1. Summary Information
|
|
|
Country |
|
|
Company Name |
GAMESA WIND
TURBINES PRIVATE LIMITED |
Principal Name 1 |
Mr. Gaizka N Chacon |
|
Status |
Moderate |
Principal Name 2 |
Mr. Ricardo C Melgosa |
|
|
|
Registration # |
55-148668 |
|
Street Address |
50 E, 1st
Floor, |
||
|
Established Date |
06.05.2006 |
SIC Code |
-- |
|
Telephone# |
91-44-30989898 |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
Import |
|
Homepage |
-- |
Product Name 1 |
Wind turine generators including blades |
|
# of employees |
-- |
Product Name 2 |
Tower and their components |
|
Paid up capital |
Rs.
100,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings100% |
Banking |
-- |
|
Public Limited Corp. |
NO |
Business Period |
4 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B(26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
Gamesa
Eolica S.L. |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
117,752,000 |
Current Liabilities |
1,997,000 |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
201,000 |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
1,997,000 |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
115,956,000 |
|
Total Assets |
117,953,000 |
Total Liab. & Equity |
117,953,000 |
|
Total Assets (Previous Year) |
387,000 |
|
|
|
P/L Statement as of |
31.12.2008 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
GAMESA WIND TURBINES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
50 E, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2008 |
|
|
|
|
Date of Incorporation : |
06.05.2006 |
|
|
|
|
Com. Reg. No.: |
55-148668 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74991DL2006PTC148668 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELG09704C |
|
|
|
|
Legal Form : |
Private limited liability company |
|
|
|
|
Line of Business : |
The company engages in the manufacturer, assembly, import, marketing,
sale, distribution, supply, erection, commission and maintenance of wind
turine generators including blades, tower and their components. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 463800 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company having moderate track. Latest financials of the
company is not available with the government Departments. However, trade
relations are reported to be slow. The company can be considered for business dealings with some caution.
|
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 |
LOCATIONS
|
Registered Office : |
50 E, 1st Floor, |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
No. 489, GNT Road, Thandal Kazhani Village, Vadagarai Post, Redhills,
Chennai – 600052, Tamilnadu, India |
|
Tel. No.: |
91-44-30989898 |
|
E-Mail : |
DIRECTORS
As on : 30.06.2010
|
Name : |
Mr. Gaizka N Chacon |
|
Designation : |
Director |
|
Address : |
Lorbeltzeta 32, 1 DR, Zizur Mayor Navarra- 48170 |
|
Date of Birth/Age : |
22.10.1967 |
|
Date of Appointment : |
30.06.2009 |
|
|
|
|
Name : |
Mr. Ricardo C Melgosa |
|
Designation : |
Director |
|
Address : |
Catalina Erauso 11 8 B, Donostia |
|
Date of Birth/Age : |
01.05.1971 |
|
Date of Appointment : |
30.06.2009 |
|
|
|
|
Name : |
Mr. Luis A F Romero |
|
Designation : |
Director |
|
Address : |
C Sanduzelai 19 3 B, |
|
Date of Birth/Age : |
03.08.1973 |
|
Date of Appointment : |
30.06.2009 |
|
|
|
|
Name : |
Mr. Carlos Javier Uruefia Merino |
|
Designation : |
Director |
|
Address : |
Capitan Mendizabal 35.4 A, Vizcaya Santurce |
|
Date of Birth/Age : |
16.12.1959 |
|
Date of Appointment : |
19.04.2007 |
|
|
|
|
Name : |
Mr. Ifiigo Cisneros Humaran |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
09.07.1968 |
|
Date of Appointment : |
19.04.2007 |
|
|
|
|
Name : |
Mr. Gaurav Garg |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
03.10.1974 |
|
Date of Appointment : |
05.05.2006 |
|
|
|
|
Name : |
Mr. Narayan Das |
|
Designation : |
Director |
|
Address : |
S-201160 CC, Near D Block, East, Kidrai Nagar, New Delhi-110023 |
|
Date of Birth/Age : |
06.04.1983 |
|
Date of Appointment : |
05.05.2006 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Gamesa Eolica S.L. Unipersonal, |
|
23759532 |
|
Gamesa Corporation Tecnologica S.A., |
|
240467 |
|
|
|
|
|
Total |
|
23999999 |
AS ON 30.06.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engages in the manufacturer, assembly, import, marketing,
sale, distribution, supply, erection, commission and maintenance of wind
turine generators including blades, tower and their components. |
|
|
|
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajat Mathur Chartered Accountant |
|
Address : |
B-11, Nizamuddin East, |
|
|
|
|
Holding Company
: |
Gamesa Eolica S.L., |
|
|
|
|
Group Company : |
Gamesa Corporation Tecnologica S.A, |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
|
|
|
|
|
Note : Of the above equity Shares 9900 equity Shares
are held by the parents Company, Gamesa Eolica S.L., Span.
As On : 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
124000000 |
Equity Shares |
Rs.10/- each |
Rs.240.000 Millions |
|
|
|
|
|
Issued :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23999999 |
Equity Shares |
Rs.10/- each |
Rs.239.999
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2008 (9 Months) |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
122.513 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(6.657) |
0.000 |
0.000 |
|
|
NETWORTH |
115.956 |
0.100 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
115.956 |
0.100 |
0.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.201 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
116.648 |
0.387 |
0.100 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1.104 |
0.000 |
0.000 |
|
Total
Current Assets |
117.752 |
0.387 |
0.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
1.948 |
0.287 |
0.000 |
|
|
Provisions |
0.049 |
0.000 |
0.000 |
|
Total
Current Liabilities |
1.997 |
0.287 |
0.000 |
|
|
Net Current Assets |
115.755 |
0.100 |
0.100 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
115.956 |
0.100 |
0.100 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2008 (9 Months) |
31.03.2008 |
31.03.2007 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.01
|
2.87 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
58.96
|
1.34 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
Background :
Subject ("the Company") is an Indian company incorporated on May
6,2006 and is registered with the Registrar of Companies,
The Company has changed its accounting year from April 1 to March 3 1 to
the calendar year i.e. from January 1 to December 31. As a consequence, in
these financial statements, current period figures are from April 1, 2008 to
December 31, 2008. Previous period figures are from April 1, 2007 to
March 31, 2008. Current period and previous period figures are not comparable.
Figures represented by bold type face are for the current period and those
within () are for the previous period, unless otherwise stated. Previous period
figures have been regrouped1 reclassified wherever necessary. The reporting and
functional currency of the Company is Indian Rupees or Rs.
Financial Data :
During the period ending March 31, 2008, the company has incurred a loss
/ gain after tax of Rs. (0.001) millions
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. 45.11 |
|
|
1 |
Rs. 73.25 |
|
Euro |
1 |
Rs. 61.70 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.