|
|
|
MIRA INFORM REPORT
|
Report No. : |
484462 |
|
Report Date : |
09.01.2018 |
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) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
10.01.1996 |
|
|
|
|
Com. Reg. No.: |
55-266483 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1412.060 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300DL1996PTC266483 |
|
|
|
|
IEC No.: |
0397003498 |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP6474E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the business of manufacture and sale electric wires and cables (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. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. For the financial year ended 2016, the company has achieved decent growth in its revenue of 20.73% as compared to the previous year revenue and has an average profit margin of 3.21%. The sound financial position of the company is marked by the above average networth position with satisfactory liquidity position and low debt balance sheet profile. Trade relations are reported as fair. Business is active. Payments are reported 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 (31.03.2017) |
Current Rating (30.06.2017) |
|
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
31-03-2016.
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 09.01.2018
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 DENIED BY
|
Name : |
Ms. Sonia Sharma |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9871452269 |
|
Date : |
08.01.2018 |
LOCATIONS
|
Registered Office : |
E-554, Greater Kailash –II, New Delhi – 110048, India |
|
Tel. No.: |
91-11-29228574 |
|
Mobile No.: |
91-9867436989 (Mr. S. S. Narayana) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Corporate Office 1 : |
Polycab House, 1st Floor, 771, Pandit Satwalekar Marg, Mahim (West), Mumbai – 400 016, Maharashtra, India |
|
Tel. No.: |
91-22-24327070 – 75 / 24329118/ 24362199 / 673516466 / 67351400 |
|
Fax No.: |
91-22-24327075/ 24322141 |
|
Location : |
Owned |
|
|
|
|
Corporate Office 2 : |
Located at: · Noida |
|
Tel. No.: |
91-120-4848550 |
|
|
|
|
Factory 1 : |
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, India |
|
Tel. No.: |
91-260-3291031 / 3291070 / 2220422 / 25 / 28 |
|
Fax No.: |
91-260-2221009 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
55/1, 65/1, Rameshwar Road, Baska Halol, District Panchmahal - 389350,
Gujarat, India |
|
|
|
|
Factory 3 : |
Unit. 4, Plot No. 67/72, Village: Nurpura, Taluka Halol, District Panchmahal - 389350, Gujarat, 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 · Uttar Pradesh · 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 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.12.1997 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No. : |
AAAPJ9287G |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00309108 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No. : |
AACPJ2100L |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00120246 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Bajaj Shyam Lal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
D 1, Ambav Garh, Udaipur-313022, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.11.1953 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.04.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No. : |
AACPJ2099J |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00276588 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.01.1996 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00309314 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Lemaire Claude Michel |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
64, Rue Dr. Bellecgasse – 75007, Paris |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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, Maharashtra,
India |
|
Date of Birth/Age : |
06.07.1956 |
|
Date of Appointment : |
14.12.2012 |
|
PAN No.: |
ABKPN9636N |
|
|
|
|
Name : |
Ms. Sonia |
|
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 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
85.00030431 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
0.00283274 |
|
Public/Other than promoters (Foreign institutional investors) |
14.99686295 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of manufacture and sale electric wires and cables (Registered Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Customers (As per indirect sources) : |
· 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, ICICI Center, 163, H T Parekh
Marg, Backbay Reclamation, Churchgate, Mumbai-400020, Maharashtra, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ALDPM7994D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiaries (As on 2017) : |
· Tirupti Reels Private Limited CIN No.: U20232DL2015PTC275797 ·
Dowells Cable Accessories Private Limited CIN No.: U28910MH2015PTC270585 ·
Polycab Wires Italy SRL ·
Jaisingh Wires FZE |
|
|
|
|
Joint Venture (As on 2017) : |
·
Ryker Base Private Limited ·
Tehno Electromech Private Limited |
|
|
|
|
Subsidiaries (As on 31.03.2016) : |
· Jaisingh Wires Private Limited (JWPL) · Polycab Wires Industries Private Limited (PWIPL) · Polycab Electrical Industries Private Limited (PEIPL) · Polycab Electronics Private Limited (PEPL) · Datar Nouveau Energietechnik Limited (DNEL) |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives (As on 31.03.2016) : |
· Jaisingh Finance Private Limited (JFPL) · MicroCab Industries and Logistics Private Limited (MILPL) |
CAPITAL STRUCTURE
As on 28.09.2017
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 1412.058
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1412.060 |
1412.060 |
706.030 |
|
(b) Reserves and Surplus |
16237.680 |
13515.060 |
12915.460 |
|
(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) |
17649.740 |
14927.120 |
13621.490 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
994.330 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
210.160 |
203.700 |
265.760 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
70.980 |
52.320 |
31.990 |
|
Total Non-current
Liabilities (3) |
1275.470 |
256.020 |
297.750 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
6753.430 |
5274.640 |
4449.130 |
|
(b) Trade
payables |
10757.800 |
9342.250 |
6200.470 |
|
(c) Other
current liabilities |
1362.410 |
781.500 |
910.270 |
|
(d) Short-term
provisions |
302.990 |
598.970 |
292.310 |
|
Total Current
Liabilities (4) |
19176.630 |
15997.360 |
11852.180 |
|
|
|
|
|
|
TOTAL |
38101.840 |
31180.500 |
25771.420 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9580.010 |
7675.740 |
6951.290 |
|
(ii)
Intangible Assets |
66.650 |
50.900 |
24.480 |
|
(iii) Tangible assets capital
work-in-progress |
1316.660 |
1678.770 |
1134.570 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
48.350 |
138.780 |
129.340 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
534.320 |
555.240 |
1238.560 |
|
(e) Other
Non-current assets |
358.320 |
80.040 |
67.030 |
|
Total Non-Current
Assets |
11904.310 |
10179.470 |
9545.270 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
9764.370 |
8994.650 |
5780.260 |
|
(c) Trade
receivables |
13389.120 |
8809.930 |
8281.240 |
|
(d) Cash and bank
balances |
448.920 |
99.540 |
270.900 |
|
(e)
Short-term loans and advances |
2562.690 |
2979.080 |
1845.630 |
|
(f) Other
current assets |
32.430 |
117.830 |
48.120 |
|
Total
Current Assets |
26197.530 |
21001.030 |
16226.150 |
|
|
|
|
|
|
TOTAL |
38101.840 |
31180.500 |
25771.420 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
52178.330 |
43218.960 |
38423.180 |
|
|
Other Income |
107.990 |
272.850 |
(158.520) |
|
|
TOTAL |
52286.320 |
43491.810 |
38264.660 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
34657.230 |
32307.240 |
30075.490 |
|
|
Purchases of
Stock-in-Trade |
2968.760 |
1111.030 |
139.330 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(395.790) |
(1357.110) |
(185.120) |
|
|
Employee benefit expense |
2071.910 |
1334.180 |
1139.380 |
|
|
Other expenses |
8315.440 |
5866.760 |
4117.570 |
|
|
TOTAL |
47617.550 |
39262.100 |
35286.650 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4668.770 |
4229.710 |
2978.010 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1111.190 |
1049.850 |
904.630 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3557.580 |
3179.860 |
2073.380 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1069.600 |
885.830 |
625.790 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2487.980 |
2294.030 |
1447.590 |
|
|
|
|
|
|
|
Less |
TAX |
813.810 |
793.640 |
515.180 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1674.170 |
1500.390 |
932.410 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2999.820 |
2670.830 |
2672.890 |
|
|
TOTAL EARNINGS |
2999.820 |
2670.830 |
2672.890 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
14390.450 |
7365.240 |
6304.640 |
|
|
Components and spare
parts |
33.720 |
25.850 |
16.500 |
|
|
Capital Goods |
384.480 |
558.160 |
107.300 |
|
|
TOTAL IMPORTS |
14808.650 |
7949.250 |
6428.440 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
11.86 |
10.63 |
6.60 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
3566.780 |
2623.030 |
3672.130 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
93.66 |
74.40 |
78.67 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.90 |
4.91 |
4.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
104.36 |
102.04 |
74.90 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.48 |
0.47 |
0.52 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.43 |
0.45 |
0.37 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.51 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.44 |
0.35 |
0.33 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.09 |
1.07 |
0.87 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.62 |
0.63 |
0.60 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.20 |
4.03 |
3.29 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
3.21 |
3.47 |
2.43 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.39 |
4.81 |
3.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.49 |
10.05 |
6.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.37 |
1.31 |
1.37 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.86 |
0.75 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.46 |
0.48 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.49 |
3.74 |
6.30 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.37 |
1.31 |
1.37 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
706.030 |
1412.060 |
1412.060 |
|
Reserves & Surplus |
12915.460 |
13515.060 |
16237.680 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
13621.490 |
14927.120 |
17649.740 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
994.330 |
|
Short term borrowings |
4449.130 |
5274.640 |
6753.430 |
|
Total
borrowings |
4449.130 |
5274.640 |
7747.760 |
|
Debt/Equity
ratio |
0.327 |
0.353 |
0.439 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
38423.180 |
43218.960 |
52178.330 |
|
|
|
12.481 |
20.730 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
38423.180 |
43218.960 |
52178.330 |
|
Profit/ (Loss) |
932.410 |
1500.390 |
1674.170 |
|
|
2.43
% |
3.47
% |
3.21
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1412.060 |
1412.060 |
|
(b) Reserves and Surplus |
|
16275.470 |
14805.910 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
27.950 |
0.060 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
17687.530 |
16217.970 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1008.580 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
209.990 |
171.350 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
70.980 |
62.830 |
|
Total Non-current
Liabilities (3) |
|
1289.550 |
234.180 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
6753.430 |
5455.040 |
|
(b) Trade
payables |
|
10604.830 |
9629.100 |
|
(c) Other
current liabilities |
|
1371.110 |
879.310 |
|
(d) Short-term
provisions |
|
302.990 |
706.040 |
|
Total Current
Liabilities (4) |
|
19032.360 |
16669.490 |
|
|
|
|
|
|
TOTAL |
|
38037.390 |
33121.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
9586.060 |
8195.450 |
|
(ii) Intangible Assets |
|
67.360 |
51.980 |
|
(iii) Tangible assets capital work-in-progress |
|
1380.840 |
1772.090 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term loans and advances |
|
539.880 |
569.120 |
|
(e) Other Non-current assets |
|
358.860 |
80.850 |
|
Total Non-Current
Assets |
|
11933.200 |
10669.690 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
9769.190 |
9039.810 |
|
(c) Trade
receivables |
|
13384.170 |
10852.210 |
|
(d) Cash and bank balances |
|
507.360 |
269.840 |
|
(e) Short-term loans and advances |
|
2422.170 |
2169.830 |
|
(f) Other current assets |
|
21.300 |
120.320 |
|
Total
Current Assets |
|
26104.190 |
22452.010 |
|
|
|
|
|
|
TOTAL |
|
38037.390 |
33121.700 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
52174.060 |
47081.160 |
|
|
Other Income |
|
103.730 |
111.530 |
|
|
TOTAL |
|
52277.790 |
47192.690 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
34412.200 |
33721.250 |
|
|
Purchases of
Stock-in-Trade |
|
3206.660 |
2171.690 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(416.250) |
(1193.310) |
|
|
Employee benefit expense |
|
2093.580 |
1618.870 |
|
|
Other expenses |
|
8319.730 |
6362.310 |
|
|
TOTAL |
|
47615.920 |
42680.810 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
4661.870 |
4511.880 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
1111.250 |
1084.600 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3550.620 |
3427.280 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1069.610 |
975.330 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
2481.010 |
2451.950 |
|
|
|
|
|
|
|
Less |
TAX |
|
813.640 |
848.710 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
1667.370 |
1603.240 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
11.81 |
11.35 |
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 |
No |
|
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 |
REVIEW OF OPERATIONS:
(As on 31.03.2016)
The global economy in 2015-16 faced challenges such as declining commodity prices, subdued growth and fluctuating exchanging rates. Against this backdrop and declining growth trend by emerging markets, India emerged as a contrarian in 2015-16. The GDP growth of India in 2015-16 at constant prices was estimated to be 7.6% against the 7.2% growth recorded the previous year.
The growth in gross fixed capital formation increased to 3.9% in 2015-16 at constant prices.
The company capitalized well on the economy’s growth story despite commodity prices being subdued in the year supported by a higher volume growth. The company achieved turnover of INR 52178.330 Million in 2015-16, which is 20.73% over the previous year.
During the year under review, Consumer Business segment grew by over 60% on a lower base.
Company’s EBITDA in 2015-16 was INR 4668.770 Million against INR 4229.710 Million in the previous year. The EBITDA margin decreased from 9.79% in 2014-15 to 8.95% in 2015-16. The PBT increased to INR 2487.980 Million in 2015-16, a growth of 8.45% over the figures achieved in 2014-15
In the year 2015-16, five subsidiary companies (viz., Jaisingh Wires Private Limited, Polycab Wires Industries Private Limited, Polycab Electrical Industries Private Limited and Datar Nouveau Energietechnik Limited and Polycab Electronics Private Limited) merged with Polycab Wires Private Limited, hence previous year’s figures are not comparable.
INDEX OF CHARGES
|
S No |
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, COLABA MUMBAI MAHARASHTRA 400025 INDIA |
|
2 |
G62384466 |
10523842 |
SBICAP TRUSTEE COMPANY LIMITED |
10/09/2014 |
16/11/2017 |
- |
25300000000.0 |
202, MAKER TOWER,E, CUFFE PARADE, COLABA MUMBAI MAHARASHTRA 400025 INDIA |
|
3 |
Y10255178 |
90155408 |
STATE BANK OF INDIA |
29/10/2003 |
- |
- |
900000000.0 |
INDUSTRIAL FINANCE BRANCH SAKI NAKA MUMBAI MAHARASHTRA 400072 INDIA |
|
4 |
Y10258849 |
90159079 |
STATE BANK OF INDIA |
28/12/2001 |
- |
- |
499000000.0 |
INDUSTRIAL FINANCE BRANCH SAKI NAKA MUMBAI MAHARASHTRA 400072 INDIA |
|
5 |
Y10258761 |
90158991 |
STATE BANK OF INDIA |
27/03/2000 |
- |
- |
275000000.0 |
INDUSTRIAL FINANCE BRANCH SAKI NAKA MUMBAIMAHARASHTRA 400072 INDIA |
|
6 |
Y10258760 |
90158990 |
STATE BANK OF INDIA |
25/03/2000 |
- |
- |
260000000.0 |
INDUSTRIAL FINANCE BRANCH SAKI NAKA MUMBAI MAHARASHTRA 400072 INDIA |
|
7 |
C49214984 |
90158914 |
State Bank of India |
07/12/1998 |
10/01/2015 |
- |
695200000.0 |
INDUSTRIAL FINANCE BRANCH, 194, SIR M.V. ROAD W.E. HIGHWAY, METRO JUNCTION, ANDHERI (E) MUMBAI MAHARASHTRA 400069 INDIA |
|
8 |
G03790987 |
10004057 |
ICICI BANK |
05/05/2006 |
- |
05/05/2016 |
2450000000.0 |
NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
9 |
G03790920 |
10097759 |
ICICI BANK LIMITED |
04/03/2008 |
- |
05/05/2016 |
3200000000.0 |
ICICI CENTER, 163, HT PAREKH MARG, BACKBAY RECLAMATION, CHURCHGATE MUMBAI MAHARASHTRA 400020 INDIA |
|
10 |
G03218336 |
80044806 |
ICICI BANK LIMITED |
28/10/2004 |
18/03/2010 |
05/05/2016 |
6000000000.0 |
LANDMARK RACE COURCE CIRCLE ALKAPURI VADODARA GUJARAT 390015 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Guarantees |
4357.730 |
1431.000 |
|
Other money for which company is contingently liable |
119.60 |
36.150 |
FIXED ASSETS
- Land
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Leasehold improvements
- Plant and equipment
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 63.35 |
|
UK Pound |
1 |
INR 85.89 |
|
Euro |
1 |
INR 76.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
JYTK |
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.