MIRA INFORM REPORT

 

 

Report No. :

338015

Report Date :

24.08.2015

 

 IDENTIFICATION DETAILS

 

Name :

GEMSCAB INDUSTRIES LIMITED

 

 

Registered Office :

44, 2nd Floor, Shardhanand Marg, New Delhi – 110006

Tel. No.:

91-11-23215251

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.10.1994

 

 

Com. Reg. No.:

55-062461

 

 

Capital Investment / Paid-up Capital :

Rs.121.000 Million

 

 

CIN No.:

[Company Identification No.]

U74899DL1994PLC062461

 

 

IEC No.:

0502033487

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELG06096G

 

 

PAN No.:

[Permanent Account No.]

AAACG5260H

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The company is engaged mainly in the business of manufacturing of cables.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behavior :

Slow but correct

 

 

Litigation :

Clear 

 

 

Comments :

Gemscab Industries Limited was incorporated in 1994, promoted by Delhi-based Mr. S K Gupta. The company manufactures high-tension aluminium cables and low-tension power, control, and instruments cables. It is established company having satisfactory track record.

 

The rating on company reflect the extensive experience of its promoters in the aluminium and copper electrical cables industry, and its established relationship with customers and suppliers.

 

The rating also factor in the company’s above-average financial risk profile, marked by a moderate capital structure and healthy networth, and adequate funding support from its promoters.

 

These rating strengths are partially offset due to susceptibility of its profit margin to fluctuations in raw material price resulting low-financial risk profile, and decline in its revenue and profitability in FY-2014.

 

However, trade relations are reported as fair. Business is active. Payment terms are slow but correct.

 

The company can be considered normal for business dealing at its 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 – 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

 

NOT AVAILABLE

 

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 31-03-2013.

 

INFORMATION DENIED BY

 

Name :

Mr. M.T. Singh

Designation :

Accounts Department

Contact No.:

91-11-42151572

Date :

21.08.2015

 

 

LOCATIONS

 

Registered Office :

44, 2nd Floor, Shardhanand Marg, New Delhi – 110006, India

Tel. No.:

91-11-23215251

Fax No.:

Not Available

E-Mail :

gemscab@vsnl.com

 

 

Marketing Office / Delhi Works :

40 Rajasthani Udyog Nagar, G.T. Karnal Road, New Delhi - 110033, India

Tel. No.:

91-11-42151572

Fax No.:

91-11-45136501

 

 

Bhiwadi Works (Unit I):

Plot No. SP-1192 L and K, Phase-IV, RIICO Industrial Area, Bhiwadi, District Alwar - 301019, Rajasthan, India

Tel. No.:

91-1493-224815 / 645143 / 645144

Fax No.:

91-1493-222752

E-Mail :

bhiwadi@gemscab.com

 

 

Bhiwadi Works (Unit II):

Plot No. SP-4-868/869, RIICO Industrial Area, Pathredi (Near Bhiwadi) P.O. Tapukara, Alwar – 301707, Rajasthan, India

Tel. No.:

91-1493-260373 / 260374 / 641091

Fax No.:

Not Available

E-Mail :

pathredi@gemscab.com

 

 

Branches :

Located At :

 

  • Mumbai
  • Chennai
  • Kolkata
  • Bangalore
  • Coimbatore
  • Ahmedabad
  • Hyderabad
  • Jaipur
  • Chandigarh
  • Dehradun

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Tushar Agarwal

Designation :

Director

Address :

B-26, South Extn-II, New Delhi - 110049, India

Date of Appointment :

11.11.2014

DIN No.:

00024953

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U65990DL1992PLC049545

AGROY FINANCE AND INVESTMENT LIMITED

Managing director

29/09/2011

02/09/1993

-

Active

NO

2

U80302DL1998PTC096168

Pink Spirits Private Limited

Director

25/09/2000

25/09/2000

-

Active

NO

3

U74899DL1995PTC064343

K M HOLDINGS PRIVATE LIMITED

Director

11/03/2002

11/03/2002

-

Active

NO

4

U51109DL2006PTC154632

AGROY COMMODITIES PRIVATE LIMITED.

Director

05/10/2006

05/10/2006

-

Active

NO

5

U51909DL2007PTC158826

AYMAN OVERSEAS PRIVATE LIMITED

Director

05/02/2007

05/02/2007

-

Active

NO

6

U72200DL2008PTC184023

SAJAN INDIA SOFTWARE PRIVATE LIMITED

Director

02/03/2015

03/02/2014

-

Active

NO

7

U74899DL1994PLC062461

GEMSCAB INDUSTRIES LIMITED

Director

11/11/2014

11/11/2014

-

Active

NO

 

 

Name :

Mr. Shashi Kant Gupta

Designation :

Managing Director

Address :

C-18, Panchsheel Enclave, New Delhi - 110017, India

Date of Birth/Age :

25.01.1949

Date of Appointment :

26.11.2011

Election Commission Identity Card No. (if issued)

DL/02/008/222563

DIN No.:

00195841

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1975PTC138739

GUPTA ELECTRICAL INDUSTRIES PRIVATE LIMITED

Director

10/03/1975

10/03/1975

-

Active

NO

2

U74899DL1986PTC024168

DAFODILS ELECTRICALS PRIVATE LIMITED

Director

08/05/1986

08/05/1986

-

Active

NO

3

U74899DL1994PLC058567

GEMSCAB CABLES LIMITED

Director

22/04/1994

22/04/1994

-

Active

NO

4

U74899DL1994PLC062461

GEMSCAB INDUSTRIES LIMITED

Managing director

26/11/2011

17/10/1997

-

Active

NO

 

 

Name :

Mr. Kunal Gupta

Designation :

Whole-Time Director

Address :

C-18, Panchsheel Enclave, New Delhi - 110017, India

Date of Birth/Age :

23.04.1977

Election Commission Identity Card No. (if issued)

DL/02/008/222820

Date of Appointment :

01.04.2012

DIN No.:

00195892

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1994PLC062461

GEMSCAB INDUSTRIES LIMITED

Whole-time director

01/04/2012

28/04/2000

-

Active

NO

2

U74899DL1975PTC138739

GUPTA ELECTRICAL INDUSTRIES PRIVATE LIMITED

Director

15/11/2005

15/11/2005

-

Active

NO

 

 

Name :

Mr. Ghanshyam Das Keyal

Designation :

Whole-Time Director

Address :

A-1/100-101,, Sector-4,Rohini, New Delhi - 110085, India

Date of Birth/Age :

30.08.1944

Election Commission Identity Card No. (if issued)

LPY0863688

Date of Appointment :

22.04.1994

DIN No.:

00196068

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1994PLC058567

GEMSCAB CABLES LIMITED

Director

22/04/1994

22/04/1994

-

Active

NO

2

U74899DL1994PLC062461

GEMSCAB INDUSTRIES LIMITED

Whole-time director

17/10/1997

17/10/1997

-

Active

NO

 

 

Name :

Mr. Ravi Kumar Baid

Designation :

Director

Address :

W-151, Greater Kailash - II, New Delhi - 110048, India

Date of Appointment :

11.11.2014

DIN No.:

01118557

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1994PTC062725

ALLIANCE E-COM (INDIA) PRIVATE LIMITED

Director

15/11/1994

15/11/1994

-

Active

NO

2

U51909DL1997PTC088267

ALLIANCE INFOTECH PRIVATE LIMITED

Director

01/07/1997

01/07/1997

-

Active

NO

3

U72200DL2008PTC184023

SAJAN INDIA SOFTWARE PRIVATE LIMITED

Director

28/09/2012

01/07/2011

-

Active

NO

4

U74900DL2012PTC241200

XSEED VENTURES PRIVATE LIMITED

Director

28/08/2012

28/08/2012

-

Active

NO

5

U85100DL2013PTC249274

CREDI HEALTH PRIVATE LIMITED

Director

20/05/2013

20/05/2013

26/09/2013

Active

NO

6

U74899DL1994PLC062461

GEMSCAB INDUSTRIES LIMITED

Director

11/11/2014

11/11/2014

-

Active

NO

 

KEY EXECUTIVES

 

Name :

Mr. M.T. Singh

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

SHAREHOLDING FILE ATTACHED

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Bodies corporate

33.16

Directors or relatives of Directors

54.71

Other top fifty shareholders

12.13

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The company is engaged mainly in the business of manufacturing of cables.

 

 

Products :
  • HT XLPE Power Cables
  • LT XLPE / PVC Power Cables
  • LT Control Cables
  • Flexible Wires and Cables
  • Instrumentation Cables

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

State Bank of India

Branch

Commercial Branch, M-47, Connaught Circus, New Delhi – 110001, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loans from banks

167.980

200.650

Rupee term loans from others

13.982

18.300

Short-term borrowings

 

 

Loans repayable on demand

494.268

512.867

 

 

 

Total

676.230

731.817

 

Auditors :

 

Name :

R.D. Garg and Company

Chartered Accountants

Address :

20 Ansari Road, Darya Ganj, New Delhi-110002, India

PAN. No.:

AAJPG4539P

 

 

Memberships :

-----

 

 

Collaborators :

-----

 

 

Associate :
  • Gemscab Cables Limited [U74899DL1994PLC058567]

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15,000,000

Equity Shares

Rs.10/- each

Rs. 150.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

12,100,000

Equity Shares

Rs.10/- each

Rs. 121.000 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

121.000

121.000

121.000

(b) Reserves & Surplus

405.968

404.596

370.739

(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)

526.968

525.596

491.739

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

181.962

230.402

187.475

(b) Deferred tax liabilities (Net)

88.763

87.837

71.658

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

270.725

318.239

259.133

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

554.998

581.298

558.640

(b) Trade payables

431.411

363.519

358.277

(c) Other current liabilities

9.307

9.121

13.396

(d) Short-term provisions

26.817

36.443

38.038

Total Current Liabilities (4)

1022.533

990.381

968.351

 

 

 

 

TOTAL

1820.226

1834.216

1719.223

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

666.200

695.076

691.438

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(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

5.681

8.501

11.894

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

671.881

703.577

703.332

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

392.265

322.628

319.809

(c) Trade receivables

623.151

702.136

608.938

(d) Cash and cash equivalents

40.562

47.487

40.881

(e) Short-term loans and advances

92.367

58.388

46.263

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

1148.345

1130.639

1015.891

 

 

 

 

TOTAL

1820.226

1834.216

1719.223

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

2081.377

2156.826

1979.669

 

Other Income

7.292

6.742

5.196

 

TOTAL

2088.669

2163.568

1984.865

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1770.263

1780.398

1672.996

 

Purchases of Stock-in-Trade

0.000

0.000

0.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(36.095)

(4.674)

(43.378)

 

Employees benefits expense

61.568

55.232

41.965

 

Other expenses

156.232

152.779

124.126

 

TOTAL

1951.968

1983.735

1795.709

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION 

136.701

179.833

189.156

 

 

 

 

 

Less

FINANCIAL EXPENSES

99.782

95.441

98.908

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

36.919

84.392

90.248

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

34.620

34.302

34.156

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2.299

50.090

56.092

 

 

 

 

 

Less

TAX

0.926

16.234

21.766

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1.373

33.856

34.326

 

 

 

 

 

 

Balance Carried to the B/S

1.373

33.856

34.326

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

3.280

8.136

9.006

TOTAL EARNINGS

3.280

8.136

9.006

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.11

2.80

2.84

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

73.754

(21.264)

NA

Net cash flows from (used in) operating activities

67.046

(26.373)

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.07

1.57

1.73

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

6.57

8.34

9.55

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.13

2.73

3.26

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.00

0.10

0.11

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.40

1.54

1.52

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.12

1.14

1.05

 

 

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

121.000

121.000

121.000

Reserves & Surplus

370.739

404.596

405.968

Net worth

491.739

525.596

526.968

 

 

 

 

long-term borrowings

187.475

230.402

181.962

Short term borrowings

558.640

581.298

554.998

Total borrowings

746.115

811.700

736.960

Debt/Equity ratio

1.517

1.544

1.398

 

 

 

 

 

 

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

1979.669

2156.826

2081.377

 

 

8.949

(3.498)

 

 

 

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

1979.669

2156.826

2081.377

Profit

34.326

33.856

1.373

 

1.73%

1.57%

0.07%

 

 

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

Yes

9

Promoter’s background

N

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

Yes

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

Yes

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

No

32

Litigations that the firm/promoter involved in

---

33

Market information

---

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term borrowing

 

 

Deferred payment liabilities

0.000

11.452

Short-term borrowing

 

 

Deposits from others

20.000

20.000

Loans and advances from related parties

40.730

48.431

Total

60.730

79.883

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10151667

09/04/2009

190,000,000.00

BARCLAYS BANK PLC

EROS CORPORATE TOWERS, NEHRU PLACE, NEW DELHI-19, 
NEW DELHI, DELHI - 110019, INDIA

A60398377

2

10099732

16/04/2009 *

230,000,000.00

BARCLAYS BANK PLC

EROS CORPORATE TOWERS, NEHRU PLACE, NEW DELHI-19, 
NEW DELHI, DELHI - 110019, INDIA

A60398039

3

10075479

05/01/2010 *

896,400,000.00

STATE BANK OF INDIA

MID-CORPORATE LOAN ADMINISTRATION UNIT, SECOND FL 
OOR CHANDNI CHOWK, DELHI, DELHI - 110006, INDIA

A78025673

4

10024096

05/01/2010 *

896,400,000.00

STATE BANK OF INDIA

MID-CORPORATE LOAN ADMINISTRATION UNIT, SECOND FL 
OOR CHANDNI CHOWK, DELHI, DELHI - 110006, INDIA

A78025657

5

10001068

30/01/2013 *

1,074,100,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, M-47, CONNAUGHT CIRCUS,, NEW D 
ELHI, DELHI - 110001, INDIA

B68616820

6

80000786

05/01/2010 *

896,400,000.00

STATE BANK OF INDIA

MID-CORPORATE LOAN ADMINISTRATION UNIT, SECOND FL 
OOR CHANDNI CHOWK, DELHI, DELHI - 110006, INDIA

A78025699

7

80000787

05/01/2010 *

896,400,000.00

STATE BANK OF INDIA

MID-CORPORATE LOAN ADMINISTRATION UNIT, SECOND FL 
OOR CHANDNI CHOWK, DELHI, DELHI - 110006, INDIA

A78025715

 

* Date of charge modification

 

FINANCIAL REVIEW

 

The Sales of the Company during the year 2013-14 have been decreased from the last year. Gross Profit is reduced from Rs. 50.100 Million to Rs.2.300 Million due to the following reasons:

 

Continuation of Economic Slowdown particularly with the implementation of Infrastructural Projects.

 

Generation of Suzlon 1.25 MW WTG situated at Village Hanswa, Jaisalmer was suffered for entire Financial Year 2013-14 due to the repeated theft occurred since May 2013, which was restored only in the month of May 2014, thereby, Revenue loss was to the tune of around Rs. 7.500 Million.

 

Profitability was also affected with the higher rate of interest charged by the bank for Corporate Loan.

 

Rate of Interest charged on Cash Credit Account is on higher side in view of critical situation in Power Industry / Capital Goods.

 

Profitability further affected with the waiver of concession sanctioned on the Card Rate of the Bank Charges for Non-fund facilities, such as LC - 40% & BG - 50%, which was around Rs. 3.000 Million.

 

NOTE

 

The registered office of the company has been shifted from 402, Prem Sadan, 4th Floor, 11, Rajendra Place, New Delhi – 110008, India to the present address w.e.f. 01.04.2011.

 

FIXED ASSETS

 

  • Land
  • Building
  • Plant and Machinery
  • Furniture and Fixture
  • Office equipment
  • Vehicles
  • Plant and Equipment

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 65.83

UK Pound

1

Rs. 103.38

Euro

1

Rs. 74.27

 

 

INFORMATION DETAILS

 

Information Gathered by :

SPR

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

------

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--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

 

42

 

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 unfavorable 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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.