MIRA INFORM REPORT
|
Report No. : |
325811 |
|
Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BENTEC BHARTIA ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Kasba Industrial Estate, Phase-2, Plot No -11, E M Pypass, Kolkata-700107,
West Bengal |
|
Tel. No.: |
91-33-2401482/24431524 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.11.1996 |
|
|
|
|
Com. Reg. No.: |
21-076773 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 4.883 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31506WB1996PTC076773 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of electrical products like- MCB, ACCB, MCCB etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
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|
|
|
Comments : |
Subject was incorporated on January 1996. It is an established company
having satisfactory track record. Subject is engaged into manufacturing of electrical products like MCB,
ACCB, MCCB’s etc. Company have reported steady growth in sales turnover, however profit
margin of the company is low during the year 2014.the net worth position of
company is sound backed by its debt to equity at 0.50 times. Trade relations are reported as fair. Business is active. Payments
term are reported to be slow but correct. The company can be considered normal for 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Rajesh Khanetawal |
|
Designation : |
Business head operator |
|
Contact No.: |
91-983605800 |
|
Date : |
04.06.2015 |
LOCATIONS
|
Registered Office : |
Kasba Industrial Estate, Phase-2, Plot No -11, E M Pypass,
Kolkata-700107, West Bengal, India |
|
Tel. No.: |
91-33-2401482/24431524 |
|
Mobile No.: |
91-9836058000 (Mr. Rajesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
126- phase-1, EPIP, village, jharmajiri, baddi salon, India |
|
Tel. No.: |
91-179-5271161 |
|
Mobile No.: |
91-9318911645 (Mr. Shekhar Agarwal) |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Rajkapoor Bhartia |
|
Designation : |
Director |
|
Address : |
640 Block “O”, New Alipore, Kolkata-700053, West Bengal, India |
|
Date of Birth/Age : |
03.03.1950 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00733178 |
|
PAN No.: |
AEHPB208206 |
|
|
|
|
Name : |
Mr. Amit Bhartia |
|
Designation : |
Director |
|
Address : |
640 Block “O”, New Alipore, Kolkata-700053, West Bengal, India |
|
Date of Birth/Age : |
30.10.1975 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00733237 |
|
PAN No.: |
AIDPB66494G |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Khanetawal |
|
Designation : |
Business head operator |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDER DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
69.17 |
|
Directors or relatives of Directors |
1.21 |
|
Other top fifty shareholders |
29.62 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of electrical products like- MCB, ACCB, MCCB etc. |
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|
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Products : |
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|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Rustogi and Associate Chartered Accountant |
|
Address : |
59, Bentinck Street, 1st Floor, Room No.4, Kolkata-700069,
West Bengal, India |
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PAN No.: |
AAFFR1346H |
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Sister Concern : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.4.883
Million
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 |
4.883 |
2.653 |
2.653 |
|
(b) Reserves & Surplus |
79.364 |
42.585 |
40.765 |
|
(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) |
84.247 |
45.238 |
43.418 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.118 |
0.142 |
0.147 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.512 |
3.926 |
3.414 |
|
Total Non-current
Liabilities (3) |
4.630 |
4.068 |
3.561 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
42.970 |
19.530 |
0.000 |
|
(b) Trade
payables |
54.377 |
103.120 |
85.129 |
|
(c) Other
current liabilities |
2.438 |
58.819 |
49.374 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
99.785 |
181.469 |
134.503 |
|
|
|
|
|
|
TOTAL |
188.662 |
230.775 |
181.482 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6.990 |
7.816 |
8.444 |
|
(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 |
56.488 |
48.153 |
33.203 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.026 |
4.551 |
3.313 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
68.504 |
60.520 |
44.960 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
7.253 |
19.363 |
6.831 |
|
(c) Trade
receivables |
59.728 |
77.006 |
82.921 |
|
(d) Cash
and cash equivalents |
6.117 |
1.330 |
2.859 |
|
(e)
Short-term loans and advances |
47.060 |
72.556 |
43.911 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
120.158 |
170.255 |
136.522 |
|
|
|
|
|
|
TOTAL |
188.662 |
230.775 |
181.482 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
216.860 |
171.917 |
184.750 |
|
|
|
Other Income |
0.044 |
0.053 |
0.026 |
|
|
|
TOTAL (A) |
216.904 |
171.970 |
184.776 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
161.927 |
156.965 |
|
|
|
|
Purchases of Stock-in-Trade |
28.740 |
8.600 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
10.437 |
(12.067) |
|
|
|
|
Employees benefits expense |
4.149 |
2.618 |
|
|
|
|
Other expenses |
6.675 |
12.108 |
|
|
|
|
TOTAL (B) |
211.928 |
168.224 |
178.631 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.976 |
3.746 |
6.145 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.397 |
0.424 |
N.A |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.579 |
3.322 |
6.145 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.905 |
0.995 |
1.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.674 |
2.327 |
5.037 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.575 |
0.507 |
1.177 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.099 |
1.820 |
3.860 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.25 |
6.86 |
--- |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.51 |
1.06 |
2.09 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
2.29 |
2.18 |
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.27 |
1.27 |
3.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.05 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.51 |
0.43 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
0.94 |
1.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
2.653 |
2.653 |
4.883 |
|
Reserves & Surplus |
40.765 |
42.585 |
79.364 |
|
Net
worth |
43.418 |
45.238 |
84.247 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
19.530 |
42.970 |
|
Total
borrowings |
0.000 |
19.530 |
42.970 |
|
Debt/Equity
ratio |
0.000 |
0.432 |
0.510 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
184.750 |
171.917 |
216.860 |
|
|
|
-6.946 |
26.142 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
184.750 |
171.917 |
216.860 |
|
Profit |
3.860 |
1.820 |
1.099 |
|
|
2.09% |
1.06% |
0.51% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity -Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
No |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10413703 |
25/02/2013 |
20,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH (CBB), KOLKATA, 1, SHAKE |
B71410963 |
|
2 |
10243600 |
20/09/2010 |
572,483.00 |
DEPUTY DIRECTOR OF INDUSTRIES |
DY. DIRECTOR SINGLE WINDOW CLEARANCE AGENCY, DEPARTMENT OF INDUSTRIES, BADDI-BAROTIWALA,,
BADDI, Himachal Pradesh - 173205, INDIA |
A95878500 |
* Date of charge modification
FIXED ASSETS
- Lease land
- Building
- Plant and
machinery
- Die and jigs
- Office
Equipments
- Computer
- Furniture and
fixture
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.69.89 |
|
|
1 |
Rs.97.97 |
|
Euro |
1 |
Rs.71.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
42 |
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.