MIRA INFORM REPORT

Report No. :	319659
Report Date :	04.05.2015

IDENTIFICATION DETAILS

Name :	HELUKABEL INDIA PRIVATE LIMITED
Registered Office :	F-305, Kailash Complex, Hiranandani Link Road, Behind Godrej Quarters, Vikhroli [West], Mumbai – 400079, Maharashtra
Tel. No.:	91-22-25185841
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.11.2006
Com. Reg. No.:	11-165853
Capital Investment / Paid-up Capital :	Rs. 1.154 Million
CIN No.: [Company Identification No.]	U31300MH2006FTC165853
IEC No.:	0307005992
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCH7941P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Electrical Cables and Wires, Power Cables, Electric Cables and Cable Accessories.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 245000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered 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.

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
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

LOCATIONS

Registered Office :	F-305, Kailash Complex, Hiranandani Link Road, Behind Godrej Quarters, Vikhroli [West], Mumbai – 400079, Maharashtra, India
Tel. No.:	91-22-25185841
Fax No.:	91-22-25185839
E-Mail :	hbsingh@heluindia.com
Website :	http://www.helukabel.in
Cable Plant :	Located at: · Windsbach

DIRECTORS

AS ON 30.09.2014

Name :	Haribansh J. Singh
Designation :	Director
Address :	304, Prince Tower, LBS Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India
Date of Birth/Age :	06.12.1968
Date of Appointment :	28.11.2006
PAN No.:	AVIPS4767R
DIN No.:	01553991
Name :	Hartmut Walter Kellner Von Bergen
Designation :	Director
Address :	Mulhauser Street, 50, Ludwigsberg, Germany 71640
Date of Birth/Age :	11.07.1962
Date of Appointment :	28.11.2006
DIN No.:	01553948

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Helukabel GmbH, Germany	115235
Hari Bansh Singh	105
Pushpa Singh	10
Total	115350

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	99.90
Directors or relatives of directors	0.10
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Electrical Cables and Wires, Power Cables, Electric Cables and Cable Accessories.
Products/ Services :	· Industrial Cables & Wires · Infrastructure Cables & Wires · Data, Network & Bus Technology · Custom Cables · Pre-assembled Cables · Wind Power · Photovoltaic · Spiral Cables · Shipwiring and Marine Cables · Media Technology · Cable Accessories
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Not Available
Countries :	Not Available
Imports :
Products :	Not Available
Countries :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

Customers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

No. of Employees :

Not Available

Bankers :

Bank Name:	Not Available
Branch:	Not Available
Person Name (with Designation):	Not Available
Contact Number:	Not Available
Name of Account Holder:	Not Available
Account Number:	Not Available
Account Since (Date/ Year of A/c Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Available
Account Operation:	Not Available
Remarks:	Not Available

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Kuwadia and Associates Chartered Accountants
Address :	B/305 and B/501, Sai Darshan, Garden Lane, Gamdevi Road, Sanghani Estate, Ghatkopar, Mumbai – 400086, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AKXPK6688B
Holding Company :	Helukabel GmbH, Germany

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000	Equity Shares	Rs. 10/- each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
115,350	Equity Shares	Rs. 10/- each	Rs. 1.154 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	1.154	1.154	1.154
(b) Reserves & Surplus	84.680	71.213	58.446
(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)	85.834	72.367	59.600
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	22.654	31.064	22.264
Total Non-current Liabilities (3)	22.654	31.064	22.264
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	16.505	2.194	20.425
(c) Other current liabilities	0.463	0.502	0.909
(d) Short-term provisions	6.817	6.352	8.800
Total Current Liabilities (4)	23.785	9.048	30.134
TOTAL	132.273	112.479	111.998
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.318	1.153	1.230
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.855	7.243	0.897
(c) Deferred tax assets (net)	0.072	0.098	0.074
(d) Long-term Loan and Advances	39.997	42.238	31.412
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	42.242	50.732	33.613
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	23.466	12.994	13.351
(c) Trade receivables	47.286	24.720	25.495
(d) Cash and cash equivalents	10.442	16.824	30.839
(e) Short-term loans and advances	8.837	7.209	8.700
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	90.031	61.747	78.385
TOTAL	132.273	112.479	111.998

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	222.132	178.239	221.521
		Other Income	0.059	0.602	0.553
		TOTAL (A)	222.191	178.841	222.074
Less	EXPENSES
		Purchases of Stock-in-Trade			179.555
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade			(3.980)
		Employees benefits expense			6.889
		Other expenses			13.061
		TOTAL (B)	NA	NA	195.525
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		[Including Financial and Depreciation Expenses]	[Including Financial and Depreciation Expenses]	26.549
Less	FINANCIAL EXPENSES (D)				(0.350)
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				26.899
Less/ Add	DEPRECIATION/ AMORTISATION (F)				0.401
	PROFIT BEFORE TAX (E-F) (G)		NA	NA	26.498
Less	TAX (H)		NA	NA	8.758
	PROFIT AFTER TAX (G-H) (I)		13.487	NA	17.740
	Earnings Per Share (Rs.)		116.93	NA	153.80

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	6.07	NA	8.01
Operating Profit Margin (PBDIT/Sales)	(%)	NA	NA	11.98
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	23.87
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.44
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		3.79	6.82	2.60

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	1.154	1.154	1.154
Reserves & Surplus	58.446	71.213	84.680
Net worth	59.600	72.367	85.834
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	221.521	178.239	222.132
		-19.539	24.626

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 two 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	No
24]	Banking facility details	No
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	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

FIXED ASSETS:

· Office Equipment

· Furniture and Fixture

· Vehicle

· Computers

· Air Conditioner

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. 63.58
UK Pound	1	Rs. 97.99
Euro	1	Rs. 70.53

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		48

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.