MIRA INFORM REPORT
|
Report
Date : |
11th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
BHANSALI CABLES AND CONDUCTORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
GB-17, Shivaji Enclave, Najafgarh Road, New Delhi –
110027, India |
|
|
|
|
Country
: |
India |
|
|
|
|
Financials
(as on) : |
31.03.2005 |
|
|
|
|
Date
of Incorporation : |
02.11.1987 |
|
|
|
|
Com.
Reg. No.: |
55-29645 |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U74899DL1987PTC029645 |
|
|
|
|
TAN
No.: [Tax Deduction & Collection
Account No.] |
DELB02919A |
|
|
|
|
Legal
Form : |
Private Limited Liability Company |
|
|
|
|
Line
of Business : |
Manufacturers of Cables, Wires and Data Cables |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD 60000 |
|
|
|
|
Status
: |
Satisfactory
|
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation
: |
Clear |
|
|
|
|
Comments
: |
Subject
is a well established company having satisfactory track. Directors are
reported as experienced, respectable and having satisfactory means of their
own. Their trade relations are reported as fair. General financial position
is satisfactory. Payments are usually correct and as per commitments. The
company is doing well. It can be considered good for any normal business
dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
GB-17, Shivaji Enclave, Najafgarh Road, New Delhi –
110027, India |
|
Tel.
No.: |
91-11-25446590/25468865/51694254 |
|
Fax
No.: |
91-11-25131184 |
|
E-Mail
: |
|
|
Website
: |
|
|
|
|
|
Marketing
Office : |
A-38/4,
Maya Puri Phase-I, New Delhi – 110064, India |
|
Tel.
No.: |
91-11-25144496/25131086/25132203/51694254 |
|
Fax
No.: |
91-11-28115151 |
|
Location : |
Industrial
|
|
|
|
|
Factory
/ Works : |
B-816,
RIICO Industrial Area, Phase II, Bhiwadi, Wlwar, Rajasthan, India |
|
Tel.
No.: |
91-1492-223560/224105 |
|
E-Mail
: |
|
|
Location : |
Industrial
|
DIRECTORS
|
Name : |
Mr. Suraj
Jain |
|
Designation
: |
Director |
|
Address
: |
GB-17, Shivaji Enclave, Najafgarh Road, New Delhi –
110027, India |
|
Date
of Birth/Age : |
05.07.1946 |
|
Date
of Appointment : |
02.11.1987 |
|
|
|
|
Name : |
Mr. Deepak Jain |
|
Designation
: |
Director |
|
Address
: |
GB-17, Shivaji Enclave, Najafgarh Road, New Delhi –
110027, India |
|
Date
of Birth/Age : |
12.05.1969 |
|
Date
of Appointment : |
02.11.1987 |
|
|
|
|
Name : |
Mr. Balwant Singh Jain |
|
Designation
: |
Director |
|
Address
: |
GB-17, Shivaji Enclave, Najafgarh Road, New Delhi –
110027, India |
|
Date
of Appointment : |
25.03.1997 |
|
|
|
|
Name : |
Mr. Vikas Jain |
|
Designation
: |
Director |
|
Address
: |
GB-17, Shivaji Enclave, Najafgarh Road, New Delhi –
110027, India |
|
Date
of Appointment : |
31.03.1999 |
KEY EXECUTIVES
|
Name : |
RMG and
Associates |
|
Designation : |
Company
Secretary |
|
Address : |
207,
Suchet Chambers – 122 415, Bank Street, Karol Bagh, New Delhi – 110 005,
India |
|
Telfax
No.: |
91-11-51450970 |
|
Mobile
No.: |
91-9212221110/
9868113870 |
|
E-Mail
: |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No of Shares |
%age holding |
|
Mr. Suraj
Jain |
15260 |
18.69 |
|
Mr.
Deepak Jain |
8250 |
10.10 |
|
Mr.
Balwant Singh Jain |
20,000 |
24.09 |
|
Mr. Vikas
Jain |
5280 |
6.47 |
|
Mr.
Vishal Jain |
11110 |
13.61 |
|
Ms. Ritu
Jain |
50 |
0.06 |
|
B. S.
Jain and Sons, HUF |
14000 |
17.14 |
|
Deepak
Jain, HUF |
6,000 |
7.74 |
|
V. K.
Jain, HUF |
1,500 |
1.84 |
|
Ms. Kanta
Kochhar |
1 |
0.00 |
|
Mr.
Sukhraj Kumar Kochhar |
1 |
0.00 |
|
Ms. Prem
Lata |
1 |
0.00 |
|
Sukraj
Kumar, HUF |
1 |
0.00 |
|
Mr.
Pankaj Daga |
1 |
0.00 |
|
Bhansali
Tech Private Limited |
200 |
0.26 |
|
Ms.
Sunita Kochhar |
1 |
0.00 |
|
Ms.
Saithak Jain |
1 |
0.00 |
|
Ms.
Bhaqvika Jain |
1 |
0.00 |
|
Mr. Kirti
Kumar Kochhar |
1 |
0.00 |
|
TOTAL |
81659 |
100.00% |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers of Cables, Wires and Data Cables |
|
|
|
|
Products
: |
v
Switchboard
and Telephone Cables v
PCM
Cables v
Radio
Frequency Coaxial Cables v
Polythylene
Insulated Jelly Filled Cables v
Ethernet
Cables for Broadband Solutions v
Power
Cables v
Equipment
Wires v
Instrumentation
and Data Cables v
Control
Cables v
Local
Area Network (LAN) Cables v
CATV Cables |
|
|
|
|
Exports
to : |
Europe,
Middle East |
GENERAL INFORMATION
|
Customers
: |
v
ABB v
DLF v
Motorola v
Ansals v
Ericcson v
MTNL v
Apollo v
Escorts
Heart Institute N v
HPC v
Ascom v
Fujitsu v
Ortel v
Asianet v
HAL v
Philips
India v
BCS v
Hathway v
Phoenix
Technology v
Bhartia
Cutler Hammer Limited v
HFCL v
Punwire v
Bharti
Telecom Limited v
HFCL v
BSF v
IOCL v
Taj
Hotels v
ITC
Group v
CEERI v
ITI v
DESU v
Meltron |
|
|
|
|
No. of
Employees : |
Around 150 |
|
|
|
|
Bankers
: |
v
UCO
Bank, Mayapuri Branch, New Delhi – 110064 v
Standard
Chartered Bank v
State
Bank of Bikaner and Jaipur, Bhiwadi, Rajasthan v
HDFC
Bank Limited v
ICICI
Bank Limited |
|
|
|
|
Facilities : |
UCO Bank : Cash Credit Standard
Chartered Bank : Vehicle Loan RIICO : Secured Loan |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
G. S.
Kohli and Company Chartered
Accountants |
|
Address
: |
R. A.
Enclave, E-2, Jhandewalan Extension, New Delhi – 110055 |
|
Tel.
No.: |
91-11-23521330 |
|
Fax
No.: |
91-11-25791159 |
|
E-Mail
: |
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|
|
|
|
Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs.
100/- each |
Rs. 10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
81,659 |
Equity Shares |
Rs.
100/- each |
Rs. 8.166 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
8.166 |
7.666 |
7.666 |
|
|
2]
Reserves & Surplus |
6.836 |
5.250 |
4.926 |
|
NETWORTH
|
15.002 |
12.916 |
12.592 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
29.316 |
12.396 |
12.340 |
|
|
2]
Unsecured Loans |
14.384 |
15.292 |
13.492 |
|
TOTAL
BORROWING
|
43.700 |
27.688 |
25.832 |
|
|
DEFERRED
TAX LIABILITIES |
1.008 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
59.710 |
40.604 |
38.424 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
19.041 |
18.432 |
19.978 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
12.965
|
12.227 |
9.813 |
|
|
Sundry Debtors
|
36.481
|
9.898 |
10.873 |
|
|
Cash & Bank Balances
|
3.565
|
3.252 |
2.141 |
|
|
Other Current Assets
|
2.006
|
2.694 |
0.911 |
|
|
Loans & Advances
|
1.510
|
3.388 |
0.829 |
Total Current Assets
|
56.527
|
31.459 |
24.567 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities & Provisions
|
15.858
|
9.290 |
6.127 |
Total Current Liabilities
|
15.858
|
9.290 |
6.127 |
|
Net
Current Assets
|
40.669
|
22.169 |
18.440 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.003 |
0.006 |
|
|
|
|
|
|
|
TOTAL
|
59.710 |
40.604 |
38.424 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
124.464 |
57.339 |
75.065 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
2.268 |
0.490 |
0.713 |
Provision for Taxation
|
0.682 |
0.165 |
0.219 |
Profit/(Loss) After Tax
|
1.586 |
0.325 |
0.494 |
|
|
|
|
|
Total Expenditure
|
122.196 |
56.849 |
68.026 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
1.27
|
0.57 |
0.66 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
1.82
|
0.85 |
0.95 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
2.10
|
0.65 |
1.60 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
10.57
|
2.52 |
0.06 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
2.91
|
2.14 |
2.54 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
3.56
|
3.39 |
4.01 |
LOCAL AGENCY FURTHER INFORMATION
Subject
acts as Manufacturer of Cables, Wires and Data Cables.
Incorporated
in 1987, a part of Bhansali group, the subject is engaged in the business of
manufacturers of Cables, Wires and Data Cables. The subject is manufacturing
most comprehensive lines of coaxial cables and their products are designed to
meet the needs for safe and reliable transmission of voice, video and data.
The subject
has accredited ISO 9001 certification for Quality Practices.
Subject
exports its finished Cables Wires and Data Cables to Worldwide.
MEMBERSHIPS
v
EEPC
v
TEMA
v
FISME
Group Profile
Established
way back in the year 1940 Bhansali
Group is a renowned name in the field of manufacturing and exporting the
most comprehensive line of Radio Frequency Coaxial cables, Equipment wires,
Instrumentation & Data cables, Control cables, Telephone cables, Local Area
Network cable, CATV cables for critical installations.
The company has been awarded ISO 9002
certification for its Quality Practices and enjoys a solid client base
that include the most reputed names in the Industry.
Bhansali
Group has been in existence in India for last six decades. Established in the
year 1940 i. e. the pre-independence era the group has been new heights every
year by enhancing its manufacturing technology and manpower skills. Today the
company manufactures Radio Frequency Coaxial Cables, Equipments Wires,
Instrumentation and Data Cables, Control Cables, Telephone Cables, Local Area
Network Cables, CATV Cables. Available from a single source all the products
are designed to meet the needs of most critical installations for safe and reliable
transmission of voice, video and data.
From the
beginning customer service has been of utmost importance to us. As they
strongly believed in the sovereign position of the customer, they provide quick
and efficient service which ensure customer satisfaction. To accomplished this
they have a separate unit for customer care this is responsible for taking into
account every query given by the customer, which is resolved as quickly as
possible.
Manufacturing Edge
Manufacturing
at Bhansali is done by state of the art high tech equipments handled by a team
of skilled people to deliver high quality of products. They have been
continuously improving upon manufacturing process and the machinery to keep in
pace with the changing and ever advancing technology.
Contact
A-38/4,
Maya Puri Phase-I, New Delhi – 110064, India
Tel. No. :
91-11-25144496/25131086/25132203/51694254
Fax No. :
91-11-28115151
Queries
Contact Email : sales@bhansali.net
Marketing
Department Contact : info@bhansali.net
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 44.90 |
|
UK Pound |
1 |
Rs. 85.91 |
|
Euro |
1 |
Rs. 57.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
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 |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |