2012
|
Category |
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Percentage |
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Bodies corporate |
|
92.00 |
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Directors or relatives of directors |
|
5.99 |
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Other top fifty shareholders |
|
2.01 |
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of M.S. Ingot. |
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Products : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
South Africa |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity (TPA) |
|
Mild Steel Ingots |
NA |
18000.000 |
|
Particulars |
|
Actual
Production (MT) |
|
Mild Steel Ingots |
|
17813.280 |
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Runner and Risers |
|
532.370 |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
45 (Approximately) |
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Bankers : |
Tel. No.: 91-22-22882616
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Facilities : |
(Rs.
In Millions)
Note: Working capital loans banks are secured against mortgage of factory land,
buildings, plant and machinery and investment property of the company and
hypothecation of present and future stock of raw materials, stock-in-process,
finished goods, stores and spares, book debts and receivable etc. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kamal Kumar and Associates Chartered Accountants |
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Address : |
M - 2, Balarama, Plot No. C – 3, E Block, Bandra Kurla, Bandra (East),
Mumbai – 400051, |
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Tel. No.: |
91-22-32504373 |
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E-Mail : |
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PAN No.: |
AAXPK6869J |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
15.000 |
15.000 |
12.744 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
64.316 |
59.826 |
52.090 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
79.316 |
74.826 |
64.834 |
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LOAN FUNDS |
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1] Secured Loans |
31.808 |
40.954 |
29.387 |
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2] Unsecured Loans |
9.108 |
0.000 |
0.000 |
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TOTAL BORROWING |
40.916 |
40.954 |
29.387 |
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DEFERRED TAX LIABILITIES |
1.677 |
1.820 |
1.967 |
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TOTAL |
121.909 |
117.600 |
96.188 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.301 |
13.933 |
14.385 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
13.513 |
13.513 |
11.901 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
36.767
|
48.478 |
40.984 |
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Sundry Debtors |
28.018
|
8.805 |
6.165 |
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Cash & Bank Balances |
3.437
|
13.883 |
15.576 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
40.066
|
31.017 |
21.249 |
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Total
Current Assets |
108.288
|
102.183 |
83.974 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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|
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Sundry Creditors |
7.234
|
5.295 |
5.434 |
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Other Current Liabilities |
7.750
|
6.168 |
3.469 |
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Provisions |
0.209
|
0.566 |
5.169 |
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Total
Current Liabilities |
15.193
|
12.029 |
14.072 |
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Net Current Assets |
93.095
|
90.154 |
69.902 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
121.909 |
117.600 |
96.188 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
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Other Income |
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TOTAL |
623.262 |
518.942 |
408.524 |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
610.904 |
501.814 |
391.671 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
12.358 |
17.128 |
16.853 |
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FINANCIAL
EXPENSES |
4.485 |
3.260 |
1.577 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.873 |
13.868 |
15.276 |
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DEPRECIATION/
AMORTISATION |
1.709 |
1.593 |
1.573 |
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PROFIT BEFORE
TAX |
6.163 |
12.275 |
13.703 |
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|
TAX |
1.673 |
4.538 |
5.879 |
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PRIOR PERIOD AND
EXTRAORDINARY ITEMS |
0.000 |
0.000 |
0.058 |
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PROFIT AFTER TAX
|
4.490 |
7.737 |
7.766 |
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PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.056 |
36.320 |
28.554 |
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BALANCE CARRIED
TO THE B/S |
48.546 |
44.056 |
36.320 |
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IMPORTS |
|
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|
Scrap and Sponge Iron |
116.113 |
123.646 |
135.067 |
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TOTAL IMPORTS |
116.113 |
123.646 |
135.067 |
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Earnings Per
Share (Rs.) |
2.99 |
5.16 |
6.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.72 |
1.49
|
1.90 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.99 |
10.57
|
13.93 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.16
|
0.21 |
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Debt Equity Ratio (Total Debt/Networth) |
|
0.52 |
0.55
|
0.45 |
|
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Current Ratio (Current Asset/Current Liability) |
|
7.13 |
8.49
|
5.97 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
|
|
|
|
Acceptance |
--
|
-- |
|
|
Other than
Acceptance |
7.234
|
5.295 |
|
|
|
|
|
|
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Total |
7.234
|
5.295 |
5.434 |
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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 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 |
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 |
NOTE:
The registered office of the company has been shifted from 8 Shiv Darshan, 33rd Road, 15th Road Corner, Bandra (West), Mumbai – 400050, Maharashtra, India to the present address w.e.f. 01.03.2012.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Foreign Currency Loan – Buyer’s Credit |
9.108 |
0.000 |
|
|
|
|
|
Total |
9.108 |
0.000 |
PERFORMANCE
The company has achieved a turnover of
Rs.623.262 Millions during the year against the previous year turnover of Rs.518.942
Millions and earned profit after tax of Rs.4.490 Millions during the year,
against the profit after tax of Rs.7.737 Millions during the previous year.
CONTINGENT LIABILITIES NOT PROVIDED FOR
(Rs. In Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
|
i) Guarantees |
|
|
|
a) Guarantees issue in favour of banks in
respect of credit facilities granted to other body corporate |
0.000 |
207.790 |
|
Balance outstanding covered by (a) |
0.000 |
(183.411) |
|
b) Counter guarantees given to banks against
guarantees issued by the banks on behalf of the company |
6.125 |
6.125 |
|
ii) Claim not acknowledged by the company |
|
|
|
a) Central Excise Duty. Penalty and Interest
|
33.307 |
0.000 |
|
Under protest and on accounts deposited
subject to adjudication by the appropriate authorities (shown under balance
with Government Authorities) |
(0.641) |
0.000 |
FIXED ASSETS:
- Land
- Plant and Machinery
- Electric Installations
- Other Plant and Machinery
- Office Furniture
- Office Equipments
- Computer System and Software
- Vehicles
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.53.95 |
|
|
1 |
Rs.83.81 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
4 |
|
--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 |
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 |
|
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.