|
Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
R R KABEL LIMITED |
|
|
|
|
Registered
Office : |
Ram Ratna House, Victoria Mill Compound Pandurang, Budhkar Marg,
Worli, Mumbai-400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-085294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.204.460
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28997MH1995PLC085294 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR08449A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR3352C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Building Wires, Industrial Cables, Winding Wires etc. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Profitability of the company seems to be fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade term and condition. |
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’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
27.11.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3+ |
|
Rating Explanation |
Moderate degree at safety and high credit risk. |
|
Date |
27.11.2013 |
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 PARTED BY
|
Name : |
Mr. Rajesh Jain |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-9377855100 |
|
Date : |
14.01.2014 |
LOCATIONS
|
Registered Office : |
Ram Ratna House, Victoria Mill Compound Pandurang, Budhkar Marg,
Worli, Mumbai-400013, Maharashtra, India
|
|
Tel. No.: |
91-22-24949009/24924144 |
|
Fax No.: |
91-22-24910819/24912586 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
10,000 Sq ft |
|
Location: |
Owned |
|
|
|
|
Factory 1 : |
Survey No. 142/2, Madhuban Dham Road, Silvassa – 396240, Dadra and
Nagar Haveli, India |
|
Tel. No.: |
91-260-2641332 |
|
Area: |
65,000 Sqm |
|
Location: |
Owned |
|
|
|
|
Factory 2 : |
Located At: Waghodia, Vadodara, Gujarat, India
|
|
|
|
|
Branch Office : |
Located At: ·
Mumbai ·
Kerala ·
Coimbatore ·
Pune ·
Vadodara ·
Chennai ·
Secunderabad ·
Jaipur ·
Madurai ·
Bangalore ·
Silvassa ·
Ahmedabad ·
Kolkata ·
New Delhi ·
Lucknow ·
Bhubaneshwar |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Tribhuvanprasad Rameshwarlal Kabra |
|
Designation : |
Managing Director |
|
Address : |
Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and
Sanskrit Building Behind, Akota Stadium, Baroda-390020, Gujarat, India |
|
Date of Birth/Age : |
11.06.1955 |
|
Date of Appointment : |
02.09.1997 |
|
Din No.: |
00091375 |
|
PAN No.: |
AADPK2978A |
|
|
|
|
Name : |
Mr. Satyanarayan Mohanlal Loya |
|
Designation : |
Director |
|
Address : |
1502, Krishna Heritage, New Link Road, Opposite Don Bosco School,
Borivali (West), Mumbai-400091, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1930 |
|
Qualification: |
Professional |
|
Date of Appointment : |
30.09.1997 |
|
Din No.: |
00091323 |
|
|
|
|
Name : |
Mr. Mahendrakumar Rameshwarlal Kabra |
|
Designation : |
Whole Time Director |
|
Address : |
Casa Grande, Tower No. 2, 20th Floor, Flat No. 2008, 249,
Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1957 |
|
Date of Appointment : |
06.02.1995 |
|
Din No.: |
00473310 |
|
|
|
|
Name : |
Mrs. Kirtidevi Shreegopal Kabra |
|
Designation : |
Director |
|
Address : |
Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and Sanskrit
Building Behind, Akota Stadium, Baroda-390020, Gujarat, India |
|
Date of Birth/Age : |
23.02.1962 |
|
Date of Appointment : |
06.02.1995 |
|
Din No.: |
00150796 |
|
|
|
|
Name : |
Mr. Ashok Satyanarayan Loya |
|
Designation : |
Director |
|
Address : |
1502, Krishna Heritage, New Link Road, Opposite Don Bosco School,
Borivali (West), Mumbai-400091, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1965 |
|
Qualification: |
Professional |
|
Date of Appointment : |
08.09.1999 |
|
Din No.: |
00136619 |
|
|
|
|
Name : |
Mr. Mahesh Tribhuvanprasad Kabra |
|
Designation : |
Whole Time Director |
|
Address : |
Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and
Sanskrit Building Behind, Akota Stadium, Baroda-390020, Gujarat, India |
|
Date of Birth/Age : |
23.03.1977 |
|
Date of Appointment : |
11.03.2000 |
|
Din No.: |
00137796 |
|
|
|
|
Name : |
Mr. Sumeet Mahendrakumar Kabra |
|
Designation : |
Director |
|
Address : |
B-1908, Casa Grande, Senapati Bapat Marg, Lower Parel, Mumbai-400013,
Maharashtra, India |
|
Date of Birth/Age : |
10.08.1982 |
|
Qualification: |
MBA |
|
Date of Appointment : |
12.11.2010 |
|
Din No.: |
01751282 |
|
PAN No.: |
AGFPK1908C |
|
|
|
|
Name : |
Mr. Sanjay Narnarayan Taparia |
|
Designation : |
Director |
|
Address : |
152, Yugdharma, Opposite Inorbit Link Road, Goregaon (West),
Mumbai-400104, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1963 |
|
Date of Appointment : |
12.11.2010 |
|
Din No.: |
01812564 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Jain |
|
Designation : |
Finance Controller |
|
|
|
|
Name : |
Mr. Himanshu Navinchandra Parmar |
|
Designation : |
Secretary |
|
Address : |
G/39, Shreenath
Park Society, Behind Mahesh Complex, Waghodia, Debhoi, Ring, Road Near
Himalaya Flats, Vadodara ‐ 390 019,
Gujarat, India |
|
Date of Birth/Age : |
19.04.1986 |
|
Date of Appointment : |
12.11.2010 |
|
PAN No.: |
AUTPP3120F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
9.29 |
|
Directors or relatives of Directors |
90.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Building Wires, Industrial Cables, Winding Wires etc. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Industrial Cables |
||||
|
Countries : |
·
UK ·
UAE |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
·
Raw Material ·
Machinery |
||||
|
Countries : |
·
Australia ·
Dubai ·
Korea |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C and Credit, TT Bank Transfer |
||||
|
|
|
||||
|
Purchasing : |
L/C and Credit, TT Bank Transfer |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Finished goods various types of cables (Unit in Core Kilometer) |
758000 |
627203 |
NOTE:
(i) Installed
Capacity is as per the certificate given by the management based on triple
shift operation.
(ii) Production of
Cables is exempted from the licensing requirement under the new Industrial
Policy.
GENERAL INFORMATION
|
Suppliers : |
Hindal Company Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailer, Manufacturer Sterling and Wilson – Mumbai |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Corporation Bank, Industrial Financial Branch At
104,Bharath House, Bombay Samachar Marg, Fort, Mumbai - 400001, Maharashtra,
India ·
State Bank of India, Special Commercial Branch,
Trident Complex, Race Course Circle (N), Vadodara - 390007, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17,
R.K. Kamani Marg, Ballard Estate, Mumbai-400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
V.C. Darak and Associates Chartered Accountants |
|
Address : |
Yashodhan, 1st Floor, Malviya Road, Off. Post Office Road,
Vile Parle (East), Mumbai-400057, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAPD8698K |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and
their relatives: |
·
Ram Ratna Wires Limited [L31300MH1992PLC067802] ·
Ram Ratna Infrastructure Private Limited
[U67120MH1995PTC085552] ·
Ram Ratna International ·
Mew Electricals Limited [U31300GJ1982PLC005583] ·
Kabel Buildcon Solutions Private Limited
[U45309GJ1974PTC002487] ·
R R Parkon Private Limited
[U45203dl2002ptc114936] ·
Ram Ratna Electricals Limited
[U29309gj1989plc012222] ·
Jag-Bid Finvest Private Limited
[U67120MH1995PTC085647] ·
Ram Ratna Research and Holdings Private Limited ·
[U67120MH1994PTC077137] |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20446000 |
Equity Shares |
Rs.10/- each |
Rs. 204.460
Millions |
|
|
|
|
|
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 |
204.460 |
204.460 |
204.460 |
|
(b) Reserves & Surplus |
1248.696 |
1047.927 |
860.741 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
1453.156 |
1252.387 |
1065.201 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
827.726 |
727.474 |
315.392 |
|
(b) Deferred tax liabilities (Net) |
92.533 |
75.633 |
44.253 |
|
(c) Other long term liabilities |
1.113 |
0.113 |
0.089 |
|
(d) long-term provisions |
8.086 |
6.336 |
5.463 |
|
Total Non-current Liabilities (3) |
929.458 |
809.556 |
365.197 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1977.476 |
1752.316 |
1417.687 |
|
(b) Trade payables |
195.754 |
68.992 |
90.883 |
|
(c) Other current
liabilities |
357.031 |
246.635 |
110.193 |
|
(d) Short-term provisions |
111.686 |
95.220 |
57.611 |
|
Total Current Liabilities (4) |
2641.947 |
2163.163 |
1676.374 |
|
|
|
|
|
|
TOTAL |
5024.561 |
4225.106 |
3106.772 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1281.469 |
1026.458 |
462.312 |
|
(ii) Intangible Assets |
11.539 |
10.693 |
1.326 |
|
(iii) Capital
work-in-progress |
51.347 |
144.774 |
360.227 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
85.908 |
65.088 |
29.127 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
184.903 |
115.264 |
79.985 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1615.166 |
1362.277 |
932.977 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
799.920 |
666.819 |
479.050 |
|
(c) Trade receivables |
1738.213 |
1540.887 |
1199.595 |
|
(d) Cash and cash
equivalents |
492.553 |
425.856 |
374.091 |
|
(e) Short-term loans and
advances |
266.331 |
199.937 |
121.059 |
|
(f) Other current assets |
112.378 |
29.330 |
0.000 |
|
Total Current Assets |
3409.395 |
2862.829 |
2173.795 |
|
|
|
|
|
|
TOTAL |
5024.561 |
4225.106 |
3106.772 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9424.295 |
8038.857 |
5895.118 |
|
|
|
Other Income |
36.287 |
31.867 |
14.777 |
|
|
|
TOTAL (A) |
9460.582 |
8070.724 |
5909.895 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
7875.316 |
6876.212 |
5084.461 |
|
|
|
Employee benefit expense |
258.637 |
184.142 |
143.815 |
|
|
|
Other expenses |
633.541 |
505.259 |
391.003 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(78.210) |
(147.706) |
(111.557) |
|
|
|
TOTAL (B) |
8689.284 |
7417.907 |
5507.722 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
771.298 |
652.817 |
402.173 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
263.276 |
189.373 |
86.275 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
508.022 |
463.444 |
315.898 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
97.139 |
72.657 |
60.461 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
410.883 |
390.787 |
255.437 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
138.423 |
131.917 |
66.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
272.460 |
258.870 |
189.125 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
818.308 |
660.726 |
530.633 |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT OF
DEFERRED TAX OF EARLIER YEAR |
0.000 |
0.000 |
3.652 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
30.000 |
15.000 |
|
|
|
Proposed Dividend |
61.338 |
61.338 |
40.892 |
|
|
|
Tax on Dividend |
10.424 |
9.951 |
6.792 |
|
|
BALANCE CARRIED
TO THE B/S |
989.006 |
818.307 |
660.726 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2080.070 |
1917.924 |
1594.052 |
|
|
TOTAL EARNINGS |
2080.070 |
1917.924 |
1594.052 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
458.011 |
|
|
|
Capital Goods |
NA |
NA |
131.277 |
|
|
|
Machinery and Spares |
NA |
NA |
0.039 |
|
|
TOTAL IMPORTS |
NA |
NA |
589.327 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
13.33 |
12.66 |
9.25 |
|
Expected Sales (2013-2014): Rs.12500.000 Millions
The above information has been parted by Mr. Rajesh Jain (Finance
Controller)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.88
|
3.21 |
3.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.36
|
4.84 |
4.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.41
|
11.44 |
9.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.31 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.93
|
1.98 |
1.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
1.05 |
1.30 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
175.812 |
105.890 |
34.779
|
|
|
|
|
|
|
Total |
175.812 |
105.890 |
34.779
|
|
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
LITIGATION DETAILS
CASE DETAILS
|
|
Lodging No.:- |
ITXAL/758/2012 |
Filing Date:- |
14/05/2012 |
Reg. No.:- |
ITXA/795/2012 |
Reg. Date:- |
07/08/2012 |
|
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX - 7 |
Respondent:- |
M/S R R KABEL LIMITED |
|
|
|
Petn.Adv.:- |
S V BHARUCHA |
Resp.Adv.:- |
PARAS S SAVLA |
|
|
|
District:- |
MUMBAI |
|
|
|
Bench:- |
DIVISION |
|
|
|
|
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
|
|
Next Date:- |
27/01/2014 |
Stage:- |
|
|
|
|
Coram:- |
ACCORDING TO SITTING LIST |
|
|
|
|
ACCORDING TO SITTING LIST |
|
|
|
Act :- |
Income Tax Act, 1961 |
|
OPERATIONS
Financial Year 2012-13
proved a flourishing and eventful year for the Company with further momentum in
improving operational efficiencies and undertaking several new initiatives. The
Company has registered highest production of 833558 CKM compared to previous
year’s 792680 CKM thereby posting an increase of 5.15%. In terms of Revenue,
the company has crossed the milestone of 1000 Crores of Gross Revenue from
Operations of Rs.10240.300 Millions, as against Rs.8476.900 Millions in
previous year, higher by 20.80% and Net Profit after Tax of Rs.272.400 Millions
against the previous year’s Net Profit of Rs.258.800 Millions, higher by 5.25%.
This has been achieved inspite of uncertainty of European Economy, huge
fluctuations in LME rate of Coppers, rupee depreciation, adverse domestic and
international conditions that had a great impact on market. The Company has
posted remarkable figures by taking timely Hedging measures against fluctuating
Foreign Exchange rates and back to back pricing of Raw Material.
OUTLOOK
The Cable industry
has registered a CAGR of 16% over FY 2009-2012, largely driven by an increase
in demand from the power distribution and construction segment. The Growth in
Cable Industry is entirely driven by rising incomes of consumers, rapid
urbanization, changing consumer preferences for brand and better understanding
of the consumers of the inherent properties of cables in housing segment and
capex in the power sector.
The key
raw-material being copper for making of cables (more than 85% of consumption cost),
the pricing of copper in international market plays a major role in fixing the
selling price of Cables. Recently, uncertainty of European Economy, huge
fluctuations in LME rate of Copper, continuously depreciating Rupee (RBI ref
Rate was at Rs.54.3893 per USD as on 31.03.2013 vis a vis Rs.51.1565 per USD as
on 31.03.2012) and adverse domestic and international economic conditions had a
great impact on Industry demand domestically as well as globally.
However, the
future outlook in terms of investment in the infrastructure sector,
particularly power, is anticipated to clock with a moderate growth. This
indicates that demand for the cable business should perk up further. Government
is also expecting economy to hoist with GDP to grow to 6.50% and inflation also
to be around 6.50%. Also, the company has lately incurred capex on capacity
enhancement and latest state of art technology absorption.
The Company has
been at the forefront in the industry explaining to the consumers the
importance of cable in protecting valuable assets. The regime of Ram Ratna Path
which was initiated by the company in the Year 2008 to bring quality awareness
amongst the mass is bringing fruits to the company. Even the consumers are
getting more demanding and with product liability and safety issues getting
more stringent, it has necessitated the quality sustainability as well as
improvement in the performance of the cable. Over the last couple of years, the
Company has launched several new products of cable to improve its product mix
and strengthen its position in the cable industry market. With Positive
anticipation of Government on industrial growth coupled with company measures
for installation of latest technology, expansion of product Portfolio, capacity
enhancement and Brand endorsement, the company is heading the way, towards
increasing the market share and becoming the most preferred Brand in cable
industry market. The same has been reflected by the Growth of the Company since
last five years at a CAGR of 30% vis a vis industry growth of 16%.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Intercorporate borrowings |
223.809 |
223.170 |
|
Public deposits |
86.109 |
37.200 |
|
Loans and advances from related parties |
53.431 |
1.200 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from others |
199.435 |
169.965 |
|
Working capital loans from banks |
207.971 |
229.404 |
|
Loans and advances from related parties |
45.500 |
7.750 |
|
Total |
816.255 |
668.689 |
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10291062 |
19/06/2013 * |
3,291,300,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG.,
GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
B79646683 |
* Date of charge modification
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
Intangible assets
·
Computer software
·
Licenses and franchise
·
Licenses
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.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.