MIRA
INFORM REPORT
|
Report Date : |
06.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
REGEN POWERTECH PRIVATE LIMITED |
|
|
|
|
Registered Office : |
28, College Road, Chennai – 600006, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
27.12.2006 |
|
|
|
|
Com. Reg. No.: |
01-52129 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U40109AP2006PTC052129 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHER08858D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCR5531M |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer of Wind Turbine Generator. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be under severe pressure. There appears to be huge
accumulated losses recorded by the company. Trade relations are reported as
fair. Business is active. Payments 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.
INFORMATION PARTED BY
|
Name : |
MR. Murthy |
|
Designation : |
Accounts Department |
|
Date : |
05.01.2011 |
LOCATIONS
|
Registered Office : |
28, College Road, Chennai – 600006, Tamilnadu, India |
|
|
|
|
Factory : |
NSL Icon, Door No.8-2-648, Plot No.1 to 4, Road No. 12, Banjara hills,
|
|
Tel. No.: |
91-40-30514444 |
|
Fax No.: |
91-40-23327919 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
No. 28/11, |
|
Tel. No.: |
91-44-30280200-206 / 42966200 – 230 |
|
Fax No.: |
91-44-30280199 |
|
E-Mail : |
|
|
Location |
Rented |
|
|
|
|
Marketing : |
|
|
Project : |
|
|
HR : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. M Prabhakar Rao |
|
Designation : |
Director |
|
Address : |
Plot No. 543, House No. 8-2-293/82/ |
|
Date of Birth/Age : |
19.01.1959 |
|
Date of Appointment : |
27.12.2006 |
|
Other Directorship : |
·
Nuziveedu Seeds Limited CIN No.: U01112DL2002PLC114839 ·
SCM Sugars Limited CIN No.: U15429KA1999PLC026121 ·
Perpetual Energy Systems Limited CIN No.: U99999AP1995PLC020845 ·
Evergreen Energies Limited CIN No.: U40109AP2001PLC038145 ·
Indur Green Power Private Limited CIN No.: U40109AP2001PTC037830 ·
Mandava Cold Storage Private Limited CIN No.: U63002AP1999PTC032118 ·
Jayavenkatrama Industries Limited CIN No.: U15429AP2002PLC038489 ·
Prabhat Sgri Biotech Limited CIN No.: U01112AP1992PLC014346 ·
Aamoda Publications Private Limited CIN No.: U22219AP2002PTC039437 ·
DPM Textiles Limited CIN No.: U18101AP2004PLC044154 ·
Divyasree NSL Infrastructure Private Limited CIN No.: U70102AP2004PTC044588 ·
NSL Power and Infratech Limited CIN No.: U45200AP2005PLC045511 ·
Arena Infrastructure Private Limited CIN No.: U45200AP2005PTC048067 |
|
|
|
|
Name : |
Mr. K Rama Koteswara Rao |
|
Designation : |
Nominee Director |
|
Address : |
3-6-449, Flat No. 103, Street No. 5, Legend Sri Ram Apartment, Himayat
Nagar, Hyderabad, Andhra Pradesh, |
|
Date of Birth/Age : |
12.11.1956 |
|
Date of Appointment : |
24.10.2007 |
|
|
|
|
Name : |
Mr. Madhusudan Khemka |
|
Designation : |
Managing Director |
|
Address : |
Y-202, Anna Nagar, Chennai – 600 040, |
|
Date of Birth/Age : |
06.09.1963 |
|
Qualification : |
B.Com |
|
Experience : |
20 Years |
|
Date of Appointment : |
17.10.2007 |
|
|
|
|
Name : |
Mr. R Sundaresh |
|
Designation : |
Joint Managing Director |
|
Address : |
Flat 1/C, 6/23, |
|
Date of Birth/Age : |
02.06.1960 |
|
Qualification : |
ACS |
|
Experience : |
20 Years |
|
Date of Appointment : |
17.10.2007 |
|
|
|
|
Name : |
Mr. Atul Kapur |
|
Designation : |
Nominee Director |
|
Address : |
12, |
|
Date of Birth/Age : |
22.06.1963 |
|
Date of Appointment : |
18.10.2007 |
|
|
|
|
Name : |
Mr. Kazi Arif Uz Zaman |
|
Designation : |
Nominee Director |
|
Address : |
D 101, Diago, Next to Rizvi College, Shirley Ragan Road, Bandra
(West), Mumbai – 400 050, Maharashtra, India
|
|
Date of Birth/Age : |
11.07.1971 |
|
Date of Appointment : |
18.10.2007 |
|
|
|
|
Name : |
Mr. Narasimharamulu Pantam |
|
Designation : |
Nominee Director |
|
Address : |
Plot No. 402, 4th Floor, Garden Residency, Ii lane, Sai Enclave Colony,
Habsiguada, |
|
Date of Birth/Age : |
25.07.1945 |
|
Date of Appointment : |
19.06.2009 |
|
|
|
|
Name : |
Mr. Kuldip Kumar Kaura |
|
Designation : |
Nominee Director |
|
Address : |
3, |
|
Date of Birth/Age : |
04.04.1947 |
|
Date of Appointment : |
15.12.2009 |
|
|
|
|
Name : |
Mr. K. Varaha Rao |
|
Designation : |
Nominee Director |
|
Address : |
233, Madhav Nagar, HIG Phase I, Medak District, R. C. Puram-502 032 |
|
Date of Birth/Age : |
05.04.1947 |
|
Date of Appointment : |
15.12.2009 |
KEY EXECUTIVES
|
Name : |
Mr. S Ravichandran |
|
Designation : |
Company Secretary |
|
Address : |
D-38, New No, 13, |
|
Date of Birth/Age : |
11.10.1965 |
|
Date of Appointment : |
02.07.2008 |
|
|
|
|
Name : |
MR. Murthy |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
NSL Power Equipment Trading Private Limited, |
14000000 |
|
Indivision |
7000000 |
|
Total |
21000000 |
Equity share
breakup (percentage of total equity) (As on 30.9.2010)
|
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 |
33.00 |
|
Bodies corporate |
67.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wind Turbine Generator. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Wind Turbine Generator |
||||
|
Countries : |
Srilanka |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Wind Electric Generator |
Nos. |
52 |
GENERAL INFORMATION
|
Customers : |
Corporate |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
1200 (Office-300, Factory-900) Approximately |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
State Bank of Industrial Finance Branch, 155, Anna
Salai, Chennai – 600 002, ·
Canara Bank, Prime Corporate Branch, Spencer
Towers-I, Ground Floor, 770, Anna
Salai, Chennai-600 002, Tamilnadu, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Note 1.
Term loan from bank are secured by a first charge
on all the immovable / movable properties of the Company, on pari passu basis
with all the lenders and second charge on current assets, both present and
future on pari passu basis. 2.
Cash Credit from banks are secured by a first
charge on Inventories and book debts, both present and future and further
secured by a second charge on fixed assets of the Company on pari passu basis
and except for the exclusive charge. 3.
Term loans and cash credit facilities extended by
State Bank of 4.
Finance lease from bank is secured by way of an
exclusive hypothecation charge on vehicles. |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountant |
|
Address : |
TPL House, Second Floor, 3, |
|
Tel. No.: |
91-44-24311440 |
|
Fax No.: |
91-44-24311450 |
|
|
|
|
Holding Company
and Ultimate: |
Regen Power Tech
Private Limited (RPPL) |
|
|
|
|
Holding Company
(Promoters) : |
Nuziveedu Seeds
Private Limited (NSL) (formerly Nuziveedu Seeds Limited) |
|
|
|
|
Holding Company
: |
NSL Power Equipment Trading Private Limited CIN No.: U51909TN2007PTC064763 |
|
|
|
|
Subsidiaries : |
·
Regen Renewable Energy Generation Global ·
Renewable Energy Generation Private Limited CIN No.: U40106TN2008PTC065937 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- Each |
Rs.250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21000000 |
Equity Shares |
Rs.10/- Each |
Rs.210.000
millions |
Of the above 14000000 shares are held by the
NSL Power Equipment Trading Private Limited, the Holding Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
210.000 |
210.000 |
210.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
690.000 |
690.000 |
690.000 |
|
|
4] (Accumulated Losses) |
(314.912) |
(424.821) |
(197.985) |
|
|
NETWORTH |
585.088 |
475.179 |
702.015 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
804.334 |
757.713 |
190.916 |
|
|
2] Unsecured Loans |
500.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1304.334 |
757.713 |
190.916 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1889.422 |
1232.892 |
892.931 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
463.201 |
415.935 |
65.286 |
|
|
Capital work-in-progress |
23.482 |
13.748 |
95.229 |
|
|
|
|
|
|
|
|
INVESTMENT |
241.749 |
0.602 |
0.601 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
623.106
|
671.523 |
408.002 |
|
|
Sundry Debtors |
842.339
|
276.784 |
0.000 |
|
|
Cash & Bank Balances |
736.531
|
87.127 |
49.370 |
|
|
Other Current Assets |
74.339
|
27.941 |
12.435 |
|
|
Loans & Advances |
538.797
|
454.667 |
365.332 |
|
Total
Current Assets |
2815.112
|
1518.042 |
835.139 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1163.690
|
444.767 |
75.451 |
|
|
Other Current Liabilities |
396.034
|
695.191 |
22.860 |
|
|
Provisions |
94.398
|
20.244 |
5.013 |
|
Total
Current Liabilities |
1654.122
|
715.435 |
103.324 |
|
|
Net Current Assets |
1160.990
|
802.607 |
731.815 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1889.422 |
1232.892 |
892.931 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
4598.578 |
1638.153 |
171.440 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4488.619 |
1863.365 |
368.784 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
109.959 |
(225.212) |
(197.344) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.047 |
(1.624) |
(0.641) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
109.912 |
(226.836) |
(197.985) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
801.123 |
235.331 |
303.688 |
|
|
|
Loose Tools |
2.925 |
1.396 |
0.600 |
|
|
TOTAL IMPORTS |
804.048 |
236.727 |
304.288 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.23 |
(10.80) |
(29.09) |
|
Expected Sales (2010-2011) : Rs.15000.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.39
|
(13.85) |
(115.48) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.46
|
(11.56) |
(21.92) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
(0.47) |
(0.28) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.06
|
3.10 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
2.12 |
8.08 |
LOCAL AGENCY FURTHER INFORMATION
Note:
Registered office of the company has been shifted from NSL Icon, Door No.8-2-648, Plot No.1 to 4, Road No. 12, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India to the present address w.e.f.23.12.2008
Registered office of the company has been shifted from Survey No. 182-188, APIIC Industrial Park, Mambattu Village, Tada Mandal, Tada – 524 121, Andhra Pradesh, India to the present
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Total outstanding dues of Micro and small enterprises |
10.556 |
3.136 |
0.000 |
|
Total outstanding dues of creditors other than Micro and small
enterprises |
1153.134 |
441.631 |
75.451 |
Financials:
The company has achieved a turnover of Rs.459.850 millions for the financial
year ending March 31, 2010 as compared to a turnover of Rs.1638.100 millions
for the financial year ending March 31, 2009.
The profit after tax for the financial year 2009-2010 is Rs.109.900
millions, compared to the loss after tax of Rs.225.200 millions for the
financial year 2008-2009% a creditable performance in the first full year of
operations.
OPERATIONS:
The company has spread its operations in four states with high potential
for wind power; viz., Tamilnadu, Karnataka, Gujarat and
The company has so far commissioned around 100 MW the clientele are a
mixture of IPP players and retail customers.
FUTURE OUTLOOK
The company has targeted to achieve 200 MW during the next financial
year; it is ‘also exploring the possibilities of targeting the neighbouring
countries for projects.
At present the potential sites for wind energy in
INDUSTRY OUTLOOK
With the conventional fossil fuels depleting faster than expected, there
is a certain need to look at alternative energy sources. Wind energy is the
fastest-growing source of renewable power generation globally and is clearly
the most promising and commercially viable solution available to supplement
conventional fossil fuels.
The global market for wind power capacity is expected almost to triple in
the next five years to 447GW and could expand to almost 11000 GW within 10
years.
Power Producers
where technological advantages are valued more than ever. The foray of new
players in the market space has paved the way for competitiveness in pricing
and technology trends.
18 out of the 29
Indian States have now implemented Renewable Energy Purchase Obligation of up
to 10% of the energy mix and have introduced preferential tariffs for
electricity produced from renewable sources. In addition some slates like
Background
Subject is a subsidiary
of Regen Powertech Private Limited. The Company is engaged in land acquisition
and execution of erection and commissioning of Wind Turbine Generators ('WTGs')
and related accessories and equipments.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U40109AP2006PTC052129 |
|
Name of the
company |
REGEN POWERTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Survey No. 182-188, APIIC Industrial Park, Mambattu Village, Tada
Mandal, Tada – 524 121, Andhra Pradesh, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10101562 |
|
Type of charge |
Immovable property Movable Property |
|
Particular of
charge holder |
Canara Bank, Prime Corporate Branch, Spencer Towers-I, Ground Floor, 770, Anna Salai, Chennai-600 002, Tamilnadu, India |
|
Nature of description
of the instrument creating or modifying the charge |
Memorandum of
deposit for creation of further charge
for term loan ( form c.10) |
|
Date of
instrument Creating the charge |
20.10.2010 |
|
Amount secured by
the charge |
Rs.2870.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: Base
Rate +3.75% Floating Terms of
Repayment No change Margin Cash Credit - 25% ILC/FLC (DA/DP)
-10% Bank Guarantee - 10% Extent and
Operation of the charge 1. on pari passu
I charge basis on the current assets of the company viz, stocks and debtors
for the working capital limits sanctioned by both banks. 2. On paripassu
II charge basis on the fixed assets of the company viz, land and building,
plant & machinery for the working capital limits sanctioned by both
banks. 3. On paripassu
II charge basis on the current assets of the company viz, stocks and debtors
for the term loan sanctioned by both banks. |
|
Particulars of
the present modification |
The Charge on
Land and Building Shall Cover the Enhanced Limits of Rs.2870.000 millions
Sanctioned by Canara Bank. |
Trade Reference:
·
Tata Powers
Fixed Assets
·
Land
·
Plant and Machinery
·
Office Equipment
·
Computers
·
Furniture and Fittings
·
Vehicles
Web Details
Promoters
Subject is promoted by Nuziveedu Seeds Private Limited
(NSL), which is the flagship company of NSL Group and the largest seed company
in
The story of NSL GROUP is more than the story of a seed company and a
conglomerate that grew around it. It is a statement of a man and his vision. It
is hard work and imagination of how the vision was transformed into an
institution while retaining focus on contribution to agriculture and rural
development of the country.
NSL Group came into existence in 1973 through setting up of a small seed
company Nuziveedu Seeds by the visionary Sri. M Venkata Ramaiah. Over last 30
years, aided principally by tireless efforts and vision of Sri. M. Prabhakar
Rao (son of Sri. M Venkata Ramaiah) who took over the reins from his father in
year 1985, the company developed strengths in research, and marketing supply
chain to become the largest seed company in
The real scope for economic development of the country in terms of impacting
larger number of people lies in agriculture and rural development. With this
philosophy, combined with success in seeds business, NSL Group under the
leadership of Mr. Prabhakar Rao, widened its activities and diversified into
other agro-based and allied industries by setting up units in Sugar, Textile
Industry and Cotton businesses in various parts of the country. Major expansion
with capital outlays of over INR 20000 Millions (approx USD 440 Million) are
underway in these units and NSL group is poised to be significant player in the
country in these businesses.
Already one of the best Wind power operations in India, NSL Group is planning
major expansion in the Renewable power generation business to capitalize on the
huge potential Indian Power sector. NSL Power Limited, a group company was
formed for faster implementation of Power projects based on renewable resources
like Hydro, Wind and Biomass as well as conventional Thermal energy. The
company currently has more than 100 MW of operating renewable power generation
capacity comprising of Wind & Biomass and is in the process of building up
of more than 400MW of power generation both Hydel and Wind in next 3-4 years. A
1320 MW coal based thermal power-plant is under implementation and expected to
be commissioned by 2012.
NSL group is also making giant strides in infrastructure
business and has five prestigious SEZ projects under development in
NSL Cotton Corporation Private Limited, recent initiative of NSL Group, has
been formed with a visionary approach of linking Indian cotton production with
global textile industry thereby benefiting close to million farmers and also
facilitating industry to source right quality cotton as per their needs.
Upon completion, the Group turnover is expected to grow to over INR 100000
Millions (approx USD 2 Billion) in next 5 years from the existing 11000
Millions (approx USD 225 Million).
As a responsible corporate citizen, the group is also in the forefront of
discharging its corporate social responsibilities through various initiatives
led by Mandava Foundation.
ReGen’s eminent Board of Directors
Mr. M. Prabhakar Rao is a highly successful businessman from Andhra Pradesh
who heads the over Rs.50000 millions NSL Group,
Prabhakar Rao is the recipient of Gold Medal and merit scholarship in his
Post Graduation in Agricultural Sciences from prestigious
Mr. Atul Kapur is a co-founder of and serves as the Chief
Investment Officer of Indivision Capital Management. Prior to founding
Indivision, he was Managing Director at Goldman Sachs International (UK). Atul
has successfully handled private equity investments in Europe,
Atul holds a Bachelors degree in Commerce from the
Mr. Madhusudan Khemka has over two decades of long and rich experience
in all aspects of Wind Energy Converters such as Manufacturing, Marketing, Project
Management, Customer Relationship Management, General Management, etc. He has
been instrumental in creating the market for wind energy in
He holds a Bachelors degree in Commerce from
Mr. R. Sundaresh has over two decades of in-depth experience in
Corporate Finance, Corporate Affairs, Law and General Management. He has vast
experience and expertise in raising financial resources in the domestic and
international market. His proficiency includes financial structuring of wind
power projects.
Sundaresh
holds a Post Graduate degree in Commerce from the
Mr. Kazi Zaman is an Executive Director in the Investments team
of Indivision India Advisors. He has worked at organizations like ICICI Venture
and ANZ Investment Bank. At ICICI he was involved primarily on investments in
the consumer and retail domains. He was responsible for structuring
Kazi is a CFA charter holder and holds a B.Tech. in Electrical Engineering from
IIT, Kharagpur and a Post Graduate Diploma in Management from IIM, Ahmedabad.
Mr. K Ramakoteshwar Rao is Executive Director of SCMSL, a Nuziveedu Seeds
Limited Group Company and holds the post of Director in other Group companies.
His long and rich career includes a decade long tenure at Bharat Heavy
Electricals Limited,
KRK Rao is a Post Graduate in Thermal Power Engineering from Banaras Hindu
University Institute of Technology.
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.44.49 |
|
|
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
27 |
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.