MIRA INFORM REPORT
|
Report No. : |
344836 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DELTON CABLES LIMITED |
|
|
|
|
Registered
Office : |
Delton House, 4801, Bharat Ram Road, 24, Darya Gunj, New Delhi –
110002 |
|
Tel. No.: |
91-11-23273905-08 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
26.09.1964 |
|
|
|
|
Com. Reg. No.: |
55-004255 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.86.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300DL1964PLC004255 |
|
|
|
|
IEC No.: |
0588060658 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD2482Q |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturers of electrical &
telecommunication wire & cables and Switchgears. |
|
|
|
|
No. of Employees
: |
221 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 578000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1964 and it is a manufacturer and
supplier of wires, cables and switchgears. The ratings also take into consideration the adverse financial metrics
of the company as reflected by its loss making nature of operations, moderate
capital structure and weak debt coverage metrics during FY 2015. Rating further constrained on account of its working capital intensive
operations marked by exposure to volatility in raw material prices and
intense competition in the cable industry. Rating weaknesses is partially offset by extensive industry experience
of promoter supported by company’s established track record of operations and
diversified client base. Trade relations are reported as fair. Payments are reported to be slow
but correct. In view of aforesaid, the company can be considered for business
dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank
facilities = BB |
|
Rating Explanation |
Inadequate credit quality
and high credit risk. |
|
Date |
April 23, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank
facilities = A4 |
|
Rating Explanation |
Minimal degree of
safety and very high credit risk. |
|
Date |
April 23, 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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Vikas Goel |
|
Designation : |
Finance Department |
|
Contact No.: |
91-11-43055055 |
|
Date : |
23.10.2015 |
LOCATIONS
|
Registered Office / Head Office : |
Delton House, 4801, Bharat Ram Road, 24, Darya Gunj, New Delhi –
110002, India |
|
Tel. No.: |
91-11-23273905 - 07 / 43055055 |
|
Fax No.: |
91-11-23280375/ 23272178/ 28835550 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
17/4, Mathura Road, Faridabad – 121002, Haryana, India |
|
Tel. No.: |
91-129-2288225 |
|
Fax No.: |
91-129-2223998 |
|
|
|
|
Factory 2 : |
70th Milestone, Delhi Jaipur Highway, Dharuhera – 122106,
Haryana, India |
|
Tel. No.: |
91-1274-2422229/ 242295 |
|
Fax No.: |
91-1274-247123 |
|
|
|
|
Factory 3 : |
(Switchgear
Division) C-22/23, Sector – 57, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4248987 |
|
|
|
|
Branch Offices : |
Located at · Mumbai · Chennai · Bangalore · Kolkata |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. V. K. Gupta |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
75 Years |
|
Qualification : |
Business Management |
|
Experience : |
46 Years |
|
Directorship in
other Companies : |
|
|
|
|
|
Name : |
Mr. Vivek Gupta |
|
Designation : |
Joint Managing Director |
|
Date of Birth/Age : |
47 Years |
|
Qualification : |
B.Com(Hons) |
|
Experience : |
Expertise in Finance and Operations |
|
Directorship in
other Companies : |
|
|
|
|
|
Name : |
Shalini Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vijay Kumar Goel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mahesh Prasad Mehrotra |
|
Designation : |
Director |
|
|
|
|
Name : |
Achintya Karati |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Bharat Bhushan Chadha |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Surender Singh Bhandari |
|
Designation : |
Director |
|
Date of Birth/Age : |
60 Years |
|
Qualification : |
B.Com and PGDBM in Material Management |
|
Experience : |
Expertise in Operations and Material Management |
|
Directorship in
other Companies : |
Deltx Info Services Private Limited (Under Process of Striking of) |
KEY EXECUTIVES
|
Name : |
Mr. Jitender Kumar |
|
Designation : |
Company Secretary |
SHAREHOLDING PATTERN
As on 30.06.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1737585 |
20.11 |
|
|
4118865 |
47.67 |
|
|
519468 |
6.01 |
|
|
519468 |
6.01 |
|
|
6375918 |
73.80 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
6375918 |
73.80 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
2868 |
0.03 |
|
|
2868 |
0.03 |
|
|
|
|
|
|
230826 |
2.67 |
|
|
|
|
|
Individual shareholders holding nominal share capital up to Rs.0.100
Million |
1497502 |
17.33 |
|
Individual shareholders holding nominal share capital in excess of
Rs.0.100 Million |
441850 |
5.11 |
|
|
91036 |
1.05 |
|
|
8745 |
0.10 |
|
|
82119 |
0.95 |
|
|
150 |
0.00 |
|
|
22 |
0.00 |
|
|
2261214 |
26.17 |
|
Total Public
shareholding (B) |
2264082 |
26.20 |
|
Total (A)+(B) |
8640000 |
100.00 |
|
|
|
|
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
8640000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturers of electrical &
telecommunication wire & cables and Switchgears. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
221 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
||||||||||||||||||||||||||||||||||||||||||
|
Auditors : |
|
|
Name : |
S. R. Dinodia and Company LLP Chartered Accountants |
|
Address : |
K-39, Connaught Place, New Delhi – 110001, India |
|
Tel. No.: |
91-11-43703300 |
|
Fax No.: |
91-11-41513666 |
|
Email : |
|
|
Website : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises having
Significant influence of KMP’s : |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9400000 |
Equity Shares |
Rs.10/- each |
Rs.94.000 Million |
|
40000 |
10 % - Cumulative Convertible Preference Shares |
Rs.100/- each |
Rs.4.000 Million |
|
20000 |
9.8 % - Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.2.000 Million |
|
|
Total |
|
Rs.100.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8640000 |
Equity Shares |
Rs.10/- each |
Rs.86.400
Million |
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting year
|
Equity Shares |
31.03.2015 |
|
|
|
No. of shares |
Amount |
|
Balances of shares at the beginning of year |
2880000 |
28.800 |
|
Add: Addition during the year |
5760000 |
57.600 |
|
Less: Buy back during the year |
--- |
--- |
|
Balances of Shares at the end of the year |
8640000 |
86.400 |
Terms/rights attached to equity shares
The company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees.
During the year ended March 31, 2015, the amount of per share dividend recognized as distributions to equity shareholders is Rs. NIL (March 31, 2014: Rs. NIL).
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of
shareholder holding more than 5 percent shares in the company
|
Name of Shareholders |
31.03.2015 |
|
|
|
No. of shares |
% |
|
Vishranti Trading Enterprises Limited |
2805501 |
32.47 |
|
Delton Cable Company |
1107450 |
12.82 |
|
Total |
3912951 |
45.29 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
86.400 |
28.800 |
28.800 |
|
(b) Reserves &
Surplus |
115.973 |
183.325 |
206.374 |
|
(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) |
202.373 |
212.125 |
235.174 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1.581 |
1.127 |
1.670 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
5.767 |
|
(c) Other long term
liabilities |
9.482 |
6.561 |
10.013 |
|
(d) long-term provisions |
0.954 |
0.885 |
3.319 |
|
Total Non-current
Liabilities (3) |
12.017 |
8.573 |
20.769 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
525.686 |
498.557 |
446.377 |
|
(b) Trade payables |
262.765 |
271.045 |
203.432 |
|
(c) Other current
liabilities |
49.393 |
22.723 |
28.572 |
|
(d) Short-term provisions |
0.287 |
0.329 |
1.085 |
|
Total Current Liabilities
(4) |
838.131 |
792.654 |
679.466 |
|
|
|
|
|
|
TOTAL |
1052.521 |
1013.352 |
935.409 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
69.335 |
81.846 |
89.680 |
|
(ii) Intangible Assets |
0.197 |
0.965 |
3.334 |
|
(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 |
0.047 |
0.047 |
0.047 |
|
(c) Deferred tax assets
(net) |
16.291 |
16.315 |
6.207 |
|
(d) Long-term Loan and Advances |
29.011 |
22.709 |
20.122 |
|
(e) Other Non-current
assets |
16.770 |
9.825 |
16.385 |
|
Total Non-Current Assets |
131.651 |
131.707 |
135.775 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
379.028 |
345.788 |
321.800 |
|
(c) Trade receivables |
419.614 |
414.595 |
358.834 |
|
(d) Cash and cash
equivalents |
19.223 |
35.789 |
23.032 |
|
(e) Short-term loans and
advances |
85.951 |
61.863 |
69.738 |
|
(f) Other current assets |
17.054 |
23.610 |
26.230 |
|
Total Current Assets |
920.870 |
881.645 |
799.634 |
|
|
|
|
|
|
TOTAL |
1052.521 |
1013.352 |
935.409 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1313.036 |
1078.008 |
1161.421 |
|
|
Other Income |
8.207 |
11.796 |
6.718 |
|
|
TOTAL |
1321.243 |
1089.804 |
1168.139 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
919.732 |
784.157 |
836.284 |
|
|
Purchases of
Stock-in-Trade |
107.998 |
40.493 |
6.476 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(38.235) |
(12.015) |
(4.089) |
|
|
Employees benefits
expense |
96.657 |
89.586 |
101.365 |
|
|
Exceptional Items |
(10.331) |
(0.520) |
20.366 |
|
|
Transfer from Revaluation
Reserve |
0.000 |
(0.226) |
(0.226) |
|
|
Other expenses |
153.843 |
142.948 |
155.257 |
|
|
TOTAL |
1229.664 |
1044.423 |
1115.433 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
91.579 |
45.381 |
52.706 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
85.736 |
70.238 |
76.665 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
5.843 |
(24.857) |
(23.959) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.479 |
12.669 |
14.957 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(4.636) |
(37.526) |
(38.916) |
|
|
|
|
|
|
|
Less |
TAX |
1.979 |
(11.528) |
(10.865) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(6.615) |
(25.998) |
(28.051) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
49.300 |
28.187 |
22.018 |
|
|
TOTAL EARNINGS |
49.300 |
28.187 |
22.018 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
96.058 |
111.705 |
89.966 |
|
|
Capital Goods |
0.000 |
1.307 |
0.000 |
|
|
TOTAL IMPORTS |
96.058 |
113.012 |
89.966 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(0.77) |
(3.01) |
(3.25) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.483 |
0.513 |
1.547 |
|
Cash generated from operations |
33.343 |
10.685 |
71.131 |
|
Net cash from operating activities |
32.366 |
10.350 |
66.382 |
QUARTERLY
RESULTS
|
Particulars (Unaudited) |
30.06.2015 |
|
1st
Quarter |
|
|
Net Sales |
248.800 |
|
Total Expenditure |
225.700 |
|
PBIDT (Excl OI) |
23.100 |
|
Other Income |
3.400 |
|
Operating Profit |
26.500 |
|
Interest |
23.600 |
|
Exceptional Items |
0.000 |
|
PBDT |
2.900 |
|
Depreciation |
2.100 |
|
Profit Before Tax |
0.800 |
|
Tax |
0.400 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
0.400 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
0.400 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(0.50) |
(2.41) |
(2.42) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
6.97 |
4.21 |
4.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.45) |
(3.76) |
(4.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
(0.18) |
(0.17) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.61 |
2.36 |
1.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.11 |
1.18 |
STOCK
PRICES
|
Face Value |
Rs.10.00 /- |
|
Market Value |
Rs.22.25 /- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
28.800 |
28.800 |
86.400 |
|
Reserves & Surplus |
206.374 |
183.325 |
115.973 |
|
Net worth |
235.174 |
212.125 |
202.373 |
|
|
|
|
|
|
long-term borrowings |
1.670 |
1.127 |
1.581 |
|
Short term borrowings |
446.377 |
498.557 |
525.686 |
|
Current Maturities of
Long Term Debt |
1.547 |
0.513 |
0.483 |
|
Total borrowings |
449.594 |
500.197 |
527.750 |
|
Debt/Equity ratio |
1.912 |
2.358 |
2.608 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1161.421 |
1078.008 |
1313.036 |
|
|
|
(7.182) |
21.802 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1161.421 |
1078.008 |
1313.036 |
|
Profit |
(28.051) |
(25.998) |
(6.615) |
|
|
(2.42%) |
(2.41%) |
(0.50%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Other Loans and
Advances |
|
|
|
Deposits from dealers |
0.770 |
0.805 |
|
Total |
0.770 |
0.805 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10575593 |
26/05/2015 |
6,400,000.00 |
PUNJAB NATIONAL BANK |
7, BHIKAJI CAMA PLACE, NEW DELHI - 110066, INDIA |
C56788870 |
|
2 |
90064007 |
17/06/1998 |
34,500,000.00 |
THE FEDERAL BANK LIMITED |
59/433; PADAM SINGH ROAD, GROUND FLOOR; KAROL BAGH, NEW DELHI - 110005, INDIA |
- |
|
3 |
90040679 |
30/07/2013 * |
926,000,000.00 |
CANARA BANK (LEAD BANK) |
PCB, CONNAUGHT PLACE, II FLOOR, WORLD TRADE TOWER, BARAKHAMBA LANE,, NEW DELHI - 110001, INDIA |
B82978917 |
|
4 |
90063578 |
30/03/1983 |
4,800,000.00 |
BANK OF AMERCIA |
NT & SA, NEW DELHI, INDIA |
- |
|
5 |
90063576 |
10/02/1983 |
1,798,200.00 |
BANK OF AMERICA |
NT &M SA, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
- |
|
6 |
90063550 |
23/06/1980 |
225,000.00 |
THE HARYANA CORP. |
BAYS; NO. 17 18
& 19 SEC-17 A, OPPOSITE LIC BUILD |
- |
|
7 |
90040271 |
26/04/1991 * |
6,500,000.00 |
HONGKONG AND SHANGHAI BANKING CORPORATION LRD. |
DELHI, NEW DELHI, INDIA |
- |
|
8 |
90059331 |
28/06/1975 |
3,000,000.00 |
MERCANTILE BANK LIMITED |
NEW DELHI, INDIA |
- |
* Date of charge modification
CORPORATE INFORMATION
Subject is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on BSE in India. The company has three manufacturing units located in Dharuhera, Faridabad and Noida. The company is engaged in manufacturing and supplying of wires and cables. Delton is a prime supplier to the Power, Telecommunication, Railways, Steel and Mining sectors in India and has also firmly established itself in the International market.
PERFORMANCE REVIEW
In F.Y. 15, several measures were taken for improving the performance of the Company and to secure new orders across various businesses and geographies.
The company achieved a turnover of Rs.1421.130 Million as
against Rs.1182.010 Million during the previous financial year. During the year
there is no cash loss in the Company. The net loss for the financial year
2014-15 is Rs.6.616 Million as compared to the loss of Rs.25.999 Million in the
previous financial year 2013-14.
OUTLOOK
There is little evidence both in the domestic and global markets for an early restoration of demand-supply equilibrium and consequent recovery in the market. To keep abreast with the latest trends in the industry, your Company was also vigilant about technological upgradation of its production facilities, with the aim of improving assets performance and cost competitiveness. As your company is the older player in Indian Cable Industry, has coveted experience in manufacturing of wires and cables and competent to face the challenges. Much of the problem is industry centric and it is some comfort that your company is relatively better placed as compared to most of its peers. It should hence be able to strike it early as and when the industry turnaround is on the anvil.
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDING JUNE 30, 2015
(Rs. In Million)
|
Particulars |
Quarter ended 30.06.2015 |
|
|
(Unaudited) |
|
Income
from operations |
|
|
Net sales/ Income from operation (net of excise duty) |
238.500 |
|
Other operating income |
10.200 |
|
Total
income from Operations(net) |
248.800 |
|
Expenditure |
|
|
Cost of material consumed |
169.400 |
|
Purchases of stock in trade |
9.400 |
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(10.400) |
|
Employees benefit expenses |
22.800 |
|
Depreciation and amortization expenses |
2.100 |
|
Other expenditure |
34.300 |
|
Total expenses |
227.700 |
|
Profit
from operations before other income and financial costs |
21.100 |
|
Other income |
3.400 |
|
Profit from
ordinary activities before finance costs |
24.500 |
|
Finance costs |
23.600 |
|
Profit from ordinary
activities after finance costs but before Exceptional Items |
0.800 |
|
Exceptional Items |
0.000 |
|
Profit from
ordinary activities before tax Expense: |
0.800 |
|
Tax expenses |
0.400 |
|
Net Profit / (Loss)
from ordinary activities after tax |
0.400 |
|
Extraordinary Items |
0.000 |
|
Net Profit / (Loss)
for the period |
0.400 |
|
Paid-up equity share capital (Nominal value Rs.10/- per share) |
86.400 |
|
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
0.000 |
|
Earnings per share (before extraordinary items) of Rs.10/- each) (not annualized): |
|
|
Basic and diluted |
0.05 |
|
Earnings per share (after
extraordinary items) |
|
|
Basic and diluted |
0.05 |
|
A.
Particulars of shareholding |
|
|
1. Public
Shareholding |
|
|
- Number of shares |
2264082 |
|
- Percentage of shareholding |
26.20% |
|
2. Promoters and Promoters group Shareholding- |
|
|
a) Pledged /Encumbered |
|
|
Number of shares |
NIL |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
NIL |
|
Percentage of shares (as a % of total share capital of the
company) |
NIL |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
6375918 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100% |
|
Percentage of shares (as a % of total share capital of the
company) |
73.80% |
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
NIL |
|
Receiving during the quarter |
NIL |
|
Disposed of during the quarter |
NIL |
|
Remaining unreserved at the end of the quarter |
NIL |
Note:
- The above financial results have been reviewed by Audit Committee and thereafter approved and taken on record by the Board of Directors in their respective meetings held on 13.08.2015.
- The Statutory Auditors have carried out limited review of the above financial results.
- The Companies business activities do not qualify as a reportable segment in context of Accounting Standard-17 “Segmental Reporting” under Companies Accounting Standard Rules, 2006.
- Tax expenses for the current period represent Deferred Tax only which does not affect cash flow.
- The previous period / year figures have been re-grouped, re-arranged and re-classified, wherever considered necessary.
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Vehicles
- Office Equipments
- Electric Installation
- Computer System
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.64.88 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.