|
|
|
MIRA INFORM REPORT
|
Report No. : |
496637 |
|
Report Date : |
10.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
DELTON CABLES LIMITED (w.e.f. 30.06.1981) |
|
|
|
|
Formerly Known
As : |
DELTON CABLE INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Delton House, 4801, Bharat Ram Road, 24 Darya Gunj, New Delhi – 110002 |
|
Tel. No.: |
91-11-23273907 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
26.09.1964 |
|
|
|
|
Com. Reg. No.: |
55-004255 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 86.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300DL1964PLC004255 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
|
|
|
|
Line of Business
: |
The company is engaged in manufacturing and supplying of
wires, cables and switchgears.
[Registered Activity] |
|
|
|
|
No. of Employees
: |
225 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1964 and it is engaged in manufacturing and supplying of wires, cables and switchgears. As per the financials of March 2017, the company has registered decent growth in its revenue but has reported losses. Rating takes into consideration the company’s moderate financials risk profile marked by low reserves along with average debt coverage indicators and unfavourable gap between its trade payables to its trade receivables. Rating is further constrained on account of vulnerability of its operating margins to volatility in raw material prices marked by intense competition from organised and un-organised players in the industry and working capital intensive operations. However, ratings weakness is partially offset by established track record of business operations and sound capital base. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. |
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 |
BRICKWORKS |
|
Rating |
Long term rating = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
12.12.2017 |
|
|
|
|
Rating Agency Name |
BRICKWORKS |
|
Rating |
Short term rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit
risk |
|
Date |
12.12.2017 |
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 10.03.2018.
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
Management Non-Cooperative (Tel. No.:
91-1274-2422229 / 91-11-23273907)
Tel No.:91-129-4147094 / 2288225 / 11-43055055 / 23273905 (Not Exist)
LOCATIONS
|
Registered/ Head Office : |
Delton House, 4801, Bharat Ram Road, 24 Darya Gunj, New Delhi –
110002, India |
|
Tel. No.: |
91-11-23273907-08 |
|
Fax No.: |
91-11-23280375/ 23272178 / 26835550 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
17/4, Mathura Road, Faridabad – 121002, Haryana, India |
|
Tel. No.: |
91-129-2223998 / 45230000 (20 Lines) |
|
Fax No.: |
91-129-2223998 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
70th Milestone, Delhi Jaipur Highway, Dharuhera – 122106,
Haryana, India |
|
Tel. No.: |
91-1274-2422229/ 242296 |
|
Fax No.: |
91-1274-247123 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
(Switchgear
Division) C-22/23, Sector – 57, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4248987 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
Shantiniketan, 6th Floor, Flat No.1, 8 Camac Street,
Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-22824153 |
|
Fax No.: |
91-33-22824388 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
No. 1421, Ground Floor, 3rd Main, 3rd Cross,
Chandra Layout, Vijay Nagar Extension, Bangalore – 560040, Karnataka,
India |
|
Tel. No.: |
91-80-22263934, 22253933, 22263934 |
|
Fax No.: |
91-80-22253933 |
|
E-Mail : |
|
|
|
|
|
Branch Office 3 : |
83 B, Dr. Annie Besant Road, Near Worli Naka, Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-24936501 |
|
E-Mail : |
|
|
|
|
|
Branch Office 4 : |
Door No. 114 and 115 (14&15 Floor), Archana Arcade, St. John’s Road, Secunderabad – 500025, Telangana, India |
|
E-Mail : |
|
|
|
|
|
Branch Office 5 : |
10, Montieth Road, Tass Mahal, 1st Floor, Egmore, Chennai – 600008, Tamilnadu, India |
|
Tel. No.: |
91-44-28592608 |
|
Fax No.: |
91-44-28592608 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vijender Kumar Gupta |
|
Designation : |
Chairmen |
|
Address : |
46A, Friends Colony, New Delhi-110065, India |
|
Date of Appointment : |
26.02.1967 |
|
DIN No.: |
00036210 |
|
|
|
|
Name : |
Mr. Vivek Gupta |
|
Designation : |
Managing director |
|
Address : |
46A, Friends Colony, New Delhi-110065, India |
|
Date of Appointment : |
01.08.1990 |
|
DIN No.: |
00035916 |
|
|
|
|
Name : |
Mr. Surender Singh Bhandari |
|
Designation : |
Whole-time Director |
|
Address : |
JG-II-573, Vikas Puri, New Delhi-110018, India |
|
Date of Appointment : |
13.08.2015 |
|
DIN No.: |
02521713 |
|
|
|
|
Name : |
Ms. Shalini Gupta |
|
Designation : |
Director |
|
Address : |
46A, Friends Colony, New Delhi-110065, India |
|
Date of Appointment : |
14.08.2014 |
|
DIN No.: |
00035938 |
|
|
|
|
Name : |
Mr. Vijay Kumar Goel |
|
Designation : |
Director |
|
Address : |
13, Civil Lines, Bareilly-243005, Uttar Pradesh, India |
|
Date of Appointment : |
28.09.1994 |
|
DIN No.: |
00075317 |
|
|
|
|
Name : |
Mr. Mahesh Prasad Mehrotra |
|
Designation : |
Director |
|
Address : |
C-561, Defence Colony, New Delhi-110024, India |
|
Date of Appointment : |
30.06.2007 |
|
DIN No.: |
00016768 |
|
|
|
|
Name : |
Mr. Achintya Karati |
|
Designation : |
Director |
|
Address : |
29/203, East End Apartments, Mayur Vihar, Phase - I Extension, Delhi-110096, India |
|
Date of Appointment : |
13.03.1989 |
|
DIN No.: |
00024412 |
|
|
|
|
Name : |
Mr. Bharat Bhushan Chadha |
|
Designation : |
Director |
|
Address : |
C-14, Greater Kailash, Enclave – I, New Delhi-110048, India |
|
Date of Appointment : |
02.09.2003 |
|
DIN No.: |
00298713 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjiv Aggarwal |
|
Designation : |
Company Financial Officer (KMP) |
|
Address : |
House No: 1906, Sector-16 Kheri Kalan, Faridabad-121002, Haryana, India |
|
Date of Appointment : |
27.03.2017 |
|
PAN No.: |
AAXPA0468M |
|
|
|
|
Name : |
Mr. Vikas Rawat |
|
Designation : |
Company Secretary |
|
Address : |
B-81, Block No. 21, D.D.A. Janta Flats, Sarai Kale Hazrat Nizamuddin, New Delhi-110013, India |
|
Date of Appointment : |
27.03.2017 |
|
PAN No.: |
BCJPR2658M |
SHAREHOLDING PATTERN
AS ON DECEMBER 2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
6375918 |
73.80 |
|
|
(B) Public |
2264082 |
26.20 |
|
|
Grand Total |
8640000 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
2257053 |
26.12 |
|
|
Abha Gupta |
2400 |
0.03 |
|
|
Chitra Chaudhry |
29850 |
0.35 |
|
|
Deepti Sen Gupta |
38850 |
0.45 |
|
|
Maya Karati |
300 |
0.00 |
|
|
Rahul Chaudhary U/g/o Smt C Ch |
18000 |
0.21 |
|
|
Shalini Gupta |
278151 |
3.22 |
|
|
Shriya Gupta |
30000 |
0.35 |
|
|
Shuchi Chaudhry (u/g/o Chitra |
3150 |
0.04 |
|
|
Sushil Prakash Chaudhry |
19839 |
0.23 |
|
|
Veena Gupta |
98928 |
1.15 |
|
|
Vijendra Kumar Gupta |
807831 |
9.35 |
|
|
Vivek Gupta |
293328 |
3.40 |
|
|
V.K. Gupta (HUF) |
497949 |
5.76 |
|
|
Vivek Gupta (HUF) |
138477 |
1.60 |
|
|
Any Other (specify) |
4118865 |
47.67 |
|
|
B And M Trading And Investment Company Limited |
283029 |
3.28 |
|
|
Delton International Limited |
401850 |
4.65 |
|
|
Ram Kumar Gupta And Sons Limited |
355035 |
4.11 |
|
|
Saneh Industrial Investments Limited |
273450 |
3.16 |
|
|
Vishranti Trading Enterprises Limited |
2805501 |
32.47 |
|
|
Sub Total A1 |
6375918 |
73.80 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
6375918 |
73.80 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR,
1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Financial Institutions/ Banks |
2568 |
0.03 |
|
|
Sub Total B1 |
2568 |
0.03 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
1315675 |
15.23 |
|
|
Individual share capital in excess of INR 0.200 Million |
428042 |
4.95 |
|
|
Hulas Rahul Gupta |
104100 |
1.20 |
|
|
Mahendra Girdharilal |
98165 |
1.14 |
|
|
Prashant Jayantilal Patel |
94500 |
1.09 |
|
|
Any Other (specify) |
517797 |
5.99 |
|
|
Bodies Corporate |
250578 |
2.90 |
|
|
Sua Explosives And Accessories Limited |
150000 |
1.74 |
|
|
Trusts |
150 |
0.00 |
|
|
Clearing Members |
3376 |
0.04 |
|
|
NRI – Non- Repat |
3743 |
0.04 |
|
|
NRI – Repat |
2701 |
0.03 |
|
|
HUF |
75169 |
0.87 |
|
|
Investor Education And Protection Fund Authority Ministry Of Corporate Affairs |
182080 |
2.11 |
|
|
Sub Total B3 |
2261514 |
26.17 |
|
|
B=B1+B2+B3 |
2264082 |
26.20 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing and supplying of
wires, cables and switchgears.
[Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
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 : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
225 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Note: LONG TERM BORROWINGS a. Vehicle Loan are secured against hypothecation of respective vehicles and carry rate of Interest of 8-13%. b. Deposits from dealers before 31.03.2008 carries an interest @ 7% p.a. and repayable on cessation of business transactions with such dealer. c. Term loans from financial institution are secured against mortgage of immovable property of promoters situated at 4801, Block-24, Bharat Ram Road, Daryaganj, New Delhi-110002 and personal guarantee of directors. d.
SHORT TERM BORROWINGS a. Cash Credit, working capital demand loan, Letter of Credit and buyers credit are secured by pari passu charge under consortium arrangement by way of first charge on whole of movable properties, excluding such movable which has been permitted by the banks and including inventories and book debts of the company and equitable mortgage created on the properties at 17/4, Mathura Road, Faridabad and personal guarantee of the directors. The cash credit and working capital loan is repayable on demand and carries interest @ 12.97% to 14.75% p.a. b. Letter of Credit is repayable in maximum of 90 days and carries interest ranging from 7.7-11.00%. c. Loan from banks and Financial Institution is secured against the personal guarantee of directors. d. During the year, the company had defaulted the repayment of its certain loans. The details of defaults is as under:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Auditor 1 : |
|
|
Name : |
S.R. Dinodia and Company LLP Chartered Accountants |
|
Address : |
K-39, Connaught Place, New Delhi-110001, India |
|
|
|
|
Auditor 2 : |
|
|
Name : |
B. R. Gupta and Company Chartered Accountants |
|
Address : |
K-55, Connaught Place, New Delhi-110001, India |
|
Tel. No.: |
91-11-43503680 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises having
Significant influence of KMP's : |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9400000 |
Equity Shares |
INR 10/- each |
INR 94.000 Million |
|
40000 |
10 % - Cumulative Convertible Preference Shares |
INR 100/- each |
INR 4.000 Million |
|
20000 |
9.8 % - Redeemable Cumulative Preference Shares |
INR 100/- each |
INR 2.000 Million |
|
|
Total |
|
INR 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8640000 |
Equity Shares |
INR 10/- each |
INR 86.400 Million |
|
|
|
|
|
a) Reconciliation Statement of Equity Share
Capital
|
Equity Shares |
As on 31.03.2017 |
|
|
Number
of Shares |
INR
in Million |
|
|
Balances of Shares at the beginning of year |
8640000 |
86.400 |
|
Add:- Addition during the year |
-- |
-- |
|
Less:- Buy back during the year |
-- |
-- |
|
Balances of Shares
at the end of the year |
8640000 |
86.400 |
b) Terms/rights
attached to equity shares
The company has only one class of equity shares having par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. During the year ended March 31, 2017, the amount of per share dividend recognized as distributions to equity shareholders is INR Nil (March 31, 2016: INR NIL).
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
c) Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
As on 31.03.2017 |
|
|
Number
of Shares |
% holding |
|
|
Equity shares of INR 10 each fully
paid up |
|
|
|
Vishranti Trading Enterprises Limited |
2805501 |
32.47 |
|
Delton Cable Company |
1107450 |
12.82 |
|
Total |
3912951 |
45.29 |
d) Detail of
aggregate number and class of shares allotted as fully paid-up by way of Bonus
shares for the period of five years immediately preceeding the Balance sheet
date
|
Particulars |
Allotment Date |
No. Of shares |
|
Equity shares of INR 10 each fully paid up 28th Jan |
28th Jan,2015 |
5760000 |
FINANCIAL DATA
[all figures are
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 |
86.400 |
86.400 |
86.400 |
|
(b) Reserves &
Surplus |
37.531 |
123.812 |
115.973 |
|
(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) |
123.931 |
210.212 |
202.373 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
31.717 |
41.883 |
1.581 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
9.689 |
|
(d) long-term provisions |
9.611 |
9.948 |
0.954 |
|
Total Non-current
Liabilities (3) |
41.328 |
51.831 |
12.224 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
596.916 |
556.179 |
525.686 |
|
(b) Trade payables |
247.094 |
226.417 |
262.765 |
|
(c) Other current
liabilities |
60.692 |
22.260 |
49.427 |
|
(d) Short-term provisions |
3.004 |
1.843 |
0.286 |
|
Total Current Liabilities
(4) |
907.706 |
806.699 |
838.164 |
|
|
|
|
|
|
TOTAL |
1072.965 |
1068.742 |
1052.761 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
40.750 |
60.463 |
69.335 |
|
(ii) Intangible Assets |
0.017 |
0.039 |
0.197 |
|
(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 |
0.033 |
0.033 |
0.047 |
|
(c) Deferred tax assets
(net) |
36.123 |
21.551 |
16.291 |
|
(d) Long-term Loan and Advances |
31.294 |
30.780 |
21.387 |
|
(e) Other Non-current
assets |
1.052 |
3.127 |
16.770 |
|
Total Non-Current Assets |
109.269 |
115.993 |
124.027 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
399.579 |
413.809 |
379.029 |
|
(c) Trade receivables |
421.569 |
375.365 |
419.614 |
|
(d) Cash and cash equivalents |
33.321 |
39.090 |
19.223 |
|
(e) Short-term loans and
advances |
108.114 |
122.816 |
109.874 |
|
(f) Other current assets |
1.113 |
1.669 |
0.994 |
|
Total Current Assets |
963.696 |
952.749 |
928.734 |
|
|
|
|
|
|
TOTAL |
1072.965 |
1068.742 |
1052.761 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1071.461 |
940.326 |
1310.832 |
|
|
Other Income |
7.290 |
6.786 |
8.207 |
|
|
TOTAL |
1078.751 |
947.112 |
1319.039 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
706.894 |
686.453 |
919.732 |
|
|
Purchases of
Stock-in-Trade |
55.146 |
18.107 |
107.998 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
14.939 |
(26.211) |
(38.235) |
|
|
Employees benefits
expense |
113.886 |
98.746 |
96.657 |
|
|
Exceptional items |
(4.769) |
(78.455) |
(10.331) |
|
|
Other expenses |
163.927 |
143.892 |
151.639 |
|
|
TOTAL |
1050.023 |
842.532 |
1227.460 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
28.728 |
104.580 |
91.579 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
108.858 |
91.715 |
85.736 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(80.130) |
12.865 |
5.843 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
5.670 |
8.439 |
10.479 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(85.800) |
4.426 |
(4.636) |
|
|
|
|
|
|
|
Less |
TAX |
(14.473) |
(4.964) |
1.980 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(71.327) |
9.390 |
(6.616) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
34.599 |
45.978 |
49.300 |
|
|
TOTAL EARNINGS |
34.599 |
45.978 |
49.300 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
66.077 |
54.515 |
96.059 |
|
|
TOTAL IMPORTS |
66.077 |
54.515 |
96.059 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(8.26) |
1.09 |
(0.77) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
10.166 |
9.433 |
0.483 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash Flow From Operating Activities |
55.650 |
(72.380) |
(32.367) |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
31.12.2017 3rd
Quarter |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Net Sales |
139.620 |
254.250 |
170.370 |
|
Total Expenditure |
161.040 |
252.210 |
186.060 |
|
PBIDT (Excluding Other Income) |
(21.420) |
2.040 |
(15.690) |
|
Other Income |
2.960 |
0.980 |
0.280 |
|
Operating Profit |
(18.460) |
3.020 |
(15.410) |
|
Interest |
31.310 |
28.320 |
28.750 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
(49.770) |
-25.300 |
(44.160) |
|
Depreciation |
1.330 |
1.310 |
1.320 |
|
Profit Before Tax |
(51.100) |
-26.610 |
(45.480) |
|
Tax |
(15.660) |
-5.300 |
(2.130) |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
(35.440) |
(21.310) |
(43.350) |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(35.440) |
(21.310) |
(43.350) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors
/ Income * 365) |
143.61 |
145.70 |
116.84 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
2.54 |
2.51 |
3.12 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
118.35 |
117.30 |
93.32 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.07 |
0.25 |
0.24 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.70 |
1.73 |
1.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.89 |
0.80 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
5.15 |
2.89 |
2.61 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
7.32 |
3.84 |
4.14 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.33 |
0.29 |
0.34 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.26 |
1.14 |
1.07 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
(6.66) |
1.00 |
(0.50) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(6.65) |
0.88 |
(0.63) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(57.55) |
4.47 |
(3.27) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.06 |
1.18 |
1.11 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.62 |
0.67 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.12 |
0.20 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.39 |
7.03 |
6.11 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.06 |
1.18 |
1.11 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 24.45/- |
FINANCIAL ANALYSIS
[all figures are
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 |
86.400 |
86.400 |
86.400 |
|
Reserves & Surplus |
115.973 |
123.812 |
37.531 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
202.373 |
210.212 |
123.931 |
|
|
|
|
|
|
long-term borrowings |
1.581 |
41.883 |
31.717 |
|
Short term borrowings |
525.686 |
556.179 |
596.916 |
|
Current Maturities of
Long term debt |
0.483 |
9.433 |
10.166 |
|
Total borrowings |
527.750 |
607.495 |
638.799 |
|
Debt/Equity ratio |
2.608 |
2.890 |
5.154 |
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 |
1310.832 |
940.326 |
1071.461 |
|
|
|
(28.265) |
13.946 |
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 |
1310.832 |
940.326 |
1071.461 |
|
Profit / (Loss) |
(6.616) |
9.390 |
(71.327) |
|
|
(0.50%) |
1.00% |
(6.66%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
CORPORATE INFORMATION
Delton Cables Limited is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. In India its shares are listed on Bombay Stock Exchange. The Company has two manufacturing units located in Dharuhera and Faridabad. The company is engaged in manufacturing and supplying of wires, cables and switchgears. Delton is a prime supplier to the Power, Telecommunication, Railways, Steel and Mining sectors in India and in the International market also.
SEGMENT-WISE
PERFORMANCE
SWITCHGEARS:
The Company strengthened its switchgear range and manufactures a wide range in distribution board category, extending flexibility for consumers to choose from a wide range of Distribution board, matching with their living room décor. During the year under review the Company achieves a turnover of INR 58.600 million in this segment as compared to INR. 75.400 million in previous year.
CABLES AND WIRES:
Cables and wires registered strong volume growth. Industrial Cablegrew owing to increase in infrastructure projects by Government, Industrial Capex, power infrastructure in the country. Company is looking forward to tap the growth opportunities by way of entering into newer range of cables During the year under review the Company achieves a turnover of INR 1052.500 million in this segment as compared to INR 901.400 million in previous year.
INDUSTRY STRUCTURE,
OUTLOOK AND DEVELOPMENTS
Wires and cables market in India is highly fragmented, with the presence a large number of enterprises. The organized sector manufactures high voltage durable cables, whereas the unorganized sector mainly captures the low voltage market, where products are mainly separated on the basis of the price. Cable industry growth and revenue is dependent on many sectors like telecommunication, automotive, railway, real estate and Infrastructure Sector etc.
India’s organized wire and cable market is dominated by few major players amongst the Company gulping a large share of organized market for wires and cables. The intensifying competition in the industry has put increasing pressures on all of players to maintain their market shares and the Company has been continuously working to increase the market share by introducing new various types of cables in addition to enhancing the visibility of its existing brands.
The wires and cables market is presently at its growing stage in their country and is expected to be capturing a significant share in the electrical equipment industry in the upcoming years.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
From financial
institutions |
|
|
|
Term Loan |
30.596 |
39.953 |
|
Other loans and
advances |
|
|
|
From Dealers Deposits |
0.730 |
0.730 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Other Loans and
advances |
|
|
|
From Financial institution |
75.414 |
44.112 |
|
From Banks |
47.196 |
47.485 |
|
Other borrowings |
16.696 |
7.500 |
|
Total |
170.632 |
139.780 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G46454427 |
100104313 |
SHRIRAM CITY UNION FINANCE LIMITED |
27/05/2017 |
- |
- |
71000000.0 |
C-7 & 8, DEVALI RAOD, FIRST FLOOR, KHANPURNew DelhiDL110062IN |
|
2 |
G13026646 |
100052142 |
Punjab National Bank |
08/09/2016 |
- |
- |
40000000.0 |
MCB, A-9, Connaught PlaceNew DelhiDL110001IN |
|
3 |
B82978917 |
90040679 |
Canara Bank (Lead Bank) |
29/01/1990 |
30/07/2013 |
- |
926000000.0 |
PCB, Connaught Place, II Floor, World trade Tower,Barakhamba Lane,New DelhiDL110001IN |
|
4 |
Y10139426 |
90059331 |
MERCANTILE BANK LTD |
28/06/1975 |
- |
- |
3000000.0 |
NEW DELHINEW DELHIDLIN |
|
5 |
G32813263 |
10575593 |
PUNJAB NATIONAL BANK |
26/05/2015 |
- |
06/01/2017 |
6400000.0 |
7BHIKAJI CAMA PLACENEW DELHIDL110066IN |
|
6 |
G32817389 |
10605156 |
Punjab National Bank |
07/11/2015 |
- |
06/01/2017 |
13700000.0 |
MCB, A-9, Connaught PlaceNew DelhiDL110001IN |
|
7 |
C14355994 |
90059303 |
ANDHRA BANK |
07/09/1970 |
31/05/1994 |
01/08/2014 |
1500000.0 |
NEW DELHINEW DELHIDLIN |
|
8 |
C14355473 |
90041243 |
ANDHRA BANK |
31/05/1994 |
31/05/1994 |
01/08/2014 |
17500000.0 |
CONNAUGHT CIRCUSNEW DELHIDLIN |
|
9 |
C14356513 |
90059457 |
ANDHRA BANK |
11/08/1983 |
31/05/1994 |
01/08/2014 |
6000000.0 |
CONN. CIRCICENEW DELHIDLIN |
|
10 |
C14354294 |
90040748 |
ANDHRA BANK |
06/09/1990 |
08/08/1990 |
01/08/2014 |
25500000.0 |
CONNAUGHT CIRCUSBAD FILENEW DELHIDLIN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the
company not acknowledged as debts |
|
|
|
Sales Tax |
42.363 |
12.006 |
|
Sales Tax |
0.051 |
0.868 |
|
Excise Laws |
3.975 |
3.975 |
|
LADT |
5.732 |
5.732 |
|
Income Tax demand under section 156 of Income tax Act, 1961 |
0.174 |
0.174 |
|
Guarantee issued by Banks (net of margin) |
175.839 |
172.501 |
|
Letter of Credit |
113.104 |
186.166 |
|
Sales Tax sureties given for third parties |
0.080 |
0.080 |
|
Company had not made the provision of bonus for the F.Y. 2014-15 on account of retrospective amendment made by The Payment of Bonus (Amendment) Act, 2015 keeping in view the diposal of writ petition vide order no. WP(C) NO. 3024/2016 (C) dated 27th January 2016 passed by the Hon’ble Kerala High Court. |
||
STATEMENT OF
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER, 2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
INCOME FROM OPERATIONS |
|
|
|
|
Revenue from operations |
170.364 |
254.247 |
564.226 |
|
Other Income |
0.283 |
0.975 |
4.213 |
|
Total
Income from Operations |
170.647 |
255.222 |
568.439 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
88.883 |
157.557 |
385.564 |
|
Purchase of Stock in Trade |
59.300 |
43.318 |
102.635 |
|
Changes in inventories of finished goods and
work-in-progress |
(11.894) |
(5.937) |
(63.420) |
|
Excise duty on sales |
0.000 |
0.000 |
14.628 |
|
Employee benefits expense |
24.307 |
26.115 |
77.111 |
|
Depreciation and Amortization expenses |
1.318 |
1.305 |
3.949 |
|
Finance cost |
28.750 |
28.320 |
88.377 |
|
Other Expenditure |
25.459 |
31.149 |
82.778 |
|
Total
Expenses |
216.123 |
281.827 |
691.622 |
|
Profit
/ (Loss) before Tax |
(45.476) |
(26.605) |
(123.182) |
|
Tax Expense |
(2.128) |
(5.295) |
(23.078) |
|
Profit
/ (Loss) after Tax |
(43.348) |
(21.310) |
(100.105) |
|
Other
comprehensive income |
|
|
|
|
Items that will not be reclassified to profit and loss |
1.205 |
(0.736) |
0.723 |
|
Tax (benefit)/expenses on items that will not be
reclassified to profit and loss |
(0.074) |
(0.070) |
(0.223) |
|
Total other comprehensive income |
1.131 |
(0.807) |
0.500 |
|
Total comprehensive income for the quarter/year |
(42.219) |
(22.118) |
(99.605) |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
86.400 |
86.400 |
86.400 |
|
Basic
and Diluted EPS (in INR) |
(4.89) |
(2.56) |
(11.53) |
NOTES:
1. The above results were reviewed and recommended by the Audit Committee and then approved by the Board of Directors at their meeting held on February 13 2018. The financial results for the quarter ended December 31. 2017 have been limited reviewed by the Statutory Auditors of the Company.
2. The standalone financial results have been prepared in accordance with the
principles and procedures of Indian Accounting Standards' md AS ) as notified
under the Companies (Indian Accounting standards) Rules,2015 as specified in
section 133 of the Companies Act 2013.
3. The Company has adopted Ind AS from April 01, 2017 and accordingly, these
standalone financial results together with the results of the comparative
previous period have been prepared in accordance with the recognition and
measurement principles laid down in Ind AS 34 on Interim Financial Reporting
prescribed under section 133 of the Companies Act 2013, read with relevant
rules issued thereunder and the other accounting principles generally accepted
in India The date of transition to Ind AS is April 01. 2016. The Impact of
transition has been accounted for in the opening reserves and the comparative
period results have been restated accordingly The opening balance sheet as at
April 1 .2016 and the results for the subsequent periods would be finalized and
will be subject to audit at the time of annual financial statements for the
year ended March 31 2018.
4. In line with the provision of Ind AS 108- Operating Segments and on the
basis of review of operations being done by the management of the Company, the
operations of the Company falls under manufacturing and trading of wires and
cables .which is considered to be the only reportable segment by the
management.
5. According to the requirement of Ind-AS, revenue for the corresponding
quarter and nine months ended December 31. 2016 were reported inclusive of
excise duty. The Government of India has implemented Goods and Service Tax
(MGST") from July 01, 2017 replacing Excise duty. Service Tax and various
other Indirect Taxes. Accordingly, per IND AS-18, the revenue for the quarter
ended December 31. 2017 is reported net of GST Had the previously reported
revenue shown net of excise duty, comparative income from operations of the
Company would have been as follows.
(INR in Million)
|
Particulars |
Quarter ended |
Nine months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
Revenue from operations |
170.364 |
254.247 |
549.598 |
6. There is a possibility that these quarterly financial results may require adjustment
before constituting the final Ind AS financial statements as of and for the
year ending March 31, 2018 due to changes in financial reporting requirements
arising from changes in the use of one or more optional exemptions from full
retrospective application of certain Ind AS as permitted under Ind AS 101.
7. The figures for the corresponding period/ previous period have been
regrouped/rearranged/ recasted wherever necessary to make them comparable
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and Equipment
- Furniture and Fixture
- Office Equipments
- Electric Installation
- Computer
Intangible Asset:
- Goodwill
- Computer software
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 records 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 65.08 |
|
UK Pound |
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
YES |
|
--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.