Summary Information
|
Company Name |
LS CABLE INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Seong Kuen Kim |
|
Status |
New Company |
Principal Name 2 |
Mr. Yeon Soo Kim |
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Street Address |
3, 3rd Floor, Vasant Arcade,
Sector – B, Pocket - 7, Vasant Kunj,
New Delhi – 110 070 |
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Established Date |
28.09.2007 |
SIC Code |
-- |
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Telephone# |
--- |
Business Style 1 |
Manufacturer |
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Fax # |
--- |
Business Style 2 |
--- |
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Homepage |
--- |
Product Name 1 |
wires and cables |
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# of employees |
--- |
Product Name 2 |
--- |
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Paid up capital |
Rs. 356832500 |
Product Name 3 |
--- |
|
Shareholders |
Foreign holdings (100%) |
Banking |
Export Import Bank, Korea |
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Public Limited Corp. |
No |
Business Period |
1 years |
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IPO |
No |
International Ins. |
-- |
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Public Enterprise |
No |
Rating |
B |
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Related Company --- |
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Relation |
Country |
Company Name |
--- |
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Note |
--- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
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Assets |
Liabilities |
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Current Assets |
376405361 |
Current Liabilities |
66437461 |
|
Inventories |
--- |
Long-term Liabilities |
399700000 |
|
Fixed Assets |
303915769 |
Other Liabilities |
--- |
|
Deferred Assets |
11385766 |
Total Liabilities |
466137461 |
|
Invest& other Assets |
133060745 |
Retained Earnings |
1797680 |
|
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Net Worth |
358630180 |
|
Total Assets |
824767641 |
Total Liab. & Equity |
824767641 |
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Total Assets (Previous Year) |
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P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
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|
Sales |
10686353 |
Net Profit |
1797680 |
|
Sales(Previous yr) |
--- |
Net Profit(Prev.yr) |
--- |
MIRA
INFORM REPORT
|
Report Date : |
13.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
LS CABLE INDIA PRIVATE LIMITED (w.e.f 26.08.2008) |
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Formerly Known As : |
Leading solution cable india private limited |
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Registered Office : |
3, 3rd Floor, Vasant Arcade, Sector – B, Pocket - 7, Vasant Kunj, New Delhi – 110 070 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
28.09.2007 |
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Com. Reg. No.: |
55 -168806 |
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CIN No.: [Company
Identification No.] |
U64200dl2007ptc168806 |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer and exporter
of all types of wires and cables for the Power and Communication Industry |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 1800000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is the Indian subsidiary of the LS Cable Limited, Korea and is
in the process of setting up manufacturing facility for radio frequency cables.
The company has a fairly strong capital base. Trade relations are fair. No
complaints have been heard. The company can be considered for small to mediocre business dealings,
initially. |
LOCATIONS
|
Registered Office/ Factory : |
3, 3rd Floor, Vasant Arcade, Sector – B, Pocket - 7, Vasant Kunj, New Delhi – 110 070 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Seong Kuen Kim |
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Designation : |
Director |
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Address : |
A 402-03 Central Park, Gurgaon, Haryana |
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Date of Birth/Age : |
01.07.1958 |
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Date of Appointment : |
28.09.2007 |
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Name : |
Mr. Yeon Soo Kim |
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Designation : |
Director |
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Address : |
Dong Jak Sant Evill 103-7010719 Shindaebang – Dong, Tongjak – Ku,
Seoul, Korea |
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Date of Appointment : |
28.09.2007 |
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Name : |
Mr. Cheol Woo Lee |
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Designation : |
Director |
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Address : |
Dongbaek Apartment, 106-1406 # 847, Ojeon – Dong, Seoul, Korea |
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Date of Birth/Age : |
04.03.1957 |
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Date of Appointment : |
10.02.2008 |
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Name : |
Mr. Sungsu Hong |
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Designation : |
Additional Director |
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Address : |
A 402-03 Central Park, Gurgaon, Haryana |
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Date of Appointment : |
11.09.2008 |
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Name : |
Mr. Bub Jin Kim |
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Designation : |
Director |
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Address : |
464 Dogok – Dong, Gangnam – Gu, Seoul, Korea |
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Date of Birth/Age : |
04.07.1971 |
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Date of Appointment : |
10.02.2008 |
KEY EXECUTIVES
|
Name : |
Mrs. Deepti Verma |
|
Designation : |
Secretary |
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Date of Appointment : |
27.10.2008 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders (As on 31.03.2008) |
|
No. of Shares |
|
LS Cable Limited |
|
35683249 |
|
JS Cable Company Limited |
|
1 |
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Total
|
35683250 |
List of Allotees:
|
Names of Shareholders (As on 20.03.2008) |
|
No. of Shares |
|
LS Cable Limited |
|
35673250 |
AS ON 30.09.2008
|
Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter
of all types of wires and cables for the Power and Communication Industry |
GENERAL
INFORMATION
|
Bankers : |
Export Import Bank, Korea |
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Facilities : |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
McT House 1 Okhla Centre
Block A, Okhla Inst Area, New Delhi – 110 025, India |
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Tel No.: |
91-11-66622000 |
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Fax No.: |
91-11-66622011-12 |
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Holding Company : |
LS Cable Limited |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
AS ON 30.09.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 400.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35683250 |
Equity Shares |
Rs. 10/- Each |
Rs. 356.833 millions |
Notes:
Of the above 35683249 Equity Shares of Rs.
10/- each are held by LS Cable Limited, Korea, the Holding Company.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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356.833 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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|
1.798 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
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358.631 |
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LOAN FUNDS |
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1] Secured Loans |
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|
0.000 |
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2] Unsecured Loans |
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|
399.700 |
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TOTAL BORROWING |
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399.700 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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758.331 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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303.916 |
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Capital work-in-progress |
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|
133.061 |
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
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|
11.386 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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|
0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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372.587 |
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Other Current Assets |
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|
0.000 |
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Loans & Advances |
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|
3.818 |
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Total
Current Assets |
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376.405 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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65.351 |
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Provisions |
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|
1.086 |
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Total
Current Liabilities |
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66.437 |
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Net Current Assets |
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309.968 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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758.331 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
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|
31.03.2008 |
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Sales Turnover |
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10.686 |
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Other Income |
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0.000 |
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Total Income |
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10.686 |
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Profit/(Loss) Before Tax |
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3.661 |
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Provision for Taxation |
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1.863 |
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Profit/(Loss) After Tax |
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1.798 |
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Export Value |
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1.521 |
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Expenditures : |
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Interest |
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3.075 |
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Operating and Other expenses |
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3.071 |
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Personnel Expenses |
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|
0.879 |
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Total Expenditure |
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7.025 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2008 |
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PAT / Total Income |
(%) |
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16.83 |
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Net Profit Margin (PBT/Sales) |
(%) |
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34.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.44 |
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Return on Investment (ROI) (PBT/Networth) |
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0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.30 |
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Current Ratio (Current Asset/Current Liability) |
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5.67 |
LOCAL AGENCY
FURTHER INFORMATION
FIXED ASSETS
· Freehold Land
· Plant and Machinery
· Computers
· Office Equipments
· Vehicles
Contingent Liabilities:
Capital Commitments comprise estimated amount of
contracts remaining to be executed on capital account and not provided for (net
of advances) Rs. 357.917 millions.
Segmenting Reporting
The company is in the process of setting up
its manufacturing facility for radio frequency cables. As the company operates
in a single business and geographical segment, the reporting requirements for
primary and secondary segment disclosures prescribed by 39 to 51 of accounting Standard -17 Segment
Reporting have not been provided in these financial statements.
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.48.71 |
|
UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
--- |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
--- |
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--PROFITABILIRY |
1~10 |
--- |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
31 |
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 |
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