MIRA INFORM REPORT
|
Report
Date : |
30th
May 2006 |
IDENTIFICATION
DETAILS
|
Name : |
KEC INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Transasia House, Chandivali Studio
Road, Chandivali, Mumbai – 400 072, Maharashtra, India |
|
|
|
|
Country
: |
India |
|
|
|
|
Financials
(as on) : |
31.03.2005 |
|
|
|
|
TAN
No.: [Tax Deduction & Collection Account No.] |
MUMK11457F |
|
|
|
|
PAN
No.: [Permanent Account No.] |
AAACK4279J |
|
|
|
|
Date
of Incorporation : |
07/05/1945 |
|
|
|
|
Com.
Reg. No.: |
11-4421 |
|
|
|
|
Legal
Form : |
Subject is a Public Limited Liability company. The
company’s shares are listed on the Stock Exchanges. |
|
|
|
|
Line
of Business : |
Manufacturers of Towers & Structurals. |
RATING & COMMENTS
|
MIRA’s
Rating : |
A |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base
are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
Maximum
Credit Limit : |
USD
12000000 |
|
|
|
|
Status
: |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
Slow but
correct |
|
|
|
|
Litigation
: |
Clear |
|
|
|
|
Comments
: |
Subject
is an old and well established company engaged in design, manufacture and
erection of Power Transmission Line towers for electric power. Its
performance has not been satisfactory for quite some time and it has incurred
substantial losses. However, during the financial year 2004-2005, the company
performed well and achieved better results. Trade relations are reported as
fair. Payments are currently slow but correct. It can be
considered normal for business dealings of medium size at usual trade terms
and conditions. |
LOCATIONS
|
Registered
Office : |
3rd Floor, Transasia House, Chandivali Studio
Road, Chandivali, Mumbai – 400 072, Maharashtra, India |
|
Tel.
No.: |
91-22-56972777
/28204045 |
|
Fax
No.: |
91-22-56972799/28204052 |
|
E-Mail
: |
|
|
Website
: |
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|
|
|
|
Corporate
Office : |
Ceat Mahal, 463, Dr. Annie Besant Road, Worli, Mumbai –
400 030, Maharashtra, India |
|
|
|
|
Head
Office : |
32, Kamani Chambers, R. K. Kamani Marg, Ballard Estate,
Mumbai – 400 038, Maharashtra, India |
|
|
|
|
Factory
1 : |
Located
At : v B-190,
Industrial Area, Butibori – 441 108, Maharashtra v Jhotwara,
Jaipur – 302 012, Rajasthan v Nagpur,
Maharashtra v Chennai,
Tamilnadu |
DIRECTORS
|
Name : |
Mr. H. V. Goenka |
|
Designation
: |
Chairman |
|
|
|
|
Name : |
Mr. R. D. Chandak |
|
Designation
: |
Managing Director |
|
|
|
|
Name : |
Mr. A. S. Gupta |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. S. M. Kulkarni |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. Gulu. L. Mirchandani |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. A. T. Vaswani |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. J. M. Kothari |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. Murli Ramachandran |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. S. S. Thakur |
|
Designation
: |
Additional Director |
|
|
|
|
Name : |
Mrs. Neeeta Mukerji |
|
Designation
: |
Director (Nominee – ICICI) |
|
|
|
|
Name : |
Mr. Dilip Piramal |
|
Designation
: |
Additional Director |
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|
|
|
Other
Personnel: |
|
|
Name : |
Mr. Ch. V. Jagannadhaa Rao |
|
Designation
: |
Company Secretary |
KEY EXECUTIVES
|
Name : |
Mr. Vimal Kejriwal |
|
Designation
: |
Chief Financial Officer |
|
Date
of Birth/Age : |
43 Years |
|
Qualification
: |
B. Com., F.C.A., F.C.S., D.T.M. |
|
Experience
: |
22 Years |
|
Date
of Appointment : |
18.09.2002 |
|
Previous
Employment: |
Lazard India Limited – Director |
|
|
|
|
Name : |
Mr. H. V. Goenka |
|
Designation
: |
Chairman |
|
Address
: |
14-16, Patazzo B. G. Khar Marg, Mumbai – 400 008,
Maharashtra |
|
Tel
No.: |
91-22-23630872 |
|
Date
of Birth/Age : |
45 Years |
|
Qualification
: |
Arts Graduate and BA, MBA (Geneva) |
|
Other
Directorship : |
Corporation of Maharashtra Limited (SICOM) |
|
|
|
|
Name : |
Mr. R. D. Chandak |
|
Designation
: |
Managing Director |
|
Address
: |
B/44, Ruia Park, 47, J. R. Mahatro Road, Juhu,
Mumbai – 400 049, Maharashtra |
|
Date
of Birth/Age : |
58 Years |
|
Qualification
: |
M. Com., FCA |
|
|
|
|
Name : |
Mr. Anant Swarup Gupta |
|
Designation
: |
Director |
|
Address
: |
B. Gulmohar, Kalpatary CHS Vile Parle (West),
Mumbai – 400 046, Maharashtra |
|
Tel
No. : |
91-22-26106183/28108224 |
|
Qualification
: |
M.B.F.I.A. (London) |
|
Age : |
76 Years |
|
|
|
|
Name : |
Mr. Sharad. Madhav Kulkarni |
|
Designation
: |
Director |
|
Date
of Birth/Age : |
64 Years |
|
Qualification
: |
Bechelor of Engineering : FIE (India) F Institute of Directors (UK)
Fellow-Institute of Management (UK) |
|
Other
Directorship: |
Indiaco Com (Private) Limited
Travel Voyages (India) Limited |
|
|
|
|
Name: |
Mr. Gulu Lalchand Mirchandani |
|
Designation: |
Director |
|
Address: |
22, Paras, Little Gibs Road, Malabar Hill, Mumbai
– 400 006, Maharashtra |
|
Age: |
60 Years |
|
Qualification: |
B. Mechanical |
|
|
|
|
Name: |
Mr. Ajit Teckchand Vaswani |
|
Designation: |
Director |
|
Address: |
502, Solitalre Hirandani Gardens, Powai, Mumbai –
400 076, Maharashtra |
|
Age: |
65 Years |
|
Qualification: |
CA, CS |
|
|
|
|
Name: |
Mr. Jotindra Mansukhlal Kothary |
|
Designation: |
Director |
|
Address: |
16 A, Thakur Niwas, 3rd Floor, 173, J.
N. Tata Road, Churchgate, Mumbai – 400 020, Maharashtra |
|
Age: |
69 Years |
|
Tel
No.: |
91-22-2881537 |
|
Qualification: |
B. Com LLB, MBA (USA) |
|
|
|
|
Name: |
Mr. Murli Ramchandran |
|
Designation: |
Director |
|
Address: |
CEAT Mahal, 463, Dr. Annie Besant Road, Worli,
Mumbai – 400 025, Maharashtra |
|
Age: |
42 Years |
|
Qualification: |
B. E.
(Hons.), M. M. S., M.S. |
|
|
|
|
Name: |
Mrs. Sobha Singh Thakur |
|
Designation: |
Director |
|
Address: |
1161, Abdul Court, Flat No. 20, Suryavanshi Marg,
Dadar, Mumbai – 400 028, Maharashtra |
|
Age: |
74 Years |
|
Qualification: |
M. Com., CAIIB |
|
|
|
|
Name: |
Mrs. Neela Mukherjee |
|
Designation: |
Director (Nominee) |
|
Address: |
801, Radhika Apartment, Off Gayani Road,
Prabhadevi, Worli, Mumbai – 400 025, Maharashtra |
|
Age: |
38 Years |
|
Qualification: |
B. A. (Hons) – Economics PGDM (IIM Kolkata) |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Indian
Promoters |
14679934 |
40.91 |
|
Directors
and Relatives |
29,326 |
0.08 |
|
FIIs |
23,52,621 |
6.56 |
|
Financial
Institutions |
1,175 |
0.00 |
|
Insurance
Companies |
53,18,288 |
14.82 |
|
Banks |
3,39,876 |
0.95 |
|
Other
Companies |
15,54,912 |
4.33 |
|
Mutual
Funds & UTI |
19,00,918 |
5.29 |
|
NRIs
& Foreign Companies |
2,40,041 |
0.67 |
|
Clearing
Members |
2,31,810 |
0.65 |
|
General Public |
92,36,953 |
25.74 |
|
Total |
3,58,85,854 |
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers of Towers & Structurals. |
|
|
|
|
Exports
to : |
UAE, Saudi, Lebanon,
Lirya, Iraq, Iran, Kenya, Ethoria, Tunisia and Algeria. |
|
|
|
|
Terms
: |
|
|
Selling : |
L/C terms |
|
|
|
|
Purchasing : |
L/C terms |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
|
Towers
& Structurals |
Tonnes |
90000 |
72000 |
|
Methyl
Ethyl Ketone (MEK) |
Tonnes |
4000 |
4000 |
GENERAL INFORMATION
|
No. of
Employees : |
1900 |
|
|
|
|
Bankers
: |
v
Bank
of India v
ICICI
Bank Limited v
Canara
Bank v
Central
Bank of India v
State
Bank of Bikaner and Jaipur v
Dena
Bank v
Allahabad
Bank v
State
Bank of Hyderabad v
Development
Credit Bank Limited v
Punjab
National Bank v
Bank
of Baroda v
Abu
Dhabi Commercial Bank Limited v
The
Hongkong and Shanghai Banking Corporation Limited v
SBI
Commercial and International Bank Limtied v
Standard
Chartered Bank v
Deutsche
Bank AG v
Industrial
Development Bank of India v
Export-Import
Bank of India |
|
|
|
Facilities
:
The company
enjoys following facilities from it’s bankers :-
|
SECURED LOANS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Redeemable Non-convertible Debentures |
0.000 |
0.000 |
51.000 |
|
Loans and
Advances from Banks |
3981.661 |
3445.741 |
3534.450 |
|
Loans and
advances from others |
760.114 |
2119.407 |
2080.902 |
|
Deferred Payment Credits |
7.438 |
10.890 |
5.526 |
|
Total |
4749.213 |
5576.038 |
5671.878 |
|
|
|
|
|
|
UNSECURED LOANS |
|
|
|
|
Fixed Deposits |
33.726 |
39.226 |
33.756 |
|
Short
Term Loans and Advances :- |
|
|
|
|
13.50%
Redeemable Non-Convertible Debentures |
|
|
28.500 |
|
From
Banks |
-- |
185.757 |
296.146 |
|
From others |
-- |
42.834 |
537.535 |
|
Total |
33.726 |
228.591 |
862.181 |
|
|
|
|
|
|
Other Loans and Advances
:- |
|
|
|
|
Under
Sales Tax Deferred Scheme |
-- |
29.479 |
29.479 |
|
others |
1.195 |
1.712 |
2.218 |
|
Total |
34.921 |
299.008 |
927.634 |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
A. F. Ferguson
& Company Chartered
Accountants Mumbai,
Maharashtra |
|
|
|
|
Associates: |
v
EMI
Transmission Limited v
CESC
Limited --Power Generation and Distribution v
Ceat
Limited --Tyres v
RPG
Cables Limited --Power and Tele Cables v
RPG
Life Sciences --Pharmaceuticals v
RPG
Transmission Limited --EPC Contract for Power Transmission Line v
Zensar
Technologies --Information Technology v
Sa
Re Ga Ma --Entertainment v
Food
World --Retail Chain v
Music
World --Retail Chain for Music v
Phillips
Carbon Black Limited --Industry Carbon Black v
RPG
Cellular --Industry Cellular & Services |
|
|
|
|
Subsidiaries: |
v
Bespoke
Finvest Limited v
KEC
Campha Limited, Vietnam v
KEC
International Servicos do Brasil Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
75000000 |
Equity
Shares |
Rs.10/- each |
Rs. 750.000 millions |
|
2500000 |
Preference
Shares |
Rs.100/- each |
Rs. 250.000 millions |
|
|
GRAND TOTAL |
|
Rs.1000.000 millions |
|
Subscribed
(Preference Share Capital) : |
||
|
4,00,000 |
13%
Redeemable Cumulative Preference Shares of Rs. 100/- each |
Rs.
40.000 millions |
|
5,00,000 |
13%
Redeemable Cumulative Preference Shares of Rs. 100/- each |
Rs.
50.000 millions |
|
7,25,000 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs.
72.500 millions |
|
2,50,000 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs.
25.000 millions |
|
14,480 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs. 1.448
millions |
|
50,800 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs. 5.080
millions |
|
50,000 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs. 5.000
millions |
|
2,09,686 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs.
29.969 millions |
|
|
Total |
Rs.
219.997 millions |
|
|
|
|
|
Equity Share Capital :- |
||
|
3,58,87,840 |
Equity
Shares of Rs. 10/- each |
Rs.
358.878 millions |
|
|
|
|
|
Preference
Share Capital :- (Subscribed & Paid Up) |
||
|
4,00,000 |
13%
Redeemable Cumulative Preference Shares of Rs. 100/- each |
Rs.
40.000 millions |
|
5,00,000 |
13%
Redeemable Cumulative Preference Shares of Rs. 100/- each |
Rs.
50.000 millions |
|
7,25,000 |
Zero Coupon
Redeemable Preference Shares of Rs. 100/- each |
Rs.
72.500 millions |
|
2,50,000 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs.
25.000 millions |
|
14,480 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs. 1.448
millions |
|
50,800 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs. 5.080
millions |
|
50,000 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs. 5.000
millions |
|
2,09,686 |
Zero
Coupon Redeemable Preference Shares of Rs. 100/- each |
Rs.
20.969 millions |
|
|
Total |
Rs.
219.997 millions |
|
|
|
|
|
Equity Share Capital :- |
||
|
3,23,85,854 |
Equity
Shares of Rs. 10/- each |
Rs.
323.859 millions |
|
35,00,000 |
Equity
Shares of Rs. 10/- each |
Rs.
35.000 millions |
|
|
Total |
Rs.
358.859 millions |
|
|
GRAND TOTAL |
RS.
578.856 millions |
|
|
|
|
|
|
Total |
Rs.
219.997 millions |
|
|
|
|
|
Equity Share Capital :- |
||
|
3,23,85,854 |
Equity
Shares of Rs. 10/- each |
Rs.
323.859 millions |
|
35,00,000 |
Equity
Shares of Rs. 2.50/-- each |
Rs. 8.750
millions |
|
|
Total |
Rs.
332.609 millions |
|
|
GRAND TOTAL |
RS.
552.606 millions |
s
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
506.356 |
552.606 |
550.109 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
6.568 |
|
|
3]
Reserves & Surplus |
2742.070 |
2162.297 |
2191.333 |
|
|
4] Profit
and Loss Account |
0.000 |
(339.690) |
(234.360) |
|
NETWORTH
|
3248.426 |
2375.213 |
2513.650 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
4749.213 |
5576.038 |
5671.878 |
|
|
2]
Unsecured Loans |
34.921 |
299.008 |
927.634 |
|
TOTAL
BORROWING
|
4784.134 |
5875.046 |
6599.512 |
|
|
DEFERRED
TAX LIABILITIES |
64.011 |
77.033 |
208.692 |
|
|
|
|
|
|
|
TOTAL
|
8096.571 |
8327.292 |
9321.854 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
1409.901 |
1456.933 |
1880.557 |
|
Capital work-in-progress
|
152.172 |
39.790 |
43.743 |
|
|
|
|
|
|
|
INVESTMENT
|
874.111 |
865.666 |
1021.532 |
|
DEFERREX TAX ASSETS
|
192.025 |
424.031 |
418.774 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
1064.437 |
507.757 |
438.767 |
|
|
Sundry Debtors
|
8440.154 |
5993.108 |
5855.871 |
|
|
Cash & Bank Balances
|
1660.691 |
403.349 |
463.643 |
|
|
Loans & Advances
|
4960.629 |
4340.401 |
4113.398 |
Total Current Assets
|
16125.911 |
11244.615 |
10871.679 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
10518.461 |
5616.758 |
4839.243 |
|
|
Provisions
|
142.364 |
86.985 |
76.114 |
Total Current Liabilities
|
10660.825 |
5703.743 |
4915.357 |
|
Net Current Assets
|
5465.086 |
5540.872 |
5956.322 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
3.276 |
0.000 |
0.926 |
|
|
|
|
|
|
|
TOTAL
|
8096.571 |
8327.292 |
9321.854 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
12370.768 |
8269.385 |
7476.716 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
676.395 |
115.841 |
(140.486) |
Provision for Taxation
|
253.769 |
136.916 |
45.118 |
Profit/(Loss) After Tax
|
422.626 |
252.757 |
(95.368) |
|
|
|
|
|
|
Total Export |
N.A. |
6787.998 |
6037.811 |
|
|
|
|
|
|
Total Imports |
N.A. |
151.824 |
225.274 |
|
|
|
|
|
|
Total Expenditures |
11694.373 |
8239.807 |
7617.202 |
SUMMARISED
RESULTS
|
PARTICULARS |
|
31.03.2006 Full Year |
Sales Turnover
|
|
17272.500 |
Other Income
|
|
4.100 |
Total Income
|
|
17276.600 |
Total Expenditure
|
|
15649.700 |
Operating Profit
|
|
1626.900 |
Interest
|
|
592.800 |
Gross Profit
|
|
1034.100 |
Depreciation
|
|
269.400 |
Tax
|
|
70.500 |
Reported PAT
|
|
493.100 |
Dividend (%)
|
|
120.000 |
.
KEY RATIO
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Debt Equity Ratio |
2.55 |
3.40 |
3.44 |
|
Long Term Debt Equity Ratio |
2.50 |
3.11 |
2.90 |
|
Current Ratio |
1.67 |
1.91 |
1.97 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
6.79 |
3.56 |
2.97 |
|
Inventory |
15.77 |
17.15 |
19.28 |
|
Debtors |
1.73 |
1.38 |
1.30 |
|
Interest Cover Ratio |
1.74 |
1.38 |
0.84 |
|
Operating Profit Margin (%) |
13.63 |
17.38 |
13.82 |
|
Profit Before Interest and Tax Margin
(%) |
12.82 |
16.14 |
12.25 |
|
Cash Profit Margin (%) |
4.22 |
7.33 |
(0.16) |
|
Adjusted Net Profit Margin (%) |
3.41 |
6.09 |
(1.73) |
|
Return on Capital Employed (%) |
21.14 |
16.02 |
0.00 |
|
Return on Net Worth (%) |
18.95 |
27.90 |
0.00 |
STOCK PRICES
|
Face Value |
Rs. 10/- |
|
High |
Rs.357.00 |
|
Low |
Rs.348.90 |
LOCAL AGENCY FURTHER INFORMATION
The company’s fixed
assets of important value include Freehold & Leasehold Land, Buildings,
Plant & Machinery, Computers, Furniture & Fixtures, Electrical
Installations and Vehicles.
The company
is in trade terms with :-
v
Hind
Enamel Works
v
Nike
Industries
v
R. S.
Industries (Rolling Mills) Limited
v
Bharat
Wire Ropes
v
Shree
Krishna Rolling Mills
v
Modern
Engineering Works
- K. Engineering
v
Vibha
Star Products
v
Jaideep
Engineering
v
Shree
Vyanteshwara Form (India) Private Limited
v
Z. M.
Engineering Works
v
Anil
Industries
v
Ajay
Engineering Works
v
Gadodia
Traders
v
Giriraj
Industries
v
Johns
Electric Company Private Limited
v
Shree
Amica Industries
v
Shree
Timber Industries
v
Soni
Dies and Engineering Works
v
Shree
Jai Durga Saw Mills
v
Sanvijay
Re-rolling
v
Accme
(Urvashi Pump) Engineers Private Limited
v
Badjayta
Lime Suppliers
v
Jyoti
Industries
v
Auto
Tech
v
Star
Chemical Industries
v
Adheswara
Chemicals (Private) Limited
v
Ravi
Engineers
v
Nexo
Industries
v
Naveen
Metal Industries
Website details are attached herewith:
Biodata
Incorporated as a public
limited company on 7 May '45 as Kamani Engineering Corporation, KEC
International (KECIL) was renamed in Jun.'84. It is engaged in the design and
manufacture of power transmission line towers and petrochemicals.
KECIL's major products are transmission line towers and methyl ethyl
ketone (MEK). Its major clients include government agencies like SEB's, the
NTPC, NHPC, etc.
The company diversified into cement in 1988 and promoted a cement project
through a new company, Indo Nihon Special Cements, in collaboration with Nihon
Cement Company, Japan. In 1994-95, Bespoke Finvest became a wholly-owned
subsidiary of the company. KECIL has tied up with the Vietnamese government for
a joint venture. It took over the management of SAE India in Mar.'95. Cetex
Petrochemicals, the petrochemicals division of KECIL has been awarded the ISO
9002 certification.
During 1998-99, the proposed merger of RPG Transmission Ltd with the
company was approved by the shareholders in ratio of 85 shares of the company
for every 100 shares held in RPG Transmission Ltd and has been cleared by the
Delhi High Courts but not approved by the Bombay High Court, accordingly in
1999-2000, the company has gone in appeal against the said order.
With a long term perspective and in order to mitigate losses and improve
competitivenes, the company has embarked upon various measures like
rationalisation of assets, sale of surplus properties, closure of unproductive
offices and voluntary separation schemes where appropriate.
The company has commenced execution of projects in Libya, Phillipines,
and Lebanon.
The company has received new orders worth Rs.2950 millions during the
year 2004 both in the International and Domestic market.The company has an
healthy order book position of over Rs.26000 millions and is currently engaged
in executing orders in countries like
UAE,Libya,Tunisia,Algeria,Iraq,Kuwait,Saudi Arabia.
To
maintain its leadership in the market, KEC is equipped with the latest in
technology. KEC is constantly upgrading its facilities and factory units.
The
company has very modern design facilities at Mumbai where over 50 highly
qualified and experienced Design Engineers have been deployed. This Design
Division is fully equipped to perform a plethora of computerized design and
engineering activities that design Transmission Towers of any kind to meet
specific client requirements. It has successfully designed heavy River Crossing
towers as well as towers up to 800 KV. The division boasts of ultra modern
facilities that include:
Ř
3D analysis &
design software for optimizing use of Mild Steel and High tensile Steel.
Ř
3D drafting software
for automatic generation of shop drawings for fabrication and code generation
for CNC operation for manufacturing.
Ř
Software for foundation
designing and construction drawings.
Ř
Software for
development of sag templates and generation of sag tension charts for line
stringing.
Software for development of 3D profile
drawing which facilitated automatic checking of clearances, optimizing of tower
quantities and verifying the adequacy of the tower strength.
CAPABILITIES
Ř
single circuit and double circuit towers.
Ř
double circuit towers with quadruple bundled
conductors.
Ř
single circuit rectangular based towers.
Ř single circuit
rectangular based towers
State-of-the-art Infrastructure
The heart of any manufacturing facility is its
infrastructure. KEC has two manufacturing plants at Jaipur and Nagpur in India.
In these two plants, KEC can manufacture 50,000 tons of towers annually.
KEC meets the world's most stringent quality
standards. Its plants are certified as per and for Quality and Environmental Standards
Well-engineered layouts, mechanized production
equipments and large storage facilities for steel and finished products give
KEC an edge to deliver quality products as per the stringent requirements of
its customers. KEC is constantly upgrading the capabilities of its factories to
meet the changing expectations of its customers.
The factory at Jaipur was built on a plot
measuring 230,680 sq. mt. and started in 1967. It combines highly skilled
manpower with modern manufacturing infrastructure to ensure products of the
highest quality.
Built on 120,000 sq. mt. of land, the factory at
Butibori, Nagpur was started in 1996. It incorporates the latest technology for
fabrication and hot dip galvanizing of a variety of structures.
FABRICATION Technology
All tower parts go through multi-purpose CNC
machines that are programmed to carry out various operations such as punching,
stamping, drilling and cutting.
Hydraulic presses along with matching tools,
jigs and fixtures ensure that bent items are handled without distortion.
Strategically positioned cranes simplify material handling without any strain
on employees.
All machines are equipped to process steel conforming to various specifications e.g.
GALVANIZING Technology
The pretreatment of steel is effectively handled
with special chemicals to minimize effluents. The controlled treatment includes
degreasing, pickling and fluxing for an ideal reaction between steel and Zinc.
The pre-heating chamber ensures uniform drying
& preheating of steel to give an excellent surface finish and uniform coating
of zinc. The temperature of Galvanizing Furnace is accurately controlled by
microprocessors.
The waste acids and chemicals are treated as per
all applicable environment Standards.
AT KEC, Quality is a Journey not a Destination
Quality is an integral part of manufacturing
process wherein each operator ensures the quality of work he performs.
Specially trained inspectors, computerized testing equipments and well-planned
quality assurance infrastructure back all quality efforts. Monitoring of
quality is done at every stage ensuring the highest quality standards.
Maintenance and back up systems ensure that
process capability of machines is maintained at the planned performance
standards.
KEC has
more than 50 years of experience in construction of Transmission Lines.
The company has
constructed some of the heaviest and tallest transmission towers in India and
abroad. It has successfully battled against & constructed towers in
difficult terrains like deserts, mountains, land mines and rivers.
Today, the
specialized transmission lines built by KEC span huge raging rivers are like
Nile in Egypt, Kosi in Nepal and Brahmaputra in India.
Besides
having 20 teams of highly skilled surveyors, KEC has 13 Total Stations
(comprising Electronic Distance Meters, theodolite and software for recording
survey data like levels, angles and distance. In addition KEC has the
capability and experience of conducting surveys via Geo-positioned satellite.
KEC has
teams of expert engineers & technicians who erect transmission towers by
conventional methods like cranes for towers that are up to 45 meters high and
advanced methods like use of helicopters, whenever required.
KEC's
battery of 32 sophisticated lightweight tension stringing machines & 40
hydraulic mobile cranes (to handle the conductors at erection sites and at
stores) give KEC a distinct edge when it comes to installation of transmission
lines.
Quality
assurance is an integral part of the manufacturing processes wherein each
operator ensures the quality of the work he performs. All quality efforts are
backed by specially trained inspectors, computerized testing equipment, well
planned quality, assurance infrastructure. Monitoring of quality is done at
every stage ensuring the highest quality standards.
The maintenance and back
up systems ensure that process capability of machines is maintained at the
planned performance standards.
FINANCIAL
PERFORMANCE
The Company turned around during the year and made a net profit of Rs. 252.800
millions as against a net loss of Rs. 95.400 millions in the previous year. The
Company has achieved total sales of Rs. 8270 millions as compared to Rs. 7480
millions during the previous year. The above improvements reflect the outcome
of the sustained efforts made by the Company to improve its revenue margins and
reduce costs.
OPERATIONAL PERFORMANCE
Transmission Line Division
The following are the significant achievements during the year:
Completed one of the most challenging assignments of restoration of
transmission line in Iraq in a record time under most difficult environment,
which has resulted in securing further orders in Iraq.
Embarked upon Value-Chain Expansion by getting an order in the area of Hotline
Stringing and also made a successful entry into the Sub Transmission sector by
winning APDRP orders in Karnataka and West Bengal.
Converted the Tower Testing Station at Vashi into a 100% EOU and started
testing of towers for overseas parties and has already received orders of over
Rs. 100 millions.
Undertook all round cost effective measures for its operations and closely
monitored the same, which resulted in considerable saving in operational
costs.
Cetex Petrochemicals Division
As part of financial restructuring exercise, the Cetex Division, which was identified
as a non-core business of the Company has been divested during the month of
April 2004, pursuant to the consent of the members accorded by way of a
resolution passed in postal ballot.
INDUSTRY OVERVIEW AND FUTURE OUTLOOK
The Company's current order book position stands over Rs. 20000 millions. The
export orders are to the tune of around Rs. 13000 millions. Domestic orders
currently stand over Rs. 7000 millions. With the emphasis of Government of
India on strengthening the transmission grid and reduction in transmission and
distribution losses, the order flow in the domestic market has increased
substantially as reflected in the order book position of the Company. The
company expects that the domestic orders flow would be maintained in the coming
years.
The Company will continue its focus on restoration business and penetrating
into new geographical markets
INDUSTRY OVERVIEW
Proper infrastructural facilities play significant role in development of
social and economic conditions in any country. Better infrastructural
facilities demands advancement in power sector, which boosts power transmission
business. The Government of India has recognized the importance of the
transmission and distribution sector and has provided substantial investment in
the 10th and 11th five-year plans. The Government has also designed Accelerated
Power Development Reforms Programme (APDRP) with an outlay of Rs. 400 billion
for the period 2002-2007 to thrust power sector reforms. Its estimated
investment in transmission sector is expected to be over Rs. 700 billion. This
shows that, there would be significant growth in the power sector and India has
the potential to become one of the world's largest markets. The future
transmission plan includes creation of transmission highways to conserve
right-of-way, construction of additional 60,000 ckm by 2012 in the central
sector and construction of additional transmission lines by the State
Electricity Boards.
PERFORMANCE
The Turn Around :
The Company has successfully turned around during the financial year 2003-04.
Significant steps taken by the Company to achieve the turn around are:
Created a SBU structure with a clear accountability and focus, which is working
very effectively.
Interacted continuously with customers, suppliers, bankers and employees.
Embarked upon value chain expansion and made a successful entry into
Distribution Sector by winning APDRP orders in Karnataka and West Bengal,
Hotline Stringing in Algeria and Satellite/GPR Survey services for the Indian
Utilities.
Converted Vashi Tower Testing Station into a 100% EOU, started tower testing
for overseas parties and bagged orders over Rs. 100 millions.
Controlled interest cost through Debt Restructuring, converting high cost
borrowing to low cost borrowings through foreign currency borrowings, packing
credit and issuance of Commercial Papers.
Disposed non-operating assets, which were not required for the operations of
the Company and moved offices to low cost areas without impacting operational
efficiencies.
Undertook all-round cost effective and rationalization measures for its
operations.
Undertook and completed assignments relating to restoration of transmission
line in Iraq which involved working under adverse environment, reverse
engineering and at short work schedule. A line of 170 Km, which usually takes
about 18 months, was completed in less than six months.
Improvement in Order Book:
Order book improved with large value orders received from Iraq, Libya, West
Bengal, Power Grid and Power links, which has resulted in 25% increase in the
order book position, taking the order book to over Rs. 20000 millions.
Operational Efficiencies:
Continuously focused on operating efficiencies through regular standard
benchmarking exercises for manufacturing as well as project execution.
Manufacturing efficiencies were improved through TQM & TPM. New milestones
were created in reducing wastage and improving productivity.
Closed 3 overseas offices manned by senior level managers.
Working capital reduction and conservation of cash very tightly all around to
channelise it for improving the operations of the Company.
Closed 13 old projects during the year 2003-04.
The Butibori unit has won the RPG Quality Award for the year 2003 under the
manufacturing category.
OUTLOOK AND OPPORTUNITIES
With the ongoing power sector reforms, the passage of the Electricity Act, open
access to transmission and the relief given to the Power Sector in Interim
Union Budget, the overall requirement of transmission lines is expected to go
higher and the flow of Domestic orders is expected to continue in the near
future.
The profitability from value chain expansion is expected to increase in future
demonstrating the success of this strategy. During the year 2004-05, the
Company is expecting to achieve a significant growth in turnover and
improvement in profitability in view of various measures being taken by the
Company.
The Company is going for geographical expansion, exploring new geographical
markets. No substantial development is expected in International market this
year. However the completion of Iraq Project in a short span of time was a good
learning experience for the Company, which would give the Company a competitive
advantage in future projects.
The Company has invested in new technologies like tower spotting through PLS
CADD; tower testing capabilities, Enterprise Resources Planning (ERP) and
knowledge management equipping the Company to deal with the emerging business
paradigms. The focus will continue on reducing costs, maintaining a healthy
order book and improving margins.
Market players have shown confidence in the Company, which is evident with the
market capitalization going up from about Rs. 300 millions in March 2003 to
about Rs. 2450 millions in May 2004
KEC International, A TOWERING Corporate
KEC
International is one of the largest Power Transmission EPC companies in the
world. Since its incorporation in 1945, KEC has made an indelible mark on the
world map by constantly and consistently re-engineering itself to retain it's
position of leadership in the areas of quality, technology, capacity and
capability.
KEC's
strengths lie in the areas of Design, Manufacture, supply and Construction of
Turnkey Projects of Power Transmission lines of voltages upto 800 KV and in the
execution of Railway Electrification projects, setting up Sub-stations and
power Distribution Networks, Optical Fibre Cable (OPGW) installations, Turnkey
Telecom Infrastructure Services and maintenance of Power Transmission Lines.
To ensure
reliable service KEC is supported by multi-locational manufacturing facilities
and a workforce spread out over 20 countries.
At KEC manpower is one of the most important resources. KEC
employees participate in regular training programmes and seminars in various
areas of self-development. Every employee is instilled with a sense of pride of
his work and workplace & strives to make KEC the International market
leader in the power transmission sector.
Transmitting Power, The WORLD OVER
Till date KEC has supplied over 1.2 million metric
tons of towers and has constructed over 35000 kms of transmission lines
worldwide long enough to circle the globe.
Over the
years KEC has gone from strength to strength successfully exporting towers to
over 20 countries and widening its client base across the world. The company
has an increasingly strong presence in the Middle East, the Pacific Rim
countries and Africa.
Over a span
of 50 years KEC has helped transmit power to various countries that include
Argentina, Brazil, Canada, Egypt, Ethiopia, Ghana, India, Indonesia, Iran,
Iraq, Kenya, Kuwait, Lebanon, Malaysia, New Zealand, Nepal, Nigeria,
Philippines, South Africa, Sri Lanka, Saudi Arabia, Sudan, Syria, Thailand,
Tunisia, USA, UAE and Vietnam.
The KEC credo is that no project is complete till the
customer is totally satisfied. KEC has successfully executed contracts from 33
KV to 800 KV in India and abroad.
Credentials
KEC
test beds have been accepted and approved by Power utilities in India and
abroad. Some of the key consultants who have witnessed the tests at KEC testing
stations are:
q
Acres Consulting Engineers - Canada
q
Energo Project - Yugoslavia
q
Electricite de France - France
q
ESB International - Ireland
q
Ewbank Preece Ltd. - U.K.
q Kennedy & Donkin Ltd. - U.K.
q
Lahmeyer International - Germany
q
Merz & McLELLAN - U.K.
q
Newjec – Japan
Mr.
Vimal Kejriwal (Chief Finance Officer) of KEC International Ltd. receiving the
Highest Exporter Trophy for the year 2000-2001 in Capital goods from Dr.
Shivajirao Patil -Nilangekar, Minister of Revenue, Govt of Maharashtra.The
award function was held in Hotel Taj President, Mumbai on 7th
January 2004.
Worldwide success and acclaim has largely
stemmed from a wide base of satisfied clients. Awards and accolades reinforce
KEC's commitment to deliver better and faster. KEC's corporate capabilities can
be best described by what its clients have to say.
"Timely completion
of the project has been result of sincere and dedicated efforts of highly
motivated team of KEC"
"During the peak
construction period, M/s. KEC had deployed 25 foundation gangs, 25 erection
gangs, 16 stringing gangs and 4 TSE sets. The entire 562 KM stringing of 800 KV
line has been completed in only 16 months by massive deployment of over 5000
work force by KEC."
Power Grid Corporation of India [800 KV Single Circuit Kishanpur-Moga Line]
"We
hereby confirm that KEC International Ltd., Cairo has completed 500 KV turnkey
project awarded to them by the Ministry of Electricity & Energy, Egyptian
Electricity Authority. We are glad to confirm that all the lines have been in
trouble free service."
Ali Al-Mussawi Egyptian
Electrical Authority [500 KV Single Circuit Tebbien Kureimat-Cairo Line]
"I
am glad to learn that the Lake Crossing Tower at location No. 126 of Singrauli-Rihand
Transmission Line has been completed. I want to convey my appreciation for the
effort put in by KEC for completing the job. Had KEC not come forward with full
mobilization and taken up the work on a war footing, this target would not have
been achieved."
M. L. Malik, National
Thermal Power Corporation of India [400 KV Single Circuit Singrauli-Rihand
Line]
"KDP
offer their compliments for completion of Dubai Electricity and Water
Authority's 400 KV & 132 KV Transmission Lines 7 sections, ahead of
schedule to a satisfactory standard of workmanship."
D. C. Adams, Manager,
Middle East, Kennedy & Donkin Middle East Limited. [400 KV Double Circuit
Shahama East - MIRFA Line]
"We
hereby confirm that KEC has completed supply of 3300 MT of galvanized steel
towers with bolts & nuts as per agreed supply schedule. The qualities of
towers were to International Standards and the assembly of the towers at the
project was completed smoothly indicating a high standard of fabrication."
Cesar Luccas, Pirelli,
Brazil [132 KV Double Circuit Santarem - Ruropolis - Itaituba Line]
"We would like to
commend KEC International Ltd. on their successful completion of the National
Electrification Project. KEC has carried out the work in a professional manner
and has developed an excellent working relationship with the VRA."
Volta River Authority,
Ghana [Atebubu-Kwame Danso, Berekum - New drobo, Goasa - Tepa, Bawku - Davango,
Nagpanduri - Gambaga Line 34.5 KV Sub Transmission]
Press Releases
KEC International Ltd Net Profit up 67% in FY`04-05
Mumbai, 29
April 2005
KEC International Limited (KEC), one of
the leading Power Transmission EPC companies in the world today announced a 67%
growth in net profit for the year 2004-05. The Net Profit of the company in
2004-05 was Rs. 42.27 crs as against a Net Profit of Rs. 25.28 crs in the
previous fiscal.
The Company has clocked a 51% growth in
turnover for 2004-05. The turnover has gone up to Rs. 1249 crs as against Rs.
827 crs registered in 2003-04.
For the fourth quarter ended March 2005,
the company has registered a 55% increase in turnover to Rs. 459.78 crs as
against Rs. 295.26 crs in the corresponding quarter in the previous year. The
Net Profit of the company in the fourth quarter was Rs. 13.36 crs as against a
Net Profit of Rs. 13.30 crs in the corresponding quarter in the previous
fiscal.
Announcing the Company’s FY 04-05 results,
Mr. Ramesh Chandak, Managing Director, KEC, said: “The growth in the revenues
has come by effectively utilizing our core strength of project management and
execution skills, while at the same time focusing on Value-Chain Expansion and
improving Operational efficiency. The company has witnessed strong growth in
the order flow in the domestic market.”
He added, “The
ongoing thrust of the Govt. of India towards the power sector as well as
resurgence of the overall business sentiment in several countries, presents a
positive market environment for us. KEC is well positioned to build on its
strong foundation and leverage both domestic as well as global market
opportunities. As we continue our top-line growth, we will continue to develop
new markets.”
During the year KEC has bagged large value orders both in the Domestic
as well as International market. The Company further strengthened its order
book to Rs.2500 crore as compared to Rs.2000 crore at the beginning of the
year. The current export orders are to the tune of Rs. 1700 crores, amounting
to nearly 70% of the total order book value. Domestic orders currently stand at
Rs. 800 crores.
KEC has been continuously growing in the
overseas markets and is currently engaged in executing orders in various
countries such as UAE, Libya, Tunisia, Algeria, Iraq, Kuwait, Oman, Lebanon,
Zambia, Ethiopia etc.
KEC
is a member of the Rs. 81 billion RPG Enterprises.
KEC International bags Rs
102 cr orders from Algeria
September 28, 2005
MUMBAI: RPG Enterprises company, KEC International on
Wednesday said that it has bagged orders worth Rs 1020 millions from the
Algerian government for supply and construction of 400 kv single circuit
transmission line over 100 kms.
The order was placed by GRTE spa, the power transmission
division of Algerian utility company Sonelgaz from Salah Bey to Bir Ghbalou and
the project is scheduled for completion over the next 15 months, a company
release said here.
KEC is presently executing orders in countries such as
United Arab Emirates, Libya, Tunisia, Algeria, Iraq, Kuwait, Oman, Lebanon,
Zambia, Ethiopia and Afghanistan
Contacts
Registered Office:
Transasia House, Chandivali Studio Road,
Chandivali, Andheri(E),
Mumbai - 400 072.
Phone:
+91-22-56406300
Email: kecindia@kecrpg.com
International Projects:
463, Ceat Mahal, Dr. A.B. Road, Worli,
Mumbai - 400 025.
Phone:
+91-22-56670200
Fax: +91-22-56670285/99
Email: kecindia@kecrpg.com
Domestic Projects:
29, Community Commercial Centre, Basant Lok,
Vasant Vihar, New Delhi - 110 057.
Phone:
+91-11-26142655
Fax: +91-11-26141113
Email: kecdomestic@kecrpg.com
Manufacturing:
B-190, M.I.D.C. Industrial Estate,
Butibori, Nagpur - 441 108.
Phone:
+91-7104-265423
Fax: +91-7104-265351
Email: kecmanufacturing@bub.kecrpgmail.com
Works:
B-190,
M.I.D.C. Industrial Estate,
Butibori, Nagpur - 441 108.
Phone: +91-7104-265423
Fax: +91-7104-265351
Email: kecbutibori@bub.kecrpgmail.com
Jhotwara,
Jaipur - 302 012.
Phone:
+91-141-2340214
Fax: +91-141-2340223
Email: kecjaipur@jpr.kecrpgmail.com
Offices Overseas
Location Telephone Fax Email
Abudhabi +9712-6448255 +9712-6448465 rpgkec@emirates.net.ae
Algeria +21321918776
sh_sha@yahoo.com
Ethiopia
: Jimma +2517-115968 +2517-551012 ethiopia@telecom.net.et
Kenya +2542-3751953 +2542-3746220 keckenya@mitsuminet.com
Lebanon +9611-797176 +9611-797176 kec-bt@inco.com.lb
Libya +21821-4890309 +21821-4891463 kec.ly@lycos.com
Muscat
- Oman +968-594326 +968-594673 kectower@omantel.net.om
Sharjah +9716-5343703 +9716-5343795 kecrpgsh@emirates.net.ae
Tunisia +21671-354211 +21671-354161 kec.tunis@planet.tn
Offices India
Location Telephone Fax Email
Bangalore +91-80-2236708 +91-80-2237539 kecbangalore@vsnl.net
Kolkatta +91-33-22475837 +91-33-22406720 keccal@cal3.vsnl.net.in
New
Delhi +91-11-51646100 +91-11-51646100 kecdelhi@ndb.vsnl.net.in
Vashi,
R&D Centre +91-22-27781847/52 +91-22-27781847 .
DIRECTOR REPORTS:
Bonus equity shares
Pursuant to 35,00,000 partly paid-up equity shares becoming fully paid-up
and by virtue of resolution passed by the members in the Extra Ordinary General
Meeting held on 7th March 1995 approving allotment of bonus shares to all the
shareholders, the holders of 35,00,000 equity shares were allotted 17,50,000
equity shares of Rs.10 each by way of bonus shares in the ratio of one bonus
share for every two equity shares held by them.
WEBSITE DETAILS:
KEC International Limited
(KEC) has secured new orders worth Rs. 339 crores from Afghanistan and
Ethiopia.
In Afghanistan, KEC has bagged two orders worth Rs. 204 crs for
supply and construction of 220 KV double circuit transmission lines from
- Kabul to Salang Tunnel over a distance of
95 km and
- Salang Tunnel to Phul –e-Khumri over a
distance of 107 km
These
transmission lines are being constructed to provide electricity to Kabul city. This project would be executed over the
next 36 months. These orders have been awarded by the Power Grid Corporation of
India Ltd (PGCIL).
Ethiopian Electric Power Corporation
(EEPCO) has placed an order with KEC
worth Rs. 135 cr. for supply and construction of 400 KV single circuit and 230
KV double circuit transmission line totalling over 234 kms under the Gilgel
Gibe II Power Transmission Project. This transmission line would enable the
transfer of hydropower from the Gilgel Gibe II Hydro Power Plant.
The project aims
at satisfying the growing demand for electricity in Ethiopia. This project is
partly funded by the European Investment Bank.
Announcing this, Mr. Ramesh Chandak, Managing Director, KEC International said: “KEC’s
long standing experience and skills have helped it to bag these large orders.
This helps us in maintaining KEC`s leadership position in the Global
Transmission market”
KEC presently has a healthy order book position
of Rs. 2,700 crs and is engaged in executing orders in countries countries like
Afghanistan, Abu Dhabi, Libya, Tunisia, Algeria, Iraq, Oman, Zambia and
Ethiopia.
In the domestic market, too, KEC is a leading
player and is already executing various orders for PGCIL, WBSEB, J&K SPDC,
UPPCL and Powerlinks etc.
KEC is one of the largest Power Transmission,
Engineering, Procurement and Construction companies in the world with presence
in more than fifteen countries.
KEC International is a member of the Rs. 8450
cr. RPG Enterprises.
Press Releases
KEC
International Ltd. bags new order worth Rs. 82 cr. from Power Grid Corporation
of India"
MUMBAI - 9/30/2005
KEC International
Limited (KEC) has received
a new order worth Rs. 82 crores in the domestic market from Power Grid
Corporation of India Ltd (PGCIL).
KEC`s
scope of work includes supply and construction of 167 km long 400kV Double
Circuit Transmission Line from Jhalod to Dehgam in the state of Gujrat. This
project is scheduled to be completed by July 2007.
This
order is a part of PowerGrid`s plan to create an Inter regional Transmission
link in India which would ultimately help the Govt of India in achieving its
objective of providing Power for All by 2012.
KEC is a leading player in the domestic transmission
market and is already executing various orders for Power Grid, Powerlinks
Transmission, WBSEB, APTRANSCO, J&K SPDC, UPPCL etc.
KEC
is presently executing orders in countries like Abu Dhabi, Libya, Tunisia,
Algeria, Iraq, Kuwait, Oman, Lebanon, Zambia, Ethiopia, and Afghanistan etc.
KEC
is one of the largest Power Transmission, Engineering, Procurement and
Construction companies in the world with presence in more than twenty countries.
KEC
International is a member of the Rs. 8450 cr. RPG Enterprises.
FIXED ASSETS:
Intangible Assets
Transferable Development Right
Tangible
Assets
Freehold Land
Leasehold Land
Building
Plant and Machinery
Computers
Furniture & Fixtures
Electrical Installations
Vehicles
CMT REPORT
[Corruption, Money laundering & Terrorism]
The Public Notice information has been collected from
various sources including but not limited to: The Courts, India Prisons
Service, Interpol, etc.
1] INFORMATION ON DESIGNATED PARTY
No
exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that
subject is or was the subject of any formal or informal allegations, prosecutions
or other official proceeding for making any prohibited payments or other
improper payments to government officials for engaging in prohibited
transactions or with designated parties.
3] Asset Declaration :
No
records exist to suggest that the property or assets of the subject are derived
from criminal conduct or a prohibited transaction.
4] Record on Financial Crime :
Charges or
conviction registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with Government :
No record exists to
suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report
:
No press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments
on Corporate Governance to identify management and governance. These factors
often have been predictive and in some cases have created vulnerabilities to
credit deterioration.
Our Governance Assessment focuses principally on the
interactions between a company’s management, its Board of Directors,
Shareholders and other financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local
laws, regulations or policies that prohibit, restrict or otherwise affect the
terms and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.19 |
|
UK Pound |
1 |
Rs.86.51 |
|
Euro |
1 |
Rs.59.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP
CAPITAL |
1~10 |
7 |
|
OPERATING
SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
This
score serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)ssss
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base
are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |