MIRA INFORM REPORT
|
Report No. : |
316889 |
|
Report Date : |
16.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
B.C. POWER CONTROLS LIMITED |
|
|
|
|
Registered
Office : |
7A/39, Wea Channa Market, Karol Bagh, New Delhi – 110005 |
|
Tel No.: |
91-11-47532795 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.06.2008 |
|
|
|
|
Com. Reg. No.: |
55-179414 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 117.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300DL2008PLC179414 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Subject is engaged in manufacturing & selling of Insulated
Cables and Copper Wires as well as trading of Copper Scrap |
|
|
|
|
No. of Employees
: |
Information Decline By the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has reported low profitability during the financial year
2013-14. Further, reserves seem to be low. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 – BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
April 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating – A4+ |
|
Rating Explanation |
Minimal Degree of Safety Very high credit risk |
|
Date |
April 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
|
Name : |
Mr. Naveen |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9540007421 |
|
Date : |
13.04.2015 |
LOCATIONS
|
Registered Office : |
7A/39, Wea Channa Market, Karol Bagh, New Delhi – 110005, India |
|
Tel. No.: |
91-11-47532795 |
|
Mobile No.: |
91-9540007421 (Mr. Naveen) |
|
Fax No.: |
91-11-47532798 |
|
E-Mail : |
|
|
Website: |
|
|
Location : |
Rented |
|
|
|
|
Marketing
Office: |
1839/1, 1st Floor, Bhagirath Palace, Chandini Chowk, New
Delhi- 110006, India |
|
Phone No.: |
91-11-23873440, 11-23865440 |
|
E-Mail : |
|
|
|
|
|
Overseas Office: |
23B, Orimolade Estate, Orimolade Crescent, IKEJA, Lagos, Nigeria |
|
Tel No/Mobile No.: |
+234-8077139210, +234-8191113784 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
E-424, Riico Industrial Area, District – Alwar, Rajasthan, India |
|
Tel. No.: |
91-9667573810, 9540007420 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
G1/663, Phase – 1, Riico Industrial Area, Bhiwadi, Rajasthan, India |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Arun Kumar Jain |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00438324 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajat Jain |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00438444 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Praveen Kumar Aggarwal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Independent Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Surender Pal Singh Chauhan |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Independent Directoe |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
KEY MANAGERIAL
PERSONNEL: |
|
|
|
|
|
AUDIT COMMITTEE: |
|
|
|
|
|
SHAREHOLDER
GRIEVANCE COMMITTEE: |
|
|
|
|
|
NOMINATION &
REMUNERATION COMMITTEE: |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding
as a % of Total No. of Shares |
|
As a % of (A+B) |
||
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
2946000 |
25.05 |
|
|
3054000 |
25.97 |
|
|
6000000 |
51.02 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
6000000 |
51.02 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
136000 |
1.16 |
|
|
136000 |
1.16 |
|
|
|
|
|
|
88000 |
0.75 |
|
|
|
|
|
|
360000 |
3.06 |
|
|
5176000 |
44.01 |
|
|
5624000 |
47.82 |
|
Total Public
shareholding (B) |
5760000 |
48.98 |
|
Total (A)+(B) |
11760000 |
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) |
11760000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in manufacturing & selling of
Insulated Cables and Copper Wires as well as trading of Copper Scrap |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Cable Wires |
|
Countries : |
Nigeria |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Cheque and Credit |
|
|
|
|
Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
Manufacturer
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
Information Decline By the Management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Notes:
|
|
Auditors : |
|
|
Name : |
K. P Garg and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
Not Available |
|
|
|
|
Related Party ( Common Control Associates) : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs.140.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11760000 |
Equity Shares |
Rs.10/- each |
Rs.117.600
Million |
|
|
|
|
|
Notes:
40, 00,000 equity shares @ Rs.10/- each were allotted as bonus shares in the current year by way of Capitalization of Securities Premium and Reserves Account.
57,60,000 equity shares were issued at premium of Rs 8/- each amounting to Rs.46,080,000/- and Share capital raised by Rs 5, 76, 00,000/ by issuing share @ Rs 10 each.
Reconciliation of number of shares outstanding at the beginning and at
the end of the year
|
EQUITY SHARES |
AS AT 31.03.2014 |
AS AT 31.03.2013 |
||
|
|
No. of Shares |
(Rs. In Million) |
No. of Shares |
(Rs. In Million) |
|
At the beginning of the year |
2000000 |
20.000 |
2000000 |
20.000 |
|
Add: Issued during the year |
9760000 |
97.600 |
000 |
0.000 |
|
|
|
|
|
|
|
Outstanding at the end of the year |
11760000 |
117.600 |
2000000 |
20.000 |
Details of
Shareholders holding more than 5% Equity Shares in the Company #
|
NAME OF SHAREHOLDER |
AS AT 31.03.2014 |
AS AT 31.03.2013 |
||
|
|
No. of Shares |
% Holding |
No. of Shares |
% Holding |
|
Equity Shares of R10/- each |
|
|
|
|
|
1. Arun Kumar Jain |
1533000 |
13.04% |
511000 |
25.55% |
|
2. Harshit Promoters Private Limited |
1356000 |
11.53% |
452000 |
22.60% |
|
3. Vinco Metals Private Limited |
1224000 |
10.41% |
408000 |
20.40% |
|
4. Harshit Jain |
978000 |
8.32% |
326000 |
16.30% |
# As per the of the Company,
including its register of members.
Terms/rights attached
to Equity Shares
The Company has only one class of shares referred to as equity shares having a par value of R10/- per share.
Each holder of equity shares is entitled to one vote per share. All shares rank pari passu in all respects including voting rights and entitlement to dividend
As per the Companies Act, 1956, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts in the event of liquidation of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
117.600 |
20.000 |
|
(b) Reserves &
Surplus |
89.288 |
82.950 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
206.888 |
102.950 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
0.000 |
27.520 |
|
(b) Deferred tax
liabilities (Net) |
0.414 |
0.365 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.414 |
27.885 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
306.586 |
191.404 |
|
(b) Trade payables |
426.023 |
451.162 |
|
(c) Other current
liabilities |
2.026 |
2.600 |
|
(d) Short-term provisions |
0.248 |
1.016 |
|
Total Current Liabilities
(4) |
734.883 |
646.182 |
|
|
|
|
|
TOTAL |
942.185 |
777.017 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
50.984 |
54.516 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
|
(b) Non-current
Investments |
30.220 |
29.720 |
|
(c) Deferred tax assets
(net) |
0.000 |
|
|
(d) Long-term Loan and Advances |
2.327 |
0.800 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
|
Total Non-Current Assets |
83.531 |
85.036 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
96.692 |
91.814 |
|
(c) Trade receivables |
629.494 |
510.606 |
|
(d) Cash and cash
equivalents |
1.086 |
19.912 |
|
(e) Short-term loans and
advances |
85.911 |
69.338 |
|
(f) Other current assets |
45.471 |
0.311 |
|
Total Current Assets |
858.654 |
691.981 |
|
|
|
|
|
TOTAL |
942.185 |
777.017 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
|
SHAREHOLDERS FUNDS |
|
|
1] Share Capital |
20.000 |
|
2] Share Application Money |
0.000 |
|
3] Reserves & Surplus |
79.700 |
|
|
|
|
NETWORTH |
99.700 |
|
|
|
|
LOAN FUNDS |
|
|
1] Secured Loans |
26.500 |
|
2] Unsecured Loans |
16.600 |
|
TOTAL Debt |
43.100 |
|
DEFERRED TAX LIABILITIES |
0.000 |
|
|
|
|
Total
Liabilities |
142.800 |
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
Gross Block |
62.600 |
|
Less: Revaluation Reserves |
0.000 |
|
Less Accumulated. Depreciation |
05.800 |
|
Net Block |
56.800 |
|
|
|
|
Investment |
30.000 |
|
|
|
|
Inventories |
137.100
|
|
Sundry Debtors |
27.800
|
|
Cash & Bank Balances |
02.200
|
|
Total Current
Assets |
167.100
|
|
|
|
|
Loans and Advances |
61.600
|
|
Fixed Deposits |
0.000
|
|
Total CA, Loans and Advances |
228.700
|
|
|
|
|
Deffered Credit |
0.000
|
|
Current Liabilities |
171.400
|
|
Provisions |
1.400
|
|
Total
Current Liabilities and Provision |
172.800
|
|
|
|
|
Non-current
Assets |
55.900
|
|
|
|
|
Miscellaneous
Expenses |
0.000 |
|
|
|
|
Total Assets |
142.700 |
|
|
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1528.315 |
1035.812 |
1036.300 |
|
|
Other Income |
4.502 |
4.403 |
1.100 |
|
|
TOTAL (A) |
1532.817 |
1040.215 |
1037.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
711.854 |
578.765 |
|
|
|
Purchases of
Stock-in-Trade |
786.378 |
412.099 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
-40.980 |
3.235 |
1027.100 |
|
|
Employees benefits
expense |
6.386 |
8.228 |
|
|
|
Other expenses |
42.822 |
17.657 |
|
|
|
TOTAL (B) |
1506.460 |
1019.984 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
26.357 |
20.231 |
10.300 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
13.504 |
8.825 |
0.500 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
12.853 |
11.406 |
9.800 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.283 |
5.955 |
04.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
7.570 |
5.451 |
05.600 |
|
|
|
|
|
|
|
Less |
TAX (I) |
2.345 |
2.219 |
01.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
5.225 |
3.232 |
03.900 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
|
a) Basic |
0.81 |
1.62 |
1.93 |
|
|
b) Diluted |
0.44 |
1.62 |
1.93 |
|
|
|
|
|
|
|
|
Weighted Average of
Equity Shares |
6480000 |
2000000 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.34 |
0.31 |
0.38 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.72 |
1.95 |
0.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.83 |
0.73 |
0.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.05 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.48 |
2.13 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.07 |
0.97 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
20.000 |
20.000 |
117.600 |
|
Reserves & Surplus |
79.700 |
82.950 |
89.288 |
|
Net worth |
99.700 |
102.950 |
206.888 |
|
|
|
|
|
|
long-term borrowings |
26.500 |
27.520 |
0.000 |
|
Short term borrowings |
16.600 |
191.404 |
306.586 |
|
Total borrowings |
43.100 |
218.924 |
306.586 |
|
Debt/Equity ratio |
0.432 |
2.127 |
1.482 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1036.300 |
1035.812 |
1528.315 |
|
|
|
(0.047) |
47.548 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1036.300 |
1035.812 |
1528.315 |
|
Profit |
3.900 |
3.232 |
5.225 |
|
|
0.38% |
0.31% |
0.34% |
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 |
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 |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
CORPORATE INFORMATION
B.C.POWER CONTROLS PRIVATE LIMITED (the “Company”) was a private
limited company domiciled in India and incorporated under the provisions of the
Companies Act 1956. But recently, it has been converted to public limited
company and has raised its share capital by public issue. The company is
engaged in manufacturing & selling of Insulated Cables and Copper Wires as
well as trading of Copper Scrap. The company caters to domestic market and
sells goods to exporter as well. The Company’s registered office is in New
Delhi and Manufacturing Unit at Bhiwadi
PERFORMANCE REVIEW:
The company achieved an all-time high performance both in turnover and its profits. The Gross revenues touched Rs. 1532.800 Million and the Profit after taxes recorded was Rs. 5.225 Million. The company coupled high level of modernization with, concentrated efforts of both Management and employees, the whole hearted support of Banks, suppliers and customers to attain these levels of performance.
FUTURE PROSPECTS:
Despite stiff competition in market, the buyers show preference to your company’s product for its quality and timely delivery and hence your Directors are confident of achieving better working results in the coming years.
MANAGEMENT DISCUSSION
AND ANALYSIS
OVERALL REVIEW OF OPERATIONS:
The company is in the business of Manufacturing and Trading of Electric Items (Wires & Cables). The Company achieved a turnover of Rs.1528.300 Million. The operational profits have improved on account of optimizing all the operations of the company.
OUTLOOK:
The company is taking all efforts to improve the quality of its products to get more orders at competitive rates. Due to bulk orders and bargain power Company is able to quote better rates and maintain high quality & productivity of the products traded. Barring unforeseen circumstances the company is confident of achieving better results in the current year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Directors |
0.000 |
5.550 |
|
From Friends & Relatives |
0.000 |
6.532 |
|
Inter Corporate Loans |
0.000 |
15.437 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Overuse Overdraft Account from BOI-600027110000036 |
0.000 |
5.599 |
|
Overdraft in Current Account |
0.000 |
0.000 |
|
Inter-Corporate Loans-Vinco Metals Pvt Ltd |
1.538 |
0.000 |
|
Total |
1.538 |
33.118 |
Notes:
Unsecured loans is repayable on demand and carries interest
@5.50% p.a.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10396793 |
21/12/2012 |
230,000,000.00 |
Bank of India |
Janpath Branch, 66, Janpath, New Delhi, Delhi -110001, INDIA |
B65811788 |
|
2 |
10396794 |
21/12/2012 |
230,000,000.00 |
Bank of India |
Janpath Branch, 66, Janpath, New Delhi, Delhi -110001, INDIA |
B65812000 |
|
3 |
10320705 |
24/09/2013 * |
82,500,000.00 |
Bank of India |
Janpath Branch, 66, Janpath, New Delhi, Delhi -110001, INDIA |
B87366738 |
|
4 |
10320699 |
11/11/2011 |
97,500,000.00 |
Bank Of India |
Janpath Branch, 66 , Janpath, New Delhi, Delhi -110001, INDIA |
B26635649 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Factory Land #
- Building
- Plant & Machinery
- Electric Installation
- Furniture & Fixture
- Testing Equipment’s
- Transformer
- Weighing Scale
- Trade Mark
- Air Conditioner
- Vehicles
- Mobile hand sets
- LCD
- Tools
- Water Tank
- Camera
- Closer Machine
- Crane D.G.
- Set Signboard
- Telephone
- Water Cooler
- UPS
- Fridge TV
- Computer
- Motor Cycle
- Gyser
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.62.40 |
|
|
1 |
Rs.92.15 |
|
Euro |
1 |
Rs.66.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.