MIRA INFORM REPORT
|
Report No. : |
337747 |
|
Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
CABLE CORPORATION OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
Laxmi Building, 6, Shoorji Vallabhdas Marge, 4th Floor, Ballard
Estate, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-66144000 |
|
|
|
|
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 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300MH1957PLC010964 |
|
|
|
|
IEC No.: |
0388059133 |
|
|
|
|
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. (Not traded on BSE in last 30 days) |
|
|
|
|
Line of Business
: |
Manufacturer of Electrical Cables. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
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. Management has witnessed a drastic decline in its revenue base as well as has reported a loss from its operations during FY 14, which has hampered the reserves position of the company. 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 and weak liquidity profile. 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. (Note: Company has been found under RBI defaulter list. The name of credit grantor is ICICI BANK LIMITED and the amount charged is Rs.50.000 Million. In the year 2002.) |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under :
|
Borrowers’ Name : |
CABLE CORPORATION OF INDIA LIMITED |
|
Address : |
Laxmi Building, 4th floor,6,Shoorji Vallabhdas Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
Name of Individual : |
· D E Udwadia · Hiten A Khatau · Hoshang S Billimoria · M L Bhakta · Maitreya V Doshi · Mrs Krishna Khatau · N H Khatau · U Mahesh Rao · Y C Amin |
|
Name of Credit Grantors / Bank & Branch: |
ICICI Bank Limited, Mumbai |
|
Amount (Rs. In Million) : |
Rs. 50.000 Million |
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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-22-66144035)
LOCATIONS
|
Registered Office/ Western Region : |
Laxmi Building, 6, Shoorji Vallabhdas Marge, 4th Floor, Ballard
Estate, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66144000/ 66144035 |
|
Fax No.: |
91-22-66144113/ 4114 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No. F-3/1, M.I.D.C., Sinnar Industrial Area,
Malegaon, District: Nashik – 422103, Maharashtra, India |
|
Tel. No.: |
91-2551-30328/ 30329/ 30392/ 30056 |
|
Fax No.: |
91-2551-30038 |
|
|
|
|
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 BC-240, Sector-1, Salt Lake City, Kolkatta-700064, West Bengal, India Northern Region Milap Niketan, 2nd Floor, 8-A, Bahadur Shah Zafar Marg, 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 |
DIRECTORS
AS ON 31.03.2014
|
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 |
|
Qualification : |
MBA
in finance. |
|
Expertise in specific functional areas : |
23
years of experience in Corporate business / finance. |
|
Date of Appointment : |
10.10.2005 |
|
DIN No.: |
00058577 |
|
|
|
|
Name : |
Mr. Hiten Abhay Khatau |
|
Designation : |
Chairman |
|
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 |
|
Qualification : |
C.A. |
|
Expertise in specific functional areas : |
Over
32 years experience in finance and taxation. |
|
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 |
|
Qualification : |
B.A.,
DLW, LLM |
|
Expertise in specific functional areas : |
Over 44 years experience in
industrial relations, human resource and labour management |
|
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 |
|
Qualification : |
M.A.
(Economics), CAI.I.B. |
|
Expertise in specific functional areas : |
Over
45 years of experience in Banking and Finance |
|
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 31.03.2014
|
Names of Shareholders |
No. of Shares |
|
Future
Deal Properties Private Limited |
40057400 |
|
Viscose
Holdings Limited |
11039684 |
|
Great
View Properties Private Limited |
19449620 |
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 : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India ·
United Bank of India · State Bank of Patiala ·
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 |
|
|
|
|
Solicitors |
Kanga
and Company |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
·
Premjyot Finvest and Trading Limited
[U67120MH1992PLC068701] ·
CCI Projects Private Limited
[U70102MH2000PTC128732] ·
Krishabh Trading and Services Private
Limited [U52100MH2010PTC199358] |
|
|
|
|
Companies / Entities with which transactions
have taken place during the year: |
·
Premjyot Finvest and Trading Limited ·
CCI Projects Private Limited ·
Krishabh Trading and Services Private Limited |
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 Million |
|
14,590,000 |
Preference Shares |
Rs. 10/- each |
Rs. 145.900 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 920.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77,286,550 |
Equity Shares |
Rs. 10/- each |
Rs. 772.866 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
|
|
|
|
|
|
|
Income |
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 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(215.300) |
181.800 |
(198.600) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
9.300 |
0.000 |
2.000 |
|
|
TOTAL EARNINGS |
9.300 |
0.000 |
2.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
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) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
60.700 |
238.500 |
279.200 |
|
|
|
|
|
|
Cash Generated from Operations |
17.600 |
1621.100 |
314.600 |
|
|
|
|
|
|
Net
Cash From Operating Activities |
15.500 |
1619.100 |
307.800 |
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 Liability/Networth) |
|
0.80 |
0.70 |
1.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.58 |
0.68 |
1.21 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
772.866 |
772.866 |
772.866 |
|
Reserves & Surplus |
508.700 |
690.500 |
475.200 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
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 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
279.200 |
238.500 |
60.700 |
|
Total
borrowings |
2190.800 |
1021.500 |
999.400 |
|
Debt/Equity
ratio |
1.709 |
0.698 |
0.801 |
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 |
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 Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1894.100 |
2125.500 |
1364.600 |
|
Profit |
(198.600) |
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 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
HIGH
COURT OF BOMBAY
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 16.03.2015 |
|||||||
|
Lodging No:- |
ITXAL/343/2015 |
Filing Date:- |
16.03.2015 |
Reg. No.:- |
ITXAL/469/2015 |
Reg. Date:- |
11/05/2015 |
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX-2 |
Respondent:- |
CABLE
CORPORATION OF INDIA LIMITED |
||||
|
Petn. Adv.: |
SURESH KUMAR (I2100) |
Resp. Adv |
Kanga and
Company (246) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
||||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
||||
|
Next Date:- |
31/08/2015 |
Stage:- |
|
||||
|
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
|||||
|
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 |
10584200 |
13/07/2015 |
70,000,000.00 |
STATE BANK OF PATIALA |
ATLANTA, 1ST FLOOR,
JAMNALAL BAJAJ MARG, NARIMAN |
C60896941 |
|
2 |
10557381 |
31/01/2015 |
900,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
N.G.N VAIDYA MARG, HORNIMAN CI |
C47908140 |
|
3 |
10529080 |
16/09/2014 |
200,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
C32233033 |
|
4 |
10401904 |
11/02/2015 * |
2,350,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
C52617123 |
|
5 |
10294592 |
11/02/2015 * |
2,000,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
C52616018 |
|
6 |
10119300 |
11/07/2008 |
120,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH
ATLANTA, NARIMAN POINT, MUMBAI- 400023, |
A44493021 |
|
7 |
10035894 |
11/07/2008 * |
270,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH
ATLANTA, NARIMAN POINT, MUMBAI- 400023, |
A44492650 |
|
8 |
80023750 |
16/10/2014 * |
1,388,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
N.G.N VAIDYA MARG, HORNIMAN CI |
C35046259 |
|
9 |
90239499 |
30/07/2009 * |
1,838,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
N G N VAIDYA, MUMBAI- 400023, MAHARASH |
A68221563 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
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 Million compared to the turnover of Rs. 1200.000 Million 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
Million. 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. 65.24 |
|
|
1 |
Rs. 102.21 |
|
Euro |
1 |
Rs. 72.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
YES |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
15 |
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.