|
Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
TEGH CABLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
196, Tegh House, Shaheed Bhagat Singh Co-operative Society Limited,
Andheri (East), Mumbai-400059, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089566 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1995PTC089566 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT14815D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT1718N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Cable Wires. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 80000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
196, Tegh House, Shaheed Bhagat Singh Co-operative Society Limited,
Andheri (East), Mumbai-400059, |
|
Tel. No.: |
91-22-67347600 (100 Lines) |
|
Fax No.: |
91-22-28312732 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Surinder Jaswant
Singh
Atal |
|
Designation : |
Director |
|
Address : |
175, Atal Nivas, Bhagatsingh Housing Society, J B Nagar, Andheri
(East), Mumbai-400059, |
|
Date of Birth/Age : |
14.11.1953 |
|
Date of Appointment : |
15.06.1995 |
|
DIN No.: |
01747957 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U31300MH1995PTC089566 |
TEGH CABLES
PRIVATE LIMITED |
Director |
15-06-95 |
15-06-95 |
Active |
NO |
|
2 |
U74999MH2011PTC218587 |
ATAL PROJECTS
PRIVATE LIMITED |
Director |
14-06-11 |
14-06-11 |
Active |
NO |
|
Name : |
Mrs. Gurdeep Kaur Atal |
|
Designation : |
Director |
|
Address : |
175, Atal Nivas, Bhagatsingh Colony, J B Nagar, Andheri (East),
Mumbai-400059, |
|
Date of Birth/Age : |
29.09.1957 |
|
Date of Appointment : |
15.06.1995 |
|
DIN No.: |
01741884 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U31300MH1995PTC089566 |
TEGH CABLES
PRIVATE LIMITED |
Director |
15-06-95 |
15-06-95 |
Active |
NO |
|
2 |
U74999MH2011PTC218587 |
ATAL PROJECTS
PRIVATE LIMITED |
Director |
14-06-11 |
14-06-11 |
Active |
NO |
|
Name : |
Mr. Karandeep Surinder Sjngh Atal |
|
Designation : |
Additional Director |
|
Address : |
B-175/ Atal Nivas, Shahid Bhagat Singh Housing Society, J.B Nagar,
Andheri (East), Mumbai-400059, |
|
Date of Birth/Age : |
16.10.1985 |
|
Date of Appointment : |
18.04.2008 |
|
DIN No.: |
01741600 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U31300MH1995PTC089566 |
TEGH CABLES
PRIVATE LIMITED |
Director |
19-09-08 |
18-04-08 |
Active |
NO |
|
2 |
U74999MH2011PTC218587 |
ATAL PROJECTS
PRIVATE LIMITED |
Director |
14-06-11 |
14-06-11 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Surinder Jaswant
Singh
Atal |
|
8250 |
|
Gurdeep Kaur Atal |
|
18750 |
|
Banpreet Singh S Atal |
|
58000 |
|
Karandeep Surinder Sjngh Atal |
|
15000 |
|
Total |
|
100000 |
As on 30.09.2011
|
Equity Share
Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Cable Wires. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ujjval K Mehta and Associates Chartered Accountants |
|
Address : |
105, Siddhivinayak Apartment, |
|
Tel. No.: |
91- 22 -26185 015 |
|
Mobile No.: |
98215 21972 |
|
PAN No.: |
AACPM0787C |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.000 |
5.139 |
1.054 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.000 |
15.139 |
11.054 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.183 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
49.469 |
22.351 |
0.524 |
|
|
TOTAL BORROWING |
50.652 |
22.351 |
0.524 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
70.652 |
37.490 |
11.578 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.444 |
2.359 |
0.080 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
71.437
|
37.797 |
25.032 |
|
|
Sundry Debtors |
139.719
|
106.898 |
30.749 |
|
|
Cash & Bank Balances |
8.233
|
1.271 |
4.505 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
29.233
|
18.737 |
5.204 |
|
Total
Current Assets |
248.622
|
164.703 |
65.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
176.100
|
83.350 |
49.218 |
|
|
Other Current Liabilities |
0.000
|
41.783 |
4.226 |
|
|
Provisions |
7.423
|
4.562 |
0.685 |
|
Total
Current Liabilities |
183.523
|
129.695 |
54.129 |
|
|
Net Current Assets |
65.099
|
35.008 |
11.361 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.109 |
0.123 |
0.137 |
|
|
|
|
|
|
|
|
TOTAL |
70.652 |
37.490 |
11.578 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
566.577 |
397.987 |
125.266 |
|
|
|
Other Income |
2.803 |
0.950 |
0.029 |
|
|
|
TOTAL |
569.380 |
398.937 |
125.295 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials |
525.295 |
366.503 |
115.918 |
|
|
|
Administrative Expenses |
35.349 |
26.156 |
4.346 |
|
|
|
Selling & Distribution Expenses |
0.000 |
0.000 |
3.120 |
|
|
|
TOTAL |
560.644 |
392.659 |
123.384 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.736 |
6.278 |
1.911 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.526 |
0.263 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.210 |
6.015 |
1.906 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.349 |
1.931 |
0.723 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.861 |
4.084 |
1.183 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.139 |
1.055 |
0.129 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.000 |
5.139 |
1.055 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
48.61 |
40.85 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.85
|
1.02 |
0.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.27
|
1.51 |
1.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.84
|
3.60 |
2.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.40 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.71
|
10.04 |
4.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.27 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
---------- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
No |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
-------------- |
|
Litigations that the firm/ Promoters Involved in |
--------- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
-------------- |
|
Buyer visit details |
-------------- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
NOTE:
The registered
office of the company has been shifted from 105, Mahavir Bldg, 44/46,
Popatwadi,
COMPANY PERFORMANCE:
The Company had a Gross
turnover of Rs. 569.381 Millions during the financial year 2010-2011 as against
Rs. 398.938 Millions in the previous year. After providing Rs. 1.526 Millions
(Rs. 0.263 Millions previous year) for depreciation, there has been a Profit of
Rs. 7.210 Millions as against profit of Rs. 6.016 Millions in the previous
year. The Directors are hopeful to improve the business environment and the
earnings in the ensuing years.
Form 8
|
Corporate
identity number of the company |
U31300MH1995PTC089566 |
|
Name of the
company |
TEGH CABLES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
196, Tegh House,
Shaheed Bhagat Singh CHSL., J.B. Nagar, Andheri Kurla Road, Andheri (East),
Mumbai – 400059, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10165645 |
|
Type of charge |
Book Debts Other |
|
Particular of
charge holder |
Punjab and Sind Bank,
J. B. Nagar, Andheri (East), Mumbai - 400059, Email: rajesh@srajeshco.com |
|
Nature of
description of the instrument creating or modifying the charge |
(1) Agreement of
hyp. of goods to secure a demand cash credit i.e. Form 192 (2) Agreement of
hyp. of book debts i.e. Form 193 to secure Cash credit limit and BG for Rs.
100.000 Millions. |
|
Date of
instrument Creating the charge |
28.04.2010 |
|
Amount secured by
the charge |
Rs. 100.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR - 1.50% = 12%
( present PLR is 13.50% ) Terms of Repayment (i) Cash credit
limit = on demand (ii) BG on or
before expiry of Bank Guarantee Margin (i) 25% Stock (ii) 35% Book
Debts (iii) 25% of BG Extent and Operation of the charge Stock of wires
and cables, book debts, bills and all other present and future current assets
of the company wherever situated. Others Security by way
of first charge |
|
Short particulars
of the property charged |
Stock of wires
and cables, book debts, bills and all other present and future current assets
of the company wherever situated. |
|
Particulars of
the present modification |
Cash credit limit
and B. g. limit stand enhanced from 5.00 to Rs. 100.000 Millions by present
modification. |
FIXED ASSETS:
AS PER WEBSITE:
PROFILE:
Subject takes this privilege to introduce themselves as the Authorised
Distributor of M/s. POLYCAB WIRES PRIVATE LIMITED One of the leading
manufacturers of Wires and Cables in the country having the highest turnover
among all the Cables Manufacturers for the financial year 2006-2007
As global technology distribution is becoming more customer focused to help
resellers and manufacturers succeed, Tegh Cables are at the forefront of this
evolution by continuously implementing faster and more innovative ways to help
resellers, manufacturers and others to meet their customer's demands.
Started in 1980 and till date they have focused on high value added
services to the customer by the day to day marketing, logistics and sales
department and by continuously upgrading the self according to the changing
scenario, they have enhanced the clientele by continuously conducting market
surveys and getting adapted to the changing trend
The clientelelist indudes the growing sectors like Steel, Power,
Petrochemicals, Defence, Pharmaceuticals, Automobile, FMCG, Textile, Cement,
Chemical, Reputed Builders, Developers, Contractors, Electrical Engineering
Companies and many more. They focus on high value added, high technology
products and are able to completely cater to the customized needs of the
clients by customer value, customer cost, customer convenience and customer
communication. They give value added service to the clients by registering the
self to “Excise” which allows them to pass on subsequent Modvat to consumers
and as “Polycab” being situated in
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. 56.28 |
|
|
1 |
Rs. 88.25 |
|
Euro |
1 |
Rs. 70.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
No |
|
--LITIGATION |
YES/NO |
No |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
No |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
No |
|
--EXPORT ACTIVITIES |
YES/NO |
No |
|
--AFFILIATION |
YES/NO |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
44 |
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.