MIRA
INFORM REPORT
|
Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
CAP CAB INDIA LIMITED |
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Registered Office : |
F-1233, Industrial Area, Bhiwandi, Dist Alwar, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.04.1993 |
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Com. Reg. No.: |
020552 |
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CIN No.: [Company
Identification No.] |
U64204RJ1993PLC020552 |
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Legal Form : |
Closely held Public Limited Liability Company |
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Line of Business : |
Manufacturers and Traders of Electric Cables |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 64800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are reported as slow but correct. However, the company can be considered normal for business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
F-1233, Industrial Area, Bhiwandi, Dist Alwar, Rajasthan, India |
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Tel. No.: |
91-1493-225352 to 2253524 |
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Website: |
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Office: |
7, Central Mkt., 2nd Floor, Behind Mc Donalds, West Punjabi
Bagh, New Delhi – 110 026, India |
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Tel. No.: |
91-11-25226925/ 25222686 |
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Fax No.: |
91-11-25229696 |
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Mobile: |
91- 9810027630 |
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Email: |
DIRECTORS
|
Name : |
Mr. Jatinder Pal Singh |
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Designation : |
Director |
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Address : |
House No. 4/45 A, West Punjabi Bagh, New Delhi – 110 026, India |
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Date of Birth/Age : |
18.07.1961 |
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Date of Appointment : |
16.11.2000 |
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Name : |
Ms. Enna Dhingra |
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Designation : |
Director |
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Address : |
House No. 4, Road No. 45 A, West Punjabi Bagh, New Delhi – 110 026,
India |
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Date of Birth/Age : |
23.03.1968 |
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Date of Appointment : |
23.04.1993 |
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Name : |
Mr. Sanjay Tripathi |
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Designation : |
Director |
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Address : |
House No. D-723, Saraswati Vihar, Shakur Basti, New Delhi – 110 027,
India |
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Date of Birth/Age : |
10.01.1966 |
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Date of Appointment : |
16.11.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Mr. Inder Paul Singh |
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560010 |
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Mr. jatinder Pal Singh |
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407970 |
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Ms. Sudershan Dhingra |
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10 |
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Ms. Manranjan Dhingra |
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300001 |
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Ms. Savinder Dhingra |
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10 |
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Mr. Randeep Singh |
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1 |
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Ms. Enna Dhingra |
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220004 |
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Mr. Gur Kabir Singh |
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1 |
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Mr. Gobind Singh |
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1 |
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Mr. Raman Jot Singh |
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10 |
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Ms. Sahiba Dhingra |
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1 |
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Ms. Sukhmani Dhingra |
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10 |
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Mr. Guru Karan Singh |
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1 |
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Total |
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1488030 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Traders of Electric Cables |
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Products : |
v
Power and Control Cables v
LT XLPE Cables v
HT XLPE Cables v
Building Wire v
Flexible Wire v
PVC Insulated winding wire and 3 crore Flat
Cables v
Instrument signal cables v
Special Cables v
Extension/ Compensating Leads/ Cables v
AAAC Cable Conductor v
ACSR Cable Conductor v
Aerial Bunched Cables v
Jelly Filled Cables |
GENERAL
INFORMATION
|
Suppliers : |
v Indian
Petrochemicals Corporation Limited v Mica Wires
Private Limited v Shakun Polymers
Limited v M and M
Industries v Aircon
Pneumatics Private Limited v Topcon Power
Cables Private Limited v Yadav
Electricals Private Limited v Asha PVC
Compound Private Limited |
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Customers : |
v K N Mittal and
Sons v Rama Electric
Stores v Capital Cables
India Limited v Ritco Automotive
India Private Limited v Saggi Electric
Co. v Topcon Power
Cables Private Limited v Universal
Trading Corporation v Saket Motors
Private Limited v Century Metals v Bhagya Wires and
Chemical Industry |
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Bankers : |
v The Jammu and
Kashmir Bank Limited v Punjab National
Bank Limited v Citi Bank v HDFC Bank
Limited v Canara Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Virendra K Gupta and Company Chartered Accountants |
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Address : |
MCD Building, D B Gupta Road, Pahar Ganj, New Delhi – 110 055, India |
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Tel. No.: |
91-11-23583959 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1488030 |
Equity Shares |
Rs. 10/-
each |
Rs. 14.880 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
14.880 |
2.980 |
2.980 |
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2] Share Application Money |
0.000 |
9.300 |
7.500 |
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3] Reserves & Surplus |
1.328 |
0.018 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.577) |
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NETWORTH |
16.208 |
12.298 |
9.903 |
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LOAN FUNDS |
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1] Secured Loans |
30.569 |
0.000 |
0.000 |
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2] Unsecured Loans |
13.188 |
13.886 |
0.000 |
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TOTAL BORROWING |
43.757 |
13.886 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.749 |
0.724 |
0.511 |
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TOTAL |
60.714 |
26.908 |
10.414 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
13.279 |
7.849 |
5.030 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
51.641
|
47.285 |
0.000 |
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Cash & Bank Balances |
5.955
|
1.431 |
0.000 |
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Other Current Assets |
26.696
|
14.122 |
50.780 |
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Loans & Advances |
6.089
|
4.322 |
0.000 |
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Total
Current Assets |
90.381
|
67.160 |
50.780 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
42.660
|
48.081 |
45.460 |
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Provisions |
0.379
|
0.068 |
0.000 |
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Total
Current Liabilities |
43.039
|
48.149 |
45.460 |
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Net Current Assets |
47.342
|
19.011 |
5.320 |
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MISCELLANEOUS EXPENSES |
0.093 |
0.048 |
0.064 |
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TOTAL |
60.714 |
26.908 |
10.414 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
145.660 |
111.252 |
70.845 |
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Other Income |
0.215 |
0.108 |
0.195 |
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Total Income |
145.875 |
111.360 |
71.040 |
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Profit/(Loss) Before Tax |
1.714 |
0.876 |
0.112 |
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Provision for Taxation |
0.249 |
0.280 |
0.000 |
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Profit/(Loss) After Tax |
1.465 |
0.596 |
0.112 |
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Expenditures : |
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Salaries, Wages, Bonus, etc. |
1.168 |
0.988 |
0.346 |
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Raw material Consumed |
122.280 |
95.560 |
30.735 |
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Managerial Remuneration |
0.210 |
0.210 |
0.000 |
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Payment to Auditors |
0.067 |
0.020 |
0.019 |
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Interest |
2.663 |
0.845 |
0.386 |
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Depreciation & Amortization |
0.588 |
0.543 |
0.000 |
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Other Expenditure |
17.183 |
12.314 |
39.000 |
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Total Expenditure |
144.159 |
110.480 |
70.486 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
1.00
|
5.24 |
0.15 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.17
|
7.78 |
0.15 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.53
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1.16 |
0.20 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.10
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0.07 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.35
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4.91 |
4.59 |
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Current Ratio (Current Asset/Current Liability) |
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2.09
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1.39 |
1.11 |
LOCAL AGENCY
FURTHER INFORMATION
Note: CAP CAB
INDIA LIMITED (Transferred from NCT of Delhi to Rajasthan)
Form 8:
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10028381 |
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Corporate
identity number of the company |
U64204RJ1993PLC020552 |
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Name of the
company |
CAP CAB INDIA LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
F-1233, Industrial Area, Bhiwandi, Dist Alwar, Rajasthan, India |
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Type of charge |
Immovable
Property, Book Debts, Movable Property, Floating Charge |
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Particular of charge
holder |
Canara Bank Fountain, Delhi –
110 006, India |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
19.06.2007 |
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Amount secured by
the charge |
Rs. 55.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @1% p.a. over
BPLR of the bank with a minimum of 14.25% p.a. compounded monthly. Terms of repayment Payable on demand Margin 25% against
stocks and 40% against book debts. Extent operation of the charge 100% Others To secure all amounts
payable under enhanced Cash Credit of Rs. 55.000 Millions granted of the
company. |
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Short particulars
of the property charged |
v
Prime
Securities: 1st Charge by way of hypothecation on stocks, raw
materials, finished goods and book debts of the company. v Collateral Security: (V) Hypothecation of
plant and machinery and Fixed assets of the company situated at F-1233, Industrial Area,
Bhiwandi, Dist Alwar, Rajasthan, India v Equitable mortgage of land and building of
factory situated at F-1233, RIICO, Industrial Area, Bhiwandi, Dist Alwar,
Rajasthan, India |
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Date of latest
modification prior to the present modification |
18.06.2007 |
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Particulars of
the present modification |
The cash Credit limit
stands enhanced from Rs. 45.000 Millions to Rs. 55.000 Millions. Interest
rate stands changed to 1% p.a. over BPLR of the Bank with a minimum of Rs.
14.25% p.a. compounded monthly. The collateral security of equitable mortgage
of industrial Plot No. F-1233, RIICO, Industrial Area, Bhiwandi, Dist Alwar,
Rajasthan, India stands extended as detailed. |
|
Name of the company |
CAP CAB INDIA
LIMITED |
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Presented By |
Mr. Jatinder Pal Singh Director |
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1) Date and description of instrument creating the change |
v
Agreement of
hypothecation of goods to secure demand cash, Book Debts, Bills/ Cheque
Purchase, Documentary Credit, Hypothecation of movable/ Fixed assets forming
part of fixed/ Block assets dated 24.05.2005. v
General
Counter Indemnity dated 24.05.2005 v
Letter of
intend of depositing title deeds at the dated 24.05.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Working Capital
limits of Rs. 18.500 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin – 25% in the shape of
FDRS Other - Usance period
not more than 90 days |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank, Punjabi Bagh, New Delhi, India |
Website Details Attached:
About Them:
Subject began its journey twenty years ago in the shape of Capital Cables India Ltd. with a definite purpose- to offer safe and customer- friendly electrical products that would give complete peace of mind to the customers. In twenty years many more things have evolved and most notable among them has been the emergence of the brand CapCab – surely a brand to reckon with in contemporary electrical products. But the objective hasn’t changed a bit. Even today we make products the same purposely way which is indeed their legacy.
Subject has its modern plants in Bhiwadi ( Rajasthan ) where the highly skilled workforce and extremely knowledgeable technical manpower work tirelessly to make products that underline the purpose that has shaped their corporate existence over two decades. In the field of overhead conductors, Ritco, another distinguished member of Subject has its plant also in Bhiwadi, 70 km away from Delhi.
In their plants it is the customers safety and needs that fashion out their
products. From household cables, MCS’s, Modulars & PVC Pipes to overhead
conductors Subject technocrats go even beyond standard quality control measures
to ensure product safety, reliability and customer- friendliness.
In other words, they set their own benchmark of quality and strive to surpass them. Their testing labs are the touchstone of their commitment that has endeared themselves to thousands of satisfied customers.
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. 39.67 |
|
UK Pound |
1 |
Rs. 81.78 |
|
Euro |
1 |
Rs. 58.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
41 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|