MIRA INFORM REPORT

Report No. :	347122
Report Date :	30.10.2015

IDENTIFICATION DETAILS

Name :	ALPHA COMMUNICATION LIMITED

Registered Office :	A-67, Gujrawala Town, Delhi – 110009
Tel. No.:	91-120-2696894

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	21.02.1989

Com. Reg. No.:	55-035147

Capital Investment / Paid-up Capital :	Rs.17.150 Million

IEC No.:	0508068151

CIN No.: [Company Identification No.]	U32209DL1989PLC035147

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AADCA3875H

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer and Exporter of all types of Telephone Cables, LT Power and Control Cables, Instrumentation Cables.

No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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 established company incorporated in the year 1989. It is having satisfactory track as a manufacturing of cables. Rating takes into consideration sound financial risk profile of the company marked by adequate networth base along with comfortable gearing in FY 2015. The company has reported decent increase in its revenue base and net profit in the year under consideration. However, has reported thin profit margin in the year under consideration. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of long track record of business operations, the company can be considered for business dealings with 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Sreenath Gupta
Designation :	Accounts Manager
Contact No.:	91-120-2696894
Date :	29.10.2015

LOCATIONS

Registered Office :	A-67, Gujrawala Town, Delhi – 110009, India
Tel. No.:	91-120-2696894
Fax No.:	91-120-2696894
E-Mail :	alphacables@gmail.com
Location :	Owned
Locality:	Residential

Corporate Office/ Factory :	B-7/ B-8, Sector A-2, Tronico City, Loni District. Ghaziabad – 201102, Uttar Pradesh, India
Location :	Owned
Locality:	Industrial

DIRECTORS

As on 30.09.2014

Name :

Mr. Ajit Prasad

Designation :

Director

Address :

A-67, Gujrawala Town, Delhi - 110009, India

Date of Appointment :

21.02.1989

DIN No.:

02043647

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	U32209DL1989PLC035147	ALPHA COMMUNICATION LIMITED	Director	21/02/1989	21/02/1989	-	Active	NO
2	U74899DL1988PTC031100	RUCHIKA CABLES PRIVATE LIMITED	Director	30/09/1992	30/09/1992	-	Active	NO

Name :

Mr. Anish Gupta

Designation :

Director

Address :

A-67, Gujrawala Town, Phase-I, Delhi - 110009, India

Date of Appointment :

20.09.2001

DIN No.:

01104288

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	U32209DL1989PLC035147	ALPHA COMMUNICATION LIMITED	Director	20/09/2001	20/09/2001	-	Active	NO
2	U45201DL2002PLC114081	PARK LAND MEADOWS AND HOSPITALITY LIMITED	Director	15/06/2007	15/06/2007	-	Active	NO
3	U55204DL2008PTC184524	SIAM HOTELS PRIVATE LIMITED	Director	24/10/2008	24/10/2008	-	Strike off	NO
4	U55101DL2008PTC178325	GREEN VALLEY HOSPITALITY PRIVATE LIMITED	Director	14/05/2009	14/05/2009	-	Active	NO
5	U45400DL2007PLC168928	PARK LAND HOSPITALITY LIMITED	Director	18/08/2010	18/08/2010	-	Active	NO

Name :

Ms. Manju Gupta

Designation :

Director

Address :

A-67, Gujranwal Town-I, Delhi - 110009, India

Date of Birth/Age :

13.03.1951

Date of Appointment :

16.10.2008

DIN No.:

02378711

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	U32209DL1989PLC035147	ALPHA COMMUNICATION LTD.	Director	16/10/2008	16/10/2008	-	Active	NO
2	U74899DL1988PTC031100	RUCHIKA CABLES PRIVATE LIMITED	Director	16/10/2008	16/10/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sreenath Gupta
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders		No. of Shares
Ajit Prasad		808199
Manju Gupta		531801
Anish Gupta		334999
Bainu Agarwal		10000
Payal Gupta		10000
Deepak Gupta		1
Neema Gupta		20000
Total		1715000

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of all types of Telephone Cables, LT Power and Control Cables, Instrumentation Cables.

Products :	Cables

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Cash, L/C and Credit

Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Rakhi Agencies Limited
Name of the Person :	Mr. Amit Agarwal (General Manager)
Contact No.:	91-9811442599
Since How Long Known :	15 Years
Maximum Limit Dealt :	Not Divulged
Experience :	Good
Remark:	They gave us positive response about subject company they are satisfied with their payment behiour and market Goodwill.

Customers :

Reference :	Bajaj Electricals Limited
Name of the Person :	Mr. Milind Bhagat (Manager)
Contact No.:	91-9833072621
Since How Long Known :	4 Years
Maximum Limit Dealt :	Not Divulged
Experience :	Good
Remark:	They gave us positive response about subject company they are satisfaied with their product quality and Delivery behavior.

UP Power Transmission Limited

No. of Employees :

100 (Approximately)

Bankers :

Bank Name	Syndicate Bank
Branch	A-27, Derawal Nagar, G.T. Karnal Road, Delhi – 110009, India
Person Name (With Designation)	Mr. Sanjay Tyagi (Manager)
Contact Number	91-11-27234231
Name of Account Holder	Alpha Communication Limited
Account Number	90221250000142
Account Since (Date/Year of Account Opening)	10 Years
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	C/C Rs. 48.000 Million/ Facility Rs.140.000 Million
Account Operation	Satisfactory
Remarks (If any)	Banker gave us positive response about subject company they are satisfied with their Banking Transaction

Syndicate Bank, A - 257, Derawal Nagar, Azadpur Delhi -
110033, India


Auditors :
Name :	DRA and Company (Mr. Deepak) Chartered Accountants
Address :	35, Bunglow Road, Delhi – 110001, India
Tel. No.:	91-11-27666357/ 27667360
Fax No.:	91-11-27667414
E-Mail :	deepakbansal35@hotmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFD9975H

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs.17.150 Million

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

2000000	Equity Shares	Rs.10/- each	Rs.20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

1715000	Equity Shares	Rs.10/- each	Rs.17.150 Million

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	17.150	17.150	17.150
(b) Reserves & Surplus	128.206	127.241	126.257
(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)	145.356	144.391	143.407

(3) Non-Current Liabilities
(a) long-term borrowings	0.400	0.713	4.048
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.400	0.713	4.048

(4) Current Liabilities
(a) Short term borrowings	123.186	40.722	54.604
(b) Trade payables	43.151	51.423	26.297
(c) Other current liabilities	6.668	4.123	4.080
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	173.005	96.268	84.981

TOTAL	318.761	241.372	232.436

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17.351	18.855	20.218
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.681	0.221	0.253
(d) Long-term Loan and Advances	41.019	41.019	41.487
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	59.051	60.095	61.958

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	45.707	60.696	43.536
(c) Trade receivables	194.425	105.811	98.010
(d) Cash and cash equivalents	5.121	5.086	23.143
(e) Short-term loans and advances	3.259	1.235	1.240
(f) Other current assets	11.198	8.449	4.549
Total Current Assets	259.710	181.277	170.478

TOTAL	318.761	241.372	232.436

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	330.331	208.562	288.036
	Other Income	0.399	0.399	0.357
	TOTAL (A)	330.730	208.961	288.393

Less	EXPENSES
	Cost of Materials Consumed	278.129	166.643	258.211
	Manufacturing Expenses	0.000	0.000	18.497
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	4.350	5.798	(6.909)
	Employees benefits expense	7.615	6.538
	Other expenses	24.304	19.728	6.667
				0.480
	TOTAL (B)	314.398	198.707	276.946

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	16.332	10.254	11.447

Less	FINANCIAL EXPENSES (D)	11.830	7.321	7.820

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	4.502	2.933	3.627

Less/ Add	DEPRECIATION/ AMORTISATION (F)	2.851	1.509	1.325

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1.651	1.424	2.302

Less	TAX (H)	0.543	0.440	0.745

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	1.108	0.984	1.557

	Earnings / (Loss) Per Share (Rs.)	0.65	0.57	0.91

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.34	0.47	0.54

Operating Profit Margin (PBIDT/Sales)	(%)	4.94	4.92	3.97

Return on Total Assets (PBT/Total Assets}	(%)	0.52	0.59	0.99

Return on Investment (ROI) (PBT/Networth)		0.01	0.01	0.02

Debt Equity Ratio (Total Debt /Networth)		0.85	0.29	0.41

Current Ratio (Current Asset/Current Liability)		1.50	1.88	2.01

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	17.150	17.150	17.150
Reserves & Surplus	126.257	127.241	128.206
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	143.407	144.391	145.356

long-term borrowings	4.048	0.713	0.400
Short term borrowings	54.604	40.722	123.186
Total borrowings	58.652	41.435	123.586
Debt/Equity ratio	0.409	0.287	0.850

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	288.036	208.562	330.331
		(27.592)	58.385

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	288.036	208.562	330.331
Profit	1.557	0.984	1.108
	0.54%	0.47%	0.34%

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	No
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	Yes
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	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from A-56 Kailash Colony Delhi – 110048, India to The Present Address w.e.f.15.09.2010

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90050214	03/06/2013 *	130,000,000.00	Syndicate Bank	A - 257, Derawal Nagar, Azadpur Delhi - 110033, INDIA	B77392223
2	80007010	17/12/2014 *	140,000,000.00	Syndicate Bank	A-257, Derawal Nagar, Azadpur, Delhi - 11 0009, INDIA	C46050209

FIXED ASSETS

Factory Land
Factory Building
Plant and Machinery
Furniture and Fittings
Vehicles
Computers

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 records 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.65.15
UK Pound	1	Rs.99.36
Euro	1	Rs.71.24

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	KIN

Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.

MIRA INFORM REPORT

INDEX OF CHARGES

Unit