|
|
|
MIRA INFORM REPORT
|
Report No. : |
501757 |
|
Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
POLYCAB WIRES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-554, Greater Kailash –II, New Delhi – 110048 |
|
Tel. No.: |
91-11-29228574 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
10.01.1996 |
|
|
|
|
Com. Reg. No.: |
55-266483 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1412.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300DL1996PTC266483 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0397003498 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAACP6474E1ZF |
|
|
|
|
TIN No.: |
07020364308 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP6474E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of L.T. Power/Control, Instrumentation, House Wires, Flexible, Auto/Battery, Submersible, H.T. Cables, Rubber Cables and Other Communication Cables and also in the business of Engineering, Procurement, Construction (EPC) projects, Electric Wiring Accessories and Electric Appliances. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1996. It is engaged in the
business of manufacture and sale electric wires and cables. Subject’s clients includes, ABB (ASEA Brown Boveri), Cegelec, General
Electric, Punj Lloyd, Siemens, Technip, etc. For the financial year ended 2017, the company has achieved 5.76%
growth in its revenue as compared to the previous year’s revenue and has
reported an average profit margin of 3.97%. The sound financial position of the company is marked by the robust
networth position with satisfactory liquidity position and low debt balance
sheet profile. Trade relations are reported as fair. Business is active. Payments are
seems to be regular and as per commitment. In view of aforesaid, 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Long term loans= AA- |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
03.05.2017 |
|
|
|
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Short term loans= A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
03.05.2017 |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 05.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED BY
|
Name : |
Ms. Sonia Sharma |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9871452269 |
LOCATIONS
|
Registered Office : |
E-554, Greater Kailash –II, New Delhi – 110048, India |
|
Tel. No.: |
91-11-29228574 |
|
Mobile No.: |
91-9871452269 [Ms. Sonia Sharma] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Polycab House, 1st Floor, 771, Pandit Satwalekar Marg, Mahim (West), Mumbai – 400 016, Maharashtra, India |
|
Tel. No.: |
91-22-24327070–74/ 67351400 |
|
Fax No.: |
91-22-24327075 |
|
|
|
|
Factory 1 : |
74/8-11, Daman Industrial Estate, Village Kadaiya, Daman -
396210,
Daman and Diu (U.T), India |
|
|
|
|
Factory 2 : |
Kh No.124 Khatuni-1415F-1420F Vill-Raipur Pargana -
Bhargwanpur, Roorkee, Haridwar-247667, Uttrakhand, India |
|
|
|
|
Factory 3 : |
Unit. 4, Plot No. 67/72, Village: Nurpura, Taluka Halol, District Panchmahal - 389350, Gujarat, India |
|
Tel. No.: |
91-2676-32086/ 326801 |
|
|
|
|
Factory 4 : |
E-56, MIDC, Ambad, Nashik – 422010, Maharashtra, India |
|
|
|
|
Factory 5 : |
Plot No. 38/1-6,414-9, 49/4, 43/1-3, 45/1-2/52/1-2-53/1, 3, 4, Daman
Industries Estate, Kadaiya Daman – 396210, Daman and Diu (U.T), India |
|
|
|
|
Factory 6 : |
55/1, 65/1, Rameshwar Road, Baska Halol, District Panchmahal - 389350,
Gujarat, India |
|
|
|
|
Factory 7 : |
Plot No.353, 1st Floor, Plot No: 352/3 355p Near Kachigam Char Rasta,
Kachigam Daman - 396210, Daman and Diu (U.T), India |
|
|
|
|
Branch Offices : |
Located At · Andhra Pradesh · Assam · Bihar · Chandigarh · Chhattisgarh · Delhi · Gujarat · Himachal Pradesh · Jharkhand · Karnataka · Kerala · Madhya Pradesh · Maharashtra · Odisha · Punjab · Rajasthan · Tamilnadu · Uttrakhand · Uttar Pradesh [91-120-4848550] · West Bengal |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Inder Thakurdas Jaisinghani |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
17/6, Khiaram Bhavan R.A. Kidwai Road, Wadala, Mumbai - 400003,
Maharashtra, India |
||||||||
|
Date of Birth/Age : |
29.03.1952 |
||||||||
|
Qualification: |
H.S.C |
||||||||
|
Date of Appointment : |
20.12.1997 |
||||||||
|
PAN No. : |
AAAPJ9287G |
||||||||
|
DIN No.: |
00309108 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Ramakrishnan Ramamurthi |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
Flat No. A-44, Kalptaru Residency, Plot No. 107, Kamani Road, Mumbai – 400022, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
31.07.1961 |
||||||||
|
Qualification: |
BSC (Honours), PGD in Business Management |
||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||
|
PAN No. : |
ADWPR4815R |
||||||||
|
DIN No.: |
00120246 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Bajaj Shyam Lal |
||||||||
|
Designation : |
Whole-time Director |
||||||||
|
Address : |
Flat No 1601,16th Floor Mahindra Angelica, S.V Road, Goregaon (West), Mumbai- 400062, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
14.11.1953 |
||||||||
|
Qualification: |
CA |
||||||||
|
Date of Appointment : |
15.12.2016 |
||||||||
|
DIN No.: |
02734730 |
||||||||
|
Other
Directorship :
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Ajay Thakurdas Jaisinghani |
||||||||
|
Designation : |
Whole Time Director |
||||||||
|
Address : |
17/6, Khaira, Bhavan, R.A Kidwai Road, Wadala, Mumbai – 400031,
Maharashtra, India |
||||||||
|
Date of Birth/Age : |
12.01.1954 |
||||||||
|
Qualification: |
B.Com |
||||||||
|
Date of Appointment : |
27.04.2006 |
||||||||
|
PAN No. : |
AACPJ2099J |
||||||||
|
DIN No.: |
00276588 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Ramesh Thakurdas Jaisinghani |
||||||||
|
Designation : |
Whole-Time Director |
||||||||
|
Address : |
701/2, Salisbury Park, 82, Hill, Bandra (West), Mumbai – 400052, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
07.05.1956 |
||||||||
|
Qualification: |
B.Com |
||||||||
|
Date of Appointment : |
10.01.1996 |
||||||||
|
PAN No. : |
AACPJ2100L |
||||||||
|
DIN No.: |
00309314 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Lemaire Claude Michel |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
64 Rue De Bellechasse Paris 75007 FR |
||||||||
|
Date of Birth/Age : |
21.12.1946 |
||||||||
|
Qualification: |
Graduate |
||||||||
|
Date of Appointment : |
08.03.2010 |
||||||||
|
DIN No.: |
02879461 |
||||||||
KEY EXECUTIVES
|
Name : |
Mr. Narayana Sai Subramaniam |
|
Designation : |
Company Secretary |
|
Address : |
701, Manisha Garden, Navghar Road, Mulund (East), Mumbai-400081, Maharashtra,
India |
|
Date of Birth/Age : |
06.07.1956 |
|
Date of Appointment : |
14.12.2012 |
|
PAN No.: |
ABKPN9636N |
|
|
|
|
Name : |
Ms. Sonia Sharma |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 28.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Inder T. Jaisinghani |
|
30018156 |
|
Ramesh T. Jaisinghani |
|
24001276 |
|
Ajay T. Jaisinghani |
|
24003820 |
|
Girdhari T. Jaisinghani |
|
23999356 |
|
Bharat A. Jaisinghani |
|
6001992 |
|
Nikhil R. Jaisinghani |
|
6001992 |
|
Anil Hariani |
|
5998800 |
|
Kartik Shah |
|
4000 |
|
International Finance Corporation |
|
21176446 |
|
|
|
|
|
Total |
|
141205838 |
AS ON: 28.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
85.00 |
|
Public/Other than promoters – Foreign Institutional
Investors |
15.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of L.T. Power/Control, Instrumentation, House Wires, Flexible, Auto/Battery, Submersible, H.T. Cables, Rubber Cables and Other Communication Cables and also in the business of Engineering, Procurement, Construction (EPC) projects, Electric Wiring Accessories and Electric Appliances. (Registered Activity) |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
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 : [As per Indirect Source-Website] |
· ABB (ASEA Brown Boveri) · Jagal · SAFCO · Punj Lloyd · Sterling and Wilson · Cegelec · Dodsal · Tecnimont Private Limited · GASCO · Technip S.A. · Siemens AG |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Vadodara - 390015, Gujarat, India · State Bank of India Industrial Finance Branch, Sakinaka, Mumbai-400072, Maharashtra, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution : |
· SBICAP Trustee Company Limited 202, Maker Tower E, Cuffe Parade, Colaba, Mumbai-400005,
Maharashtra, India |
|
Auditors : |
|
|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN No.: |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company : |
· Polycab Wires Italy SRL (PWISRL) · Jaisingh Wires FZE (JWFZE) · Tirupati Reels Private Limited, India [U20232DL2015PTC275797] · Dowells Cable Accessories Private Limited, India [U28910MH2015PTC270585] |
|
|
|
|
Enterprises owned or significantly
influenced by key managerial personnel : |
· Jaisingh Finance Private Limited (JFPL) · MicroCab Industries & Logistics Private Limited (MILPL) · AK Enterprises |
|
|
|
|
Joint Ventures : |
· Ryker Base Private Limited, India [U36999DL2016PTC303057] · Techno Electromech Private Limited, India [U31901GJ2011PTC063797] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
186250000 |
Equity Shares |
INR 10/- each |
INR 1862.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
141205838 |
Equity Shares |
INR 10/- each |
INR 1412.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1412.100 |
1412.100 |
1412.060 |
|
(b) Reserves & Surplus |
18634.900 |
16407.200 |
13515.060 |
|
(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) |
20047.000 |
17819.300 |
14927.120 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1535.800 |
994.300 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
310.500 |
210.800 |
203.700 |
|
(c)
Other long term liabilities |
96.700 |
108.600 |
0.000 |
|
(d)
long-term provisions |
121.600 |
83.700 |
52.320 |
|
Total
Non-current Liabilities (3) |
2064.600 |
1397.400 |
256.020 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
6573.700 |
6947.900 |
5274.640 |
|
(b)
Trade payables |
13548.300 |
10695.900 |
9342.250 |
|
(c)
Other current liabilities |
2571.700 |
1459.100 |
781.500 |
|
(d)
Short-term provisions |
252.000 |
229.900 |
598.970 |
|
Total
Current Liabilities (4) |
22945.700 |
19332.800 |
15997.360 |
|
|
|
|
|
|
TOTAL |
45057.300 |
38549.500 |
31180.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
11065.200 |
9777.600 |
7675.740 |
|
(ii)
Intangible Assets |
60.300 |
66.600 |
50.900 |
|
(iii)
Capital work-in-progress |
1648.800 |
1316.700 |
1678.770 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
369.900 |
42.500 |
138.780 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
555.240 |
|
(e)
Other Non-current assets |
1144.700 |
1023.100 |
80.040 |
|
Total
Non-Current Assets |
14288.900 |
12226.500 |
10179.470 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
15173.200 |
9799.400 |
8994.650 |
|
(c)
Trade receivables |
11963.300 |
13496.600 |
8809.930 |
|
(d)
Cash and cash equivalents |
281.100 |
448.900 |
99.540 |
|
(e)
Short-term loans and advances |
21.900 |
128.600 |
2979.080 |
|
(f)
Other current assets |
3328.900 |
2449.500 |
117.830 |
|
Total
Current Assets |
30768.400 |
26323.000 |
21001.030 |
|
|
|
|
|
|
TOTAL |
45057.300 |
38549.500 |
31180.500 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
60490.400 |
57197.300 |
43218.960 |
|
|
|
Other Income |
617.100 |
122.800 |
272.850 |
|
|
|
TOTAL |
61107.500 |
57320.100 |
43491.810 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
41619.200 |
35866.600 |
32307.240 |
|
|
|
Purchases of Stock-in-Trade |
1925.200 |
2968.800 |
1111.030 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2193.500) |
(586.600) |
(1357.110) |
|
|
|
Employees benefits expense |
2266.600 |
2038.900 |
1334.180 |
|
|
|
Other expenses |
11719.800 |
12036.400 |
5866.760 |
|
|
|
TOTAL |
55337.300 |
52324.100 |
39262.100 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
5770.200 |
4996.000 |
4229.710 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
824.500 |
1160.400 |
1049.850 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4945.700 |
3835.600 |
3179.860 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1274.200 |
1111.200 |
885.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3671.500 |
2724.400 |
2294.030 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1272.300 |
827.100 |
793.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2399.200 |
1897.300 |
1500.390 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
16.99 |
13.44 |
10.63 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
333.800 |
0.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
4017.300 |
3084.900 |
2623.030 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
3015.600 |
1897.100 |
2065.230 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
72.19 |
86.13 |
74.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.06 |
4.24 |
4.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
113.57 |
100.53 |
102.04 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.38 |
0.51 |
0.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.45 |
0.45 |
0.45 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.55 |
0.53 |
0.51 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.42 |
0.45 |
0.35 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.14 |
1.08 |
1.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.64 |
0.63 |
0.63 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
7.00 |
4.31 |
4.03 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.97 |
3.32 |
3.47 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.32 |
4.92 |
4.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.97 |
10.65 |
10.05 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.34 |
1.36 |
1.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.68 |
0.85 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.44 |
0.46 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.98 |
5.62 |
3.74 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.34 |
1.36 |
1.31 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1412.060 |
1412.100 |
1412.100 |
|
Reserves & Surplus |
13515.060 |
16407.200 |
18634.900 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
14927.120 |
17819.300 |
20047.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
994.300 |
1535.800 |
|
Short term borrowings |
5274.640 |
6947.900 |
6573.700 |
|
Current Maturities of Long
term debt |
0.000 |
0.000 |
333.800 |
|
Total
borrowings |
5274.640 |
7942.200 |
8443.300 |
|
Debt/Equity
ratio |
0.353 |
0.446 |
0.421 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
43218.960 |
57197.300 |
60490.400 |
|
|
|
32.343 |
5.757 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
43218.960 |
57197.300 |
60490.400 |
|
Profit |
1500.390 |
1897.300 |
2399.200 |
|
|
3.47% |
3.32% |
3.97% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1412.100 |
1412.100 |
|
(b) Reserves & Surplus |
|
18630.100 |
16444.300 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
30.500 |
28.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
20072.700 |
17884.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
1617.700 |
1008.500 |
|
(b) Deferred tax liabilities (Net) |
|
407.400 |
319.200 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
121.600 |
83.700 |
|
Total
Non-current Liabilities (3) |
|
2146.700 |
1411.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
6590.300 |
6947.900 |
|
(b)
Trade payables |
|
13576.800 |
10573.600 |
|
(c)
Other current liabilities |
|
2593.100 |
1467.900 |
|
(d)
Short-term provisions |
|
258.000 |
229.900 |
|
Total
Current Liabilities (4) |
|
23018.200 |
19219.300 |
|
|
|
|
|
|
TOTAL |
|
45237.600 |
38515.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
11223.500 |
9783.700 |
|
(ii)
Intangible Assets |
|
60.300 |
66.600 |
|
(iii)
Capital work-in-progress |
|
1648.800 |
1380.800 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
328.100 |
0.900 |
|
(c) Deferred tax assets
(net) |
|
0.800 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
0.000 |
0.000 |
|
(e)
Other Non-current assets |
|
1154.200 |
1029.200 |
|
Total
Non-Current Assets |
|
14415.700 |
12261.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
15198.100 |
9804.200 |
|
(c)
Trade receivables |
|
11973.600 |
13491.600 |
|
(d)
Cash and cash equivalents |
|
301.600 |
507.300 |
|
(e)
Short-term loans and advances |
|
15.400 |
10.300 |
|
(f)
Other current assets |
|
3333.200 |
2440.500 |
|
Total
Current Assets |
|
30821.900 |
26253.900 |
|
|
|
|
|
|
TOTAL |
|
45237.600 |
38515.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
60509.400 |
57192.900 |
|
|
|
Other Income |
|
618.500 |
118.600 |
|
|
|
TOTAL |
|
61127.900 |
57311.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
41577.100 |
35611.700 |
|
|
|
Purchases of Stock-in-Trade |
|
1925.200 |
3206.700 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(2195.100) |
(586.600) |
|
|
|
Employees benefits expense |
|
2291.000 |
2060.600 |
|
|
|
Other expenses |
|
11730.600 |
12040.700 |
|
|
|
TOTAL |
|
55328.800 |
52333.100 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
5799.100 |
4978.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
831.800 |
1160.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
4967.300 |
3817.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1278.800 |
1111.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
3688.500 |
2706.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
1282.900 |
827.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
2405.600 |
1879.600 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
16.99 |
13.19 |
|
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G32050536 |
100065408 |
SBICAP TRUSTEE COMPANY LIMITED |
17/11/2016 |
23/12/2016 |
- |
4077974000.0 |
202, MAKER TOWER,E, CUFFE PARADE, COLABAMUMBAIMH400025IN |
|
2 |
G62384466 |
10523842 |
SBICAP TRUSTEE COMPANY LIMITED |
10/09/2014 |
16/11/2017 |
- |
25300000000.0 |
202, Maker Tower E,Cuffe Parade, ColabaMumbaiMH400005IN |
|
3 |
Y10255178 |
90155408 |
STATE BANK OF INDIA |
29/10/2003 |
- |
- |
900000000.0 |
INDUSTRIAL FINANCE BRANCHSAKINAKAMUMBAIMH400072IN |
|
4 |
Y10258849 |
90159079 |
STATE BANK OF INDIA |
28/12/2001 |
- |
- |
499000000.0 |
INDUSTRIAL FINANCE BRANCHSAKINAKAMUMBAIMH400072IN |
|
5 |
Y10258761 |
90158991 |
STATE BANK OF INDIA |
27/03/2000 |
- |
- |
275000000.0 |
INDUSTRIAL FINANCE BRANCHSAKINAKAMUMBAIMH400072IN |
|
6 |
Y10258760 |
90158990 |
STATE BANK OF INDIA |
25/03/2000 |
- |
- |
260000000.0 |
INDUSTRIAL FINANCE BRANCHSAKINAKAMUMBAIMH400072IN |
|
7 |
C49214984 |
90158914 |
State Bank of India |
07/12/1998 |
10/01/2015 |
- |
695200000.0 |
Industrial Finance Branch, 194, Sir M.V. RoadW.E.Highway, Metro Junction, Andheri (E)MumbaiMH400069IN |
|
8 |
G03790987 |
10004057 |
ICICI BANK |
05/05/2006 |
- |
05/05/2016 |
2450000000.0 |
NARIMAN POINTMUMBAIMH400021IN |
|
9 |
G03790920 |
10097759 |
ICICI BANK LIMITED |
04/03/2008 |
- |
05/05/2016 |
3200000000.0 |
ICICI CENTER, 163, HT PAREKH MARG,BACKBAY RECLAMATION, CHURCHGATEMUMBAIMH400020IN |
|
10 |
G03218336 |
80044806 |
ICICI BANK LIMITED |
28/10/2004 |
18/03/2010 |
05/05/2016 |
6000000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
CORPORATE INFORMATION
The Company is a private company (CIN- U31300DL1996PTC266483) domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is one of the largest manufacturers of L.T. power/control, instrumentation, house wires, flexible, auto/battery, submersible, H.T. cables, rubber cables and other communication cables. The Company is also in the business of Engineering, Procurement, Construction (EPC) projects, Electric Wiring Accessories & Electric Appliances. The Company caters to both domestic and international markets.
REVIEW OF OPERATIONS
During the year, the Company’s turnover increased to INR 61107.500 Million as against INR 57320.100 Million in FY 2015-16 showing a growth of 6.6 %. , turnover from Cables and Wires stood at INR 56217.200 Million as compared to INR 52328.500 Million in FY 2015-16, showing a growth of 7.43 %, Consumer Division contributed a turnover of INR 3356.000 Million as compared to INR 2166.800 Million in FY 2015-16 and EPC division contributed a turnover of INR 1534.300 Million as compared to INR 2824.800 Million in FY 2015-16.
Profit before Tax stood at INR 3671.500 Million as compared to INR 2724.400 Million in the preceding year and Net Profit stood at INR 2399.200 Million as compared to INR 1897.300 Million in the preceding year.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
·
Air Conditioner
· Electrical Installation
· Leasehold Land
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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
UK Pound |
1 |
INR 91.49 |
|
Euro |
1 |
INR 79.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.