MIRA
INFORM REPORT
|
Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TEGH CABLES PRIVATE LIMITED |
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Registered Office : |
196, Tegh House, Shaheed Bhagat Singh Co-operative Society Limited, J
B Nagar, Andheri Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
15.06.1995 |
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Com. Reg. No.: |
11-89566 |
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CIN No.: [Company
Identification No.] |
U31300MH1995PTC089566 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT14815D |
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PAN No.: [Permanent
Account No.] |
AABCT1718N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Cable Wires |
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 500 |
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Status : |
Restored Operations Recently |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject had been non-operational since last 8 years and restarted
operations from 01.04.2008 as claimed by the management. Trade relations are
fair. Payments are however reported as usually made as per commitments. The company can be considered for small to mediocre business dealings,
initially. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajesh Shinde |
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Designation : |
Accountant |
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Date : |
19.09.2008 |
LOCATIONS
|
Registered Office : |
196, Tegh House, Shaheed Bhagat Singh Co-operative Society Limited,
Andheri (East), Mumbai-400059, Maharashtra, India |
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Tel. No.: |
91-22-28312730/ 28312731/ 32977150/ 65236068/ 32002731/ 28203344/
45/46 |
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Mobile No.: |
91-9820008055 |
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Fax No.: |
91-22-28312732 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
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Location : |
Owned |
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EXPORT OFFICE : |
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Mobile No.: |
+971509364071 (Dubai) / 91-9820343431 (Mumbai) |
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Fax No.: |
91-22-28312732 |
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E-Mail : |
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Branches : |
Located At:- ·
Surat ·
Kolkata ·
Chhattisgarh |
DIRECTORS
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Name : |
Mr. Karandeep Surinder Atal |
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Designation : |
Director |
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Address : |
B-175/ Atal Nivas, Shahid Bhagat Singh Housing Society, J.B Nagar,
Andheri (East), Mumbai-400059, Maharashtra, India |
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Date of Birth/Age : |
16.10.1985 |
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Date of Appointment : |
18.04.2008 |
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Name : |
Mr. Surinder Sigh J Atal |
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Designation : |
Director |
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Address : |
175, Atal Nivas, Bhagatsingh Colony, J B Nagar, Andheri (East),
Mumbai-400059, Maharashtra, India |
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Date of Birth/Age : |
14.11.1953 |
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Date of Appointment : |
15.06.1995 |
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Name : |
Mrs. Gurdeep Surinder Atal |
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Designation : |
Director |
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Address : |
175, Atal Nivas, Bhagatsingh Colony, J B Nagar, Andheri (East),
Mumbai-400059, Maharashtra, India |
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Date of Birth/Age : |
27.09.1957 |
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Date of Appointment : |
15.06.1995 |
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Name : |
Mr. Banpreet Surinder Atal |
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Designation : |
Director |
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Address : |
175, Atal Nivas, Bhagatsingh Colony, J B Nagar, Andheri (East),
Mumbai-400059, Maharashtra, India |
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Date of Birth/Age : |
07.01.1982 |
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Date of Appointment : |
05.07.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 19.09.2008)
|
Names of Shareholders |
No. of Shares |
|
Surendirsingh Atal |
250 |
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Gurdeep S Atal |
750 |
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Total |
1000 |
List of Allotment (As on 24.09.2008)
|
Names of Allottees |
No. of Shares |
|
Surinder Singh Atal |
8000 |
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Banpreet S Atal |
58000 |
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Karandeep S Atal |
15000 |
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Gurdeepkaur S Atal |
18000 |
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Total |
99000 |
Equity Share Breakup (Percentage of Total Equity)
(As on 30.09.2008)
|
Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Cable Wires |
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Products : |
·
House Wires ·
FRLS Wires ·
Flexible Cables ·
Power/ Control Cables ·
Submersible Cables |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
50 |
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Bankers : |
·
Punjab and Sind Bank, Andheri (East), Mumbai, India ·
Standard Chartered Bank, Andheri (East) ·
HDFC Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Virendra R Gandhi and Company Chartered Accountant |
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Address : |
310, Dattani Trade Centre, Chandavarkar Road, Borivali (West), Mumbai
- 400 092, Maharashtra, India |
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Associates/Subsidiaries : |
Tegh Cables |
CAPITAL STRUCTURE
(As on 31.03.2008)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 Million |
||
(As on 30.09.2008)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.100 |
0.100 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.006 |
0.006 |
0.018 |
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TOTAL BORROWING |
0.006 |
0.006 |
0.018 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.106 |
0.106 |
0.118 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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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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DEFERREX TAX ASSETS |
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 |
0.000
|
0.000
|
0.000 |
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Cash & Bank Balances |
0.000
|
0.001
|
0.001 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
0.000
|
0.000
|
0.005 |
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Total
Current Assets |
0.000
|
0.001
|
0.006 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.023
|
0.018
|
0.011 |
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Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
0.023
|
0.018
|
0.011 |
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Net Current Assets |
(0.023)
|
(0.017)
|
(0.005) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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Profit and Loss Account |
0.129 |
0.123 |
0.123 |
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TOTAL |
0.106 |
0.106 |
0.118 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
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Interest on FDR |
0.000 |
0.006 |
0.000 |
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Total Income |
0.000 |
0.006 |
0.000 |
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Profit/(Loss) Before Tax |
(0.006) |
0.000 |
(0.045) |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
(0.006) |
0.000 |
(0.045) |
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Expenditures : |
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Bank Charges |
0.001 |
0.000 |
0.003 |
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Audit Fees |
0.005 |
0.006 |
0.011 |
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Loss on Sale of Car |
0.000 |
0.000 |
0.031 |
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Total Expenditure |
0.006 |
0.006 |
0.045 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00 |
(750.00) |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.06)
|
0.00 |
(0.45) |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.29
|
0.24 |
0.29 |
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Current Ratio (Current Asset/Current Liability) |
|
0.00
|
0.06 |
0.55 |
LOCAL AGENCY
FURTHER INFORMATION
Notes:
The Registered office of the company has been shifted form 105, Mahavir
Building, 44/46, Popatwadi, Kalbadevi Road, Mumbai-400002, Maharashtra, India
to present address w.e.f. 18.04.2008
Trade References
·
Kalpatru Properties
·
Glenmark Pharma
Bankers Charges
Report as per Registry
|
Name of the company |
TEGH CABLES PRIVATE LIMITED |
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Presented By |
Jointly company and Chargholder |
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1) Date and description of instrument creating the change |
Hypothecation of goods to secure Demand Cash Credit dated 03.07.1998 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 1.000 Million |
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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 |
Stock of electrical cables which now or hereafter from time to time be
stored at the company’s godowns or premises at Sai Warehouse, Denor Bus
Depot, Chembur or wherever else the same may be. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
(i) Security to be available as first charge (ii) Interest @ 8.5% over RBI rate with a minimum of 17.5% p.a. or
such other rates as fixed by the bank form time to time. (iii) Security to cover principal amount together with interest,
costs, charges, expenses etc. (iv) Bank to have power of entry, power to appoint receiver, power of
sale etc. |
|
5) Name and Address and description of the person entitled to the charge.
|
Punjab and Sind Bank, Andheri (East), Mumbai |
|
6) Date and brief description
of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
Not Applicable |
M/S
TEGH CABLES
(Sister
Concern)
Balance
Sheet
As
on 31.03.2008
|
SOURCES OF FUNDS |
|
|
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
13.740 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
13.740 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.510 |
|
|
2] Unsecured Loans |
|
|
21.600 |
|
|
TOTAL BORROWING |
|
|
22.110 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
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|
35.857 |
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|
|
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|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.253 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
6.455 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
60.839 |
|
|
Sundry Debtors |
|
|
141.200 |
|
|
Cash & Bank Balances |
|
|
2.533 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
5.223 |
|
Total
Current Assets |
|
|
209.795 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
182.646 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
182.646 |
|
|
Net Current Assets |
|
|
27.149 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
35.857 |
|
PROFIT AND LOSS
ACCOUNT FOR YEAR ENDED 31.03.2008
|
PARTICULARS |
|
|
31.03.2008 |
|
|
Sales Turnover |
|
|
442.061 |
|
|
Other Income |
|
|
1.492 |
|
|
Total Income |
|
|
443.553 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
5.656 |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
5.656 |
|
|
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
|
401.049 |
|
|
Office Expenses |
|
|
0.131 |
|
|
Electricity Expenses |
|
|
0.174 |
|
|
Commission |
|
|
2.250 |
|
|
Salaries, Wages, Bonus, etc. |
|
|
4.286 |
|
|
Managerial Remuneration |
|
|
|
|
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Interest |
|
|
2.486 |
|
|
Depreciation & Amortization |
|
|
0.523 |
|
|
Other Expenditure |
|
|
434.888 |
|
Total Expenditure |
|
|
437.897 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2008 |
|
PAT / Total Income |
(%) |
|
|
1.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
1.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
2.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
14.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.15 |
AS PER WEBSITE:
PROFILE:
Subject take this privilege to introduce themselves as the Authorised Distributor
of M/s. POLYCAB WIRES PRIVATE LIMITED One of the manufacturers of Wires and
Cables in the country having the highest turnover among all the Cables
Manufacturers for the financial year 2006-2007
As global technology distribution is becoming more customer focused to help
resellers and manufacturers succeed, Subject are at the forefront of this
evolution by continuously implementing faster and more innovative ways to help
resellers, manufacturers and others to meet their customer's demands.
Started in 1980 and till date they have focused on high value added
services to the customer by the day to day marketing, logistics and sales
department and by continuously upgrading the self according to the changing
scenario, they have enhanced the clientele by continuously conducting market
surveys and getting adapted to the changing trend
The cliente llist indudes the growing sectors like Steel, Power,
Petrochemicals, Defence, Pharmaceuticals, Automobile, FMCG, Textile, Cement,
Chemical, Reputed Builders, Developers, Contractors, Electrical Engineering
Companies and many more. They focus on high value added, high technology
products and are able to completely cater to the customized needs of the
clients by customer value, customer cost, customer convenience and customer
communication. They give value added service to the clients by registering the
self to “Excise” which allows them to pass on subsequent Modvat to consumers
and as “Polycab” being situated in Daman which is on absolute Tax free zone.
They are please to inform that since the manufacturing unit is located
in Daman, will be provided with a tax benefit against form “C” which would
definitely give a price advantage. They assure to give the clients not only the
best prices but also good service and satisfaction. They now look forward to
the favorable consideration and a line in confirmation is sincerely solicited.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.52 |
|
UK Pound |
1 |
Rs.75.08 |
|
Euro |
1 |
Rs.63.72 |
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 |
|