MIRA
INFORM REPORT
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Report Date : |
01.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
GREEN POWER INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
A-701, Hindon Apartment, Plot No. 25, Vasundhra Enclave, New Delhi –
110096 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.08.2002 |
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Com. Reg. No.: |
55-116541 |
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CIN No.: [Company
Identification No.] |
U74999DL2002PTC116541 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG07590C |
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PAN No.: [Permanent
Account No.] |
AABCG8829R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Suppliers
of Plate Heat Exchanger and Control Panel and Installation of Combined Heat
and Power Generation with Heat Recovery System |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
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 : |
120000 |
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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 well established and reputed having fine track. Trade relations
are fair. Business is active. Payments are reported as 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 : |
A-701, Hindon Apartment, Plot No. 25, Vasundhra Enclave, New Delhi –
110096, India |
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Tel. No.: |
91-11-26477526 |
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Fax No.: |
91-11-26447525 |
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E-Mail : |
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Website : |
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Area : |
Residential |
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Corporate Office : |
B-46, 1st
Floor, Kalkaji, New Delhi - 110 019. INDIA |
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Tel. No.: |
91-11-26447525, 26447526, 26447527, 41603241 |
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Fax No.: |
91-11-26447525 |
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E-Mail : |
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Area : |
Commercial |
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Branches : |
E/3 Sanskar Apartment, Opposite Shakti School, Near S M Bridge, 132 Ft
Ring Road, Ahmedabad 380 015, Gujarat, India |
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Tel. No.: |
91-79-26779977 |
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Fax No.: |
91-79-26779977 |
DIRECTORS
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Name : |
Mr. Sanjeev Puri |
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Designation : |
Managing Director |
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Address : |
A-701, Hindon Apartment, Plot No. 25, Vasundhra Enclave, New Delhi –
110096, India |
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Date of Birth/Age : |
22.02.1964 |
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Date of Appointment : |
13.08.2002 |
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Name : |
Mr. Praveen Pai |
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Designation : |
Director |
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Address : |
A-701, Hindon Apartment, Plot No. 25, Vasundhra Enclave, New Delhi –
110096, India |
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Date of Birth/Age : |
14.05.1973 |
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Date of Appointment : |
13.08.2002 |
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Name : |
Ms. Meenakshi Puri |
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Designation : |
Director |
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Address : |
A-701, Hindon Apartment, Plot No. 25, Vasundhra Enclave, New Delhi –
110096, India |
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Date of Appointment : |
15.11.2004 |
KEY EXECUTIVES
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Name : |
Mr. Sanjeev Puri |
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Designation : |
Chief Executive
Officer |
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Tel No: |
91-11) 33005601 |
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E Mail : |
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Name : |
M/s Santosh Kumar and Associates |
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Designation : |
Company Secretaries |
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Address : |
3 Laxman Puri, GRP Lane, Moradabad 244 001 |
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Tel No: |
91-591-2483502 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Sanjeev Puri |
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119900 |
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Ms. MeenaKshi Puri |
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100 |
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Total |
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120000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Suppliers
of Plate Heat Exchanger and Control Panel and Installation of Combined Heat
and Power Generation with Heat Recovery System |
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Products : |
·
Flow Meter ·
Radiator System ·
Accoustic Enclosure ·
Heat Recovery System ·
Power and Control Cable ·
Air Cooled Fluid Cooler ·
Ventilation System ·
Power Panel ·
Steel and Sections
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GENERAL
INFORMATION
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Customers : |
Domestic and Overseas market for Pharmaceutical and Engineering
Industries |
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Bankers : |
·
HDFC Bank Limited (Current A/c
No. 0882210000081 & 0030330003694), First Floor, Kailash Building, 26 K G
Marg, New Delhi 110 001 ·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
West, Mumbai – 400013, Maharashtra, India
·
ICICI Bank Limited |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
Gupta Pathak and Company Chartered Accountants |
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Address : |
Flat No 232, 32, Park Area, Ajmal Khan Road, Karol Bagh, New Delhi –
110005, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
110,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.100
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.100 |
1.100 |
1.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
28.310 |
10.972 |
3.842 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
29.410 |
12.072 |
4.942 |
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LOAN FUNDS |
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1] Secured Loans |
1.101 |
1.164 |
0.098 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.126 |
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TOTAL BORROWING |
1.101 |
1.164 |
0.224 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
30.511 |
13.236 |
5.166 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.025 |
4.993 |
1.812 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.068 |
0.027 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
12.862
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4.088 |
3.456 |
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Sundry Debtors |
19.698
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19.926 |
15.682 |
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Cash & Bank Balances |
20.082
|
4.128 |
4.428 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
28.617
|
8.401 |
3.055 |
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Total
Current Assets |
81.259
|
36.543 |
26.621 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
38.763
|
21.565 |
20.780 |
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Provisions |
17.078
|
6.787 |
2.537 |
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Total
Current Liabilities |
55.841
|
28.352 |
23.317 |
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Net Current Assets |
25.418
|
8.191 |
3.304 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.025 |
0.050 |
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TOTAL |
30.511 |
13.236 |
5.166 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
190.315 |
95.011 |
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Other Income |
|
23.811 |
0.000 |
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Total Income |
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214.126 |
95.011 |
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Profit/(Loss) Before Tax |
|
26.600 |
11.227 |
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Provision for Taxation |
|
9.262 |
4.097 |
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Profit/(Loss) After Tax |
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17.338 |
7.130 |
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Expenditures : |
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Financial Charges |
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0.540 |
-- |
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Other Expenditure |
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186.986 |
83.784 |
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Total Expenditure |
|
187.526 |
83.784 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
8.10
|
7.50 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
13.98
|
11.82 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
30.83
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27.03 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.90
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0.93 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.94
|
2.44 |
4.76 |
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Current Ratio (Current Asset/Current Liability) |
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1.46
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1.29 |
1.14 |
LOCAL AGENCY
FURTHER INFORMATION
Registered Office of the company has been shifted from 106, Ashirwad
Enclave, 104, IP Extension, Delhi – 92 to the present address w.e.f. 1st
April 2004
Business
The subject is an
Authorised Distributor of National Gas based Generator sets of Deutz AG,
Germany
Subject undertakes and Installation of Combined Heat and Power
Generation in Domestic & Overseas market for Pharmaceutical and Engineering
Industries
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U74999DL2002PTC116541 |
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Name of the
company |
GREEN POWER INTERNATIONAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
A-701, Hindon Apartment, Plot No. 25, Vasundhra Enclave, New Delhi –
110096, India |
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Type of charge |
|
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Particular of
charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Letter of
hypothecation of Stock and Book Debts |
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Date of instrument
Creating the charge |
24.01.2007 |
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Amount secured by
the charge |
Rs. 20.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1.25 % p.a. such
other rate as may be stipulated by the bank from time to time Terms of
Repayment The facilities
are available for a period of 12 months subject to review at periodical
intervals [or] as may be stipulated by the bank from time to time Margin As may be stipulated
by the bank from time to time Extent and
Operation of the charge First exclusive
charge on stock, book debts and other current assets [both present and
future] |
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Short particulars
of the property charged |
First exclusive
charge on book debts and stock both present and future |
AS PER WEBSITE
Profile
Green Power is a
company promoted by a team of professionals and technocrats having vast
experience in the field of Power Generation. They are a single window power solution
provider from concept to commissioning and subsequent operation and maintenance
of the Heat Recovery and Power Plant (CHP Projects).
They undertake complete turnkey projects for Gas based Power
Plants with Deutz Gas Engine upto 40 MW capacities for Captive (CPP) as well as
Independent Power Plants (IPP).
DEUTZ
is a 130 years old engine manufacturing company based in Germany having a
complete range of state-of-art lean burn gas engines and gensets from 180KW -
4000KW in single unit capacity. These gas engines are designed to operate on
all kinds of gases like Natural gas, Biogas, Sewage gas, Landfill gas etc.
DEUTZ gas
engines bring in the conventional ruggedness of German design coupled with the
patented and sphosticated state-of-art electronic management technology (TEM
System) to control the engine performance parameters under most demanding
conditions for most durable and reliable operation. The Deutz engine
performance meets the world wide exhaust emission standards and ensures low
operating cost with highest fuel efficiency in its class.
Advantages
Technological Advantages
- State-of-the art 6,8,12, 16 and 20 - cylinder V- engines.
- Turbocharging and two stage intercooling.
- Single cylinder heads with four valve technology.
- Centrally arranged industrial spark plug with intensive plug seat
cooling.
- Microprocessor-controlled high voltage ignition system.
- One ignition coil per cylinder.
- Electronic Control and Monitoring of genset operation through TEM
systems.
- Exhaust emissions controlled according to combustion chamber
temperature.
- Intercooling permits maximum power even when using gases with low
methane numbers.
- Reliable control and monitoring with high safety standards ensure
optimum combustion and maximum engine protection.
- All governing, service, control and monitoring functions are easy
and comfortable to operate.
- Designed for 100% continuous operation, long service intervals.
- Compatibility to operate wide variety of gases even with low
methane index and calorific values.
- Environmentally friendly, fuel saving combustion system with low
exhaust emissions. All engines meet the world wide statutory emission
requirements.
- Reduced operating costs through low fuel consumption, low down
times to keep operating and servicing costs minimum.
- Engines for high loads and heavy-duty performance.
- Compact design saves installation space and hence manufacturing
costs.
- Additional benefits through steam production.
Deutz
– TEM
Deutz TEM the total Electronic Management from DEUTZ is the right-hand
man when trouble-free and reliable operation of the genset or plant is what
matters. The TEM sensor technology outperforms nominal / actual value
comparisons. Starting with the engine, the core of the plant, the actuating
signals for the air / gas mixture control are given by the TEM system just like
those for control of gas combustion in the individual cylinders.
The central "management" functions are measuring,
recording, archiving, visualizing, monitoring, and controlling of the entire
engine plant including their periphery and auxiliaries. In addition, it
provides interfaces for overriding plant management systems which handle
control and optimization functions.
Deutz - TEM security and efficiency :
- Control of gas / air mixture and hence combustion
- Individual control of each cylinder
- Monitoring and control of engine generator set
- Monitoring and control of periphery and auxiliaries
- Minimum exhaust emissions far below internationally applicable
limits
- Optimum efficiencies
- Economical utilization, high operational reliability
- Optimum performance even under adverse operating conditions
- Simple and convenient operation
Enviro
– Friendly
Gas engines are the internal combustion engines with the
greatest variety of processable fuels. As they are basically particularly low
emission engines they play a leading part in energy supply generally and
environmental viable alternative to nuclear and thermal power stations on the
other hand.
To make an extra contribution to the conservation of environment
and resources was a top priority in the development of the DEUTZ gas engine
gensets.
To make an extra contribution to the conservation of
environment and resources was a top priority in the development of the DEUTZ
gas engine gensets. To reduce exhaust emissions even further, they opted for
lean-burn combustion.
The lean-burn process can be applied to engines of all
displacements, from the smallest to the largest, and can exploit all
engine-compatible fuel gases i.e natural gas, liquid petroleum gas, bio gas,
sewage, landfill, and pit gas.
DEUTZ developed and patented the multi-gas mixer and
combustion chamber temperature control for metering the gas / air ratio. The
actuating signals are given by the TEM system also developed by DEUTZ. A
characteristic feature is the open piston bowl for the entire engine range
covering the overall power spectrum. The sum of the applied processes enables
us to use very poor gas qualities and still guarantee low exhaust
emissions.
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.39.92 |
|
UK Pound |
1 |
Rs.79.31 |
|
Euro |
1 |
Rs.60.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
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 |
|