MIRA INFORM REPORT
|
Report No. : |
309183 |
|
Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BC EQUIPMENT TRADING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gemini House, Bus Depot Lane, Deonar, Mumbai – 400088, Maharashtra |
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Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
14.02.2011 |
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|
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Com. Reg. No.: |
11-213539 |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs. 20.556
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50402MH2011PTC213539 |
|
|
|
|
IEC No.: |
0311051715 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB20956F |
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|
|
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PAN No.: [Permanent Account No.] |
AAECB4297P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Material Handling Equipments and Spare Parts and
Providing Manpower Services for Operation and Maintenance of Material
Handling Equipment. |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and huge accumulated losses incurred by the company. However, trade relations are fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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. Anand Singh Dalal |
|
Designation : |
General Manager |
|
Contact No.: |
91-9303245253 |
|
Date : |
20.02.2015 |
LOCATIONS
|
Registered Office : |
Gemini House, Bus Depot Lane, Deonar, Mumbai – 400088, Maharashtra,
India |
|
Tel. No.: |
91-22-61489898/ 66819999/ 61489815/ 61489808 |
|
Mobile No.: |
91-9303245253 (Mr. Anand Singh Dalal) |
|
Fax No.: |
91-22-61489888/ 66819988 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Regional Offices : |
Located at: ·
Ahmedabad ·
Bangalore ·
Bhubaneshwar ·
Bhopal ·
Delhi ·
Secunderabad ·
Mumbai |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ketan Anil Mavinkurve |
|
Designation : |
Director |
|
Address : |
18, Laxmi Niwas, 5th Road, Khar (West), Mumbai – 400052,
Maharashtra, India |
|
Date of Birth/ Age : |
04.01.1979 |
|
Date of Appointment : |
14.02.2011 |
|
DIN No.: |
01379472 |
|
|
|
|
Name : |
Mr. Vivek Vinod Soni |
|
Designation : |
Director |
|
Address : |
G-139, BRS Nagar, Ludhiana – 141002, Punjab, India |
|
Date of Birth/ Age : |
05.03.1975 |
|
Date of Appointment : |
14.02.2011 |
|
DIN No.: |
02614611 |
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|
|
|
Name : |
Mr. Manish Santosh Kumar Walia |
|
Designation : |
Director |
|
Address : |
4-J-40,
Vigyan Nagar, Kota – 324005, Rajasthan, India |
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Date of Birth/ Age : |
18.03.1972 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
03060872 |
KEY EXECUTIVES
|
Name : |
Mr. Anand Singh Dalal |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Anand Singh Dalal |
5000 |
0.24 |
|
Ketan Mavinkurve |
5000 |
0.24 |
|
Cycladic India Distribution, Mauritius |
950940 |
46.26 |
|
Berggruen India Rentals, Mauritius |
997000 |
48.50 |
|
Cycladic II, Mauritius |
97650 |
4.75 |
|
Total |
2055590 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings (Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or Others |
99.51 |
|
Bodies corporate |
0.49 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Material Handling Equipments and Spare Parts
and Providing Manpower Services for Operation and Maintenance of Material
Handling Equipment. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
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Products : |
Spares |
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Countries : |
· Germany · Japan · China · Belgium |
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Terms : |
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Selling : |
Cash, Advance Payment and Credit (30 Days) |
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Purchasing : |
Cash, Advance Payment and Credit (30 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers, OEM’s and End Users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
MGB and Company Chartered Accountants |
|
Address : |
Jolly Bhavan, No. 2, 1st Floor, 7, New Marine Lines,
Churchgate, Mumbai – 400 020, Maharashtra, India |
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Tel. No.: |
91-22-66332330 |
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Fax No.: |
91-22-66351545 |
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E-Mail : |
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Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AAKFM5232G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related parties
with whom transactions have taken place during the year and balance
outstanding as on the last day of the period : |
· Gemini Equipment and Rentals Private Limited ·
Berggruen Logistics India Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2055590 |
Equity Shares |
Rs.10/- each |
Rs. 20.556
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
20.556 |
20.556 |
20.556 |
|
(b) Reserves & Surplus |
(4.364) |
(10.168) |
(4.783) |
|
(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) |
16.192 |
10.388 |
15.773 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.566 |
0.220 |
0.000 |
|
(c) Other
current liabilities |
12.900 |
9.119 |
2.209 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
13.466 |
9.339 |
2.209 |
|
|
|
|
|
|
TOTAL |
29.658 |
19.727 |
17.982 |
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2.747 |
2.510 |
1.019 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.772 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.270 |
2.311 |
0.288 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
7.789 |
4.821 |
1.307 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1.069 |
1.240 |
4.426 |
|
(c) Trade
receivables |
14.797 |
5.759 |
5.214 |
|
(d) Cash
and cash equivalents |
1.320 |
5.670 |
6.030 |
|
(e)
Short-term loans and advances |
4.662 |
2.237 |
0.271 |
|
(f) Other
current assets |
0.021 |
0.000 |
0.734 |
|
Total
Current Assets |
21.869 |
14.906 |
16.675 |
|
|
|
|
|
|
TOTAL |
29.658 |
19.727 |
17.982 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
112.871 |
62.759 |
12.557 |
|
|
|
Other Income |
0.204 |
0.516 |
0.000 |
|
|
|
TOTAL |
113.075 |
63.275 |
12.557 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.805 |
(5.385) |
(4.783) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Income |
38.905 |
19.364 |
0.000 |
|
|
TOTAL EARNINGS |
38.905 |
19.364 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
1.781 |
1.096 |
|
|
|
Equipment and Stores and Spares |
1.574 |
1.702 |
4.773 |
|
|
TOTAL IMPORTS |
1.574 |
3.483 |
5.869 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.82 |
(0.26) |
(2.45) |
|
Expected Sales (2014-2015): Rs. 150.000 Millions
The above information has been parted by Mr.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.14 |
(8.58) |
(38.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62 |
1.60 |
7.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
20.556 |
20.556 |
20.556 |
|
Reserves & Surplus |
(4.783) |
(10.168) |
(4.364) |
|
Net
worth |
15.773 |
10.388 |
16.192 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
12.557 |
62.759 |
112.871 |
|
|
|
399.793 |
79.848 |
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 |
12.557 |
62.759 |
112.871 |
|
Profit/ (Loss) |
(4.783) |
(5.385) |
5.805 |
|
|
(38.09%) |
(8.58%) |
5.14% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
No |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
NATURE OF OPERATIONS:
The company is a private limited company domiciled in India and
incorporated under the provisions of the Companies Act 1956. The Company is
presently in the business of trading activities, commission income,
facilitation of import of Material Handling Equipments and Spare Parts and
Providing Manpower Services for operation and maintenance of Material Handling
Equipment.
OPERATIONS
During the year the company has incurred a loss of Rs. 5.805 Millions. The Directors are pursuing various business proposals and are hopeful of presenting a better picture in the ensuing years to come.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
Bank Guarantee |
0.441 |
0.000 |
FIXED ASSETS
·
Computers
·
Office Equipment
·
Furniture and Fixtures
·
Leasehold Improvement
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.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.