|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
BONTON CABLES INDIA PRIVATE LIMITED (w.e.f. 19.06.2007) |
|
|
|
|
Formerly Known
As : |
SHRI SHIV CABLES AND ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
17A/49, WEA Karol Bagh, New Delhi – 110005 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.04.2005 |
|
|
|
|
Com. Reg. No.: |
55-135619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300DL2005PTC135619 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Suppliers and Exporters of Wires, Cable Strips, Electrical
Wires and Electrical Strips etc. |
|
|
|
|
No. of Employees
: |
120 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 78000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The latest financials [2012] are not available. As per previous year’s
record [2011], there appear huge external borrowings recorded by the company
which acts as a threat to the company’s liquidity. The net profit is also low. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 : |
Mr. K J Swamy |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-8130299009 |
|
Date : |
12.10.2013 |
LOCATIONS
|
Registered Office : |
17A/49, WEA Karol Bagh, New Delhi – 110005, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
marketing@bontoncablesindia.com |
|
Website : |
|
|
|
|
|
Head Office : |
Jagannath Duddadhar Complex, Opposite Maharaja Agarsain Hospital, New
Rohtak Road, Punjabi Bagh, New Delhi – 110026, India |
|
Tel. No.: |
91-11-25227664/65 |
|
Fax No.: |
91-11-25227664 |
|
|
|
|
Factory : |
A 114-115, RIICO Industrial Area, Phase-1, Bhiwadi – 301019,
Rajasthan, India |
|
Tel. No.: |
91-9214201201 |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Naveen Nandrajog |
|
Designation : |
Director |
|
Address : |
75/41 Punjabi Bagh (West), New Delhi – 110026, India |
|
Date of Appointment : |
29.04.2005 |
|
DIN No.: |
01163482 |
|
|
|
|
Name : |
Mrs. Rekha Nandrajog |
|
Designation : |
Director |
|
Address : |
75/41 Punjabi Bagh (West), New Delhi – 110026, India |
|
Date of Appointment : |
29.04.2005 |
|
DIN No.: |
01163483 |
|
|
|
|
Name : |
Mr. Rajat Nandrajog |
|
Designation : |
Director |
|
Address : |
75/41 Punjabi Bagh (West), New Delhi – 110026, India |
|
Date of Appointment : |
29.04.2005 |
|
DIN No.: |
01163486 |
MAJOR SHAREHOLDERS
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Naveen Nandrajog |
|
174998 |
|
Rekha Nandrajog |
|
150000 |
|
Rajat Nandrajog |
|
175000 |
|
Vijay Gulati |
|
1 |
|
Asha Gulati |
|
1 |
|
TOTAL |
|
500000 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Suppliers and Exporters of Wires, Cable Strips,
Electrical Wires and Electrical Strips etc. |
|
|
|
|
Products : |
· HRFR, HRFRLS and HFLS Cables for Domestic applications Flexible Cables · Fire Survival Cables · Telephone Cables · Instrumentation Cables · Battery Cables · Elastomeric Cables · Cables for special applications · LT XLPE Underground Cables · Mains cords · Silicon Cables · Automobile Cables · Co-Axial Cables |
|
|
|
|
Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
China ·
UK ·
Italy |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Customers : |
·
DLF Building India ·
Unitech ·
MGF ·
Jaypee Group ·
Bank of America ·
Barclays ·
Religare ·
IBM ·
Walmart ·
The Taj ·
ITC ·
Radisson ·
Holiday Inn ·
DMRC ·
DIAL ·
Aircel ·
HCL ·
NIIT ·
Idea |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
120 [Approximately] |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Bank of India, Bank Street, Karol Bagh, New Delhi
– 110005, India ·
HDFC Bank Limited, HDFC Bank House Senapati Bapat
Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jerath and Company Chartered Accountants |
|
Address : |
L-8, Rajouri, Garden, New Delhi – 110027, India |
|
Tel. No.: |
91-11-41444595 |
|
Mobile No.: |
91-9811080226 |
|
PAN No.: |
AACPJ3396E |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.633 |
8.971 |
4.634 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19.633 |
13.971 |
9.634 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
65.062 |
32.810 |
12.424 |
|
|
2] Unsecured Loans |
97.332 |
92.896 |
84.196 |
|
|
TOTAL BORROWING |
162.394 |
125.706 |
96.620 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
182.027 |
139.677 |
106.254 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
27.023 |
20.375 |
21.738 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.185 |
0.007 |
(0.012) |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
62.286
|
57.899 |
43.107 |
|
|
Sundry Debtors |
246.635
|
153.698 |
137.182 |
|
|
Cash & Bank Balances |
27.833 |
17.538 |
1.595 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
18.902 |
8.372 |
7.000 |
|
Total
Current Assets |
355.656
|
237.507 |
188.884 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
189.498 |
109.381 |
96.577 |
|
|
Other Current Liabilities |
11.525 |
9.842 |
7.814 |
|
|
Provisions |
0.609 |
0.061 |
0.000 |
|
Total
Current Liabilities |
201.632 |
119.284 |
104.391 |
|
|
Net Current Assets |
154.024 |
118.223 |
84.493 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.795 |
1.072 |
0.035 |
|
|
|
|
|
|
|
|
TOTAL |
182.027 |
139.677 |
106.254 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
810.936 |
599.003 |
491.043 |
|
|
|
Other Income |
0.027 |
1.881 |
0.419 |
|
|
|
TOTAL |
810.963 |
600.884 |
491.462 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
783.354 |
578.271 |
473.012 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
27.609 |
22.613 |
18.450 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
16.801 |
13.631 |
10.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.808 |
8.982 |
8.300 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
2.401 |
2.699 |
2.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
8.407 |
6.283 |
5.772 |
|
|
|
|
|
|
|
|
|
|
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.03
|
1.04 |
1.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.20
|
2.43 |
2.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.44 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
8.27
|
9.00 |
10.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76
|
1.99 |
1.81 |
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10205153 |
28/12/2011 * |
80,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA |
B29632577 |
|
* Date of charge modification |
||||||
UNSECURED
LOAN
|
Particulars |
As
on 31.03.2011 [Rs.
in Millions] |
As
on 31.03.2010 [Rs.
in Millions] |
|
Naveen Nandrajog |
3.260 |
2.323 |
|
Nidhi Nandrajog |
0.347 |
0.312 |
|
Rajat Nandrajog |
0.068 |
0.148 |
|
Rekha Nandrajog |
5.227 |
4.765 |
|
Asha Gulati |
4.715 |
4.359 |
|
Vijay Gulati |
83.715 |
80.989 |
|
TOTAL |
97.332 |
92.896 |
BUSINESS OPERATION:
The factory is a ‘state of art’ facility and
the directors and the workforce are committed to the high values and standards
set by the management. The company has been conferred the approvals and certifications
by various authorities thereby approving the high quality of products being
manufactured at the factory. The company faces fierce competition from existing
cable manufacturing companies. The dynamism and aggressive strategies of the
management, coupled with high quality certified products have helped the
company make in roads into the market in India. The company has performed well
during the year and has a name in the ‘cable industry’.
FIXED ASSETS:
·
Industrial Plot
·
Building
·
Furniture and Fixture
·
Plant and Machinery
·
Computer
·
Air Conditioners
·
CCTV System
·
Electronic Weighing Scale
·
Water Cooler
·
Fan
·
Car – Honda Accord
·
Lab Instrument
·
Printer
·
Refrigerator
·
Fire Fitting
·
Mobile Phone
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.61.30 |
|
|
1 |
Rs.97.79 |
|
Euro |
1 |
Rs.83.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.