MIRA INFORM REPORT

Report No. :	507239
Report Date :	03.05.2018

IDENTIFICATION DETAILS

Name :	BENTEC BHARTIA ENGINEERS PRIVATE LIMITED
Registered Office :	5/C, Chetla Central Road, Kolkata – 700027, West Bengal
Mobile No.:	91-9830081486 (Mr. Amit Bhartia)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	23.01.1996
Com. Reg. No.:	21- 076773
Capital Investment / Paid-up Capital :	INR 4.883 Million
CIN No.: [Company Identification No.]	U31506WB1996PTC076773
IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)
GSTN : [Goods & Service Tax Registration No.]	19AABCB1088M1ZE
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCB1088M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Sale of Electronic Component, Board, Electric meters, Wires, MCCB, MCB and Other electric equipments. [Registered activity and also confirmed by management]
No. of Employees :	100 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 250000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1996. The company is a manufacturer and sale of electronic component, board, electric meters, wires, MCCB, MCB and other electric equipments. As per the financial of 2017, the company has achieved a fair growth of 8.898% in its revenue as compared to the previous year’s revenue and has reported a low profitability margin of 0.64%. The company possesses satisfactory financial position marked by adequate net worth base along with strong debt coverage indicator due to low debt balance sheet profile and moderate liquidity position. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2018.

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 03.05.2018

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. Amit Bhartia
Designation :	Director
Contact No.:	91-9830081486

LOCATIONS

Registered Office :	5/C, Chetla Central Road, Kolkata – 700027, West Bengal, India
Tel. No.:	91-33-24431524
Mobile No.:	91-9830081486 (Mr. Amit Bhartia)
Fax No.:	Not Available
E-Mail :	mohan@bentecindia.com ad@bentecindia.com
Factory 1 :	126- Phase-1, EPIP, Village, Jharmajiri, Baddi, Salon, Himachal Pradesh, India
Tel. No.:	91-179-5271161
Mobile No.:	91-9318911645 (Mr. Shekhar Agarwal)
Factory 2 :	Kasba Industrial Estate, Phase-2, Plot No -11, E M Pypass, Kolkata-700107, West Bengal, India
Area :	30000 Sq. ft.
Location :	Owned
Locality :	Industrial

DIRECTORS

AS ON 31.03.2017

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

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U31200WB1987PLC043163	BENTEC INDIA LIMITED	01/02/2013	-
U51109WB1996PTC081297	GEMUS DEALERS PRIVATE LIMITED	13/08/2001	-
U27203WB1999PLC088926	GEMCO CASTINGS LIMITED	01/05/2000	-
U27109WB1947NPL016143	BUCKET MANUFAACTURES ASSOCIATION OF INDIA	01/04/1997	-
U45200WB2007PTC112568	TANISHKA BUILDERS PRIVATE LIMITED.	29/04/2016	-

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

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51909WB1959PTC024446	GLUCO SERIES PVT LTD	11/03/1999	-
U31200WB1987PLC043163	BENTEC INDIA LIMITED	04/10/1999	-
U51109WB1994PTC062344	ALEMBIC MERCHANTS PVT LTD	16/08/2012	-
U51109WB1996PTC081297	GEMUS DEALERS PRIVATE LIMITED	13/08/2001	-
U27203WB1999PLC088926	GEMCO CASTINGS LIMITED	01/05/2000	-
U51109WB2007PTC116104	TRISHNA DEALCOM PRIVATE LIMITED	11/04/2012	-
U51900WB2008PTC129951	PADMAKAR MARKETING PRIVATE LIMITED	30/09/2013	-
U51909WB2009PTC134286	ASHIKA TRADELINK PRIVATE LIMITED	29/11/2010	-
U51909WB2010PTC147222	SHRADHA VINCOM PRIVATE LIMITED	30/09/2013	-

MAJOR SHAREHOLDERS

AS ON 31.03.2016

SHAREHOLDER DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2016

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	0.02
Promoters- Body corporate	31.44
Public/Other than promoters- Individual/Hindu Undivided Family- Indian	16.73
Public/Other than promoters - Body corporate	51.81
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Sale of Electronic Component, Board, Electric meters, Wires, MCCB, MCB and Other electric equipments. [Registered activity and also confirmed by management]
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Advance Payment, L/C, Cheque, Credit and Others (RTGS / NEFT) (30,60 Days)
Purchasing :	Cash, Advance Payment, L/C, Cheque, Credit and Others (RTGS / NEFT) (30,60 Days)

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Distributor

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

100 (Approximately)

Bankers :

Banker Name :	Axis Bank Limited
Branch :	Corporate Banking Branch, Kolkata 1, Shakespear sarani, 3^rd floor, Kolkata-700071, West Bengal, India
Person Name (With Designation) :	--
Contact Number :	91-33-22827937 (Ringing)
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Facilities :

(INR In Million)

BORROWING	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Loan from directors	1.325	0.000
Loan from Corporate Bodies	12.925	0.000
Deferred Creditor	60.000	0.000
SHORT TERM BORROWING
Bank overdraft (Secured against hypothecation of stock)	29.912	32.155
Loan from corporate bodies	0.000	11.125
Total	104.162	43.280

Auditors :
Name :	Rustogi and Associate Chartered Accountant
Address :	59, Bentinck Street, 1^st Floor, Room No.4, Kolkata-700069, West Bengal, India
Tel No.:	91-33-22367932/22349829
Email:	info@rustagiassociates.in rustagisk@hotmail.com
Website:	www.rustagiassociates.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAFFR1346H
Memberships :	Not Available
Collaborators :	Not Available
Associated companies :	Gemco Castings Limited Bentec India Limited

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	INR 10/- each	INR 6.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
488300	Equity Shares	INR 10/- each	INR 4.883 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4.883	4.883	4.883
(b) Reserves & Surplus	82.741	80.476	79.892
(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)	87.624	85.359	84.775
(3) Non-Current Liabilities
(a) long-term borrowings	74.250	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.173	0.000	0.000
(d) long-term provisions	5.200	4.279	4.994
Total Non-current Liabilities (3)	79.623	4.279	4.994
(4) Current Liabilities
(a) Short term borrowings	29.912	43.280	45.353
(b) Trade payables	185.691	90.035	59.998
(c) Other current liabilities	12.836	3.335	3.860
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	228.439	136.650	109.211
TOTAL	395.686	226.288	198.980
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.841	5.304	5.688
(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	56.488	56.488
(c) Deferred tax assets (net)	0.000	0.182	0.078
(d) Long-term Loan and Advances	6.439	5.586	5.732
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	72.768	67.560	67.986
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	169.701	51.470	19.047
(c) Trade receivables	125.210	81.085	99.936
(d) Cash and cash equivalents	1.832	2.273	8.717
(e) Short-term loans and advances	26.175	23.900	3.294
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	322.918	158.728	130.994
TOTAL	395.686	226.288	198.980

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	353.444	324.563	222.938
	Other Income	0.083	0.051	0.281
	TOTAL	353.527	324.614	223.219
Less	EXPENSES
	Cost of Materials Consumed	351.081	330.965	213.600
	Purchases	1.912	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(32.559)	(30.644)	-6.702
	Employees benefits expense	8.113	5.596	3.236
	Other expenses	16.003	12.631	7.727
	TOTAL	344.550	318.548	217.861
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	8.977	6.066	5.358
Less	FINANCIAL EXPENSES	4.132	4.061	3.204
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	4.845	2.005	2.154
Less/ Add	DEPRECIATION/ AMORTISATION	1.304	1.074	1.309
	PROFIT/ (LOSS) BEFORE TAX	3.541	0.931	0.845
Less	TAX	1.276	0.347	0.285
	PROFIT/ (LOSS) AFTER TAX	2.265	0.584	0.560
	Earnings / (Loss) Per Share (INR)	4.64	1.20	1.15

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	129.30	91.19	163.62
Account Receivables Turnover (Income / Sundry Debtors)	2.82	4.00	2.23
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	192.01	99.29	102.52
Inventory Turnover (Operating Income / Inventories)	0.05	0.12	0.28
Asset Turnover (Operating Income / Net Fixed Assets)	0.91	1.14	0.94

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.76	0.60	0.55
Debt Equity Ratio (Total Liability / Networth)	1.19	0.51	0.53
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.61	1.60	1.29
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.11	0.06	0.07
Interest Coverage Ratio (PBIT / Financial Charges)	2.17	1.49	1.67

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.64	0.18	0.25
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.57	0.26	0.28
Return on Investment (ROI) ((PAT / Networth) * 100)	%	2.58	0.68	0.66

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.41	1.16	1.20
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.67	0.78	1.03
G-Score Ratio Financial (Networth / Total Assets)	0.22	0.38	0.43
G-Score Ratio Debt (Debts / Equity Capital)	21.33	8.86	9.29
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.41	1.16	1.20

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	4.883	4.883	4.883
Reserves & Surplus	79.892	80.476	82.741
Share Application money pending allotment	0.000	0.000	0.000
Net worth	84.775	85.359	87.624
Long Term borrowings	0.000	0.000	74.250
Short Term borrowings	45.353	43.280	29.912
Total borrowings	45.353	43.280	104.162
Debt/Equity ratio	0.535	0.507	1.189

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	222.938	324.563	353.444
		45.584	8.898

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	222.938	324.563	353.444
Profit	0.560	0.584	2.265
	0.25%	0.18%	0.64%

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	Yes
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	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	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	AMOUNT	ADDRESS
1	C33033242	10413703	AXIS BANK LIMITED	25/02/2013	17/10/2014	35000000.0	CORPORATE BANKING BRANCH, AC MARKET, 3RD FLOOR1 SHAKESPEARE SARANIKOLKATAWB700071IN
2	A95878500	10243600	DEPUTY DIRECTOR OF INDUSTRIES	20/09/2010	-	572483.0	DY. DIRECTOR SINGLE WINDOW CLEARANCE AGENCY,DEPARTMENT OF INDUSTRIES, BADDI-BAROTIWALA,BADDIHP173205IN

FIXED ASSETS:

• Lease Land
• Building
• Plant and Machinery
• Die and Jigs
• Office Equipment’s
• Computer
• Furniture and Fixture
• Air Conditioner

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 records 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 66.66
UK Pound	1	INR 90.66
Euro	1	INR 80.01

INFORMATION DETAILS

Information Gathered by :	SAV
Analysis Done by :	NYT
Report Prepared by :	KVT

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)

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.