MIRA
INFORM REPORT
|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
POLYCAB WIRES PRIVATE LIMITED (w.e.f. 15.06.2001) |
|
|
|
|
Formerly Known
As : |
POLYCAB WIRES LIMITED |
|
|
|
|
Registered
Office : |
HICO House, 1st Floor, 771, Pandit Satwalekar
Marg, Mahim (West), Mumbai - 400016, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
29.09.2012 |
|
|
|
|
Date of
Incorporation : |
10.01.1996 |
|
|
|
|
Com. Reg. No.: |
11-096105 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.655.880 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 (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 42000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a satisfactory track
record. Financial position seems to be good. Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
The default risk is currently low. The capacity for payment of
financial commitment is considered adequate |
|
Date |
February, 2013 |
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 DECLINED BY
|
Name : |
Mr. Chandra Shekhar |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-22-24327070 |
|
Date : |
12.07.2013 |
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 1 : |
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 : |
|
|
|
|
|
Factory 2 : |
55/1, 65/1, Rameshwar Road, Baska Halol, District Panchmahal - 389350,
Gujarat, India |
|
|
|
|
Factory 3 : |
Unit. 4, Plot No. 67/72, Village: Nurpura, Taluka Halol, District Panchmahal - 389350, Gujarat, India |
|
|
|
|
Branch Office : |
Located At ·
· Andhra Pradesh · Assam · Bihar · Chandigard · Chhattisgarh · Delhi · Gujarat · Himachal Pradesh · Jharkhand · Karnataka · Kerala · Madhya Pradesh · Maharashtra, · Odisha · Punjab · Rajasthan · Tamilnadu · Uttar Pradesh · West Beagle |
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 |
|
PAN No. : |
AAAPJ9287G |
|
DIN No.: |
00309108 |
|
|
|
|
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 |
|
PAN No. : |
AACPJ2100L |
|
DIN No.: |
00120246 |
|
|
|
|
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 |
|
PAN No. : |
AACPJ2099J |
|
DIN No.: |
00276588 |
|
|
|
|
Name : |
Mr. Ramesh Thakurdas Jaisinghani |
|
Designation : |
Whole Time Director |
|
Address : |
701/2, Salisbury Park, 82, Hill, Bandra (West), Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1956 |
|
Date of Appointment : |
10.01.1996 |
|
DIN No.: |
00309314 |
|
|
|
|
Name : |
Mr. Lemaire Claude Michel |
|
Designation : |
Director |
|
Address : |
64, Rue Dr, Bellecgasse – 75007, Paris |
|
Date of Birth/Age : |
21.12.1946 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
02879461 |
KEY EXECUTIVES
|
Name : |
Mr. Vilas Pandurang Unavane |
|
Designation : |
Company Secretary |
|
Date of Appointment : |
26.08.2008 |
|
PAN No.: |
AAAPU2413P |
|
|
|
|
Name : |
Mr. Chandra Shekhar |
|
Designation : |
Chief Executive Officer |
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 : |
(Rs.
In Millions)
|
|
|
|
|
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 |
|
|
|
|
Subsidiary Company
: |
· Jaisingh Wires Private Limited · Polycab Wires Industries Private Limited · Polycab Cables Industries Private Limited |
CAPITAL STRUCTURE
After 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 |
|
|
|
|
|
|
70602919 |
Equity Shares |
Rs.10/- each |
Rs.706.029
Millions |
|
|
|
|
|
As on 31.03.2012
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 |
|
|
|
|
|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Inder Jaisinghani |
14.99 |
22.87% |
|
Ramesh Jaisinghani |
11.99 |
18.30% |
|
Ajay jaisinghani |
12 |
18.30% |
|
Girdhari Jaisinghani |
11.99 |
18.30% |
|
IFC |
5.58 |
8.50% |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
655.880 |
655.740 |
|
(b) Reserves & Surplus |
|
9891.830 |
8831.030 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
10547.710 |
9486.770 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
2163.630 |
|
(b) Deferred tax liabilities (Net) |
|
190.440 |
95.390 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
8.510 |
7.900 |
|
Total Non-current Liabilities (3) |
|
198.950 |
2266.920 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
7656.350 |
9779.140 |
|
(b) Trade payables |
|
6431.060 |
4777.080 |
|
(c) Other current
liabilities |
|
3155.320 |
1722.410 |
|
(d) Short-term provisions |
|
87.590 |
88.000 |
|
Total Current Liabilities (4) |
|
17330.320 |
16366.630 |
|
|
|
|
|
|
TOTAL |
|
28076.980 |
28120.320 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4718.990 |
3490.740 |
|
(ii) Intangible Assets |
|
26.930 |
34.350 |
|
(iii) Capital
work-in-progress |
|
2201.520 |
1605.880 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
105.130 |
289.650 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1031.600 |
1578.730 |
|
(e) Other Non-current assets |
|
75.170 |
119.230 |
|
Total Non-Current Assets |
|
8159.340 |
7118.580 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
6599.710 |
8138.810 |
|
(c) Trade receivables |
|
11334.820 |
10764.770 |
|
(d) Cash and cash
equivalents |
|
214.050 |
120.170 |
|
(e) Short-term loans
and advances |
|
1725.330 |
1960.460 |
|
(f) Other current
assets |
|
43.730 |
17.530 |
|
Total Current Assets |
|
19917.640 |
21001.740 |
|
|
|
|
|
|
TOTAL |
|
28076.980 |
28120.320 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
655.738 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
8205.618 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
8861.356 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
8573.659 |
|
|
2] Unsecured Loans |
|
|
2443.120 |
|
|
TOTAL BORROWING |
|
|
11016.779 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
19878.135 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2891.307 |
|
|
Capital work-in-progress |
|
|
1289.384 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
214.646 |
|
|
DEFERREX TAX ASSETS |
|
|
31.358 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8335.472
|
|
|
Sundry Debtors |
|
|
8091.073
|
|
|
Cash & Bank Balances |
|
|
279.962
|
|
|
Other Current Assets |
|
|
15.581
|
|
|
Loans & Advances |
|
|
2300.694
|
|
Total
Current Assets |
|
|
19022.782 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2503.047 |
|
|
Other Current Liabilities |
|
|
881.897 |
|
|
Provisions |
|
|
186.399 |
|
Total
Current Liabilities |
|
|
3571.343 |
|
|
Net Current Assets |
|
|
15451.439
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
19878.135 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (Net) |
|
31767.058 |
25113.951 |
|
|
|
Other Income |
|
367.389 |
332.408 |
|
|
|
TOTAL (A) |
|
32134.447 |
25446.359 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods Consumed |
|
30808.180 |
20189.335 |
|
|
|
Increase/ Decrease in Stock |
|
(4745.582) |
(884.221) |
|
|
|
Manufacturing Expenses |
|
2415.722 |
2088.415 |
|
|
|
Personnel Expenses |
|
438.549 |
279.461 |
|
|
|
Administrative And Other Expenses |
|
862.101 |
1180.532 |
|
|
|
Employees Remuneration and benefits |
|
0.000 |
0.000 |
|
|
|
TOTAL (B) |
|
29778.970 |
22853.522 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
2355.477 |
2592.837 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1081.121 |
732.743 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
1274.356 |
1860.094 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
215.973 |
122.421 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1058.383 |
1737.673 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
356.753 |
598.107 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
|
701.630 |
1139.566 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
5389.163 |
4421.652 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
0.000 |
56.978 |
|
|
|
Proposed Dividend |
|
65.574 |
98.361 |
|
|
|
Tax on Dividend |
|
10.638 |
16.716 |
|
|
BALANCE CARRIED
TO THE B/S |
|
6014.581 |
5389.163 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export FOB Value |
NA |
739.894 |
524.879 |
|
|
|
Other Earnings |
NA |
18.132 |
15.286 |
|
|
TOTAL EARNINGS |
NA |
758.026 |
540.165 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
5744.462 |
6234.531 |
|
|
|
Stores & Spares |
NA |
201.539 |
440.450 |
|
|
|
Capital Goods |
NA |
21.793 |
7.606 |
|
|
TOTAL IMPORTS |
NA |
5967.794 |
6682.587 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
NA |
10.70 |
17.76 |
|
|
|
Diluted |
NA |
10.27 |
16.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
2.18
|
4.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.33
|
6.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
4.12
|
7.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.11
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.73
|
1.36
|
1.24
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.28
|
5.33
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Creditors due small micro enterprises |
6431.060 |
4777.080 |
2503.047 |
|
Total |
6431.060 |
4777.080 |
2503.047 |
|
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-term borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
500.000 |
|
Foreign currency term loans from others |
2841.600 |
116.060 |
|
Loans and advances from directors |
52.570 |
47.210 |
|
Loans and advances from others |
39.930 |
34.020 |
|
Total |
2934.100 |
697.290 |
FIXED ASSETS:
· Freehold land
· Lease hold Land
· Buildings
· Plant and machinery
· Electrical installation
· Vehicles
· Furniture, Fixtures
· 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 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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.