MIRA
INFORM REPORT
|
Report Date : |
22.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHILPI CABLE TECHNOLOGIES LIMITED |
|
|
|
|
Formerly Known
As : |
ROSENBERGER SHILPI CABLE TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
A-19/ B-1 Extension, Mohan Cooperative Industrial Estate,
P. O. Badarpur, Mathura Road, New Delhi - 110044 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.07.2006 |
|
|
|
|
Com. Reg. No.: |
55-150753 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 375.161 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L64201DL2006PLC150753 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR13149D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR3380E |
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturing and Trading of Cables, Wires and Accessories used in
Telecom, Automobile, Consumer Durables etc. |
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|
|
|
No. of Employees
: |
Not Available |
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 6500000 |
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|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a satisfactory track record. The company is progressing well. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits : BBB- |
|
Rating Explanation |
Moderate degree of safety and carry moderate
credit risk. |
|
Date |
July 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund based limits : A3 |
|
Rating Explanation |
Moderate degree of safety and carry higher
credit risk. |
|
Date |
July 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.
LOCATIONS
|
Registered/ Corporate Office : |
A-19/ B-1 Extension, Mohan Cooperative Industrial Estate,
P. O. Badarpur, Mathura Road, New Delhi – 110044, India |
|
Tel. No.: |
91-11-43117900 |
|
Fax No.: |
91-11-43117902 |
|
E-Mail : |
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|
Website : |
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|
|
|
Factory : |
Chopanki Factory
SP1037, Chopanky, RIICO Industrial Area, District Alwar– 301019, Rajasthan, India Bhiwadi Factory
E-138 RIICO Industrial Area, Phase -1, Bhiwadi, District –
Alwar - 301019, Rajasthan, India |
|
|
|
|
Dubai Offices : |
SHILPI WORLDWIDE JLT Unit No. 3O-01-385, Floor No. 1, Building No. 3, Plot No. 550-554, J and G Complex, Almas Towers, DMCC, Dubai, United Arab Emirates P.O. Box No. 113248 SHILPI WORLDWIDE JLT Suite No. 404, Century 21 Building, Abu Bakar Al Siddique
Road, Opposite Al Kabayal Discount Centre Muraqqabat, Deira, Dubai, United
Arab Emirates SHILPI GLOBAL LLC Suite No. 404, Century 21 Building, Abu Bakar Al Siddique
Road Opposite Al Kabayal Discount Centre Muraqqabat, Deira, Dubai, United
Arab Emirates P.O. Box No. 113248 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Mukesh Kumar Gupta |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Manish Goel |
|
Designation : |
CCO and Whole Time Director |
|
|
|
|
Name : |
Mr. Ghanshyam Pandey |
|
Designation : |
Director |
|
Address : |
227, Pocket-J,
Sarita Vihar, New Delhi – 110076, India |
|
Date of Birth/Age : |
12.02.1955 |
|
Qualification : |
B. Sc
(Mathematics) and Diploma in Management |
|
Experience : |
29 Years |
|
DIN No.: |
00163072 |
|
Companies in which
holds Directorship : |
· GGP Cabletronics Private Limited Glosters Metals and Alloys Private Limited |
|
|
|
|
Name : |
Mr. Sunil Kala |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sandeep Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Narendra Kumar Singh |
|
Designation : |
Nominee Director |
|
Address : |
J-074 Windsor Park
Vaibhav Khand, Indrapuram, Ghaziabad – 201010, Uttar Pradesh, India |
|
Date of Birth/Age : |
15.12.1973 |
|
Qualification : |
Post graduate in
Management and Mathematics |
|
Experience : |
15 Years |
|
DIN No.: |
06626320 |
KEY EXECUTIVES
|
Name : |
Mr. Manish Bhatt |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. Manoj Arora |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
36000 |
0.10 |
|
|
16750000 |
44.65 |
|
|
16786000 |
44.74 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
16786000 |
44.74 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
3806296 |
10.15 |
|
|
|
|
|
|
3162456 |
8.43 |
|
|
4857598 |
12.95 |
|
|
8903786 |
23.73 |
|
|
165583 |
0.44 |
|
|
29417 |
0.08 |
|
|
3491412 |
9.31 |
|
|
5217374 |
13.91 |
|
|
20730136 |
55.26 |
|
Total Public shareholding (B) |
20730136 |
55.26 |
|
Total (A)+(B) |
37516136 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
37516136 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 Million BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Cables, Wires and Accessories used in
Telecom, Automobile, Consumer Durables etc. |
GENERAL INFORMATION
|
Customers : |
· BSNL MTNL Airtel Vodafone Idea Aircel Datacom GTL Nokia Sony Ericson Citi Tata Videocon ZTE |
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No. of Employees : |
Not Available |
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Bankers : |
· IDBI Bank Punjab National Bank State Bank of India UCO Bank Oriental Bank of Commerce Bank of Baroda Union Bank of India Andhra Bank |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
RMA and Associates Chartered Accountants |
|
Address : |
48, Hasanpur, I. P. Extension, Delhi – 110092, India |
|
|
|
|
Subsidiary
Company : |
Shilpi Worldwide JLT |
|
|
|
|
Associates
Companies : |
· MVM Impex Private Limited Shilpi Cables Private Limited Gloster Metals and Alloys Private Limited Shilpi Communication Private Limited |
CAPITAL STRUCTURE
AFTER 29.09.2012
Authorised Capital : Rs. 500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 375.161 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42500000 |
Equity Shares |
Rs. 10/- each |
Rs. 425.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37516136 |
Equity Shares |
Rs. 10/- each |
Rs. 375.161
Millions |
|
|
|
|
|
|
(B)
Reconciliation of number of equity shares outstanding at the beginning and at
end of the year |
|
|
|
Particulars |
31.03.2013 |
31.03.2012 |
|
Number of shares outstanding as at beginning of the year |
32,298,762 |
24,200,000 |
|
Add: Number of shares allotted as fully paid-up-bonus shares during the
year |
-- |
-- |
|
Number of shares
allotted during the year as fully paid-up pursuant to a contract without
payment being received in cash |
5,217,374 |
-- |
|
Number of shares allotted to employees pursuant to ESOPs/ESPs |
-- |
-- |
|
Number of shares allotted for cash (80,98,762
Equity Shares of Rs.10 each fully paid have been allotted during the
financial year 2011-12 to the Public at premium of Rs. 59 per equity share.) |
-- |
8,098,762 |
|
|
37,516,136 |
32,298,762 |
|
Less: Number of shares bought back during the year |
-- |
-- |
|
Number of shares outstanding as at end of the year |
37,516,136 |
32,298,762 |
|
65,00,000 equity
shares held by promoters of the company are locked in up to 15.04.2014 13,04,344 equity
shares held by Trustee of SCTL Securities Trust are locked in up to
31.07.2015 (C)
Shareholdings in the company by the holding/ultimate holding company and
their subsidiaries/associates |
|
|
|
Out of equity
shares issued by the company, share held by holding company are as follows: |
31.03.2013 |
31.03.2012 |
|
Shilpi Communication Private Limited |
44.65% |
74.77% |
|
(D) Shares in the company held by each shareholder holding more than
5% shares |
|
|
|
Name of the shareholder |
Number of shares held in the company |
Percentage of shares held |
|
Shilpi Communication Private Limited |
16,750,000 |
44.65% |
|
Trustee of SCTL Securities Trust (Anand Gupta) |
5,217,374 |
13.91% |
(E) Terms / rights attached to equity shares
The company has
only one class of equity shares having a par value of Rs. 10 per share.
Each holder of equity shares is entitled to one vote per share.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
375.161 |
322.988 |
242.000 |
|
(b) Reserves & Surplus |
1253.408 |
996.755 |
306.769 |
|
(c) Shares to be issued pursuant to
Scheme of Amalgamation |
0.000 |
52.174 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
1489.600 |
|
Total
Shareholders’ Funds (1) + (2) |
1628.569 |
1371.917 |
2038.369 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1166.933 |
903.242 |
799.600 |
|
(b) Deferred tax liabilities (Net) |
106.457 |
79.031 |
43.371 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1273.390 |
982.273 |
842.971 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
75.227 |
144.180 |
129.044 |
|
(b)
Trade payables |
1823.241 |
1276.059 |
570.721 |
|
(c)
Other current liabilities |
34.346 |
34.630 |
12.100 |
|
(d) Short-term
provisions |
88.802 |
60.324 |
41.496 |
|
Total Current
Liabilities (4) |
2021.616 |
1515.193 |
753.361 |
|
|
|
|
|
|
TOTAL |
4923.575 |
3869.383 |
3634.701 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
818.711 |
637.182 |
647.064 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.437 |
173.616 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
137.474 |
137.474 |
37.920 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
60.497 |
19.411 |
5.631 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
7.627 |
|
Total Non-Current
Assets |
1017.119 |
967.683 |
698.242 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
932.945 |
583.322 |
327.187 |
|
(c)
Trade receivables |
2576.056 |
1979.081 |
875.128 |
|
(d) Cash
and cash equivalents |
260.690 |
172.776 |
1558.161 |
|
(e) Short-term
loans and advances |
0.617 |
0.500 |
0.555 |
|
(f)
Other current assets |
136.148 |
166.021 |
175.428 |
|
Total
Current Assets |
3906.456 |
2901.700 |
2936.459 |
|
|
|
|
|
|
TOTAL |
4923.575 |
3869.383 |
3634.701 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
6548.886 |
4605.489 |
2305.385 |
|
|
|
Other Income |
17.394 |
26.597 |
14.710 |
|
|
|
TOTAL (A) |
6566.280 |
4632.086 |
2320.095 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials/
Services consumed |
5756.862 |
4052.804 |
1854.770 |
|
|
|
Changes in inventories
of finished goods, wip and stock-in-trade |
(185.719) |
(166.009) |
(17.233) |
|
|
|
Other Manufacturing/
Operating Expenses |
122.896 |
76.900 |
57.876 |
|
|
|
Employee benefits expense |
45.846 |
39.659 |
22.594 |
|
|
|
Other expenses |
92.357 |
76.251 |
31.177 |
|
|
|
TOTAL (B) |
5832.242 |
4079.605 |
1949.184 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
734.038 |
552.481 |
370.911 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
323.538 |
241.553 |
139.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
410.500 |
310.928 |
231.229 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.433 |
33.230 |
31.526 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
374.067 |
277.698 |
199.703 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
112.168 |
91.457 |
66.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
261.899 |
186.241 |
133.558 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales (Export) |
55.992 |
0.000 |
0.000 |
|
|
|
Others |
0.020 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
56.012 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
171.451 |
0.000 |
0.000 |
|
|
|
Raw Materials and Spare Parts |
2869.771 |
2418.623 |
1497.046 |
|
|
TOTAL IMPORTS |
3041.222 |
2418.623 |
1497.046 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.98 |
5.77 |
5.50 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2013 |
30.09.2013 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
1829.400 |
2060.800 |
|
Total Expenditure |
|
1642.800 |
1825.600 |
|
PBIDT (Excl OI) |
|
186.600 |
235.200 |
|
Other Income |
|
5.100 |
7.200 |
|
Operating Profit |
|
191.700 |
242.400 |
|
Interest |
|
70.300 |
129.100 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
121.300 |
113.300 |
|
Depreciation |
|
10.800 |
11.700 |
|
Profit Before Tax |
|
110.500 |
101.700 |
|
Tax |
|
35.900 |
34.200 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
74.700 |
67.500 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
74.700 |
67.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.00
|
6.00 |
5.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.71
|
6.03 |
8.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.82
|
7.80 |
5.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.20 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.76
|
0.76 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.93
|
1.92 |
3.90 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10459761 |
09/11/2013 |
250,000,000.00 |
AXIS BANK
LIMITED |
STATESMAN HOUSE,
148, BARAKHAMBHA ROAD, CANNAUGHT PLACE, NEW DELHI - 110001, INDIA |
B89290787 |
|
2 |
10450154 |
18/09/2013 |
300,000,000.00 |
CANARA BANK |
74-JANPATH, NEW
DELHI - 110001, INDIA |
B85422103 |
|
3 |
10435790 |
09/07/2013 |
300,000,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING, 3RD FLOOR, 1, RED CROSS ROAD, NEW DELHI - 110001, INDIA |
B79177846 |
|
4 |
10441211 |
26/06/2013 |
65,000,000.00 |
SIEMENS
FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG
BUDHKAR MARG, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B81271322 |
|
5 |
10399792 |
17/01/2013 |
550,000,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING, 3RD FLOOR, 1, RED CROSS ROAD, NEW DELHI - 110001, INDIA |
B66707241 |
|
6 |
10371863 |
18/08/2012 |
410,000,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL
FINANCIAL BRANCH, M-11, CONNAUGHT CIRCUS, NEW DELHI - 110001, INDIA |
B56135205 |
|
7 |
10371579 |
25/09/2013 * |
408,800,000.00 |
BANK OF BARODA |
MID CORPORATE BRANCH,
3RD FLOOR, BANK OF BARODA BUILDING, 16, SANSAD MARG, NEW DELHI - 110001,
INDIA |
B85497642 |
|
8 |
10363624 |
06/08/2012 * |
200,000,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING, 3RD FLOOR, 1, RED CROSS ROAD, NEW DELHI - 110001, INDIA |
B45050796 |
|
9 |
10335028 |
30/03/2012 * |
300,000,000.00 |
ORIENTAL BANK OF
COMMERCE |
A-2/40,
SAFDERJUNG ENCLAVE, NEW DELHI - 110029, INDIA |
B38804894 |
|
10 |
10335037 |
30/03/2012 * |
300,000,000.00 |
ORIENTAL BANK OF
COMMERCE |
A-2/40,
SAFDERJUNG ENCLAVE, NEW DELHI - 110029, INDIA |
B38878146 |
|
11 |
10322697 |
14/12/2011 |
120,000,000.00 |
UCO BANK |
H-46, CONNAUGHT
PLACE, NEW DELHI - 110001, INDIA |
B27691450 |
|
12 |
10310011 |
10/10/2011 |
169,750,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI - 110001, INDIA |
B22469456 |
|
13 |
10304780 |
11/09/2012 * |
3,500,000,000.00 |
IDBI BANK LTD AS
LEAD BANK OF IDBI CONSORTIUM ON B |
INDIAN RED CROSS
SOCIETY BUILDING,3RD FLOOR, 1, RED CROSS ROAD, NEW DELHI - 110001, INDIA |
B58063439 |
|
14 |
10284446 |
19/04/2011 |
40,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, STC BUILDING, 14TH FLOOR, NEW
DELHI - 110001, INDIA |
B12162160 |
|
15 |
10286676 |
19/04/2011 |
40,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, STC BUILDING, 14TH
FLOOR, NEW DELHI - 110001, INDIA |
B12160909 |
|
16 |
10243219 |
29/03/2012 * |
1,047,500,000.00 |
PUNJAB NATIONAL
BANK |
SME PATPARGANJ BRANCH,
372, PATPARGANJ INDUSTRIAL AREA, NEW DELHI - 110092, INDIA |
B37364155 |
|
17 |
10243223 |
29/03/2012 * |
1,047,500,000.00 |
PUNJAB NATIONAL
BANK |
SME PATPARGANJ
BRANCH, 372, PATPARGANJ INDUSTRIAL AREA, NEW DELHI - 110092, INDIA |
B37359296 |
|
18 |
10224712 |
10/06/2010 |
100,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER WTC
COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A87656047 |
|
19 |
10173306 |
19/05/2010 * |
410,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, 14TH FLOOR, NEW DELHI -
110001, INDIA |
A87280368 |
|
20 |
10170858 |
30/12/2010 * |
400,000,000.00 |
PUNJAB NATIONAL
BANK |
PATPARGANJ
INDUSTRIAL AREA, NEW DELHI - 110092, INDIA |
B06305817 |
|
21 |
10170861 |
30/12/2010 * |
75,000,000.00 |
PUNJAB NATIONAL
BANK |
PATPARGANJ
INDUSTRIAL AREA, NEW DELHI - 110092, INDIA |
B06301436 |
|
22 |
10170862 |
30/12/2010 * |
325,000,000.00 |
PUNJAB NATIONAL
BANK |
PATPARGANJ
INDUSTRIAL AREA, NEW DELHI - 110092, INDIA |
B06302202 |
|
23 |
10170863 |
30/12/2010 * |
400,000,000.00 |
PUNJAB NATIONAL
BANK |
PATPARGANJ
INDUSTRIAL AREA, NEW DELHI - 110092, INDIA |
B06302681 |
|
24 |
10118438 |
08/08/2009 * |
805,250,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI - 110001, INDIA |
A68799766 |
|
25 |
10118426 |
31/07/2008 |
390,000,000.00 |
IDBI BANK
LIMITED |
11TH FLOOR,
SURYA KIRAN BUILDING,, K G MARG, NEW DELHI - 110001, INDIA |
A44070928 |
|
26 |
10118425 |
11/01/2011 * |
530,250,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI - 110001, INDIA |
B03936754 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other Loans from Bank / FIs |
1.541 |
6.228 |
|
(B) LOANS FROM OTHERS |
|
|
|
Loans from Corporates |
116.363 |
89.173 |
|
(C) LOANS AND ADVANCES FROM RELATED PARTIES |
|
|
|
Loans from Related Parties |
132.270 |
76.272 |
|
SHORT TERM BORROWINGS |
|
|
|
Other Loans from Bank / FIs |
4.340 |
12.247 |
|
|
|
|
|
Total |
254.514 |
183.920 |
CORPORATE INFORMATION
“Shilpi Cable Technologies Limited being a company incorporated under
the provisions of the Companies Act, 1956, and having its registered office at
A-19/B-1 Extension, Mohan Co-operative Industrial Estate, Mathura Road, New
Delhi-110044. The Company was initially incorporated under the provisions of
the Companies Act, 1956, as a public limited company with the name and style of
Rosenberger Shilpi Cable Technologies Limited vide Certificate of Incorporation
No. (CIN) U 64201 DL 2006 PLC 150753 dated 9th July, 2006 issued by the
Registrar of Companies, NCT of Delhi and Haryana, New Delhi. The Company
obtained Certificate for Commencement of Business on 13th July, 2006. Name of
the Company was changed to its present name-‘Shilpi Cable Technologies Limtied’
vide fresh Certificate of Incorporation dated 21st October, 2008 issued by the
ROC, New Delhi.“
The company is carrying on the business of manufacturing and trading of
Cables, wires and Accessories used in Telecom, Automobile, Consumer Durables
etc.
SCHEME OF
AMALGAMATION
I.
During the previous financial year a Scheme
of Amalgamation was framed under the provisions of sections 391 and 394 of the
Companies Act, 1956, and other applicable provisions, if any, for amalgamation
of Shilpi Cabletronics Limited with Shilpi Cable Technologies Limited.
II. During the
financial year above said Scheme of Amalgamation was approved by the Hon’ble
High Court of Delhi vide its order dated 14th May, 2012. The Appointed Date of
the Scheme was 1st April, 2011. The Scheme became effective on 1st June, 2012,
being the date of filing of the Court Orders with the ROC. Since the Scheme was
operative from the Appointed Date, 1st April, 2011, it has already been given
effect to in the previous audited accounts.
III. In terms of
the Scheme, Equity Shares of the Transferor Company which are beneficially held
by the Transferee Company shall not get cancelled but shall stand transferred
to and vested in the Trust to be settled by the Transferee Company. The
Transferee Company issued 9 (nine) Equity Shares of Rs. 10 each, credited as
fully paid up, for every 4 (four) Equity Shares of Rs. 10 each held in the
Transferor Company to the Trustee of the Trust who shall hold such shares for
the sole benefit of the Transferee Company. Accordingly, the Transferee Company
has issued 52,17,374 Equity Shares of Rs.10/- each to the aforesaid Trustee of
the Trust, in exchange of 100% share capital of the Transferor Company during
the financial year.
YEAR IN RETROSPECT
During the year, total income of the Company was Rs. 6566.280 Millions
as against Rs. 4632.086 Millions in the previous year. The Company was able to
earn a profit after tax of Rs. 261.899 Millions for the year as against a
profit of Rs. 186.241 Millions in previous year. The Directors are putting in
their best efforts to improve the performance of the Company.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
BUSINESS OVERVIEW
The company is engaged in the business of the manufacturing Cables for
various applications used in the Telecom Sector, Automobiles and Consumer
durables sectors and the also trades in cable accessories including various
types of cables and their accessories widely used in automotive, telecom
infrastructure, instrumentation etc. and also deals in manufacturing various
copper conductors.
Shilpi is one of the leading manufacturers of RF cables in the country
and they are actively promoting aluminum-based RF coaxial cables. Besides it is
cost-efficient compared to copper cables while at the same time, the technical
parameters are comparable to any other copper cable.
The company has started a new vertical for the manufacturing of cable
accessories and wiring harness used in consumer durable and white good industry
etc. which provides customized wire harness solutions to its end customers.
Equipped with design capabilities and state-of-the–art manufacturing equipment;
it can produce every month wire harnesses involving about 20 millions of
crimped connections-each one produced to highest of quality standards.
Their mission is to provide high-quality, cost-effective and customized
products to their customers through combining technological innovation and
value engineering in order to support existing clients as well as enter and
dominate new sectors. Despite the worldwide economic challenges, the Company
remained steadfast in delivering excellent performance during last financial
year. The Board hopes that with the support from the Telecom & Automotive
market, the Company will accelerate the process to forge ahead towards the goal
of being a top-class company in this sector.
INDUSTRY
STRUCTURE, DEVELOPMENTS AND OUTLOOK
Shilpi is largely focused on these sectors for demand of its products,
the future prospects of the respective sectors are as follows:
RF CABLE MARKET
With 2G/3G/4G technologies co-existing, the Indian telecom market is
uniquely positioned. The increasing subscriber base and broadband growth have
led to telecom operators rolling out close to 50K BTS sites in 2012. It is
expected that similar rollout would happen this year also.
Due to a literal explosion in data traffic spurred by smart phones and
cellular-based devices that demand high throughput and mobility, broadband
wireless networks are fast approaching a stage of complete saturation. In many
organizations, smart phones and cellular-based devices are becoming the primary
communications device. In addition, the increasing popularity of social
networks and applications are driving up mobile data usage.
As a consequence, subscribers expect more services, data, capacity and
speedier networks – whether they’re outside or inside. With as much as 85
percent of data and 70 percent of voice traffic generated In Building,
delivering excellent services indoors is central to ensure a great end-user
experience and to generate incremental revenue.
As a result, addressing the coverage, quality and capacity requirements
of In Building users is mandatory. Thus IBS is going to be critical in the
coming months especially with the launch of LTE/4G services. IBS providers
mainly use ˝” and 7/8” RF cable along with related accessories. Thus there will
be a large requirement for these this type of cable in the coming months.
The Indian cable and accessories industry operates in a highly dynamic
and competitive environment. There is considerable growth potential in the
industry led by the changing consumption pattern.
AUTOMOTIVE SEGMENT
The automotive industry in India is one of the largest in the world and
one of the fastest growing globally. India’s passenger car and commercial
vehicle manufacturing industry is the sixth largest in the world. According to
recent reports, India is set to overtake Brazil to become the sixth largest
passenger vehicle producer in the world.
Total Market strength of Automotive Segment is worth of 1200 Crores /
Annum and the segment is ruled by few of the major players and Shilpi is one of
them.
This segment is having huge potential in terms of volume. According to
the Society of Indian Automobile Manufacturers, annual vehicle sales are
projected to increase to 5 million by 2015 and more than 9 million by 2020.
BUNCHED COPPER
WIRE
The total requirements of bare copper wire/bunched copper wire is around
6 lakh M.T. per annum. Out of which, the organized sector requirement is around
3.5 Lakh M.T. and the unorganized sector accounts for around 2.5 Lakh M.T.
There is huge potential to sell Bare Copper Wire/Bunched Copper Wire
considering the average growth rate of all end user industries that use bare
Copper Wire/Bunched Copper Wire.
WHITE GOODS
INDUSTRY
The white goods industry plays a key role in Electrical appliances such
as Washing machines, refrigerators, Microwave ovens, Ironing machines and even
air conditioners are considered as white goods.
At present, by going through the above segments, they find a business
potential of around Rs. 8000.000~10000.000 Millions for wire and cable industry
in India.
With the increasing income and drastically changing lifestyle in India, makes
this white Good industry as the fastest growing segments. An FDI investments of
Rs. 100000.000 Millions from IKEA in this segments will make this industry
robust.
White Goods, no longer a luxury appliance, is gaining ground as a
utilitarian product for the rapidly growing middle class and increasing younger
population, who routinely holidays overseas, spends on aspirational goods, and
experiments with western food habits. With such evolving lifestyles, consumers
are warming up to the idea of purchasing White Goods with advanced features.
The industry is becoming one of the fastest growing segments and with
required support of the govt policies such as FDI in retail etc.
STATEMENT
OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2013
(Rs. in Millions)
PART
- I
|
|
Quarter ended |
Half year ended |
|
|
Particulars |
Sept 2013 |
June 2013 |
Sept 2013 |
|
|
Unaudited |
||
|
Net Sales / Income from Operations (Net of Excise Duty) |
2060.755 |
1829.362 |
3890.117 |
|
Expenditure |
|
|
|
|
(Increase) / Decrease in Stocks Consumption/Purchase of Raw Materials and Goods Manufacturing Expenses Employees benefits expense Depreciation and amortisation expense Other Expenses Total |
(46.582) 1763.275 42.866 14.377 11.646 51.613 1837.195 |
(11.725) 1581.725 37.963 11.253 10.817 23.580 1653.613 |
(58.307) 3345.000 80.829 25.630 22.463 75.193 3490.808 |
|
Profit from Operations before Other Income, Interest and Exceptional Items (1-2) |
223.560 |
175.749 |
399.309 |
|
Other Income |
7.206 |
5.082 |
12.288 |
|
Profit before Financial Costs and Exceptional Items (3+4) |
230.766 |
180.831 |
411.597 |
|
Financial Cost |
129.104 |
70.316 |
199.420 |
|
Profit after Financail Costs but before Exceptional Items (5-6) |
101.662 |
110.515 |
212.177 |
|
Exceptional items |
- |
- |
- |
|
Profit (+) / Loss (-) from Ordinary Activities before tax (7+8) |
101.662 |
110.515 |
212.177 |
|
Tax Expenses |
34.162 |
35.857 |
70.018 |
|
Net Profit (+) / Loss (-) from Ordinary Activities after Tax (9-10) |
67.500 |
74.658 |
142.159 |
|
Extraordinary Item / Prior Period Adjustments |
- |
- |
- |
|
Net Profit (+) / Loss (-) for the period (11-12) |
67.500 |
74.658 |
142.159 |
|
Share of profit / (loss) of associates |
- |
- |
- |
|
Minority Interest |
- |
- |
- |
|
Net Profit Attributable to consolidated group |
67.500 |
74.658 |
142.159 |
|
Paid-up equity share capital (Face Value of Rs. 10/- each) |
375.161 |
375.161 |
375.161 |
|
Reserves (excluding Revaluation Reserves) * |
1395.567 |
1328.066 |
1395.567 |
|
Earnings Per Share (EPS) Basic and Diluted EPS before Extraordinary items for the period, for
the year to date and for the previous year (not to be annualized) Basic and diluted EPS after Extraordinary items for the period, for
the year to date and for the previous year (not to be annualized) |
1.80 1.80 |
1.99 1.99 |
3.79 3.79 |
|
|
|
|
|
|
Public Shareholding - No. of shares # |
20730136 |
20730136 |
20,730,136 |
|
Promoters and promoter group - Percentage of shareholding |
55.26% |
55.26% |
55.26% |
|
Shareholding |
|
|
|
|
Pledged / Encumbered - Number of shares |
10200000 |
10200000 |
10200000 |
|
- Percentage of shares (as a % of the total shareholding of promoter
and promoter |
60.76% |
60.76% |
60.76% |
|
- Percentage of shares (as a % of the total share capital of the
Company) |
27.19% |
27.19% |
27.19% |
|
Non - encumbered - Number of Shares |
6586000 |
6586000 |
6586000 |
|
- Percentage of shares (as a % of the total shareholding of promoter
and promoter |
39.24% |
39.24% |
39.24% |
|
- Percentage of shares (as a % of the total share capital of the
company) |
17.56% |
17.56% |
17.56% |
Notes to the Financial Results:
1.
The above unaudited consolidated financial results
of the company for the quarter ended on 30th September 2013 have been approved by
the Board of Directors at its meeting held on 8th November'2013 after being
approved and recommended by the Audit Committee of the Board.
2.
The statutory Auditors of the company have carried
out the Limited Review of the above financial results of the company for the
quarter ended 30th September 2013 in accordance with the clause 41 of the
Listing Agreement.
3.
As the Company’s business activity falls within a
single business segment, there are no additional disclosures to be provided
under Accounting Standard 17 ‘Segment Reporting’.
4.
The Consolidated financial results have been
prepared in accordance with Accounting Standard 21 on “Consolidated Financial
Statement”. Financial results of Shilpi Worldwide JLT, subsidiary of the
company has been consolidated.
5.
Details of number of investor complaints for the
quarter ended September 30, 2013:
Opening - Nil, Received -
Nil, Resolved - Nil, Pending – Nil
6.
Standalone Financial Results:
(Rs. in Millions)
|
Particulars |
Quarter ended |
Half year ended |
|
|
|
Sept 2013 |
June 2013 |
Sept 2013 |
|
|
Unaudited |
||
|
Net Sales / Income from Operations |
20607.55 |
18,293.62 |
38,901.17 |
|
Profit (+) / Loss (-) from Ordinary Activities before tax |
1016.62 |
1,105.15 |
2,121.77 |
|
Net Profit (+) / Loss (-) from Ordinary Activities after Tax |
675.00 |
746.58 |
1,421.59 |
7.
The previous year/period figures have been
regrouped/reclassified wherever necessary to make them comparable.
8.
The above financial results will be available on the
company website and stock exchange’s websites.
9.
Statement of Assets and Liabilities:-
(Rs. in Millions)
|
Particulars |
Sept 2013 [Unaudited] |
|
|
A. EQUITY AND LIABILITIES |
|
|
|
1.
Shareholders Funds |
|
|
|
a] Share Capital |
375.161 |
|
|
b] Reserves and Surplus |
1395.567 |
|
|
Sub-total –
Shareholders’ funds |
1770.728 |
|
|
|
|
|
|
2. Non-current
Liabilities |
|
|
|
a] Long term Liabilities |
321.563 |
|
|
b] Deferred Tax Liabilities |
106.457 |
|
|
c] Other Long term Liabilities |
0.000 |
|
|
d] Long term provisions |
0.000 |
|
|
Sub-total -
Non-current Liabilities |
428.020 |
|
|
|
|
|
|
3. Current Liabilities |
|
|
|
a] Short term Liabilities |
1149.416 |
|
|
b] Trade Payables |
1985.623 |
|
|
c] Other Short term Liabilities |
30.544 |
|
|
d] Short Term Provision |
88.721 |
|
|
Sub-total - Current Liabilities |
3254.304 |
|
|
|
|
|
|
TOTAL - EQUITY
AND LIABILITIES |
5453.052 |
|
|
|
|
|
|
B ASSETS |
|
|
|
1. Non-current assets |
|
|
|
a] Fixed assets |
|
|
|
(i) Tangible Assets |
885.446 |
|
|
(ii) Intangible Assets |
0.000 |
|
|
(iii) Capital Work in
Progress |
0.437 |
|
|
b] Non-current
investment |
137.474 |
|
|
c] Deferred
Tax Assets (Net) |
0.000 |
|
|
d] ] long Term loans and Advances |
66.593 |
|
|
e] Other non-current assets |
0.000 |
|
|
Sub-total – Non- current assets |
1089.950 |
|
|
|
|
|
|
2.
CURRENT ASSETS |
|
|
|
|
Current Investments |
0.000
|
|
|
Inventories |
954.766
|
|
|
Trade Receivables |
2818.480
|
|
|
Cash & Bank Balances |
336.896
|
|
|
Short Term loans and advances |
5.769
|
|
|
Other Current Assets |
247.191
|
|
Sub-total – Current Assets |
4363.102
|
|
|
|
|
|
|
TOTAL - ASSETS |
5453.052 |
|
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
(a) Claims against the company not acknowledged as debts |
110.142 |
0.000 |
|
(b) Guarantees |
|
|
|
-Bank Guarantees (For EPCG and Performance) |
12.762 |
14.784 |
|
- Corporate Guarantee (For WC loans to Subsidiary) |
550.000 |
0.000 |
|
|
|
|
|
Total |
672.904 |
14.784 |
FIXED ASSETS:
· Land
Factory
Building
Plant
and Machinery
Furnitures
and Fixtures
Computers
and Softwares
Vehicles
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. 62.89 |
|
|
1 |
Rs. 101.14 |
|
Euro |
1 |
Rs. 84.42 |
INFORMATION DETAILS
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.