MIRA
INFORM REPORT
|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
KEI INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
D-90, Okhla Industrial Area, Phase I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.12.1992 |
|
|
|
|
Com. Reg. No.: |
55-051527 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.147.475 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1992PLC051527 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELK05368G DELK05577F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK0251C |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Low Tension (LT) Cables, High Tension
(HT) Power Cables, Extra-High Voltage (EHV) Cables, Control and
Instrumentation Cables, Rubber Cables, Winding Wires and stainless Steel
Wires (SS Wires). |
|
|
|
|
No. of Employees
: |
3000 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. General financial position of the company seems to be sound and
healthy. Profitability of the company is 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
terms 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
CG3 [Corporate Governance] |
|
Rating Explanation |
Provides its stakeholder adequate level of comfort on the degree of
corporate governance. |
|
Date |
28.01.2014 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Kunal Kishore |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9873120289 |
|
Date : |
22.10.2014 |
LOCATIONS
|
Registered/
Corporate Office : |
D-90, Okhla Industrial Area, Phase I, New Delhi-110020, |
|
Tel. No.: |
91-11-26818840/8642/0242 |
|
Mobile No. : |
91-9873120289 (Mr. Kunal) |
|
Fax No.: |
91-11-26817225/26811959 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
SP-919/920/922 RIICO Industrial Area, Phase - III,
Bhiwadi, District Alwar - 301019, |
|
Tel. No.: |
91-1493-220106/221731 |
|
Fax No.: |
91-1493-221731 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
99/2/7, Madhuban Industrial Estate, Village Rakholi,
Silvassa - 396230, Dadra and Nagar Haveli, |
|
Tel. No.: |
91-260-2644404/2630944 |
|
Fax No.: |
91-260-2645896 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Plot No.A-280/281/282/283/284 RIICO Industrial Area
(Chopanki), District Alwar -301019, |
|
Tel. No.: |
91-1493-260202/06 |
|
Fax No.: |
91-1493-260203 |
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Post Box No. 261739, Jebel Ali Free Zone, Tel: +97148812310/ +971502112013 Fax: +97148812311 E-mail: dubai@kei-ind.com |
|
|
|
|
Branch Offices : |
Mumbai (Marketing Office) 101/102, Vastu Shilp, Vastu Enclave, Andheri Pump House,
Andheri (East), Mumbai-400093, Tel: 91-22-28239673 / 28375642 Fax: 91-22-28258277 e-mail: mumbai@kei-ind.com
Jaipur Tel: 91-141-5179279 Fax No.: 91-141-2221707 Email : jaipur@kei-ind.com
Pune Tel: 91-20-30526258/ 30524765 Email : pune@kei-ind.com
Tel: 91-265-6539719 / 2341831 Fax: 91-265-2334161 e-mail: baroda@kei-ind.com Bangalore Tel: 91-80-23466260 e-mail: bangalore@kei-ind.com
Chennai Tel: 91-44-42009120 Fax: 91-44-42009130 e-mail: chennai@kei-ind.com
Tel: 91-40-20064358 Fax: 91-40-24024260 e-mail: hyderabad@kei-ind.com
Kolkata 33, Dr. Sundari Mohan
Avenue, 1st Floor, Kolkata-700014, West Bengal, India Tel: 91-33-22866696 Fax: 91-33-22866697 E-mail: kolkata@kei-ind.com SCO 84, 1st Floor, Swastik
Vihar, Sector-5, Panchkula-134109, India Tel: 91-172-4416301 Fax: 91-172-4416300 E-mail: chandigarh@kei-ind.com S-13, Thada Ram Complex,
M.P. Nagar Zone-l, Bhopal – 462011, Madhya Pradesh, India E-mail: bhopal@kei-ind.com Bhubaneshwar C/21, Palashpalli, Near N.C.C. Office, Bhubaneswar-751012, Orissa, India E-mail: bhubneshwar@kei-ind.com Chhatisgarh Soubhagya, 72/10, Nehru
Nagar(West), Bhilai-490020, Chhattisgarh, India E-mail: chhatisgarh@kei-ind.com 8/6,
F.M. Colony, Civil Lines, Kanpur-208001, Uttar Pradesh, India Email: kanpur@kei-ind.com F-1, Shetye Apartments,
Antilpeth, Bicholim, Goa-403504, India E-mail: goa@kei-ind.com 103, Misal Layout,
Nagpur-440014, Maharashtra, India E-mail: nagpur@kei-ind.com 36/2853, Nagawallil, Balan
Menon Road, Kaloor, Cochin-682017, Kerala, India E-mail: cochin@kei-ind.com 136, T.V. Swamy Road, R.S.
Puram, Coimbatore-641002, Tamilnadu, India
E-mail: coimbatore@kei-ind.com 102 First Floor, Saran
Chamber-2, 5 Park Road, Lucknow-226001, Uttar Pradesh, India Email: up@kei-ind.com Jamshedpur FlatC1/3, Sabitri Tower, 1st Floor,
Ulyan, Kadam, Jamshedpur – 831005, Jharkhand, India Guwahati 38, Rehabari Bill Par, A. K. Azad Road, Near NE TV,
Guwahati – 781008, Assam, India E-mail: guwahati@kei-ind.com
|
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Anil Gupta |
|
Designation : |
Chairman cum Managing Director |
|
Qualification : |
B.Com |
|
Date of Appointment : |
31.12.1992 |
|
|
|
|
Name : |
Mrs. Archana Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pawan Bholusaria |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K G Somani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vikram Bhartia |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vijay Bhushan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajeev Gupta |
|
Designation : |
Executive Director (Finance) |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
14.12.1993 |
KEY EXECUTIVES
|
Name : |
Mr. N. N. Suri |
|
Designation : |
Executive Director (Corporate Strategy) |
|
|
|
|
Name : |
Mr. S.L. Kakkar |
|
Designation : |
President |
|
|
|
|
Name : |
Mr. Manoj Kakkar |
|
Designation : |
Sr. Vice President (Marketing) |
|
|
|
|
Name : |
Mr. Lalit Sharma, |
|
Designation : |
Chief Operating Office |
|
|
|
|
Name : |
Mr. P.K. Aggarwal |
|
Designation : |
Vice President (Corporate) |
|
|
|
|
Name : |
Mr. K.C. Sharma |
|
Designation : |
Vice President (Operation) |
|
|
|
|
Name : |
Mr. Manish Mantri, |
|
Designation : |
Vice President (EPC/EHV) |
|
|
|
|
Name : |
Mr. Arvind Shrowty |
|
Designation : |
Corporate Advisor |
|
|
|
|
Name : |
Mr. N.K. Bajaj |
|
Designation : |
Sr. GM-Marketing (Wires and Flexibles) |
|
|
|
|
Name : |
Mr. Munishvar Gaur |
|
Designation : |
GM (Head-North Marketing Cables) |
|
|
|
|
Name : |
Mr. Alok Saha |
|
Designation : |
GM (Marketing) |
|
|
|
|
Name : |
Mr. Umesh B. Kank |
|
Designation : |
GM (Marketing) |
|
|
|
|
Name : |
Mr. M.V. Gananath |
|
Designation : |
GM-Sales and Marketing |
|
|
|
|
Name : |
Mr. Keshav K. Mitra, |
|
Designation : |
GM-Sales and Marketing |
|
|
|
|
Name : |
Mr. Deepak Manchanda |
|
Designation : |
GM (Business Development) |
|
|
|
|
Name : |
Mr. Naval Singh Yadav |
|
Designation : |
Sr. GM (Technical) |
|
|
|
|
Name : |
Mr. Pawan Kumar Jain |
|
Designation : |
GM (EPC) |
|
|
|
|
Name : |
Mr. Dilip Barnwal |
|
Designation : |
Vice President (Operation-Silvassa) |
|
|
|
|
Name : |
Mr. Ajay Mehra |
|
Designation : |
GM (Works - Bhiwadi) |
|
|
|
|
Name : |
Mr. Adarsh Jain |
|
Designation : |
GM (Finance) |
|
|
|
|
Name : |
Mr. Kunal Gupta |
|
Designation : |
GM (International Marketing) |
|
|
|
|
Name : |
Mr. Gaurav Sahi |
|
Designation : |
Head - Corporate Communication |
|
|
|
|
Name : |
Mr. Anaand Kishore |
|
Designation : |
GM ( HR and Admin) |
|
|
|
|
Name : |
Mr. K.D. Tamhankar |
|
Designation : |
GM (International Marketing) |
SHAREHOLDING PATTERN
AS ON: 30.06.2014
|
Category of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
21068466 |
27.28 |
|
|
17080000 |
22.11 |
|
|
38148466 |
49.39 |
|
|
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
38148466 |
49.39 |
|
|
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
6500 |
0.01 |
|
|
800969 |
1.04 |
|
|
807469 |
1.05 |
|
|
|
|
|
|
|
|
|
|
6500 |
0.01 |
|
|
|
|
|
|
|
|
|
|
15820879 |
20.48 |
|
|
4256002 |
5.51 |
|
|
|
|
|
|
2193516 |
2.84 |
|
|
515931 |
0.67 |
|
|
1676985 |
2.17 |
|
|
600 |
0.00 |
|
|
38281503 |
49.56 |
|
|
|
|
|
Total Public shareholding (B) |
39088972 |
50.61 |
|
|
|
|
|
Total (A)+(B) |
77237438 |
100.00 |
|
|
|
|
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
|
|
|
Total (A)+(B)+(C) |
77237438 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Low Tension (LT) Cables, High Tension
(HT) Power Cables, Extra-High Voltage (EHV) Cables, Control and Instrumentation
Cables, Rubber Cables, Winding Wires and stainless Steel Wires (SS Wires). |
|
|
|
|
Exports : |
|
|
Products : |
Cables and Wires |
|
Countries : |
·
Singapore ·
UAE ·
South Africa
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material and Machines |
|
Countries : |
·
Korea ·
Thailand |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Hindalco Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
Others ·
Lanco Wires ·
Suzlon Energy |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
3000 [Approximately] |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· Dena Bank · Punjab National Bank · ING Vysya Bank Limited · State Bank of Hyderabad · Yes Bank Limited · Standard Chartered Bank · ICICI Bank Limited · HSBC Bank Limited · HDFC Bank Limited · State Bank of Patiala · IndusInd Bank Limited · State Bank of Bikaner and Jaipur · Indian Overseas Bank · Corporation Bank · Lakshmi Vilas Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
SECURED LOAN
Note : Long-Term
Borrowings: Nature of Security: Term Loans from Banks are Secured by a first pari passu charge over Land & Building, Plant & Machinery and other movable fixed assets located at the Company's Plants at Plot No. A-280-284, Chopanki, SP-919, Bhiwadi and 99/2/7, Madhuban Industrial Estate, Silvassa. Further, they are secured by personal guarantee of Mr. Anil Gupta, Chairman-cum-Managing Director of the Company. Finance Lease Obligations are secured against leased assets. Unsecured Deposits are repayable within 3 years from the date of acceptance. Short Term Borrowings: Working Capital facilities from banks are secured by 1st
pari-passu charge by way of hypothecation on the entire current assets
including raw material, stock in process, finished goods, consumable stores
& spares and receivables of the Company, 1st pari-passu charge on present
and future fixed assets at SP-920 & SP-922, RIICO Industrial Area Phase
III, Bhiwadi, Distt. Alwar (Rajasthan) and movable fixed assets at D-90,
Okhla Industrial Area, Phase I , New Delhi , 2nd pari-passu charge by
equitable mortgage of property of the Land and Building at 99/2/7, Madhuban
Industrial Estate, Village Rakholi, Silvassa (D & N H), Plot No. A
280-284, Chopanki and SP-919, RIICO Industrial Area Phase III, Bhiwadi,
Distt. Alwar (Rajasthan) both present and future. Further, they are secured
by personal guarantee of Mr. Anil Gupta, Chairman-cum-Managing Director of
the Company. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jagdish Chand and Company Chartered Accountant |
|
Address : |
|
|
|
|
|
Associates : |
KEI International Limited |
|
|
|
|
Other Related Parties : |
·
Projection Financial and Management Consultants
Private Limited ·
Shubh Laxmi Motels and Inns Private Limited ·
Soubhagya Agency Private Limited ·
Dhan Versha Agency Private Limited ·
KEI Cables Private Limited ·
KEI Power Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs.02/- each |
Rs. 220.000 Millions |
|
300000 |
Preference Shrer |
Rs.100/- each |
Rs. 30.000 Millions |
|
|
TOTAL |
|
Rs. 250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
73737438 |
Equity Shares |
Rs.02/- each |
Rs. 147.475
Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs.2/- each |
Rs.220.000 Millions |
|
300000 |
Preferences Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
TOTAL |
|
Rs.250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77237438 |
Equity Shares |
Rs.2/- each |
Rs.154.475 Millions |
|
|
|
|
|
1.
Rights, preferences and restrictions attached to
shares:
Equity Shares: The company has issued one class of equity shares
having par value of Rs. 2 per share. Each shareholder is eligible for one vote per
share held. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting, except in
case of interim dividend. In the event of liquidation, the equity shareholders
are eligible to receive the remaining assets of the Company after distribution
of all preferential amounts, in proportion to their shareholding.
2.
Reconciliation of the Number of Equity Shares:
(Rs. in Millions)
|
Particulars |
As at 31st March, 2014 |
As at 31st March, 2013 |
||
|
Nos. |
Amount |
Nos. |
Amount |
|
|
Balance as at the beginning of the year |
70237438 |
140.475 |
66937438 |
133.875 |
|
Add: Issued during the Year |
3500000 |
7.000 |
3300000 |
6.600 |
|
Balance as at the end of the year |
73737438 |
147.475 |
70237438 |
140.475 |
Additions of 35,00,000 (Previous Year 33,00,000) equity shares were
issued on preferential basis to following
parties as per SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2009 at a price of Rs. 14 per
share (including securities premium of Rs. 12/-).
|
Name of Shareholder |
Year Ended 31st March, 2014 |
Year Ended 31st March, 2013 |
|
Nos. |
Nos. |
|
|
Mr. Anil Gupta |
000 |
1400000 |
|
M/s Projection Financial and Management Consultants Private Limited |
3500000 |
900000 |
|
M/s Dhan Versha Agency Private Limited |
000 |
1000000 |
|
|
3500000 |
3300000 |
3.
List of Equity Shareholders holding more than 5% of
the aggregate Equity Shares:
|
Name of Shareholders |
As at 31st March, 2014 |
As at 31st March, 2013 |
||
|
Nos. |
%age |
Nos. |
%age |
|
|
Mr. Anil Gupta |
15580776 |
21.13% |
15580776 |
22.18% |
|
M/s Anil Gupta HUF beneficiary |
|
|
|
|
|
Mr. Anil Gupta |
4650375 |
6.31% |
4650375 |
6.62% |
|
M/s Projection Financial and |
|
|
|
|
|
Management Consultants Private Limited |
4400000 |
5.97% |
900000 |
1.28% |
During the year the Company has allotted 35,00,000 (thirty five lacs)
Share Warrants on preferential basis to
Promoter / Promoter Group. The Warrant Holder has option of subscribing
one equity share of face value of
Rs. 2/- each per Warrant at a price of Rs. 14/- per equity share any
time up to 10.01.2015. Amount received from
Warrant holders as on March 31, 2014 is Rs. 44.250 Millions
FINANCIAL DATA
[All figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
147.475 |
140.475 |
133.875 |
|
(b) Reserves &
Surplus |
2539.106 |
2415.222 |
2126.710 |
|
(c) Money received
against share warrants |
44.250 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2730.831 |
2555.697 |
2260.585 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1165.563 |
1034.437 |
1285.702 |
|
(b) Deferred tax
liabilities (Net) |
160.347 |
105.638 |
23.352 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
23.462 |
21.392 |
16.069 |
|
Total Non-current
Liabilities (3) |
1349.372 |
1161.467 |
1325.123 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3269.523 |
2860.261 |
2917.316 |
|
(b) Trade payables |
3872.383 |
3947.807 |
4092.579 |
|
(c) Other current
liabilities |
1166.546 |
1200.496 |
1297.804 |
|
(d) Short-term provisions |
46.507 |
45.790 |
45.747 |
|
Total Current Liabilities
(4) |
8354.959 |
8054.354 |
8353.446 |
|
|
|
|
|
|
TOTAL |
12435.162 |
11771.518 |
11939.154 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3133.009 |
3082.580 |
3173.697 |
|
(ii) Intangible Assets |
7.756 |
6.124 |
7.332 |
|
(iii) Capital
work-in-progress |
2.394 |
25.976 |
2.091 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
30.917 |
30.817 |
30.817 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
33.988 |
52.734 |
34.209 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
2.074 |
|
Total Non-Current Assets |
3208.064 |
3198.231 |
3250.220 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4031.395 |
3581.551 |
2922.434 |
|
(c) Trade receivables |
4286.251 |
4212.183 |
4825.995 |
|
(d) Cash and cash
equivalents |
45.569 |
156.221 |
43.688 |
|
(e) Short-term loans and
advances |
605.456 |
455.049 |
523.224 |
|
(f) Other current assets |
258.427 |
168.283 |
373.593 |
|
Total Current Assets |
9227.098 |
8573.287 |
8688.934 |
|
|
|
|
|
|
TOTAL |
12435.162 |
11771.518 |
11939.154 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
16189.093 |
16583.525 |
17223.032 |
|
|
Other Income |
12.771 |
23.550 |
16.248 |
|
|
TOTAL (A) |
16201.864 |
16607.075 |
17239.280 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
12482.097 |
12461.276 |
13149.219 |
|
|
Purchases of
Stock-in-Trade |
17.948 |
59.680 |
101.667 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(419.485) |
(433.901) |
(84.286) |
|
|
Employees benefits
expense |
515.855 |
461.441 |
370.518 |
|
|
Other expenses |
2062.244 |
2329.833 |
2185.118 |
|
|
TOTAL (B) |
14658.659 |
14878.329 |
15722.236 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
(C) |
1543.205 |
1728.746 |
1517.044 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
1115.306 |
1093.537 |
961.623 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
427.899 |
635.209 |
555.421 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
209.735 |
204.448 |
195.449 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
218.164 |
430.761 |
359.972 |
|
|
|
|
|
|
|
Less |
TAX (H) |
102.156 |
167.391 |
116.684 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
116.008 |
263.370 |
243.288 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1725.299 |
1478.363 |
1250.634 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend on Equity
Shares (Dividend of Rs.0.20 per equity share) |
15.448 |
14.047 |
13.387 |
|
|
Dividend Distribution Tax on
Proposed Dividend |
2.625 |
2.387 |
2.172 |
|
|
Total |
18.073 |
16.434 |
15.559 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
1841.307 |
1725.299 |
1478.363 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Sales (Exports) |
1975.346 |
972.181 |
1250.023 |
|
|
TOTAL EARNINGS |
1975.346 |
972.181 |
1250.023 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials purchases |
946.361 |
350.577 |
413.315 |
|
|
Packing Materials |
17.589 |
14.235 |
4.765 |
|
|
Project Materials |
4.358 |
0.000 |
0.000 |
|
|
Traded Goods |
1.180 |
0.000 |
0.000 |
|
|
Stores, Spares &
Consumables |
4.735 |
1.713 |
3.234 |
|
|
Capital Goods |
34.369 |
11.333 |
42.018 |
|
|
TOTAL IMPORTS |
1008.592 |
366.525 |
421.314 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.59 |
3.84 |
3.63 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.72 |
1.59 |
1.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.35 |
2.60 |
2.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.76 |
3.68 |
3.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.17 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.62 |
1.52 |
1.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.06 |
1.04 |
FINANCIAL ANALYSIS
[All figures are in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
133.875 |
140.475 |
147.475 |
|
Reserves & Surplus |
2126.710 |
2415.222 |
2539.106 |
|
Share application pending
money allotment |
0.000 |
0.000 |
44.250 |
|
Net worth |
2260.585 |
2555.697 |
2730.831 |
|
|
|
|
|
|
long-term borrowings |
1285.702 |
1034.437 |
1165.563 |
|
Short term borrowings |
2917.316 |
2860.261 |
3269.523 |
|
Total borrowings |
4203.018 |
3894.698 |
4435.086 |
|
Debt/Equity ratio |
1.859 |
1.524 |
1.651 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
17223.032 |
16583.525 |
16189.093 |
|
|
|
(3.713) |
(2.378) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
17223.032 |
16583.525 |
16189.093 |
|
Profit |
243.288 |
263.370 |
116.008 |
|
|
1.41% |
1.59% |
0.72% |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 (Rs.
In Millions) |
As
on 31.03.2013 (Rs.
In Millions) |
|
Long-Term
Borrowings: |
|
|
|
Loans and
Advances from Related parties |
|
|
|
Deposits from Related Parties |
7.350 |
3.600 |
|
Deposits from Others |
|
|
|
Public Deposits |
28.100 |
22.285 |
|
|
|
|
|
Short Term
Borrowings: |
|
|
|
Commercial Paper Issued to Bank |
0.000 |
200.000 |
|
Loans and Advances from Related Parties |
|
|
|
Deposits |
0.650 |
1.000 |
|
Inter Corporate Deposits |
6.300 |
0.000 |
|
Deposits from Others |
|
|
|
Inter Corporate Deposits |
5.500 |
5.500 |
|
Public Deposits |
6.385 |
10.210 |
|
Total |
54.285 |
242.595 |
|
|
|
|
LATIGATION DETAILS
|
CASE DETAILS IN THE HIGH
COURT OF DELHI AT NEW DELHI
COMMISSIONER OF
INCOME TAX DELHI -II..... APPELLANT
ORDER
The Division
Bench has not assembled as Hon?ble Mr. Justice Sanjiv Khanna is on Leave
today. Re-List on 6th
January, 2015. BY ORDER COURT MASTER OCTOBER 09, 2014 VKR 7. |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2014
|
Sr. No. |
Particulars |
Rs in Millions |
||
|
Quarter ended |
||||
|
as on 30.06.2014 |
||||
|
(Unaudited) |
||||
|
1 |
(a) Net Sales/Income from Operations |
3905.368 |
||
|
|
(b)Other Operating Income |
23.188 |
||
|
|
Total Income
From Operations (Net) |
3928.556 |
||
|
2 |
Expenditure |
|
||
|
|
(a) |
Cost of Materials Consumed |
3231.499 |
|
|
|
(b) |
Purchases of Stock-in-Trade |
14.224 |
|
|
|
(c) |
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(465.457) |
|
|
|
(d) |
Employees benefits expense |
141.332 |
|
|
|
(e) |
Depreciation and amortization expense |
63.020 |
|
|
|
(f ) |
Other expenses |
627.403 |
|
|
|
|
TOTAL (B) |
3612.021 |
|
|
|
|
|
||
|
3 |
Profit from operation before other income, interest and other
exceptional items(1-2) |
316.535 |
||
|
4 |
Other Income |
6.541 |
||
|
5 |
profit before interest and exceptional items(3+4) |
323.076 |
||
|
6 |
Interest |
265.561 |
||
|
7 |
Profit after interest but before exceptional items(5-6) |
57.515 |
||
|
8 |
Exceptional Items |
--- |
||
|
9 |
Profit(+)/Loss(-) from Ordinary Activities before tax (7-8) |
57.515 |
||
|
10 |
Tax Expenses |
22.055 |
||
|
11 |
Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10) |
35.460 |
||
|
12 |
Extra Ordinary Items |
--- |
||
|
13 |
Net Profit(+)/Loss(-) for the period (1112) |
35.460 |
||
|
14 |
Paid-up Equity Share Capital Rs.2/ per share |
154.475 |
||
|
15 |
Reserves excluding revaluation reserves |
--- |
||
|
16 |
Earning Per
Share |
|
||
|
(a) |
Basic and diluted EPS before Extraordinary items for the period, for
the year to date and for the previous year(not to be annualised) |
0.47 |
||
|
(b) |
Basic and diluted EPS after
Extraordinary items for the period, for the year to date and for the previous
year(not to be annualised) |
0.46 |
||
|
17 |
Public
Shareholding |
|
||
|
|
Number of Shares |
39088972 |
||
|
|
Percentage of Shareholding |
50.61% |
||
|
18 |
Promoters and Promoter group |
|
||
|
|
a) Pledged/Encumbered |
|
||
|
|
Number of shares |
Nil |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
Nil |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
Nil |
||
|
|
b) Non-encumbered |
|
||
|
|
Number of shares |
38148466 |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
100% |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
49.39% |
||
|
|
Particulars |
3 months ended 30.06.2014 |
||
|
|
INVESTOR
COMPLAINTS |
|
||
|
|
Pending at the beginning of the quarter |
NIL |
||
|
|
Received during the quarter |
1 |
||
|
|
Disposed off during the quarter |
1 |
||
|
|
Remaining unresolved at the end of the quarter |
NIL |
||
|
|
||||
|
Segment Wise
Revenue, Results and Capital Employed |
||||
|
1. |
Segment revenue – cables |
3274.999 |
||
|
|
Segment – stainless steel wire |
282.671 |
||
|
|
Segment – tumkey products |
526.817 |
||
|
|
Unallocated Segment |
0.513 |
||
|
|
Total |
4085.000 |
||
|
|
Less : inter segment elimination |
12.164 |
||
|
|
Total |
4072.836 |
||
|
|
Less : inter segment revenue |
140.173 |
||
|
|
Net sales /
income from operations |
3932.663 |
||
|
|
|
|
||
|
2. |
Segment results
(Profit) (+) / loss (-) before tax and interest from segment |
|
||
|
|
Segment revenue – cables |
370.153 |
||
|
|
Segment – stainless steel wire |
18.738 |
||
|
|
Segment – tumkey products |
76.410 |
||
|
|
Total
|
465.301 |
||
|
|
Less : inter segment results |
12.924 |
||
|
|
Net segment
results |
452.377 |
||
|
|
Less : i) interest |
265.561 |
||
|
|
ii) other un –
allocable expenditure net off un – allocable income |
129.301 |
||
|
|
Total profit
before tax |
57.515 |
||
|
3. |
Capital employed
(segment assets – segment liabilities) |
|
||
|
|
Segment revenue – cables |
6535.635 |
||
|
|
Segment – stainless steel wire |
195.180 |
||
|
|
Segment – tumkey products |
1035.527 |
||
|
|
Unallocated Segment |
(3393.077) |
||
|
|
Total
|
4273.266 |
||
|
Notes: 1 The above Financial Results reviewed by the Audit Committee, have
been approved and taken on record by the Board of Directors at their meeting
held on August 8, 2014. 2 The Statutory Auditors of the company have carried out Limited
Review of Financial Results for the quarter ended June 30, 2014 pursuant to
Clause 41 of the Listing Agreement. 3. During the quarter, depreciation has been provided on fixed assets
as per the useful life specified in the Companies Act, 2013 and as per
preliminary assessment of useful life by the company. In case of existing
assets, depreciation has been provided based on remaining useful life of the
assets. Based on the current estimates, carrying value of the assets whose
useful life is already exhausted as on 1st April, 2014, amounting
to Rs. 20.279 Millions Has been recognised in the opening balance of retained
earnings. Has there been no charge in the useful life of assets, depreciation
expense for the quarter would have been lower by Rs. 7.995 Millions. 4 The Board Of Directors as its meeting held on 15.05.2014, have been
issued and allotted 3500000 equity shares upon conversion of Warrants at a
price of Rs. 14/- per equity shares (including premium of Rs. 12/-) on
preferential basis to Promoter Group in accordance with SEBI (ICDR)
Regulations, 2009. 5 The Financial Figures of
quarter ended March 31, 2014 are the balancing figures between audited
figures in respect of the financial year ended on March 31, 2014 and the
published year to date figures up to the third quarter i.e. December 31,
2013. 6 Tax expense for the quarter includes Deferred Tax of Rs. 10.000
Millions On estimated basis. 7 Previous year / periods figures have been regrouped / reclassified,
wherever necessary. |
REVIEW OF OPERATIONS
During the year 2013-14, turnover of The
Company remained flat and there was slight decline from Rs. 1,81,463.80
Millions to Rs. 1,75,47.501 Millions.
During the year, turnover from Cables stood at Rs. 1,27,18.202 Millions as
compared to Rs. 1,29,48.216 Millions in
2012-13, showing a marginal decline of 1.78%. Stainless Steel Wire Products
contributed a turnover of Rs. 10,03.062
Millions in 2013-14 as compared to Rs.
8,30.569 Millions in 2012-13, showing strong growth of 20.77%. Winding
wire, Flexible & House Wire contributed Rs.
29,40.673 Millions in 2013-14 as against Rs. 26,64.777 Millions in 2012-13, showing growth
of 10.35%. During the year under review, Profit before finance costs,
depreciation and amortisation expenses and tax expenses stood at Rs. 15,43.205 Millions as compared to 17,28.746
Millions while Profit Before Tax stood at Rs.
2,18.164 Millions and Net profit at Rs.
1,16.008 Millions respectively. Your Company was able to bag various
prestigious orders of elastomeric cables, speciality cables apart from normal
cables & wires which contributed towards achievement of turnover. The
Company has already marked its presence in Extra High Voltage (EHV) Cable
segment ranging from 66kV to 220kV and will continue to further strengthen its
position in this segment with Technical Collaboration from M/s. Brugg Kabel AG,
Switzerland. The Company has also successfully completed the rigorous long
duration pre-qualification test on 220 kV Cable system at an International
Laboratory, FGH Engineering & Test GmbH, Hallenweg, Germany. This gives the
Company a firm marketing ground and the status of being the only few Company in
India to achieve this feat.
FUTURE OUTLOOK
The business environment for Cable industry is
showing signs of industrial and infrastructure growth. The future
outlook in terms of investment in the
infrastructure sector, particularly power, is also good. This indicates that
demand for the cable business should improve further. With Company’s successful
venture into Extra High Voltage (EHV) Cables and presence in Engineering,
Procurement and Construction (EPC) space, Company has an edge in the Cable
Industry. The Company has specific tie-ups in this segment i.e. Foreign
Technical Collaboration with Brugg Kabel AG, Switzerland which will help the
Company to capitalize its proven presence in the Cable and EPC business.
MANAGEMENT DISCUSSION AND ANALYSIS
COMPANY OVERVIEW
A leading player in the cables business, KEI
Industries Limited (hereinafter “the Company” / “KEI”) is engaged in the
manufacturing and marketing of power cables for retail and institutional
segments. The Company’s wide product portfolio encompasses the complete range
of power cables – Low Tension (LT), High Tension (HT) and Extra High Voltage
(EHV), control and instrumentation cables, specialty cables, elastomeric
cables, rubber cables, submersible cables, flexible and house wires, winding
wires and stainless steel wires. The cables are designed to address the diverse
cabling requirements of a wide spectrum of private and public sectors, such as
power, oil refineries, railways, automobiles, cement, steel, fertilizers,
textile and real estate, in the domestic and overseas markets. Besides
manufacture of electrical cables/wires and stainless steel wires, the Company is also engaged in
Engineering, Procurement and Construction (EPC) business, wherein it has
developed extensive expertise across the power value chain to deliver quality
projects. During the last three years, the Company has procured and executed
several prestigious orders/contracts for survey, supply of materials, design,
erection, testing & commissioning of EPC projects on a turnkey basis.
KEI’s diversified business model gives it a
strong competitive edge and the Company, ranked among the top three cable
manufacturing companies in India, has effectively aligned its capabilities to
its expanding capacities to deliver diverse KEI’s diversified business model
gives it a strong competitive edge and the Company, ranked among the top three
cable manufacturing companies in India, has effectively aligned its
capabilities to its expanding capacities to deliver diverse humongous
opportunities and growth potential across power utilities, core infrastructure,
industrial and real estate projects across the country.
With specialty cables gaining increasing
importance globally, KEI has developed strong capabilities in their
manufacture, which has helped the Company address specialized needs of
customers across its regions of presence. Retail is a key area of focus for the
Company, which has an extensive network of channel partners and
dealers/distributors to market its products pan India. EPC is also a major
thrust area for the Company, which has the necessary pre-requisites and
wherewithal to meet the growing demands in this area.
ECONOMIC REVIEW
Led by the United States, the advanced
economies provided the much-needed impetus to the overall recovery of the
global economy, especially in the latter half of 2013. The US witnessed
substantial recovery on account of encouraging monetary policies and a smaller
drag from fiscal consolidation, pushing its growth rate at par with Eurozone
economies. On the other hand, growth in the Euro one economies slowed down
during the year owing to high debt and financial fragmentation. Overall,
however, the global recovery is expected to accelerate in 2014, especially in
the advanced economies led by the US, the UK and Germany. In contrast to the
developed nations, the emerging market economies continued to face unfavorable
external financial climate, along with infrastructure bottlenecks, labor market
issues and subdued investment climate. According to IMF – WEO Report, April
2014, the global GDP growth is projected to reach 3.6 per cent in 2014 and 3.9
per cent by 2015.
INDIAN ECONOMIC SCENARIO
Like other emerging markets, India’s GDP
slowed down further, to 4.7 per cent, in 2013-14. It was the second
consecutive year of sub-5 per cent growth
after reaching levels of 8 per cent for almost a decade prior to that. A
combination of external factors and domestic structural constraints as well as
inflationary pressures led to this decline.
The industrial sector, which includes
manufacturing, mining, electricity and construction, was the worst affected.
The sector recorded a mere 0.4 per cent growth in 2013- 14, contracting further
from 1.0 per cent in 2012-13. Weakened domestic demand, higher raw material
prices, interest rate hikes, supply side bottlenecks, subdued business
sentiment and slow pace of implementation of reforms hampered the performance
of the sector.
Notwithstanding the challenging environment
that prevailed during the year, there were many positive takeaways, the most
notable being narrowing of the Current Account Deficit (CAD) after two years of
extremely high rates.
Further, inflation reduced in the second half
of the year and fiscal deficit witnessed a decline for the second year in a
row, following some medium term policy interventions by the government.
Sentiment picked up, as reflected in a capital market upsurge witnessed towards
the end of the year, spilling over to the next fiscal as well.
The spill-over effect of the pick-up is
expected to continue, with the economy projected to get a facelift on account
of moderation in inflation and drop in deficit levels. These factors are
expected to help ease monetary policy stance and revive the investment climate
in the country. The reforms agenda of the new Government at the Centre is
likely to provide impetus to the support policies that will address supply-side
concerns, boost infrastructure investment, revive investment climate, and
thereby infuse growth, optimism and confidence in the economy.
These policy initiatives, along with
expectations of moderate recovery in some advanced economies, are likely to
brighten the country’s growth prospects in the coming year.
Expansion in transmission system and capacity
In order to ensure that power reaches the end-consumers, transmission and
distribution capacities are also planned for augmentation, commensurate with
the addition of
generation capacities. The 12th Plan envisages
37,800 MW of inter-regional transmission capacity addition, along with about
1,09,000 circuit kms. of transmission lines, 13,000 MW HVDC terminal capacity,
AC transformation capacity of 2,70,000 MVA and a quantum jump in 765 kV
transmission systems.
CHALLENGES AND OUTLOOK
The Government’s targets for the Power sector
are critically dependent on consistent fuel supply (coal as well as gas),
better financial health of the State Electricity Boards (SEBs) and making PPAs
of IPPs economically viable. All these factors also affect the capital
expenditure program in the Power sector. To manage these concerns, some steps
have been initiated for restructuring Discoms’ finances, strengthening
governance standards, rationalizing tariff structure and optimizing power
procurement cost.
FUTURE OUTLOOK
Greater thrust on retail business, expansion
into more geographies and a focused growth strategy shall be the
growth drivers for the Company, going forward.
With the pre-qualification criteria now fulfilled, the Company is set
to scale up its EHV sales and consequently grow
its presence in the EPC business, which consumes a significant portion of the
EHV cables. The Company shall continue to strengthen its capabilities across
its business segments to align the same with its increased capacities. This
will help KEI leverage its capacities to the maximum, and also increase its
customer base across the public and private sectors.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10469160 |
06/12/2013 |
510,000,000.00 |
STATE BANK OF
INDIA |
OVERSEAS BRANCH,
JAWAHAR VYAPAR BHAWAN, 1, TOLSTO |
B93133148 |
|
2 |
10447099 |
07/09/2013 |
200,000,000.00 |
SBERBANK |
UPPER GROUND
FLOOR, DR. GOPAL DASS BHAWAN,, 28, B |
B84049741 |
|
3 |
10440902 |
03/08/2013 |
250,000,000.00 |
STATE BANK OF
HYDERABAD |
16, KUNDAN
HOUSE,, NEHRU PLACE, NEW DELHI- 110019, INDIA |
B81055618 |
|
4 |
10429320 |
27/05/2013 |
250,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
SCB BRANCH,
101-102, NEW DELHI HOUSE, BARAKHAMBA |
B76399690 |
|
5 |
10401944 |
15/02/2013 * |
145,000,000.00 |
IDBI Bank Limited |
INDIAN RED CROSS
SOCIETY BUILDING, 1, RED CROSS R |
B71572358 |
|
6 |
10386739 |
15/02/2013 * |
100,000,000.00 |
DENA BANK |
35-36 AGGARWAL
BHAWAN, NEHRU PLACE, DELHI |
B72609100 |
|
7 |
10386738 |
15/02/2013 * |
145,000,000.00 |
DENA BANK |
35-36 AGGARWAL
BHAWAN, NEHRU PLACE, DELHI |
B72610033 |
|
8 |
10376461 |
13/03/2014 * |
100,000,000.00 |
DCB BANK LIMITED |
A-SET HOUSE, 3RD
FLOOR, 7/56,, DESH BANDHU GUPTA |
C01237825 |
|
9 |
10356110 |
15/02/2013 * |
200,000,000.00 |
LAKSHMI VILAS
BANK LIMITED |
FLAT NO:
GF-8-9-10; TOLSTOY HOUSE, 15-17,, TOLSTOY MARG, JANPATH, NEW DELHI- 110001,
INDIA |
B72607500 |
|
10 |
10324580 |
15/02/2013 * |
234,400,000.00 |
DENA BANK |
35-36 AGGARWAL
BHAWAN, NEHRU PLACE, DELHI, |
B72617962 |
|
11 |
10323314 |
15/02/2013 * |
543,000,000.00 |
PUNJAB NATIONAL
BANK |
UNIT 1003, 10TH
FLOOR,, LI PO CHUN CHAMBERS 189, |
B72609837 |
|
12 |
10281418 |
15/02/2013 * |
104,200,000.00 |
DENA BANK |
35-36, AGGARWAL
BHAWAN,, NEHRU PLACE, DELHI - 110019, INDIA |
B72609597 |
|
13 |
10269254 |
15/02/2013 * |
312,500,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
101-102, NEW
DELHI HOUSE, 27 BARAKHAMA ROAD, NEW D |
B72368533 |
|
14 |
10202995 |
15/02/2013 * |
196,566,000.00 |
PUNJAB NATIONAL
BANK |
UNIT 1003, 10TH
FLOOR,, LI PO CHUN CHAMBERS 189, |
B72608144 |
|
15 |
10004896 |
13/03/2014 * |
11,760,000,000.00 |
DENA BANK(LEAD
BANK) |
35-36, AGGARWAL
BHAWAN, NEHRU PLACE,, NEW DELHI, |
C01137199 |
* Date of charge
modification
FIXED ASSETS:
Tangible Assets
· Land Free Hold
· Land Lease Hold
· Building
· Plant and Equipment
· Furniture and Fixtures
· Leasehold Building Improvement
· Vehicles
· Office Equipment
· Vehicles
Intangible Assets
· Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.35 |
|
|
1 |
Rs. 98.93 |
|
Euro |
1 |
Rs. 77.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.