MIRA INFORM REPORT

Report No. :	340006
Report Date :	09.09.2015

IDENTIFICATION DETAILS

Name :	BENGAL TECHNOCRATS PRIVATE LIMITED

Registered Office :	12A Southern Avenue, Kolkata – 700026, West Bengal
Tel. No.:	91-33-24661504

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	22.08.2000

Com. Reg. No.:	21-092326

Capital Investment / Paid-up Capital :	Rs.2.723 Million

CIN No.: [Company Identification No.]	U31908WB2000PTC092326

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	CALB04244C

PAN No.: [Permanent Account No.]	AABCB6145M

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of industrial engineering goods, hardware fittings.

No. of Employees :	100 (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. Rating takes into consideration the sound financial risk profile of the company marked by adequate networth base and debt free capital structure of the company. Further rating consider decent profit margin of the company in FY14. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Manoj Pal
Designation :	Accounts Manager
Contact No.:	91-33-24661504
Date :	05.09.2015

LOCATIONS

Registered Office/ Factory :	12A Southern Avenue, Kolkata – 700026, West Bengal, India
Tel. No.:	91-33-24661504 / 24664344
Fax No.:	91-33-24667299
E-Mail :	technocrats@vsnl.net info@bengaltechnocrats.com
Website :	www.bengaltechnocrats.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Debabrata Chatterjee

Designation :

Director

Address :

17/4, Barada Kanta Road, Dumdum, Kolkata - 700030, West Bengal, India

Date of Birth/Age :

22.10.1947

Date of Appointment :

22.08.2000

DIN No.:

00609928

Other Directorship :

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

U31908WB2000PTC092326

BENGAL TECHNOCRATS PRIVATE LIMITED

Director

22/08/2000

Active

U32109WB1999PTC089057

MC TECHNOCRATS PRIVATE LIMITED

Director

21/03/2001

Amalgamated

Name :

Mr. Syamal Kanti Choudhuri

Designation :

Director

Address :

462, Garfa Main Road, Kasba, Kolkata - 700075, West Bengal, India

Date of Birth/Age :

19.01.1951

Date of Appointment :

22.08.2000

DIN No.:

00609929

Name :

Mr. Gautam Mukherjee

Designation :

Director

Address :

112 G.T. Road, Lalbari, Bhadra Kali, Hooghly, Hooghly - 712232, West Bengal, India

Date of Birth/Age :

16.08.1949

Date of Appointment :

22.08.2000

DIN No.:

00609931

Other Directorship :

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

U31908WB2000PTC092326

BENGAL TECHNOCRATS PRIVATE LIMITED

Director

22/08/2000

Active

U32109WB1999PTC089057

MC TECHNOCRATS PRIVATE LIMITED

Director

21/03/2001

Amalgamated

Name :

Mr. Vijay Kumar Parameshwaran Nayar

Designation :

Director

Address :

603, Jhankar, Gaurav Garden, Charkop, Kandivali, Mumbai - 400067, Maharashtra, India

Date of Birth/Age :

21.08.1961

Date of Appointment :

31.03.2014

DIN No.:

02361540

Other Directorship :

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999MH2008PTC185484	D&B RESOURCES PRIVATE LIMITED	Director	05/01/2009	05/01/2009	16/03/2009	Active	NO
2	U11200MH2010PTC206768	SWIRE OILFIELD SERVICES INDIA PRIVATE LIMITED	Director	19/08/2010	19/08/2010	03/02/2011	Active	NO
3	U31908WB2000PTC092326	BENGAL TECHNOCRATS PRIVATE LIMITED	Director	31/03/2014	31/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manoj Pal
Designation :	Accounts Manager

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Debabrata Chatterjee	5430	19.94
Gautam Mukherjee	3978	14.61
Syamal Kanti Choudhuri	2720	9.99
Mohanka Devi Savitri	4447	16.33
Bentex Fin Private Limited, India	10100	37.09
Paulraj Persis	555	2.04

Total	27230	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	9.81
Directors or relatives of Directors	90.19
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of industrial engineering goods, hardware fittings.

Products :	Industrial Engineering Goods Hardware Fittings

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Cash, Credit (30 / 60 / 90 Days)

Purchasing :	Cash, Credit (30 / 60 / 90 Days)

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Ferroscrap Nigam Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Birla Cement

Customers :

Company Name :	Jindal Strips
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Cochin Port Trust

No. of Employees :

100 (Approximately)

Bankers :

Banker Name :	Oriental Bank of Commerce
Branch :	Brabourne Road Branch, Kolkata, West Bengal, India
Person Name :	Not Divulged
Contact Number :	Not Divulged
Name of Account Holder :	Not Divulged
Account Number :	Not Divulged
Account Since :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Auditors :
Name :	Chatterjee and Company Chartered Accountants
Address :	153, Rashbehari Avenue, 3^rd Floor, Flat No.1, Kolkata – 700029, West Bengal, India
PAN No.:	AACFC2030N

Memberships :	Not Divulged

Collaborators :	Not Divulged

Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount

40000	Equity Shares	Rs.100/- each	Rs.4.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

27230	Equity Shares	Rs.100/- each	Rs.2.723 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	2.723	2.723	2.723
(b) Reserves & Surplus	125.099	105.947	90.702
(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)	127.822	108.670	93.425

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.007	0.019
(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	0.007	0.019

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	29.272	37.480	51.010
(c) Other current liabilities	0.495	0.354	0.241
(d) Short-term provisions	0.624	1.338	1.664
Total Current Liabilities (4)	30.391	39.172	52.915

TOTAL	158.213	147.849	146.359

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.743	3.144	2.482
(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)	0.004	0.000	0.000
(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	2.747	3.144	2.482

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	24.927	22.934	14.526
(c) Trade receivables	115.394	108.827	120.364
(d) Cash and cash equivalents	12.129	9.501	6.257
(e) Short-term loans and advances	3.016	3.443	2.730
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	155.466	144.705	143.877

TOTAL	158.213	147.849	146.359

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		516.353	183.104	228.625
		Other Income		1.066	0.802	0.443
		TOTAL		517.419	183.906	229.068

Less	EXPENSES			488.315	149.189	187.760

	PROFIT/(LOSS) BEFORE TAX			29.104	34.717	41.308

Less	TAX			9.953	11.559	13.865

	PROFIT/(LOSS) AFTER TAX			19.151	23.158	27.443

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			93.349	80.409	65.696

Less	APPROPRIATIONS
			Interim Dividends	0.000	7.912	6.329
			Transferred to General Reserve	0.000	2.306	6.401
	BALANCE CARRIED TO THE B/S			112.500	93.349	80.409

	Earnings Per Share (Rs.)			703.31	--	--

Particulars

31.03.2015

Sales Turnover (Approximately)

180.000

The above information has been parted by Mr. Manoj

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	12.976	23.802	21.272
Net cash flow from operating activities	2.417	11.935	7.973

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	3.71	12.65	12.00

Return on Total Assets (PBT/Total Assets)	(%)	18.40	23.48	28.22

Return on Investment (ROI) (PBT/Networth)		0.23	0.32	0.44

Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00

Current Ratio (Current Asset/Current Liability)		5.12	3.69	2.72

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	2.723	2.723	2.723
Reserves & Surplus	90.702	105.947	125.099
Net worth	93.425	108.670	127.822

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 Million	Rs. In Million	Rs. In Million
Sales	228.625	183.104	516.353
		(19.911)	182.000

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	228.625	183.104	516.353
Profit	27.443	23.158	19.151
	12.00%	12.65%	3.71%

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	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
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 four 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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

REVIEW OF OPERATION

During the year, subject has earned revenue from operations of Rs.156.353 million as compared to Rs.183.104 million during the previous year and other income of Rs.1.066 million as compared to Rs.0.802 million during the previous year. The net profit for the year has been Rs.29.104 million as against Rs.34.717 million during the previous financial year. The Directors are continuously looking for avenues for future growth of subject.

NO CHARGES EXIST FOR COMPANY

FIXED ASSETS:

· Plant and Machinery

· Tools and Implement

· Electric Installation

· Office Equipment

· Computer

· Furniture

· Motor Car

· Cycle

· Scooter

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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 records 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.66.61
UK Pound	1	Rs.102.30
Euro	1	Rs.74.61

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	KIN

Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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

MIRA INFORM REPORT

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