|
Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
POLYCAB WIRES PRIVATE LIMITED (w.e.f. 15.06.2001) POLYCAB CABLES PRIVATE LIMITED AMALGAMATED WITH POLYCAB WIRES PRIVATE
LIMITED |
|
|
|
|
Formerly Known
As : |
POLYCAB WIRES LIMITED |
|
|
|
|
Registered
Office : |
HICO House, 1st Floor, 771, Pandit Satwalekar
Marg, Mahim (West), Mumbai - 400016, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.01.1996 |
|
|
|
|
Com. Reg. No.: |
11-096105 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.655.738 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1996PTC096105 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15167F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP6474E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of LT PVC / XLPE
Power, Control, Instrumentation Cables, Flexible, House Wires, ACSR, AAAC,
Ariel Bunched wires. |
|
|
|
|
No. of Employees
: |
1500
(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 37000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record. The latest
financial are not made available with the government department. As per previous year’s financials there appears slight dip in
profitability. However, general financial position of the company appears to be good.
Performance capability is high. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long Term Rating = A |
|
Rating Explanation |
This rating denote
expectations of low default risk. The capacity for payment of financial
strong. |
|
Date |
December 2011 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Vimla |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-24327070 |
|
Date : |
02.02.2013 |
LOCATIONS
|
Registered Office / Head Office : |
1st Floor, HICO House, 771, Pandit Satwalekar
Marg, Mahim (West), Mumbai – 400 016, |
|
Tel. No.: |
91-22-24327070/ 74/ 75/ 24329118/ 24362199 / 673516466 |
|
Fax No.: |
91-22-24327075/ 24322141 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.74/ 7-11,
Daman Industrial Estate, Airport Dalwade Road, Village Kadaia, Daman –
396210, Union Territory, India |
|
Tel. No.: |
91-260-3291031/ 3291070/ 2220422/ 25/ 28 |
|
Fax No.: |
91-260-2221009 |
|
E-Mail : |
|
|
|
|
|
Halol Address : |
55/1, 65/1, Rameshwar Road, Baska Halol, District Panchmahal - 389350,
Gujarat, India |
|
|
|
|
Branch Office : |
Located At · New Delhi · Karnataka · Kerala · Tamilnadu · Andhra Pradesh · Pune |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Inder Thakurdas Jaisinghani |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
17/6, Khiaram Bhavan R.A. Kidwai Road, Wadala, Mumbai- 400003,
Maharashtra, India |
|
Date of Birth/Age : |
29.03.1952 |
|
Date of Appointment : |
20.12.1997 |
|
DIN No.: |
00309108 |
|
|
|
|
Name : |
Mr. Ramesh Thakurdas Jaisinghani |
|
Designation : |
Whole Time Director |
|
Address : |
701/2, |
|
Date of Birth/Age : |
07.05.1956 |
|
Date of Appointment : |
10.01.1996 |
|
DIN No.: |
00309314 |
|
|
|
|
Name : |
Mr. Ajay Thakurdas Jaisinghani |
|
Designation : |
Whole Time Director |
|
Address : |
17/6, Khaira, Bhavan, R.A Kidwai Road, Wadala, Mumbai - 400031,
Maharashtra, India |
|
Date of Birth/Age : |
12.01.1954 |
|
Date of Appointment : |
01.09.2007 |
|
DIN No.: |
00276588 |
|
|
|
|
Name : |
Mr. Ramakrishnan Ramamurthi |
|
Designation : |
Managing director |
|
Address : |
Flat No. A-44, Kalptaru Residency, Plot No. 107, Kamani Road, Mumbai –
400022, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1961 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
00120246 |
|
|
|
|
Name : |
Mr. Girdhari Jaisinghani |
|
Designation : |
Director |
|
Address : |
17/6, Khaira, Bhavan, R.A Kidwai Road, Wadala, Mumbai - 400031,
Maharashtra, India |
KEY EXECUTIVES
|
Name : |
Mr. Vilas Pandurang Unavane |
|
Designation : |
Company Secretary |
|
Date of Appointment : |
26.08.2008 |
|
PAN No.: |
AAAPU2413P |
|
|
|
|
Name : |
Ms. Vimla |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Inder Thakrudas Jaisinghani |
|
14999078 |
|
Ramesh Thakrudas Jaisinghani |
|
11999678 |
|
Ajay Thakrudas Jaisinghani |
|
12001910 |
|
Girshari Thakrudas Jaisinghani |
|
11999678 |
|
Bharat Ajay Jaisinghani |
|
3000996 |
|
Nikhil Ramesh Jaisinghani |
|
3000996 |
|
Reena Ramesh Jaisinghani |
|
960 |
|
Anil Hariram Haraiani |
|
2999400 |
As on 28.12.2012
|
Names of Allottee |
|
No. of Shares
Allotted |
|
International Finance Corporation |
|
5014453 |
|
Total |
|
5014453 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
8.50 |
|
Directors or relatives of Directors |
91.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of LT PVC / XLPE Power,
Control, Instrumentation Cables, Flexible, House Wires, ACSR, AAAC, Ariel
Bunched wires. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Electrical Cables and Wires |
KM |
981000 |
882920 |
Note:
Installed capacity is as certified by the management
of the company, on which auditors have relied, being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
1500 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe
Parade, Mumbai -400 005, Maharashtra,
India ·
Punjab
National Bank, ILACO House, Sir P.M. Road Fort, Mumbai – 400001, Maharashtra,
India ·
ICICI
Bank Limited, Land Mark Race, Cource Circle, Alkapuri, Baroda – 390015,
Gujarat, India ·
State
Bank of India ·
Standard
Chartered Bank, Fort, Mumbai, Maharashtra, India ·
Citi
Bank, Mumbai, Maharashtra, India ·
State Bank of India, Industrial Finance
Branch, Lekhraj Bhavan, Saki Vihar Road, Saki Naka, Mumbai - 400072, ·
HDFC
Bank, Fort, Mumbai, Maharashtra, India ·
Export
Importer Bank of India, Center One Building, World Trade Center, 21st
Floor, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
14th 15th and 16th Floor, The Ruby,29 Senapati Bapat Marg,
Dadar (West), Mumbai - 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
Pan No. : |
AABFS3421N |
|
|
|
|
Subsidiaries : |
· Jaisingh Wires Private Limited, Mumbai CIN No.: U31300MH1995PTC094751 Line of Business: Manufacturer, Exporter and Importer of
Cables and Wires · Polycab Cables Private Limited, Mumbai CIN No.: U31300MH1996PTC099083 Line of Business: Manufacturer, Exporter and Importer of Cables and Wires · Polycab Cables Industries Private Limited CIN No.: U74999MH2008PTC187471 · Polycab Wires Industries Private Limited CIN No.: U31401MH2007PTC175153 · Polycab Industries Daman Private Limited CIN No.: U74999MH2008PTC188260 · BNK Plastic Industries Private Limited CIN No.: U25200MH2008PTC187875 · Polycab Industries Private Limited CIN No.: U31300MH1998PTC114308 |
|
|
|
|
Joint Venture : |
·
Nexans Polycab Private Limited |
|
|
|
|
Key Management Personal : |
·
Mircocab I and L Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
91000000 |
Equity Shares |
Rs.10/- each |
Rs.910.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65588466 |
Equity Shares |
Rs.10/- each |
Rs.655.885
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
Rs.10/- each |
Rs.800.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65573770 |
Equity Shares |
Rs.10/- each |
Rs.655.738
Millions |
|
|
|
|
|
Notes:
Equity shares issued, subscribed and paid -up includes following Bonus
issues:
a) 2,500,000
equity shares of Rs.10/- each fully paid up were issued as bonus shares by way
of capitalisation of accumulated profits to shareholders in the ratio of one
equity share for every share held as on December 24, 1999
b) 25,000,000
equity shares of Rs.10/- each fully paid up were issued as bonus shares by way
of capitalisation of accumulated profits and general reserve in the ratio of
five equity shares for every one equity share held as on March 01, 2006.
c) 30,000,000
equity shares of Rs.10/- each fully paid up have been issued as bonus shares
during the year by way of capitalisation of accumulated profits and general
reserve in the ratio of one equity shares for every equity share held as on
March 23, 2007
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 |
655.738 |
655.738 |
600.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8831.037 |
8205.618 |
4919.367 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9486.775 |
8861.356 |
5519.367 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10525.531 |
8573.659 |
4355.996 |
|
|
2] Unsecured Loans |
2281.225 |
2443.120 |
460.349 |
|
|
TOTAL BORROWING |
12806.756 |
11016.779 |
4816.345 |
|
|
DEFERRED TAX LIABILITIES |
95.395 |
0.000 |
36.678 |
|
|
|
|
|
|
|
|
TOTAL |
22388.926 |
19878.135 |
10372.390 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3525.089 |
2891.307 |
1191.938 |
|
|
Capital work-in-progress |
2137.808 |
1289.384 |
930.376 |
|
|
|
|
|
|
|
|
INVESTMENT |
289.646 |
214.646 |
214.647 |
|
|
DEFERREX TAX ASSETS |
0.000 |
31.358 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8138.818
|
8335.472
|
3233.441
|
|
|
Sundry Debtors |
10764.762
|
8091.073
|
6344.046
|
|
|
Cash & Bank Balances |
241.347
|
279.962
|
253.304
|
|
|
Other Current Assets |
15.581
|
15.581
|
0.000
|
|
|
Loans & Advances |
3007.281
|
2300.694
|
2767.065
|
|
Total
Current Assets |
22167.789
|
19022.782 |
12597.856 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4784.838
|
2503.047 |
2115.680
|
|
|
Other Current Liabilities |
850.660
|
881.897 |
674.356
|
|
|
Provisions |
95.908
|
186.399 |
1772.391
|
|
Total
Current Liabilities |
5731.406
|
3571.343 |
4562.427 |
|
|
Net Current Assets |
16436.383
|
15451.439
|
8035.429
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
22388.926 |
19878.135 |
10372.390 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (Net) |
31767.058 |
25113.951 |
22398.338 |
|
|
|
Other Income |
367.389 |
332.408 |
42.677 |
|
|
|
TOTAL (A) |
32134.447 |
25446.359 |
22441.015 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods Consumed |
30808.180 |
20189.335 |
18386.109 |
|
|
|
Increase/ Decrease in Stock |
(4745.582) |
(884.221) |
0.000 |
|
|
|
Manufacturing Expenses |
2415.722 |
2088.415 |
1694.499 |
|
|
|
Personnel Expenses |
438.549 |
279.461 |
0.000 |
|
|
|
Administrative And Other Expenses |
862.101 |
1180.532 |
413.028 |
|
|
|
Employees Remuneration and benefits |
0.000 |
0.000 |
173.062 |
|
|
|
TOTAL (B) |
29778.970 |
22853.522 |
20666.698 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2355.477 |
2592.837 |
1774.317 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1081.121 |
732.743 |
737.165 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1274.356 |
1860.094 |
1037.152 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
215.973 |
122.421 |
55.478 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1058.383 |
1737.673 |
981.674 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
356.753 |
598.107 |
333.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
701.630 |
1139.566 |
648.143 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5389.163 |
4421.652 |
3843.706 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
56.978 |
0.000 |
|
|
|
Proposed Dividend |
65.574 |
98.361 |
60.000 |
|
|
|
Tax on Dividend |
10.638 |
16.716 |
10.197 |
|
|
BALANCE CARRIED
TO THE B/S |
6014.581 |
5389.163 |
4421.652 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export FOB Value |
739.894 |
524.879 |
769.683 |
|
|
|
Other Earnings |
18.132 |
15.286 |
14.425 |
|
|
TOTAL EARNINGS |
758.026 |
540.165 |
784.108 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5744.462 |
6234.531 |
1889.252 |
|
|
|
Stores & Spares |
201.539 |
440.450 |
123.861 |
|
|
|
Capital Goods |
21.793 |
7.606 |
3.547 |
|
|
TOTAL IMPORTS |
5967.794 |
6682.587 |
2016.660 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
10.70 |
17.76 |
10.80 |
|
|
|
Diluted |
10.27 |
16.54 |
10.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.18
|
4.48 |
2.89
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.33
|
6.92 |
4.38
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.12
|
7.92 |
7.12
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.20 |
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.34
|
1.24
|
0.87
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.87
|
5.33
|
2.76
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
4784.838
|
2503.047 |
2115.680
|
|
Total |
4784.838
|
2503.047 |
2115.680
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NATURE OF
OPERATION
Subject or the company is one of the
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
(Rs.
in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Central Excise Act, 1994 Under Dispute |
68.757 |
29.783 |
|
Bank Guarantee issued by bank on behalf of the company |
3137.425 |
2077.200 |
|
Bank Guarantee given on behalf of subsidiary company |
267.000 |
132.000 |
UNSECURED LOAN
Rs.
In Millions
|
|
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Debentures 2% 17000000 Compulsory Convertible Debentures of Rs. 100/- each
compulsorily convertible on June 29, 2012 |
1700.000 |
1700.000 |
|
Directors |
47.207 |
53.447 |
|
Relatives of Directors |
34.018 |
39.673 |
|
Short Term Loan from Banks (Due with in one year Rs. 500.000 millions (previous year of Rs.
650.000 millions) |
500.000 |
650.000 |
|
Total |
2281.225 |
2443.120 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31300MH1996PTC096105 |
|
Name of the
company |
POLYCAB WIRES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
HICO House, 1st Floor, 771, Pandit Satwalekar Marg, Mahim (West), Mumbai - 400016, Maharashtra, India Email Id : sagar.parab@polycab.com |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
10278452 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of Email : nitin.vsity@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum of
deposit for creation of charge term loan/overall limit. |
|
Date of instrument
Creating the charge |
12.03.2011 |
|
Amount secured by
the charge |
Rs. 12221.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per the sanctioned
letter no. AGM/891 dated 15.02.2010 and loan agreement. Terms of Repayment: Term Loan of Rs.
3600.000 millions Rs. In millions
Period No. of
Inst Amt of Inst Amt
per year Apr 2011-Mar
2012 12 72.000 864.000 Apr 2012-Mar
2013 12 84.000 1008.000 Apr 2013-Mar
2014 12 144.000 1728.000 3600.000 Margin: Bank Guarantee -
2.5%, Letter of Credit - 2.5%, Export Packing Credit - 10% of FOB Value of
the order LC, Raw Materials (Domestic and Imported) - 25%, SIP - 40%, FG -
33.33%, Book Debts / receivables (Retention period 90 days) - 30%. Extent and Operation of charge: Security to cover
principal amount together with interest, costs, charges and expenses etc. Others: DCC (Stocks and
Book Debts) - Rs. 250.000 millions, EPC - (Rs. 85.000 millions), EBN - (Rs.
150.000 millions), SLOC - (Rs. 50.000 millions), TL - Rs. 3600.000 millions, One
time LC - (Rs. 2500.000 millions), BG - Rs. 1500.000 millions, Off Balance
Sheet Exposure - Rs. 71.000 millions, LC (Inland/Foreign/Buyers Credit) - Rs.
45.000 millions All other terms
and conditions as per the sanctioned letter and loan agreement. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1. All that piece
and parcel of Non Agricultural land (Generally referred to as UNIT VI of
Subject Halol, Gujarat) bearing Revenue Survey No. 75 of 2, adm. Hectre
0-40-47, Registration, District Panchmahal, Sub District Kalol, Moje Village,
Baskani and bounded as follows. On towards East - Survey No 76, On towards
West - Survey No 112/2 and 94, on towards North - Survey No. 93/1 |
|
Particulars of
the present modification |
The Borrowers by
way of equitable mortgage by deposit of title deeds of Immovable properties
has provided additional property of security to secure the Facility Rs.
12221.000 millions. |
FIXED ASSETS:
· Freehold land
· Lease hold Land
· Buildings
· Plant and machinery
· Electrical installation
· Vehicles
· Furniture, Fixtures and office equipments
· Motor Car
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 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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.