|
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|
MIRA INFORM REPORT
|
Report No. : |
487943 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
BVG INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
BHARAT VIKAS UTILITY SERVICES LIMITED |
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|
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|
Registered
Office : |
‘BVG HOUSE’ Premier Plaza, Pune-Mumbai Road, Chinchwad, Pune – 411019,
Maharashtra |
|
Tel. No.: |
91-20-24464220 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
20.03.2002 |
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|
|
|
Com. Reg. No.: |
11-016834 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 405.455 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN2002PLC016834 |
|
|
|
|
IEC No.: |
3107015466 |
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|
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|
GSTIN/UIN : |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB02776E |
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|
|
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PAN No.: [Permanent Account No.] |
AACCB0943N |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
The Company is engaged in providing and undertaking
facility management, mechanized housekeeping, transportation, plant
relocations, attendant services and labour supply and also undertakes various
projects for garden development, slum rehabilitation, landscaping,
beautification projects, engineering and other contracts for Government and
private organizations.
[Registered activity and also confirmed by management] |
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|
|
|
No. of Employees
: |
70,000 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 14400000 |
|
|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
BVG India Limited (BVG), is one of India’s largest integrated services company, with services spanning across facility management, emergency services and turnkey projects. The company was incorporated in the year 2002 and is based in Pune, Maharashtra. It is an established company having fine track record. Management of the company has not filed its financial with the government department for the year 2017. As per available financials of 2016, the company has witnessed a growth in its revenue and has achieved good profit margin at 8.54% (approximately). The company possesses robust financial profile marked by healthy net worth base along with comfortable debt level and favorable gap between trade payables to its trade receivables. The ratings also continue to derive strength from BVG’s established track record and leading position in the facility management services industry, qualified and experienced promoters, diverse service portfolio, nation-wide presence with strong execution capabilities. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitments. In view of the aforesaid, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating= A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
09.05.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating= A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
09.05.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial Reconstruction)
list as of 23.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Amol Mane |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9934010456 |
|
Date : |
22.01.2018 |
LOCATIONS
|
Registered Office : |
‘BVG HOUSE’ Premier Plaza, Pune-Mumbai Road, Chinchwad, Pune – 411019,
Maharashtra, India |
|
Tel. No.: |
91-20-24464220 |
|
Mobile No.: |
91-9934010456 (Mr. Amol Mane) |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Branch Office : |
Rukanpura, Near Pataliputra Junction, Phulwari Sharif – 800014,
Bihar, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Hanmantrao Gaikwad |
|
Designation : |
Chairman and Managing Director |
|
Address : |
250, Kawade Nagar, New Sanghvi, Pune – 411027, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1972 |
|
Date of Appointment : |
20.03.2002 |
|
DIN No.: |
01597742 |
|
PAN No.: |
ADTPG2678Q |
|
|
|
|
Name : |
Mr. Umesh Gautam Mane |
|
Designation : |
Vice Chairman and Joint Managing Director |
|
Address : |
55/1, Kawade Nagar, Devkar Road, New Sangvi, Pune – 411027, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1970 |
|
Date of Appointment : |
20.03.2002 |
|
DIN No.: |
01597365 |
|
PAN No.: |
AHQPM0552N |
|
|
|
|
Name : |
Mr. Anish Puspasen Jhaveri |
|
Designation : |
Director |
|
Address : |
34/D Ganesh Prasad, N Bharucha Road Grant Road (West), Mumbai – 400007, Maharashtra, India |
|
Date of Appointment : |
21.06.2014 |
|
DIN No.: |
00036397 |
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|
|
|
Name : |
Mr. Ganesh Shripad Limaye |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No.10, Building A/14/83, Premlok Park, Chinchwad, Pune – 411033, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1968 |
|
Date of Appointment : |
02.04.2007 |
|
DIN No.: |
01726835 |
|
PAN No.: |
AACPL9301P |
|
|
|
|
Name : |
Mr. Jayant Gopal Pendse |
|
Designation : |
Director |
|
Address : |
Plot No 11, Sector 25, PCNTA Nigadi, Pune – 411044, Maharashtra, India |
|
Date of Appointment : |
17.12.2016 |
|
DIN No.: |
02434630 |
|
|
|
|
Name : |
Mr. Pankaj Dhingra |
|
Designation : |
Additional Director |
|
Address : |
House No.468, Sector 37, Noida, Gautam Budh Nagar, Noida – 201303, Uttar Pradesh, India |
|
Date of Appointment : |
29.04.2017 |
|
DIN No.: |
07775198 |
|
|
|
|
Name : |
Ms. Anjali Gupta |
|
Designation : |
Nominee Director |
|
Address : |
603, Badrinath Towers Off J. P. Road, Versova, Mumbai – 400061, Maharashtra, India |
|
Date of Appointment : |
23.02.2017 |
|
DIN No.: |
00781921 |
|
|
|
|
Name : |
Ms. Swapnali Dattatraya Gaikwad |
|
Designation : |
Director |
|
Address : |
250 Kawade Nagar, Devkar Road, New Sangvi, Pune – 411027, Maharashtra, India |
|
Date of Appointment : |
17.12.2016 |
|
DIN No.: |
06972087 |
KEY EXECUTIVES
|
Name : |
Ms. Rajani Ramchand Pamnani |
|
Designation : |
Company Secretary |
|
Address : |
''Krishna Niwas'', 102, Erandwana, Dr.
Ketkar Road, Near Old Karnataka High School, Pune – 411004, Maharashtra,
India |
|
Date of Appointment : |
24.09.2015 |
|
PAN No.: |
AASPP0883C |
|
|
|
|
Name : |
Mr. Akshay Pralhad Deodhar |
|
Designation : |
Chief Financial Officer |
|
Address : |
Flat No 10, Prime 12, Sector 26, Near
Akurdi Railway Station, PCNT, Nigdi, Pune – 411044, Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AHVPD5758J |
|
|
|
|
Name : |
Mr. Kedar Kulkarni |
|
Designation : |
Manager |
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|
|
|
Name : |
Mr. Kedar Kulkarni |
|
Designation : |
Manager |
|
|
|
|
Name : |
Mr. Amol Mane |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
63.76 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
7.60 |
|
Public/Other than promoters [Body corporate] |
28.64 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in providing and undertaking
facility management, mechanized housekeeping, transportation, plant
relocations, attendant services and labour supply and also undertakes various
projects for garden development, slum rehabilitation, landscaping,
beautification projects, engineering and other contracts for Government and
private organizations.
[Registered activity and also confirmed by management] |
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Products / Services
: |
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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 : |
Cheque and Others (RTGS) |
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Purchasing : |
Cheque and Others (RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
70,000 (Approximately) |
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Bankers : |
· State Bank of India, Industrial Finance Branch Pune, Tara Chambers, Mumbai-Pune Road, Pune – 411003, Maharashtra, India · ICICI Bank Limited, 2nd Floor, Uttam Complex, Thermax Chowk, Chinchwad, Pune – 411033, Maharashtra, India |
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Facilities : |
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Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
701-703,7th Floor, Godrej, Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune – 411001, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Partnership firm : |
· BVG Krystal Joint Venture |
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|
|
|
Subsidiary company
: |
· BVG Kshitij Waste Management Services Private Limited |
|
|
|
|
Associate Company : |
· BVG-UKSAS EMS Private Limited (With effect from 23 March 2016) |
|
|
|
|
Investing
Associates : |
· Strategic Investments FM (Mauritius) B Limited · Strategic Investments FM (Mauritius) Alpha Limited |
|
|
|
|
Enterprises over which key management
personnel and the relatives of such personnel exercise control / significant
influence : |
· BVG Clean Technologies Limited (formerly known as BVG Waste Management Limited) · Hilltop Developers Private Limited · BVG Infrastucture Limited · BVG Realty Limited · Bharat Vikas Pratishthan · BVG Clean Energy Limited · BVG Sugars Limited · BVG Securities Services Private Limited · BVG Life Sciences Limited · Satara Mega Food Park Private Limited · Livestock and Crop Registry India Limited · CFO financials Consultants Private Limited · Oliphans Real Estates LLP · BVG Realty · BVG agrotech services LLP · Aadiarya aviation services Private Limited · BVG Skill Academy |
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27164861 |
Equity Shares |
INR 10/- each |
INR 271.649 Million |
|
14835139 |
Preference Shares |
INR 10/- each |
INR 148.351 Million |
|
|
|
|
|
|
|
Total |
|
INR 420.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25710388 |
Equity Shares |
INR 10/- each |
INR 257.104
Million |
|
14835139 |
Preference Shares |
INR 10/- each |
INR 148.351 Million |
|
|
|
|
|
|
|
Total |
|
INR 405.455
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
405.455 |
405.455 |
405.455 |
|
(b) Reserves & Surplus |
4627.706 |
3598.232 |
2705.215 |
|
(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) |
5033.161 |
4003.687 |
3110.670 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
645.378 |
517.197 |
462.300 |
|
(b) Deferred tax liabilities (Net) |
846.452 |
581.343 |
392.690 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
92.929 |
78.650 |
52.175 |
|
Total Non-current
Liabilities (3) |
1584.759 |
1177.190 |
907.165 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
4376.057 |
3710.251 |
2821.994 |
|
(b) Trade
payables |
1436.670 |
1229.333 |
2021.873 |
|
(c) Other
current liabilities |
1464.495 |
823.635 |
630.977 |
|
(d) Short-term
provisions |
273.577 |
381.628 |
237.548 |
|
Total Current
Liabilities (4) |
7550.799 |
6144.847 |
5712.392 |
|
|
|
|
|
|
TOTAL |
14168.719 |
11325.724 |
9730.227 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1954.932 |
1570.843 |
922.780 |
|
(ii)
Intangible Assets |
4.268 |
9.554 |
14.718 |
|
(iii)
Capital work-in-progress |
130.847 |
32.378 |
56.179 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
96.548 |
|
(b) Non-current Investments |
0.252 |
0.178 |
0.230 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
1467.937 |
1110.382 |
884.713 |
|
(e) Other
Non-current assets |
298.698 |
50.317 |
0.000 |
|
Total Non-Current
Assets |
3856.934 |
2773.652 |
1975.168 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
383.154 |
766.300 |
220.925 |
|
(c) Trade
receivables |
5546.179 |
5334.787 |
4490.682 |
|
(d) Cash
and cash equivalents |
1285.011 |
852.522 |
1077.212 |
|
(e)
Short-term loans and advances |
380.795 |
170.346 |
997.810 |
|
(f) Other
current assets |
2716.646 |
1428.117 |
968.430 |
|
Total
Current Assets |
10311.785 |
8552.072 |
7755.059 |
|
|
|
|
|
|
TOTAL |
14168.719 |
11325.724 |
9730.227 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
13707.293 |
11351.883 |
8628.042 |
|
|
Other Income |
139.808 |
135.379 |
86.224 |
|
|
TOTAL |
13847.101 |
11487.262 |
8714.266 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2787.212 |
2505.307 |
2296.160 |
|
|
Employee benefit expense |
4805.024 |
4257.141 |
3416.009 |
|
|
CSR expenditure |
20.050 |
0.000 |
0.000 |
|
|
Other expenses |
3469.647 |
2571.622 |
1358.739 |
|
|
TOTAL |
11081.933 |
9334.070 |
7070.908 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2765.168 |
2153.192 |
1643.358 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
718.589 |
656.922 |
456.609 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2046.579 |
1496.270 |
1186.749 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
210.941 |
(96.610) |
131.113 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1835.638 |
1592.880 |
1055.636 |
|
|
|
|
|
|
|
Less |
TAX |
665.365 |
578.000 |
361.727 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1170.273 |
1014.880 |
693.909 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1.545 |
230.253 |
0.000 |
|
|
TOTAL IMPORTS |
1.545 |
230.253 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
- Basic |
45.52 |
39.47 |
24.27 |
|
|
- Diluted |
43.92 |
38.09 |
23.42 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
384.270 |
228.145 |
190.616 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1255.949 |
236.167 |
(995.011) |
|
Net cash flows from (used in) operating activities |
836.382 |
(15.965) |
(1362.147) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Operating Income * 365 Days) |
732.09 |
904.33 |
997.41 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income / Sundry Debtors) |
0.50 |
0.40 |
0.37 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
188.14 |
179.10 |
321.40 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
7.22 |
2.81 |
7.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.32 |
1.34 |
1.51 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.61 |
0.61 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.07 |
1.11 |
1.12 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.50 |
1.53 |
1.84 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.42 |
0.40 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.85 |
3.28 |
3.60 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
8.54 |
8.94 |
8.04 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.26 |
8.96 |
7.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
23.25 |
25.35 |
22.31 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.37 |
1.39 |
1.36 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.31 |
1.27 |
1.32 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.36 |
0.35 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
13.33 |
10.99 |
8.57 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.37 |
1.39 |
1.36 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
405.455 |
405.455 |
405.455 |
|
Reserves & Surplus |
2705.215 |
3598.232 |
4627.706 |
|
Net
worth |
3110.670 |
4003.687 |
5033.161 |
|
|
|
|
|
|
Long-term borrowings |
462.300 |
517.197 |
645.378 |
|
Short term borrowings |
2821.994 |
3710.251 |
4376.057 |
|
Current maturities of
long-term debts |
190.616 |
228.145 |
384.270 |
|
Total
borrowings |
3474.910 |
4455.593 |
5405.705 |
|
Debt/Equity
ratio |
1.117 |
1.113 |
1.074 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
8628.042 |
11351.883 |
13707.293 |
|
|
|
31.570 |
20.749 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
8628.042 |
11351.883 |
13707.293 |
|
Profit/ (Loss) |
693.909 |
1014.880 |
1170.273 |
|
|
8.04
% |
8.94
% |
8.54
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
III.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
405.455 |
405.455 |
|
(b) Reserves and Surplus |
|
4630.913 |
3598.859 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
-
Minority
Interest |
|
1.169 |
0.246 |
|
Total
Shareholders’ Funds (1) + (2) |
|
5037.537 |
4004.560 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
645.378 |
517.197 |
|
(b) Deferred tax liabilities (Net) |
|
846.451 |
581.343 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
92.929 |
78.650 |
|
Total Non-current
Liabilities (3) |
|
1584.758 |
1177.190 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
4376.057 |
3710.251 |
|
(b) Trade
payables |
|
1467.412 |
1260.067 |
|
(c) Other
current liabilities |
|
1465.172 |
824.028 |
|
(d) Short-term
provisions |
|
273.578 |
381.628 |
|
Total Current
Liabilities (4) |
|
7582.219 |
6175.974 |
|
|
|
|
|
|
TOTAL |
|
14204.514 |
11357.724 |
|
|
|
|
|
|
IV.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1954.932 |
1570.843 |
|
(ii)
Intangible Assets |
|
4.268 |
9.554 |
|
(iii) Tangible assets capital
work-in-progress |
|
32.378 |
32.378 |
|
(iv)
Intangible assets under development |
|
98.469 |
0.000 |
|
(b) Non-current Investments |
|
0.178 |
0.104 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
|
1462.610 |
1126.404 |
|
(e) Other
Non-current assets |
|
298.698 |
50.317 |
|
Total Non-Current
Assets |
|
3851.533 |
2789.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
383.154 |
766.300 |
|
(c) Trade
receivables |
|
5571.940 |
5350.683 |
|
(d) Cash and bank
balances |
|
1285.252 |
852.678 |
|
(e)
Short-term loans and advances |
|
380.795 |
170.346 |
|
(f) Other
current assets |
|
2731.840 |
1428.117 |
|
Total
Current Assets |
|
10352.981 |
8568.124 |
|
|
|
|
|
|
TOTAL |
|
14204.514 |
11357.724 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
13712.707 |
11353.601 |
|
|
Other Income |
|
139.811 |
135.513 |
|
|
TOTAL |
|
13852.518 |
11489.114 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2787.212 |
2505.307 |
|
|
Employee benefit expense |
|
4805.024 |
4257.141 |
|
|
CSR expenditure |
|
20.050 |
0.000 |
|
|
Other expenses |
|
3469.999 |
2571.946 |
|
|
TOTAL |
|
11082.285 |
9334.394 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
2770.233 |
2154.720 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
718.796 |
657.091 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2051.437 |
1497.629 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
210.941 |
(96.610) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
1840.496 |
1594.239 |
|
|
|
|
|
|
|
Less |
TAX |
|
666.720 |
578.874 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
|
1173.776 |
1015.365 |
|
|
|
|
|
|
|
Less |
MINORITY
INTEREST |
|
0.923 |
0.126 |
|
|
|
|
|
|
|
|
TOTAL PROFIT/
(LOSS) FOR THE PERIOD |
|
1172.853 |
1015.239 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
- Basic |
|
45.62 |
39.49 |
|
|
- Diluted |
|
44.02 |
38.10 |
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 |
Yes |
|
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
COMPANY OVERVIEW:
The company was
incorporated on 20 March 2002 as Bharat Vikas Utility Services Limited. The name
of the Company was subsequently changed to BVG India Limited on 7 July 2004.
The registered office of the Company is in Pune. The Company is engaged in
providing and undertaking facility management, mechanised housekeeping,
transportation, plant relocations, attendant services and labour supply.
The Company also undertakes
various projects for garden development, slum rehabilitation, landscaping,
beautification projects, engineering and other contracts for Government and
private organisations.
STATE OF COMPANY'S AFFAIRS, FUTURE OUTLOOK ETC.:
YEAR IN RETROSPECT:
During the year, the
company has shown an impeccable growth compared to previous year. The total
income generated is INR 13847.100 million compared to INR 11487.200 million in
2014-15, an increase of about 20.54 % over the previous year. Earnings before
Interest, Tax and Depreciation (EBITD) during the year stood at INR 2765.200
million as against INR 2153.200 million in the previous year, showing an
increase of about 15.01 % over the previous year.
Profit before Tax stood at
INR 1835.700 million as against INR 1592.900 million in the previous year, an
increase of about 15.24 %. Profit after tax for the current year is INR
1170.300 million as against INR 1014.900 million in the previous year, showing
an increase of about 15.32% over the previous year.
The Company is operating
Dial 108 in the state of Maharashtra. It has set up a state of the art
Emergency Response Centre (ERC) at Pune. This center is working 24/7. The
Company is also planning to start similar activities in other states.
The Company bagged the
contract for operating and running a fleet of 1000 police vehicles under Dial
100 project of Madhya Pradesh Government on 24/7 basis and setting up Emergency
response centre. The Centre has been equipped with latest state of art
technological tools like GIS MAP for whole state CAD (Computer aided dispatch).
The fast response vehicles
are GPS enabled. In the first phase, during the year the Company has successfully
deployed 800 police vehicles and has established the response centre at Bhopal.
Total calls attended per day are approx. 20,000 to 24000. In the second phase
of this project the Company will deploy balance 200 vehicles in the financial
year 2016-2017.
Apart from the above the
Company has also bagged many other prestigious contracts during the year.
Notable among these are the Vasundhara Watershed Development Agency for supply
of manpower, Municipal Corporation of Greater Mumbai for integrated facility
management services for Municipal schools and services and South Delhi
Municipal Corporation for horticultural services.
The Company in consortium
with UK Specialist Ambulance Services formed a Special Purpose Vehicle (SPV) in
the name of BVG-UKSAS EMS Private Limited for operation and maintenance of
Centralised Accident and Trauma Services (CATS) under Government of NCT of
Delhi having a fleet of 265 ambulances.
FUTURE OUTLOOK:
Dial 108 projects for
providing emergency medical and ambulance services are being considered for few
other states by the Company. In addition to this Dial 100 project for operating
and running police vehicles is also expected from a few states in future.
Commensurate to the growth
and progress made by the Company it has identified various segments and
verticals with high potential for growth and has planned focused attention on
these segments and verticals on all India level. The Company expects to achieve
higher growth and profitability through this kind of focused approach.
As a part of this
segment/vertical oriented approach, the core business of Facility Management
Services has been introduced in various new industries the recent being the
Banking Sector. The Company is also planning to grow more into the business of
Facility Management Projects (FMP) with major focus on landscaping and
gardening. As a business strategy the Company has decided to slow down on
electric business and broaden its spectrum of activities in LED business. The
Company is also exploring on new avenues in international business to broaden
its scope of activities globally.
The Company had entered
into a scheme of arrangement with Out-of-Home Media (India) Private Limited for
acquisition of its business by a process of demerger. The order for the said
scheme of arrangement has been passed by the High Court of Judicature, Mumbai
on September 29, 2016. This business can be profitably managed on the strength
of the existing business of the Company.
The Company is expected to
show an impeccable growth in the financial year 2016-17 due to various measures
taken by the management and the support from the employees at all levels and
other stakeholders.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Debentures |
6.830 |
6.830 |
|
Long-term
maturities of finance lease obligations |
1.824 |
8.604 |
|
|
|
|
|
Total |
8.654 |
15.434 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G48770655 |
100110899 |
TMF HOLDINGS LIMITED |
30/06/2017 |
- |
- |
2975000.0 |
10TH FLOOR, 106 A & B, MAKER CHAMBERS INARIMAN POINT, MUMBAI MH400021IN |
|
2 |
G48450191 |
100109871 |
TMF HOLDINGS LIMITED |
21/06/2017 |
- |
- |
16000000.0 |
10TH FLOOR, 106 A & B, MAKER CHAMBERS INARIMAN POINT, MUMBAI MA400021IN |
|
3 |
G44444222 |
100099439 |
TATA MOTORS FINANCE LIMITED |
29/04/2017 |
- |
- |
3467405.0 |
10TH FLOOR, 106 A & B, MAKER CHAMBERS INARIMAN POINT, MUMBAI MA400021IN |
|
4 |
G43240365 |
100095771 |
AXIS BANK LIMITED |
18/04/2017 |
- |
- |
1537500.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGE AHMEDABAD GJ380006IN |
|
5 |
G43469477 |
100096373 |
TATA MOTORS FINANCE LIMITED |
11/04/2017 |
- |
- |
1800000.0 |
10TH FLOOR, 106 A & B, MAKER CHAMBERS INARIMAN POINT, MUMBAI MA400021IN |
|
6 |
G41587460 |
100091556 |
AXIS BANK LIMITED |
23/03/2017 |
- |
- |
7409250.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGE AHMEDABAD GU380006IN |
|
7 |
G41616681 |
100091713 |
STATE BANK OF INDIA |
15/03/2017 |
- |
- |
1150000000.0 |
INDUSTRIAL FINANCE BRANCH PUNE, TARA CHAMBERS MUMBAI - PUNE ROAD, PUNE MH411003IN |
|
8 |
G42796961 |
100094663 |
TATA MOTORS FINANCE LIMITED |
25/02/2017 |
- |
- |
9545000.0 |
10TH FLOOR, 106 A & B, MAKER CHAMBERS III, NARIMAN POINT, MUMBAI MA400021IN |
|
9 |
G34025403 |
100073618 |
ICICI BANK LIMITED |
23/01/2017 |
- |
- |
10000000.0 |
2ND FLOOR, UTTAM COMPLEXTHERMAX CHOWK, CHINCHWAD PUNE MH411033IN |
|
10 |
C63211825 |
10589091 |
SBICAP TRUSTEE COMPANY LIMITED |
21/07/2015 |
- |
- |
1425000000.0 |
202, MAKER TOWER, "E", CUFFE PARADE, MUMBAI MH400005IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
PRESS RELEASE:
PUNE-BASED BVG INDIA
PLANNING INR 10000.000 MILLION IPO
June 07 2017
Mumbai: Pune-based facility
Management Company BVG India Limited plans to raise up to INR
10000.000 million from an initial public offering (IPO), two people
directly aware of the matter said.
The proposed offering is in the early stages of
planning and BVG is in the process of hiring bankers for it, the persons cited
above said on condition of anonymity.
“While it is certain that the IPO will be in
the range of INR 10000.000 million, the
other modalities are being worked out,” said the first person cited above. “The
main reason for the IPO is to provide an exit to private equity fund 3i group,
which currently owns 26% stake in the company,” the person added.
UK-based 3i Group Plc. had bought a 27% stake in BVG in 2011 from existing investor Kotak India Growth Fund I, a fund managed by the Kotak Private Equity Group. It also bought additional shares from the promoter family. Its total investment in the company was worth INR 2000.000 INR 10000.000 million.
Mint had reported in December 2015 that 3i was planning to exit BVG India through a secondary sale and had hired Kotak Mahindra Investment Bank to manage the sale which was expected to be in the $80-100 million range.
However, plans for the secondary sale were
dropped and both the company and the PE fund decided to list it in the public
market instead, the persons cited above said.
“Given the response that the recent IPOs of
similar facility management companies such as Quess Corp and TeamLease Services
have received, both BVG India and 3i felt that IPO is (the) best the option
ahead,” the first person said.
“Apart from giving a complete exit to 3i, the
company will also use part of the IPO proceeds to fund acquisitions,” the
second person added.
In 2016, ICICI Ventures-backed staffing firm
TeamLease Services Ltd and Fairfax Financial Holdings-funded business services
provider Quess Corp Ltd successfully raised INR 4200.000 million and INR
4000.000 million from their respective IPOs.
An email sent to the 3i group was not
answered until the time of going to press. BVG India chairman and managing
director Hanmant Gaikwad could not be racehd for comment.
BVG is among India’s largest integrated
services companies with its offerings spanning facility management, emergency
services and turnkey projects. BVG was originally set up as a partnership
between Gaikwad and Umeshrao Mane in 1997, with an eight-member cleaning crew.
It has grown to become an integrated services company with an employee strength
of more than 65,000.
During FY16, BVG reported total operating
income of INR 13707.300 million and profit after tax of INR 1170.300 million,
higher than INR 11351.900 million and INR 1014.900 million, respectively, a
year earlier.
3i, which has assets under management worth
£14 billion globally, has invested in Indian firms such as UFO Moviez Private
Limited and Navayuga Engineering Co. Limited through its private equity arm.
The 3i India Infrastructure Fund, a $1.2 billion fund launched in 2008, has
holdings in firms including Adani Power Ltd, GVK Energy Ltd, Ind-Barath Energy
(Utkal) Limited, KMC Constructions Limited, Soma Enterprise Limited and Supreme
Infrastructure BOT Holdings Private Limited. In 2013, the 3i Group announced
plans to cease investments in India, both private equity and infrastructure.
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 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
|
INR |
|
US Dollar |
1 |
INR 63.77 |
|
|
1 |
INR 89.20 |
|
Euro |
1 |
INR 78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.