MIRA INFORM REPORT
|
Report No. : |
330076 |
|
Report Date : |
02.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
R R KABEL LIMITED |
|
|
|
|
Registered
Office : |
Ram Ratna House, Victoria Mill Compound Pandurang, Budhkar Marg,
Worli, Mumbai-400013, Maharashtra |
|
Tel. No.: |
91-22-24949009 |
|
|
|
|
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
Million |
|
|
|
|
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
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and established company incorporated during the year
1995 having a satisfactory track record. Available financial indicates company sound financial risk profile
marked by decent net worth position with good profitability margin and
favorable gap between trade payable and trade receivable. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. In view of long standing record, the company can be considered normal
for 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long –Term Rating (BBB) |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
02.03.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-Term Rating (A3+) |
|
Rating Explanation |
Moderate degree of safety and carry higher credit risk. |
|
Date |
02.03.2015 |
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
Management Non-Cooperative (91-22-24949009)
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 : |
|
|
Website : |
|
|
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:
|
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 |
|
|
|
|
Name : |
Mr. Mahendrakumar Rameshwarlal Kabra |
|
Designation : |
Joint Managing Director |
|
Address : |
Casa Grande, Tower No. 2, 20th 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 |
|
|
|
|
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 |
|
|
|
|
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 |
|
|
|
|
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 |
|
|
|
|
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 |
|
|
|
|
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 |
|
|
|
|
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 |
|
|
|
|
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 |
|
|
|
|
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. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
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||||
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Selling : |
Not Divulged |
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|
||||
|
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 : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
V.C. Darak and Associates Chartered Accountants |
|
Address : |
Yashodhan, 1st 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 : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
Ram Ratna Wires Limited [L31300MH1992PLC067802] |
|
|
|
|
Joint Venture : |
R R Imperial Electricals Limited |
|
|
|
|
Other Related Parties : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20446000 |
Equity Shares |
Rs.10/- each |
Rs.204.460 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 |
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 (H) |
163.618 |
138.423 |
131.917 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
318.178 |
272.460 |
258.870 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD (J) |
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 (K) |
104.262 |
101.762 |
101.289 |
|
|
|
|
|
|
|
|
Balance Carried
to the B/S (I+J-K) |
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 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
294.326 |
175.812 |
105.891 |
|
Cash generated from operations |
NA |
NA |
NA |
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 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 |
204.46 |
204.46 |
204.46 |
|
Reserves & Surplus |
1047.927 |
1248.696 |
1495.175 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1252.387 |
1453.156 |
1699.635 |
|
|
|
|
|
|
long-term borrowings |
727.474 |
827.726 |
773.46 |
|
Short term borrowings |
1752.316 |
1995.489 |
2248.252 |
|
Current Maturities of
Long Term Debt |
105.891 |
175.812 |
294.326 |
|
Total borrowings |
2585.681 |
2999.027 |
3316.038 |
|
Debt/Equity ratio |
2.065 |
2.064 |
1.951 |
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 |
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 Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
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 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
Yes |
|
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 |
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 Million) |
31.03.2013 (Rs.
in Million) |
|
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.63.62 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.70.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
49 |
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.