MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
POLYCAB WIRES PRIVATE LIMITED |
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Registered Office : |
1st Floor, HICO House, 771, Pandit Satwalekar
Marg, Mahim (West), Mumbai - 400 016, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.01.1996 |
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Com. Reg. No.: |
11-96105 |
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CIN No.: [Company
Identification No.] |
U31300MH1996PTC096105 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP15167F |
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PAN No.: [Permanent
Account No.] |
AAACP6474E |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing of LT PVC / XLPE power, control, instrumentation
cables, flexible, house wires, ACSR, AAAC, Ariel Bunched wires. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 17000000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed cable manufacturers having fine track. The company is controlled by Jaisinghani family whose means are large. Financial position is good. Market share is important. Payments are usually correct and as per commitments. The company can be considered good for any normal business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Dayashankar Patel |
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Designation : |
Finance Manager |
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Date : |
20.09.2008 |
LOCATIONS
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Registered Office : |
1st Floor, HICO House, 771, Pandit Satwalekar Marg, Mahim (West), Mumbai - 400 016, Maharashtra, India |
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Tel. No.: |
91-22-2432 7070 – 74/ 75/ 24329118/ 24362199 |
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Fax No.: |
91-22-2432 7075 / 432 2141 |
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E-Mail : |
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Website : |
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Location : |
4 Floars ( Owned) |
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Factory 1 : |
74/7-8, Daman Industrial Estate, Village Kadaia, Daman – 396 210, Union Territory |
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Tel. No.: |
91-260-2220422/25/28/257104/6/7/257115 |
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Fax No.: |
91-260-2221009/257109 |
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E-Mail : |
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Location : |
Owned |
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Branches : |
R-898, New Rajendra Nagar, Ground Floor, New Delhi - 110 060 Tel. No. 91-11-25842338/25842340/25773194/25773198 Fax No. 91-11-258423385 E-mail. polycab@del3.vsnl.net.in 51, B. V. K. Iyengar Road, Bangalore - 560 053, Karnataka Tel. No. 91-80-2263703/2263467 Fax No. 91-88-2263703 L-2, Palladium, Elamakkara Road, Ernakulam, Kochi - 682 026, Kerla Tel. No. 91-484-2337341 Fax No. 91-484-2337341 258, Kilpauk Garden Road, Kilpauk Regency, Chennai – 600010, Tamilnadu, India Tel. No. 91-44-26443100/26600680 E-mail : polycab@md5.vsnl.net.in Rishi Agencies, 7-1-869, 1st Floor, Secunderabad – 500003 Tel. No. : 91-40-27704815/16/17/27703917 Fax No. : 91-40-27704818 E-mail : omkar@pol.net.in 18, Hari Bhakti Extension, Old Padra Road, Race Course Circle, Baroda – 390007, Gujarat Tel. No. : 91-265-2310077 Fax No. : 91-265-2336862 E-mail : pwplbrd@vsnl.com |
DIRECTORS
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Name : |
Mr. Ramesh T. Jaisinghani |
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Designation : |
Director |
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Address : |
701/2, Salisbury Park, 82, Hill, Bandra (West), Mumbai – 400052 |
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Date of Birth/Age : |
07.05.1956 |
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Date of Appointment : |
10.01.1996 |
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Name : |
Mrs. Raju G. Jaisinghani |
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Designation : |
Director |
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Address : |
8, Morning Glory, St. Andrews Road, Bandra (West), Mumbai – 400052 |
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Date of Birth/Age : |
05.09.1948 |
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Date of Appointment : |
10.01.1996 |
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Name : |
Mrs. Suhasini S. Shah |
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Designation : |
Director |
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Address : |
8, Ramjharukha, S V Road, Andheri (West), Mumbai – 400058 |
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Date of Birth/Age : |
22.11.1947 |
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Name : |
Mr. Inder T. Jaisinghani |
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Designation : |
Director |
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Address : |
701/2, Salisbury Park, 82, Hill, Bandra (West), Mumbai – 400052 |
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Date of Birth/Age : |
29.03.1952 |
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Date of Appointment : |
20.12.1997 |
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Name : |
Mrs. Reina R. Jaisinghani |
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Designation : |
Director |
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Address : |
701/2, Salisbury Park, 82, Hill, Bandra (West), Mumbai – 400052 |
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Date of Birth/Age : |
11.08.1961 |
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Date of Appointment : |
20.12.1997 |
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Name : |
Mr. Shirish S. Shah |
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Designation : |
Director |
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Address : |
8, Ramjharukha, S V Road, Andheri (West), Mumbai – 400058 |
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Date of Birth/Age : |
02.03.1946 |
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Date of Appointment : |
20.07.1998 |
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Name : |
Mr. Ajay Thakurdas Jaisinghani |
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Designation : |
Whole Time Director |
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Address : |
17/6, Khaira, Bhavan, R.A Kidwai Road, Wadala, Mumbai-400031,
Maharashtra, India |
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Date of Birth/Age : |
12.01.1952 |
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Date of Appointment : |
01.09.2007 |
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Name : |
Mr. R S Vaidyananthan |
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Designation : |
Additional Director |
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Address : |
Room No. 1, 2nd Floor, Arun Sion CHS, Plot No. 280, Sion
(East), Mumbai-400022, Maharashtra, India |
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Date of Birth/Age : |
20.12.1950 |
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Date of Appointment : |
01.03.2007 |
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Name : |
Mr. Bharat Ajay Jaisinghani |
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Designation : |
Additional Director |
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Address : |
17/6, Khaira, Bhavan, R.A Kidwai Road, Wadala, Mumbai-400031,
Maharashtra, India |
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Date of Birth/Age : |
21.04.1984 |
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Date of Appointment : |
02.04.2007 |
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Name : |
Mr. Nikhil Thakurdas Jaisinghani |
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Designation : |
Additional Director |
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Address : |
701/2, Salisbury Park, Palimala Road, Pali Hill, Bandra (West),
Mumbai-400050, Maharashtra, India |
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Date of Birth/Age : |
04.12.1985 |
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Date of Appointment : |
02.04.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Dayashankar Patel |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.08.2005
|
Names of Shareholders |
No. of Shares |
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Ramesh T. Jaisinghani |
1192600 |
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Raju G. Jaisinghani |
200400 |
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Suhasini S. Shah |
10400 |
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Inder T. Jaisinghani |
2384600 |
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Reina R. Jaisinghani |
1192000 |
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Kartik S. Shah |
20000 |
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Total |
5000000 |
As on 24.03.2007
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List of Allottees |
No. of Shares Allotted |
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Ramesh T. Jaisinghani |
7155600 |
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Raju G. Jaisinghani |
1202400 |
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Suhasini S. Shah |
62400 |
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Inder T. Jaisinghani |
14307600 |
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Reina R. Jaisinghani |
7152000 |
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Kartik S. Shah |
120000 |
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Total |
30000000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of LT PVC / XLPE power, control,
instrumentation cables, flexible, house wires, ACSR, AAAC, Ariel Bunched
wires. |
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Products : |
House wires Normal PVC / FRLS PVC insulated / 0-Halogen Flexible cables Panel board wires Multicore cable Flat control / Power cable Submersible cable Lift / Trailing cables LT 1100 volt grade
cables PVC insulated power cables - copper / aluminium PVC insulated control cables - copper XLPE insulated power cables - copper / aluminium XLPE insulated control cables - copper Instrumentation cables LDPE / PVC insulated control cables LDPE / PVC insulated pair / traid cables LDPE / PVC insulated thermocouple extn and compensating cable LDPE / PVC insulated quard cables Railway Signalling
cables approved by R.D.S.O. and Rites Quard cables Core cables LT 1100 Volt Grade Rubber Cables EPR insulated / PCP or CSP sheathed cables Silicon insulated cables TRS / Trailing cables Welding Cables Mining Cables Fire Survival cables Control / Power / Instrumentation Zero Halogen (Halogen) Free cables Structure cables Lan cables RF - 50 Ohms / 75 Ohms cables RG Co-axial cables Telephone cables Switchboard cables (armoured / unarmoured) Jelly filled - PIJF cables upto 1200 pairs PVC Compound PVC compound for cables PVC compound for shoes PVC master batches H.R. / F. R. / FRLS compounds H.T. - XLPE cables from 11 kV to 33 kV voltage cable Aerial bunched cables Aluminium alloy conductors All aluminium + ACSR + AAAC All PVC cables can be given in normal PVC type 'A' or type 'C' insulation and FR or FRLS sheaths. Cables as per all standards can be offered. 0-Halogen fire survival Winding submersible wires Autocable / battery cable harness
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Exports : |
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Products : |
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Countries : |
· UK · Dubai · European Countries |
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Imports : |
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Products : |
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Countries : |
·
Australia ·
Sweden ·
Dubai |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Electrical Cable & Wires |
KM |
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250000 |
197514 |
GENERAL
INFORMATION
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Customers : |
v ABB Limited v ACC Babcock Limited v Aditya Cement Limited v Advani Oerlikon Limited v AE Company Limited v Aluminium Industries Limited v Amit Spinning Industries Limited v Andrew Yule & Company Limited v Apollo Tyres Limited v Ashima Spin Fab Limited v Asian Electronics Limited v Atic Industries Limited v Atul Products Limited v Best & Crompton India Limited v Bhadrachalam Paper Boards Limited v Bhilai Steel Plant v Birla Cellulosic Limited v Birla Copper Limited v Birla Jute & Veatch India Private Limited v Blue Star Limited v Bokaro India Limited v Bokaro Steel Plant v Boots India Limited v Buckau Wolf India Limited v Bharat Heavy Electricals Limited v BSES Limited v Bajaj Auto Limited v Bajaj Electricals Limited v Ballarpur Industries Limited v BASF (India) Limited v Batliboi Limited v Bayers India Limited v Bechtel International Limited v Bennet Coleman & Company Limited v Bermaco Energy Systems Limited v City Development Corporation (CIDCO) v CMS Computers Limited v Cochin Refineries Limited v Coimbatore Cots & Coatings Limited v Crompton & Greaves Limited v Cadbury India Limited v Caprihans India Limited v Century Denim Limited v Century Enka Limited v Chemox Chemicals Limited v Ciba CKD Biochem Limited v Dhabhol Power Company v Damodhar Tech International v Datar Switchgear Limited v Deepak Fertilisers Limited v Deepharma Limited |
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No. of Employees : |
1500 |
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Bankers : |
v State Bank of India, IFB, Sakinaka, Andheri, Mumbai – 400 072, Maharashtra, India v State Bank of India, Daman v ICICI Bank Limited, ICICI Center, 163, HT Parekh Marg, Backbay Reclamation, Churchgage, Mumbai-400020, Maharashtra, India v CITI Bank N.A, Citigroup Centre, Bandra Kurla Complex, G Block, Bandra (East), Mumbai-400051, Maharashtra, India v Export Import Bank of India, Centre One Building, 21st Floor, World Trade Centre, Cuffe Parade, Mumbai-400001, Maharashtra, India v Standard Chartered Bank, 90, M.G. Road, Fort, Mumbai-400001, Maharashtra, India v The Hongkong and Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai-400001, Maharashtra, India |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Shashikant J. Shah and Company Chartered Accountants |
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Address : |
104, Sharda Chambers, 15, New Marine Lines, Churchgate,
Mumbai – 400 020, Maharashtra |
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Tel. No.: |
91-22-22017563 |
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Fax No.: |
91-22-22017563 |
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E-Mail : |
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Associates/Subsidiaries : |
v Jaisingh Wires Private Limited v Polycab Cables Private Limited v Polycab Industries Private Limited v Polycab Industries, Daman v Thermoflex Cable Industries v Bharat Plastic Industries v D. K. Plastic Industries v Bharat Cable Industries v Polycab Sales & Services |
CAPITAL STRUCTURE
As on 23.08.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80000000 |
Equity Shares |
Rs. 10/- each |
Rs. 800.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60000000 |
Equity Shares |
Rs. 10/- each |
Rs. 600.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
600.000 |
300.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
2980.264 |
1663.402 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
3580.264 |
1963.402 |
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LOAN FUNDS |
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1] Secured Loans |
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1868.832 |
1348.348 |
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2] Unsecured Loans |
|
414.820 |
424.559 |
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TOTAL BORROWING |
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2283.652 |
1772.907 |
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DEFERRED TAX LIABILITIES |
|
24.501 |
23.821 |
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TOTAL |
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5888.417 |
3760.130 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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470.429 |
329.943 |
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Capital work-in-progress |
|
9.192 |
65.585 |
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INVESTMENT |
|
61.672 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2542.740 |
1844.192 |
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Sundry Debtors |
|
5052.400 |
3287.958 |
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Cash & Bank Balances |
|
201.007 |
344.019 |
|
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Other Current Assets |
|
0.000 |
0.000 |
|
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Loans & Advances |
|
981.117 |
468.415 |
|
Total Current Assets |
|
8777.264 |
5944.584 |
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Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
2573.240
|
2039.791 |
|
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Provisions |
|
856.900
|
540.194 |
|
Total Current Liabilities |
|
3430.140 |
2579.985 |
|
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Net Current Assets |
|
5347.124 |
3364.599 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.003 |
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TOTAL |
|
5888.417 |
3760.130 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
17112.137 |
10849.341 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
17112.137 |
10849.341 |
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|
Profit/(Loss) Before Tax |
|
2279.326 |
1161.886 |
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Provision for Taxation |
|
0.000 |
0.000 |
|
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Profit/(Loss) After Tax |
|
2279.326 |
1161.886 |
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Earnings in Foreign Currency : |
|
59.626 |
39.412 |
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Export Earnings |
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Expenditures : |
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Interest |
|
174.517 |
75.947 |
|
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Depreciation & Amortization |
|
30.062 |
17.606 |
|
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Other Expenditure |
|
14628.232 |
9593.902 |
|
Total Expenditure |
|
14832.811 |
9687.455 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
13.32 |
10.71 |
|
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Net Profit Margin (PBT/Sales) |
(%) |
|
13.32 |
10.71 |
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Return on Total
Assets (PBT/Total Assets} |
(%) |
|
24.65 |
18.52 |
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Return on
Investment (ROI) (PBT/Networth) |
|
|
0.64 |
0.59 |
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|
Debt Equity Ratio (Total
Liability/Networth) |
|
|
1.59 |
2.22 |
|
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|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
|
2.56 |
2.30 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Hindalco Sterlite
·
Bajaj Auto Limited
·
Atul Product Limited
Business
The company also manufactures all cables, flexible and house wires in FRLS variety (Flame Retardant Low Smoke) which prevents propagation of fire.
The company is exclusively engaged in the business segment of cables and wires only. Subject’s export turnover is less than 10% of total turnover.
The company is engaged in manufacturing, buying, selling, designing, importing, exporting, processing, annealing and stranding continuous casting of Aluminium, Copper, Steel, Irons and Metals of all kinds including alloys and metal composites, all kinds of insulated wires and cables sheathed wires – P.V.C. Cables, flexible wire and cable power and control cables, XLPE, FRLS, cables, instrumentation and signalling cables.
The company's Daman plant has been equipped with some of the latest and most advanced machinery imported from Europe, USA and Far East.
The company has one of the best laboratories in the country equipped with all the required test equipments.
The company has been awarded with "ISO-9002" Certification from Underwriters Laboratory, USA.
The company is one of the leading name in wire and cables with its proven track record of over three decades.
profile
The company is now one of the largest manufacturer for L. T. Power/Control, Instrumentation, House wires and Flexible, Auto/Battery, Submersible, ACSR, AAAC, Aerial Bunched Cables, H. T. Cables (upto 33 kcv), Rubber Cables, Dry/Jelly Filled Telecommunication Cables, CATV, LAN, Data and Communication Cables and coming in Optical Fibre Cables.
The company has over 35000 KM Limited Power/Control and HT Cables, 32 LCKM Dry/Jelly Filled Cables and 1.800 millions coils of house wires and flexible capacity per annum. And has been rated as one of the most prompt wires and cable company for delivers by several of its valued customers. The company has highly experienced, qualified and dedicated professional with strong adherence to the quality management system. Since Daman being a tax free zone, the customers had benefit of NIL Sales Tax. The company also has wide network of authorised distributors and dealers to cater to all the company's requirements.
The company combines material availability with technical expertise to develop the most cost effective cables and wires in order to meet the highly competitive international market. Backed by its dedicated Export Department and its representative in various countries, the company has ability to dispatch material and ensure that the immediate and ongoing needs of the clients are met world wide. In fact it in first and only country in India to had supplied material in the U.K. market in its own brand name.
The company is Registered Small Scale Industry.
The company has been awarded with ISO 9002 Certification in the year 1998-99 by Underwriters Laboratories Inc., USA for the quality system.
The company's fixed assets of important value include
· Freehold land
· Buildings
· Plant & machinery
· Electrical installation
· Dies,
· Furniture
· Fixtures & office equipments
· Motor car.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U31300MH1996PTC096105 |
|
Name of the
company |
POLYCAB WIRES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
1st Floor, HICO House, 771, Pandit Satwalekar Marg, Mahim (West), Mumbai - 400 016, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
ICICI Bank Limited, ICICI Center, 163, HT Parekh Marg, Backbay Reclamation, Churchgage, Mumbai-400020, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
a)
Joint Deed
of Hypothecation; and b)
Inter-Se
Agreement (Collectively
constitute a single charge for Rs. 3200.000 Millions) |
|
Date of
instrument Creating the charge |
04.03.2008 |
|
Amount secured by
the charge |
Rs. 3200.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
charged on the outstanding in the said Accounts at such rate or rates as may
be determined by the said Banks from time to time. Terms of Repayment
On Demand Margin The company shall
maintain such security margins as may be stipulated by the member banks. Extent and
Operation of the charge Hypothecation by
way of first pari passu charge on Company’s current assets and movable properties,
to secure as a continuing security for repayment of credit facilities of Rs.
3200.000 Millions by the company to ICICI bank Limited. Others a)
the charge
created /to be created by the company on the current assets, and movable
properties shall rank pari passu inter se the banks for all purpose and to
all intents without any priority over the other or others b)
this
security shall be a continuing security for the balance form time to time due
to the said banks and each of them under the said account(s) |
|
Short particulars
of the property charged |
a)
The whole of
the current assets of the borrower namely stock of raw materials, stock in
process, semi finished and finished goods, stores and spares not relating to
plant and machinery (Consumables stores and spares) bills receivables and
book debts and other movables etc and b)
The whole of
the Movable properties (save and except Current Assets) |
WEBSITE DETAILS
COMPANY PROFILE
Polycab is one of
the leading names in Wires & Cables with its proven track record of over
three decades. The company has achieved a consistent growth of more than 25%
per annum. This growth is attributed to company’s commitment towards “Total
Customer Satisfaction” in terms of Quality and Services for the entire range of
its products. Dedicated towards continuous improvements, the company expanded
its facilities from Halol and Baska to setup an ultra modern state-of-the-art
plant at Daman with machinery & equipment from Europe & USA in approx.
Rs. 0.400 Millions sq. ft. area, in 1997. The plant is equipped with one of the
best laboratories in the country.
The company is, now
one of the largest manufacturer of L.T. Power/Control, Instrumentation, House
wires & Flexible, Auto/ Battery, Submersible, ACSR, AAAC, Aerial Bunched
Cables, H.T. Cables (upto 33 kV), Rubber Cables, Dry/Jelly Filled
Telecommunication Cables, CATV, LAN, Data & Communication Cables and coming
in Optical Fibre Cables.
Polycab is an ISO:
9002 certified company with Underwriters Laboratories USA, a certifying body
having more than 50 years experience of wires & cables. POLYCAB has to its
credit, approvals from most of the leading project consultants, architects and
decision makers.
In order to improve
service further, the company is now operating on Client-Server technology based
“Enterprise Resource Planning” Software linked to its bases in Daman &
Bombay and branch offices country wide.
The company has an
annual capacity of over 35000 km LT Power/Control & HT Cables, 50 lckm
Dry/Jelly Filled Cables and 40 lac coils of house wires & flexibles and has
been rated as one of the best company in the Wires & Cables industry for
prompt delivering.
The company has
highly experienced, qualified, and dedicated professionals with strong adherence
to the quality management system. Since Daman being a tax free zone, the
customers have benefit of NIL Sales Tax. The company also has a wide network of
authorised distributors and dealers to cater to all the requirements.
Growth
Polycab is one of the leading names in Wires & Cables with its proven track
record of over three decades. The company has achieved a consistent growth of
more than 25% per annum. This growth is attributed to company's commitment
towards "Total Customer Satisfaction" in terms of Quality and
Services for the entire range of its products.
Exports
With it's tradition to satisfy all it's customers requirements, from an
immediate demand to an integrated Cable Management-quickly, efficiently &
competitively, Polycab combines material availability with technical expertise
to develop the most cost effective cables and wires in order to meet the highly
competitive international market.
Backed by its dedicated Export Department & its representatives in various
countries, Polycab has, the ability to dispatch material and & ensure that
the immediate & ongoing needs of the clients are met- WORLD WIDE. In a very
short span it has managed to execute orders from around the globe. In fact it
is First & Only country in India to have supplied material in the U.K.
market in its own brand name.
With an unrivalled track record for long-term support, excellent service and
dedication to quality, the company has been rated as the first and certain
choice for wires and cables by many buyers in the international market.
Sales
Analysis
Polycab is one of the leading names in Wires & Cables with its proven track
record of over three decades. Cables, Dry/Jelly Filled Telecommunication
Cables, CATV, LAN, Data & Communication Cables and coming in Optical Fibre
Cables.
The company is, now one of the largest manufacturer for L.T. Power/ Control,
Instrumentation,House wires & Flexible, Auto/Battery, Submersible, ACSR,
AAAC, Aerial Bunched Cables, H.T. Cables (upto 33 kV), Rubber Cables, Dry/Jelly
Filled Telecommunication Cables, CATV, LAN, Data & Communication Cables.
Their
Prime Market Segment
AIRPORTS
AUTOMOIBILE INDUSTRY
BUILDING & CONSTRUCTION INDUSTRY
CEMENT INDUSTRIES
CHEMICAL & PROCESS INDUSTRIES
COMBINED GAS CYCLE POWER GENERATION
DEFENCE INSTALLATIONS
FERTILISERS INDUSTRIES
HOSPITALS
HOTELS/BUILDING INDUSTRIES
HYDRO POWER GENERATION
INFORMATION TECHNOLOGY INDUSTRIES
MACHINE BUILDING INDUSTRIES
MINING
OFFSHORE PLATFORMS
PANEL & SWITCHGEAR FABRICATORS
PETROCHEMICAL INDUSTRIES/LPG PLANTS
PETROLEUM REFINERIES & PORT TERMINALS
POWER & ELECTRICITY DISTRIBUTION INDUSTRY
RAILWAYS
SHIPPING & MARINE INDUSTRIES
SPACE TECHNOLOGEY
STEEL INDUSTRIES
TELEPHONE INDUSTRIES, COMMUNICATION & STRUCTURAL
TEXTILE INDUSTRIES
THERMAL POWER GENERATION
v ASIAN BROWN BROVIRE
v BHARAT HEAVY ELECTRICALS LIMITED
v CENTRAL POWER RESEARCH INSTITUTION
v ELECON ENGINEERING COMPANY LIMITED
v ELECTRICAL RESEARCH AND DEVELOPMENT
ASSOCIATION
v GRASIM
v HINDUSTAN PETROLEUM CORPORATION LIMITED
v ISPAT INDUSTRIES LIMITED
v I.T.C.LIMITED
v JAWAHARLAL NEHRU PORT TRUST
v KARNATAKA POWER CORPORATION LIMITED
v LARSEN & TOUBRO LIMITED
v MAZAGON DOCK LIMITED
v MUMBAI PORT TRUST
v OIL & NATURAL GAS CORPORATION
v RELIANCE INDUSTRIES LIMITED
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.46.32 |
|
UK Pound |
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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/normal. |
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 |
|