MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

BAHETI METAL AND FERRO ALLOYS LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMB00015B

 

 

PAN No.:

[Permanent Account No.]

AAACB4626L

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

No. of Employees :

250 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Metals and Ferro Alloys.

 

 

Products/ Services :

ITC Code No.

 

Product Descriptions

7202

Ferro Alloys

7601

Aluminum Articles

 

·         Aluminium Notch Bars

·         Aluminium Cubes

·         Aluminium Shots

·         Aluminium Ingots

·         Aluminium Alloy Ingots

·         Zinc Aluminium Alloy Ingots

·         Ferro Aluminium (Chips/Lumps)

·         Medium Carbon Ferro Manganese

·          Low Carbon Ferro Manganese, etc.

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Korea

·         Middle East

 

 

Imports :

 

Products :

Raw Materials

Countries :

·         Middle East

·         African Countries

·         Europe

·         USA

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Customers :

Retailers and End Users

 

 

No. of Employees :

250 (Approximately)

 

 

Bankers :

·         The Federal Bank Limited, Opposite City Gold Cinema, Ashram Road, Ahmedabad - 380009, Gujarat, India

 

·         State Bank of India, Off Site Ahmedabad, Mid Corporate Group, Overseas Branch, Navjivan Post Office, Ahmedabad - 380014, Gujarat, India

 

·         State Bank of India, Gvmsav Limited, Odhav Branch, Odhav, Ahmedabad - 382415, Gujarat, India

 

 

Facilities :

 

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Term Loans

From banks */**

12.757

15.957

SHORT TERM BORROWINGS

 

 

Working Capital Loan from Banks 

110.934

117.405

 

 

 

Total

123.691

133.362

 

LONG-TERM BORROWINGS

 

* Secured against the property and personal guarantee of directors.

** Secured against the vehicles of the company.

 

SHORT TERM BORROWINGS

 

·         Working Capital Loans are secured by a first charge by way of hypothecation in favour of banks on the company’s current assets, stocks and receivables, both present and future, ranking pari passu inter se, the banks relating to the respective facility.

 

·         Working capital loans are secured by a first charge by way of movable and immovable property of the company in favour of banks, both present and future, ranking pari passu inter se, the banks relating to the respective facility.  

 

 

UNSECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Other Loans and advances

11.703

27.207

 

 

 

Total

11.703

27.207

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Wadhawan and Company

Chartered Accountants

Address :

703, Sarap Building, Opposite Navjivan Press, Navjivan, Ahmedabad – 380009, Gujarat, India

Income-tax PAN of auditor or auditor's firm :

AAAFW9683R

 

 

Related Party :

Yesh Metal Private Limited

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

 

No. of Shares

 

Shankerlal Bansilal Shah

 

2120171

Kshitish Madanmohan Shah

 

125

Bansilal Gordhanlal Shah

 

125

Savitaben Shankerlal Shah

 

289907

Jamnalal Maliwal

 

125

Shankerlal B. Shah

Savitaben S. Shah

 

11262

Rupalben B. Shah

Shankerlal B. Shah

 

98182

Savitaben Shah

Shankerlal B. Shah

 

2500

Minor Yash S. Shah

 

97448

Yash Metals Private Limited, India

 

884882

Balkrishan S. Shah

 

95909

Shankerlal G. Bahedia

 

250

Shankerlal B. Shah

 

13588

Shankerlal B. Shah

 

2500

Shankerlal B. Shah HUF

 

133026

 

 

 

Total

 

 

3750000

 

 

AS ON 30.09.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

24.00

Directors or relatives of directors

76.00

 

 

Total

 

100.00

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

37.500

37.500

37.500

(b) Reserves & Surplus

47.267

44.088

41.541

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

84.767

81.588

79.041

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

24.460

43.164

139.178

(b) Deferred tax liabilities (Net)

3.862

3.797

3.581

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

28.322

46.961

142.759

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

110.934

117.405

0.000

(b) Trade payables

0.709

1.632

0.000

(c) Other current liabilities

1.351

0.247

1.615

(d) Short-term provisions

4.200

2.966

7.683

Total Current Liabilities (4)

117.194

122.250

9.298

 

 

 

 

TOTAL

230.283

250.799

231.098

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

36.150

38.202

29.166

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.425

0.425

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

15.445

3.880

1.237

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

52.020

42.507

30.403

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.425

(b) Inventories

71.944

98.778

59.127

(c) Trade receivables

85.936

96.040

95.442

(d) Cash and cash equivalents

7.114

2.330

0.502

(e) Short-term loans and advances

12.712

10.252

40.718

(f) Other current assets

0.557

0.892

4.481

Total Current Assets

178.263

208.292

200.695

 

 

 

 

TOTAL

230.283

250.799

231.098

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

790.712

719.710

782.022

 

 

Other Income

2.171

1.591

3.129

 

 

TOTAL                                     (A)

792.883

721.301

785.151

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

749.932

665.026

651.079

 

 

Excise Duty Paid

0.000

0.000

73.604

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(16.407)

0.080

1.365

 

 

Employees benefits expense

5.335

4.843

4.911

 

 

Other expenses

24.882

26.665

26.285

 

 

TOTAL                                     (B)

763.742

696.614

757.244

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

29.141

24.687

27.907

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

21.692

18.473

15.905

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

7.449

6.214

12.002

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

2.779

2.451

2.145

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

4.670

3.763

9.857

 

 

 

 

 

Less

TAX                                                                  (H)

1.491

1.216

2.872

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

3.179

2.547

6.985

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.85

0.68

1.86

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

800.000

 

 

 

 

 

 

The above information has been parted by Mr. Maliwal (Commercial Incharge)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

LOCATIONS

 

Registered Office :

A/2/3, L R Apartment, Opposite Police Commissioner Office, Shahibaug, Ahmedabad – 380004, Gujarat, India

Tel. No.:

91-79-25627681/ 25627682/ 22870213/ 25621091

Mobile No.:

91-9879106332 [Mr. Maliwal]

Fax No.:

91-79-25627683

E-Mail :

bmfalsb@hotmail.com

bahetimetal@gmail.com

dmfalsh@hotmail.com

Website :

www.bahetimetal.com  

Area :

900 Sq. Ft

Location :

Owned

 

 

Corporate Office/ Factory 1:

311, GVMSA Limited, Odhav Road, Ahmedabad – 382415, Gujarat, India

Location :

Owned

 

 

Factory 2:

196 and 197, Shreenath Industrial Estate, Post Sampa, Dehgam, Gandhi Nagar, Ahmedabad, Gujarat, India

Location :

Owned

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.