MIRA INFORM REPORT

Report No. :	308042
Report Date :	16.02.2015

IDENTIFICATION DETAILS

Name :	R R KABEL LIMITED
Registered Office :	Ram Ratna House, Victoria Mill Compound Pandurang, Budhkar Marg, Worli, Mumbai-400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	06.02.1995
Com. Reg. No.:	11-085294
Capital Investment / Paid-up Capital :	Rs.204.460 Millions
CIN No.: [Company Identification No.]	U28997MH1995PLC085294
TAN No.: [Tax Deduction & Collection Account No.]	MUMR08449A
PAN No.: [Permanent Account No.]	AABCR3352C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Building Wires, Industrial Cables, Winding Wires etc.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 4856100
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for normal business dealings 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB [Long Term]
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	27.11.2013

Rating Agency Name	CRISIL
Rating	A3+ [Short Term]
Rating Explanation	Moderate degree of safety. It carry higher credit risk.
Date	27.11.2013

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 :	Ram Ratna House, Victoria Mill Compound Pandurang, Budhkar Marg, Worli, Mumbai-400013, Maharashtra, India
Tel. No.:	91-22-24949009/24924144
Fax No.:	91-22-24910819/24912586
E-Mail :	rrkable@ramratna.com rajesh.jain@ramratna.com
Website :	http://www.rrkabel.com
Area:	10,000 Sq ft
Location:	Owned
Factory 1 :	Survey No. 142/2, Madhuban Dham Road, Silvassa – 396240, Dadra and Nagar Haveli, India
Tel. No.:	91-260-2641332
Area:	65,000 Sqm
Location:	Owned
Factory 2 :	Located At: Waghodia, Vadodara, Gujarat, India
Branch Office :	Located At: · Mumbai · Kerala · Coimbatore · Pune · Vadodara · Chennai · Secunderabad · Jaipur · Madurai · Bangalore · Silvassa · Ahmedabad · Kolkata · New Delhi · Lucknow · Bhubaneshwar

DIRECTORS

As on 30.09.2014

Name :

Mr. Shreegopal Rameshwarlal Kabra

Designation :

Managing Director

Address :

547, Ishan Building, 9-10th Floor, Jamejamshed Road, Matunga (East), Mumbai – 400019, Maharashtra, India

Date of Birth/Age :

31.06.1958

Date of Appointment :

27.06.2014

DIN No.:

00140598

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	U29309GJ1989PTC012221	KABRA COLOURS PRIVATE LIMITED	Director	11-05-89	11-05-89	23-11-09	Active	NO
2	U67120MH1995PTC084398	RSQUARE REALTY PRIVATE LIMITED	Director	16-02-95	16-02-95	-	Amalgamated	NO
3	U67120MH1995PTC085647	JAG-BID FINVEST PRIVATE LIMITED	Director	16-02-95	16-02-95	-	Active	NO
4	U45203DL2002PTC114936	R R PARKON PRIVATE LIMITED	Director	01-11-02	01-11-02	-	Active	NO
5	U31300MH1973GAP016998	WINDING WIRES MANUFACTURERS ASSOCIATION OF INDIA	Director	29-09-04	29-09-04	19-09-14	Active	NO
6	U31900MH2007PLC223502	GLOBAL ELECTRICAL FACTORY (INDIA) LIMITED	Director	24-09-07	24-09-07	-	Amalgamated	NO
7	U99999MH1970GAP014629	INDIAN ELECTRICAL AND ELECTRONICS MANUFACFTURERS ASSOCIATION	Director	22-09-14	21-10-11	-	Active	NO
8	U31908MH2012PTC234741	RR-Jinyi Elevator Company Private Limited	Director	21-08-12	21-08-12	-	Active	NO
9	U28997MH1995PLC085294	R R KABEL LIMITED	Managing director	28-06-14	27-06-14	-	Active	NO

Name :

Mr. Mahendrakumar Rameshwarlal Kabra

Designation :

Joint Managing Director

Address :

Casa Grande, Tower No. 2, 20^th Floor, Flat No. 2008, 249, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

Date of Birth/Age :

13.05.1957

Date of Appointment :

06.02.1995

Din No.:

00473310

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	U31300GJ1982PLC005583	MEW ELECTRICALS LIMITED	Director	15-10-82	15-10-82	21-03-08	Active	NO
2	L31300MH1992PLC067802	RAM RATNA WIRES LIMITED	Director	01-04-07	21-07-92	-	Active	NO
3	U67120MH1994PTC077137	RAM RATNA RESEARCH AND HOLDINGS PRIVATE LIMITED	Director	17-03-94	17-03-94	-	Active	NO
4	U28997MH1995PLC085294	R R KABEL LIMITED	Managing director	23-09-14	06-02-95	-	Active	NO
5	U67120MH1995PTC085552	RAM RATNA INFRASTRUCTURE PVT LIMITED	Director	14-02-95	14-02-95	-	Active	NO
6	U29309GJ1989PLC012222	RAM RATNA ELECTRICALS LIMITED	Director	15-12-99	15-12-99	11-06-12	Active	NO
7	U45203MH2001PTC131227	SHWESH INFRASTRUCTURE PRIVATE LIMITED	Director	01-08-01	01-08-01	15-01-10	Active	NO
8	U72900MH2004PLC147670	Hemlata Home Solutions Limited	Director	23-07-04	23-07-04	05-10-06	Active	NO
9	U45209GJ2007PTC051815	WORLD ELECTRICAL HUB PRIVATE LIMITED	Director	24-09-07	24-09-07	-	Active	NO
10	U31300MH1973GAP016998	WINDING WIRES MANUFACTURERS ASSOCIATION OF INDIA	Director	19-09-14	19-09-14	-	Active	NO

Name :

Mr. Tribhuvanprasad Rameshwarlal Kabra

Designation :

Managing Director

Address :

Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and Sanskrit Building Behind, Akota Stadium, Baroda-390020, Gujarat, India

Date of Birth/Age :

11.06.1955

Date of Appointment :

02.09.1997

Din No.:

00091375

PAN No.:

AADPK2978A

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	U29309GJ1989PLC012222	RAM RATNA ELECTRICALS LIMITED	Director	14-07-90	14-07-90	08-06-12	Active	NO
2	L31300MH1992PLC067802	RAM RATNA WIRES LIMITED	Managing director	24-06-14	29-09-93	-	Active	NO
3	U67120MH1994PTC077137	RAM RATNA RESEARCH AND HOLDINGS PRIVATE LIMITED	Director	17-03-94	17-03-94	-	Active	NO
4	U28997MH1995PLC085294	R R KABEL LIMITED	Director	27-06-14	02-09-97	-	Active	NO
5	U31300MH1973GAP016998	WINDING WIRES MANUFACTURERS ASSOCIATION OF INDIA	Director	28-09-01	28-09-01	22-09-09	Active	NO
6	U67120MH1995PTC084398	RSQUARE REALTY PRIVATE LIMITED	Director	29-09-07	09-05-07	-	Amalgamated	NO
7	U31900MH2007PLC223502	GLOBAL ELECTRICAL FACTORY (INDIA) LIMITED	Director	24-09-07	24-09-07	-	Amalgamated	NO

Name :

Mr. Satyanarayan Mohanlal Loya

Designation :

Director

Address :

1502, Krishna Heritage, New Link Road, Opposite Don Bosco School, Borivali (West), Mumbai-400091, Maharashtra, India

Date of Birth/Age :

05.04.1930

Qualification:

Professional

Date of Appointment :

30.09.1997

Din No.:

00091323

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	U45309GJ1974PTC002487	KABEL BUILDCON SOLUTIONS PRIVATE LIMITED	Director	02-09-87	02-09-87	-	Active	NO
2	U45200MH1945PTC003847	THE RAJASTHAN CONSTRUCTION CO PVT LTD	Director	24-08-92	24-08-92	-	Active	NO
3	L31300MH1992PLC067802	RAM RATNA WIRES LIMITED	Director	29-09-93	29-09-93	-	Active	NO
4	U28997MH1995PLC085294	R R KABEL LIMITED	Director	30-09-97	30-09-97	-	Active	NO
5	U21000MH1998PTC116169	PAP-PRINT (INDIA) PRIVATE LIMITED	Director	07-08-98	07-08-98	-	Active	NO

Name :

Mrs. Kirtidevi Shreegopal Kabra

Designation :

Director

Address :

Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and Sanskrit Building Behind, Akota Stadium, Baroda-390020, Gujarat, India

Date of Birth/Age :

23.02.1962

Date of Appointment :

06.02.1995

Din No.:

00150796

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	U31300GJ1982PLC005583	MEW ELECTRICALS LIMITED	Director	01-01-88	01-01-88	31-03-09	Active	NO
2	U67120MH1995PTC084398	RSQUARE REALTY PRIVATE LIMITED	Director	06-01-95	06-01-95	-	Amalgamated	NO
3	U28997MH1995PLC085294	R R KABEL LIMITED	Whole-time director	01-01-14	06-02-95	-	Active	NO
4	U72900MH2004PLC147670	HEMLATA HOME SOLUTIONS LIMITED	Director	23-07-04	23-07-04	05-10-06	Active	NO
5	U67120MH1995PTC085552	RAM RATNA INFRASTRUCTURE PVT LIMITED	Director	20-12-05	20-12-05	04-09-07	Active	NO
6	L31300MH1992PLC067802	RAM RATNA WIRES LIMITED	Director	23-09-14	29-07-14	-	Active	NO
7	U74999MH2014PTC259158	UPPER EDGE MEDIA SOLUTIONS PRIVATE LIMITED	Director	07-11-14	07-11-14	-	Active	NO

Name :

Mr. Ashok Satyanarayan Loya

Designation :

Director

Address :

1502, Krishna Heritage, New Link Road, Opposite Don Bosco School, Borivali (West), Mumbai-400091, Maharashtra, India

Date of Birth/Age :

03.05.1965

Qualification:

Professional

Date of Appointment :

08.09.1999

Din No.:

00136619

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	U45309GJ1974PTC002487	KABEL BUILDCON SOLUTIONS PRIVATE LIMITED	Director	22-01-91	22-01-91	08-04-08	Active	NO
2	U67120MH1994PTC077137	RAM RATNA RESEARCH AND HOLDINGS PRIVATE LIMITED	Director	17-03-94	17-03-94	-	Active	NO
3	U28997MH1995PLC085294	R R KABEL LIMITED	Whole-time director	01-11-10	08-09-99	-	Active	NO
4	U67120MH1995PTC091331	DHANNAJAY STOCKLEND PRIVATE LIMITED	Director	29-09-07	05-09-07	-	Active	NO
5	U31900MH2007PLC223502	GLOBAL ELECTRICAL FACTORY (INDIA) LIMITED	Director	24-09-07	24-09-07	-	Amalgamated	NO

Name :

Mr. Mahesh Tribhuvanprasad Kabra

Designation :

Whole Time Director

Address :

Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and Sanskrit Building Behind, Akota Stadium, Baroda-390020, Gujarat, India

Date of Birth/Age :

23.03.1977

Date of Appointment :

11.03.2000

Din No.:

00137796

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	U28997MH1995PLC085294	R R KABEL LIMITED	Whole-time director	01-11-10	11-03-00	-	Active	NO
2	U67120MH1995PTC084398	RSQUARE REALTY PRIVATE LIMITED	Director	29-09-07	09-05-07	-	Amalgamated	NO
3	U45209GJ2007PTC051815	WORLD ELECTRICAL HUB PRIVATE LIMITED	Director	24-09-07	24-09-07	-	Active	NO
4	U45309GJ1974PTC002487	KABEL BUILDCON SOLUTIONS PRIVATE LIMITED	Director	20-06-11	20-06-11	-	Active	NO

Name :

Mr. Sumeet Mahendrakumar Kabra

Designation :

Director

Address :

B-1908, Casa Grande, Senapati Bapat Marg, Lower Parel, Mumbai-400013, Maharashtra, India

Date of Birth/Age :

10.08.1982

Qualification:

MBA

Date of Appointment :

12.11.2010

Din No.:

01751282

PAN No.:

AGFPK1908C

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	U28997MH1995PLC085294	R R KABEL LIMITED	Whole-time director	01-01-14	12-11-10	-	Active	NO
2	U29309GJ1989PLC012222	RAM RATNA ELECTRICALS LIMITED	Director	28-09-13	20-05-13	-	Active	NO
3	U72900MH2004PLC147670	Hemlata Home Solutions Limited	Director	06-08-13	26-06-13	-	Active	NO

Name :

Mr. Sanjay Narnarayan Taparia

Designation :

Director

Address :

152, Yugdharma, Opposite Inorbit Link Road, Goregaon (West), Mumbai-400104, Maharashtra, India

Date of Birth/Age :

10.07.1963

Date of Appointment :

12.11.2010

Din No.:

01812564

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	U67120MH1995PTC091331	DHANNAJAY STOCKLEND PRIVATE LIMITED	Director	03-08-95	03-08-95	-	Active	NO
2	U28997MH1995PLC085294	R R KABEL LIMITED	Director	30-09-11	12-11-10	-	Active	NO

Name :

Mr. Rajesh Babu Jain

Designation :

Additional Director

Address :

Row House, 17 Balaji Township, Opposite Balaji Temple, S N 51/1/4, PN 57 to 68, Silvassa 396230, India

Date of Birth/Age :

22.09.1971

Date of Appointment :

23.09.2014

Din No.:

06959083

KEY EXECUTIVES

Name :	Mr. Himanshu Navinchandra Parmar
Designation :	Secretary
Address :	G/39, Shreenath Park Society, Behind Mahesh Complex, Waghodia, Debhoi, Ring, Road Near Himalaya Flats, Vadodara ‐ 390 019, Gujarat, India
Date of Birth/Age :	19.04.1986
Date of Appointment :	12.11.2010
PAN No.:	AUTPP3120F
Name :	Mr. Rajesh Babu Jain
Designation :	Chief Finance Officer
Address :	Row House, 17 Balaji Township, Opposite Balaji Temple, S N 51/1/4, PN 57 to 68, Silvassa 396230, India
Date of Birth/Age :	22.09.1971
Date of Appointment :	01.07.2014

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	9.29
Other top fifty shareholders	90.71
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Building Wires, Industrial Cables, Winding Wires etc.

Products :

Item Code No.	Product Description
85446020	PVC Insulated cables

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Not Divulged

Countries :

Not Divulged

Imports :

Products :

Not Divulged

Countries :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Installed Capacity	Actual Production
Finished goods various types of cables (Unit in Core Kilometer)	758000	627203

NOTE:

(i) Installed Capacity is as per the certificate given by the management based on triple shift operation.

(ii) Production of Cables is exempted from the licensing requirement under the new Industrial Policy.

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 :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	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 :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

1000 (Approximately)

Bankers :

· Corporation Bank, Industrial Financial Branch At 104,Bharath House, Bombay Samachar Marg, Fort, Mumbai - 400001, Maharashtra, India

· State Bank of India, Special Commercial Branch, Trident Complex, Race Course Circle (N), Vadodara - 390007, Gujarat, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from banks	253.077	269.522
Foreign currency term loans from banks	206.405	191.552
Other loans and advances	4.741	3.303
Total	464.223	464.377
Short-term borrowings
Rupee term loans from banks	986.160	668.926
Foreign currency term loans from banks	836.762	873.658
Total	1822.922	1542.584

Banking Relations :
Auditors :
Name :	V.C. Darak and Associates Chartered Accountants
Address :	Yashodhan, 1^st Floor, Malviya Road, Off. Post Office Road, Vile Parle (East), Mumbai-400057, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAPD8698K
Memberships :	--
Collaborators :	--
Associates :	Ram Ratna Wires Limited [L31300MH1992PLC067802]
Joint Venture :	R R Imperial Electricals Limited
Other Related Parties :	· MEW Electricals Limited [U31300GJ1982PLC005583] · Ram Ratna International · Ram Ratna Electricals Limited [U29309GJ1989PLC012222] · Ram Ratna Infrastructure Pvt Limited [U67120MH1995PTC085552] · R R Parkon Private Limited [U45203DL2002PTC114936] · Kabra Global · Ram Ratna Research and Holdings Private Limited [U67120MH1994PTC077137] · Kabel Buildcon Solutions Private Limited [U45309GJ1974PTC002487] · Jag-Bid FInvest Private Limited [U67120MH1995PTC085647]

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20446000	Equity Shares	Rs.10/- each	Rs.204.460 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	204.460	204.460	204.460
(b) Reserves & Surplus	1495.175	1248.696	1047.927
(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)	1699.635	1453.156	1252.387
(3) Non-Current Liabilities
(a) long-term borrowings	773.460	827.726	727.474
(b) Deferred tax liabilities (Net)	116.948	92.533	75.633
(c) Other long term liabilities	1.150	1.113	0.113
(d) long-term provisions	10.404	8.086	6.336
Total Non-current Liabilities (3)	901.962	929.458	809.556
(4) Current Liabilities
(a) Short term borrowings	2248.252	1995.489	1752.316
(b) Trade payables	306.733	195.754	68.992
(c) Other current liabilities	559.528	359.732	246.635
(d) Short-term provisions	109.778	111.686	95.220
Total Current Liabilities (4)	3224.291	2662.661	2163.163
TOTAL	5825.888	5045.275	4225.106
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1561.542	1281.474	1026.458
(ii) Intangible Assets	8.749	11.534	10.693
(iii) Capital work-in-progress	202.260	51.347	144.774
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	101.904	85.908	65.088
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	57.779	184.903	115.264
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1932.234	1615.166	1362.277
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	866.088	799.920	666.819
(c) Trade receivables	2340.973	1738.213	1540.887
(d) Cash and cash equivalents	358.377	510.567	425.856
(e) Short-term loans and advances	205.879	269.031	199.937
(f) Other current assets	122.337	112.378	29.330
Total Current Assets	3893.654	3430.109	2862.829
TOTAL	5825.888	5045.275	4225.106

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	11413.417	9424.296	8038.857
	Other Income	30.741	36.287	31.867
	TOTAL (A)	11444.158	9460.583	8070.724
Less	EXPENSES
	Cost of Materials Consumed	9436.235	7875.316	6876.212
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(43.059)	(78.209)	(147.706)
	Employees benefits expense	325.427	258.637	184.142
	Other expenses	838.491	633.541	505.259
	TOTAL (B)	10557.094	8689.285	7417.907
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	887.064	771.298	652.817
Less	FINANCIAL EXPENSES (D)	290.734	263.276	189.373
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	596.330	508.022	463.444
Less/ Add	DEPRECIATION/ AMORTISATION (F)	114.534	97.139	72.657
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	481.796	410.883	390.787
Less	TAX (I)	163.618	138.423	131.917
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	318.178	272.460	258.870
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	989.006	818.308	660.726
Less	APPROPRIATIONS
	Transfer to General Reserve	32.500	30.000	30.000
	Dividend	61.338	61.338	61.338
	Tax on Dividend	10.424	10.424	9.951
	Total (M)	104.262	101.762	101.289
	Balance Carried to the B/S (J+K+L-M)	1202.922	989.006	818.307
	EARNINGS IN FOREIGN CURRENCY
	Export Earnings	3065.345	2080.070	1917.924
	TOTAL EARNINGS	3065.345	2080.070	1917.924
	IMPORTS
	Raw Materials	4240.708	1088.894	663.160
	Components and Stores parts	2.564	2.181	5.317
	Capital Goods	233.335	24.378	60.274
	TOTAL IMPORTS	4476.607	1115.453	728.751
	Earnings / (Loss) Per Share (Rs.)	15.56	13.33	12.66

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.79	2.89	3.22
Operating Profit Margin (PBIDT/Sales)	(%)	7.77	8.18	8.12
Return on Total Assets (PBT/Total Assets}	(%)	8.73	8.37	9.73
Return on Investment (ROI) (PBT/Networth)		0.28	0.28	0.31
Debt Equity Ratio (Total Debt /Networth)		1.78	1.94	1.98
Current Ratio (Current Asset/Current Liability)		1.21	1.29	1.32

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	204.460	204.460	204.460
Reserves & Surplus	1047.927	1248.696	1495.175
Net worth	1252.387	1453.156	1699.635
long-term borrowings	727.474	827.726	773.460
Short term borrowings	1752.316	1995.489	2248.252
Total borrowings	2479.790	2823.215	3021.712
Debt/Equity ratio	1.980	1.943	1.778

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	8038.857	9424.296	11413.417
		17.234	21.106

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	8038.857	9424.296	11413.417
Profit	258.870	272.460	318.178
	3.22%	2.89%	2.79%

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	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATIONS

Financial Year 2013-14 demonstrated a prosperous and eventful year for the Company. The Company has achieved all time highest production of 942168 CKM compared to previous year’s 833558 CKM thereby posting an increase of 13.03%. In terms of Revenue, the company has posted Gross Revenue from Operations of Rs. 12025.100 Millions, as against Rs. 10240.300 Millions in previous year, higher by 17.43% and Net Profit after Tax of Rs. 318.200 Millions against the previous year’s Net Profit of Rs. 272.400 Millions, higher by 16.81%. This has been accomplished in spite of overall inflationary trend in the country, which remained double-digits almost throughout the year, vast fluctuation in LME rate of Coppers, interest rates too remained high. All this, coupled with the policy paralysis and slow decision-making process at the government level, made things worse for businesses as well as customers.

OUTLOOK

The company is one of the preferred suppliers of wires and cables in India with significant presence over all Industrial & Domestic segment with wide product range. The Product range includes Fire Alarm Cables, Solar Cables, Silicon Rubber Cables, Servo Cables, Battery Cables, Auto Cables, Elevator Cables, Profibus Cables, Modbus Cables, Load Cell Cables, CY & SY Cables, Cords, Harnessed Cables, Aluminum Armoured Cables etc. The company has not only enhanced, significantly, its Market share with its leading domestic and multinational customer but also has penetrated into many new accounts. Today’s moto of the company is to provide end-to-end solutions with high-quality, cost-effective and customized product, which has been justified with new products that have been developed by us. The company is investing good amount in R&D, the result of which is that we are able to complete our basket of products.

Despite the worldwide economic challenges, the Company remained steadfast in delivering excellent performance during last financial year. The Board hopes that with the support from the domestic market, the Company will accelerate the process to forge ahead towards the goal of being a Market Leader in all sectors. The growth of cable and wire industry is dependent upon the growth of various sectors such as power, oil and gas exploration, refineries, metro rail, cement, steel, fertilizers, textile, real estate, airport modernization, industrial and telecom. With Indian economy recovering at a faster rate, the wire and cable industry is also expected to grow considerably. Robust growth of emerging economies provides large opportunities to the company. We are a well-established Company in these economies and will continue to focus on the growth, new product launches and increasing distribution strength. In other mature economies, the market trend is changing favorably. The strategy of the company is to get higher profitability and stable cash flow generations in these markets. The Indian market is moving forward from basic infrastructure needs to high end technological developments. Where India?s domestic market consumption in itself presents tremendous opportunities, we are witnessing equivalent growth in

overseas market. With the economy striving for developing a robust and stable infrastructure and customers increasingly demanding high-quality and branded wires, potential demand outlook for cables looks positive which would further drive the growth for the company.

Unsecured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Loans and advances from directors	60.090	53.431
Loans and advances from others	38.080	56.723
Other loans and advances , others	169.359	223.809
Deposits	41.708	29.386
Total	309.237	363.349
Short-term borrowings
Foreign currency term loans from banks	205.550	207.971
Term loans from others	169.780	199.434
Loans and advances from related parties	50.000	45.500
Total	425.330	452.905

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

Intangible assets

· Computer software

· Licenses and franchise

· Licenses

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.62.14
UK Pound	1	Rs.95.77
Euro	1	Rs.71.05

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		47

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	--

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.