MIRA
INFORM REPORT
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Report Date : |
11.06.2007 |
IDENTIFICATION DETAILS
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Name : |
YAMUNA POWER AND INFRASTRUCTURE LIMITED |
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Formerly Known As : |
YAMUNA GASES AND CHEMICALS LIMITED |
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Registered Office : |
Sardana Nagar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.03.1973 |
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Com. Reg. No.: |
05-6515 |
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CIN No.: [Company
Identification No.] |
L40200HR1973PLC006515 |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturer of Cable and Wiring Accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 590000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
Sardana Nagar, |
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Tel. No.: |
91-1732 - 242098, 242881 |
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Fax No.: |
91-1732 - 242539 |
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E-Mail : |
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Website : |
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Corporate Office : |
909, Narain Manzil, 23, |
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Tel. No.: |
91-11 - 43577777 |
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Fax No.: |
91-11 - 43577778 |
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E-Mail : |
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Located at : Kolkata and Chennai |
DIRECTORS
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Name : |
Mr. Sham Sunder Sardana |
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Designation : |
Chairman and Managing Director |
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Address : |
3/101, |
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Date of Birth/Age : |
21.11.1939 |
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Date of Appointment : |
13.07.1973 |
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Name : |
Mr. Sanjeev Sardana |
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Designation : |
Managing Director |
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Address : |
C-4/45, 1st Floor, SDA, |
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Date of Birth/Age : |
08.11.1965 |
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Date of Appointment : |
06.09.1995 |
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Name : |
Mr. Ravi Sardana |
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Designation : |
Director |
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Address : |
Sardana Nagar, |
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Date of Birth/Age : |
24.12.1970 |
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Date of Appointment : |
30.09.2006 |
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Name : |
Mr. Rajeev Sardana |
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Designation : |
Director |
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Address : |
Sardana Nagar, |
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Date of Birth/Age : |
08.10.1967 |
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Date of Appointment : |
14.08.2000 |
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Name : |
Mr. Satish Kumar Vijra |
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Designation : |
Director |
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Address : |
226/V, Sant Pura, Yamuna Nagar – 135001, |
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Date of Birth/Age : |
02.09.1944 |
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Date of Appointment : |
25.07.2003 |
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Name : |
Mr. Amerjeet Singh Nehra |
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Designation : |
Director |
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Address : |
House No. 3087, Sector – 28, |
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Date of Birth/Age : |
03.06.1935 |
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Date of Appointment : |
30.09.1997 |
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Name : |
Ms. Prithvi Paul Bhambri |
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Designation : |
Director |
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Address : |
191-C, Sector – 21 C, |
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Date of Birth/Age : |
06.01.1941 |
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Date of Appointment : |
25.07.2003 |
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Name : |
Mr. Mrinal Kumar Chowdhury |
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Designation : |
Director |
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Address : |
B – 61, Shivalik, |
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Date of Birth/Age : |
19.07.1943 |
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Date of Appointment : |
22.08.2005 |
KEY EXECUTIVE
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Name : |
Mr. Hamender Kumar Gupta |
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Designation : |
Company Secretary |
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Address : |
Gupta Clinic [Old], Medical Bazar, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Adamali Karimjee Loliwala |
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2100 |
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Abdul Kader Adamali Lokhandwalla |
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2100 |
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Abid Fida Ali Loliwala |
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1050 |
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Anupma Sardana |
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2000 |
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Ambika Sardana |
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29450 |
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Atam Prakash Batra |
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1120 |
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Amarjit Kaur |
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1120 |
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Chanderkant Indulal Gandhi |
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1200 |
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Archna Tripathi |
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1250 |
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Dev Raj Mehta |
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1120 |
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D. N. Malik |
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1120 |
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Davinder Saini |
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1120 |
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Gulam Abdul Husai Loliwala |
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2100 |
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Harmeet Singh |
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2000 |
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Jatinder Pal Kaur |
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2240 |
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Yamuna Insutech Private Limited |
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125430 |
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Kaizar Adamali Lokhandwala |
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2100 |
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Prabha Sardana |
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14980 |
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Rama Bagga |
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2240 |
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Raj Kumar |
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2000 |
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Rajiv Kumar |
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21060 |
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56330 |
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Rajiv Sardana – HUF |
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25450 |
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Sham Sardana |
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97400 |
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Suneel Sardana |
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19740 |
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Sham Sardana and Sons HUF |
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121930 |
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Suneel Sardana and Sons – HUF |
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32200 |
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Sangeeta Duggal |
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35370 |
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Sanjeev Sardana – HUF |
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28000 |
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Supriya Sardana |
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6680 |
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Ved Sardana |
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56570 |
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Vijay Bhushan |
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1800 |
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Category |
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Percentage of Holding |
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Bodies corporate |
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13.00 % |
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Directors of relatives of directors |
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62.00 % |
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Other top fifty shareholders |
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8.00 % |
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Others |
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17.00 % |
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Total |
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100.00
% |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cable and Wiring Accessories. |
GENERAL INFORMATION
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Bankers : |
State Bank of Main Branch Yamuna Nagar –
135001, Punjab National
Bank Khera Bazar, Jagadhri having its
Head Office at 7, |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Moudgil and Company Chartered Accountants |
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Address : |
Khera Bazar, Jagadhri – 135003, |
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Associates/Subsidiaries : |
YGC Projects Limited CIN No.: L65921CH1993PLC013410 Yamuna Cable Accessories Private Limited CIN No.: U25209DL1996PTC078434 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
960000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.600
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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9.600 |
9.600 |
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2] Share Application Money |
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0.00 |
0.000 |
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3] Reserves & Surplus |
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138.282 |
107.638 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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147.882 |
117.238 |
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LOAN FUNDS |
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1] Secured Loans |
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146.697 |
141.988 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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146.697 |
141.988 |
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DEFERRED TAX LIABILITIES |
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27.455 |
41.652 |
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TOTAL |
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322.034 |
300.878 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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157.827 |
172.913 |
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Capital work-in-progress |
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INVESTMENT |
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19.576 |
7.902 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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58.362 |
50.317 |
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Sundry Debtors |
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86.282 |
57.504 |
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Cash & Bank Balances |
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21.596 |
26.529 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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40.894 |
46.724 |
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Total
Current Assets |
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207.134 |
181.074 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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58.225 |
57.595 |
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Provisions |
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4.278 |
3.416 |
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Total
Current Liabilities |
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62.503 |
61.011 |
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Net Current Assets |
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144.631 |
120.063 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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322.034 |
300.878 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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338.385 |
358.589 |
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Other Income |
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6.844 |
4.220 |
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Total Income |
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345.229 |
362.809 |
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Profit/(Loss) Before Tax |
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20.475 |
21.622 |
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Provision for Taxation |
|
5.065 |
19.537 |
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Profit/(Loss) After Tax |
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15.410 |
2.085 |
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Expenditures : |
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Raw Material Consumed |
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101.460 |
136.033 |
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Purchases made for re-sale |
|
111.669 |
86.684 |
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Consumption of stores and spares parts |
|
3.414 |
7.161 |
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Increase/(Decrease) in Finished Goods |
|
[11.306] |
[5.526] |
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Salaries, Wages, Bonus, etc. |
|
17.842 |
19.014 |
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Managerial Remuneration |
|
1.584 |
1.403 |
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Payment to Auditors |
|
0.112 |
0.110 |
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Interest |
|
19.933 |
15.846 |
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Insurance Expenses |
|
1.706 |
1.804 |
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Power & Fuel |
|
3.835 |
3.914 |
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Depreciation & Amortization |
|
16.093 |
16.697 |
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Other Expenditure |
|
58.412 |
58.047 |
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Total Expenditure |
|
324.754 |
341.187 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
4.46 |
0.57 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
6.05 |
6.03 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.32 |
5.97 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.14 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
1.41 |
1.73 |
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Current Ratio (Current Asset/Current Liability) |
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|
3.31 |
2.97 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
YAMUNA GASES AND
CHEMICALS LIMITED |
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Presented By |
Shri. H. K.
Gupta |
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1) Date and description of instrument creating the change |
Agreement dated
09.08.1995 for Rs. 9.000 Millions |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 9.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Against hypothecation
of stock of raw material, consumable stores, stock in process, finished goods
of Cable Jointing Kits etc. and such other securities as may be acceptable by
the Bank for advances under this agreement. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 5 %
p.a. over RBI rates with a minimum of 11.75 % p.a. with margin of 25 % of
Hypothecation of goods to secure a demand cash credit agreement. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank Khera Bazar, Jagadhri having
its Head Office at 7, |
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6) Date and brief description of instrument modifying the charge |
28.09.2005 Hyp.
Of current assets to secure a demand cash credit, Book debts and current
assets agreements on PNB format stamped paper of Rs. 5/- each. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The non fund
based limit has been increased to Rs. 155 Millions form Rs. 110 Millions and
fund based limits Rs. 85 Millions with interest 10.75 % p.a. with a margin of
25 % on Hyp. Of goods to secure a demand cash credit and term loan of Rs. 18
Millions. Other term and
conditions remain unchanged. |
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This form is for |
Creation of
charge |
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Corporate identity
number of the company |
L40200HR1973PLC006515 |
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Name of the
company |
YAMUNA POWER AND INFRASTRUCTURE LIMITED |
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Address of the
registered office or of the principal place of business in |
Sardana Nagar, |
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Type of charge |
Immovable property |
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Particular of
charge holder |
State Bank of Main Branch Yamuna Nagar –
135001, |
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Nature of description
of the instrument creating or modifying the charge |
Equitable
mortgage by deposit of title deeds of land and building VIDE bank letter
dated 28.02.2007 |
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Date of
instrument Creating the charge |
28.02.2007 |
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Amount secured by
the charge |
Rs. 528.400
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Total Credit
Facilities Secured
|
|
Short particulars
of the property charged |
Deposit of title
deeds of land and building measuring 58 Kanal 2 Marla situated at |
As per website
YPIL is an ISO 9001 certified company providing
global solutions in power distribution. It manufactures the DENSONS brand of Cable
Jointing Systems. YPIL is the only company in
Produced at state-of-the-art manufacturing
facilities, under stringent quality control, all its products are in strict
conformance with international standards like VDE, BS, IEC and IEEE, to meet
most demanding operating conditions. These products find worldwide acceptance
in markets like Europe, the Middle and Far East and
YPIL has a separate Project Engineering
Department managed by a team of qualified and experienced power engineers, who
design, install and commission new Power Distribution Projects. YPIL has
specialised manufacturing facilities for Fibre Reinforced Plastic (FRP) Cross
Arms (11KV) and (33KV), Cable Trays, Grating and Ladders which find a wide
range of applications in chemical plants, refineries and highly corrosive and
pollutive industries.
Subject (YPIL) an ISO 9001 certified & stock
exchange listed company was incorporated in 1973, as an Oxygen bottling plant.
It soon diversified into the manufacturing of power distribution accessories
with resin cast cable Jointing Systems upto 36 kV of power distribution. YPIL
success in this venture provided the platform to add to it's range of power distribution
accessories like Heat Shrinkable / Silicone / EPDM based pre-moulded cable
jointing systems upto 400 kV, under the brand name .
Today YPIL employs over 200 skilled personnel
with offices all over
The driving force behind the company is the
active pursuit of innovative manufacturing technologies to produce different
products for various power distribution applications & given it's product
mix of one stop shop for all types of Cable Jointing Systems makes YPIL the
preferred choice of customers. YPIL's expertise ensures premium solutions for
the present & the future. YPIL is a complete solution company for all
Jointing Systems.
Product
Joints
To maintain the continuity of the underground
cables the need for the reliable jointing systems came into existence. Cable
terminations and joints have always been very critical part in the whole
distribution system involving underground cables and have often been the causes
of failure in the distribution system as well. There has always been a need to
improve the reliability of the underground distribution system through newer
materials that can withstand stringent operating conditions and installed
without a room for errors.
There are wide range of cable jointing systems available today, which can be
classified by the way they are applied such as taped type, pre-moulded /
push-on / slip-on type, cold application type and heat shrinkable type. The
selection criterion for an appropriate type of cable jointing system by the
user should be dependent on the site conditions, operating parameters, voltage
applications and cable types.
Terminations
To maintain the continuity of the underground
cables the need for the reliable jointing systems came into existence. Cable
terminations and joints have always been very critical part in the whole
distribution system involving underground cables and have often been the causes
of failure in the distribution system as well. There has always been a need to
improve the reliability of the underground distribution system through newer
materials that can withstand stringent operating conditions and installed
without a room for errors.
There are wide range of cable jointing systems available today, which can be
classified by the way they are applied such as taped type, pre-moulded /
push-on / slip-on type, cold application type and heat shrinkable type.The
selection criterion for an appropriate type of cable jointing system by the
user should be dependent on the site conditions, operating parameters, voltage
applications and cable types.
Accessories
To maintain the continuity of the underground
cables the need for the reliable jointing systems came into existence. Cable
terminations and joints have always been very critical part in the whole
distribution system involving underground cables and have often been the causes
of failure in the distribution system as well. There has always been a need to
improve the reliability of the underground distribution system through newer
materials that can withstand stringent operating conditions and installed
without a room for errors.
There are wide range of cable jointing systems
available today, which can be classified by the way they are applied such as
taped type, pre-moulded / push-on / slip-on type, cold application type and
heat shrinkable type. The selection criterion for an appropriate type of cable
jointing system by the user should be dependent on the site conditions,
operating parameters, voltage applications and cable types.
FRP
At YPIL, people are their
greatest pride and resource. Their focus lies in bringing aboard some of the
finest professionals in the Electrical industry and providing them with opportunities
that match their drive and ability. With one of the lowest attrition rates in
the industry, YPIL's people-force is inspired, committed, and thoroughly
professional. If you have what it takes to become an integral part of an
organization that's built and driven by people, then you are the person they
are looking for. Simply access the They Need You section to post the resume on
their site. It could be the first step towards getting closer to an
organization full of self driven people. And closer to becoming a part of the
collective people-energy that's YPIL a Electrifying force that's driving
relationships globally."
At YPIL you are faced with a
challenging Work Environment that is shared by a highly motivated group of 200+
people who choose YPIL because they believe that it's all happening here. They
provide :
Opportunities for Entrepreneurship
· Freedom
to inspire ideas and be inspired
· In-house
training programs for personal and professional growth
· Infinite
access to the latest technologies
· Opportunities
to take on leadership roles early in the career
· Freedom
to experiment and be innovative
· Compensation
that is benchmarked with the leaders in the industry
· HR
polices that are aimed to strike a balance between work and personal welfare
Human Resource Development Systems
· The
development systems straddle a wide range of work areas
· Career
Planning
· Job
Rotation
· Variable
Compensation Schemes
· Performance
Appraisal Policy
· Reward
and Recognition Systems
· Training
and Development
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.91 |
|
|
1 |
Rs.80.46 |
|
Euro |
1 |
Rs.54.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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%)
RATING EXPLANATIONS
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|