MIRA
INFORM REPORT
|
Report No. : |
315985 |
|
Report Date : |
03.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BS LIMITED (w.e.f.18.10.2012) |
|
|
|
|
Formerly Known
As : |
BS TRANSCOMM LIMITED (w.e.f. 07.02.2008) B.S. STEELS AND MINERALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8-2-269/10, No. 504, 5th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.01.2004 |
|
|
|
|
Com. Reg. No.: |
01-042375 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.439.017
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27109AP2004PLC042375 |
|
|
|
|
IEC No.: |
Not Availble |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDB02125E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB3170F |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Telecom and Transmission related Towers. |
|
|
|
|
No. of Employees
: |
778 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
company having satisfactory track record. The rating reflects company
sound financial risk profile marked by healthy net worth position and decent
profitability of the company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually
correct. 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
21.08.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
21.08.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Rakesh |
|
Designation : |
Account Banking |
|
Contact No.: |
91-40-66546120 |
|
Date : |
26.03.2015 |
LOCATIONS
|
Registered Office : |
8-2-269/10, #504, 5th Floor, Trendset Towers, Road No.2,
Banjara Hills, Hyderabad – 500034, Andhra Pradesh, |
|
Tel. No.: |
91-40-66666204 / 205 / 206 / 66546720 / 44558888 |
|
Fax No.: |
91-40-66666205 / 66667268 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Unit I : |
Survey No.82-83, 92-95 and 107, NH 7, |
|
|
|
|
Unit II : |
Survey No: 41, |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Rajesh Agarwal |
|
Designation : |
Chairman and Managing Director |
|
Address : |
D-103, |
|
Date of Birth/Age : |
30.10.1970 |
|
Date of Appointment : |
07.02.2008 |
|
|
|
|
Name : |
Mr. Rakesh Agarwal |
|
Designation : |
Joint Managing Director |
|
Address : |
D-103, |
|
Date of Birth/Age : |
20.05.1975 |
|
Date of Appointment : |
07.02.2008 |
|
|
|
|
Name : |
Mr. Mukesh Agarwal |
|
Designation : |
Whole Time Director |
|
Address : |
D-103, |
|
Date of Birth/Age : |
27.12.1977 |
|
Qualification : |
B.com |
|
Date of Appointment : |
07.02.2008 |
|
|
|
|
Name : |
Dr. Subrata Kumar De |
|
Designation : |
Independent Director |
|
Address : |
AM Bonneshof, 30, Golzheim, |
|
Date of Birth/Age : |
30.06.1952 |
|
Qualification : |
M.Sc(EEE), Ph.D(EEE) |
|
Date of Appointment : |
01.02.2008 |
|
|
|
|
Name : |
Mr. Mahesh Kumar Khera |
|
Designation : |
Independent Director |
|
Address : |
343, Sector – 29, Noida – 201 303, |
|
Date of Birth/Age : |
20.03.1952 |
|
Date of Appointment : |
29.06.2009 |
|
|
|
|
Name : |
Mr. A. Gopalakrishnan Iyer |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. S. Mahipal Reddy |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. C Chandrasekhar |
|
Designation : |
Head Corp. Planning and Telecom |
|
|
|
|
Name : |
Mr. R. K. Dubey |
|
Designation : |
Business Head Power Division |
|
|
|
|
Name : |
Mr. Anil Sikka |
|
Designation : |
CEO, Power Division |
|
|
|
|
Name : |
Mr. Munish Sehgal |
|
Designation : |
Head – Group Corporate Affairs |
|
|
|
|
Name : |
Mr. Rama Seshan |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Ms. Alka Kumari |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
282517480 |
64.23 |
|
|
15812000 |
3.60 |
|
|
15812000 |
3.60 |
|
|
298329480 |
67.83 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
298329480 |
67.83 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
12152332 |
2.76 |
|
|
12152332 |
2.76 |
|
|
|
|
|
|
66104962 |
15.03 |
|
|
|
|
|
|
10915014 |
2.48 |
|
|
51116430 |
11.62 |
|
|
1207482 |
0.27 |
|
|
931179 |
0.21 |
|
|
276303 |
0.06 |
|
|
129343888 |
29.41 |
|
Total Public
shareholding (B) |
141496220 |
32.17 |
|
Total (A)+(B) |
439825700 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
439825700 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Telecom and Transmission related Towers. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS (AS ON 31.03.2014)
|
Particulars |
Unit |
Licensed capacity * |
Installed Capacity (As
certified by the Management & relied upon by the auditors being a
technical matter) |
|
Towers Manufacturing |
Tonnes per annum |
-- |
2,40,000* |
|
Integrated Structural Mill |
Tonnes per annum |
-- |
1,20,000* |
|
Particulars |
Unit |
31.03.2014 |
|
Actual Production |
-- |
125,101 |
* The Products manufactured by the company are under De-licensed category.
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
778 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India · State Bank of Hyderabad · State Bank of Mysore · State Bank of Travancore · State Bank of Bikaner and Jaipur · Bank of India · Syndicate Bank · Punjab National Bank ·
United Bank of India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
NOTE LONG TERM BORROWINGS a) Term Loans from
Banks – Secured Term Loans from Punjab National Bank is secured by: Ř First Equitable Mortgage and Charge (on Pari-passu basis) on all Fixed Assets, both present and future of the Company, situated at - Survey No. 82, 83, 92 – 95 & 107, Athvelly Village, Medchal Mandal, R.R.Dist & at Survey No. 41 & 42/AA, Majeedpally (NK) Village, Toopran Mandal, Medak district, Andhra Pradesh The above Term Loan is further collaterally secured by: Ř Second pari-passu Charge on entire Current Assets of the company. Ř Pledge of Equity Shares (90998850) of Promoters holding as collateral security ranking pari-passu among Term lenders and WC Consortium of Banks
Ř Personal Guarantees of Shri Rajesh Agarwal (Managing Director), Shri Rakesh Agarwal (Joint Managing Director)* and Shri Mukesh Agarwal (Whole time Director)* of the Company * under release Further above Term Loan is also collaterally secured by: Ř Corporate guarantee of I - Vantage India Private Ltd. Ř
Interest Rate is 14.25% p.a. and repayable by 2014 b) Term Loans from
Financial Institutions – Secured Ř Car Loan taken from Volkswagen Finance Private Limited and the same is secured by the underlying asset. (Car Make : Audi Q5) Ř Car Loan taken from Daimler Financial Services India Pvt Ltd and the same is secured by the underlying asset. (Car Make : Mercedes Benz W221) Ř Car Loan taken from Kotak Mahindra Finance is secured by the underlying asset (Car Make : Corolla Altis) Interest Rate is Ranging between 10% to 12% and repayable between 2014 and 2017 SHORT TERM
BORROWINGS Working Capital
Loans – Secured Working Capital loans from Syndicate Bank, Punjab National Bank, State Bank of India, State Bank of Mysore, State Bank of Hyderabad, State Bank of Travancore, State Bank of Bikaner and Jaipur, United Bank of India and Bank of India is under a Working Capital Consortium with State Bank of India being the Consortium Leader. The Working Capital Loans are secured by first exclusive
Charge on Stocks, Receivables, Spares, Consumables and other Current Assets
of the Company, present and future. |
|
Financial Insitutions : |
· IFCI Venture Capital Funds Limited · Reliance Capital Limited ·
Lakshmi Vilas Bank Limited |
|
|
|
|
Auditors : |
|
|
Name : |
P. Murali and Company Chartered Accountants |
|
Address : |
6-3-655/2/3, Somajiguda, |
|
Tel. No.: |
91-40-23326666/ 23312554/ 23393967 |
|
Fax No.: |
91-40-23392474 |
|
|
|
|
Name : |
Srinivas and Company Cost Accountants |
|
Address : |
1-1-180/18, Dharani Andalu Nilayam, Room No 4, I Floor, Opposite Sudarshan 35MM Gate, Jawahar Nagar, RTC X Road, Hyderabad – 500020, Andhra Pradesh, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary : |
·
BS Infratel Limited BS Global Resources Pte Limited BS Enviro Solutions Limited |
|
|
|
|
Joint Venture : |
Raichur Sholapur Transmission Company Limited |
|
|
|
|
Concerns in which Key Management Personnel have substantial
interest (significant interest
entities) |
·
Shivganga Infrastructures Limited Agarwal Developers I-Vantage India Private Limited I-Vantage Apac Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.1/- each |
Rs. 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
439017720 |
Equity Shares |
Rs.1/- each |
Rs.439.017
Million |
|
|
|
|
|
A
Reconciliation of the number of shares outstanding at the beginning and at the
end of the reporting period:
|
PARTICULARS |
31.03.2014 |
|
|
No. of Shares |
|
Equity Shares of Rs.1/- Each (Rs. 10/- each), Fully paid up : |
|
|
At the Beginning |
21,926,526 |
|
Issued during the year - Bonus Issue |
21,950,886 |
|
Issued during the year - Cash Issue |
-- |
|
Issued during the year - ESOP |
24,360 |
|
Forfeited / Bought Back during the year |
-- |
|
Sub-Division of Face Value of Shares from ` 10/- each into ` 1/- |
395,115,948 |
|
At the end |
439,017,720 |
Details of
Shareholder holding more than 5% shares of the company:
|
PARTICULARS |
31.03.2014 |
|
|
% of Share Holding |
|
Equity Shares of ` 1/- each Held By |
|
|
Rajesh S Agrawal C.Y. 282,517,480 of Rs.1/- each (P.Y 5,159,874 of Rs.10/- each) |
64.35 |
|
Rakesh S Agarwal C.Y. Nil (P.Y. 4,173,400 of Rs.10/- each) |
-- |
|
Mukesh Satyanarayan Agarwal C.Y. Nil (P.Y. 4,365,200 of Rs.10/- each) |
-- |
|
Santkumar Brijmohan Agarwal C.Y. 25,531,820 of Rs.1/- each (P.Y. 213,879 of Rs.10/- each) |
5.82 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
439.018 |
219.265 |
218.787 |
|
(b) Reserves & Surplus |
4399.661 |
4041.396 |
3498.537 |
|
(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) |
4838.679 |
4260.661 |
3717.324 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1749.490 |
1084.483 |
281.815 |
|
(b) Deferred tax liabilities (Net) |
162.741 |
135.449 |
108.005 |
|
(c) Other long term liabilities |
154.903 |
0.000 |
0.000 |
|
(d) long-term provisions |
13.592 |
11.432 |
9.215 |
|
Total Non-current Liabilities (3) |
2080.726 |
1231.364 |
399.035 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3454.875 |
2811.564 |
2533.543 |
|
(b) Trade payables |
4822.920 |
4072.867 |
2714.898 |
|
(c) Other current
liabilities |
747.643 |
1082.515 |
657.451 |
|
(d) Short-term provisions |
448.617 |
235.928 |
156.042 |
|
Total Current Liabilities (4) |
9474.055 |
8202.874 |
6061.934 |
|
|
|
|
|
|
TOTAL |
16393.460 |
13694.899 |
10178.293 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2172.574 |
2195.711 |
2076.562 |
|
(ii) Intangible Assets |
2.739 |
3.423 |
2.032 |
|
(iii) Capital
work-in-progress |
25.131 |
0.000 |
110.256 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
510.906 |
431.864 |
214.382 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
38.051 |
41.387 |
32.227 |
|
(e) Other Non-current assets |
19.449 |
38.459 |
62.052 |
|
Total Non-Current Assets |
2768.850 |
2710.844 |
2497.511 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1652.424 |
1894.299 |
1396.471 |
|
(c) Trade receivables |
9359.358 |
6775.683 |
5334.910 |
|
(d) Cash and cash
equivalents |
680.930 |
837.100 |
302.178 |
|
(e) Short-term loans and
advances |
1247.261 |
1204.230 |
520.767 |
|
(f) Other current assets |
684.637 |
272.743 |
126.456 |
|
Total Current Assets |
13624.610 |
10984.055 |
7680.782 |
|
|
|
|
|
|
TOTAL |
16393.460 |
13694.899 |
10178.293 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
17703.837 |
15130.551 |
11547.833 |
|
|
|
Other Income |
62.620 |
82.961 |
41.634 |
|
|
|
TOTAL |
17766.457 |
15213.512 |
11589.467 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
9240.626 |
4216.879 |
2530.403 |
|
|
|
Purchase of Stock-in-Trade |
2155.369 |
2189.353 |
455.006 |
|
|
|
Employee benefit expense |
244.453 |
230.525 |
200.493 |
|
|
|
Other operating expenses |
3818.915 |
6655.680 |
7327.631 |
|
|
|
Administrative Expenses |
143.220 |
108.715 |
48.864 |
|
|
|
Other expenses |
1.055 |
7.416 |
34.162 |
|
|
|
Public Issue Expenses Written
Off |
19.010 |
19.010 |
19.010 |
|
|
|
Changes in inventories of Finished goods, work-in-progress and Stock-in-Trade |
(184.710) |
(114.622) |
(460.857) |
|
|
|
TOTAL |
15446.937 |
13312.956 |
10154.712 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2319.520 |
1900.556 |
1434.755 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1071.464 |
748.042 |
537.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1248.056 |
1152.514 |
897.611 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
286.962 |
266.145 |
130.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
961.094 |
886.369 |
766.701 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
334.392 |
322.816 |
249.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
626.702 |
563.553 |
516.950 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2049.208 |
1511.132 |
1019.610 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
43.902 |
21.921 |
21.879 |
|
|
|
Corporate Dividend Tax |
7.461 |
3.556 |
3.549 |
|
|
Total |
51.363 |
25.477 |
25.428 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2624.547 |
2049.208 |
1511.132 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.43 |
1.28 |
1.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
3.54 |
3.72 |
4.48 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
13.10 |
12.56 |
12.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.06 |
6.68 |
7.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.21 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.08 |
0.91 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.34 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
218.787 |
219.265 |
439.018 |
|
Reserves & Surplus |
3498.537 |
4041.396 |
4399.661 |
|
Net
worth |
3717.324 |
4260.661 |
4838.679 |
|
|
|
|
|
|
long-term borrowings |
281.815 |
1084.483 |
1749.490 |
|
Short term borrowings |
2533.543 |
2811.564 |
3454.875 |
|
Total
borrowings |
2815.358 |
3896.047 |
5204.365 |
|
Debt/Equity
ratio |
0.757 |
0.914 |
1.076 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11547.833 |
15130.551 |
17703.837 |
|
|
|
31.025 |
17.007 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11547.833 |
15130.551 |
17703.837 |
|
Profit |
516.950 |
563.553 |
626.702 |
|
|
4.48% |
3.72% |
3.54% |
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 |
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 |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
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 |
Yes |
CHANGE OF NAME
During the year, the name of the Company has been changed from “BS TransComm Limited” to “BS Limited” with effect from October 18, 2012 pursuant to the Revised Certificate of Incorporation issued by the Registrar of Companies, Andhra Pradesh.
SUBSIDIARY COMPANIES
M/s. BS Global Resources Private Ltd (Formerly known as M/s. BS Global Resources Pte. Ltd), Singapore
M/s. BS Global Resources Private Limited (“BSGRPL”), the Wholly Owned Subsidiary of the Company, offers Sourcing, Trading and Supply of Coal. The Company has been trading in Coal and will foray into other metals and minerals. BSGRPL sources high quality coal from Indonesia and is pursuing opportunities from Australian & African Mines.
During the year under review, BSGRPL has achieved a Turnover of US $ 91.32 Millions and made a Profit after Tax of US $ 1.28 Millions, registering a growth of 5% which has contributed to the overall performance of the Company
BUSINESS REVIEW AND FUTURE OUTLOOK
The Company business review and future outlook is given in the Management Discussion and Analysis and Corporate Governance Report which forms part of the Annual Report.
UNSECURED LOAN
(Rs.
In Millions)
|
PARTICULAR |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
From Financial Institutions |
107.549 |
131.250 |
|
Loans and Advances from Related Parties |
519.445 |
0.000 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Loans and Advances from Other Parties |
34.623 |
4.623 |
|
Loans and advances from Related Parties |
23.958 |
0.000 |
|
|
|
|
|
Total |
685.575 |
135.873 |
NOTE (UNSECURED LOAN) :
LONG TERM BORROWINGS
c) Short Term Loan from IFCI Venture Capital Funds Limited is taken against - Unsecured:
Ř Pledge of Equity Shares of Promoters holding to the extent of 22,248,000 Shares.
Ř Personal Guarantees of Shri Rajesh Agarwal (Managing Director) of the Company
Interest Rate is at 16% p.a. and repayable between 2013 and 2016
d) Loans and Advances from Related Parties - Unsecured:
Unsecured Loans and Advances taken from Related Parties:
|
Name of Party |
31.03.2014 |
31.03.2013 |
|
Rajesh Agarwal |
246.805 Million |
NIL |
|
Reema Agarwal |
272.640 Million |
NIL |
SHORT TERM BORROWINGS
Working Capital Loans
– Secured
Working Capital loans from Syndicate Bank, Punjab National Bank, State Bank of India, State Bank of Mysore, State Bank of Hyderabad, State Bank of Travancore, State Bank of Bikaner and Jaipur, United Bank of India and Bank of India is under a Working Capital Consortium with State Bank of India being the Consortium Leader.
The Working Capital Loans are secured by first exclusive Charge on Stocks, Receivables, Spares, Consumables and other Current Assets of the Company, present and future.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10508523 |
04/07/2014 |
1,500,000,000.00 |
IFCI LIMITED |
IFCI TOWERS, 61 NEHRU PLACE, NEW DELHI, Delhi - 110001, INDIA |
C10929545 |
|
2 |
10504278 |
27/05/2014 |
250,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
D.NO. 4-3-371,, BANK STREET, KOTI, HYDERABAD, Telangana - 500095, INDIA |
C07392517 |
|
3 |
10439174 |
29/07/2013 |
10,682,786.00 |
Axis Bank Limited |
5-2-183/184,ASC Centre, III Floor, RP Road, Secunderabad, Andhra Pradesh - 500003, INDIA |
B80498686 |
|
4 |
10438910 |
27/06/2013 |
1,130,000,000.00 |
STATE BANK OF TRAVANCORE |
5-1-720, KUSHAL CHAMBERS, BANK STREET, KOTI, HYDERABAD, Andhra Pradesh - 500095, INDIA |
B80407083 |
|
5 |
10423600 |
28/03/2013 |
2,300,000,000.00 |
STATE BANK OF HYDERABAD |
OVERSEAS BRANCH, 6-3-652, KAUTILYA, SOMAJIGUDA, HYDERABAD, Andhra Pradesh - 500082, INDIA |
B74374091 |
|
6 |
10223570 |
27/09/2014 * |
14,909,500,000.00 |
State Bank of India |
Industrial Finance Branch, Mid Corporate Group, Rajbhavan Road, Somajiguda, Hyderabad, Telangana - 500082, INDIA |
C30041032 |
|
7 |
10183453 |
30/12/2013 * |
13,896,600,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE
BRANCH, SUFI CHAMBERS, ROAD NO.1, INDIA |
B96138342 |
* Date of charge modification
FIXED ASSETS
v
Tangible
Assets
Land
Building
Plant
and Machinery
Electrical
Equipment
Laboratory
Equipment
Office
Equipment
Computers
Furniture
Vehicles
v
Intangible Assets
Computer Software
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. 62.59 |
|
|
1 |
Rs. 92.46 |
|
Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.