MIRA
INFORM REPORT
|
Report Date : |
16.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAYCHEM-RPG PRIVATE LIMITED (w.e.f. 08.09.2010) |
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Formerly Known
As : |
RAYCHEM RPG LIMITED |
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Registered
Office : |
RPG House, 463, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.08.1984 |
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Com. Reg. No.: |
11-033786 |
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Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
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CIN No.: [Company Identification
No.] |
U74999MH1984PTC033786 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR15956D |
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PAN No.: [Permanent Account No.] |
AAACR8032L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufactures and Supplies energy transmission and distribution, transformer, telecommunications, and oil and gas products. |
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No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (66) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture
between R P G Enterprises, India and TE Connectivity/ U.S.A. It is a
well-established and reputed company having fine track. The company possesses a strong
financial and liquidity profile marked by healthy capital structure along
with sound networth base during 2013. The ratings also take into
consideration the strong leadership position of the subject in India’s cable
jointing kits market. Trade relations are fair.
Business is active. Payment terms are reported as regular and as per
commitments. The company can be considered
good for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
FITCH INDIA RATING |
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Rating |
Long term rating = A+ |
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Rating Explanation |
Adequate degree of
safety and low credit risk. |
|
Date |
8th
August, 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 DENIED
|
Name : |
Mr. Himanshu Gupta |
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Designation : |
Regional Head |
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Contact No.: |
91-9873784117 |
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Date : |
16.09.2014 |
LOCATIONS
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Registered Office / Corporate Office: |
RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai - 400030, Maharashtra, India |
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Tel. No.: |
91-22-24937485 / 6 / 39509400 |
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Mobile No.: |
91-9873784117 (Mr. Himanshu Gupta) |
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Fax No.: |
91-22-24938879 |
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E-Mail : |
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Website : |
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Factory : |
Gat No 426/2B, Chakan Talegaon Road, Mahalunge Village, Taluka : Khed,
Pune – 410501, Maharashtra, India |
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Operational Office 1 / Sales Office 1 : |
Village Kanjari, Taluka Halol, Near Halol, GIDC, District Panchmahal-389350, Gujarat, India |
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Tel. No.: |
91-2676-610800 |
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Fax No.: |
91-2676-610801 |
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Sales Office 2: |
Located At : ·
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Operational Office 2 : |
Also Located At ·
Chakan ·
Kaman ·
Nalagarh ·
Vasai |
DIRECTORS
AS ON: 30.09.2013
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Name : |
Mr. Sharad Madhav Kulkarni |
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Designation : |
Director |
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Address : |
161-A, Twin Towers, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025,
Maharashtra, India |
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Date of Birth/Age : |
09.12.1939 |
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Date of Appointment : |
07.02.1989 |
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DIN No.: |
00003640 |
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Name : |
Mr. Ramesh Deokisandas Chandak |
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Designation : |
Director |
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Address : |
1202 |
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Date of Birth/Age : |
07.11.1946 |
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Date of Appointment : |
18.11.2003 |
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DIN No.: |
00026581 |
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Name : |
Mr. Harsh Vardhan Goenka |
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Designation : |
Director |
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Address : |
14-15 A, IL Palazzo, B.G. Kher Marg, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
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Date of Birth/Age : |
10.12.1957 |
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Date of Appointment : |
07.02.1989 |
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DIN No.: |
00026726 |
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Name : |
Mr. Tony Martin Gatt |
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Designation : |
Director |
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Address : |
Hobbing Foot, |
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Date of Birth/Age : |
31.05.1960 |
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Date of Appointment : |
27.06.2008 |
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DIN No.: |
00052339 |
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Name : |
Mr. Raja Venkataraman |
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Designation : |
Director |
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Address : |
1054,Sobha Carnation,98/1,
Green Glen Layout Near, Sarjapur and Marathalli, Outer Ring Road, Bellandur,
Bangalore – 560103, Karnataka, India |
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Date of Birth/Age : |
08.12.1956 |
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Date of Appointment : |
27.09.2012 |
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DIN No.: |
00669376 |
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Name : |
Mr. Anant Vardhan Goenka |
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Designation : |
Director |
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Address : |
14-15 A, IL Palazzo, B.G. Kher Marg, Mumbai – 400006, |
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Date of Birth/Age : |
19.10.1981 |
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Date of Appointment : |
20.03.2008 |
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DIN No.: |
02089850 |
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Name : |
Mr. Ajit Singh Karan Chouhan |
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Designation : |
Director |
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Address : |
E-4, Amalfi, 5th floor, L.D.
Ruparel Marg, Malabar Hill, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
14.05.1961 |
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Date of Appointment : |
11.09.2008 |
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DIN No.: |
02284557 |
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Name : |
Mr. Jan Alexander Gero Ciliax |
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Designation : |
Director |
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Address : |
Steckgasse 6, |
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Date of Birth/Age : |
14.11.1968 |
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Date of Appointment : |
13.03.2009 |
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DIN No.: |
02607724 |
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Name : |
Mr. Christoph Friedrich Zeyen |
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Designation : |
Director |
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Address : |
Parklaan, |
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Date of Birth/Age : |
17.09.1958 |
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Date of Appointment : |
29.06.2010 |
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DIN No.: |
03128385 |
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Name : |
Mr. Joydeep Nag |
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Designation : |
Director |
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Address : |
D-1203 Brigade Metro, Polis,
White Field Road, Mahadevapura, Bangalore – 560048, Karnataka, India |
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Date of Birth/Age : |
26.10.1963 |
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Date of Appointment : |
20.06.2013 |
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DIN No.: |
01501037 |
KEY EXECUTIVES
|
Name : |
Ms. Sneha Girish Karmarkar |
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Designation : |
Secretary |
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Address : |
14/A, Suyog, S. D. Road,
Mulund (East), Mumbai- 400081, Maharashtra, India |
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Date of Birth/Age : |
11.09.1989 |
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Date of Appointment : |
19.08.2013 |
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PAN No.: |
BGVPK3846C |
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Name : |
Mr. Shankar Patel |
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Designation : |
Assistant manager of finance |
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Name : |
Ms. Ramani Kasi |
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Designation : |
President |
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Date of Birth/Age : |
52 Years |
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Qualification: |
B.E. (Mech), MMM |
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Experience: |
30 Years |
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Date of Appointment : |
05.07.1989 |
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Name : |
Mr. Arun Kumar Goel |
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Designation : |
Senior Vice President |
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Date of Birth/Age : |
56 Years |
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Qualification: |
B.E. (Electrical), MBA (Personnel Management) |
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Experience: |
34 Years |
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Date of Appointment : |
11.06.2008 |
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Name : |
Mr. Amit Bhatia |
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Designation : |
Senior Vice President |
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Name : |
Mr. Deepak Kumar |
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Designation : |
Senior Vice President |
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Name : |
Mr. Deepak Harlalka |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. T Ashokan |
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Designation : |
Head of R and D |
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Name : |
Mr. Himanshu Gupta |
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Designation : |
Regional Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Raychem Internatioanl Manufacturing LLC, USA |
149970 |
|
Sri Parvathi Suthan Trading Company LLP, |
149993 |
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Chattarpati Investments Limited, |
1 |
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Carniwal Investments Limited, |
5 |
|
Swallow Associates LLP, India |
1 |
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TE Connectivity India Private
Limited, India |
20 |
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Tyco Electronics Systems India Private Limited, India |
10 |
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|
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TOTAL |
300000 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
49.99 |
|
Bodies corporate |
50.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and Supplies energy transmission and distribution, transformer, telecommunications, and oil and gas products. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Africa ·
Middle East ·
Austria ·
Germany ·
USA |
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Import : |
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Products : |
Raw Material |
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Countries : |
·
japan |
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Terms : |
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Selling : |
Advance Payment, L/C and Credit |
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Purchasing : |
Advance Payment, L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Low and High Voltage Power Cable
Connection and Termination Systems |
Kits |
1100000 |
* |
|
Telecommunication Cable |
Kits |
1600000 |
* |
|
Connection System and Components |
Pcs. |
NA |
13200000 |
|
Heat Shrinkable Moulded Parts |
Pcs |
NA |
5772384 |
|
Branch of Clips |
Nos. |
NA |
1200 |
|
Transformer (OFT and Dry) up to 33 Kv |
Nos. |
NA |
30000 |
|
Transformer (OFT and Dry) up to 5MVA |
Nos. |
NA |
4200 |
|
Instrument Transformers (CT and PT) Indoor
up to 33 Kv Gas Meter |
Nos. |
NA |
144000 |
|
Transformer Rectifier Units |
Nos. |
NA |
1000 |
|
Energy Meter |
Nos. |
NA |
1350000 |
|
Surge Arrestors |
Nos. |
NA |
400000 |
|
Insulators |
Nos. |
NA |
200000 |
* The precise installed
capacity for the manufacture of Kits/ Systems cannot be determined.
GENERAL INFORMATION
|
Customers : |
Wholesaler, Retailers and End Users ·
Mahanagar Gas ·
Idea ·
NDPL ·
HP ·
Bharat Petroleum ·
ABBs ·
Indiabulls real Estate ·
Reliance Industries Limited ·
Ryco Electronics ·
BSES ·
Indraprastha Gas Limited ·
MTS ·
Vodafone ·
Tulip ·
Airtel ·
Tata Teleservices (Maharashtra) Limited ·
Reliance Communications |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
· State Bank of India, Industrial Finance Branch, World Trade Centre, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai-400021, Maharashtra, India · Yes bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India ·
Standard Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
252, Veer Sawarkar Marg, |
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PAN No.: |
AAEFP3641G |
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Subsidiary Company : |
Raychem RPG
International FZE, United Arab Emirates |
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Enterprises having Joint Control over the Company
: |
·
Raychem International Manufacturing LLC. U.S.A. and
its affiliates: (formerly known as Raychem Radiation Technologies Inc.
U.S.A.) ·
Tyco Electronics Corporation India Private
Limited India CIN No.:
U31909KA1993PTC015007 ·
Tyco Electronics Tools India Private Limited
India ·
TE Connectivity India Private Limited
[U31909KA1993PTC015007] ·
Tyco Electronics Systems India Private Limited
India CIN No.:
U29199KA1995PTC032692 |
|
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|
Sri Parvati Suthan Trading Company LLP and its
affiliates : |
·
Carniwal Investments Limited India CIN No.:
U67120WB1980PLC032902 Universal Industrial Fund Limited India (formerly Hilltop Holdings
India Limited, India) [Upto 28th March, 2012] ·
Chattarpati Investments Limited India ·
RPG Cellular Investments and Holdings Private
Limited India |
CAPITAL STRUCTURE
AS ON: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
300000 |
Preference Shares |
Rs.100/- each |
Rs. 30.000 Millions |
|
|
Total |
|
Rs. 80.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/-
each |
Rs. 30.000
Millions |
|
|
|
|
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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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
1,708.675 |
1,670.702 |
1,519.261 |
|
(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) |
1,738.675 |
1,700.702 |
1,549.261 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
134.000 |
314.048 |
330.532 |
|
(b) Deferred tax liabilities
(Net) |
7.871 |
10.111 |
10.983 |
|
(c) Other long term
liabilities |
164.691 |
226.153 |
234.595 |
|
(d) long-term provisions |
57.513 |
53.692 |
43.203 |
|
Total
Non-current Liabilities (3) |
364.075 |
604.004 |
619.313 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1,148.248 |
1,026.786 |
777.683 |
|
(b) Trade payables |
1,140.283 |
1,248.135 |
1,447.455 |
|
(c) Other current liabilities |
417.815 |
391.459 |
532.810 |
|
(d) Short-term provisions |
102.558 |
61.305 |
4.900 |
|
Total
Current Liabilities (4) |
2,808.904 |
2,727.685 |
2,762.848 |
|
|
|
|
|
|
TOTAL |
4,911.654 |
5,032.391 |
4,931.422 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1,379.490 |
1,256.222 |
1,276.910 |
|
(ii) Intangible Assets |
23.770 |
31.813 |
14.924 |
|
(iii) Capital work-in-progress |
70.703 |
5.151 |
126.326 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
77.413 |
62.505 |
114.316 |
|
(e) Other Non-current assets |
0.000 |
132.468 |
47.825 |
|
Total
Non-Current Assets |
1,551.376 |
1,488.159 |
1,580.301 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
799.048 |
916.636 |
809.227 |
|
(c) Trade receivables |
2,181.539 |
2,170.384 |
2,065.943 |
|
(d) Cash and cash equivalents |
50.359 |
39.805 |
50.041 |
|
(e) Short-term loans and
advances |
328.370 |
414.766 |
425.060 |
|
(f) Other current assets |
0.962 |
2.641 |
0.850 |
|
Total
Current Assets |
3,360.278 |
3,544.232 |
3,351.121 |
|
|
|
|
|
|
TOTAL |
4,911.654 |
5,032.391 |
4,931.422 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
6144.200 |
6379.900 |
5455.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material |
5817.847 |
5937.742 |
5098.602 |
|
|
|
Sub-Contracting Charges |
|
|
|
|
|
|
Financial Expenses |
|
|
|
|
|
|
Operating and Other Expenses |
|
|
|
|
|
|
TOTAL |
5817.847 |
5937.742 |
5098.602 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
326.353 |
442.158 |
357.098 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
152.897 |
152.007 |
130.826 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
173.456 |
290.151 |
226.272 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
47.406 |
86.079 |
2.706 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
126.050 |
204.072 |
223.566 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1299.654 |
1168.289 |
822.284 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
12.605 |
20.407 |
0.000 |
|
|
|
Proposed Dividend |
75.000 |
45.000 |
(105.000) |
|
|
|
Tax on Dividend |
12.746 |
7.300 |
(17.439) |
|
|
BALANCE CARRIED
TO THE B/S |
1325.353 |
1299.654 |
1168.289 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2193.641 |
2091.040 |
1279.783 |
|
|
TOTAL EARNINGS |
2193.641 |
2091.040 |
1279.783 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
822.644 |
|
|
|
Traded Products |
NA |
NA |
200.594 |
|
|
|
Capital Goods |
NA |
NA |
6.986 |
|
|
TOTAL IMPORTS |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
420.17 |
680.24 |
745.22 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
6500.000 |
Expected Sales ( 2014-15 ) : Rs.7000.000 Millions
The above information has been parted by Mr. Himanshu Gupta.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.05 |
3.20 |
4.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.58 |
5.77 |
4.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.17 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.74 |
0.79 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.30 |
1.21 |
FINANCIAL ANALYSIS
[All figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
1519.261 |
1670.702 |
1708.675 |
|
Net
worth |
1,549.261 |
1,700.702 |
1,738.675 |
|
|
|
|
|
|
long-term borrowings |
330.532 |
314.048 |
134.000 |
|
Short term borrowings |
777.683 |
1,026.786 |
1,148.248 |
|
Total
borrowings |
1,108.215 |
1,340.834 |
1,282.248 |
|
Debt/Equity
ratio |
0.715 |
0.788 |
0.737 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
5,455.700 |
6,379.900 |
6,144.200 |
|
|
|
16.940 |
(3.694) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
5,455.700 |
6,379.900 |
6,144.200 |
|
Profit After Tax |
223.566 |
204.072 |
126.050 |
|
|
4.10% |
3.20% |
2.05% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
four 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 |
No |
|
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 |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks unsecured |
234.873 |
226.758 |
|
|
|
|
|
Total |
234.873 |
226.758 |
BACKGROUND
The Company is involved
in engineering products and services catering to the infrastructure industry.
The segments being Transmission and Distribution, Infocom, Corrosion Protection
Group, International Business Division and Transformer. The company has five
manufacturing facilities located at Vasai, Kaman and Chakan in Maharashtra,
Halol in Gujarat and Nalagarh in Himachal Pradesh. The company is a Private
Limited Company.
NOTE
Registered office has been shifted from Ceat Mahal 463, Dr Annie Besant
Road, Worli, Mumbai - 400030, Maharashtra, India to the present address w.e.f.
14.12.2010
OPERATIONS
The Company
achieved total revenues of Rs. 6144.200 millions during the current financial
year ended 31st March 2013 as compared to total revenues of Rs. 6379.900
millions achieved during the previous year. The profits after tax for the
financial year were lower at Rs. 126.000 millions as against the profit after
tax of Rs. 204.100 millions during the previous year mainly as a result of
shortfall in revenues due to slowdown in Industry in general and power sector
in particular, slowdown in Europe and delayed projects and liquidity issues
with customers. The Company has further undertaken several business/marketing
strategies, product portfolio rationalisation, market penetration, business
restructuring and cost reduction initiatives during the current financial year
to improve the profitability.
PERFORMANCE ANALYSIS
The business of
the Transmission and Distribution Division (since been renamed as Energy Products
division) was impacted due to slowdown in Power sector and Liquidity issues
with customers. All the businesses namely CFIP, Cable Accessories and EMIP were
affected due to the abovementioned factors. Further, in line with its strategic
decision to exit the Contracts business, the Company is in the advanced stage
of closure of its existing contracts. During the current fiscal year, the
Company envisages to grow the business by introducing new products and
services, exports, improving market share and adding new customer segments.
The Transformers
business registered a growth of 5% over the previous year with improvement in
overall gross margins. During the year, the division added new industry
segments like Cement, Steel, etc. and new customers with its new product
development initiatives. The division expects substantial increase in business
on the back of good order book, new product developments, commencement of
business in 20 MVA range transformers and focus on exports.
International
Business Division sales were almost flat during the year as a result of overall
slowdown in Europe and order reduction from TE Connectivity in CFIP business.
During the year Export Business Unit (EBU) sales registered a growth of 20% on
account of growth in the existing products as well as introduction of new
products and customers. The growth has been mainly because of the performance
both in terms of the product quality as well as the reliability. The Company
was able to attract business from a host of new customers located around the
globe and in particular African countries like Nigeria and Egypt, as well as in
Southeast Asia like Vietnam and Indonesia.
The
sales of Oil and Gas division (OGD) registered a marginal growth over the
previous year. The CP (Cathodic Protection) business did well despite difficult
market conditions and registered a growth of 28%. The Pipe line business
division sales were lower compared to previous year due to lack of funding and
gas availability. The sales of Gas Meters business were flat during the year.
Further, the Gas Meter business has received orders from Sri lanka, Bangladesh,
UAE, Thailand, etc in respect of smart metering solutions and the efforts are
being made to add new customers in Latin America and Spain. As a strategy, the
OGD division envisages growth by entering into new products and services, focus
on design and development capabilities, localization of components and export
thrust in the coming years.
The
Infocom Division registered a growth of 12% as a result of addition of new
non-telco customers. The division is redefining its strategy by expanding the
product range and diversifying the product portfolio. The division has been
able to maintain the margins due to its product development initiatives in the
competitive market. During the year, the Infocom facility was consolidated from
Kaman location (rented premises) to own premises at Vasai and the operations
were successfully integrated. The division expects to grow in the coming years
by focusing on non-telco segments, new product design and development and
market penetration.
The
Company has since long endeavored to diversify the portfolio of Products and
Services as a vehicle for the growth of its business. Further, the Company has
also chosen the areas of Power Infrastructure and Exports for achieving growth
in the coming years. In line with this strategy, during the financial year
2011, the Company acquired the Energy business of Tyco Electronics Systems
India Private Limited, Bangalure consisting of manufacture and sale of
Connectors, fittings and Insulation Products (CFIP) in overseas and domestic
markets. Further, during the year, the Company also implemented the project for
manufacture of 20MVA and higher range of Transformers along with the existing
range at its facility at Chakan which will place the Company in the league of
manufacturers of hi-tech and niche transformers for speciality applications.
The said new facility has commenced production.
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10481344 |
28/02/2014 |
140,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D, NARIMAN POINT, M |
B97959449 |
|
2 |
10313016 |
29/09/2011 * |
200,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, WORLD TRADE CENTRE, CU |
B23898505 |
|
3 |
90241523 |
17/09/2012 * |
3,164,100,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, WORLD TRADE CENTRE, CU |
B59886507 |
|
4 |
90240771 |
16/03/2005 * |
49,000,000.00 |
STATE BANK OF
INDIA |
IND. FIN BRANCH THE
ARCADE 2ND FLOOR, WORLD TRAD |
- |
|
5 |
90232149 |
29/03/2001 * |
250,000,000.00 |
STATE BANK OF
INDIA |
BACKBAY RECL.
BRANCH, RAHEJA CHAMBERS; NARIMAN PO |
- |
|
6 |
90232114 |
02/02/1999 |
175,000,000.00 |
STATE BANK OF
INDIA |
BACKBAY RECL.
BRANCH, RAHEJA CHAMBERS; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
7 |
90231954 |
08/01/1998 * |
11,000,000.00 |
INDIAN BANK |
UNITED INDIA
BUILDING, SIR PM ROAD, MUMBAI, MAHAR |
- |
|
8 |
90231874 |
18/10/1995 * |
55,000,000.00 |
STATE BANK OF
INDIA |
BACKBAY RECL. BRANCH,
RAHEJA CHAMBERS; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
9 |
90231677 |
08/01/1990 |
11,000,000.00 |
INDIAN BANK |
UNITED INDIA
BUILDING, SIR PM ROAD, MUMBAI, MAHAR |
- |
|
10 |
90231658 |
25/07/1989 |
30,000,000.00 |
STATE BANK OF
INDIA |
BACKBAY RECL.
BRANCH, RAHEJA CHAMBERS; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Vehicles
- Leasehold Improvement
- Software
WEBSITE DETAILS
PRESS RELEASE
TE Connectivity completes Raychem RPG
buy
August 5, 2014
BANGALORE, AUG 5:
TE Connectivity has completed the acquisition of the telecom
business of Raychem RPG, a joint venture company co-owned by TE and RPG
Enterprises.
A company statement said the acquired business will now become
part of TE's Network Solutions segment.
As a part of the acquisition, TE recently inaugurated the new
manufacturing facility in Vasai, Mumbai, which will be the hub for
telecommunication engineering services supplying the fibre market in the
Southeast Asia region, the statement said.
“We aspire to become the market leader in the telecommunications
sector and the acquisition will further strengthen the foundation of our
company,” said KK Shetty, Director, India and SAARC, Network Solutions, TE
India."
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.99 |
|
|
1 |
Rs. 99.10 |
|
Euro |
1 |
Rs. 79.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
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 |
|
66 |
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.