MIRA INFORM REPORT
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Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
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Name : |
RR KABEL LIMITED (w.e.f. 08.11.2000) |
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Formerly Known
As : |
RAM RATNA AGRO-PLAST LIMITED |
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Registered
Office : |
Ram |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
06.02.1995 |
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Com. Reg. No.: |
11-85294 |
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CIN No.: [Company Identification
No.] |
U28997MH1995PLC085294 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR08449A |
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PAN No.: [Permanent Account No.] |
AABCR3352C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Wires and Cables. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 3700000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
Ram |
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Tel. No.: |
91-22-24949009 / 2492144 |
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Fax No.: |
91-22-24912586 / 24930203 |
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E-Mail : |
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Website : |
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Corporate Office : |
305/A, Mindsor Plaza, R.C. Dutt Road, Alkapuri, Baroda – 390007,
Gujarat, India |
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Tel. No.: |
91-265-2321891 / 92 |
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Fax No.: |
91-265-2321894 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Satyanarayan Mohanlal Loya |
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Designation : |
Director |
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Address : |
1502, Krishna Heritage, New Link Road, Opp. Don Bosco School, Borivali
(West), Mumbai – 400091, Maharashtra, India |
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Date of Birth/Age : |
05.04.1930 |
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Date of Appointment : |
30.09.1997 |
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Name : |
Mr. Tribhuvanprasad Rameshwarlal Kabra |
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Designation : |
Managing Director |
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Address : |
Uma Sadan, 178, Vinayak Society, Opp. SNDT College and Sanskrit Building,
Behind Akota Stadium, Baroda – 390020, Gujarat, India |
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Date of Birth/Age : |
11.06.1955 |
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Date of Appointment : |
02.09.1997 |
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Name : |
Mr. Ashok Satyanarayan Loya |
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Designation : |
Whole-time Director |
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Address : |
1502, Krishna Heritage, New Link Road, Opp. Don Bosco School, Borivali
(West), Mumbai – 400091, Maharashtra, India |
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Date of Birth/Age : |
03.05.1965 |
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Date of Appointment : |
08.09.1999 |
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Name : |
Mr. Dinesh Jaigopal Modani |
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Designation : |
Director |
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Address : |
B-3, 31-32, Mahendra Garden, Near Patkar College, S.V. Road, Goregaon
(West), Mumbai – 400062, Maharashtra, India |
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Date of Birth/Age : |
23.01.1963 |
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Date of Appointment : |
05.07.2001 |
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Name : |
Mr. Mahesh Tribhuvanprasad Kabra |
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Designation : |
Whole-time Director |
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Address : |
Uma Sadan, 178, Vinayak Society, Opp. SNDT College and Sanskrit
Building, Behind Akota Stadium, Baroda – 390020, Gujarat, India |
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Date of Birth/Age : |
23.03.1977 |
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Date of Appointment : |
11.03.2000 |
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Name : |
Mrs. Kirtidevi Kabra |
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Designation : |
Director |
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Address : |
Uma Sadan, 178, Vinayak Society, Opp. SNDT College and Sanskrit
Building, Behind Akota Stadium, Baroda – 390020, Gujarat, India |
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Date of Birth/Age : |
23.02.1962 |
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Date of Appointment : |
06.02.1995 |
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Name : |
Mr. Mahendra Kumar Rameshwarlal Kabra |
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Designation : |
Whole-time Director |
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Address : |
Casa Grande, Tower No. 2, 20th Floor, Flat No. 2008, 249, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, |
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Date of Birth/Age : |
13.05.1957 |
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Date of Appointment : |
06.02.1995 |
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Name : |
Mr. Sanjay Narnarayan Taparia |
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Designation : |
Additional Director |
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Address : |
152, Yugdharma, Opp. Inorbit, |
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Date of Birth/Age : |
10.07.1963 |
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Date of Appointment : |
12.11.2010 |
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Name : |
Mr. Sumeet Mahendrakumar Kabra |
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Designation : |
Additional Director |
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Address : |
B/1908, Casa Grande, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, |
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Date of Birth/Age : |
10.08.1982 |
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Date of Appointment : |
12.11.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Rameshwarlal Kabra |
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520130 |
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Mahendra Kumar Kabra |
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2834130 |
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Shreegopal Kabra |
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483570 |
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Satyanarayan Mohanlal Loya |
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78700 |
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Kirtidevi Kabra |
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1263916 |
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Ashok Satyanarayan Loya |
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360630 |
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Dinesh Jaigopal Modani |
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130 |
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Hemlata Kabra |
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171080 |
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Tribhuvanprasad Rameshwarlal Kabra |
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742580 |
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Shreegopal Kabra HUF |
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678290 |
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Rajesh Kabra (Minor) |
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1776380 |
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Mahendra Kumar Kabra HUF |
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279500 |
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Rameshwarlal Kabra HUF |
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2269020 |
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Tribhuvanprasad Rameshwarlal Kabra HUF |
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357500 |
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Uma T. Kabra |
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3292250 |
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Mahesh T. Kabra |
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754000 |
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Kabel Buildcon Solutions Private Limited ( |
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260000 |
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MEW Electricals Private Limited ( |
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559000 |
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Ram Ratna Wires Limited ( |
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520000 |
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Ratnidevi Kabra |
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170300 |
As on 30.09.2010
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Category |
Percentage |
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Bodies corporate |
9.29 |
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Directors or relatives of Directors |
90.71 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Wires and Cables. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Finished goods various types of Cables |
Core Kilometer |
NA |
708000 |
537721 |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
Notes :-
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V. C. Darak and Associates Chartered Accountant |
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Address : |
Yashodhan, 1st Floor, |
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Tel. No.: |
91-22-26161646 |
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Fax No.: |
91-22-26161650 |
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E-Mail : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20446000 |
Equity Shares |
Rs.10/- each |
Rs.204.460
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
204.460 |
204.460 |
201.460 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
715.648 |
523.320 |
332.118 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
920.108 |
727.780 |
533.578 |
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LOAN FUNDS |
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1] Secured Loans |
715.923 |
633.984 |
771.375 |
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2] Unsecured Loans |
249.483 |
255.737 |
355.670 |
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TOTAL BORROWING |
965.406 |
889.721 |
1127.045 |
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DEFERRED TAX LIABILITIES |
55.601 |
40.753 |
33.607 |
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TOTAL |
1941.115 |
1658.254 |
1694.230 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
497.015 |
485.085 |
481.802 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
27.727 |
27.727 |
9.158 |
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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 |
378.613
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231.934 |
361.726 |
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Sundry Debtors |
806.960
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624.083 |
566.532 |
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Cash & Bank Balances |
314.925
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306.717 |
306.355 |
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Other Current Assets |
36.257
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47.931 |
30.736 |
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Loans & Advances |
150.413
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120.989 |
183.799 |
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Total
Current Assets |
1687.168
|
1331.654 |
1449.148 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
42.642
|
35.175 |
59.075 |
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Other Current Liabilities |
77.669
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55.622 |
43.720 |
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Provisions |
150.484
|
95.415 |
143.083 |
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Total
Current Liabilities |
270.795
|
186.212 |
245.878 |
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Net Current Assets |
1416.373
|
1145.442 |
1203.170 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1941.115 |
1658.254 |
1694.230 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
4263.745 |
4218.768 |
4008.088 |
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Other Income |
6.727 |
4.721 |
4.689 |
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TOTAL (A) |
4270.472 |
4223.489 |
4012.777 |
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Less |
EXPENSES |
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Inventory Change |
(117.242) |
136.278 |
(139.954) |
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Manufacturing and Other Expenses |
3923.427 |
3746.989 |
3757.601 |
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Service Tax Written back |
0.000 |
(1.629) |
0.000 |
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Loss on Sale of Assets / Assets discarded |
0.451 |
0.931 |
1.301 |
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Net Prior Period Items |
0.504 |
0.174 |
(0.702) |
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TOTAL (B) |
3807.140 |
3882.743 |
3618.246 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
463.332 |
340.746 |
394.531 |
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Less |
FINANCIAL
EXPENSES (D) |
51.125 |
82.833 |
76.879 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
412.207 |
257.913 |
317.652 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
55.907 |
52.423 |
43.538 |
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PROFIT BEFORE TAX
(E-F) (G) |
356.300 |
205.490 |
274.114 |
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Less |
TAX (I) |
102.928 |
53.446 |
72.552 |
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PROFIT AFTER TAX
(G-I) (J) |
253.372 |
152.044 |
205.162 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
356.804 |
264.602 |
122.923 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
18.500 |
12.000 |
15.300 |
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Final Dividend |
40.892 |
40.892 |
40.292 |
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Tax on Dividend |
6.792 |
6.950 |
6.848 |
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BALANCE CARRIED
TO THE B/S |
543.992 |
356.804 |
265.645 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
1274.540 |
1766.375 |
NA |
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TOTAL EARNINGS |
1274.540 |
1766.375 |
NA |
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IMPORTS |
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Raw Materials |
493.190 |
609.400 |
379.718 |
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Machinery and Spares |
0.984 |
3.700 |
0.950 |
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Capital Goods |
12.896 |
7.396 |
25.989 |
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TOTAL IMPORTS |
507.070 |
620.496 |
406.657 |
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Earnings Per
Share (Rs.) |
12.39 |
7.50 |
10.35 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.93
|
3.60 |
5.11 |
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Net Profit Margin (PBT/Sales) |
(%) |
8.36
|
4.87 |
6.84 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.31
|
11.31 |
14.19 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.28 |
0.51 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.34
|
1.48 |
2.57 |
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Current Ratio (Current Asset/Current Liability) |
|
6.23
|
7.15 |
5.89 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
During the year 2009-10, the
Company managed to sustain the production and sales of previous financial year
with marginally lower sales figures. The
production for the year posted to 537721 CKM compared to previous year's
4,73,871 CKM thereby posting a marginal increase of 7.63%. However the sales of
the company have marginally reduced to Rs.14520.000 Millions compared to
Rs.4580.000 Millions in previous financial year.
FORM 8 :
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10013007 |
|
Corporate
identity number of the company |
U28997MH1995PLC085294 |
|
Name of the
company |
RR KABEL LIMITED |
|
Address of the
registered office or of the principal place of business in |
Ram |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Corporation Bank, Industrial Financial Branch at 104, Bharath House,
Bombay Samachar Marg, Fort, Mumbai – 400001, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
First
Supplemental Common Deed of Hypothecation of Movable/Assets/Debts dated 27th August
2008 |
|
Date of
instrument Creating the charge |
27.08.2008 |
|
Amount secured by
the charge |
Rs.545.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Cash Credit : 0.25%below
Corporation Bank Bench Mark Advance Rate(COBAR) Working Capital
Demand Loan:2.25% below Corporation Bank Bench Mark Advance Rate(COBAR) Export Credit in
Rupee Terms : 10% per annum. Export Credit in
Foreign Currency Term : 1% per annum over & above Foreign Bills
Discounting upto 90 Days 10% per annum and above 90 Days 12.25% per annum. Terms of
Repayment : Repayable on
Demand, subject to annual review/renewal. Export Credit and
bills discounting by discounted proceeds of the export bills on"First in
and First out" basis. Margin : All Stock(25%) Book Debts (50%) Export Credit
(10% of Free on Board Price) Export Bill
Discounting(0%) |
|
Date of latest modification
prior to the present modification |
29.08.2006 |
|
Particulars of
the present modification |
The total credit
limits have been enhanced by Rs.219.500 Millions i.e. to Rs. 545.000 Millions
secured by first charge on the
company's hypothecated assets and on Company's movable fixed assets both
present and future. |
FIXED ASSETS :
- Land Freehold
- Worker’s
Quarter
- Plant and
Machinery
- Electric
Installations
- Furniture and
Fixtures
- Office and
Other Equipments
- Vehicles
WEBSITE DETAILS
Company Profile :
Everything that you can think of
works with wires. Including Wi-fi networks. Wires work like nerves, untiring,
relentless, providing. Lamps, fans, air conditioners, bells, refrigerators,
wires are everywhere, working like the nerves of the house.
It is with this understanding and inspiration that RR Kabel has always made the
latest advances in wire design and engineering. RR Kabel wires have
outstanding performance characteristics and represent contemporary design. Though
designed solely with application and function in mind, their products are
nevertheless endowed with a subtle aesthetic. They at RR Kabel think wires are
not just objects, they believe that wires play the role of nerves in the
body. Spread across the premises, empowering appliances, and reaching out
to every corner of the house to make it
come alive with energy. When you believe this you have designers, engineers,
fabricators, and other partners who need to have incredible design and
commitment to pursue and create a product that can be trusted, and relied upon.
Just like nerves quickly respond to information that their body is
transmitting, good wires work with intelligence, conducting, minimizing losses
and maintaining safety and savings along every millimeter of its length. The
international certifications go on to validate this philosophy at RR Kabel.
Their wires come with different characteristics to suit residential complexes,
schools, theatres and other projects.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.20 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.