MIRA
INFORM REPORT
|
Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
GENUS POWER INFRASTRUCTURES LIMITED |
|
|
|
|
Formerly Known as: |
GENUS OVERSEAS ELECTRONICS LIMITED |
|
|
|
|
Registered Office : |
D-116, Okhla Industrial Area, Phase-1, Okhla, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
06.08.1992 |
|
|
|
|
Com. Reg. No.: |
133383 |
|
|
|
|
CIN No.: [Company
Identification No.] |
L51909DL1992PLC133383 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JPRG00418F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCG1218P |
|
|
|
|
Legal Form : |
Public Limited Liability
Company. The company’s shares are listed on the Stock Exchanges. |
|
|
|
|
Line of Business : |
Manufacturer and Distribution of Electronic Energy Meters, Power
Distribution Management Projects, Hybrid microcircuits, Inverters, Batteries,
Home UPS and Online UPS |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 12100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory
track. Trade relations are fair. Business is active. General financial
position is satisfactory. Payments are reported as usually made as per commitments.
The company can be considered good for normal business dealings. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINE BY
|
Name : |
Mr. Rajan Garg |
|
Designation : |
Finance Department |
|
Contact No.: |
91-11-26371882 |
LOCATIONS
|
Registered Office : |
D-116, Okhla Industrial Area, Phase-1, Okhla, |
|
Tel. No.: |
91-11-26371881 |
|
Fax No.: |
91-11-26371883 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
SPL-3, Ricoh Industrial Area, Sitapur, |
|
Tel. No.: |
91-141-2770003 / 2770401 / 3911400
/ 500 |
|
Fax No.: |
91-141-2770355 / 2771355 /
2770319 |
|
E-Mail : |
|
|
|
|
|
Overseas Offices 1 : |
Mansi Globiz Incorporation 1755W Brnadon Blvd., Unit K4, |
|
Tel. No.: |
1 813-661 7048 |
|
Fax No.: |
1 813-354 4647 |
|
|
|
|
Overseas Offices 2 : |
Globionics Pte Limited 22-08, High Street Centre, |
|
Tel. No.: |
65-6337 1698 |
|
Fax No.: |
65-6337 1830 |
|
Website : |
|
|
|
|
|
Overseas Offices 3 : |
Genus Power Infrastructures Limited -
Shenzhen Rep Office 2508, |
|
Tel. No.: |
86-755-82392880 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Ishwar Chand Agarwal |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Rajendra Kumar Agarwal |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. J. K.
Agarwal |
|
Designation : |
Director
(Marketing) |
|
Qualification : |
MBA (S.P. Jain Institute of Management and
Research) |
|
Experience : |
Marketing and Trade Policies. |
|
|
|
|
Name : |
Mr. Giriraj Kishore Sharma |
|
Designation : |
Whole-Time Director |
|
|
|
|
Name : |
Mr. B S Solanki |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rameshwar Pareek |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ram Dayal Sharma |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Indraj Mal Bhutoria |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dharma Chand Agarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vishnu Todi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Raj Agarwal |
|
Designation : |
Executive
Director |
|
Qualification : |
Electronic Engineer |
KEY EXECUTIVES
|
Name : |
Mr. Raj Kumar Yadav |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. S. Vijayvergiya |
|
Designation : |
Sr. Vice President - Inverters / UPS and New
business development in Renewable Energy |
|
Qualification : |
A post graduate in Electronics and Communications, pursuing MBA and
PhD |
|
Experience : |
32 years of experience in the field of Renewable energy and Power
electronics. |
|
|
|
|
Name : |
Mr. Anukram Mishra |
|
Designation : |
Vice President - Metering Solutions
(Operations, Technical and Quality) |
|
Qualification : |
BE (Hons) in Electronics and Communication and M.Tech from IIT,
Chennai |
|
Profile : |
In metering division, his contribution is evident in R and D,
innovations and lean sigma processes and systems. |
|
|
|
|
Name : |
Mr. R. Viswanathan |
|
Designation : |
Vice President - Hybrid Microcircuits and
International Marketing |
|
Qualification : |
Masters degree in Materials Science and Technology (IIT Kharagpur) |
|
|
|
|
Name : |
Mr. Anant Luhadia |
|
Designation : |
General Manager - Turnkey Power Projects |
|
Profile : |
He is now handling business generation and execution of Turnkey Power
Projects across |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.02.2011
|
Names of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
28924620 |
19.04 |
|
|
36435920 |
23.99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
127920 |
0.08 |
|
|
15900 |
0.01 |
|
|
2688593 |
1.77 |
|
|
43000 |
0.03 |
|
|
|
|
|
|
|
|
|
|
33491934 |
22.05 |
|
|
|
|
|
|
|
|
|
|
28428455 |
18.71 |
|
|
16305424 |
10.73 |
|
|
|
|
|
|
|
|
|
|
4322869 |
2.85 |
|
|
1122185 |
0.74 |
|
|
|
|
|
Total |
151906820 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 millions BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distribution of Electronic Energy Meters, Power
Distribution Management Projects, Hybrid microcircuits, Inverters, Batteries,
Home UPS and Online UPS |
|
|
|
|
Products : |
Metering Solutions ·
Residential Meters ·
Industrial / Substation / Agricultural
/Audit Meters ·
Grid Meters ·
Group Meters ·
Special Meters ·
AMR Solutions ·
Software - URJA Electricity
Management Server Engineering Construction and
Contracts ·
Substation Commissioning ·
Transmission and Distribution ·
Electrification ·
Distribution Transformer Metering ·
Billing Solution ·
SCADA Solutions Inverters / UPS ·
Inverters ·
UPS ·
Solar products ·
Batteries Thick Film Hybrid Microcircuits |
|
|
|
|
Exports : |
|
|
Countries : |
|
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
900 |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M L Agrawal and Company Chartered Accountant |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23200000 |
Equity Shares |
Rs.10/- Each |
Rs.232.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14790682 |
Equity Shares |
Rs.10/- Each |
Rs.147.907
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
147.900 |
197.900 |
190.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Equity Share Warrants |
52.200 |
0.000 |
88.800 |
|
|
4] Reserves & Surplus |
2825.000 |
2581.400 |
2278.700 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3025.100 |
2779.300 |
2558.400 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2355.800 |
2202.800 |
1685.300 |
|
|
2] Unsecured Loans |
125.400 |
970.900 |
105.000 |
|
|
TOTAL BORROWING |
2481.200 |
3173.700 |
1790.300 |
|
|
DEFERRED TAX LIABILITIES |
63.100 |
77.300 |
57.600 |
|
|
|
|
|
|
|
|
TOTAL |
5569.400 |
6030.300 |
4406.300 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
690.900 |
665.400 |
565.300 |
|
|
Capital work-in-progress |
15.000 |
6.200 |
3.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
558.200 |
262.800 |
171.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
911.100
|
1149.100 |
602.600
|
|
|
Sundry Debtors |
3763.700
|
3415.900 |
2491.900
|
|
|
Cash & Bank Balances |
318.100
|
479.600 |
558.200
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
1082.700
|
1348.500 |
695.800
|
|
Total
Current Assets |
6075.600
|
6393.100 |
4348.500 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
1724.000
|
1306.100 |
698.900
|
|
|
Provisions |
82.000
|
53.200 |
56.400
|
|
Total
Current Liabilities |
1806.000
|
1359.300 |
755.300 |
|
|
Net Current Assets |
4269.600
|
5033.800 |
3593.200
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
35.700 |
62.100 |
73.100 |
|
|
|
|
|
|
|
|
TOTAL |
5569.400 |
6030.300 |
4406.300 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6538.400 |
5565.700 |
4667.900 |
|
|
|
Other Income |
127.400 |
153.300 |
26.100 |
|
|
|
TOTAL (A) |
6665.800 |
5719.000 |
4694.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials |
4573.600 |
4202.300 |
3418.100 |
|
|
|
Power & Fuel Cost |
12.600 |
9.200 |
14.700 |
|
|
|
Employee Cost |
276.300 |
220.500 |
125.100 |
|
|
|
Other Manufacturing Expenses |
79.100 |
73.400 |
56.700 |
|
|
|
Selling and Administration
Expenses |
311.100 |
280.800 |
217.900 |
|
|
|
Miscellaneous Expenses |
581.200 |
428.100 |
29.800 |
|
|
|
Increase/(Decrease) in Finished Goods |
49.000 |
(182.800) |
(15.500) |
|
|
|
TOTAL (B) |
5882.900 |
5031.500 |
3846.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
782.900 |
687.500 |
847.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
418.600 |
412.800 |
226.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
364.300 |
274.700 |
620.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
53.900 |
53.000 |
56.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
310.400 |
221.700 |
564.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
46.500 |
89.600 |
86.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
263.900 |
132.100 |
477.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
966.600 |
867.700 |
455.700 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1108.500 |
966.600 |
867.700 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
17.36 |
8.36 |
33.23 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
1598.770 |
1629.020 |
1512.660 |
|
Total Expenditure |
1327.920 |
1354.280 |
1268.730 |
|
PBIDT (Excl
OI) |
270.850 |
274.740 |
243.930 |
|
Other Income |
0.010 |
0.000 |
0.000 |
|
Operating
Profit |
270.860 |
274.740 |
243.930 |
|
Interest |
95.880 |
84.310 |
63.200 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
174.990 |
190.420 |
180.730 |
|
Depreciation |
13.210 |
15.660 |
14.110 |
|
Profit
Before Tax |
161.770 |
174.760 |
166.630 |
|
Tax |
32.300 |
22.220 |
22.540 |
|
Reported PAT |
129.470 |
152.540 |
144.080 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
129.470 |
152.540 |
144.080 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.96 |
2.31 |
10.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.75 |
3.98 |
12.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.49 |
3.14 |
11.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.08 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.42 |
1.63 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.36 |
4.70 |
5.76 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
Sundry creditor’s details are not available.
HISTORY
Subject, a Kailash group company is one of the biggest Engineering, Procurement
and Construction (EPC) Company. The company is having a profound brand image in
designing, manufacturing and execution of Static Energy Meters and Metering
Installations Projects for transmission and distribution network.
The company manufactures various ranges of high-end programmable
multi-functional intelligent Single Phase and Three Phase Electronic Meters
with in-built advanced security and anti-tamper features such as AMR (Automatic
Meter Reader) enabled Meters, Audit Meters, etc. They are also having the
facilities to provide Automatic Metering Solutions using PLCC, RF, GSM and GPRS
Technologies.
Subject was incorporated in the year 1992 as Genus Overseas Electronics
Limited. In the year 1994, the company started manufacturing Thick Film Hybrid
Microcircuits and SMT PCT Assemblies. In the year 1998, the company became the
larges manufacturer of Energy Meters. In the year 1999, multi-functional and
multi-tariff meters were launched. Over the year the company significantly
changed form only a meter manufacturer to a entrenched power infrastructure
player.
In the year 2002, Department of Scientific and Industrial Research, Govt. of
India, recognized Genus Design and Development and in the year 2004,
During the year 2005-06, the company set up a new manufacturing unit at
Haridwar in Uttrakhand with state-of-the-art manufacturing facility with an
investment of Rs 250 million for manufacturing of Inverter, Set Top Box, UPS,
Electronic Energy Meters, etc. Also, they increased their wind power generation
capacity from 0.35 MW to 1.60 MW at Jaisalmer.
In April 2006, the company secured an order of Rs.1176.500 millions from
West Bengal State Electricity Board for Agri Metering and in December 2006,
they secured an order of Rs.750 millions from Rajasthan State Electricity Board
for supply of Single Phase and Three Phase Electronic Energy Meters.
During the year 2006-07, the company entered into a joint venture with Mobix, a
Brazilian company, to manufacture Electronic Energy Meters and provide state of
art AMR technology. The name of the company was changed from Genus Overseas
Electronics Ltd to Genus Power Infrastructures Ltd with effect form March 31,
2007. In March 2007, the company secured an order of Rs.200 millions from
Chhattisgarh State Electricity Board and Torrent power AEC Limited for supply
of Electronic Energy Meters.
During the year 2007-08, the company set up a new manufacturing unit at
Keshwana in Rajasthan with state of the art manufacturing facility with an
investment outlay of Rs.500 million for manufacturing of poles, distribution
transformers, etc and the commercial production commenced from August 2007.
During the year, the company unveiled a Keypad based prepaid Electricity Meter,
with distinct advantages over the conventional key based or plug in type card
based Pre-Paid meters. They also unveiled a new age of PLC MODEM, with built in
isolated power supply that finds wide application in Data Transfer for Home
Automation, Intelligent Buildings, Automatic Meter Reading (AMR), Remote
Display, Fire and Security Alarm Systems, etc. The company developed a Smart
Street Lighting System, which is an IT enabled Automatic Online Monitoring
System with Data Analysis Software. Also, they became the first company in
In March 2008, the company bagged orders of Rs.1250 millions for supply of
Electronic Energy Meters and execution of Turnkey Power Distribution Projects.
In April 2008, the company acquired 40000 equity shares of Genus Urja Limited.
This company was incorporated in the year 2007 with the object of generation of
power etc.
The Board has approved the scheme of arrangement between the company and Genus
Paper Products Limited to merge 6MW Power Unit of Genus Paper Products Limited
with the company. In November 2008, the company in associate with Genus Prime
Infra Limited signed a MoU with Government of Rajasthan for the revival of
Jaipur Metals and Electricals Limited.
REVIEW OF
PERFORMANCE:
Despite the tough working conditions during the last six months due to fire/blast at IOCL's depot adjoining the Jaipur manufacturing unit, Genus has been able to achieve new milestones in both its top and bottom lines. Income from operations shot up by 16% to Rs.6632.297 millions during the year 2009-10 from Rs.5707.783 millions in preceding year 2008-09. The profit before interest, tax, depreciation and amortization (PBITDA) for the year 2009-10 registered a growth at 3% to Rs.963.715 millions from Rs.935.639 millions in 2008-09. The profit after tax (PAT) for the year 2009-10 surged by around 6% to Rs.514.586 millions from Rs.486.309 millions in previous year 2008-09. The earning per share (EPS) (before the extraordinary items) for the year ended March 31, 2010 amounted to Rs.34.48 against Rs.32.55 in previous year 2008-09.
During the year, the Company has written off book debts of about Rs.294.787 millions, which represent various deductions made by indenting agencies, pursuant to the terms of supplies.
During the year, due to continuous massive fire for two weeks at Indian Oil depot adjoining the Jaipur manufacturing unit, the Company suffered significant damage to its assets and inventories. The total loss of which came to Rs.250.725 millions disclosed under extraordinary items. Production at Jaipur unit consequently suffered for almost 6 months. The assets of the Company were insured except Loss of Profit ('LOP'). The Company has filed a claim of Rs.363.668 millions for the said losses with the insurance company and it is expected to be settled very soon. The Company is also going to lodge a claim for its Loss of Profit ('LOP') against Indian Oil Corporation Limited under their third party insurance coverage.
GROWTH DRIVERS /
EXPANSIONS:
In their continuous endeavour to keep up the growth momentum, the Company has set up a new manufacturing unit at Haridwar, Uttarakhand (a tax free zone) with state-of-the-art manufacturing facility for manufacturing of Electronic Energy Meters ('EEM'), Inverters, UPS, Modem, etc. The commercial production commenced from 22.03.2010. This apart, the Company has already increased its Meter and Inverter/UPS manufacturing capacity at its existing manufacturing facilities. This would take its total installed capacity to 6.500 lakhs meters and 0.600 lakhs Inverter/UPS units per annum. The expansion would not only increase its market share but would also improve its revenues and profitability in the years ahead.
Recently, Genus has been awarded with STS (Standard Transfer
Specification) certification. The Standard
Transfer Specification (STS)
has become recognized as
the only globally accepted
open standard for
prepayment systems,
ensuring inter-operability between
system components from different manufacturers of prepayment
systems. The STS has found widespread application, initially in
Moreover, the Company during the year, continued to widen and also add value to its product portfolio meeting expectations of its Stake-owners. Genus launched a range of new/improved products such as web enabled keypad based STS-20 compliant Poly Phase Prepaid Energy Meter, complete Advanced Metering Infrastructure (AMI) solutions for energy auditing, Group Meter Solution comprising smart meters, 19' Rack Mounted ABT Compliant Class 0.2S Meter for substation and grid metering with AMR and data analysis software for feeder management, DIN mounted meter for energy conservation, BOLT (Build, Operate, Lease and Transfer) solutions for Distribution Transformer Closed Loop Metering, Street Light Management Solution (SLMS), complete range of Solar Hybrid Inverters, Digital Inverters, complete range of Lift Inverters, Special Application Pump Inverter, enhanced High Voltage Distribution System (HVDS) / Low Voltage Distribution System (LVDS), SCADA System, etc.
To drive and uphold industry leadership within a international framework, Genus is set to launch an array of new/improved products/services such as Poly Phase Meters of all categories to meet the requirements under R-APDRP projects, Data Concentrator Unit for automatic communication that would enable timely and error-free billing and also provide real time profile for energy conservation, Enhanced metering solutions for Substation and Grid Metering, In Home Display with communication capability to facilitate the consumer to know his/her consumption profile, new and improved Single and Three Phase Meters with several value added features, complete range of Transformers with several value added features, complete range of Solar Inverters with more value added features, Solar Water Heater, Boat Inverters, triple or double conversion on-line UPS, with several value added features, complete range of Batteries to support its Inverters with best backup power available, value engineering, aesthetic improvement and feature enhancement of all existing products.
EXPORTS:
During the year, export of the Company was at Rs. 60.514 millions
As per worldwide market survey reports, there are around 1.7 Billion electricity meters installed in the world. It is estimated 75% of the installed base still consists of Electromechanical meters, while only 25% of them are static (electronic) type. The growth of the Electricity Metering industry has traditionally been driven by new construction and replacement of old meters. More and more countries are planning and enforcing regulations to ensure replacement of all existing Electromechanical meters and new installation meters are Electronic in nature for reasons such as tamper prevention, data reading, inclusion of communication features etc. As a result there lies a huge requirement of Electronic electricity meters worldwide. As per an estimate, the demand of electronic electricity meters will be for 125 Million or more every year. Their company is formulating an Export Strategy to tap this vast opportunity thereby increasing its overseas customer base.
Today, the world is moving towards advanced metering such as
AMR (Automated Meter
Their company through its overseas alliance is continuing
its focus in
Their company has successfully developed STS compliant Keypad based prepaid meters, which are in great demand in African countries. These meters have already been exported to an African country. Majority of African countries are using Prepaid Meters and through this newly developed Keypad Prepaid Meters, the Company is confident of tapping the market in African countries aggressively in near future.
Genus with a vision
to truly go global in Power Backup Solutions
ventured deeper into developing nations last year by spreading
its wings through Africa, Middle
East, SAARC countries and even
USA. The
power back up solutions
comprising Inverters, UPS, and
Solar Products have been
well accepted by most emerging nations as a cost effective
solution to their power
crisis. With global warming
triggering a growing demand for solar products, the
company is also tapping US,
MANAGEMENT'S
DISCUSSION AND ANALYSIS
ECONOMIC REVIEW:
Last decade was one of the badly hit periods for western
economy. However,
economy, the Indian government announced the stimulus packages that worked a lot to prop up economic growth of the country.
It has been realized
that in order to give a fillip to overall
industrial growth, there is a need to develop infrastructure to
complement and sustain the economic growth momentum in
POWER SECTOR: REVIEW AND OUTLOOK:
Electricity is the vital requirement for all infrastructure and other sectors, so it is necessary for it to grow up. In the present globalized competitive environment, electricity is very essential to achieve economic, social and environmental objectives of sustainable economic as well as social development. Increased power consumption is one of the indicators of increasing living standard and development of the mankind.
At present,
In the year 2009-10, Indian power sector performed
exceptionally well with an aggregate
capacity addition of 9585 MW or 66 per cent of
its target level of
14507 MW. According to
POWER INFRASTRUCTURE
SECTOR: REVIEW AND OUTLOOK:
It has been well-accepted that appropriate and efficient power infrastructure is prerequisite for steady growth of the power sector. The electricity infrastructure mainly consists of three sections- generation, transmission and distribution. Each section has to be perfect and efficient to make whole electricity system perfect and viable.
Despite various reform measures undertaken in Power Transmission and Distribution ('T and D') sector, the important parts in the electricity supply system are some what weak in the country. Over the years, T and D sectors' functional and commercial viability have been impacted negatively on account of high Aggregate Technical and Commercial ('AT and C') losses, inadequate metering, poor recovery of dues and decrepit T & D networks. As per the report of the Thirteenth Finance Commission, the net loss of State Transmission and Distribution (T and D) utilities is a staggering Rs.273.17 billion (BE 2008-09) , an increase of 48.66% over the 2005-06 figure of Rs.183.17 billion. The report has projected the State T and D utilities' aggregate losses at 2008 tariff levels, to be highly shocking at Rs.1 16.09 billion, which, if saved, can facilitate capacity addition of 29022 MW at Rs.40 million per MW. As of now, pilferage, wastage and loss of electricity are the main constraint instead of generation and supply of electricity, which need to be resolved immediately to get a better performance from this sector.
Moreover in
also continues to
be a worrisome. Although the
sector has witnessed moderate growth as a result of the government's Restructured
Accelerated Power Development and Reform Programme and higher budgetary
allocation, still there is need to do a lot to meet the consistently
rising requirement of the power sector in
The government's ambitious mission of 'Power for all by 2012' and target of power capacity addition to about 79,000 MW during the 11th five-year Plan (2007-12) and approximate 1,38,000 MW during the 12th Plan are almost impractical without having proactive action plan for T and D infrastructure and continual focus on that.
The necessity of power sector's reform has been recognized by the governments and private sector. The efforts are being reflected in the recent budgets, power reform policies, regulations programmes and
announcements of the Union government and also in the recent
IIP numbers of
POWER SECTOR REFORMS:
REVIEW and OUTLOOK:
Electricity is the key to accelerating economic growth, generation of employment, elimination of poverty and overall development of society. Indian power sector has been greatly affected by wide gap between demand
and supply of electricity, huge Transmission and Distribution losses, Aggregate Technical and Commercial losses and poor financial health of State Electricity Boards. Moreover, power sector was primarily dominated by State
Electricity Boards/Discoms and other public sector players, with the results there was little competition and deregulation. Therefore, the Government/ministry of power has taken several steps and initiated several reforms, some of which are described below.
Electricity Act 2003 has been enacted and came into force with effect from 15.06.2003. It is a multi-faceted legislation with multiple features. The objective is to introduce competition, protect consumers' interests and provide power for all. The Act provides for National Electricity Policy, rural electrification, open access in transmission, phased open access in distribution, mandatory SERCs, license free generation and distribution,
power trading, mandatory metering and stringent measures to prevent theft of electricity.
The Indian Electricity Act, 2003, was amended by the government in 2007 to provide access to electricity to all areas including villages and hamlets through rural electricity infrastructure and electrification of households through the joint effort of the concerned state government and the central government.
Re-structured Accelerated Power Development and Reform Programme ('R-APDRP') was approved by the Cabinet Committee on Economic Affairs in its meeting held on 31.07.2008 as a Central Sector Scheme. The focus of the programme is on actual, demonstrable performance in terms of sustained AT and C loss reduction. The total five-year allocation of R-APDRP was fixed at about Rs 51,0000 millions. The programme aims to cut aggregate technical and commercial losses made by power utilities to 15%. It has been realized that the establishment of reliable and automated systems for sustained collection of accurate base line data, and the adoption of Information Technology in the areas of energy accounting will be essential before taking up the regular distribution strengthening projects. Renovation, modernization and strengthening of 11 kV level substations, transformers/transformer centers, re-conductoring of lines at 11 kV level and below, load bifurcation, feeder separation, load balancing, HVDS (11kV), aerial bunched conductoring in dense areas, replacement of electromagnetic energy meters with tamper proof electronic meters, installation of capacitor banks and mobile service centres etc. has been emphasized under this programme. Increasing the allocation for APDRP by 160% to Rs 2,0800.000 millions in budget 2009-10 will boost the capital goods sector, with direct benefit going to companies which manufacture transformers, electronic meters, cable and substations.
Rural Electrification Policy was notified by the Central Government in 2006. The Policy aims at provision of access to electricity to all households, quality and reliable power supply at reasonable rates and minimum lifeline consumption of 1 unit per household per day as a merit good by the year 2012.
Rajiv Gandhi Grameen Vidyutikaran Yojana ('RGGVY'):
In rural electrification policy notified under the Electricity Act, 2003, rural electrification is viewed as the key for acceleration of rural development. Provision of electricity is essential to cater for requirements of agriculture, village industries, health-care, education, and information technology. Therefore, the Ministry of Power has introduced an ambitious scheme RGGVY in April 2005. The scheme aims at electrifying all un-electrified villages and provides access to electricity to all rural households.
This programme has been brought under the ambit of Bharat Nirman. Under this scheme, project could be financed with 90% capital subsidy for rural electrification infrastructure through creation of Rural Electricity Distribution Backbone (REDB) with one 33/11 kV (or 66/11 kV) substation in every block where it does not exist, Village Electricity Infrastructure (VEI) for electrification of all un-electrified villages / habitations and provision of distribution transformer (s) of appropriate capacity in every village / habitation and decentralized Distributed Generation (DDG) and Supply System from conventional sources for Villages / Habitations where grid supply is not cost effective and where Ministry of Non-Conventional Energy Sources would not be providing electricity through their programmes.
Under the scheme about 67,000 villages have been electrified and electricity connections released to more than 8.200 millions BPL households. The continuation of RGGVY in XI Plan was sanctioned on 3rd January 2009 with an outlay of Rs.28,0000 millions. Additional 332 projects costing Rs.16,5060 millions have been sanctioned during XI Plan. Cumulatively 567 projects have been sanctioned under the scheme for Rs.26,2390.000 millions for electrification of 0.118 millions villages and to provide free connections to 24.600 millions BPL households. The target for the year 2010-11 is for electrification of 15,000 unelectrified villages and offering electricity connection to around 4.600 millions BPL households.
For effective and quality implementation of the projects, the Ministry has adopted turnkey mode of implementation, threetier quality monitoring mechanism and mile stone based project monitoring. States have been asked to provide minimum 6 to 8 hours of electricity to the villages. Establishment of franchisees has been made mandatory for effective distribution management.
The Budget 2009-10 gave a big boost to this programme by increasing allocation by 27% to Rs.7,0000 millions over the budget estimate in 2008-09.
INNOVATIONS,
TECHNOLOGY IMPROVEMENT AND OPERATIONAL REQUIREMENTS
In the present digital age, innovation in energy efficiency and advance technology deployment has become very essential, especially for loss reduction and energy conservation strategy. This may include bifurcation of feeders, replacement of deteriorated conductors, de-augmentation of transformers, load balancing of transformers, implementation of real time monitoring, effective load management of the distribution system, extensive use of prepaid meter, HVDS systems, energy accounting and auditing and extensive use of IT in all applications/systems. It is well recognized that without the help of innovations, improved technology and its extensive use, the power sector can not prop up growth of Indian economy at large. In the recent announcements, programme and policies for power sector, the government is found keen on absorbing the improved technology and use of IT, extensively.
In fact, the power distribution and generation utilities in India have started to use IT and advanced technologies as a key tool for improving revenue collection, minimizing AT and C losses, proper energy accounting and efficient consumer services. Still, there is lot to do for developing synergy between IT and the power sector where company like Genus providing innovative technologies can play a crucial role in improving power utilities' efficiency and productivity.
GENUS' KEY BUSINESS
AREA: REVIEW AND OUTLOOK:
METERING SOLUTIONS:
With a wide range of efficient, cost-effective and advanced metering solutions and equipped with avant-garde facilities, Genus is a preferred choice of Power utilities. Genus offers various types of high-end programmable multi-functional intelligent metering solutions such as Residential single phase and three phase Electronic Energy Meters, Industrial Meters, Sub-station Meters, Agricultural Meters, Audit Meters, Group Meters (Low Voltage / High Voltage Distribution System), Grid Meters, Prepaid Meters, Distribution Transformer Metering System, Feeder Monitoring and Management System, Comprehensive Billing Software Solution using AMR techniques, Electricity Management Server, Smart Street Lighting System, etc. Genus products and innovative techniques facilitate the Power utilities to become commercially and technically viable through minimizing their transmission and distribution losses and improving collection efficiency.
RUNNING PROJECTS:
Currently, the Company is engaged in designing,
manufacturing and supplying all materials/equipments for the erection, testing
and commissioning of 32 new 33/11 KV substations in
Rural
electrification turnkey projects
are being undertaken under Rajiv Gandhi
Grameen Vidyutikaran Yojana
(RGGVY) for NHPC Limited
in West Champaran (Bihar), Rayagada (Orissa), Kanker
(Chhattisgarh) and Rajnandgaon
(Chhattisgarh); for AVVNL in Udaipur and Chittorgarh (Rajasthan); for West
The Company is also handling augmentation work of 11 KV lines by upgrading/installing conductors and poles in Patiala (Punjab), Gurdaspur (Punjab) and Indore (Madhya Pradesh) besides executing High Voltage Distribution System (HVDS) work in Bhopal, Gwalior, Morena and Amba (Madhya Pradesh) (Funded by ADB).
Genus is also
executing turnkey project
for providing three
phase electricity connections to agriculture consumers in
Genus is also doing turnkey project to convert existing
three phase supply lines to
single phase supply
line as and
when required, in
Latur (
Genus is also engaged in a project awarded by Jharkhand State Electricity Board QSEB) for erection, testing and commissioning of 132 KV Substation and Transmission Line in Simdega Oharkhand).
POWER BACKUP /
CONVERSION SOLUTIONS
(INVERTERS, UPS and
BATTERIES):
Genus is now a renowned name in design and development of
high-quality power saving and
power backup solutions in
POWER BACKUP /
Sure Sine Wave'' Inverter (600VA to 1400VA)
The technology used in Genus Sure Sine Wave' Inverters and Home UPS is DSP based technology that uses Auto Sense Intelligent Control (ASIC). ASIC technology gives maximum power and backup time. DSP monitors the output level and battery voltage and adjusts the amplitude and wave shape of the sure sine wave according to that. The DSP also corrects the Power Factor during battery charging.
Compact Inverter (600VA to 1400VA)
Compact size and an advanced technology make this Inverter very special. With improved technology in design, this inverter is able to charge the battery even if the mains AC voltage is as low as 100V only.
Higher KVA Inverters:
Genus 2.5 KVA inverter with Sure Sine Wave Technology is the only Inverter in its category with a plastic front panel. It ensures 100% safety of high load capacity and normal home appliances. 5KVA and 10KVA Inverters with Sure Sine Wave Technology and ASIC technology is an alternate to GENSET for running high load capacity appliances and systems such as Air-conditioning units, Deep Freezers, Petrol Pumps, Photo Copiers, etc.
High Frequency
Inverter:
High frequency Series, with reliable, regulated and stabilized Sure Sine Wave Output, is a new milestone towards complete power generation system that is suitable for running household appliances. Its high frequency operation results in lesser hardware and reduced weight, which gives it a sleek look.
Automatic Lift Backup
System:
It is mainly designed for special purpose and available on a very low capital investment per KVA. Its features includes automatic controlled, noiseless operation, environment friendly, Built-in protection like Overload, Short-Circuit, Over Voltage, Regulated Voltage and Frequency, Built-in emergency landing facility, no extra accessories penal, acoustic cover etc. It requires very less space and its' battery utilizes power only when the load is applied.
DSP Sine wave solar
hybrid inverter:
It is designed with absolute and stable Sine Wave Output Voltage and Frequency and state-of-the-art MOSFET based PWM technology. It saves Power when mains and Solar both are present.
On-line UPS:
The primary purpose of the Genus's on-line UPS system is to protect critical and sensitive equipment from the electrical disturbances that may jeopardize their operation. Mains-line failures, mini blackouts, high and low voltage fluctuations, lightning, electrostatic discharge and rapid over-voltages are phenomena found in all environments, causing damage to hardware and loss of data. When the mains supply is present, the inverter
section derives its power from the mains, rectifies it and the back-up batteries are kept in a constantly charged state. When the mains supply fails, the sources of DC power for the inverter section shifts to the battery without any break whatsoever in the output. It is useful for Network servers, Bridges, Hubs, Routers, Storage devices, Medical equipments, Industrial products, Telecommunication systems, ATM machines, Colour labs, Local Area Network (LAN), Embroidery machines, Satellite systems, Moulding machine, etc.
Sure Sine Wave'' Home
UPS:
Home UPS system with an in-built UPS runs home appliances and computers uninterrupted during power cuts. It is ideal for computers. It protects the appliances and computers from short circuit and reverse phase and ensure the same power quality as you get from the mains. It also ensures longer battery life and has wide charging range (I/P mains 90V to 290V).
SEGMENT WISE /
PRODUCT WISE PERFORMANCE REVIEW:
Metering:
The Company sustained its superior performance in Electronic Energy Metering (EEM) business. During the year, the revenue from this business grew to Rs.2767.001 millions from Rs.2506.441 millions in the preceding financial year 2008-2009. EEM production during 2009-10, at 2783019 (nos.) was its highest ever, surged from 2069355 (nos.) in 2008-09. The Company has been successful in making highest ever sale at 2673174 (nos.) meters as against 1987637 (nos.) in 2008-09. The world-class manufacturing facilities coupled with proactive execution techniques helped the Company to achieve higher sales.
Engineering,
Constructions and Contracts (Power Projects) ('ECCI):
During the year, the Company posted revenue of Rs.3166.435 millions compared to Rs.2651.450 millions in FY 2008-2009, registering a 19% growth, from its Engineering, Constructions and Contracts (Power Projects) business. With profound brand image in designing, manufacturing and execution of power equipments and turnkey projects for power transmission and distribution network, Genus has been one of the biggest beneficiaries of the most ambitious ongoing power reform programme of the Government.
Power
Backup/Conversion Solutions (Inverters, UPS and Batteries):
Power backup/conversion solutions/system business during the year showed tremendous performance, income from Inverters and UPS business jumped by 28% to Rs.558.378 millions from Rs.435.906 millions in 2008-09. The Company produced 145925 (nos.) Inverters and UPS as against 103619 (nos.) in the previous financial year 2008-09 and sold 137263 (nos.) as against 95819 (nos.) in 2008-09. The in-house R and D labs coupled with the state-of-art manufacturing facility allowed the Company to take benefit of huge supply gap of electricity in the country.
Distribution
Transformers:
During the year, the Company manufactured 5797 distribution transformers against 2259 (nos.) in the preceding financial year and sold 2346 (nos.) distribution transformers against 987 (nos.) in 2008-09.
OPPORTUNITIES:
Even though the electricity is one of the basic rights of a citizen like water, food and air and is also essential for overall development of the country, Indian cities are bearing severe power shortage. Power shortage and frequent power cut become more menace during summer. A recent report on 17th Electric Power Survey of India has projected the electrical energy demand for 2021-22 as 1915 Tera Watt Hours and peak electric demand as 298 Giga Watts. So, the development of sustainable alternative conventional and non-conventional, both sources of energy are indispensable.
Sun being basic source of all renewal energy has huge potential to cater to the demand of electricity of their growing population and economy. The government has initiated a massive project to popularize solar energy systems. It is estimated these projects will generate 200,000 megawatts by 2050. The government has taken steps to install small scale photovoltaic panels, commercial scale solar plants and solar lightning systems to give impetus to the domestic manufacturers.
The current electricity situation in India coupled with rapidly growing economy and high density of population opens vast opportunities for manufacturer, who design and develop avant-garde and cost-efficient power saving and power backup solutions.
DISTRIBUTION
TRANSFORMERS:
The ongoing rapid growth in economic, higher electricity
consumption across the industrial and residential end-user segments and the
Government's focus on renovating and developing power infrastructure are
resulting in a rapid boost in demand for power and distribution
transformers in
Genus with its
technical expertise and aggressive marketing strategies is ready
to take advantage of the huge market potential
and offer cost-effective products. We are not only
ready to cater to the growing domestic
demand but also
exploring export markets
in developing/neighboring
economies like
WEB DETAILS
CORPORATE PROFILE
Subject, an ISO 9001: 2000 Public Limited Company
forms an integral part of the reputed 300million USD Kailash Group. The company
primarily deals in manufacturing and distribution of Electronic Energy Meters,
Power Distribution Management Projects, Hybrid microcircuits, Inverters,
Batteries, Home UPS and Online UPS across India as well as globally.
Equipped with avant-garde facilities and a team of highly qualified and
experienced scientists, it is committed to develop complex technologies at an
affordable price. It’s top-notch R and D laboratory, approved by the Ministry
of Science and technology, Govt. of India, has enabled the company to dominate
the power infrastructure and electronics segment’s engineering domain.
As a step forward Genus has launched IT enabled Distribution Transformer
Metering System, Feeder Monitoring and Management System, Smart Street Light
Management System with value added software application for providing end to
end solutions for energy management. The high-end software developed by us has
transformed the way metering is done, not only in
MANAGEMENT
Subject always believes that a good team and an effective
management is the key for competing in today's global arena. So the old
structures in the company are continuously reformed from time to time to make
the organization more flexible in the face of rapid environmental change as
well as more responsive to the needs of customers. Training and cross-training
programs help the people to direct their individual accomplishments towards an
organizational objective. As rightly it has been said, "TEAM = Together Everyone Achieves More".
Subject is proud to introduce its core members:
MILESTONES
Milestones are checkpoints for the company to evaluate,
analyze and tune up the further steps. Let them have a look at the major
milestones of company, which are like footprints-invaluable for the past and guidelines for the
future:
1994 Company founded for manufacturing Thick Film Hybrid Microcircuits and SMT PCB Assemblies
1996 Pioneered
unique tamper proof Single and Three Phase Electronic Energy Meters in
1996 Commercial Production started
1997 ISO 9001 : 1994 and IECQ Certifications
1998 Became largest manufacturer of Energy Meters
1999 Multi-functional and Multi-tariff Meters launched
2000
Rated as 7th turnaround company of
2002 Subject Design and Development recognised by Department of Scientific and Industrial Research, Government of India
2004
2004 Rated
among top 100 Electronic companies in
2004 Lean
Manufacturing implemented with TBM consultants,
2005 AMR/Pre-payment Meter launched
2005 Ventured into Power Distribution Management Projects
2006
Establishment of two joint venture companies in
2006 State of the art manufacturing facility at Haridwar commissioned
2007 ERP software package SAP implemented successfully
2007 First
company in
Awards and Recognitions
Subject
stands committed to exceeding the highest standards of quality stipulated by
the leading authorities, both in
Subject has ISO 9001 certificate for design and production of hybrid microcircuits, energy meters, turnkey power projects, inverters and SCADA. 24 varieties of different types of meters have ISI approvals. Further, the meters are type tested as per European IEC standard.
Certifications
The following is a brief list of certifications received by Subject:
- ISO 9001:2000 certification for manufacturing
- ISO 9001:2000 certification for implementation of Power Projects and SCADA Automation
- ISO 9001:2000 certification for commissioning and installation of Power Distribution networks
- R and D Lab recognized by the Ministry of Science and Technology, Government of India
- CDOT approval for Line Card Hybrid and Resistor Networks
- CDOT approval for contract manufacturing
- IECQ for quality of components
- ISI mark for Energy Meters
- CE approval for Energy Meters (Single Phase and Three Phase)
- EMI / EMC certifications
- ETDC certification for Inverters
- DLMS Certification for meters.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.