MIRA INFORM REPORT
|
Report No. : |
314870 |
|
Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CABLE CORPORATION OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
Laxmi Building, 6, Shoorji Vallabhdas Marg, 4th Floor, Ballard Estate,
Mumbai – 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.11.1957 |
|
|
|
|
Com. Reg. No.: |
11-010964 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 772.866 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300MH1957PLC010964 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC2936J |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Electrical Cables. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (20) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company possesses a below average financial profile marked by
moderate networth base along with huge accrued payables due to weak liquidity
profile. Management has witnessed a drastic decline in its revenue base as well
as has reported a loss from its operations during FY 14. As per indirect source i.e. Crisil we learned and take into
consideration, the instances of over utilization of cash credit limit,
development of its LCs leading to delays in debt servicing. However, business is active. Payment terms are reported as delayed. In view of experienced management team, the company can be considered
for business dealings on a safe and secured trade terms and conditions. |
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = D |
|
Rating Explanation |
Default or expected to be in default soon. |
|
Date |
January 29, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = D |
|
Rating Explanation |
Default or expected to be in default on
maturity. |
|
Date |
January 29, 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.
LOCATIONS
|
Registered/ Regional Office 1 : |
Laxmi Building, 6, Shoorji Vallabhdas Marg, 4th Floor, Ballard Estate,
Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66144035 |
|
Fax No.: |
91-22-66144113/ 4 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No. F-3/1, M.I.D.C., Sinnar Industrial Area, Malegaon, District: Nashik – 422103, Maharashtra, India |
|
|
|
|
Factory 2 : |
Plot No. F-3/2, M.I.D.C., Sinnar Industrial Area, Malegaon, District Nashik – 422103, Maharashtra, India |
|
Tel. No.: |
91-2551-230697 |
|
|
|
|
Regional Offices : |
Eastern Region Hari Nikunj, 2048 Rajdanga Main Road, 1st Floor, Kolkata – 700107, West Bengal, India Northern Region Milap Niketan, 2nd Floor, 8-A, Bahadur Shah Zafar Marg, New Delhi – 110002, India Southern Region Temple Tower, 7th Floor, 672, Anna Salai, Nandanam,
Chennai – 600035, Tamilnadu, India |
|
|
|
|
Branch Office : |
No. 2506, 10th Main, 'D' Block, 2nd Stage, Rajajinagar, Bangalore – 560010, Karnataka, India |
|
E-Mail : |
DIRECTORS
AS ON 24.09.2014
|
Name : |
Mr. Madhav Mukundrao Digraskar |
|
Designation : |
Managing director |
|
Address : |
Thakkar's Retreat, Building - G, Flat - 1, Old Gangapur Naka, Nashik - 422002, Maharashtra, India |
|
Date of Birth/Age : |
11.01.1957 |
|
Date of Appointment : |
18.01.2013 |
|
DIN No.: |
02372207 |
|
|
|
|
Name : |
Mr. Mukul Shambhukumarji Kasliwal |
|
Designation : |
Director |
|
Address : |
Padam, 4B, G.D. Marg, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1964 |
|
Date of Appointment : |
10.10.2005 |
|
DIN No.: |
00058577 |
|
|
|
|
Name : |
Mr. Hiten Abhay Khatau |
|
Designation : |
Director |
|
Address : |
Khatau Bunglow, 6, Manav Mandir Road, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1958 |
|
Date of Appointment : |
01.10.2006 |
|
PAN No.: |
AABPK4771D |
|
DIN No.: |
00121931 |
|
|
|
|
Name : |
Mrs. Nayna Bharat Pasta |
|
Designation : |
Director |
|
Address : |
8, Shiv Aram, Dr. M.B. Raut Road, Shivaji Park, Mumbai - 400028, Maharashtra, India |
|
Date of Birth/Age : |
22.05.1951 |
|
Date of Appointment : |
27.05.2002 |
|
DIN No.: |
00122396 |
|
|
|
|
Name : |
Mr. Girish Damodar Bhingarkar |
|
Designation : |
Director |
|
Address : |
Maharaja Ashok Cooperative Housing Society Limited, Gandhigram Road, Juhu, Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1950 |
|
Date of Appointment : |
01.02.2002 |
|
DIN No.: |
00256340 |
|
|
|
|
Name : |
Mr. Chakravarthi Sundarashyam |
|
Designation : |
Nominee director |
|
Address : |
202, Sri Anita Apartments, 2-2-20/B/12, D.D. Colony ,Bagh Amberpet, Hyderabad - 500013, Andhra Pradesh, India |
|
Date of Birth/Age : |
02.01.1945 |
|
Date of Appointment : |
01.12.2006 |
|
DIN No.: |
00358052 |
|
|
|
|
Name : |
Mr. Abhijit Datta |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
27A, Tower 4, South City, 375, Prince Anwar Shah Road, Kolkata - 700068, West Bengal, India |
|
Date of Birth/Age : |
01.06.1949 |
|
Date of Appointment : |
31.10.2009 |
|
DIN No.: |
00790029 |
|
|
|
|
Name : |
Mr. Rajiv Shamsherbahadur Saxena |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Block No. 1, Flat 2, Bradys Flats, Sorab Bharucha Road, Colaba, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
30.09.1958 |
|
Date of Appointment : |
31.10.2009 |
|
DIN No.: |
02009018 |
|
|
|
|
Name : |
Mr. Sridharan Rajagopalan |
|
Designation : |
Whole-time director |
|
Address : |
602, Satya Sadan CHS, 295 Bhimani Street, Matunga, Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
22.09.1949 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No.: |
03104140 |
|
|
|
|
Name : |
Mr. Rohan Hitendra Khatau |
|
Designation : |
Director |
|
Address : |
Khatau Bungalow, 6, Manav Mandir Road, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
19.02.1987 |
|
Date of Appointment : |
11.02.2012 |
|
PAN No.: |
AOKPK6871R |
|
DIN No.: |
05191588 |
KEY EXECUTIVES
|
Name : |
Mr. Surendra Khemka |
|
Designation : |
Secretary |
|
Address : |
F1003, Ashoka Garden, T.J. Road, Sewri, Mumbai – 400015, Maharashtra,
India |
|
Date of Birth/Age : |
15.08.1954 |
|
Date of Appointment : |
03.09.2011 |
|
PAN No.: |
ABQPK8304C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2014
NOT AVAILABLE
AS ON 24.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Public financial companies |
2.11 |
|
Mutual funds |
0.01 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
14.17 |
|
Bodies
corporate |
77.33 |
|
Directors
or relatives of directors |
0.86 |
|
Other
top fifty shareholders |
1.54 |
|
Others
|
3.98 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electrical Cables. |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Brand Names : |
-- |
||||
|
|
|
||||
|
Agencies Held : |
-- |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Not Available |
||||
|
Countries : |
Not Available |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Not Available |
||||
|
Countries : |
Not Available |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Available |
||||
|
|
|
||||
|
Purchasing : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
·
Housing Development Finance Corporation
Limited Ramon House, 169, Backbay Reclamation, H T Parekh
Marg, Mumbai - 400020, Maharashtra, India · State Bank of India Commercial Branch, N.G.N Vaidya Marg, Horniman Circle, Fort, Mumbai - 400023, Maharashtra, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sorab S. Engineer and Company Chartered Accountants |
|
Address : |
Ismail Building, 381, Dr. D. N. Road , Fort,
Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22041789 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS5191E |
|
|
|
|
Associates : |
·
Premjyot Finvest and Trading Limited
[U67120MH1992PLC068701] ·
CCI Projects Private Limited
[U70102MH2000PTC128732] ·
Krishabh Trading and Services Private
Limited [U52100MH2010PTC199358] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77,410,000 |
Equity Shares |
Rs. 10/- each |
Rs. 774.100 Millions |
|
14,590,000 |
Preference Shares |
Rs. 10/- each |
Rs. 145.900 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 920.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77,286,550 |
Equity Shares |
Rs. 10/- each |
Rs. 772.866 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 |
772.866 |
772.866 |
772.866 |
|
(b) Reserves & Surplus |
475.200 |
690.500 |
508.700 |
|
(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) |
1248.066 |
1463.366 |
1281.566 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
221.200 |
247.300 |
1296.900 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
10.500 |
14.900 |
12.800 |
|
Total
Non-current Liabilities (3) |
231.700 |
262.200 |
1309.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
717.500 |
535.700 |
614.700 |
|
(b)
Trade payables |
302.700 |
587.700 |
508.700 |
|
(c)
Other current liabilities |
491.334 |
507.634 |
573.634 |
|
(d)
Short-term provisions |
5.200 |
3.700 |
3.200 |
|
Total
Current Liabilities (4) |
1516.734 |
1634.734 |
1700.234 |
|
|
|
|
|
|
TOTAL |
2996.500 |
3360.300 |
4291.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1292.400 |
1418.900 |
1115.500 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
12.700 |
6.700 |
292.700 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
573.500 |
573.500 |
573.500 |
|
(c) Deferred tax assets
(net) |
74.300 |
74.300 |
74.300 |
|
(d) Long-term Loan
and Advances |
166.300 |
168.100 |
180.400 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2119.200 |
2241.500 |
2236.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
134.300 |
196.200 |
252.700 |
|
(c)
Trade receivables |
466.800 |
650.400 |
1463.200 |
|
(d)
Cash and cash equivalents |
104.900 |
124.200 |
136.000 |
|
(e)
Short-term loans and advances |
168.300 |
144.900 |
203.200 |
|
(f)
Other current assets |
3.000 |
3.100 |
0.000 |
|
Total
Current Assets |
877.300 |
1118.800 |
2055.100 |
|
|
|
|
|
|
TOTAL |
2996.500 |
3360.300 |
4291.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1364.600 |
2125.500 |
1894.100 |
|
|
|
Other Income |
13.700 |
13.600 |
33.800 |
|
|
|
TOTAL (A) |
1378.300 |
2139.100 |
1927.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
776.000 |
942.000 |
1136.200 |
|
|
|
Purchases of Stock-in-Trade |
116.400 |
64.300 |
122.900 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
15.000 |
53.300 |
56.300 |
|
|
|
Employees benefits expense |
101.300 |
103.300 |
93.700 |
|
|
|
Other expenses |
297.100 |
362.900 |
277.200 |
|
|
|
TOTAL (B) |
1305.800 |
1525.800 |
1686.300 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
72.500 |
613.300 |
241.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
174.100 |
338.000 |
345.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(101.600) |
275.300 |
(103.700) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
113.700 |
93.500 |
94.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(215.300) |
181.800 |
(198.600) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(215.300) |
181.800 |
(198.700) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
0.000 |
2.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
31.300 |
107.200 |
|
|
|
Stores & Spares |
|
3.900 |
60.900 |
|
|
|
Capital Goods |
|
8.700 |
80.900 |
|
|
TOTAL IMPORTS |
NA
|
43.900 |
249.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.79) |
2.35 |
(2.57) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(15.78) |
8.55 |
(10.49) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.31 |
28.85 |
12.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.22) |
6.72 |
(5.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17) |
0.12 |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.75 |
0.54 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.58 |
0.68 |
1.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
772.866 |
772.866 |
772.866 |
|
Reserves & Surplus |
508.700 |
690.500 |
475.200 |
|
Net
worth |
1281.566 |
1463.366 |
1248.066 |
|
|
|
|
|
|
Long-term borrowings |
1296.900 |
247.300 |
221.200 |
|
Short term borrowings |
614.700 |
535.700 |
717.500 |
|
Total
borrowings |
1911.600 |
783.000 |
938.700 |
|
Debt/Equity
ratio |
1.492 |
0.535 |
0.752 |
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 |
1894.100 |
2125.500 |
1364.600 |
|
|
|
12.217 |
-35.799 |
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 |
1894.100 |
2125.500 |
1364.600 |
|
Profit/ (Loss) |
(198.700) |
181.800 |
(215.300) |
|
|
(10.49%) |
8.55% |
(15.78%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 16.03.2015 |
|
Lodging No: ITXAL/343/2015 Filing Date:
16.03.2015 |
|
Petitioner: PR. COMMISSIONER OF INCOME TAX-2 Respondent: CABLE
CORPORATION OF INDIA LIMITED Petn. Adv : SURESH KUMAR (I2100) District: MUMBAI |
|
Bench: DIVISION Status: Pre-Admission
Category: TAX APPEAL Last Date: 23.03.2015
Stage: Last Coram: REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
Act: Income Tax Act, 1961
UNDER SECTION: 260A |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10557381 |
31/01/2015 |
900,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
N.G.N VAIDYA MARG, HORNIMAN CIRCLE, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
C47908140 |
|
2 |
10529080 |
16/09/2014 |
200,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA |
C32233033 |
|
3 |
10401904 |
02/02/2015 * |
1,850,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169BACKBAY
RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA |
C43608710 |
|
4 |
10294592 |
02/02/2015 * |
1,500,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169BACKBAY
RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA |
C43608363 |
|
5 |
10119300 |
11/07/2008 |
120,000,000.00 |
STATE BANK OF
PATIALA |
COMMERCIAL BRANCH
ATLANTA, NARIMAN POINT, MUMBAI, |
A44493021 |
|
6 |
10035894 |
11/07/2008 * |
270,000,000.00 |
STATE BANK OF
PATIALA |
COMMERCIAL BRANCH
ATLANTA, NARIMAN POINT, MUMBAI, |
A44492650 |
|
7 |
80023750 |
16/10/2014 * |
1,388,500,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
N.G.N VAIDYA MARG, HORNIMAN CIRCLE, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
C35046259 |
|
8 |
90239499 |
30/07/2009 * |
1,838,500,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
N G N VAIDYA, MUMBAI, MAHARASHTRA - 400023, INDIA |
A68221563 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
71.400 |
87.900 |
|
Other loans and advances |
132.500 |
127.200 |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances |
4.800 |
0.000 |
|
|
|
|
|
Total |
208.700 |
215.100 |
OPERATIONS
During
the year the Cable business segment of the Company achieved turnover of Rs
980.000 Millions compared to the turnover of Rs. 1200.000 Millions in the
previous year. The fall in turnover was due to paucity of working capital. Raw
Material prices remained volatile whereas stiff competition impacted EBDITA
margins adversely.
During
the year the income from Real Estate operations amounted to Rs. 332.000
Millions. Industrial relations remained cordial during the year
CURRENT YEAR’S OUTLOOK AND FUTURE PROSPECTS
The
outlook for the current year considering the revival of industries and new projects
being taken up by State and Central Utilities, the cable requirement likely to
go up which is evident from the increase in enquiry bank for both low tension /
high tension and Extra High Voltage cables requirement. Despite of increase in
demand, we see stiff competition in HT/LT business which is putting tremendous
pressure on the margins. In case of HT/LT cables, CCI continues to enjoy the
preferred brand image due to consistent in delivering the high quality
products. In case of Extra High Voltage segment, the company has been competing
with local as well as International players. Company still enjoys the longest
experience in the domestic market in the EHV segment and always the preferred
choice of customers. It is envisaged that Extra High Voltage cable in the
current scenario of the market will go up as most of the State and Central
Utilities in urban area are moving away from overhead transmission due to space
constraints to underground cable transmission network projects. In this case
also, despite of increase in demand, good enquiry bank, they see stiff
competition with local as well as international players. They expect to have
reasonable margin in EHV segment.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Bridges roads ports culverts
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.34 |
|
|
1 |
Rs. 92.64 |
|
Euro |
1 |
Rs. 68.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
20 |
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.