MIRA
INFORM REPORT
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Report No. : |
306030 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
C AND S ELECTRIC LIMITED (w.e.f. 03.12.2008) |
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Formerly Known
As : |
CONTROLS AND SWITCHGEAR COMPANY LIMITED |
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Registered
Office : |
222, Okhla Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.06.1971 |
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Com. Reg. No.: |
55-005672 |
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Capital Investment
/ Paid-up Capital : |
Rs. 486.516 Millions |
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CIN No.: [Company Identification
No.] |
U31909DL1971PLC005672 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELC06422D |
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PAN No.: [Permanent Account No.] |
AAACC0909K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer,
Exporter and Importer of Electrical Switchgear and Control Gear Products |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1300000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and sound profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealing at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long Term Bank Facilities = A- |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
December 11, 2013 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Bank Facilities = A2+ |
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Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
December 11, 2013 |
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 Office/ Head Office/ Work : |
222 Okhla Industrial Estate, New Delhi-110020, |
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Tel. No.: |
91-11-30887520/ 29 |
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Fax No.: |
91-11-26847154/ 26829063 |
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E-Mail : |
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Website : |
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Factory 1 : |
A-7 and 8, Sector-VIII, Noida-201301, District Gautam Budh Nagar, |
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Tel. No.: |
91-120-3914301/ 02 |
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Fax No.: |
91-120-3914303 |
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Factory 2 : |
C-59, Phase-II, Noida-201305, District Gautam Budh Nagar, |
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Tel. No.: |
91-120-3048800/ 02 |
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Fax No.: |
91-120-3048801 |
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Factory 3 : |
C-58, Phase-II, Noida-201305, District Gautam Budh Nagar, |
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Tel. No.: |
91-120-3048709 |
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Fax No.: |
91-120-32042149 |
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Factory 4 : |
B-1, Site-IV, Surajpur Industrial Area, Kasna Road, Greater Noida, District
Gautam Budh Nagar, Uttar Pradesh, India |
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Tel. No.: |
91-120-3914500/ 01 |
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Fax No.: |
91-120-2341896 |
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Factory 5 : |
44, Okhla Industrial Estate, Phase-III, New Delhi-110020, |
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Tel. No.: |
91-11-30883763 |
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Fax No.: |
91-11-26832259 |
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Factory 6 : |
NSEZ Plot No. 63, NSEZ, Noida-201305, |
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Tel. No.: |
91-120-3074391 |
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Fax No.: |
91-120-3042149 |
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Factory 7 : |
1C, Sector-8C, Integrated Industrial Estate, Ranipur, Haridwar-249403,
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Tel. No.: |
91-1334-239551/ 52 |
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Fax No.: |
91-1334-239292 |
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Factory 8 : |
Plot No. 1B, Sector-8C, Integrated Industrial Estate (SIDCUL),
Ranipur, Haridwar-249403, |
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Tel. No.: |
91-1334-308101/ 02 |
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Fax No.: |
91-1334-239694 |
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Factory 9 : |
Plot No. 1A Sector – 11, Integrated Industrial Estate (SIDCUL),
Ranipur, Haridwar-249403 , Uttarakhand, India |
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Tel. No.: |
91-1334-239212 |
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Fax No.: |
91-1334-239217 |
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Factory 10 : |
Plot No. 1A/3, Sector-8 C, Integrated Industrial Estate (SIDCUL),
Ranipur, Haridwar-249403 , Uttarakhand, India |
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Tel. No.: |
91-1334-300800 |
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Fax No.: |
91-1334-300801 |
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Factory 11 : |
Plot No. 10, Sector-11, Integrated Industrial Estate (SIDCUL),
Ranipur, Haridwar-249403, Uttarakhand, India |
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Tel. No.: |
91-1334-315215 |
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Factory 12 : |
Plot No. 2, Sector-8 C, Integrated Industrial Estate (SIDCUL),
Ranipur, Haridwar-249403, Uttarakhand, India |
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Tel. No.: |
91-1334-308130-144 |
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Fax No.: |
91-1334-308139 |
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Factory 13 : |
C AND S CHINA PLANT No.2, Wangyang Industry Park, Zhanghishan Towen,
Tongzhou City, Jiangsu Province, China – 226311 |
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Factory 14 : |
ETACOM BOOM |
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Marketing Offices : |
Located At: ·
·
·
Jaipur ·
·
·
Ahmedabad ·
·
·
·
·
Kolkata ·
Pune ·
Mumbai ·
Bhubaneshwar ·
Secunderabad ·
·
Bengaluru ·
Chennai ·
·
|
DIRECTORS
AS ON 20.09.2013
|
Name : |
Mr. Sanjay Kumar Bhattacharyya |
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Designation : |
Director |
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Address : |
F-1/4, Chaitanya Mahaprabhu Marg, Hauz Khas Enclave, New Delhi-110016 |
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Date of Birth/Age : |
08.11.2011 |
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Date of Appointment : |
31.10.150 |
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Din No.: |
01924770 |
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Name : |
Mr. Prithvi Raj Khanna |
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Designation : |
Director |
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Address : |
70, Sunder Nagar, New Delhi-110003, |
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Date of Birth/Age : |
02.07.1933 |
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Date of Appointment : |
09.07.2009 |
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Din No.: |
00048800 |
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Name : |
Mr. V N Koura |
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Designation : |
Director |
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Address : |
7, Navjiwan Vihar, New Delhi-110017, |
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Date of Birth/Age : |
08.04.1940 |
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Date of Appointment : |
09.07.2009 |
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Din No.: |
00010210 |
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Name : |
Mr. Ravinder Nath Khanna |
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Designation : |
Director |
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Address : |
C-69, Friends Colony, Mathura Road, New Delhi-110065, |
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Date of Birth/Age : |
28.01.1940 |
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Date of Appointment : |
15.06.1971 |
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Din No.: |
00024444 |
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Name : |
Mr. Ashok Khanna |
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Designation : |
Director |
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Address : |
14, Ishwar Nagar, Mathura Road, New Delhi-110065, |
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Date of Birth/Age : |
31.08.1945 |
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Date of Appointment : |
15.06.1971 |
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Din No.: |
00003335 |
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Name : |
Mr. Rishi Nath Khanna |
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Designation : |
Director |
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Address : |
C-69, Friends Colony, Mathura Road, New Delhi-110065, |
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Date of Birth/Age : |
18.12.1973 |
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Date of Appointment : |
19.04.1999 |
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Din No.: |
00024808 |
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Name : |
Mr. Anuj Khanna |
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Designation : |
Director |
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Address : |
14, Ishwar Nagar, Mathura Road, New Delhi-110065, |
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Date of Birth/Age : |
12.07.1973 |
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Date of Appointment : |
19..04.1999 |
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Din No.: |
00025087 |
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Name : |
Mr. Aditya Khanna |
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Designation : |
Director |
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Address : |
14, Ishwar Nagar, Mathura Road, New Delhi-110065, |
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Date of Birth/Age : |
12.06.1978 |
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Date of Appointment : |
17.01.2005 |
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Din No.: |
00065107 |
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Name : |
Mrs. Radhika Kapoor |
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Designation : |
Director |
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Address : |
C-19, Friends Colony, New Delhi-110065, |
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Date of Birth/Age : |
12.01.1971 |
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Date of Appointment : |
24.07.2006 |
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Din No.: |
00065337 |
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Name : |
Mr. Biplab Majumder |
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Designation : |
Director |
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Address : |
Apartment No. H1301, Mantri Espana, Kanyammana, Agrahara, Outer Ring
Road, Bangalore-560103, Karnataka, India |
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Date of Birth/Age : |
01.03.2013 |
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Date of Appointment : |
14.09.1948 |
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Din No.: |
00064467 |
KEY EXECUTIVES
|
Name : |
L K Khanna |
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Designation : |
Company Secretary |
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Address : |
9-102, Ramesh Nagar, New Delhi – 110015, India |
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Date of Birth/Age : |
21.04.1957 |
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Date of Appointment : |
09.07.2009 |
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Pan No.: |
AAAPK0919K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 20.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
9.52 |
|
Bodies corporate |
0.04 |
|
Directors or relatives of Directors |
89.77 |
|
Other top fifty shareholders |
0.35 |
|
Others |
0.32 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter and Importer of Electrical Switchgear and Control Gear Products |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
Standard Chartered Bank, Credit Documentation
Unit, Narain Manzil, 23 Barakhamba Road, New Delhi – 110001, India ·
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai –
400013, Maharashtra, India ·
State Bank of India, Commercial Branch, A-5,
South Extension Part-I, New Delhi – 110048, India ·
Yes Bank Limited, 9th Floor, Nehru
Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India ·
State Bank of India, 233, Okhla Industrial
Estate, Phase – III, New Delhi – 110020, India |
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Facilities : |
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Auditors : |
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|
Name : |
Deloittee Haskins and Sells Chartered Accountant |
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Address : |
7th Floor, Tower B, Building No. 10, |
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PAN No.: |
AABFD2095B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
·
C&S (Nantong) Electric Limited ·
Eon Telesystems Private Limited
[U72300dl2008ptc184889] ·
C&S Middle East (Fze), United Arab Emirates |
|
|
|
|
Joint Venture : |
·
C&S Himoinsa Private Limited
[U31103DL2006PTC149585] ·
EFACEC C&S MV Components Private Limited
[U31908DL2008PTC179248] ·
C&S EFACEC MV India Private Limited
[U31900DL2008PTC178643] ·
RAAS Controls, India ·
Eta-Com B NV, Singapore ·
Wago Limited [U74899DL1995PLC070294] |
|
|
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Other Related Parties : |
·
Hitkari Industries Limited
[L00000HP1994PLC014770] ·
Controls and Switchgear Contactors Limited, India
·
C&S Electric International B.V., Netherland ·
Neeru Holding Private Limited |
CAPITAL STRUCTURE
AS ON 20.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
486515920 |
Equity Shares |
Rs. 10/-
each |
Rs. 486.516
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 |
486.515 |
44.228 |
44.229 |
|
(b) Reserves & Surplus |
4279.052 |
4394.127 |
3971.036 |
|
(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) |
4765.567 |
4438.355 |
4015.265 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
243.133 |
228.560 |
346.575 |
|
(b) Deferred tax liabilities (Net) |
83.321 |
102.822 |
109.329 |
|
(c) Other long term liabilities |
17.800 |
15.861 |
14.207 |
|
(d) long-term provisions |
52.807 |
38.257 |
40.629 |
|
Total Non-current Liabilities (3) |
397.061 |
385.500 |
510.740 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1526.674 |
1718.760 |
1339.392 |
|
(b) Trade payables |
2132.875 |
1863.949 |
2046.928 |
|
(c) Other current
liabilities |
695.886 |
620.414 |
581.543 |
|
(d) Short-term provisions |
69.552 |
24.957 |
30.283 |
|
Total Current Liabilities (4) |
4424.987 |
4228.080 |
3998.146 |
|
|
|
|
|
|
TOTAL |
9587.615 |
9051.935 |
8524.151 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2007.404 |
1865.324 |
1803.414 |
|
(ii) Intangible Assets |
79.765 |
49.059 |
40.199 |
|
(iii) Capital
work-in-progress |
23.140 |
24.390 |
34.928 |
|
(iv)
Intangible assets under development |
0.000 |
14.777 |
13.879 |
|
(b) Non-current Investments |
393.382 |
399.182 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
178.618 |
|
(d) Long-term Loan and Advances |
414.535 |
334.088 |
438.318 |
|
(e) Other Non-current assets |
268.813 |
310.189 |
417.270 |
|
Total Non-Current Assets |
3187.039 |
2997.009 |
2926.626 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
406.148 |
260.148 |
234.941 |
|
(b) Inventories |
1879.725 |
1707.735 |
1559.164 |
|
(c) Trade receivables |
3744.538 |
3621.852 |
3419.708 |
|
(d) Cash and cash
equivalents |
139.681 |
188.681 |
221.815 |
|
(e) Short-term loans and
advances |
174.993 |
212.817 |
155.764 |
|
(f) Other current assets |
55.491 |
63.693 |
6.133 |
|
Total Current Assets |
6400.576 |
6054.926 |
5597.525 |
|
|
|
|
|
|
TOTAL |
9587.615 |
9051.935 |
8524.151 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8886.861 |
9006.944 |
8028.422 |
|
|
|
Other Income |
147.681 |
81.681 |
81.682 |
|
|
|
TOTAL (A) |
9034.542 |
9088.625 |
8110.104 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5339.372 |
5789.077 |
4796.321 |
|
|
|
Purchases of Stock-in-Trade |
180.906 |
188.077 |
313.920 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(60.475) |
(200.431) |
(39.999) |
|
|
|
Employees benefits expense |
1206.091 |
1097.514 |
992.028 |
|
|
|
Other expenses |
1448.530 |
1295.600 |
1144.722 |
|
|
|
TOTAL (B) |
8114.424 |
8169.837 |
7206.992 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
920.118 |
918.788 |
903.112 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
276.805 |
264.233 |
220.533 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
643.313 |
654.555 |
682.579 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
185.254 |
160.498 |
142.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
458.059 |
494.057 |
540.136 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
101.291 |
56.844 |
51.523 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
356.768 |
437.213 |
488.613 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2786.082 |
2411.895 |
1986.133 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
50.000 |
50.000 |
|
|
|
Dividend |
24.326 |
11.057 |
11.057 |
|
|
|
Tax on Dividend |
4.134 |
1.879 |
1.794 |
|
|
BALANCE CARRIED
TO THE B/S |
3114.390 |
2786.082 |
2411.895 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1882.985 |
1492.086 |
1106.107 |
|
|
TOTAL EARNINGS |
1882.985 |
1492.086 |
1106.107 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1036.633 |
856.980 |
768.081 |
|
|
|
Stores & Spares |
18.296 |
46.543 |
27.219 |
|
|
|
Capital Goods |
33.493 |
30.006 |
23.388 |
|
|
TOTAL IMPORTS |
1088.422 |
933.529 |
818.688 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.73 |
0.90 |
1.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
4.01
|
4.85 |
6.09 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
10.35
|
10.20 |
11.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.99 |
5.74 |
6.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.11 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.37 |
0.44 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.43 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
44.229 |
44.228 |
486.515 |
|
Reserves & Surplus |
3971.036 |
4394.127 |
4279.052 |
|
Net
worth |
4015.265 |
4438.355 |
4765.567 |
|
|
|
|
|
|
long-term borrowings |
346.575 |
228.560 |
243.133 |
|
Short term borrowings |
1339.392 |
1718.760 |
1526.674 |
|
Total
borrowings |
1685.967 |
1947.320 |
1769.807 |
|
Debt/Equity
ratio |
0.420 |
0.439 |
0.371 |
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 |
8028.422 |
9006.944 |
8886.861 |
|
|
|
12.188 |
(1.333) |
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 |
8028.422 |
9006.944 |
8886.861 |
|
Profit |
488.613 |
437.213 |
356.768 |
|
|
6.09% |
4.85% |
4.01% |
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 |
----------- |
|
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 |
PERFORMANCE
The gross sales for the year under review were Rs. 9467.745 Millions as against Rs. 9593.760 Millions for the previous year registering a decline of 1.3%. Profit before tax (after interest and depreciation) worked out to Rs. 458.059 Millions as against Rs. 493.967 Millions during the previous year and Profit After Tax of Rs. 356.768 Millions as against Rs. 437.123 Millions for the previous year registering a decline of 7.3% and 18.4% respectively.
OUTLOOK:
The Company continues to maintain a healthy order book of Rs. 5680.648 Millions (mainly in project based businesses). With such order book in hand, the Company expects to register a modest growth in its turnover during the current fiscal.
FORM 8
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U31909DL1971PLC005672 |
|
Name of the
company |
C&S ELECTRIC
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
222, Okhla Industrial Estate, New Delhi – 110020, India Email-id:- jaideep.malhotra@cselectric.co.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10096104 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
IDBI Bank
Limited, Ground Floor, Pacific Business Park, Plot No. 37/1, Site-4,
Sahibabad Industrial Area, Ghaziabad - 201010, Uttar Pradesh-UP, India Email-id:- kundan.kanaujia@idbi.co.in |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation executed by the company on 30.01.2014 |
|
Date of
instrument Creating the charge |
30.01.2014 |
|
Amount secured by
the charge |
Rs. 500.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC:BBR+1.50%
p.a./ WCDL:FTP+1.00% p.a.(minimum BBR+0.50% p.a.) to be decided at the time
of drawl/LC (ILC/FLC): 0.50 % p.a. BG:0.50% p.a. (Rate of interest subject to
change from time to time.) Terms of
Repayment CC: on Demand/ on
due date WCDL: on Demand LC(ILC/FLC)
Honoring of commitments on due date BG: On Demand Margin CC:25% on Stocks
and 30% on Book Debts (upto 120days) WCDL: Nil LC(ILC/FLC): Nil BG: Nil Extent and
Operation of the charge First pari passu
charge by way of hypothecation of all current assets (present and future) of
the company to secure the credit facilities of Rs. 500.000 Millions. Others As per sanction
terms. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First pari passu
charge by way of hypothecation on all current assets (present and future) of
the company. |
|
Particulars of
the present modification |
Credit facilities
(CC/WCDL/BG/LC(ILC/FLC) enhanced from Rs. 250.000 Millions to Rs. 500.000
Millions vide sanction letter no. IDBI/MSME/C and S Electric Limited/349 dated
20.03.2013 and IDBI/PSG-GZB/1083/2013-14/144(Addendum) dated 06.09.2013. The
sanction terms for enhanced credit facilities of Rs. 500.000 Millions
accepted by the company vide Board resolution dated 03.10.2013. Supplemental
deed of hypothecation executed by the company on 03.01.2014. |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
0.000 |
150.000 |
|
Total |
0.000 |
150.000 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipments
·
Furniture and Fixture
·
Vehicles
·
Computer Equipments
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. 61.74 |
|
|
1 |
Rs. 94.65 |
|
Euro |
1 |
Rs. 70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.