%20LIMITED%20-%20MITSUBISHI%2004-Jan-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ENERCON (INDIA) LIMITED |
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Registered Office : |
Plot No. 33 Daman
Patalia Road, Bhimpore, Daman – 396210, UT of Daman |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.05.1993 |
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Com. Reg. No.: |
56-3236 |
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CIN No.: [Company
Identification No.] |
U74999MH1993PTC071899 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRE00726F/SRTE00116E |
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Legal Form : |
A closely held Public Limited Liability
Company |
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Line of Business : |
Manufacturer of Wind Turbines |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 1500000 |
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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 records. 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 good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office / Head Office: |
Plot No. 33 Daman
Patalia Road, Bhimpore, Daman – 396210, UT of Daman, India |
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Tel. No.: |
91-260 – 2220624 / 2221219
/ 2221220 / 2220321 / 2220628 |
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Fax No.: |
91-260 - 2221508 |
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E-Mail : |
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Website: |
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Administrative Office : |
Kolsite House,
Plot No. 31, Shah Industrial Estate, Veera Desai Road, Andheri (West). Mumbai-400053,
Maharashtra, India |
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Tel. No.: |
91-22-6364848 / 56924848 |
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Fax No.: |
91-22-6315153 /
6315327 / 26730085 |
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E-Mail : |
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Website : |
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Corporate Office : |
Enercon Tower, A-9, Veera Industrial Estate, Veera Desai Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
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Factory : |
Concrete Tower Factory : Plot No 610 / 611, Village Sadodar,Taluka : Jamjodapur,
Dist Jamnagar, Gujrat - 360520. Tel : 91-2898 - 262372 /
262545/ 262547 Fax : 91-2898 - 262374 Manufacturing Plant (E48): Plot No. 33, Daman Patalia Road, Bhimpore, Daman - 396210. Tel : 91-260 - 22 20 624/
22 21 219,22 21 220/22 20 321 Fax : 91-260 - 2221508 Manufacturing Plant (E33): 87-B, Silver Industrial Estate, Bhimpore, Daman - 396210. Tel : 91-260 - 22 20 624/
22 21 219,22 21 220/ 22 20 321 Fax : 91-260 - 2220188 |
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Branches : |
Bangalore Tel : 91-80-5197 8000 Fax : 91-80-5197 8080 New Delhi 513/514, World Trade Centre, Barakhambha
Lane, New Delhi - 110 001 Tel .:91-11-51528317 / 18 / 19 Fax. 91-11-51528590 Pune Tel: 91-20-26051992/3 Fax: 91-20-24030524 Coimbatore Tel : 91-422-221 3001/07 Fax: 91-422-2212674
Jaipur Tel :91-141-510 3426/511
2536 Fax :91-141-510 3427 Hyderabad Tel : 91-40 – 5584 9999 Ahmedabad Tel : 91-79-27471914 /
27438414 Chennai Tel : 91-44-52147910/52057008 Fax :91-44-52057009 Vadodara Tel : 91-265-233 5541 /
233 5478 Fax : 91-265-234 0439 Bhopal Tel :91-755-5252425 Chandigarh Tel : 91-172-2669852 Porbandar Tel : 91-286 – 2214985 Fax : 91-286 – 2241628 |
DIRECTORS
|
Name : |
Mr. Yogesh Mehra |
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Designation : |
Managing Director |
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Address: |
201, Hare Krishna, Presidency Soceity, North South Road, Vile Parle
West, Mumbai – 400049 |
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Previous
Employment |
20 Years |
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Qualification |
B.Com |
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Experience |
8 Years in Related Field |
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Date of Birth/Age
: |
01.12.1959 |
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Date of
Appointment: |
22.05.203 |
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Email: |
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Name : |
Mr. Ajay Mehra
Jogindernath |
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Designation : |
Director |
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Address: |
301, Hare Krishna, Presidency Soceity, North South Road, Vile Parle
West, Mumbai – 400049 |
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Date of
Birth/Age : |
06.12.1955 |
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Date of
Appointment: |
22.05.2003 |
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Email: |
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Name : |
Ms. Juanita
Fromme |
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Designation : |
Director |
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Name : |
Mr. Fromme Junita
|
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Designation : |
Director |
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Address : |
Bremen, Germany |
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Date of
Birth/Age : |
23rd
June, 1961 |
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Name : |
Mr. Monnerjahn
Martin |
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Designation : |
Director |
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Address : |
Aurich, Germany |
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Date of
Birth/Age : |
26th
January, 1968 |
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|
|
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Name : |
Mr. Kettwing
Hans-Dieter |
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Designation : |
Director |
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Address : |
Dreekamp – 5,
26605, Aurich, Germany Kolsite House, Plot
No. 31, Shah Industrial Estate, Veera Desai Road, Andheri (West).
Mumbai-400053, Maharashtra, India |
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Date of
Birth/Age : |
23.11.1957 |
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Date of
Appointment: |
11.03.2002 |
KEY EXECUTIVES
|
Name |
Mr. Manoranjan
Karmakar |
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Designation |
Company Secretary |
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Address: |
Flat No.1404, Raj
Manor, B Wing, Liberty Garden,Malad (West), Mumbai – 400064 |
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Date of Birth |
29.04.1956 |
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Date of
Appointment: |
22.05.2003 |
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Email: |
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Name : |
Dr. Aloys Wobben |
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Designation : |
Chairman |
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Address : |
Dreekamp – 5,
26605, Aurich, Germany Kolsite House, Plot
No. 31, Shah Industrial Estate, Veera Desai Road, Andheri (West).
Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
22.01.1952 |
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Date of Appointment: |
24.02.1994 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Equity shares |
|
|
Enercon GmbH,
Germany |
4032000 |
|
Mr. Mehra
Jogidernath Ajay |
680000 |
|
Mr. Mehra J
Minakshi |
432000 |
|
Mr. Yogesh Mehra |
832000 |
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Mrs. Radhika Yogesh Mehra |
304000 |
|
Mr. Mehra Ajay Sitakshi |
16000 |
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Mr. Mehra Ajay Siddharth |
8000 |
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Mr. Mehra J Sudarshan |
896000 |
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Total |
7200000 |
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Preference shares |
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Enercon GmbH |
900000 |
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Category |
Percentage |
|
Foreign Holding FIIs, FCs, FFIs, NRIs, or OCB |
74.00 |
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Directors or relatives of directors |
26.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Wind Turbines |
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Products : |
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Brand Names : |
“E-30” and “E-40” |
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Exports : |
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Countries : |
Germany |
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Imports : |
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Countries : |
Germany |
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Terms : |
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Selling : |
90% locally and 10%
in international market against 100% payment on commissioning. |
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Purchasing : |
Credit locally
(90 days) and for overseas (180 days) terms.
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PRODUCTION STATUS
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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E-30 |
Nos. |
200 |
59 |
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E-40 |
Nos. |
100 |
37 |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
900 |
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Bankers : |
Address: Trishul 3rd
Floor, Opposite Samartheshwar Temple, Law Garden Ellis Bridge, Ahmedabad –
380006, Gujarat, India
Address: BA, 77 Robinson Road, #09-00 SIA Building, Singapore, NA –SG
06896. |
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Facilities : |
Cash Credit – Rs.
170.024 Millions Working Capital –
Rs. 677.500 Millions Interests on Rs.
1.652 Millions Foreign Currency
Loan – Rs. 878.799 Millions ST Loan – Rs. 250.000
Millions Vehicle Loan –
Rs. 14.980 Millions Plant and Mach
Loan – Rs. 5.655 Millions Office Equip Loan
– Rs. 16.674 Millions |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Deloitte Haskins
and Sells Chartered Accountants |
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Address : |
12, Annie Besant
Road, Opposite Shivsagar Estate, Worli, Mumbai – 400018 |
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Associates/Subsidiaries : |
· Enercon Exports (India) Limited Address: Kolsite House, Plot No. 31, Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai-400053,
Maharashtra, India Activity: Manufacturers and Exports printed circuit boards, control
panels, Pitch boxes and relay boxes to Enercon GmbH. Shareholding’s of parent company – 100% · Enercon Wind Farms (India) Limited Address: Kolsite House, Plot No. 31, Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai-400053, Maharashtra, India Activity: Generation of Power Shareholding’s of Parent Company – 26% · Enercon Wind Farms (Krishna) Limited · Enercon Wind Farms (Karnataka) Limited · Enercon Wind Farms (Jaisalmer) Private Limited · Enercon Financial Consultancy Private Limited · Enercon Wind Farms (Rajasthan) Private Limited · Enercon India Power Development Private Limited · Enercon Winds Farms (Hindustan) Private Limited · Enercon Wind Farms (Prithvi) Private Limited · Enercon Wind Farms (Nettur) Private Limited · Enercon Wind Farms (Chitradurga) Private Limited · Eil South Africa Power Development Pty. Limited · Enercon Lanka Power Development Private Limited · Gi Wing Farms Limited · Enercon India Infrastructure Private Limited |
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Parent Company
: |
Enercon GmbH,
Germany |
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Address: |
Dreekamp 5,
D-26605, Aurich, Germany |
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Tel No.: |
91-49/4141/927-0 |
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Line of Business: |
Manufacturers and Selling of Wind Turbines Shareholding’s of
parent company – 56% |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity shares |
Rs.10/- each |
Rs.90.000 Millions |
|
1500000 |
Equity shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.240.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7200000 |
Equity shares |
Rs.10/- each |
Rs.72.000
Millions |
|
450000 |
Equity shares |
Rs.100/-
each |
Rs.45.000
Millions |
|
|
Total |
|
Rs.117.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
117.000 |
162.000 |
207.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3750.109 |
2586.611 |
2024.484 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3867.109 |
2748.611 |
2231.484 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3283.564 |
2015.284 |
1152.279 |
|
|
2] Unsecured Loans |
569.024 |
1315.492 |
487.728 |
|
|
TOTAL BORROWING |
3852.588 |
3330.776 |
1640.007 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
208.280 |
94.079 |
|
|
|
|
|
|
|
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TOTAL |
7719.697 |
6287.667 |
3965.570 |
|
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|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
2887.111 |
1200.538 |
531.939 |
|
|
Capital work-in-progress |
698.843 |
90.268 |
17.049 |
|
|
|
|
|
|
|
|
INVESTMENT |
1178.294 |
1071.608 |
524.056 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3438.058
|
3951.785 |
1195.351 |
|
|
Sundry Debtors |
3967.497
|
4085.839 |
3813.590 |
|
|
Cash & Bank Balances |
2097.460
|
261.249 |
623.778 |
|
|
Other Current Assets |
26.835
|
7.301 |
14.502 |
|
|
Loans & Advances |
2529.035
|
1350.682 |
1182.417 |
|
Total
Current Assets |
12058.885
|
9656.856 |
6829.638 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
8596.306
|
5373.948 |
3590.421 |
|
|
Provisions |
507.130
|
357.655 |
346.691 |
|
Total
Current Liabilities |
9103.436
|
5731.603 |
3937.112 |
|
|
Net Current Assets |
2955.449
|
3925.253 |
2892.526 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7719.697 |
6287.667 |
3965.570 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
16733.427 |
8831.890 |
7096.132 |
|
|
Other Income |
478.930 |
1662.260 |
0.000 |
|
|
Total Income |
17212.357 |
10494.150 |
7096.132 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
1418.142 |
749.224 |
704.289 |
|
|
Provision for Taxation |
233.165 |
174.200 |
71.400 |
|
|
Profit/(Loss) After Tax |
1184.977 |
575.024 |
632.889 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
36.495 |
34.227 |
0.000 |
|
|
Other Earnings |
0.000 |
0.000 |
65.035 |
|
Total Earnings |
36.495 |
34.227 |
65.035 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Components and Spares Parts |
4276.102 |
3511.545 |
0.000 |
|
|
Capitals Goods |
177.449 |
585.525 |
0.000 |
|
|
Others |
0.000 |
0.000 |
2134.450 |
|
Total Imports |
4453.551 |
4097.070 |
2134.450 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation |
150.891 |
80.731 |
|
|
|
Financial Charges |
439.600 |
269.860 |
13.126 |
|
|
Other Expenditure |
14613.233 |
9043.744 |
|
|
Total Expenditure |
15203.724 |
9394.335 |
13.126 |
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%20LIMITED%20-%20MITSUBISHI%2004-Jan-2008_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
6.88
|
5.47 |
8.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.47
|
8.48 |
9.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.06
|
6.84 |
9.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.27 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.35
|
3.29 |
2.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.68 |
1.73 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate identity
number (CIN) Foreign company registration number |
U74999MH1993PTC071899 |
|
Name of the
Company |
ENERCON (INDIA)
LIMITED |
|
Address |
Plot No. 33,
Daman Patalia Road, Bhimpore, Daman – 396210, India |
|
This form is for |
Modification of charge |
|
Type of Charge |
|
|
Particulars of
the charge holder |
Axis Bank Limited Trishul 3rd
Floor, Opposite Samartheshwar Temple, Law Garden Ellis Bridge, Ahmedabad –
380006, Gujarat, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Sixth
Supplementary Joint Deed of Hypothecation of Stock and Book Debts dated 31st
January, 2007. |
|
Date of the instrument
creating or modifying the charge |
31.01.2007 |
|
Amount secured by
the charge |
Rs. 14000.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
|
|
Short particulars
of the property charged (including location of the property) |
|
|
Particular of the
present modification |
By way of the
present modification the lenders have agreed to enhance the limits from
Rs.6700.000 Millions to Rs. 14000.000 Millions Refer Annexure D. |
OTHER INFORMATION:
The company was
originally incorporated in Mumbai having company registration No. 11-71899. The
registration office has been shifted to Daman w.e.f. from 22.05.2003 and a new com.
Reg. No. 56-003236 of Daman Registry was obtained
The company is in
the business of producing wind turbine generators.
GI Wind farm
Limited: Pursuant to the scheme of amalgamation the subject company’s wholly owned
subsidiary “GI Wind farms Limited” was amalgamated with the subject company
with effect from the appointed date i.e January 1, 2006 as sanctioned by the
Hon’ble High Court of Judicature at Bombay on March 24, 2006
Enercon Infra
Utilities Private Limited: Pursuant to the scheme of amalgamation the subject
company’s wholly owned subsidiary “Enercon Infra utilities Private limited” was
amalgamated with the subject company with effect from the appointed date i.e
April 1, 2005 as sanctioned by the hon’ble High Court of Judicature at Bombay
on April 7, 2006.
Investment in the
share of subsidiaries during the year:
- Enercon India Power Development Private
Limited: 100000 shares of Rs. 10 each
- Enercon Infra Utilities: 12500 shares
of Rs. 10 each
- GI Wind Farms: 2005000 shares of Rs. 10
each
- Enercon Wind Farms : 10465200 shares of
Rs. 10 each
- Enercon Financial Consultancy: 10000
shares of Rs. 10 each
AS PER WEBSITE
The Company GmbH's global slogan
“ENERGY FOR THE WORLD ".
It launched its operations in India in the year 1994 with the formation of its
subsidiary subject.
As market leader in Germany, subject worldwide has
already installed over 7400 Wind Energy Converters (WEC's) all over the world
with total installed capacity crossing 6600 Mega Watt.
Subject
is a Joint Venture between Foreign Promoter Enercon GmbH, Germany
and the Indian Promoters Mehra Group with a share holding position of 56% and
44% respectively.
Enercon Financial Consultancy Private Limited
(EFCPL) is a 100% Subsidiary of the company and to provide the
valuable service of assisting its projects with funding options.
Enercon (India) Power Development Private Limited (EIPDPL) is born
out on Enercon's objective to achieve the target of establishing 1000 MW of
clean energy by the year 2010. It is a 100% owned subsidiary of the company.
CONCRETE tower manufacturing for
E-48
The 8000 square meter tent surface is situated in Jamnagar,
Gujarat. Subject first mobile prefab concrete tower factory has been put up.
Arranged in a figure eight, this double tent measures 50 m in diameter through
the main section and is 36 meters high. 74 m high E-48 towers will be produced
here in 18 segments with a 5.50 m base diameter and a tower top diameter of
1.80 m.
Corporate Profile
Subject is ISO-9001:2000 certified for manufacturing,
installation and services. It is supported with the latest design and
development from its Principals, Enercon GmbH.
- Subject is a
56:44 venture between Enercon GmbH and The Mehra family of Mumbai.
- Subject's
commercial operations commenced in 1995.
- It is an ISO
9001:2000 certified company for manufacturing, installation and services.
- Has successfully
implemented SAP and connected all sites with V-SAT.Has two manufacturing
plants at Daman for Wind Energy Convertor and manufacturing plant at
Sadodar, Gujarat for Concrete Tower.
More than 1700 employees are working for subject. - Manufactures and
markets two models with ratings
330 KW (E-33) and 800 KW (E-48). - Turnover was
Rs 8.90 billion in the year 2004-05
- The company's
Net Worth was more than Rs.2.75 billion as at 31-March-2005.
- Total gross
block of Rs. 1.45 billion.
- Presence in
major high potential states viz. Gujarat, Karnataka, Madhya Pradesh,
Maharashtra, Rajasthan, Tamilnadu, and Andhra Pradesh.
-
Financial Highlight
·
At the company, their total
installations crossed 1000 WECs and 500 MW benchmarks during year 2004-05.
·
In a short span of ten years, subject has installed
1205 Wind Energy Converters all over India with total installed capacity of 565
MW by end of 31 March, 2005.
Landmark events of
2004-2005
Concrete Tower Facility in Jamnagar, Gujarat is up and
running. Pre-stressed concrete tower technology has been
introduced in India for the first time by subject this year and the facility
was established in a short duration of 8 months. This enables Subject install
WECs at a hub height of 74 meters resulting into higher generation, especially
in low and medium wind regimes. It is economical to maintain projects with
concrete towers, as there is no exposure to corrosion.
- Two new models of WECs
- E33 and E48 - along with new blade design were introduced this year. Continuous
R and D oriented towards India's needs and characteristics aimed at
improving the cost effectiveness of the power generated has enabled
introduction of two new models - E33 (330KW) and E48 (800KW) - with a
revolutionary rotor blade profile. Higher hub heights, improved blade
design and efficient generation and control systems combined together
enables Subject scale new heights in power generation and cost
effectiveness.
- Extension of
Manufacturing Unit 2 for capacity increase. In
a short span of only 6 months, this extension was achieved. This expansion
has taken the total manufacturing capacity of the company to 700 E48 WECs
and 100 E33 WECs .
- Enercon Training
Academy At Udhwada Going Operational. Subject
believes in taking the best quality WECs to the market place. The quality
consciousness at the company is not just a word - it is a very serious
ingredient of the manufacturing and service process. Enercon Training
Academy is imparting training and education to personnel at various stages
of their career. This state-of-the-art facility caters solely to the
Enercon Family to begin with and gradually achieve the status of ultimate
destination for engineering education related to wind energy
New Things
Coming Up
- Additional
blade manufacturing plant at Daman.
- Enercon
Corporate House at Mumbai on plot of Land measuring 1688 sq.mts near the
present corporate office is identified for setting up 40,000 sq.
ft. Corporate House in Mumbai.
Customers
Their customers can be broadly divided into five segments. Mentioned below are these segments along with an example of one customer for each one of them.
Captive consumer
- Bharat Forge Limited
- Captive consumer, also selling to (SEBs)
- Jindal Aluminium Limited
- Selling to private parties
- CEPCO Industries Private
Limited
- Power Utilities
- Karnataka Power Corp.
Limited
- Reliance Energy Limited.
Subject’s list of customers reads like a veritable roster of
blue chip companies. The most remarkable aspect of their customers is that a
large number of them have come back for repeat orders. Can there be a better
testimony of customer delight? Here are a few of Subject’s customers:
Subject customer base is spread
across India covering all states identified with commercial feasible wind
potential.
Quality Policy
They consider it as their fundamental concern to understand the needs and requirements of their esteemed customers and are committed to give products and services that consistently meet the agreed up on requirements and needs of their customers.
They are committed to Total Quality Management for
achieving Business Growth through Customer Delight, at optimum costs by-
- Implementation of a Quality Management
System based on ISO 9001: 2000 international standards.
- Continual improvement of these systems
as well as process by establishing measurable objectives and by
periodically reviewing them.
- Competence development of Human
Resources
QUALITY OBJECTIVES
· To identify, establish, implement and continually improve Business Management Processes.
· To improve production as well as inspection processes to achieve better productivity and quality
· To ensure timely availability of Materials, Machines and Manpower.
· To ensure timely delivery of products and services
· To continually develop competence of employee
The Enercon way
It is not technology alone. Subject strict adherence to
a 10-Point Programme has created enduring competitive advantages for the
company, leave alone financial stability and security.
1. EMPOWERMENT OF
PEOPLE:
At the company, they believe that business is all about
people. They invest in both values and knowledge in their people. They empower
them to serve their clients in the best possible way.
2.
FINANCIAL COMMITMENT:
Subject reinvests its profits in the development of plants
and processes. Subject commitment to the wind energy industry is complete.
3.
GLOBAL KNOWLEDGE BASE:
Subject can cater to any kind of requirement almost anywhere
in the world. Over the years, Subject has acquired comprehensive local
knowledge of climatic conditions, infrastructure facilities and statutory
obligations on a global scale.
Subject is the only company in the world to have the
distinction of installing WEC's in the extremely severe conditions of Antarctica.
Unique learning accrued from such installations gets
institutionalized and helps Subject to serve its customers better in other
parts of the globe as well.
4. THE
SERVICE EDGE:
Extensively trained service professionals are available in
all the markets to provide lifetime care of all subject wind energy converters.
They follow a rigorous maintenance regimen for all the wind
energy converters, leaving virtually nothing to chance.
5.
COMPLETE CONTROL ON PRODUCTION:
Thanks to in-house manufacturing of all key components,
subject production takes place according to the most stringent quality
standards.
Technology transfer to all their production facilities
across the world results in timely delivery of design-wise compatible products
and services.
6.
RESEARCH AND DEVELOPMENT:
With the largest team of research engineers in the wind
energy sector Enercon's Research and Development is characterized by its
ability to constantly push the envelope.
7.
QUALITY CENTERED PROCESS CONTROL:
Subject has ISO-9001 certification for its quality system.
In addition, Subject also sets and acts on its own benchmark on quality.
Subject Quality Protocol system is a fail-safe mechanism to create all round
accountability by enabling the tracking of manufacturing and servicing history
of each every operation.
8.
STANDARDISED PROCESSES:
The company develops its own process engineering systems
according to requirements. This ensures
a uniform and consistent manufacturing standard at all Subject production
facilities throughout the world.
9.
VENDOR CARE:
Subject believes in developing long term, win-win
relationships with its vendors. That is why; its suppliers too never compromise
on Subject quality standards. Furthermore, Subject engineers work together with
its vendors to continually upgrade product quality to ever-higher standards.
10.
ENVIRONMENTAL CONCERN:
Subject is engaged in constant dialogue with power
utilities, economic policy makers and consumers, to promote the cause of clean
energy.
Subject commitment to clean energy goes much beyond pure
business motives. Subject sense of
responsibility towards mitigating the environmental degradation of their planet
due to the use of fossil fuels forms the bedrock of its corporate philosophy.
E-33
The E-33 offers absolute freedom in terms of siting as
well as unmatched flexibility as regards transport, assembly and maintenance as
an ideal basis for combination with other regenerative sources of energy or
storage systems.
The prefabricated
components of the steel tower, nacelle and rotor unit can easily be transported
in containers and erected on site using a modular assembly system and a
standard crane without any difficulty.
The Subject modular construction also means that the
plant offers great ease of maintenance. The systematic arrangement of the
components makes repair work or inspections much simpler.
As a result most maintenance can be carried out directly on site instead
of back at the works, something which minimizes operating costs. No matter
where the converter is installed.
E-33 TECHNICAL DATA
Rated capacity : 330 kW
Rotor diameter : 33.4 m
Hub height : 50 m
Rotor with Pitch Control
Type : Upwind rotor with active pitch control
Direction of rotation : Clockwise
Number of blades : 3
Length of blades : 14 m
Swept area : 876 m˛
Blade material : Fiberglass (reinforced epoxy) with integral lightning
protection
Rotor speed : Variable, 18-45 rpm
Tip speed : 25 - 75 m/s
Pitch control : Three synchronized blade pitch system with battery back-up
Generator :
Synchronous - Type
Hub :
Rigid
Bearings : Tapered roller bearings
Grid Feeding : AC - DC - AC through Convertor - Invertor
Braking System :
3 independent Aero Brakes with emergency
battery back up supply.
Yaw Control: Active through adjustment gears, friction damping
Cut-in Wind Speed:
3 m/s
Rated Wind Speed :
12 m/s
Tower :
Steel Tubular
E-33 PRODUCT EXPERTISE
ENERCON OFFERS A TRULY VALUED SERVICE
FROM CONCEPT TO COMMISSIONING AND EVEN MORE
- Selection
of Site
- Micrositing
Plan
- Acquisition
of land
- All
Government clearances
- Assist
in getting finance
- Supply
, installation and commissioning of the Project
- Operation
of the wind farm
- Offers unique
comprehensive "Operation and Maintenance" package which
including spares, consumables and any break-down maintenance at a fixed O
and M price.
"THUS, TRULY A HASSLE FREE GREEN ENERGY PROJECT
FOR A PROMOTER" for a lifetime from Enercon.
E - 48
The E-48 is one of
Subject most
attention-grabbing products. The converter, which is described in specialist
circles as a "new engineering standard" makes an economic centre out
of virtually any wind site. Alone the large number of almost 3,400 sites makes it
plain that the E-48 results in success both in coastal regions and inland.
All the more impressive are the empirical
values which have been compiled and converted to a high-tech system. What was
provided by its predecessor in the 500 kW performance class in terms of
practical data, is qualified by the current E-48 featuring 800 kW technology in
striking Subject design, catering for the most extreme wind sites between Europe and
Australia.
E-48 TECHNICAL DATA
Rated capacity : 800 kW
Rotor diameter : 48 m
Hub height : 56.85m and 74.85 m
Rotor with Pitch Control
Type : Upwind rotor with active pitch control
Direction of rotation : Clockwise
Number of blades : 3
Length of blades : 20.7 m
Swept area : 1810 m˛
Blade material : Fiberglass (reinforced epoxy) with integral lightning
protection
Rotor speed : Variable, 16-31.5 rpm
Tip speed : 41 - 78 m/s
Pitch control : Three synchronized blade pitch system with battery back-up
Generator:
Synchronous - Type
Hub: Rigid
Bearings : Tapered roller bearings
Grid Feeding : AC-DC-AC
through Convertor - Invertor
Braking System :
3 independent Aero Brakes with emergency back up supply.
Yaw Control:
Active through adjustment gears, friction damping
Cut-in Wind Speed:
2 m/s
Rated Wind Speed : 12
m/s
Tower : Steel
Tubular / Concrete
E-48 PRODUCT EXPERTISE
ENERCON OFFERS A TRULY
VALUED SERVICE FROM CONCEPT TO COMMISSIONING AND EVEN MORE
- Selection of Site
- Micrositing Plan
- Acquisition of land
- All Government
clearances
- Assist in getting
finance
- Supply , installation
and commissioning of the Project
- Operation of the wind
farm
- Offers unique comprehensive
"Operation and Maintenance" package which including spares,
consumables and any break-down maintenance at a fixed O&M price.
"THUS, TRULY A HASSLE FREE GREEN ENERGY PROJECT
FOR A PROMOTER" for a lifetime from Enercon.
Service Academy:
Trained
manpower is a crucial asset of an organisation. In the growing global economy, training
and development of human competence sharpens the competitive edge of an
enterprise. Professional excellence and management commitment are the
cornerstones of an organisation that sustains its growth, quality of service
that ultimately assures customer’s delight!!
Enercon (I) Limited recognizes the potential of trained human resource
and has embarked on an ambitious project of creating a world-class training
academy at Daman, India
Customer Finance:
Enercon Financial Consultancy Private Limited
Enercon Financial Consultancy Private Limited (EFCPL) is a 100%
subsidiary of the company. The entity is set up with an objective to organise
through innovative financial structures meeting the long term funding
requirements of the projects.
They will tailor make the optimum financial
solutions for the Enercon's IPP projects in India and abroad as well as for the
EPC customers of subject. These non-conventional financial solutions will
optimise the cost of borrowings and the corresponding tenors of the debt.
In its endeavour to achieve the above said
objectives, EFCPL has a team of specialists with a blend of engineering talent
with financial acumen. EFCPL presently operates from Mumbai and New Delhi and
will soon have a presence in the southern part of the country as well.
They have successfully achieved financial
closure with long term funding of more than INR 4,500 Million by using -
Revival of financial leasing
·
International credit enhancements through
ECA
·
Domestic credit enhancements through Financial
Institutions
·
Securitisation mechanism etc
EFCPL closely interacts with various
financial institutions and banks both in India and abroad. They also plan to
enter into the insurance consultancy and brokering business. They continue
their efforts through radical and non-conventional thinking to bring about
effective long term financial solutions to Enercon's customers because they
believe
Daily Generation Report
One of the major activity and key benefit of subject
is its online Daily Generation Report (DGR).
Thanks to VSAT and SAP, they are able to provide reports of electricity,
generated by each and every WECs on almost real time basis. Their Customers can
get to see performance of their machines any time on their website.
This can be accessed through their customer Section with a secure Login
ID and Password.
Online Project
Progress Report
Subject has began the activities of delivering online Project Progress Report to it's valued customers so as to know the status of Machine Installation, erection and commissioning.
Their customers can get to see the project progress
of their machines any time on their website. This can be accessed through their
customer Section with a secure Login ID and Password.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.45 |
|
UK Pound |
1 |
Rs.78.14 |
|
Euro |
1 |
Rs.58.04 |
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 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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. |
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 |
|