MIRA
INFORM REPORT
|
Report Date : |
08.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
GUPTA POWER INFRASTRUCTURE LIMITED |
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Formerly Known As : |
GUPTA
CABLES PRIVATE LIMITED |
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Registered Office : |
7 Mangoe Laner No.302 and 303, 3rd Floor, Kolkata – 700001,
West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
09.05.1961 |
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Com. Reg. No.: |
21-25104 |
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CIN No.: [Company
Identification No.] |
U31300WB1961PLC025104 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALG00457C |
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PAN No.: [Permanent
Account No.] |
AAACG9210B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer
and Supplier of Aluminium Cables and Conductors |
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 3000000 |
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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. Financial position is good. Payments are reported as slow
but correct. The company can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
7 Mangoe Laner No.302 and 303, 3rd Floor, Kolkata – 700001,
West Bengal, India |
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Tel. No.: |
91-33-39584017/ 22438441 |
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Fax No.: |
91-33-22438441 |
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E-Mail : |
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Website : |
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Corporate Office : |
Cuttack Road, Bhubaneshwar – 751006, Orissa, India |
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Tel. No.: |
91-674-2313898/ 2312945 |
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Fax No.: |
91-674-2312083/ 2312876 |
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Factory : |
Work 1: Plot No-F/9, IDCO IID Centre, Khurda-752054 Ph :91-674-2313898/ 2312945 Fax :91-674 -2312083/ 2312876
Shed No.18. Phase - V, Sidco mdl. Estate, Gummidipoondi -601201,
Chennai Fax: 91-44-37909900 Works 3: Plot No. 132, Nandnagar Ind. Est. Phase II, VIII. - Mahaukheraganj,
Kasipur -244713, Uttaranchal |
DIRECTORS
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Name : |
Mr. Bhagat Ram Gupta |
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Designation : |
Chairman |
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Address : |
Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa |
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Date of Birth/Age : |
12.11.1943 |
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Date of Appointment : |
05.09.1997 |
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Name : |
Mr. Mahendra Kumar Gupta |
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Designation : |
Managing Director |
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Address : |
Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa |
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Date of Birth/Age : |
01.10.1952 |
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Date of Appointment : |
05.09.1997 |
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Name : |
Mr. Jitendra Mohan Gupta |
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Designation : |
Director Adminstratation |
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Address : |
Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa |
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Date of Birth/Age : |
09.07.1972 |
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Date of Appointment : |
05.09.1997 |
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Name : |
Mrs. Kiran Devi Gupta |
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Designation : |
Director |
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Address : |
Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa |
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Date of Birth/Age : |
18.01.1945 |
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Date of Appointment : |
01.01.2004 |
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Name : |
Mr. Abhishek Gupta |
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Designation : |
Director Commercial |
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Address : |
Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa |
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Date of Birth/Age : |
02.03.1975 |
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Date of Appointment : |
20.12.2006 |
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Other Directorship : |
Director U31300OR1994PTC003570
Director U27203OR2000PTC006119
Director U28999OR2001PTC006627 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2007)
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Names of Shareholders |
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No. of Shares |
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Bhagat Ram Gupta |
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7913 |
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Bhagat Ram Gupta |
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1315 |
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Mahendra Kumar Gupta |
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23018 |
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Mahendra Kumar Gupta |
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1380 |
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Padma Gupta |
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8466 |
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Adi Narayan Gupta |
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11103 |
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Rekha Gupta |
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15800 |
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Rekha Gupta |
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2945 |
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Mahendra Kumar Gupta HUF |
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26400 |
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Mahendra Kumar Gupta HUF |
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29400 |
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Bhagat Ram Gupta HUF |
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11900 |
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Bhagat Ram Gupta HUF |
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12000 |
(As on 30.09.2007)
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Category |
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Percentage
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
and Supplier of Aluminium Cables and
Conductors |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
1500 |
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Bankers : |
Buxi Bazar Branch, Mangalabagh, Cuttack – 753001, Orissa, India
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Das Maulik Mahendra K Agrawal and Company Chartered Accountant |
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Address : |
AT – Block B Monalika Appartment, Old Station Square, Cuttack Road,
Bhubaneshwar – 751006, Orissa, India |
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Tel No.: |
91-674-2312791/ 2313039 |
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Fax No.: |
91-674-2313487 |
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Email : |
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Associates/Subsidiaries : |
U31300OR1994PTC003570
U27203OR2000PTC006119
U28999OR2001PTC006627 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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490000 |
Equity Shares |
Rs.100/- each |
Rs.49.000 Millions |
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10000 |
Preference Shares |
Rs.100/- each |
Rs.1.000 Millions |
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Total |
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Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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294491 |
Equity Shares |
Rs.100/- each |
Rs.29.449 Millions |
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9765 |
Preference Shares |
Rs.100/- each |
Rs.0.977 Million |
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Total |
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Rs.30.426 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
30.426 |
30.426 |
30.425 |
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2] Share Application Money |
280.000 |
180.000 |
70.000 |
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3] Reserves & Surplus |
320.859 |
266.328 |
229.839 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
631.285 |
476.754 |
330.264 |
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LOAN FUNDS |
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1] Secured Loans |
655.821 |
423.322 |
284.399 |
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2] Unsecured Loans |
82.881 |
56.828 |
59.669 |
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TOTAL BORROWING |
738.702 |
480.150 |
344.068 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1369.987 |
956.904 |
674.332 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
102.339 |
87.348 |
56.979 |
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Capital work-in-progress |
126.374 |
7.889 |
4.556 |
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INVESTMENT |
44.061 |
13.624 |
3.953 |
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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 |
386.700
|
264.328 |
218.996 |
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Sundry Debtors |
1024.230
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900.546 |
616.187 |
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Cash & Bank Balances |
206.451
|
238.949 |
159.995 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
177.854
|
49.929 |
33.471 |
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Total
Current Assets |
1795.235
|
1453.752 |
1028.649 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
670.234
|
575.688 |
414.541 |
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Provisions |
28.158
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30.391 |
5.474 |
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Total
Current Liabilities |
698.392
|
606.079 |
420.015 |
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Net Current Assets |
1096.843
|
847.673 |
608.634 |
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MISCELLANEOUS EXPENSES |
0.370 |
0.370 |
0.210 |
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TOTAL |
1369.987 |
956.904 |
674.332 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
5321.878 |
4727.638 |
2670.504 |
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Other Income |
4.742 |
2.843 |
0.000 |
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Total Income |
5326.620 |
4730.481 |
2670.504 |
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Profit/(Loss) Before Tax |
114.887 |
80.730 |
30.210 |
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Provision for Taxation |
39.536 |
30.214 |
0.000 |
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Profit/(Loss) After Tax |
75.351 |
50.516 |
30.210 |
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Expenditures : |
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Raw Material Consumed |
4155.906 |
3557.782 |
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Salaries, Wages, Bonus, etc. |
4.924 |
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Managerial Remuneration |
4.380 |
3.150 |
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Payment to Auditors |
0.105 |
0.117 |
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Interest |
104.356 |
92.980 |
2640.294 |
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Insurance Expenses |
2.596 |
1.904 |
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Power & Fuel |
15.045 |
13.017 |
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Depreciation & Amortization |
5.515 |
4.335 |
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Other Expenditure |
918.906 |
972.061 |
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Total Expenditure |
5211.733 |
4649.751 |
2640.294 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
1.41
|
1.07 |
1.13 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.16
|
1.71 |
1.13 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.05
|
5.24 |
2.78 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.17 |
0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.28
|
2.28 |
2.31 |
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Current Ratio (Current Asset/Current Liability) |
|
2.57
|
2.40 |
2.45 |
LOCAL AGENCY
FURTHER INFORMATION
Financial Results:
The turnover for the year 31st March 2008 was Rs.5321.878
Millions against Rs.4727.638 Millions recorded for the previous year ended 31st
March 2007,. The directors are hopeful for further improvement in subsequent
year as the company has good orders in hand. The company plans to focus its
efforts towards better marketing of its products and continue to among the best
in this field.
Fixed Assets:
- Land
- Plant and
Machinery
- Air
Conditioner
- Computers
- Cycle
- Office
Building and stores
- Electrical
Equipment
- Furniture and
Fixture
- Laboratory Equipment
- Telephone
- Type Writer
- Generator
- Crane
- Water Cooler
- Truck
- Tractor
Website Details:
History:
Subject
[formerly known as Gupta Cables Private Limited] is a trusted and proven name
in the field of electrical transmission & distribution line products. The
company is a recognized Export House and ISO 9001 2000 certified manufacturer
& supplier of all types & sizes of Aluminium & Alloy bare
electrical transmission line conductor, Power & Control Cables, Aluminium
& Alloy wire Rods, PSC Poles. The Company has also its own Power
Infrastructure Division.
Subject during its 30 years existence has evolved and emerged as a key
player in conductor industry through perpetual improvement in quality and
services, constant innovation & technology up-gradation. The company has
the distinction of being among the few mainstream manufacturers of extra high
voltage power conductor in India and is striving hard to develop new generation
energy saving high temperature endurance conductors through utilization of
super conductor technology. With an installed capacity in excess of 35,000 Mts
per annum, the company is fully capable of executing voluminous orders at the
shortest possible time schedule. Besides meeting the domestic market
requirement the company, which incidentally is a recognized Export House status
holder regularly executes bulky export and deemed export supply contracts.
Over the years the company has diversified its activities to manufacture of
Aluminium & Alloy wire Rods, all types of Control & Power Cables under
the name & style of "G-CAB" and PSC Poles with steam curing
facility. The company has its own power infrastructure project division for
carrying out electrification works on turnkey basis.
In view of the unprecedented boom in power sector, the company has set up fully
integrated plants in Kashipur (Utaranchal), Khurda (Orissa), conductor
manufacturing facility in Goomudipondi, Tamil Nadu in addition to its core
business establishment in Bhubaneswar, Orissa. Further, land acquisition for
proposed conductor manufacturing facility in Silvasa is already over.
The company's future looks very bright considering the huge requirement of
transmission line products especially due to the "Power for all by
2012" programme launched by Ministry of Power (MOP).
Management
Senior Leadership Team
Gupta Power is led by an able group of dedicated and highly
experienced professionals. Their expertise and experience from diverse backgrounds
blend well with the organization needs, aptly forming the inspiring force for
one and all in the company. The commitment lines have been drawn well in making
Gupta Power the best managed company in its category in India.
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.49.69 |
|
UK Pound |
1 |
Rs.72.96 |
|
Euro |
1 |
Rs.63.46 |
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
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 |
|