1. Summary Information

 

 

Country

India

Company Name

UNIVERSAL CABLES LIMITED

Principal Name 1

Mr. Harsh V. Lodha

Status

Satisfactory

Principal Name 2

Mr. S. N. Prasad

 

 

Registration #

10-01114

Street Address

P. O. Birla Vikas, Satna – 485005, Madhya Pradesh, India

Established Date

06.03.1945

SIC Code

--

Telephone#

91-7672-257121 to 27/ 414000

Business Style 1

Manufacturer

Fax #

91-7672-225344/ 257131

Business Style 2

Exporter

Homepage

http://www.universalcablesltd.com

http://www.unistar.co.in

Product Name 1

Electrical Cable Wires

# of employees

1821 (Approximately)

Product Name 2

--

Paid up capital

Rs.231,332,000/-

Product Name 3

--

Shareholders

Shareholding of Promoter and Promoter Group - 52.92%

Public Shareholding - 47.08%

Banking

State Bank of India

Public Limited Corp.

YES

Business Period

66 years

IPO

YES

International Ins.

-

Public Enterprise

YES

Rating

Ba (51)

Related Company

Relation

Country

Company Name

CEO

Joint Venture

India

Birla Ericsson Optical Limited (BEOL)

--

Note

-

 

2. Summary Financial Statement

Balance Sheet as of

31.03.2010

(Unit: Indian Rs.)

Assets

Liabilities

Current Assets

1,362,892,000

Current Liabilities

1,004,728,000

Inventories

1,107,441,000

Long-term Liabilities

1,342,509,000 

Fixed Assets

1,369,561,000

Other Liabilities

129,190,000

Deferred Assets

0

Total Liabilities

2,476,427,000

Invest& other Assets

578,282,000

Retained Earnings

1,710,417,000

 

 

Net Worth

1,941,749,000

Total Assets

4,418,176,000

Total Liab. & Equity

4,418,176,000

 Total Assets

(Previous Year)

4,177,127,000

 

 

P/L Statement as of

31.03.2010

(Unit: Indian Rs.)

Sales

4,957,332,000

Net Profit

271,419,000

Sales(Previous yr)

5,711,060,000

Net Profit(Prev.yr)

70,005,000

 

MIRA INFORM REPORT

 

 

Report Date :

28.05.2011

 

IDENTIFICATION DETAILS

 

Name :

UNIVERSAL CABLES LIMITED

 

 

Registered Office :

P. O. Birla Vikas, Satna – 485005, Madhya Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

06.03.1945

 

 

Com. Reg. No.:

10-01114

 

 

Capital Investment / Paid-up Capital :

Rs.231.332 millions

 

 

CIN No.:

[Company Identification No.]

L31300MP1945PLC001114                   

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

JBPU00023C/ MUMU03691C/ MUMU04091D

 

 

PAN No.:

[Permanent Account No.]

AAACU3547P/ AAACU3457P

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer and Exporter of Electrical Cable Wires.

 

 

No. of Employees :

1821 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (51)

 

RATING

STATUS

PROPOSED CREDIT LINE

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Maximum Credit Limit :

USD 7800000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed company having satisfactory track. Trade relations are fair. Business is active. Payments are reported to be regular and as per commitments.

 

The company can be considered good for any normal 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

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION DENIED BY

 

Name :

Mr. Khandelwal

Designation :

Accounts

 

 

LOCATIONS

 

Registered Office/

Factory 1 :

P. O. Birla Vikas, Satna – 485005, Madhya Pradesh, India

Tel. No.:

91-7672-257121 to 27/ 414000

Fax No.:

91-7672-225344/ 257131

E-Mail :

headoffice@universalcablesltd.com

headoffice@unistar.co.in

unistar@bom5.vsnl.net.in

unistar@vsnl.com

secretarial@unistar.co.in

Website :

http://www.universalcablesltd.com

http://www.unistar.co.in

 

 

Corporate Office :

House 159, Churchgate, Reclamation, Mumbai – 400020, Maharashtra, India

Tel No.:

91-22-22023170

 

 

Factory 2 :

Plot Nos. L – 62 to L-64 A, Verna Industrial Estate, Verna, Salcette – 403722, Goa, India

 

 

Branches :

Located At:

 

·         Allahabad

·         Bangalore

·         Baroda

·         Bhopal

·         Bhubaneshwar        

·         Kolkata

·         Chennai

·         Dhanbad

·         Hyderabad

·         Mumbai 

·         New Delhi

·         Vishakhapatnam

 

 

DIRECTORS

 

(AS ON 31.03.2010)

 

Name :

Mr. Harsh V. Lodha

Designation :

Chairman

Date of Birth/Age :

13.02.1967

Date of Appointment :

24.04.1998

Profile :

He is an eminent and young Chartered Accountant and Partner of M/s Lodha and Company, Chartered Accountants, which is the Member Firm of EDO International, the 5th largest Accounting and Consulting Firm in the world. He has been actively involved in significant assignments in the areas of takeovers and mergers/ reconstructions and rehabilitations, international and domestic financing, project structuring capital mobilisation, joint-ventures and collaborations. He is serving on the Managing Committee of Assocham. He has served on the Executive Committee of FICCI and as Chairman of its Corporation Laws and Governance Committee and Co-Chairman of its Young Leaders Forum. He has served as a Member of Working Group on Corporate Governance set by the Department of Company Affairs, Government of India and Working Group to frame guidelines for the registration and operations of-the Securitisation Companies and Asset Reconstruction Companies constituted by the Reserve Bank of India. He has served as Member of the Accounting Standards Board of The Institute of Chartered Accountants of India and alternate member of the National Advisory Committee on Accounting Standards set up by Government of India. He has served as Vice President of the Indian Chamber of Commerce, Calcutta and as Chairman of its Economic Affairs Committee, Banking and Finance and Director Tax Committees. He has served as Honorary Consul of the Government of Romania for West Bengal, Orissa and Bihar. Also served as the Vice Consul of the Republic of Philippines for Eastern India.

List of outside Directorships held*

 
  • Alfred Herbert (India) Limited
  • Birla Corporation Limited
  • Fenner (India) Limited
  • Hindustan Gum and Chemicals Limited
  • OCL India Limited
  • Punjab Produce Holdings Limited
  • Sicpa India Limited
  • Vindhya Telelinks Limited

 

 

Name :

Mr. S. N. Prasad

Designation :

Directors

 

 

Name :

Mr. S. C. Jain

Designation :

Director

Date of Birth/Age :

01.08.1940

Date of Appointment :

27.10.2004

Profile :

He did his graduation from Lucknow Christian College in 1958 and he is also a Law Graduate of Calcutta University. He obtained the Master's degree in Social work with specilisation in Labour Relations and Personnel Management from J.K. Institute, University of Lucknow. He is life member of National Institute of Personnel Management and was Examiner and Paper Setter for the DPM Course of the Institute. He was also Chairman of the Labour Sub-Committee of the Chamber of Commerce and a nominee of the Chamber on the Minimum Wages Advisory Board constituted by the Government of West Bengal. He has over 40 years experience in Management of Industrial Relations. He has also written a book on "Calcutta High Court 50 years Digest of Important Labour Cases" which is an unique digest of such cases and a very useful guideline to employers, employees, trade unions and to practicing managers.

List of outside Directorships held*
  • Utkal Asbestos Limited

 

 

Name :

Mr. S. S. Kothari

Designation :

Director

 

 

Name :

Mr. S. R. Jain

Designation :

Director

Date of Birth/Age :

29.10.1934

Date of Appointment :

05.09.2006

Profile :

He is an expert in the Management of Steel and Heavy Industries and has over 40 years of experience in this field. He has also been the Chairman of Steel Authority of India Limited and Heavy Engineering Corporation Limited. He has also served as the President of Indian Institute of Metals and is currently the Chairman of Consteel India (P) Limited, a Consultancy Company based in Delhi.

List of outside Directorships held*
  • Neelachal Ispat Nigam Limited
  • OCL India Limited

 

 

 

 

Name :

Mr. J. C. Sharma

Designation :

Director

Date of Birth/Age :

03.07.1944

Date of Appointment :

27.10.2006

Profile :

He began his professional career as a Commissioned Officer in the Indian Army

(1967-72) and was awarded with the "Sena Medal" for Gallantry in 1971 Indo-Pak War. He joined the elite India Foreign Service in 1972 and has served as First Secretary (Consular and Political) and First Secretary (Commercial) in the Indian Embassies in Tokyo and Jakarta respectively. A brilliant Organizer, he was Director (Protocol) for the 7th Non-Aligned Summit and the Commonwealth Heads of Government Meeting in Delhi in the year 1983. First Foreign Service Officer to be deputed as Joint Secretary Defence Exports; he prepared the blue print for Defence Exports from India and for first Aero India in Bangalore. He also served on the Board of Bharat Earth Movers Limited (BEML), a large public sector undertaking manufacturing defence and earth moving equipment and railway coaches. He has served as Secretary, External Affairs and Member Secretary of the High Level Committee on Indian Diaspora. He was the brain behind the idea of celebrating 'Pravasi Bhartiya Divas' and organized first two Pravasi Divas in Delhi. He was advisor in the PHD Chamber of Commerce during its centenary year January 2005 to 31st January, 2006.

 

 

Name :

Mr. Dinesh Chanda

Designation :

Director

Date of Birth/Age :

26.10.1936

Date of Appointment :

23.05.2007

Profile :

He did his BE (Electrical) from University of Roorkee in 1958 and also is a Chartered Engineer from Institution of Engineers (I), since July 1995. He has served the important positions in companies like Tata Power Company Limited, BHEL, Heavy Engineering Corporation Limited and has been associated with Birla Corporation Limited since 1995. He is a member of the Institution of Engineers (I) (MEI), from 1973 and is also a member of the Indian Institute of Welding (MIIW) from July 1976. He has over 46 years of experience of working in Govt/PSU and Private Industries, especially in the sectors of power generation, steel and cement.

 

 

Name :

Mr. S. K. Daga

Designation :

Alternate Director

 

 

Name :

Mr. S. P. Tamrakar

Designation :

Alternate Director

 

 

KEY EXECUTIVES

                                                                    

Name :

Mr. D.R. Bansal

Designation :

Chief Executive Officer

Date of Birth/ Age:

70 year

Qualification :

M. Sc.

Experience :

46 years

Previous Employment

Held:

Hindustan Gum and Chemicals Limited, Bhiwani.

(Sales In charge and Chief Chemist)

 

 

Name :

Mr. Pankaj Kalani

Designation :

President (Commercial) and Company Secretary

 

 

AUDIT COMMITTEE :

 

 

 

Name :

Dr. S. R. Jain

Designation :

Chairman

 

 

Name :

Mr. S. S. Kothari

Designation :

Director

 

 

Name :

Mr. J. C. Sharma

Designation :

Director

 

 

Name :

Mr. Dinesh Chanda

Designation :

Director

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(AS ON 31.03.2011)

 

Names of Shareholders

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

(1) Indian

 

 

Bodies Corporate

12,239,923

52.92

Sub Total

12,239,923

52.92

(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

12,239,923

52.92

(B) Public Shareholding

 

 

(1) Institutions

 

 

Mutual Funds / UTI

1,200

0.01

Financial Institutions / Banks

344,905

1.49

Central Government / State Government(s)

740

-

Insurance Companies

811,752

3.51

Foreign Institutional Investors

500

-

Sub Total

1,159,097

5.01

(2) Non-Institutions

 

 

Bodies Corporate

2,249,555

9.73

Individuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 million

4,414,451

19.09

Individual shareholders holding nominal share capital in excess of Rs. 0.100 million

938,487

4.06

Any Others (Specify)

2,128,741

9.20

Trusts

1,760,619

7.61

Foreign Nationals

73,180

0.32

Clearing Members

294,942

1.28

Sub Total

9,731,234

42.07

Total Public shareholding (B)

10,890,331

47.08

Total (A)+(B)

23,130,254

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

-

-

(1) Promoter and Promoter Group

-

-

(2) Public

-

-

Sub Total

-

-

Total (A)+(B)+(C)

23,130,254

-

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Electrical Cable Wires.

 

                   

Products :

Item Code No. (ITC Code)

85.44

Product Description

Cables

 

 

Item Code No. (ITC Code)

85.32

Product Description

Capacitors

 

 

Item Code No. (ITC Code)

76.04

Product Description

Aluminium Rods

 

 

Item Code No. (ITC Code)

9001.1000

Product Description

Optical Fibre

 

 

Item Code No. (ITC Code)

9001.1000

Product Description

Fibre Ribbon

 

 

Brand Names :

'UNISTAR'

 

 

Exports :

 

Products :

Electrical Cable Wires

 

 

Imports :

 

Products :

Raw Materials

 

 

Terms :

 

Selling :

Depends

 

 

Purchasing :

Depends

 

 

PRODUCTION STATUS (As on 31.03.2009)

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Electrical Cables Wires, Conductors, Strips of all types (excluding Tele-communication Cables, Wires, Conductors, Strips of all types connected with telecommunication and items reserved for small scale)

KM

MCM

MT

14500

200

6000

11500

150

3000

4093

20

208

Cable End Seals of Plastics

Nos.

500000

250000

--

PVC Insulated Single/ multicore unsheathed cables with Cu./Al. Conductor for 650/1100 V.

CKM

200000

150000

18

Flexible Cables [for House Wiring]

KM

500000

--

--

Optical Fibre Cable

KM

50000

50000

--

Optical Fibre Cable Accessories

Nos.

200000

--

--

Jelly Filled Telephone cables and other telecommunication cables

CKM

2500000

2500000

--

Pigtail and Patchcords

Nos.

450000

--

--

Fibre Re-inforced Plastic Rod

KM

200000

--

--

Optical Fibre

FKM

6000000

1500000

1335049

Aluminum Rods

MT

4800

8000

1681

Grooved Copper Contact Wire and Cadmium Copper Catenary Wire

MT

On Job Basis

--

--

Capacitors - MFD

Pcs

5000000

1000

8

Capacitors - LT and HT

KVAr

1500000

2000000

1384803

Electrical Panels

Pcs

500

500

58

Cross Linked Polyethylene compound including insulating, semiconducting and other special grades

MT

1000

2000

--

 

 

GENERAL INFORMATION

 

Customers :

Department of Telecommunication and Mahanagar Telephone Nigam Limited

 

CABLES

  • Electricity Boards and Other Power Company’s
  • Transmisson Corporation of A.P. Limited
  • A.E.Company Limited, Ahmedabad Electric Company Limited
  • BSES Limited, BEST Mumbai.
  • CESC Limited
  • Delhi Vidyul Board
  • Gujarat Electricity Board.
  • Gujarat Industries Power Company Limited
  • Haryana State Electricity Board.
  • Karnataka Power Transmission Corporation.
  • Kerla State Electric Board.
  • Maharashtra State Electricity Board.

MINING

  • Bharat Coking Coal Limited
  • Central Coalfields Limited
  • Eastern Coalfields Limited
  • Northern Coalfields Limited

STEEL PLANTS 

  • Steel Authority of India Limited
  • Tata Iron  and Steel Company Limited
  • Malvika  Steels Limited

REFINERIES and PETROCHEMICALS

  • Andhra Petrochemicals Limited
  • Bharat Petroleum Corporation Limited
  • Cochin Refineries Limited, Cochin
  • Hindustan Petroleum Corporation. Limited
  • Haldia Petro-chemicals Limited
  • Indian Petrochemicals Corporation Limited
  • Indian Oil Corporation Limited
  • Manglore Refinery and Petrolchemicals Limited
  • Reliance Petroleum Limited, Jamnagar
  • Southern Petrochemicals Industries Corporation Limited

RAILWAYS

  • Chittaranjan Locomative Works
  • Diesel Locomative Works
  • Diesel Component Works
  • Integral Coach Factory
  • Rail Coach Factory
  • All Zonal Railways
  • Calcutta Metro and Delhi Metro

ATOMIC ENERGY

  • Bhabha Atomic Research Centre
  • Nuclear Power Corporation

FERTILIZERS

  • Chambal Fertilizers and Chemicals Limited
  • Fertilizers Corporation Of India
  • Gujarat Narmada Valley Fertilizer Company Limited
  • Indian Farmers and Fertilizer Company Limited

PORT TRUST and SHIP BUILDING INDUSTRY

  • Calcutta Port Trust
    (Haldia Dock Complex)
  • Mangalore Port Trust
  • Cochin Naval Dockyard
  • Cochin Port Trust
  • Garden Reach Ship builders and Engineers Limited
  • Kandla Port Trust

HEAVY INDUSTRIES

  • Bharat Earth Movers Limited
  • Bharat Heavy Electricals Limited
  • Bharat Electronics Limited

SPECIAL AIRCRAFT INDUSTRY

  • Hindustan Aeronautics Limited
  • Indian Space Research Organisation

OTHER INDUSTRIES

  • ABB Limited
  • Birla Copper Limited
  • Larsen and Toubro Limited
  • National Aluminum Company Limited

 

 

No. of Employees :

1821 (Approximately)

 

 

Bankers :

·         State Bank of India

Satna Branch, India                

 

 

Facilities :

Secured Loans :

 

 31.03.2010

Rs. in Millions

 

 

Term Loan from a Bank

124.259

[Due within one year Rs.111.259 Millions including interest accrued and due Rs.1.259 Millions

 

 

 

Working Capital Loans from Bank

 

Cash Credit Account

80.312

Working Capital Demand Loan

100.552

Foreign Currency Loan – Buyers Credit

918.132

Including interest accrued and due Rs.0.552 Million

 

 

 

Total

1223.255

 

Note:

 

Term Loans and Working Capital Loans are secured by the Equitable Mortgage created by the Company by way of deposit of title deeds of the Company’s all present immovable properties situated at Satna (M. P.) and further secured by Hypothecation of all present and future Goods, Book Debt and all other Movable Assets including Investment and Machinery.

 

Unsecured Loans :

31.03.2010

Rs. in Millions

 

 

Fixed Deposit from Employees and others

0.600

[Due Within one year Rs.0.600 Millions]

 

Short-term Loans and advances

 

Loan from a Body Corporate

--

Loans from Banks

118.654

Including interest accrued and due Rs.Nil

 

 

 

Total

119.254

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S. R. Batliboi and Company

Chartered Accountants

Address :

Madhya Pradesh, India

 

 

Collaborators :

·         ABB High Voltage Cables AB of Sweden

 

                                 

Joint Venture:

·         Birla Ericsson Optical Limited (BEOL)

·         Vindhya Telelinks Limited

·         Universal ABB Power Cables Limited

·         Optic Fibre Goa Limited

·         Birla Furukawa Fibre Optics Limited

 

 

CAPITAL STRUCTURE

 

(AS ON 31.03.2010)

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Preference Shares

Rs.100/- each

Rs.5.000 Millions

24500000

Equity Shares

Rs.10/- each

Rs.245.000 Millions

 

 

 

 

 

Total

 

Rs.250.000 Millions

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

23136074

Equity Shares

Rs.10/- each

Rs.231.361 millions

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

23130254

Equity Shares

Rs.10/- each

Rs.231.303 millions

Add:

Forfeited Shares

 

Rs.0.029 million

 

 

 

 

 

Total

 

Rs.231.332 millions

 

 

Of the above:

 

8883313 Equity Shares of Rs.10/- each were allotted as fully paid Bonus Shares by Capitalisation of Securities premium and General Reserve in earlier years.

 

3092310 Equity Shares of Rs.10/- each were allotted on 7th September 2006 to the shareholders of erstwhile Optic Fibre Goa Limited Pursuant to the Scheme of Amalgamation without Payment being received in Cash.

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

 

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

231.332

231.332

231.332

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

1710.417

1508.109

1466.623

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1941.749

1739.441

1697.955

LOAN FUNDS

 

 

 

1] Secured Loans

1223.255

936.951

1085.127

2] Unsecured Loans

119.254

329.771

387.791

TOTAL BORROWING

1342.509

1266.722

1472.918

DEFERRED TAX LIABILITIES

129.190

104.936

112.386

 

 

 

 

TOTAL

3413.448

3111.099

3283.259

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1369.561

1434.726

1329.690

Capital work-in-progress

70.840

5.364

123.254

 

 

 

 

INVESTMENT

507.442

283.342

283.342

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
1107.441

857.207

1331.014

 

Sundry Debtors
986.868

1320.234

827.803

 

Cash & Bank Balances
68.489

41.400

49.306

 

Other Current Assets
120.098

104.466

52.374

 

Loans & Advances
187.437

130.388

188.059

Total Current Assets
2470.333

2453.695

2448.556

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
383.191

508.103

773.011

 

Other Current Liabilities
424.381

408.568

 

 

Provisions
197.156

149.357

128.572

Total Current Liabilities
1004.728

1066.028

901.583

Net Current Assets
1465.605

1387.667

1546.973

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

3413.448

3111.099

3283.259

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

4957.332

5711.060

4914.640

 

 

Other Income

206.543

125.864

85.850

 

 

TOTAL                                     (A)

5163.875

5836.924

5000.490

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Raw Materials Consumed

3182.375

3512.907

3545.044

 

 

Cost of Traded goods sold

430.030

261.694

67.910

 

 

Materials Purchases/ Expenses Incurred on Contract

83.325

0.000

0.000

 

 

Personnel Expenses

352.602

340.714

312.313

 

 

Operating and Other Expenses

671.893

775.287

746.880

 

 

Decrease/increase) in Inventories

(242.296)

438.571

[237.090]

 

 

TOTAL                                     (B)

4477.929

5329.173

4435.057

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

685.946

507.751

565.433

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

103.998

230.368

164.610

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

581.948

277.383

400.823

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

168.743

164.847

134.245

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

413.205

112.536

266.578

 

 

 

 

 

Less

TAX                                                                  (H)

141.786

42.531

93.939

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

271.419

70.005

172.639

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

356.805

328.861

--

 

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

30.000

15.000

--

 

 

Proposed Dividend

57.826

23.130

--

 

 

Corporate Dividend Tax

9.827

3.931

--

 

BALANCE CARRIED TO THE B/S

530.571

356.805

--

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

420.988

250.225

174.487

 

 

Claims from Vendors

12.533

0.000

0.000

 

 

Other Earnings

5.008

9.480

0.000

 

TOTAL EARNINGS

438.529

259.705

174.487

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

1346.803

1011.846

703.606

 

 

Stores & Spares

17.921

31.466

39.781

 

 

Capital Goods

55.234

22.125

126.840

 

 

Others

298.467

54.816

7.872

 

TOTAL IMPORTS

1718.425

1120.253

878.099

 

 

 

 

 

 

Earnings Per Share (Rs.)

11.73

3.03

--

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2010

(1st Quarter)

30.09.2010

(2nd Quarter)

31.12.2010

(3rd Quarter)

31.03.2011

(4th Quarter)

Net Sales

1214.800

1514.300

1298.700

1354.200

Total Expenditure

1103.100

1395.000

1180.7000

1228.700

PBIDT (Excl OI)

111.700

119.300

118.000

125.500

Other Income

9.200

7.200

7.800

7.100

Operating Profit

120.900

126.500

125.800

132.600

Interest

17.100

21.500

18.200

15.100

Exceptional Items

0.000

0.000

0.000

0.000

PBDT

103.800

105.000

107.600

117.500

Depreciation

43.400

43.400

40.700

38.200

Profit Before Tax

60.400

61.600

66.900

79.300

Tax

16.900

23.100

22.100

28.100

Provisions and contingencies

0.000

0.000

0.000

0.000

Profit After Tax

43.500

38.500

44.800

51.200

Extraordinary Items

0.000

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

0.000

Net Profit

43.500

38.500

44.800

51.200

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
5.26
1.20

3.45

 

 
 
 

 

Net Profit Margin

(PBT/Sales)

(%)
8.34
1.97

5.42

 

 
 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)
10.76
2.89

7.06

 

 
 
 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.21
0.06

0.16

 

 
 
 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.21
1.34

1.40

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
2.46
2.30

2.72

 

                                                  

LOCAL AGENCY FURTHER INFORMATION

 

HISTORY

 

Incorporated as Hindustan Woollen Mills and promoted by M P Birla in 1945, the company was renamed Universal Cables (UCL) in 1961. It manufactures and markets electric cables, wires and conductors. It also co-promoted Vindhya Telelinks which manufactures jelly-filled telephone cables. Along with Vindhya Telelinks and Ericsson Cables, Sweden, Universal Cables promoted a new company, Birla Ericsson Opticals, to manufacture fibre optic cables.

 

Subject tied up with BICC, UK, world's largest cable producer, for production of paper-insulated power cables. The company has since expanded to produce bare overhead conductors, copper alloy trolley wires and catenaries for electric traction, thermoplastic cables upto and including 11 KV, elastomeric cable upto 35 KV, continuous cast and rolled aluminium, aluminium alloy rods, etc.

 

Its capacitor division tied-up with Toshiba, Japan, and General Electric, US to manufacture paper-insulated power capacitors. The cable division, in collaboration with Asea Kabel, Sweden, manufactures polythene power cables upto 33 KV, which was extended to extra3-high tension cables upto 145 kV and fluoroplastic cables. Subject has developed several new products for the Defence sector as well as electronic equipment and has also embarked on collaborative research in specific hi-tech areas in association with BARC and IIT.

 

The company is planning to diversify its product range and enter into manufacture of Telecommunication Cables. It also came out with Rights Issue in April, 1999 at a premium of Rs.10 per shares. Vindhya Telelinks Limited and Birla Ericsson Optical Limited, promoted by the company have shown improved results.

 

The year 2000-01, the company's turnover increased about 26% inspite of trying times due to the company's strategy to diversify into Polythene Insulated Jelly Filled (PIJF) Telephone Cables. The company along with Vindhya Telelinks Limited, and Birla Ericsson Optical Limited, has promoted a new company called Optic Fibre Goa Limited, for the manufacture of Optical Fibre which is under implementation and is scheduled to go into production in the coming year.

 

 

GENERAL AND CORPORATE MATTERS 

 

The Company has created yet another milestone by achieving the highest ever Net Profit of Rs.271.400 Millions with an impressive growth of about 288%.

 

The true hallmark of the Company’s impressive performance is attributed to its sharp focus on the bottom-line improvement by re-formatting its business portfolio with major thrust on high-end products and turnkey projects.

 

This has been a watershed year for the Company in the 220 kV Cables segment with commendable execution figures in just second year of commercialization. Looking into the success in the Extra High Voltage (EHV) Cable market, the Company is expanding its capacity and range by installing the 2nd VCV line with technology transfer from Furukawa Electric Company Limited, Japan. This is slated for commissioning in September, 2010.

 

The long duration Pre-qualification (PQ) Test on 220 kV EHV Cables manufactured by the Company is currently undergoing at an overseas laboratory.

 

The Company has been imparting rigorous on site and off site training to its employees for laying, installation and commissioning jobs of 220 kV cables to have an edge over the competitors by developing these capabilities in a cost effective manner to provide end-to-end solutions.

 

The Company has, during the year, been accredited to SA 8000:2008, an International Standard which aims to promote continuous improvement for work place condition and ensures the ethical sourcing for production of goods and services thereby testifying the Company’s commitment to global best industrial practices.

 

The Company has made noteworthy progress by being elevated to “Star Export House” category. The Company has also won the EEPCINDIA (formerly Engineering Export Promotion Council) coveted Star Performer Silver Shield award for 2007-08 in the category of Medium Enterprises – Miscellaneous engineering goods which has been announced during the year.

 

The Optic Fibre Goa Unit of the Company has, during the year, been awarded with a Certificate of Merit by ELCINA-DUN and BRADSTREET for outstanding achievement in export of Optical Fibres in the Large Scale Sector.

 

The Company has recently partnered with Innovites B.V., a software development Company of Netherlands to implement Cable Builder, the popular cable design software of Cimteq Limited The implementation of Cable Builder will seamlessly integrate designing, costing and quoting process of the Company, thereby giving it the cutting edge capabilities.



JOINT VENTURE            

 

While the market conditions are not very much favourable, Birla Ericsson Optical Limited, a venture promoted by the Company in association with Vindhya Telelinks Limited and Ericsson Cables AB, Sweden has shown satisfactory performance during the year.

 

Following the alliance with Japanese major Furukawa Electric Company limited, the Company has incorporated a new Joint Venture Company Birla Furukawa Fibre Optics Limited in the State of Goa to deal in optical fibre and allied businesses. The Joint Venture Company is yet to commence commercial production.

 

 

MANAGEMENT DISCUSSION AND ANALYSIS 

 

INDUSTRY STRUCTURE AND DEVELOPMENTS 

 

The Company prides itself with its remarkable history as the foremost quality manufacturer of cables and capacitors. The company’s brand “UNISTAR” is an emblem of quality, backed by world-class technology. With the market environment shifting to a more competitive and complex plain, the Company has taken strategic measures by moving up the technology path and shaping its future with a distinctive competitive edge to ensure long term sustainable growth. The true hallmark of the Company’s impressive performance is attributed to its sharp focus on the bottom-line improvement by re-formatting its business portfolio with major thrust on high-end products and turnkey projects.

 

With the competitive climate intensifying the Company continues its drive towards waste control measures by reduction of scrap and raw material over-usage, squeeze in manufacturing cycle-time, disciplined inventory control and energy conservation. To improve customer response time, the company has also implemented advanced software for designing and data management, which gives the Company a cutting-edge lead over competition. This software would eventually integrate with the existing ERP (SAP) system.

 

The demand for power cables and capacitors are inextricably intertwined with the power sector growth matrix. The power sector which had been adversely affected by the global recession is now returning to the recovery path, promising an upward demand cycle for the entire electrical power industry where the cable and capacitor industry is no exception. There has always been an air of apprehension surrounding the long awaited potential demand from the power sector which did not live up to its true expectation. Nevertheless, there is a note of optimism with the gaining momentum in the power sector as seen through the achievements and pro-active measures initiated by the Government. The achievements, so far, in the 11th Plan clearly outperforms the 10th Plan. In the generation sector, the thrust on the Ultra Mega Power Plants (UMPPs), with further expansion plans, coal import strategy to support thermal power stations, bulk gas allocation made available to power sector, acceleration on the pace of development of hydro projects, environmental imperatives driving rapid growth in the renewable energy segment and the strategy on energy security which is projecting sharp growth in the nuclear power, are all seen to spur the demand growth for power cables.

 

In the same breath, the power transmission sector is pumping in heavy investments and vigour by constructing gigantic power transmission super highways throughout the length and breadth of the country to match the increasing power generation and also for balancing the inter-state power demand. Not surprisingly, the ripple-effect out of this vigorous activity is boosting the demand in the sub-transmission segment and distribution networks as well, which are predominantly dependent on underground power cable links. In overall, these pointers, gives the industry a heartwarming confidence on a promised long-term sustainable growth of demand for power cables.

 

The other infrastructural sectors like port construction, modernization of airports, railways, mining sectors, road and real estate construction, heavy engineering, defence, oil and petroleum plants are returning to its vibrant expansionary phase and responding as the demand multiplier for power cables segment.

 

Company has developed Automatic Power factor Improvement systems for 3.3kV and 6.6kV range and has started executing orders. In LV range, the Company has established its place in market for Automatic Power factor improvement Capacitor Panels, and has also started exporting these Panels. To reduce manufacturing cost the company has updated its fabrication shop for Capacitor boxes and mounting structures.

 

 

PRODUCT-WISE PERFORMANCE, OPPORTUNITIES, THREATS AND BUSINESS OUTLOOK 

 

Power Cables and Capacitors 

 

Gross revenue from this segment during the year was Rs.4582.800 Millions as compared to Rs.5779.000 Millions during the previous year. Despite the fall in the sales turnover, the Company improved its bottom line over the previous year by focussing its energy and resources on high margin products, mainly in the EHV segment and choosing to play selectively in the LV and MV segments which are going through a price war phase.

 

EHV Power Cables

 

The market demand in this segment is rapidly gaining higher momentum with fast rate of urbanization across the country. It is compellingly evident that due to environmental issues and right-of-way constraints, construction of overhead tower and power lines are no longer feasible. Thus, the only alternative to transport power to cities and industrial towns is through EHV underground power transmission systems using power cables, which is world-over euphemistically characterized as “invisible power transmission” system. The EHV underground cable transmission system has advantages of lower gestation period for implementation, free from land acquisition and right-of-way problems, lower transmission losses, freedom of maintenance and lower life-time-cost. These factors are well accepted by Utilities, who are now favouring underground cables from the standpoint of techno-economic feasibility, thus accelerating the demand.

 

In the EHV segment, 220kV and 400kV cable is the next frontier of growth in the transmission segment. This has been a watershed year for the Company in the 220kV segment with commendable execution figures in the second year of commercialization. Looking into the success in the EHV market from 66kV to 220kV, the company is ramping up the capacity and range by installing the 2nd VCV line. This line is slated for commissioning in September, 2010. The technology transfer from Furukawa Electric Company Limited has richly contributed to the Company by providing latest know-how in design, manufacturing, cable jointing and installation methods.

 

The Company steadfastly maintains its aggressive focus on specialty industrial cables which has a wide spectrum of application. The key market areas are the renewable energy, railways, steel plants, cement plants, oil-rig application, mining industry, oil and petrochemical plants, shipbuilding, heavy engineering. After a slack period due to the global financial crisis, these industries, largely linked to the core sector, are now showing renewed buoyancy in their activity, thus promoting demand growth for cables.

 

A few key international players are likely to make a foray into this market by setting-up rubber cable manufacturing base in the country.

 

The intensity of competition has increased with capacity build-up by manufacturers. The market prices have taken a further dip and are expected to remain flat for some period. A few more new players from the LV segment are upgrading their facilities for entering into the MV market which would ignite further competition. The size of the MV market is expected to grow with the impetus on the power sector and investments in the infrastructure industries. The company strongly feels that quality manufacturers will survive in the long run as there is a growing awareness by customers on true economic benefits derived from life-time-cost. In this respect, the company, as the quality leader, has a winning edge through technology leadership over its competitors.

 

Fierce competition continues in the LV power cable segment. The market is deluged with low quality products from the small scale sector. The Company has shifted its focus from this run-of-mill product segment and does not intend to expand its capacity for LV cables due to pressures in the market plagued by overcapacity, intense competition, price erosion and low margins. The company with its brand advantage maintains its presence and is protecting its market with the selected group of quality conscious customers.

 

Despite the Global financial crisis, the Company has been successful in increasing its export sales. The Company has made noteworthy progress by being elevated to “Star Export House” category. It has also won the EEPCINDIA (formerly Engineering Export Promotion Council) coveted star performer Silver Shield Award for 2007-08 which has been announced this year. The company has taken membership with the Federation of Indian Export Organisation (FIEO), who plays an active role in export promotion.

 

 

OPTICAL FIBRE

 

Gross revenue from this segment during the year was Rs.899.900 Millions as compared to Rs.706.300 Millions during the previous year. Percentage of exports of the Company to total revenue in this business during the year has increased to 45.40% as against 34.06% during the previous year.

 

It is evident that even amidst so much economic uncertainty, a strong, dependable and sustainable communication network is a key input factor in economic growth.

 

Indian Telecom Industry has reported robust growth in 2009 despite global economic slowdown. Thanks to the affordable tariff options, aggressive stance adopted by service providers in gathering market share and the keen interest shown by the regulator to ensure that the government targets for telecom are achieved.

 

Amongst the important developments during the year was the Department of Telecommunications inviting applications from the operators to bid for the 3G services. This itself is expected to give a boost to the requirement of Optical Fibre as 3G services shall necessarily require huge networking of Optical Fibre cables to start the high bandwidth and capacity.

 

The government operator BSNL, apart from recently launching FTTH deployments by awarding several contracts for turnkey installations in 2009, has also tendered for a new optical backbone on behalf of India’s Ministry of Defence. All these requirements are expected to give a cascading effect on the Optical Fibre market in India.

 

Although there is increase in demand, Optical fibre cable prices remain under competitive pressure, with reports of lower prices from almost all regions across the world and will constrain the ability of domestic players to resort to any considerable price hike in near future.

 

With aggressive targets for the year 2010 and beyond, the government is concentrating on providing a level-playing field and unbiased environment for this segment to grow competitively. This includes encouraging service providers to focus on the latest technologies available, their applicability in Indian conditions and ensuring independence to them on other fronts like network expansion, rural telephony, Broadband coverage and R&D initiatives. With a number of new service providers who received licenses and spectrum and in a situation where the consumer is definitely going to be in advantageous position, emphasis will be on service quality, which will ensure deployments of next-generation backbone networks of which optical fibre is one of the most important component.

 

 

FINANCIAL REVIEW:

 

The financial performance of the Company during the year 2009-10 can be ascertained from the following key indicators:

 

·         The Net Profit for the year at Rs.271.400 Millions was higher by almost 288% as compared to Rs.70.000 Millions in the previous year mainly due to reformatting its business portfolio with major thrust on high end products and turnkey projects.

·         Financial expenses during the year decreased to Rs.104.000 Millions from Rs.230.400 Millions in the previous year mainly due to swapping of high interest bearing Rupee Loan by low interest bearing Foreign Currency Loans.

·         Total Borrowings increased by Rs.86.300 Millions mainly due to increase in inventory and Foreign Currency Loans.

·         The market value of quoted investments increased to Rs.844.300 Millions as on 31st March, 2010 from Rs.390.700 Millions as on 31st March, 2009.

·         Inventories increased from Rs.857.200 Millions as on 31st March, 2009 to Rs.1107.400 Millions as on 31st March, 2010 mainly due to increase in finished goods awaiting dispatch clearances.

·         Sundry Debtors decreased to Rs.986.900 Millions as at 31st March, 2010 as compared to Rs.1320.200 Million as at the end of the previous year due to concentrated efforts put in for better realization.

 

 

TRADE REFERENCE:

 

  • Universal Isolators
  • Universal Magnoflux Private Limited
  • Shri Hans Electricals Private Limited
  • Western Electrical Private Limited
  • Western Hivolts Equipments Private Limited
  • Danke Switchgears and MPI Machines Limited

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2010

 

(RS. IN MILLIONS)

                                                                                                                                   

Particulars

Quarter Ended

Nine Months Ended

31.12.2010

(Unaudited)

31.12.2010

(Unaudited)

 

 

 

Sales/Income From Operations

1387.500

4311.300

Less: Excise Duty

109.200

343.900

Net Sales / Income from Operations

1278.300

3967.400

 

 

 

Other Operating Income

20.400

60.400

Total Income

1298.700

4027.800

 

 

 

Expenditures

 

 

a)(Increase)/Decrease in stock in trade work in progress

15.800

(22.600)

b) (i) Consumption of raw materials

    (ii) Material Purchased /Expenses Incurred on Contracts

797.500

7.300

2629.200

56.800

c)Cost of traded goods

102.900

226.700

d)Employee cost

86.800

280.300

e)Depreciation

40.700

127.500

f)Other Expenditure

170.400

508.400

 

 

 

Total

1221.400

3806.300

 

 

 

Profit for operations before other Income, Interest and Taxes

77.300

221.500

 

 

 

Other Income

7.800

24.200

 

 

 

Profit before Interest and Taxes

85.100

245.700

 

 

 

Interest

18.200

56.800

 

 

 

Profit before  Taxes

66.900

188.900

 

 

 

Tax Expenses (including Deferred Tax, Fringe Benefits Tax and Income Tax for earlier years)

22.100

62.100

Net Profit

44.800

126.800

 

 

 

Paid Up-Equity Share Capital (Face Value of Rs.10 each)

231.300

231.300

 

 

 

Reserve (Excluding, Revaluation Reserve)

--

--

 

 

 

Basic and Diluted EPS (Rs.) (not annualised)

1.94

5.48

 

 

 

Aggregate of Public Shareholdings*

 

 

No. of Shares

10890331

10890331

Percentage of Shareholding

47.08

47.08

 

 

 

Promoter and Promoter Group Shareholding

 

 

(a)Pledged / Encumbered

 

 

- Number of Shares

--

--

- Percentage of Shares (as a % of total shareholding of promoter and promoter group)

--

--

- Percentage of Shares (as a o/o of total share capital of the Company)

--

--

 

 

 

(b) Non-Encumbered

 

 

- Number of Shares

12239923

12239923

- Percentage of Shares (as a % of  total shareholding of promoter and promoter group)

100.00

100.00

- Percentage of Shares (as a o/o of total share capital of the Company)

52.92

52.92

 

 

 


NOTE:

 

* Includes 1855706 equity shares (8.02%) continued to be held by certain Companies, Trusts, Societies, etc. earlier shown as a part of the Promoter Group but now shown under Public Shareholding as per amended Clause 35 of the Listing Agreement.

 

 

Particulars

Quarter Ended

Nine Months Ended

 

31.12.2010

(Unaudited)

31.12.2010

(Unaudited)

Segment-wise Revenue, Results and Capital Employed

 

 

1. Segment Revenue

 

 

a) Power Cables and Capacitors

1210.700

3767.800

b) Optical Fibre

88.000

260.000

Total

1298.700

4027.800

 

 

 

Less: Inter-Segment Revenue

--

--

Net Sales/Income from Operations

1298.700

4027.800

 

 

 

2. Segment Results

 

 

Segment Profit/(Loss) before Interest and Tax

 

 

a) Power Cables and Capacitors

72.600

241.300

b) Optical Fibre

6.700

(12.000)

Total

79.300

229.300

 

 

 

Less:

 

 

i) Interest (Net)

17.700

52.700

ii) Other unallocable expenditure net of unallocable income

(5.300)

(12.300)

 

 

 

Profit before Tax

66.900

188.900

 

 

 

3. Capital Employed

 

 

(Segment Assets - Segment Liabilities)

 

 

a) Power Cables and Capacitors

--

3098.300

b) Optical Fibre

--

316.600

c) Unallocated

--

(1347.200)

 

 

 

Total

--

2067.700

 

 

NOTES:

 

·         The Company had no investor complaints pending at the beginning of the quarter.10 complaints were received and disposed off during the quarter ended December 31, 2010.

 

·         The above results have been reviewed by the Audit Committee and have been taken on record in Meeting of the Board of Directors held on the January 31, 2011. The Statutory Auditors of the Company have carried out Limited Review of the above result.

 

·         The Board of Directors in their meeting held on July 27, 2010, decide to sell the manufacturing operation of Optical Fibre Goa Unit of the company to Birla Furukawa Fibre Optics Limited, a Joint Venture company. Accordingly, on October23, 2010, the company has sold the specified assets having cost of Rs.334.268 Millions (WDV of Rs.129.633 Millions) at Rs.141.351 Millions and recorded gain of Rs.11.718 Millions.

 

·         Figures of previous year/periods have been regrouped/recast, wherever considered necessary

 

 

FIXED ASSETS

 

§         Freehold Land

§         Leasehold Land

§         Buildings

§         Plant and Machinery

§         Furniture

§         Office Equipments

§         Vehicles

§         Intangible Assets

 

 

WEBSITE DETAILS:

 

OVERVIEW

 

Subject was established in 1962 by late Shri M.P. Birla, the then Chairman, with modern plant for manufacture of Paper Insulated Cables. Since then, the Company has made rapid progress achieving a world class reputation.


In the year 1977, collaborating with M/s. Asea Kabels AB, Sweden (now called ABB Cables), company brought XLPE technology to India. The Company’s other collaborations are with internationally acclaimed leaders in their respective fields.


Company is a leader in the Indian Cable Industry with the widest product range. The cable division has a very wide range of product. It includes Low Voltage, Medium Voltage and Extra High Voltage XLPE Power Cables upto 500 kV grade, PVC and Rubber Insulated Power Cables upto 11 kV grade, Control and Instrumentation Cables upto 1.1 kV for any number of Cores/Pairs and speciality Rubber Cables for Trailing/Flexible standards to suit to customer requirements. Its Cables and Capacitors are known by the Brand Name “UNISTAR”.


To meet the growing demand of Extra High Voltage Cables (220 kV and above), company has already ventured into this market segment. Company has adopted VCV process at its Satna Plant in technical collaboration with the World Leader in Cable technology, Furukawa Electric Company Limited, Japan. The technical collaboration covers Cable designing, Manufacturing, Laying, Jointing, Testing and Installation.


Company has also tied-up with Viscas Corporation, Japan (Power Cable Alliance of Furukawa & Fujikura) for sourcing new generation cable jointing accessories for 220 kV and above.

 

Apart from manufacturing Electrical Cables for multifarious applications, Company is having full fledged EPC Division to execute Turnkey Contracts for various Utilities/Projects.


Company has now positioned itself as a complete solution provider for EHV Underground Power Cables Transmission System upto 500 kV, involving designing, manufacturing, laying, jointing and installation.


The 220 kV Cables prototype sample manufactured by company has been successfully Type Tested as a complete cable system at CPRI, Bangalore creating a land mark in itself as this is the first successful 220 kV cables system Type Test in India. Company has successfully executed orders for 220 kV Cables.


The Capacitor Division of the Company, which commenced operation in the year 1967, manufactures world class All Poly Propylene (APP) Capacitors for AC applications. This Division was set up in collaboration with Toshiba, Japan for manufacture of Paper and Power Capacitors. In 1977, this Division entered into another technical collaboration with General Electric Company of USA for manufacture of Mixed Dielectric Capacitors and in 1985 for manufacture of All PP Dielectric Capacitors.

 

The product range includes Low and High Voltage Capacitors (415 VAC to 220 KVAC), APFC Panels, Medium Frequency Water Cooled Capacitors for Induction Furnace Application, Surge Protective Capacitors, Tuned and Detuned Filter Capacitors, DC Capacitors. This Division also provides services like Automatic PF Correction Systems, Harmonic Analysis and PF Studies.


The Capacitor Division is rated to be the foremost manufacturer of All PP Power Capacitors in LT and HT Range in the country.

 

 

MANAGEMENT:

 

Shri H.V. Lodha,

Shri H.V. Lodha, He is an eminent and young Chartered Accountant and has served as partner of M/s Lodha and Co., Chartered Accountants. He has been actively involved in significant assignments in the areas of takeovers and mergers/ reconstructions and rehabilitations, international and domestic financing, project structuring capital mobilisation, joint-ventures and collaborations. He is serving on the Managing Committee of ASSOCHAM. He has served on the Executive Committee of FICCI and as Chairman of its Corporation Laws and Governance Committee and Co-Chairman of its Young Leaders Forum. He has served as a Member of Working Group on Corporate Governance set by the Department of Company Affairs, Government of India and Working Group to frame guidelines for the registration and operations of the securitisation Companies and Asset Reconstruction Companies constituted by the Reserve Bank of India. He has served as Member of the Accounting Standards Board of The Institute of Chartered Accountants of India and alternate member of the National Advisory Committee on Accounting Standards set up by Government of India. He has served as Vice President of the Indian Chamber of Commerce, Calcutta and as Chairman of its Economic Affairs Committee, Banking and Finance and Direct Tax Committees. He has served as Honorary Consul of the Government of Romania for West Bengal, Orissa and Bihar. Also served as the Vice Consul of the Republic of Philippines for Eastern India.

 

Shri S. N. Prasad,

Shri S. N. Prasad, He did his graduation in Commerce from Allahabad University in 1940. He also passed the professional course of Company Secretaries and he is now a Fellow of Institute of Company Secretaries of India (FCS). For one year i.e. 1940-41 he worked with a Tata Concern in Patna and thereafter he joined Birla Jute Mfg. Company limited in 1941 (Former name of Birla Corporation Limited), a M.P.Birla Group Company. He commenced his career under the supervision and overall control of late Syt. M.P.Birla. He was President of Birla Corporation Limited. At present he is a wholetime Director of The Punjab Produce and Trading Company Private Limited an Investment Company of M.P. Birla Group and he is still continuing in service of this Group. In addition to the said The Punjab Produce and Trading Company Private Limited he is Director of many Companies under M.P. Birla Group of Companies and also Trustees of many Trusts and Societies under the same Group.

 

Dr. S.R. Jain

Dr.S.R. Jain, He is an expert in the Management of Steel and Heavy Industries and has over 40 years of experience in this field. He has also been the Chairman of Steel Authority of India Limited and Heavy Engineering Corporation Limited. He has also served as the President of Indian Institute of Metals and is currently the Chairman of Consteel India (Private0 Limited, a Consultancy Company based in Delhi.

 

Shri S.S.Kothari,

Shri S.S.Kothari, He is a consulting Engineer by profession. He has great experience in operation of Cement Plants. He has served for 5 years in design and manufacture of Cement Plants and heavy machinery at Indian Sugar and General Engineering Corporation, Haryana and 30 years as Managing Director of Delhi based Consultancy Company involved in design and engineering of new Cement Plants.

 

Shri S.C. Jain

Shri S.C. Jain, He did his graduation from Lucknow Christian College in 1958 and he is also a Law Graduate of Calcutta University. He obtained the Master‘s degree in Social work with specilisation in Labour Relations and Personnel Management from J.K. Institute, University of Lucknow. He is life member of National Institute of Personnel Management and was Examiner and Paper Setter for the DPM Course of the Institute. He was also Chairman of the Labour Sub-Committee of the Chamber of Commerce and a nominee of the Chamber on the Minimum Wages Advisory Board constituted by the Government of West Bengal. He has over 40 years experience in Management of Industrial Relations. He has also written a book on “Calcutta High Court 50 years Digest of Important Labour Cases” which is a unique digest of such cases and a very useful guideline to employers, employees, trade unions and to practising managers.

 

Shri J.C.Sharma

Shri J.C.Sharma, He began his professional career as a Commissioned Officer in the Indian Army (1967-72) and was awarded with the “Sena Medal” for Gallantry in 1971 Indo-Pak War. He joined the elite India Foreign Service in 1972 and has served as First Secretary (Consular and Political) and First Secretary (Commercial) in the Indian Embassies in Tokyo and Jakarta respectively. A brilliant Organizer, he was Director (Protocol) for the 7th Non-Aligned Summit and the Commonwealth Heads of Government Meeting in Delhi in the year 1983. He was the First Foreign Service Officer to be deputed as Joint Secretary Defence Exports. He prepared the blue print for Defence Exports from India and for first Aero India in Bangalore. He also served on the Board of Bharat Earth Movers Limited (BEML), a large public sector undertaking manufacturing defence and earth moving equipment and railway coaches. He has served as Secretary, External Affairs and Member Secretary of the High Level Committee on Indian Diaspora. He was the brain behind the idea of celebrating ‘Pravasi Bhartiya Divas’ and organized first two Pravasi Divas in Delhi. He was advisor in the PHD Chamber of Commerce during its centenary year January 2005 to January 2006.

 

Shri Dinesh Chanda,

Shri Dinesh Chanda, After doing B.Sc from BHU in 1955, he did B.E (Electrical) from University of Roorkee in 1958. He is a Life Member of Institution of Engineers (I) and also of Indian Institute of Welding. He is a Chartered Engineer (I) since July 1995. In his professional career spanning over 46 years upto Feb 2006, he contributed in Govt/PSU and Private Sector Industries. He started with Tata Power Company Limited, Bombay and moved to U.P. State Electricity Board in a Hydel power project.  Later on he held various positions in Bharat Heavy Electrical Limited and participated in technology transfer and absorption from Siemens, Germany for manufacture of 200 MW/500 MW thermal sets. He has been exposed to Production, Planning and Control of Electrical Machines for 1˝ years at USSR and Germany. He moved to Heavy Engineering Corporation Limited, Ranchi and was Director on the Board for 6˝ years. During his tenure, technology transfer in latest steel making techniques with SMS, Germany and heavy coal mining machinery from USA and U.K. and other equipment were absorbed. After this, he had a long stint in cement production-optimising energy consumption, introducing systems and debottlenecking for enhanced capacity was his key contribution. Throughout his career he has been an enabling, empowering and charismatic personality.

 

Shri S.K.Daga

Shri S.K.Daga, He is a Commerce graduate and holds a bachelor degree in Law. He has been associated with the MP Birla Group for a long time and has served various key positions in the Group Companies. At present, he is serving as Director of several MP Birla Group Companies and also serving as Trustee of several Trusts and Societies under the management of MP Birla Group. He has also been on the Boards of several reputed Companies and due to his vast experience in industry, he is considered as an expert in the commercial and financial areas.

 

Shri S.P.Tamrakar,

Shri S. P.Tamrakar, He did M.Tech (Struct. Engg) in 1958 from I.I.T. Kharagpur and he qualified for Indian Railways Service securing 1st position in all India Exam held by U.P.S.C. He is also a Member of Institution of Engineers. He served Indian Railways as a Class I Officer for 3 years. He is a Practising Architect and Consulting Engineer since 1963. He is a Director in Vindhya Boards Private Limited. He was the President of Vindhya Chamber of Commerce and Industries during 1985 to 1990 and Vice President of Deendayal Shodh Sansthan, a National body dedicated to rural development and general enlistment of the community. He is President and Secretary of various other Social Institutions also.

 

Shri D. R. Bansal

Company executive having rich and varied experience of over 46 years in various facets of cable and other industries including in the field of administration, production and marketing. His strength also includes strong relationship management, international alliances/tie ups and business development. He is actively associated with various cable industry forums in India and abroad and also served at the helm of all renowned power and telecommunication cables industry association(s) in India for several years.

 

 

AWARDS AND RECOGNITION

 

·         Recognition of in house R&D Laboratory by Department of Science and Technology, Government of India

·         Star Export House status from Ministry of Commerce and Industry, Government of India

·         National Safety Award consecutively for 25 Years from the Government of India

·         Best Supplier Award from TATA Steels Limited

·         Excellence Service Award from BSES Limited

·         National Safety Awards for the year 2008 in the WINNER category from the Ministry of Labour and Employment, Govt. of India.

 

 

NEWS

 

Date: 04.10.2010

 

NATIONAL SAFETY AWARDS

 

UCL have been awarded National Safety Awards for the year 2008 in the Winner category from the Ministry of Labour and Employment, Govt. of India for:

 
1. Longest Accident Free Period, and 

 
2. Lowest Average Frequency Rate of accidents.

 

 

                                                                                                                                    


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.45.21

UK Pound

1

Rs.74.30

Euro

1

Rs.64.40

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

51

 

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

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.