MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

B E C CHEMICALS PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

120 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Bulk Drugs and Intermediates for the Pharmaceutical Industry.

 

 

Exports :

 

Products :

·         Bulk Drugs

·         Intermediates

Countries :

European Countries

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash and Advance Payment

 

 

Purchasing :

Cash and Advance Payment

 

 

PRODUCTION STATUS [AS ON 31.03.2013]

 

Particulars

Licensed Capacity

Installed Capacity

Bulk Drugs/Drug

275 MT

275 MT

 

 

PRODUCTION:

 

Particular

Production

Kgs.

Bulk Drugs

81355

Drug Intermediates/Others

155561

 

 

GENERAL INFORMATION

 

Customers :

Retailers, End Users

 

 

No. of Employees :

120 (Approximately)

 

 

Bankers :

·         Union Bank of India, Overseas Branch, Union Bank Bhavan, Ground Floor, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400021, Maharashtra, India

·         Bank of Maharashtra, B.S. Marg Branch, Fort, Mumbai – 400001, Maharashtra, India

 

 

Facilities :

SECURED LOAN

As on 31.03.2013

[Rs. in Millions]

As on 31.03.2012

[Rs. in Millions]

Long Term Borrowings

 

 

Term Loans/Foreign Currency Term Loan

30.000

2.786

 

 

 

Short Term Borrowings

 

 

Packing Credit

20.617

13.316

Export Bill Discounted and Importer L/cs’ Due Against Personal Guarantee of Director

100.844

35.801

 

 

 

TOTAL

151.461

51.903

 

 

UNSECURED LOAN

As on 31.03.2013

[Rs. in Millions]

As on 31.03.2012

[Rs. in Millions]

Long Term Borrowings

 

 

Long Term

44.000

44.000

 

 

 

TOTAL

44.000

44.000

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Pankaj B. Mehta and Company

Chartered Accountants

Address :

56, Janmabhoomi Marg, (Ghoga Street), 3rd Floor, Fort, Mumbai-400001, Maharashtra, India

Tel. No.:

91-22-22025435

PAN No:

AAAPM7644J

 

 

Cost Auditors :

 

Name :

Hemant V. Shah

Chartered Accountants

Address :

373, 1st Floor, Sailor Building, Dr. D.N. Road, Fort, Mumbai-400001, Maharashtra, India

 

 

Other Related Parties :

·         IBI Chematur (Engg. And Con’y) Limited

·         IBIC Engineering

·         Indo Berolina Industries Private Limited

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 13.09.2013

 

Names of Shareholders

 

 

No. of Shares

BEC Industrial Investment Company Private Limited, India

 

83000

Indo Berolina Industries Private Limited, India

 

5000

BID Machines Private Limited, India

 

2000

 

 

 

TOTAL

 

90000

 

 

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

9.000

9.000

9.000

(b) Reserves & Surplus

106.843

87.091

71.668

(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)

115.843

96.091

80.668

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

74.000

46.786

48.303

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.200

2.700

(d) long-term provisions

7.369

6.886

6.539

Total Non-current Liabilities (3)

81.369

53.872

57.542

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

121.461

49.117

59.315

(b) Trade payables

14.827

13.617

12.344

(c) Other current liabilities

20.331

18.497

6.435

(d) Short-term provisions

29.969

22.769

13.049

Total Current Liabilities (4)

186.588

104.000

91.143

 

 

 

 

TOTAL

383.800

253.963

229.353

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

156.347

115.214

88.885

(ii) Intangible Assets

0.012

0.012

0.012

(iii) Capital work-in-progress

0.056

0.353

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

5.093

5.093

6.093

(c) Deferred tax assets (net)

0.844

0.452

0.547

(d) Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

162.352

121.124

95.537

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

47.052

33.552

49.355

(c) Trade receivables

112.817

55.975

45.496

(d) Cash and cash equivalents

8.720

8.940

20.208

(e) Short-term loans and advances

52.859

34.372

18.753

(f) Other current assets

0.000

0.000

0.000

(g) Miscellaneous expenditure 

0.000

0.000

0.004

Total Current Assets

221.448

132.839

133.816

 

 

 

 

TOTAL

383.800

253.963

229.353

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

411.547

327.782

 

 

Other Income

0.704

1.704

 

 

 

TOTAL                                     (A)

412.251

329.486

237.232

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

238.190

183.392

 

 

Employee Benefits Expenses

41.322

31.140

 

 

 

Other Direct Manufacturing Expenses

31.905

27.901

190.341

 

 

Loss on Sale of Fixed Assets

0.000

0.055

 

 

 

Other Expenses

59.005

45.272

 

 

 

Exceptional Items

3.623

0.000

 

 

 

Change in Inventories of Finished Goods and Work in Progress

(3.967)

1.286

 

 

 

TOTAL                                     (B)

370.078

289.046

190.341

Including Financial Expenses

 

 

 

 

 

Less

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

42.173

40.440

 

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

2.407

2.009

 

 

 

 

 

 

 

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

39.766

38.431

46.891

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

11.902

12.145

9.937

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                (G)

27.864

26.286

36.954

 

 

 

 

 

Less

TAX                                                                  (H)

7.200

9.180

12.000

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

20.664

17.086

24.954

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

41.830

36.210

21.160

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

2.500

2.728

2.562

 

 

Proposed Dividend

1.350

1.350

0.900

 

 

Transfer to Bond Redemption Reserve

6.734

6.734

6.734

 

 

Transfer to Premium on Bond Redemption Reserve

0.340

0.340

0.340

 

 

Deferred Tax

(0.392)

0.095

(0.464)

 

 

Short Provision of Earlier Year Expenses

(0.265)

0.000

(0.317)

 

 

Tax on Dividend Distribution

0.219

0.219

0.149

 

BALANCE CARRIED TO THE B/S

52.008

41.830

36.210

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Exports Sales (FOB)

326.968

257.593

195.256

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

166.890

105.389

91.890

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

229.60

189.85

277.26

 

 

PERFORMANCE REVIEW:

 

During the year, the company has achieved total turnover of Rs.411.548 millions (previous year Rs.327.783 millions), which includes export sales of Rs.368.815 millions (previous year Rs.257.592 millions) registered an increase of 43% over the previous year. During the year, the company has recorded domestic sales of Rs.42.732 millions (previous year Rs.70.189 millions). The reduction in domestic turnover was primarily due to slow down in consumption of Ketoprofen in domestic market.

 

The year indicated a consolidated profit before tax and depreciation at Rs.39.766 millions as against Rs.38.431 millions previous year. The decrease in net profit ratio is primarily due to increase in input cost of raw materials, utilities, repairs and maintenance of plant, majorly due to cost attributed towards major repairs and overall up gradation of manufacturing facilities and infrastructure at site in view of EDQM inspection that look took place in October 12 and few other foreign customer audits.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

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

 

 

LOCATIONS

 

Registered Office :

Victoria Building, 1st Floor, S.A. Brevly Road, Fort, Mumbai-400001, Maharashtra, India 

Tel. No.:

91-22-28505152

Fax No.:

91-22-28503153

E-Mail :

post@becchemicals.com

meghashah@becchemicals.com

Website :

http://www.becchemicals.com

 

 

Head / Administrative Office :

S-86, IBI House, Andheri Kurla Road, Marol Naka, Chimat Pada, Andheri (East), Mumbai-400059, Maharashtra, India

 

 

Factory :

Plot No. 24, MIDC Dhatav Roha, District Raigad-402116, Maharashtra, India

Tel No.:

91-219-4263552

 

 

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