MIRA
INFORM REPORT
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Report Date : |
04.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AREVA T & D INDIA LIMITED |
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Formerly Known As : |
ALSTOM LIMITED |
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Registered Office : |
D-2, Gillander House, 8 Netaji Subhas Road, Kolkata - 700001,
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Country : |
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Financials (as
on) : |
31.12.2005 [9 Months] |
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Date of Incorporation : |
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Com. Reg. No.: |
21-23381 |
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TAN No.: (Tax Deduction & Collection Account No.) |
MRTA01297C |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are listed on the Stock Exchanges. |
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Line of Business : |
Manufacturing of all types of Switchgears, Transformers, Reactors and Control Panels. Subject is also engaged in the business of Designing, building and servicing technologically advanced products and systems for the world's energy and transport infrastructure. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
RATING
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STATUS |
PROPOSED
CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 8500000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of multinational Areva Group. Available information indicates high financial responsibility of the company. Trade relations are fair. General financial position is good. Payments are usually correct and as per commitments. The company can be considered good for any normal business dealings. It can be regarded as a promising business partners in a medium to long-run. |
LOCATIONS
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Registered Office : |
D-2, Gillander House, 8 Netaji Subhas Road, Kolkata - 700
001, West |
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Tel. No.: |
91-33-22203991-94/22434705 |
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Fax No.: |
91-33-22203995 |
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E-Mail : |
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Telex: |
041-7766 |
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Website : |
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Head Office : |
457, Anna Salai, Teynampet, Chennai - 600018, Tamilnadu |
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Tel. No.: |
91-44-24364575 / 4146 / 4192 |
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Fax No.: |
91-44-24340511 |
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E-mail : |
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Factory 1 : |
AEI WORKS
1, |
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Tel. No.: |
91-33-2469 5370 / 9370 / 71 |
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Fax No.: |
91-33-2469 6988 / 3509 |
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Factory 2 : |
BEHALA WORKS
P5, |
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Tel. No.: |
91-33-2401 2239 / 7586 |
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Fax No.: |
91-33-2401 7590 |
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Factory 3 : |
PAHARPUR WORKS
58, |
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Tel. No.: |
91-33-2469 5560 / 61 / 65-67 |
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Fax No.: |
91-33-2469 8530 |
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Factory 4 : |
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Tel. No.: |
91-33-2367 5827 / 367 4002 |
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Fax No.: |
91-33-2367 7958 |
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Factory 5 : |
PALLAVARAM WORKS
19/1, GST Road, Pallavaram, Chennai - 600 043, Tamilnadu |
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Tel. No.: |
91-44-2236 8621 / 8723 / 8917 |
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Fax No.: |
91-44-2236 7276 |
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Factory 6 : |
PERUNGUDI WORKS
119/120, Electrical & Electronics Industrial Estate, Perungudi, Chennai - 600 096, Tamilnadu |
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Tel. No.: |
91-44-2496 0696 |
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Fax No.: |
91-44-2496 0024 |
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Factory 7 : |
NAINI WORKS
P. O. Naini, |
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Tel. No.: |
91-532-2697422 / 424 |
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Fax No.: |
91-532-2697604 |
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Factory 8 : |
TARATALA WORKS
1, |
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Tel. No.: |
91-33-24695370 |
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Fax No.: |
91-33-24696988 |
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Branches : |
D-2, Gillander House, Netaji Subhas Road, Kolkata - 700 001,
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Tel. No.: |
91-33-22203991-94 |
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Fax No.: |
91-33-22203995 |
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Branches : |
14th Floor, |
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Tel. No.: |
91-11-26449902/03/07 |
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Fax No.: |
91-11-26449447 |
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Branches : |
Narottam Morarji Marg, Ballard Estate, Mumbai – 400038, |
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Tel. No.: |
91-22-22618141-45 |
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Fax No.: |
91-22-22621170 |
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Branches : |
457, Anna Sali, Teynampet, Chennai – 600018, Tamilnadu |
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Tel. No.: |
91-44-24317100 |
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Fax No.: |
91-44-24323462 |
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Branches : |
T&D PROJECTS
A21-24, Sector 16, Noida – 201301, Uttar Pradesh |
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Tel. No.: |
91-120-22510248 |
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Fax No.: |
91-120-22510032 |
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Branches : |
T&D SERVICE
1st Floor, A/17, Sector – 16, Noida – 201301, Uttar Pradesh |
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Tel. No.: |
91-120-22516475/478 |
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Fax No.: |
91-120-22510801 |
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Branches : |
EDS
457, Anna Salai, Teynampet, Chennai – 600018, Tamilnadu |
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Tel. No.: |
91-44-24317201 |
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Fax No.: |
91-44-24355498 |
DIRECTORS
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Name : |
Mr. S. K. Poddar |
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Designation : |
Chairman (Non-executive) |
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Name : |
Mr. M. V. Dhekne |
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Designation : |
Director |
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Name : |
Mr. Krishna Pillai |
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Designation : |
Deputy Chairman & Joint Managing Director (w.e.f. 01.07.2002) |
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Name : |
Mr. A. K. Dhagat |
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Designation : |
Managing Director |
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Name : |
Mr. C. M. A. Nayar |
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Designation : |
Director (w.e.f. 13.05.2004) |
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Name : |
Mr. Lawrence Hoskins |
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Designation : |
Director (Non-executive) |
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Name : |
Mr. S. M. Momaya |
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Designation : |
Director |
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Name : |
Mr. Michel Augonnet |
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Designation : |
Director |
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Name : |
Mr. Nicolas Swetchine |
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Designation : |
Director |
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Name : |
Mr. Karim Vissandjee |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. K. S. Natarajan |
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Designation : |
Company Secretary & Director (Legal) |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Foreign Principal – Areva T & D SA, France |
26583845 |
66.65 |
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Financial Institutions and Banks |
3368066 |
8.44 |
|
UTI and other Mutual Funds |
3309339 |
8.30 |
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Foreign Institutional Investors |
1490 |
Negligible |
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Corporate Bodies |
752736 |
1.89 |
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Non-resident Indians and Overseas Corporate Bodies |
95730 |
0.24 |
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Directors and their Relatives |
457 |
Negligible |
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General Public |
5727107 |
14.36 |
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Others |
48702 |
012 |
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Total |
39887472 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of all types of Switchgears, Transformers, Reactors and Control Panels. Subject is also engaged in the business of Designing, building and servicing technologically advanced products and systems for the world's energy and transport infrastructure. |
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Products with ITC Code : |
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GENERAL INFORMATION
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No. of Employees : |
3250 |
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Bankers : |
·
Standard Chartered Grindlays Bank Limited,
Kolkata – 700 001, · Citi Bank NA · Canara Bank · BNP Paribas · Punjab National Bank |
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Banking Relations
: |
Satisfactory |
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Auditors : |
Deloitte Haskins & Sells Chartered Accountants |
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Address: |
672, |
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Holding Company : |
Areva T & D SA, France Alstom Holdings SA, |
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Subsidiaries : |
ALSTOM Establissment DeTarbes ALSTOM ALSTOM Moteurs ALSTOM Power ALSTOM Projects India Limited ALSTOM Transport ALSTOM Transport AREVA AREVA AREVA AREVA AREVA Energietechnic, AREVA AREVA Hungaria AREVA Instrument Transformers India
Private Limited AREVA Inturrupter SA AREVA AREVA Lattes AREVA Polland AREVA Sachsenwerk, AREVA AREVA AREVAT&D AG, AREVA T&D Australia Limited AREVA T&D Brazil AREVA T&D DRC AREVA T&D ERT France AREVAT&D Lightning Arresters Private
Limited AREVA T&D Middle East, Sharjah AREVAT&D Protection & Control, AREVA T&D SA AREVA T&D Suzhou HV Switchgears AREVA T&D Sweden AREVA T&D Systems India Limited AREVA Vacuum Interrupter, France AREVA Lionel India Limited Texmaco Limited Zuari Industries Limited |
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Associates : |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000,000 |
Equity Shares |
Rs. 10/- |
Rs. 500.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
39,887,992 |
Equity Shares |
Rs. 10/- |
Rs. 398.880 millions |
|
39,887,472 |
Equity Shares |
Rs. 10/- |
Rs. 398.875 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2005 [9 Months] |
31.03.2005 [12 Months] |
31.03.2004 [12 Months] |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
398.875 |
398.875 |
398.875 |
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2] Reserves & Surplus |
1794.899 |
1547.452 |
1436.203 |
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NETWORTH
|
2193.774 |
1946.327 |
1835.078 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
15.796 |
50.000 |
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2] Unsecured Loans |
100.000 |
0.000 |
87.885 |
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TOTAL BORROWING
|
100.000 |
15.796 |
137.885 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
72.591 |
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TOTAL
|
2293.774 |
1962.123 |
2045.554 |
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APPLICATION OF
FUNDS
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FIXED ASSETS [Net
Block]
|
554.544 |
506.626 |
597.617 |
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Capital
work-in-progress
|
181.023 |
67.191 |
13.839 |
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INVESTMENT
|
97.484 |
96.534 |
113.169 |
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DEFERREX TAX ASSETS
|
136.972 |
109.254 |
142.653 |
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CURRENT ASSETS,
LOANS & ADVANCES
|
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Inventories
|
1857.660 |
1192.781 |
767.135 |
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Sundry Debtors
|
4019.658 |
2826.894 |
2162.501 |
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Cash & Bank
Balances
|
413.617 |
271.022 |
211.600 |
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Loans &
Advances
|
658.012 |
515.116 |
399.677 |
Total
Current Assets
|
6948.947 |
4805.813 |
3540.913 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
|
5223.150 |
3368.981 |
2169.446 |
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Provisions
|
402.046 |
262.240 |
212.253 |
Total
Current Liabilities
|
5625.196 |
3631.221 |
2381.699 |
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Net Current Assets
|
1323.751 |
1174.592 |
1159.214 |
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MISCELLANEOUS
EXPENSES
|
0.000 |
7.926 |
19.062 |
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TOTAL
|
2293.774 |
1962.123 |
2045.554 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.12.2005 [9 Months] |
31.03.2005 [12 Months] |
31.03.2004 [12 Months] |
Sales Turnover
[including other income]
|
8751.020 |
7825.509 |
6190.698 |
|
|
|
|
|
Profit/(Loss)
Before Tax
|
593.941 |
347.829 |
201.882 |
Provision for
Taxation
|
231.297 |
135.866 |
33.059 |
Profit/(Loss) After
Tax
|
362.644 |
211.963 |
168.823 |
|
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|
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Export Value
|
N.A. |
169.425 |
491.014 |
|
|
|
|
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Import Value
|
N.A. |
840.040 |
509.066 |
|
|
|
|
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Total Expenditure
|
8102.870 |
7336.429 |
135.236 |
QUARTERLY RESULTS
|
PARTICULARS |
|
|
31.03.2007 |
|
Type |
|
|
1st
Qtr |
|
Sales
Turnover |
|
|
3608.300 |
|
Other
Income |
|
|
17.200 |
|
Total
Income |
|
|
3625.500 |
|
Total
Expenditure |
|
|
3045.600 |
|
Operating
Profit |
|
|
579.900 |
|
Interest |
|
|
05.900 |
|
Gross
Profit |
|
|
574.000 |
|
Depreciation |
|
|
33.500 |
|
Tax |
|
|
199.200 |
|
Reported
PAT |
|
|
352.400 |
200703 Quarter 1 --------------- Notes Expenditure Includes
(Increase)/Decrease in Stock in Trade Rs 7.50 million Consumption of Raw
Materials Rs 2376.60 million Staff Cost Rs 273.40 million Other Expenditure Rs
382.00 million Employee VSS and related costs Rs 6.10 million Tax Includes
Provision for Current Tax Rs 192.00 million Deferred Tax Rs (11.10) million
Fringe Benefit Tax Rs 7.20 million EPS is Basic & Diluted Status of
Investor Complaints for the quarter ended March 31, 2007 Complaints Pending at
the beginning of the quarter Nil Complaints Received during the quarter 03
Complaints disposed off during the quarter 03 Complaints unresolved at the end
of the quarter Nil 1. With regard to the scheme of amalgamation between AREVA
T&D Instrument Transformers India Pvt Ltd (AITPL) AREVA T&D Systems
India Ltd (ATDSL), AREVA T&D Lightning Arresters Pvt Ltd (ALAPA) with the
company is AREVA T&D India Ltd,the Hon'ble Calcutta High Court had directed
convening a meeting of the equity shareholders of the Company on February 28,
2007. At the said meeting the shareholders approved Scheme with the requisite
majority. The company thereafter filed a petition with the Hon'ble Calcutta
High Court for sanction of the said Scheme alongwith the Chairperson's report.
Notices have been issued to the Central Govt.(Ministry of Company Affairs) for
their NOC.
SUMMARISED RESULTS
|
PARTICULARS |
|
|
31.012.2006 |
|
Type |
|
|
Full
Year |
|
Sales
Turnover |
|
|
1,3513.700 |
|
Other
Income |
|
|
183.000 |
|
Total
Income |
|
|
1,3696.700 |
|
Total
Expenditure |
|
|
1,1845.800 |
|
Operating
Profit |
|
|
1850.900 |
|
Interest |
|
|
31.300 |
|
Gross
Profit |
|
|
1819.600 |
|
Depreciation |
|
|
114.800 |
|
Tax |
|
|
610.400 |
|
Reported
PAT |
|
|
1088.600 |
|
Dividend
(%) |
|
|
00.000 |
KEY RATIOS
|
PARTICULARS |
31.12.2005 [9 Months] |
31.03.2005 [12 Months] |
31.03.2004 [12 Months] |
|
Debt Equity Ratio |
0.03 |
0.04 |
0.09 |
|
Long Term Debt
Equity Ratio |
0.00 |
0.02 |
0.02 |
|
Current Ratio |
1.28 |
1.39 |
1.47 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
6.49 |
4.47 |
3.18 |
|
Inventory |
8.37 |
8.89 |
7.98 |
|
Debtors |
3.73 |
3.49 |
3.17 |
|
Interest Cover
Ratio |
19.68 |
15.06 |
4.59 |
|
Operating Profit
Margin (%) |
7.53 |
7.53 |
5.59 |
|
Profit Before
Interest and Tax Margin (%) |
6.53 |
6.08 |
3.50 |
|
Cash Profit
Margin (%) |
4.78 |
4.76 |
4.38 |
|
Adjusted Net
Profit Margin (%) |
3.79 |
3.32 |
2.29 |
|
Return on Capital
Employed (%) |
40.92 |
28.40 |
11.96 |
|
Return on Net
Worth (%) |
24.36 |
16.03 |
8.38 |
STOCK PRICES
|
Face Value |
Rs. 10/- |
|
High |
Rs. 1017.40/- |
|
Low |
Rs. 997.35/- |
LOCAL AGENCY FURTHER INFORMATION
History
Subject was originally incorporated as General Electric Company of India (GECI) in 1911. GECI was amalgamated with the English Electric Company of India (EEI) in April, 1993 and the name was changed to GEC Alstom India Limited.
The company was promoted by GEC Alstom, The Netherlands, which had interests in GEC Alstom Triveni. The collaborator, GEC Alstom, has a 66.35% stake in the company.
The company came out with a rights issue in July, 1994 to
fund the normal capital expenditure and augment long-term sources of working
capital. In 1982-83, it started
manufacturing of solid-state generators and transformers, vacuum switches and
electric motors in collaboration with GEC International Controls,
The company has been accredited with ISO 9001 Certification for cubicle gear engineered products, switchgear stock products, relays and control panels at Pallavaram Works, Chennai and for fusegear stock products at Hosur Works. Its T & D projects at Chennai plans to get certified to the latest version of ISO 9001 standard in the fiscal 2002.
During the year 1999-2000, two collaboration agreement were
entered during the year with Alstom T & D SA, France for the manufacture of
72.5 kV SF6 Circuit Breakers and 420 kV SF6 Circuit Breakers both operated by
spring mechanism. It has spun off the
energy division into a joint venture with KoCos Messtechnik of
During August, 2001, the 315 MVA 400 kV Transformer was commissioned successfully.
The company has got the approval of High Court of Mumbai for its scheme of amalgamation of Alstom Transport Limited, Alstom Systems Limited and Alstom Power Boilers Limited with itself. During 2002-03 it has successfully tested new generation 145 kV circuit breaker – types GL312 as per IEC standards. It has also commissioned the 420 kV circuit breaker for the 4,500 MW Superthermal Power Plant at NTPC, Talcher
During 2004-05 the company has increased its installed capacity of Switchgear- All types and Transformers & reactors by 1880 Nos and 2300000 kVA respectively. With this expansion the total installed capacity of Switchgear- All types and Transformers & reactors has increased to 90510 Nos and 8500000 kVA respectively.
During April 2005 Alstom Holdings SA and AREVA T&D SA (Jointly with Areva
T&D Holdings SA) has reached an understanding for acquisition of upto
26464400 equity shares (66.35%) held by Alstom Holdings in the company for a
consideration of Rs.806 Million. After the said acquisition the name of the
company was changed from Alstom Ltd to Areva T&D India Ltd from October
2005. Further Alstom has sold its T&D business to AREVA.
In January 2006 the company as decided to transfer its non T&D business
(Meters & Motors) as a going concern to the company's subsidiary, Alstom
Industrial Products Ltd for a consideration of Rs.413 million. This scheme of
arrangement is subject to approval.
Business:
The company is engaged in Manufacturing of all types of Switchgears, Transformers, Reactors and Control Panels.
The company is a 67% subsidiary of Alstom France SA, which is a leading player worldwide in T & D and industrial equipment. The company's main business includes manufacture, sales and support of power transmission and distribution (T & D) and other industrial equipments. The T & D segment manufactures switchgears, transformers, measurement and control systems and undertakes T & D projects. The industrial equipment division manufactures rotating machinery (motors), industrial and domestic fans, alternators and undertakes industrial projects.
The Generic Names of the Principal Products / Services of the company are (As per monetary terms)
|
Item Code No. (ITC
Code) |
Production
Description |
|
85.35 |
Switchgear - All Types |
|
85.04 |
Transformers and Reactors |
|
85.37 |
Control Panels |
|
85.01 |
Motors |
Name change to AREVA T&D India Limited
Pursuant to the Special Resolution passed by the Members at the Annual General
Meeting of the Company held on
Fiftieth year - a milestone:
As they enter the 50th year, it is only appropriate they pause and
take stock of their past.
The Company was incorporated as a Private Limited Company on 13th
March, 1957 under the name 'The English Electric Company of India Private
Limited' in Calcutta (now Kolkata), West Bengal.
This was later converted into a Public Limited Company on
Again, consequent to the exit of GEC plc from the JV, it became a subsidiary of
ALSTOM, France and the Company's name was also changed to ALSTOM Limited,
effective
The recent change, as mentioned earlier, happened in September, 2005, when,
worldwide, the T & D business of ALSTOM, was acquired by AREVA.
Incidentally, all through this, the Registered Office of the company has
remained at the same address viz. D2, Gillander House, Netaji Subhas Road,
Kolkata 700001.
The most important point to be noted here is that despite all these changes, in
the last 50 years, the Company had continued to maintain its steady growth and
transparency. Further, inspite of the name changes, it has been able to retain
its identity and hold on the Indian electrical industry/market. This speaks for
itself about the quality of Company's products and people's commitments. These
changes were appropriate and need of the time.
No doubt, all this has been possible only because of the dedicated and
committed team they had at the helm, from time to time, as well as the support
as Members of the Company and that of the other stakeholders.
The Board wishes to take this opportunity to place on record its deep
appreciation of the former Chairmen/Managing Directors of this Company and the
Management Team, who were responsible for steering the affairs of the Company
at various points of time.
Presently, this legacy is being carried on by Mr. Ajay Dhagat, Managing
Director, who has brought about a perceptible change both to the performance of
the Company and its work culture. Mr. Dhagat has been at the helm since July,
2002 and the growth of the company during this period, has been exponential.
The growth is balanced between various segments like Utility, VAR and
Industry.
Given the direction in which the Energy Sector in their Country is likely to
grow, it is only appropriate to record here that their association with AREVA
could not have come at a more opportune time. They can certainly visualize more
exciting times ahead.
Review of Operations:
The Directors are pleased to report that for the period under report, the
company's growth was satisfactory and they have grown above industry
average.
Both T&D and the non-T&D Segments performed well during this period.
The non-T&D business is in the process of being hived off as detailed
hereunder.
The review of performance of each Segment/Business of T&D is as under. It
may please be noted that comparative figures/forecasts and percentages
mentioned herein are against the corresponding nine month period of last
year.
Order book of the company is satisfactory and well addressed.
This Company is able to leverage the products and systems competency of other
AREVA T&D Units in the Country and this helps themin enhancing customer
concept for all products together.
Transmission and Distribution Segment:
Automation:
Order intake increased by 35% and increase in sales was over by 21%. Order in
hand is satisfactory.
Export sales were about Rs.79 million, which represents 42% growth. In order to
further consolidate its market share in Relays, certain new types are proposed
to be introduced viz. Numerical LBB Relay, Numerical Current Differential Relay
and Numerical Distance Relay. Further, approvals have been received from NTPC
for the Numerical Busbar Protection Scheme and Panels for their 765 kV
Switchgear at SIPAT.
Also, during the current year, the business has planned to export HA Relays
using
MV Switchgear:
Growth and performance of this Unit were better than industry growth. The Unit
was also successful in exporting Vacuum Interrupters and Circuit Breakers to
Transformer:
Power Transformer:
This Unit further consolidated its position during the year. Order intake was
98% higher in comparison with the same period last year, part of it was also
due to increase in input materials, which has pushed Transformer prices by
32%.
During the year, input material increase could not be passed on to market and
partly for 2006 also it will be the same.
The Unit manufactured and delivered successfully the biggest Generator
Transformer (210 MVA) for Gauthami and the biggest Furnace Transformer (42 MVA)
for ISAAL. Upgradation of capacity has been completed and will further improve
performance.
Distribution Transformer:
The performance of this Unit, during the period, was satisfactory. Order input
increased by 72% and sales was higher by 32%. Again part of increase is due to
increase in input material prices.
Technology change is being implemented for reducing material content.
HV Switchgear:
They are proud to report that this Unit is fast aligning itself to latest
global technologies. In the current year too, a prestigious order has been
received for the supply of 3 nos. of 800 kV Circuit Breakers Type GL 318 from
NTPC for their SIPAT project. This is a testimony to Indian Unit's expertise
and its world-class products.
Considering the tremendous market potential for these products, capital
investment is being made in this Unit also to augment capacity.
Sustainable Development and Continuous Improvement (SD&CI):
During the period under report, all Units of the company, including the sales
organization, progressed well with the implementation of the `Global
Sustainable Development (SD)' model, `
* Taratala Works (AEI)* Salt
Further, the implementation of Quality improvement actions, based on global
change management initiatives, for example Six sigma methodology, have
continued to progress well across all the Units of the Company. To quote a few
results of improvement actions:
* Single piece flow line implemented for mechanism assembly resulting in 55%
increase in productivity.
* Flow and layout improvements in AEI - Fabrication shop, resulting in WIP
divided by 8.
* Pre-treatment, coating and plating process improvements in AEI resulting in
improvement in process sigma from 3 to 5.
The Joint Venture agreement with
The company has been awarded with "ISO-9002" Certification.
It has joint venture with GEC Installation Equipment
Limited,
It imports its requirements from
The company is in trade terms with :
Adco Rubber Industries
Alfa Industries
Allied Electricals & Switchfuses
And Independent Power Producers
Brite Glass Works Private Limited
Capital Enterprises
Chowdhury Engineering Company
Deco Paints & Chemicals
Delta Trans Conductors Private Limited
Electro Chemicals
Esko Die Casting Private Limited
Grandco Iron & Allied Industries
Gururaj Radiators Private Limited
Gyro Laboratories Limited
Hatim Die Electric Private Limited
Hrheem Electronics Private Limited
Iika Metal India Private Limited
Indian Railways
Indo-British Spring Manufacturing Company
Jay Tara Engineering Company
Kapson India Private Limited
Lads Tools & Services
Latika Engineering Company
National Hydro Power Corporation
National Thermal Power Corporation
Pearl Indulation Private Limited
Power Grid Corporation of India Limited
Pushpanjali Srimurugan Industries
Sinha Insulated Cables Private Limited
State Electricity Boards
Super Jewel Bearings Private Limited
Super Tech
Sur Electrical
Tee
Tesla-Mag Products
Universal Industries
V. L. Cables Limited
Venus Engineering Services
Vikas Enterprises
Watterman Industries Limited
Yash International
The company’s fixed assets of important value include land, buildings, plant and machinery, furniture, fittings and equipment, motor vehicles and railway siding.
Parent Company
ALSTOM SA, France
It is a Public Limited Company incorporated in
Memberships
Confederation of Indian Industry
About them:
ALSTOM in
ALSTOM, the global leader in power and rail transport, is in the business of designing, building and servicing technologically advanced products and systems for the world's energy and transport infrastructure.
In
Commencing its operations in Kolkata in the 1910s and later
in Chennai in the 1950s, ALSTOM in
The Industrial equipment division with annual sales of 15 Million Euro manufactures rotating machinery, motors, industrial and domestic fans.
ALSTOM in
In
In
ALSTOM's
Improve conditions for millions of people and work towards a cleaner and better environment.
ALSTOM's Commitment:
Constantly innovate and develop new products, which provide better performance and cost-effective solutions.
Reduce polluting emissions and strive towards environmental protection.
ALSTOM's hallmark for quality in
ALSTOM is a global leader in power generation and rail transport infrastructure. The Company serves the energy market through its activities in the field of power generation and the transport market through its activities in rail and marine. ALSTOM's annual sales are around €14 billion. It employs 69,000 people in over 70 countries worldwide.
ALSTOM is listed on the Paris Stock Exchange.
ALSTOM is the majority shareholder in ALSTOM Projects India Ltd.
on 7'' April 2005, which contained the detailed terms of the understanding reached between ALSTOM Holdings SA and AREVA T&D SA (jointly with AREVA T&D Holdings SA) for the acquisition of upto 26,464,400 equity shares (66.350l0) held by ALSTOM Holdings in the Company for a consideration of Euros 14.50 million i.e Rs. 806 million which translates to Rs. 30.45 per share and an Offer to purchase upto 20% i.e. upto 7,977,495 equity shares from the public at a price of Rs. 75.03 per share.
FRENCH energy major Areva SA plans to spend as much as Rs 806 millions to acquire a 66.35-per cent stake in Alstom Limited, Alstom Holdings SA's Indian unit.
Areva will also make an offer worth Rs 598 millions to the
shareholders of Alstom Limited to buy an additional 20 per cent at Rs 75.3 a
share, HSBC Securities and Capital Markets (
Areva's final shareholding in Alstom Limited will depend on the response to the open offer. The company intends to stay listed on Indian stock exchanges, HSBC said.
Areva has already acquired the transmission and distribution
assets of Alstom Holdings SA outside
The offer for the 20-per cent stake opens on May 30 and closes on June 18, the advertisement said.
The acquisition in Alstom is being made to strengthen
Areva's position in the transmission and distribution business in
Areva said in a statement from
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 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.40.90 |
|
|
1 |
Rs.81.29 |
|
Euro |
1 |
Rs.55.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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 |
|