MIRA
INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRIC CABLE INDUSTRIES |
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Registered Office : |
E - 808, DSIDC Industrial Area, Narela, New Delhi – 110 040 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1978 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Electric Wires and 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 20000 |
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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 concern having satisfactory track.
Trade relations are fair. Payments are reported as slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Deepak Gupta |
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Designation : |
Partner |
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Date : |
07.10.2008 |
LOCATIONS
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Registered Office : |
E - 808, DSIDC Industrial Area, Narela, New Delhi – 110 040, India |
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Tel. No.: |
91-11-64580112/113 |
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Mobile No.: |
91-9810263626 |
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Fax No.: |
91-11-27787816/23869844 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory : |
Alipur, New Delhi -1140 036, India |
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Area : |
300 Sq.Mtrs |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Deepak Gupta |
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Designation : |
Partner |
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Date of Birth/Age : |
33 years |
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Qualification : |
Graduate |
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Experience : |
11 years |
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Name : |
Mrs. Rajesh Gupta |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Electric Wires and Cables. |
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Products : |
An ISO 9001 : 2000 certified
Concern Approved by Bureau of Indian Standards and certified as ISI marked. Recognized certificates such as IS: 694/1990, IS:1554 (Part-I)/1998, IS
5950/1984 · Airfield Lighting Cables · Asbestos Braided Cables · Auto Cables · Battery Cables · Co-axial Cables · Compensating Cables · Domestic Wire · Equipment Wire · Fibre Glass Braided Cables · Flat Cables up to 30 Cores · FR, FRLS and HFFR Cables · High Temperature Cables · High Temperature Cables · Hook-up Wire · Instrumentation Cables · Jumber Wire · L.T. Control Cables · L.T. Power Cables · Microphone Cables · P.V.C. Drop Wire · Radio Frequency Cables · Railway Signalling Cables · Ribbon Cables · Round Flexible Multicore Cables · Rubber Cables (VIR/TRS, EPR/PCP/CSP) · Screened/Shielded Cables · Ship Wiring Cables · Shot Firing Cables · Silicon Rubber Cables · Slwo Burning Cables · Submarine Cables · Submersible Cables · Teflon Coated Cables · Telephone Cables · T.V. Aerial Cables · Welding Cables (TRS/HOFR) · Winding Wire · X-Ray Cables · Trailing Cables (VIR/TRS, EPR/PCP/CSP) |
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Brand Names : |
“ECI” |
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Exports : |
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Countries : |
African |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increased production by 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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Customers : |
· Asian Brown Boveri Limited · Bharat Aluminium Concern Limited · Bharat Earth Movers Limited, Mysore · Bharat Heavy Electricals Limited · Centre For Advanced Technology · Central Power And Works Department, Delhi · Central Railway, Mumbai · Chennai Port Trust · Chhukha Hydro Power Corporation, Limited · Dabur India Limited, Baddi · Eastern Railway · Goetze (India) Limited · Gujarat Mineral Development Corporation, Limited · Hindustan Shipyard Limited, Visakhapatnam · Hindustan Zinc Limited · Indian Drugs And Pharmaceuticals Limited · Indian Iron And Steel Concern Limited · Indian Ordance Factory, Jabalpur · Indian Oil Corporation Limited, Mathura · Nathpa Jhakri Power Corporation Limited · National Aluminium Concern Limited · National Fertilizers Limited · National Hydro Electric Power Corporation Limited · National Thermal Power Corporation Limited · Neyveli Lignite Corporation, Neyveli · Northern Railway, New Delhi · Oil And Natural Gas Commission, Mumbai · Punj Lloyd Limited, New Delhi · Punjab State Electricity Board, Patiala · Rajasthan State Miens And Minerals Limited · Siemens Limited, New Delhi · Sirpur Paper Milsls Limited · South Central Railway, Secunderabad · South Eastern Railway, Kolkata · Sportaking India Limited, Ludhiana · Supreme Paper Mills Limited · Tamil Nadhu State Electricity Board ·
Tata Iron And Steel Company Limited, Jamshedpur,
Orissa |
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No. of Employees : |
20 |
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Bankers : |
ING Vysya Bank limited |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.000 millions |
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Borrowed : |
---- |
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Total : |
Rs. 4.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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38.000 |
35.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs.40.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
They are a renowned concern engaged in production of all kinds of wires
and cables under the brand name of 'ECI'.
Subject was founded in the year 1978, and for the last few decades, they have
been exhibiting a brilliant performance as an industry innovator and undisputed
leader. Acclaimed by thousands of clients from all over the country, they are
today the most respected manufacturer
and exporter in their field. With a reputation for always adhering to
supreme grade quality standard, they are an ISO 9001:2000 certified concern. The most extensive range of
products they offer include All Types
of Cables and Wires such as Airfield Lighting Cables, Auto Cables, Asbestos
Braided Cables, Battery Cables, Coaxial Cables, Compensating Cables, Copper
Control Cables, Domestic Cables, Fiber Glass Braided Cables, FR, FRLS and HFFR
Cables, Flat Cables, Hook Up Wires, High Temperature Cables and many more.
The products are all tested and approved by Bureau of Indian Standards
and certified as ISI marked as
per the relevant standards. Subject has been granted various recognized
certificates such as IS: 694/1990,
IS: 1554 (Part-I)/1998, IS 5950/1984, etc. All these
accolades, certifications and approvals they have achieved reflect their
quality consciousness and technical expertise in developing innovative and
extraordinary quality products which offer the best performance. This committed
attitude towards quality and their inherent passion to be perfectionist have
earned them today a massive market base all over the country.
Product Range
Subject is one of the most prominent and leading manufacturer and
exporter of All Types of Cables and
Wires. Their products are available under the brand name of 'ECI' and
tested and approved by several highly reputed research institutes. The product
portfolio of their concern comprises of the following range:
· Airfield Lighting Cables
· Asbestos Braided Cables
· Auto Cables
· Battery Cables
· Co-axial Cables
· Compensating Cables
· Domestic Wire
· Equipment Wire
· Fibre Glass Braided Cables
· Flat Cables up to 30 Cores
· FR, FRLS and HFFR Cables
· High Temperature Cables
· High Temperature Cables
· Hook-up Wire
· Instrumentation Cables
· Jumber Wire
· L.T. Control Cables
· L.T. Power Cables
· Microphone Cables
· P.V.C. Drop Wire
· Radio Frequency Cables
· Railway Signalling Cables
· Ribbon Cables
· Round Flexible Multicore Cables
· Rubber Cables (VIR/TRS, EPR/PCP/CSP)
· Screened/Shielded Cables
· Ship Wiring Cables
· Shot Firing Cables
· Silicon Rubber Cables
· Slwo Burning Cables
· Submarine Cables
· Submersible Cables
· Teflon Coated Cables
· Telephone Cables
· T.V. Aerial Cables
· Welding Cables (TRS/HOFR)
· Winding Wire
· X-Ray Cables
· Trailing Cables (VIR/TRS, EPR/PCP/CSP)
Some of their other premium quality products include Computer Cables, Lift
Cables (Flat Cables up to 30 Cores X 0.75 Sq.MM), Sismic Cables, Elastomeric 11
KV HT Cables, etc.
Quality
Subject is a quality driven concern with the belief that maintaining supreme
grade quality standard is the one and only way to win the trust of the valued
customers. They have an inherent passion for perfection and strive their best
to upgrade the quality standard of their existing products through innovation
and continuous research. They are an ISO 9001:2000 certified concern for the
last seven years and their 'ECI' brand cables are inspected, tested and
approved by several testing, quality control and research institutes before
they are being delivered to the clients. In addition, the products are also
tested at their own in-house quality testing lab which is manned by qualified
and competent electrical engineers. Only best quality raw materials are used and
quality inspection is conducted regularly right from the initial stage of raw
material processing, through the various stages of production, and right up to
the finished products.
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Cables are Approved by |
Cables are Tested in the following |
Cables are Inspected by |
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Tata Consultancy Engineers |
Shriram Institute for Industrial REsearch, Delhi |
Airports Authority of India |
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M.N. Dastur and Concern limited Consulting Engineers |
Central Power Research Institute, Ghaziabad |
Department of Atomic Energy |
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Desein Consultancy Engineers |
C.R.I. Dehradun. + Central lab, Ghaziabad |
D.G.S. and D, New Delhi, + New Delhi |
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Projects and Development India Limited |
National Test House, Kolkata |
Mecon, Ranchi |
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Central Projects Research Institute |
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Metallurgical and Engineering Consultants (India) Limited |
NROL, Chandigarh. + Quality Control, Ludhiana |
Nevyeli Lignite Corporation Limited Neyveli |
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Directorate General of Mines Safety |
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Directorate of Technical Development and Production (Air) |
Regional Testing Centre (NR), New Delhi |
NPCIL, Noida, + NTRC, Noida |
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Office of the Directorate of Radio Consultancy and Development Unit |
Central Institute of Road Transport, Pune |
RITES, New Delhi. + RDSO, New Delhi. |
Infrastructure
The most valuable wealth of Subject is its well built infrastructural
facilities. They are empowered with a captive factory well equipped with all modernized
plants and machinery required in their field. The manufacturing unit houses
most advanced facilities for production, a hi-tech testing lab, one
sophisticated R and D unit and also a large warehousing facility. They believe
that the ultimate parameters of their concern's growth and progress rest upon
their outlook into the future - a future fraught with greater targets, stiffer
competition and more dedication. They lay utmost emphasis upon upgrading their
technologies with the changes of time and technology so that they can prepare
their selves to accept the challenges of tomorrow.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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46 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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