MIRA INFORM REPORT

Report No. :	338941
Report Date :	01.09.2015

IDENTIFICATION DETAILS

Name :	CABCON INDIA PRIVATE LIMITED
Registered Office :	4-A, Pollock Street, Sawaika Centre, Ground Floor, Room No. 21, Kolkata – 700001, West Bengal
Tel. No.:	91-33-22355657/ 22356798
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.02.1991
Com. Reg. No.:	21-050809
Capital Investment / Paid-up Capital :	Rs.34.809 Million
CIN No.: [Company Identification No.]	U31200WB1991PTC050809
IEC No.:	0200014811
TAN No.: [Tax Deduction & Collection Account No.]	CALC02131D
PAN No.: [Permanent Account No.]	AABCC2164P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importers of all types of Aluminium Conductors and PVC Aluminium Cables etc.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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 1991 having satisfactory track. The company has reported growth in its turnover and has achieved a fair profitability of the company. General financial of the company is normal and acceptable for business dealings. Trade relations reported to be fair. Business is active. Payments terms are reported to be usually correct. The company can be considered for business dealings with trade term 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	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.

INFORMATION PARTED BY

Name :	Mr. B. K. Singh
Designation :	Account Manager
Contact No.:	91-33-22355657
Date :	28.08.2015

LOCATIONS

Registered Office/ Factory :	4-A, Pollock Street, Sawaika Centre, Ground Floor, Room No. 21, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22355657/ 22356798
Fax No.:	91-33-22158065
E-Mail :	info@cabconindia.com accounts@cabconindia.com
Website :	www.cabconindia.net

DIRECTORS

As on 30.09.2014

Name :

Mr. Shree Ballabh Fomra

Designation :

Director

Address :

FE – 515, Salt Lake, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

18.07.1943

Date of Appointment :

14.02.2005

PAN No.:

AADPF1618C

DIN No.:

00633436

Name :

Mr. Madan Mohan Fomra

Designation :

Director

Address :

FE – 515, Salt Lake, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

16.10.1966

Date of Appointment :

01.02.1991

PAN No.:

AADPF8390H

DIN No.:

00633292

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	U31200WB1991PTC050809	CABCON INDIA PVT LTD	Director	01/02/1991	01/02/1991	-	Active	NO
2	U27203WB2007PTC116231	SHREYASH ALUMINIUM & ALLOYS PRIVATE LIMITED	Director	28/11/2007	28/11/2007	-	Active	NO

Name :

Mr. Vijay Kumar Fomra

Designation :

Director

Address :

FE – 515, Salt Lake, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

02.10.1968

Date of Appointment :

25.11.1993

PAN No.:

AADPF3739J

DIN No.:

00633315

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	U31200WB1991PTC050809	CABCON INDIA PVT LTD	Director	25/11/1993	25/11/1993	-	Active	NO
2	U28999WB2004PTC098635	RADHIKA TRANSMISSION PRIVATE LIMITED	Director	19/05/2004	19/05/2004	-	Active	NO
3	U27203WB2007PTC116231	SHREYASH ALUMINIUM & ALLOYS PRIVATE LIMITED	Director	30/05/2007	30/05/2007	27/03/2009	Active	NO

KEY EXECUTIVES

Name :	Mr. B. K. Singh
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	57.62
Directors or relatives of Directors	35.75
Other top fifty shareholders	6.63
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and importers of all types of Aluminium Conductors and PVC Aluminium Cables etc.

Products :

Products Description	Item Code No.
AAC and AAAC Conductor	76149000
ACSR Conductor	76141000
Aluminium, and Alloy Wires	76151900

• Aluminium Cable
• Auminium Conductors
• Aluminium Wire Rods
• Binding Wires
• Steel Earth Wire

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished goods

Countries :

• Nepal
• Bangladesh
• Nigeria

Imports :

Products :

Raw Material

Countries :

Singapore

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

End Users

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

60 (Approximately)

Bankers :

Bank Name	Canara Bank
Branch	L C Road Branch, 9 Lala lajpat Rai Sarani, Kolkata – 700020, West Bengal, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

· Canara Bank (Lead Bank), Prime Corporate Branch, 21 CAMAC Street, Ground Floor, Kolkata – 700017, West Bengal, India

• Union Bank of India, Canning Street Branch, 6 D R N Mukherjee Road, Kolkata- 700001, West Bengal, India

• Karnataka Bank Limited, Park Street Branch, 1, Sarojini Nadu Sarani, Kolkata – 700017, West Bengal, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Term loans from banks	13.523	0.000
Other loans and advances	(2.751)	0.810
SHORT TERM BORROWINGS
Loans repayable on demand from banks	491.382	407.559
Total	502.154	408.369

Auditors :
Name :	Jai Pandya and Associates Chartered Accountant
Address :	36, Strand Road, 3rd Floor, Kolkata – 700001, West Bengal, India
PAN No. :	AFHPP8788C
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Shreyash Aluminium and Alloys Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,480,870	Equity Shares	Rs.10/- each	Rs.34.809 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	34.809	26.396	26.396
(b) Reserves & Surplus	310.316	212.392	187.415
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	67.300	0.000
Total Shareholders’ Funds (1) + (2)	345.125	306.088	213.811
(3) Non-Current Liabilities
(a) long-term borrowings	235.089	215.089	152.617
(b) Deferred tax liabilities (Net)	3.315	2.427	2.574
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.538	0.466	0.415
Total Non-current Liabilities (3)	238.942	217.982	155.606
(4) Current Liabilities
(a) Short term borrowings	491.382	407.559	262.070
(b) Trade payables	586.790	442.356	361.648
(c) Other current liabilities	115.684	126.796	159.410
(d) Short-term provisions	18.440	12.930	24.555
Total Current Liabilities (4)	1212.296	989.641	807.683
TOTAL	1796.363	1513.711	1177.100
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	81.129	58.747	51.996
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	50.839	38.958	29.069
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	4.860	5.444	2.249
(e) Other Non-current assets	0.051	0.000	0.000
Total Non-Current Assets	136.879	103.149	83.314
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	315.881	259.705	102.628
(c) Trade receivables	986.472	840.316	745.129
(d) Cash and cash equivalents	156.272	140.969	144.332
(e) Short-term loans and advances	200.533	169.065	100.977
(f) Other current assets	0.326	0.507	0.720
Total Current Assets	1659.484	1410.562	1093.786
TOTAL	1796.363	1513.711	1177.100

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2876.692	2084.038	2099.806
	Other Income	NA	NA	NA
	TOTAL (A)	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	48.796	46.514	44.034
Less/ Add	DEPRECIATION/ AMORTISATION	(9.198)	7.993	8.480
	PROFIT/ (LOSS) BEFORE TAX	57.994	38.521	35.554
Less	TAX	18.958	12.653	11.820
	PROFIT/ (LOSS) AFTER TAX	39.036	25.868	23.734
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	93.689	68.713	44.979
Less	Income Tax	0.000	0.891	0.000
	Balance Carried to the B/S	132.725	93.690	68.713
	Earnings / (Loss) Per Share (Rs.)	11.21	9.79	8.99

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	3.487	0.876	1.138
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	(27.768)	(241.593)	(112.832)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.36	1.24	1.13
Return on Total Assets (PBT/Total Assets}	(%)	3.32	2.61	3.10
Return on Investment (ROI) (PBT/Networth)		0.17	0.13	0.17
Debt Equity Ratio (Total Debt/Networth)		2.12	2.04	1.94
Current Ratio (Current Asset/Current Liability)		1.37	1.43	1.35

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	26.396	26.396	34.809
Reserves & Surplus	187.415	212.392	310.316
Share Application money pending allotment	0.000	67.300	0.000
Net worth	213.811	306.088	345.125
long-term borrowings	152.617	215.089	235.089
Short term borrowings	262.070	407.559	491.382
Current maturities of long-term debts	1.138	0.876	3.487
Total borrowings	415.825	623.524	729.958
Debt/Equity ratio	1.945	2.037	2.115

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	2099.806	2084.038	2876.692
		(0.751)	38.035

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	2099.806	2084.038	2876.692
Profit	23.734	25.868	39.036
	1.13%	1.24%	1.36%

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	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)	Yes
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 four 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

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Loans and advances from related parties	36.998	37.629
Loans and advances from directors	187.319	176.650
Total	224.317	214.279

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10438891	01/07/2013	79,500,000.00	UNION BANK OF INDIA	CANNING STREET BRANCH, 6D, R N MUKHERJEE ROAD, KOLKATA, West Bengal - 700001, INDIA	B80402464
2	10235403	30/06/2010	600,000.00	CANARA BANK	L C ROAD BRANCH, 9 LALA LAJPAT RAI SARANI, KOLKATA, West Bengal - 700020, INDIA	A92740612
3	10046525	13/02/2007	15,000,000.00	CANARA BANK	EZRA STREET BRANCH, 9, EZRA STREET, KOLKATA, West  Bengal - 700001, INDIA	A13293014
4	90256688	18/06/2005	5,700,000.00	CANARA BANK	9; EZRA STREET, KOLKATA, West Bengal - 700001, INDIA	-
5	90254956	03/06/2015 *	2,115,000,000.00	Canara Bank	Prime Corporate Branch, Bells House, 21 Camac Street, kolkata, West Bengal - 700016, INDIA	C57691453

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipments

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.66.26
UK Pound	1	Rs.101.99
Euro	1	Rs.74.78

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	DIV
Report Prepared by :	JYTK

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
--PROFITABILIRY	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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.