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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

505005

Report Date :

23.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TEGH CABLES PRIVATE LIMITED

 

 

Registered Office :

301/302, Har Kishan Bhavan, Near Solitaire Business Park, Charat Singh Colony, Andheri (East) Mumbai - 400093, Maharashtra

Tel. No.:

91-22-40627000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

15.06.1995

 

 

Com. Reg. No.:

11-089566

 

 

Capital Investment / Paid-up Capital :

INR 20.000 Million

 

 

CIN No.:

[Company Identification No.]

U31300MH1995PTC089566

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

TIN No.:

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AABCT1718N1Z4

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCT1718N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

·         Distributor of Cables and Wire. [Confirmed by Management]

 

·         Reselling of Electrical Wires and Cables. [Registered Activity]

 

 

No. of Employees :

60 [Approximately]

 

 

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

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct 

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1995 having a satisfactory track record. It is engaged as distributor of cables and wires.

 

As per the financial record of March 2017, the company has achieved decent growth of nearly 18.42% in its revenue as compared to its previous year but has reported a thin profit margin of 1.11% during the year.

 

Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and comfortable debt coverage indicators.

 

Rating continues to derive strength from its long and established track record of its business operation backed by its well-experienced management team in cable industry.

 

Rating also considers positive feedback received from its customer (Taap Engineering) for good product quality and delivery behaviour as well as from its supplier (Polycab Wires Private Limited) for good payment behaviour and market goodwill.

 

However, these rating strengths get partially offset by susceptibility of the subject margin to volatility in raw material prices and presence of the company in a highly competitive cable industry.

 

Payment seems to be usually correct.

 

In view of aforesaid, the company can be considered for business dealing 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

 

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 31-03-2016.

 

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 23.04.2018.

 

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 PARTED BY

 

Name :

Mr. Appasaheb Laxman Patil

Designation :

Accounts Department

Contact No.:

91-9821333908

Date :

20.04.2018

 

 

LOCATIONS

 

Registered Office :

301/302, Har Kishan Bhavan, Near Solitaire Business Park, Charat Singh Colony, Andheri (East) Mumbai - 400093, Maharashtra, India

Tel. No.:

91-22-40627000

Mobile No.:

91-9821333908 [Mr. Appasaheb Laxman Patil]

Fax No.:

91-22-2831272

E-Mail :

accounts@teghcables.com

tc@teghcables.com

enquiry@teghcables.com

Website :

http://www.teghcables.com

Area :

1000 Sq. Ft.

Location :

Owned

Locality :

Commercial

 

 

Branch Office 1:

1801/7, Nav Durga Market  Bhagirath Palace,  Delhi - 110006, India  

Tel. No.:

91-11-48884000,23876868-3535

 

 

Branch Office 2:

Plot no 1, RRC Building, 1st Floor, Opposite Vidhya Asharam School, Off JN Marg, Jaipur – 302017, Rajasthan, India

Tel. No.:

91-141-2703698

Fax No.:

91-141-2703698

 

 

Warehouse 1:

Regd Office C/O Manas Compound, Mumbai-Nasik Highway, Next to Pushkar  Mella, Village-Vahuli Bhiwandi,  Thane (Dist.), Mumbai - 421302, Maharashtra, India

 

 

Warehouse 2:

C/O. All India Glass Works Pvt. Ltd., 326, Mathuradas Vasanji Road, Bail Bazar, Kurla, Mumbai - 400072, Maharashtra, India

Tel. No.:

91-22-32478972 / 32431710

Fax No.:

91-22-25094042

 

 

Warehouse 3:

H.S. No. 241, Opposite Raghunath Patil  Complex, Mankoli Naka, Bhiwandi, Thane, Maharashtra, India

 

 

Warehouse 4:

41, Futta Road, Tomar Colony Burari, New Delhi - 110084, India

Tel. No.:

91-11-31908803

 

 

DIRECTORS

 

AS ON: 31.03.2017

 

Name :

Mr. Karandeep Surinder Singh Atal

Designation :

Director

Address :

B-175 / Atal Nivas, Shahid Bhagat Singh Hsg Soc., J. B. Nagar, Andheri (East), Mumbai-400059, Maharashtra, India

Date of Birth/Age :

16.10.1985

Qualification :

B. Com

Date of Appointment :

18.04.2008

PAN No.:

AHTPA3465F

DIN No.:

01741600

Other Directorship :

CIN/FCRN

Company Name

Begin Date

U74999MH2011PTC218587

ATAL PROJECTS PRIVATE LIMITED

14/06/2011

 

 

Name :

Banpreet Atal

Designation :

Director

Address :

B-175, Bhagat Singh Colony, J B Nagar, Andheri (E), Mumbai-400059, Maharashtra, India

Date of Birth/Age :

07.01.1982

Qualification :

12 Pass

Date of Appointment :

17.01.2012

PAN No.:

AEPPA7885Q

DIN No.:

01741627

Other Directorship :

CIN/FCRN

Company Name

Begin Date

U74999MH2011PTC218587

ATAL PROJECTS PRIVATE LIMITED

29/09/2012

 

 

Name :

Mr. Gurdeep Surender Atal

Designation :

Director

Address :

175, Bhagat Singh Colony, J B Nagar, Mumbai-400059, Maharashtra, India

Date of Birth/Age :

27.09.1957

Qualification :

B.A

Date of Appointment :

15.06.1995

PAN No.:

AKAPA7245F

DIN No.:

01741884

Other Directorship :

CIN/FCRN

Company Name

Begin Date

U74999MH2011PTC218587

ATAL PROJECTS PRIVATE LIMITED

14/06/2011

 

 

Name :

Mr. Surinder Singh Jaswant Singh Atal

Designation :

Director

Address :

175, Atal Niwas, Shahid Bhagat Singh Hsg. Soc., J B Nagar, Andheri (E), Mumbai-400059, Maharashtra, India

Date of Birth/Age :

14.11.1953

Qualification :

12 Pass

Date of Appointment :

15.06.1995

PAN No.:

ABZPA7157L

DIN No.:

01747957

Other Directorship :

CIN/FCRN

Company Name

Begin Date

U74999MH2011PTC218587

ATAL PROJECTS PRIVATE LIMITED

14/06/2011

 

 

Name :

Mrs. Saheba Kaur Kohli

Designation :

Director

Address :

E-32a, Neb Valley, Neb Sarai, New Delhi-110068, India

Date of Birth/Age :

01.07.1987

Qualification :

Master MSC

Date of Appointment :

01.10.2013

DIN No.:

03475132

PAN No.:

AOPPK1222F

 

 

Name :

Komal Harjeet Singh

Designation :

Director

Address :

E-73, Naraina Vihar, Delhi-110028, India

Date of Birth/Age :

10.06.1991

Qualification :

B.com

Date of Appointment :

01.10.2013

DIN No.:

06795231

PAN No.:

CWEPS6286E

 

 

KEY EXECUTIVES

 

Name :

Mr. Appasaheb Laxman Patil

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 31.03.2017

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Surinder Singh Jaswant Singh Atal

160000

80.00

Gurdeep Surender Atal

40000

20.00

 

 

 

Total

 

200000

100.00

 

AS ON: 29.09.2017

 

Equity Share Breakup

Percentage of Holding

Category

 

Promoters (Individual/Hindu Undivided Family - Indian)

100.00

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

·         Distributor of Cables and Wire. [Confirmed by Management]

 

·         Reselling of Electrical Wires and Cables. [Registered Activity]

 

 

Products :

ITC Code No.

 

Product Descriptions

85446090

Electricals Wires and Cables

 

Products:

·         L.V. PVC and XLPE Power Cables with Copper and Aluminum Conductor

·         L.V. PVC and XLPE Control Cables with Copper Conductor

·         M.V. Power Cables upto 33W

·         EHV Cables from 66kV to 220kv

·         M.V./ L.V Aerial Bunched Cables (ABC)

·         Zero Halogen Cables

·         Fire Survival Cables, etc. 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Polycab Wires Private Limited

 

 

Exports :

 

Products :

Wires and Cables

Countries :

UK

 

 

Imports :

 

Products :

Wires and Cables

Countries :

UK

 

 

Terms :

 

Selling :

L/C and Others [NEFT/ RTGS]

 

 

Purchasing :

L/C and Others [NEFT/ RTGS]

 

 

PRODUCTION STATUS: NOT AVAILABLE 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Polycab Wires Private Limited

Name of the Person (Designation):

Mr. Rajeev Jain (Deputy Manager)

Contact Number:

91-9869117801/ 9022911902

Since how long known:

20 Years

Maximum limit dealt:

INR 850.000 Million [Yearly]

Experience:

Payment Behaviour: Good

Market Goodwill: Good

Overall: Good

Remark

They give us positive response about subject company. They satisfied with their payment behaviour and market goodwill.

 

 

Customers :

Retailers, End Users and OEMs

 

Reference:

Taap Engineering

Name of the Person (Designation):

Mr. Ashok (Purchase Department)

Contact Number:

91-9543234555

Since how long known:

20 Years

Maximum limit dealt:

--

Experience:

Products Quality: Good

Delivery Behavior: Good

Overall: Good

Remark

They gave us positive response about subject company. They are satisfied with their product quality and delivery behaviour.

 

 

No. of Employees :

60 [Approximately]

 

 

Bankers :

Bank Name:

Kotak Mahindra Bank Limited

Branch:

13/4, Ashoka Shopping Centre C T Marg, Crawford Market, Mumbai - 400001, Maharashtra, India

Person Name (with Designation):

Mr. Ganesh Phonde

Contact Number:

91-9930657680

Name of Account Holder:

TEGH CABLES PRIVATE LIMITED

Account Number:

--

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

--

Remarks:

He denied to provide any feedback on call. He told us send mail on ganeshr.dhonde@kotak.com

 

 

Bank Name:

State Bank of India

Branch:

Industrial Finance Branch, S V Road, Malad (West), Mumbai - 400064, Maharashtra, India

Person Name (with Designation):

--

Contact Number:

91-22-28823582

Name of Account Holder:

--

Account Number:

--

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

--

Remarks:

Number is continuously ringing

 

·         Punjab & Sind Bank

J. B. Nagar, Andheri Kurla Road, Andheri (East), Mumbai - 400059, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

LONG-TERM BORROWINGS

 

 

Term loans from banks

5.543

4.214

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

4.515

0.247

Loans taken for fixed assets

112.663

180.151

 

 

 

Total

 

122.721

184.612

 

 

 

Auditors :

 

Name :

J. A. Nagwekar and Company

Chartered Accountants

Address :

Jaihind Nagar, Opposite Teacher Colony Bus Stop, Khar East, Mumbai, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAAPN6338A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

INR 100/- each

INR 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

INR 100/- each

INR 20.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

31.03.2015

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

20.000

20.000

10.000

(b) Reserves & Surplus

55.626

44.421

35.630

(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)

75.626

64.421

45.630

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

68.692

50.565

44.819

(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)

68.692

50.565

44.819

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

117.178

180.398

145.693

(b) Trade payables

154.008

134.685

102.897

(c) Other current liabilities

19.660

29.335

17.543

(d) Short-term provisions

23.461

24.924

13.611

Total Current Liabilities (4)

314.307

369.342

279.744

 

 

 

 

TOTAL

458.625

484.328

370.193

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

13.800

10.357

5.131

(ii) Intangible Assets

0.024

0.053

0.083

(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)

0.342

0.440

0.596

(d)  Long-term Loan and Advances

2.155

1.637

2.082

(e) Other Non-current assets

0.027

0.041

0.055

Total Non-Current Assets

16.348

12.528

7.947

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

214.545

198.400

158.688

(c) Trade receivables

204.741

240.022

185.586

(d) Cash and cash equivalents

4.992

13.429

3.265

(e) Short-term loans and advances

17.999

19.949

14.707

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

442.277

471.800

362.246

 

 

 

 

TOTAL

458.625

484.328

370.193

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

 

Revenue from Operations

1010.674

853.445

650.175

 

 

Other Income

2.168

3.045

1.231

 

 

TOTAL                                    

1012.842

856.490

651.406

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

930.548

811.437

633.578

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(16.145)

(39.711)

(46.556)

 

 

Employees benefits expense

22.335

20.246

16.679

 

 

Other expenses

36.446

27.929

21.118

 

 

TOTAL                                    

973.184

819.901

624.819

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

39.658

36.589

26.587

 

 

 

 

 

Less

FINANCIAL EXPENSES                       

20.275

21.700

15.174

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION              

19.383

14.889

11.413

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

2.464

1.756

1.470

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX                        

16.919

13.133

9.943

 

 

 

 

 

Less

TAX                                                                 

5.715

4.342

3.442

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX               

11.204

8.791

6.501

 

 

 

 

 

 

Earnings/ (Loss) Per Share (INR)

56.02

43.96

65.01

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Net cash flows from (used in) operations

(15.094)

5.558

17.886

 

 

 

 

Net cash flows from (used in) operating activities

(20.711)

1.372

14.392

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

73.94

102.65

104.19

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

4.94

3.56

3.50

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

60.41

60.58

59.28

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.18

0.18

0.17

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

2.87

3.51

5.10

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.84

0.87

0.88

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

2.46

3.59

4.18

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

4.16

5.73

6.13

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.18

0.16

0.11

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.96

1.69

1.75

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

1.11

1.03

1.00

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

2.44

1.82

1.76

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

14.82

13.65

14.25

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.41

1.28

1.29

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.72

0.74

0.73

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.16

0.13

0.12

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

9.29

11.55

19.05

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.41

1.28

1.29

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

10.000

20.000

20.000

Reserves & Surplus

35.630

44.421

55.626

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

45.630

64.421

75.626

 

 

 

 

long-term borrowings

44.819

50.565

68.692

Short term borrowings

145.693

180.398

117.178

Total borrowings

190.512

230.963

185.870

Debt/Equity ratio

4.175

3.585

2.458

 

 

 

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

650.175

853.445

1010.674

 

 

31.264

18.423

 

 

 

 

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

650.175

853.445

1010.674

Profit

6.501

8.791

11.204

 

1.00%

1.03%

1.11%

 

 

 

 

 

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

Yes

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

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

 

INDEX OF CHARGES

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

G42330910

10442150

STATE BANK OF INDIA

16/07/2013

30/03/2017

-

250000000.0

INDUSTRIAL FINANCE BRANCH,S V ROAD, NEAR CHINCHOLI SIGNAL, MALAD WEST,MUMBAIMH400064IN

2

G54427737

10417716

KOTAK MAHINDRA BANK LIMITED

05/04/2013

05/09/2017

-

60000000.0

27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN

3

C33227273

10165645

PUNJAB & SIND BANK

12/06/2009

28/04/2010

17/11/2014

100000000.0

J. B. NAGAR, ANDHERI KURLA ROADANDHERI (E)MUMBAIMH400059IN

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

LONG-TERM BORROWINGS

 

 

Rupee term loans from others

43.000

43.000

Loans and advances from others

20.149

3.351

 

 

 

Total

 

63.149

46.351

 

STATE OF COMPANY’S AFFAIRS AND FUTURE OUTLOOK

 

For the year the business operations of the Company comprises of Reselling of Electricals Wires & Cables.

 

During the year the Company’s turnover has increased to INR 1010.674 Million in the financial year 2016-17 from INR 853.445 Million in the year 2015-16. There is 18.42% increase in turnover over the last year. The net profit before tax for financial year 2016-17 is INR 16.919 Million as compared to INR 13.133 Million for the financial year 2015-16, which shows increase of 28.82% over last year. Due to increase in turnover there is increase in profitability.

 

In the Financial Year 2016-17, there was no adverse effect of Demonetizing on the company’s sales orders. At the beginning of the financial year 2017-18, there was slowdown in sales for the month of July2017 & August 2017 due to GST implemented by Government of India.


FIXED ASSETS:

 

Tangible Assets

 

·         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

INR

US Dollar

1

INR 66.02

UK Pound

1

INR 92.73

Euro

1

INR 81.46

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

NIS

 

 

Report Prepared by :

ARC

           

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

YES

--AFFILIATION

YES/NO

NO

--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)

 

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.