1. Summary Information
|
|
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Country |
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Company Name |
A2Z MAINTENANCE AND ENGINEERING SERVICES LIMITED |
Principal Name 1 |
Mr. Amit Mittal |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Dipali Mittal |
|
|
|
Registration # |
05-34805 |
|
Street Address |
O – 116, 1st Floor, Shopping Mall, Arjun Marg, DLF Phase –
1, Gurgaon – 122002, Haryana, India |
||
|
Established Date |
07.01.2002 |
SIC Code |
-- |
|
Telephone# |
91-124-4617600/ 4380015/ 4256737/ 4994320/ 4581706 |
Business Style 1 |
Electric Contracting |
|
Fax # |
91-124-2566582/ 4617608/ 4994342/ 4581706 |
Business Style 2 |
Facilities Management Services. |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
Product Name 2 |
-- |
|
|
Paid up capital |
Rs.
5,73,011,250/- |
Product Name 3 |
-- |
|
Shareholders |
Promoters Holding ( 44.63%) Public Shareholding (55.37%) |
Banking |
YES Bank Limited |
|
Public Limited Corp. |
YES |
Business Period |
9 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
Ba
(49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
Company |
|
A2z Infrastructure Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
11,421,417,000 |
Current Liabilities |
4,538,643,000 |
|
Inventories |
7,782,000 |
Long-term Liabilities |
3,516,046,000 |
|
Fixed Assets |
243,812,000 |
Other Liabilities |
375,554,000 |
|
Deferred Assets |
41,847,000 |
Total Liabilities |
8,430,243,000 |
|
Invest& other Assets |
960,236,000 |
Retained Earnings |
3,671,840,000 |
|
|
|
Net Worth |
4,244,851,000 |
|
Total Assets |
12,675,094,000 |
Total Liab. & Equity |
12,675,094,000 |
|
Total Assets (Previous Year) |
7,848,424,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
11,183,932,000 |
Net Profit |
949,036,000 |
|
Sales(Previous yr) |
6,847,073,000 |
Net Profit(Prev.yr) |
688,568,000 |
MIRA
INFORM REPORT
|
Report Date : |
08.03.2011 |
Note:
Given address could not be confirmed.
IDENTIFICATION DETAILS
|
Name : |
A2Z MAINTENANCE AND ENGINEERING SERVICES LIMITED |
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|
|
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Formerly Known
As : |
|
|
|
|
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Registered Office : |
O – 116, 1st Floor, DLF, Shopping Mall, Arjun Marg, DLF
Phase – 1, Gurgaon – 122002, Haryana |
|
|
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Country : |
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Financials (as on) : |
31.03.2010 |
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|
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Date of Incorporation : |
07.01.2002 |
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Com. Reg. No.: |
05-34805 |
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CIN No.: [Company
Identification No.] |
U74999HR2002PTC034805 |
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|
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|
Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on stock exchange. |
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|
Line of Business : |
The company operates in two main business i.e. Electric Contracting
and Facilities Management Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 17000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
O – 116, 1st Floor, Shopping Mall, Arjun Marg, DLF Phase –
1, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4617600/ 4380015/ 4256737/ 4994320/ 4581706/ 4581700 |
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Fax No.: |
91-124-2566582/ 4617608/ 4994342/ 4581706/ 4994355 |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
5th and 6th Floor, |
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Tel. No.: |
91-124-4517600/ 4776100 |
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Fax No.: |
91-124-4381471/ 4380014/ 91-124-2566682 |
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E-mail: |
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Corporate Office 2 : |
Plot No. 44, Sector 32, Institutional Area, Gurgaon-122001, |
|
Tel. No.: |
91-124-4517600/ 4776100 |
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Fax No.: |
91-124-4380014 |
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Branch Office : |
Located at: ·
Mumbai 101, First Floor,
Brij Bhoomi Apartment, Behind Canara Bank, Nehru Road, Vile Parle (E), Mumbai
- 400057. Tel: 91-22 – 67087594 Fax: 022 –
67087583 ·
Kolkata AD-99, 1st Floor,
Sector - I, ·
Room No. 211 and 212,
Pandey Mall, Behind Vishal Mega Mart, ·
Jaipur F–1, Malviya Appartments, Sardar Patel Marg, C - Scheme, Near B.J.P. Office, Jaipur, Rajasthan ·
13–B, West Patel Nagar,
Near on the Rock, ·
74/8 Near Satyam Hotel, Trikuta Nagar, Jammu-180029, JandK Tel: 91-191 –
2474039, 2470427 ·
H.No. - 133,
Sector-35A, ·
4, Pratap Nagar, Near
Bharat Vikas, 29, Surendra Nagar, ·
DH–53, Scheme No. 74/C,
Vijay Nagar, ·
Bhubaneshwar C/o. Mr. Anand Soni, Plot No. 44, Prachi Enclave, ·
Puri C/o. Dr. B.K. Jai Singh, Sarvodaya Nagar, Near Raj Villa, Puri – 752002, (Orissa) ·
House No. - 864, B - Block, Chandel Bhawan, Panki, ·
"Savariya Kripa" Near Saraswati School, Near S T Work Shop Chhattadiya Road, Rajula Dist.Amreli, Gujrat – 365560 ·
Kerala 43/231, Kaladiparambil,
Omega, Ayyapankavu, ·
Arunachal
Pradesh Siram Apartment, NH-52, Near Model Chruch, Banskota,
Pasighat, Arunachal Pradesh |
DIRECTORS
As on 07.12.2010
|
Name : |
Mr. Surender Kumar Tuteja |
|
Designation : |
Chairman and Director |
|
Address : |
S – 307, |
|
Date of Birth/Age : |
15.06.1945 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
00594076 |
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|
Name : |
Mr. Amit Mittal |
|
Designation : |
Managing Director |
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Address : |
TG 2B/4, Garden Estate, |
|
Date of Birth/Age : |
07.01.1968 |
|
Qualification: |
B.E |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
00058944 |
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|
|
|
Name : |
Mrs. Dipali Mittal |
|
Designation : |
Whole time Director |
|
Address : |
TG 2B/4, Garden Estate, |
|
Date of Birth/Age : |
05.03.1973 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
00872628 |
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Name : |
Mr. Rakesh Radheshyam Jhunjhunwala |
|
Designation : |
Director |
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Address : |
151, Nariman Bhavan, Mumbai – 400021, |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
00777064 |
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Name : |
Mr. Manish Gupta |
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Designation : |
Nominee Director |
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Address : |
701, |
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Date of Birth/Age : |
03.10.1973 |
|
Date of Appointment : |
31.08.2007 |
|
DIN No.: |
00604556 |
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Name : |
Mr. Brij Raj Singh |
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Designation : |
Nominee director |
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Address : |
Villa No. 74, Street 14B, Jumeriah 2 |
|
Date of Birth/Age : |
17.11.1963 |
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Date of Appointment : |
31.08.2007 |
|
DIN No.: |
01446886 |
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Name : |
Mr. Anshuman Goenka |
|
Designation : |
Alternate Director to Mr. Brij
Raj Singh |
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Address : |
A 1102, |
|
Date of Birth/Age : |
22.08.1974 |
|
Date of Appointment : |
10.06.2009 |
|
DIN No.: |
02276712 |
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Name : |
Mr. Gaurav Mathur |
|
Designation : |
Nominee Director |
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Address : |
18 Marlow, 62Bl, |
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Date of Birth/Age : |
15.11.1974 |
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Date of Appointment : |
12.10.2009 |
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DIN No.: |
0016492 |
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Name : |
Mr. Supratim Banerjee |
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Designation : |
Alternate Director to Mr. Gaurav Mathur |
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Address : |
Flat No. -2, Sreeji Krupa 517, HR Mahajani Marg, Matunga,
Mumbai-400019, Maharashtra, India |
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Date of Birth/Age : |
10.04.1976 |
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Date of Appointment : |
12.10.2009 |
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DIN No.: |
02052355 |
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Date of Cessation: |
11.06.2009 |
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Name : |
Mr. Vinod Sagar Wahi |
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Designation : |
Director |
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Address : |
Mayur Vihar, Phase I, New Delhi-110091, |
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Date of Birth/Age : |
01.09.1945 |
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Date of Appointment : |
07.12.2010 |
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DIN No.: |
01899217 |
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Name : |
Mr. Rajeev Thakore |
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Designation : |
Director |
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Address : |
D-63, Defence Colony, New Delhi-110024, Inbdia |
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Date of Birth/Age : |
20.07.1956 |
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Date of Appointment : |
07.12.2010 |
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DIN No.: |
00001732 |
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Name : |
Mr. Manoj Gupta |
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Designation : |
Whole time Director |
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Address : |
16-B, Near on the Rock, Weat Patel Nagar, |
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Date of Birth/Age : |
06.11.1973 |
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Date of Appointment : |
01.04.2005 |
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Date of Ceasing: |
18.03.2010 |
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DIN No.: |
00063460 |
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Name : |
Mr. Sanjeev Sharma |
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Designation : |
Whole time Director |
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Address : |
1361, Sector – 4, Urban Estate, Gurgaon – 122002, |
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Date of Birth/Age : |
29.07.1973 |
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Date of Appointment : |
30.09.2008 |
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Date of Ceasing: |
18.03.2010 |
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DIN No.: |
02159764 |
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Name : |
Mr. Sunil Gupta |
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Designation : |
Whole time Director |
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Address : |
L-3/11, DLF Phase – II, Gurgaon – 122002, |
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Date of Birth/Age : |
03.02.1956 |
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Date of Appointment : |
30.09.2008 |
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Date of Cessation: |
12.02.2009 |
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|
Name : |
Mr. Radhe Shyam Chaudhari |
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Designation : |
Director |
|
Address : |
House No.689, Sector – 8, Panchkula, Haryana – 136119, |
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Date of Birth/Age : |
05.04.1938 |
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Date of Appointment : |
30.09.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Atul Kumar Agarwal |
|
Designation : |
Secretary |
|
Address : |
Ground Floor, 210-B, Savitri Nagar, |
|
Date of Birth/Age : |
11.12.1975 |
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Date of Appointment : |
27.02.2008 |
|
PAN No.: |
AESPA4222Q |
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|
Name : |
Mr. Amit Kumar Agrawal |
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Designation : |
Chief Executive Officer |
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Address : |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B.E. |
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Experience : |
12 Years |
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Date of Appointment : |
15.03.2010 |
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Last Employment: |
Tetra Tech India Limited |
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Name : |
Mr. Rajesh Jain |
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Designation : |
President Corporation Affiar |
|
Address : |
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Date of Birth/Age : |
37 Years |
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Qualification : |
MBA |
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Experience : |
21 Years |
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Date of Appointment : |
23.03.2010 |
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Last Employment: |
Teracom Limited |
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|
Name : |
Mr. Nand Sardana |
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Designation : |
Senior Vice President |
|
Address : |
|
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Date of Birth/Age : |
44 Years |
|
Qualification : |
M.Com , CA |
|
Experience : |
20 Years |
|
Date of Appointment : |
23.12.2009 |
|
Last Employment: |
R Systems International Limited |
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|
|
|
Name : |
Mr. Hemant M Gupta |
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Designation : |
Corporate Development Officer |
|
Address : |
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Date of Birth/Age : |
32 Years |
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Qualification : |
B.A. (Psychology) |
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Experience : |
13 Years |
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Date of Appointment : |
01.09.2009 |
|
Last Emloyment: |
Enarr Adisors |
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Audit Committee: |
1. Mr. Surender Kumar Tuteja 2. Mr. Rajeev Thakore, 3. Mr. Vinod Sagar Wahi, 4. Mr. Manish Gupta |
|
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Remuneration Committee: |
1. Mr. Surender Kumar Tuteja 2. Mr. Rajeev Thakore, 3. Mr. Vinod Sagar Wahi. |
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Finance Committee: |
1. Mr. Amit Mittal; 2. Mrs. Dipali Mittal; 3. Mr. Surender Kumar Tuteja 4. Mr. Manish Gupta; 5. Mr. Anshuman Goenka 6. Mr. Supratim Banerjee |
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|
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Share Transfer Committee: |
1. Mr. Amit Mittal; 2. Mrs. Dipali Mittal 3. Mr. Rajeev Thakore, 4. Mr. Vinod Sagar Wahi |
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Investors Grievance Committee: |
1. Mr. Amit Mittal; 2. Mrs. Dipali Mittal 3. Mr. Vinod Sagar Wahi |
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IPO Committee: |
1.Mr. Surender Kumar Tuteja 2.Mr. Amit Mittal 3.Mr. Manish Gupta 4.Mr. Brij Raj Singh (Alternate Director-Mr. Anshuman Goenka) 5.Mr. Gaurav Mathur (Alternate Director-Mr. Supratim Banerjee) |
MAJOR SHAREHOLDERS
(As on 31.12.2010)
|
Names of Shareholders |
No. of Shares |
Percentage |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
33,105,640 |
44.63 |
|
|
33,105,640 |
44.63 |
|
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|
|
|
Total shareholding of Promoter and Promoter Group (A) |
33,105,640 |
44.63 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
2,115,525 |
2.85 |
|
|
365,850 |
0.49 |
|
|
3,334,212 |
4.49 |
|
|
5,449,627 |
7.35 |
|
|
11,265,214 |
15.19 |
|
|
|
|
|
|
6,250,959 |
8.43 |
|
|
|
|
|
|
1,636,181 |
2.21 |
|
|
17,441,586 |
23.51 |
|
|
4,478,114 |
6.04 |
|
|
84,054 |
0.11 |
|
|
4,393,085 |
5.92 |
|
|
975 |
- |
|
|
29,806,840 |
40.18 |
|
Total Public shareholding (B) |
41,072,054 |
55.37 |
|
Total (A)+(B) |
74,177,694 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
74,177,694 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
The company operates in two main business i.e. Electric Contracting
and Facilities Management Services. |
GENERAL INFORMATION
|
Bankers : |
·
State
Bank Of Patialia (Lead Bank), Commercial Branch, ·
State
Bank of ·
YES
Bank Limited, 9th Floor, Nehru Centre, Discovery Of |
||||||||||||||||||||||||||||||||||||
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Facilities: |
Notes ·
Term Loan
from Banks and a financial institutions aggregating to Rs. 791.044 Millions
(Previous year Rs. Nil) is secured by fixed assets located at 7th
and 8th Floor (Unit No. 801) tower B – Support Area, Medicity,
SEctoer-38, Gurgaon along with subservient charge on fixed assets, current
assets, movable properties, rights under the project agreements, rights under
the insurance policies an personal
guarantee of directors. ·
Foreign
currency demand loan, Working Capital Loans, Cash Credit Facility bill
discounting facilities and vendor financing amounting to Rs. 2676.248
Millions (Previous Year Rs. 2392.066 Millions) is secured by First Pari Passu
charge on the entire current as well as fixed assets of the company both
present and future along with collateral security and personal guarantee of
directors ·
Vehicle
Loans amounting to Rs. 48.754 Millions (Previous year Rs. 33.017 Millions) is
secured by the hypothecation of vehicles |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
S. R. Batliboi and Associates Chartered Accountant |
|
Address : |
Golf View Corporate Tower – B, Sector – 42, |
|
Tel No.: |
91-124-4644000 |
|
Fax No.: |
91-124-4644050 |
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|
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Subsidiaries : |
·
A2z Infrastructure Private Limited
(U45200DL2007PTC160927) ·
A2Z Infraservices Private Limited
(U74140HR2008PTC037820) ·
A2ZS Powercom Private Limited
(U45204HR2008PTC037877) ·
A2Z Powertech Private Limited
(U72900HR2008PTC037875) ·
Imatek Solutions Private Limited
(*33209MH2004PTC146680) ·
Selligence Technologies Services Private Limited
(U72300HR2008PTC038259) ·
A2Z Waste Management ( ·
A2Z Waste Management (Merrut) Private Limited
(U9001HR2009PTC039773) ·
A2Z Waste Management ( ·
A2Z Waste Management ( ·
CNCS Facility Solutions Private Limited
(U93090MH2006PTC165704) |
|
|
|
|
Joint Venture: |
·
UB Engineering Limited ·
SPIC-SMO Limited ·
Shyama Power ( ·
Linkwell Tele Systems Private Limited |
CAPITAL STRUCTURE
(As on 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
57301125 |
Equity Shares |
Rs.10/- each |
Rs. 573.011 Millions |
Note
Increase in Share capital during the year 2009-10 comprises of:
-
1273358 Equity Shares of
Rs. 10/- each (Face value) allotted at a premium of Rs. 775.32 per share.
-
34380675 Equity Shares of
Rs. 10 each (Face Value) has been allotted as fully paid up bonus shares in
ratio of 3:2 by capitalizing securities premium.
Of the above:
- In the financial year 2008-09, 2510687 Equity Shares of Rs. 10 each
were allotted at a premium of Rs.
288.723 per share on conversion of 75000000. 001% cumulative Mandatorily
Convertible Preference Shares of Rs. 10 each fully paid up.
- In the financial year 2007-08, 17509481 Equity Shares of Rs. 10 each
(Face Value) were allotted as fully paid bonus share in ratio of 11:1 by
capitalizing securities premium.
- In the Financial year 2007-08, 35153 Equity Shares of Rs. 10 each
(face value) were allotted ot employees at a premium of Rs. 274.47 per
share
- In the financial year 2007-08, 47766 Equity Share of Rs. 10 each
(face value) were allotted at a premium of Rs. 492.44 per share on
conversion of share warrants.
- In the financial year 2006-07, 429898 share of Rs. 10 each (face
value) were allotted at a premium of Rs. 408.70 per share.
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 |
573.011 |
216.471 |
941.364 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3671.840 |
2079.345 |
665.887 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4244.851 |
2295.816 |
1607.251 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3516.046 |
2425.083 |
1247.275 |
|
|
2] Unsecured Loans |
0.000 |
200.000 |
1.390 |
|
|
TOTAL BORROWING |
3516.046 |
2625.083 |
1248.665 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7760.897 |
4920.899 |
2855.916 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
243.812 |
146.166 |
122.244 |
|
|
Capital work-in-progress |
292.613 |
71.159 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
618.204 |
211.541 |
10.000 |
|
|
DEFERREX TAX ASSETS |
41.847 |
24.618 |
24.529 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.782
|
20.693
|
121.026
|
|
|
Sundry Debtors |
7878.114
|
4697.723
|
3184.890
|
|
|
Cash & Bank Balances |
883.963
|
684.399
|
469.392
|
|
|
Other Current Assets |
1782.388
|
1198.075
|
471.130
|
|
|
Loans & Advances |
876.952
|
794.050
|
417.391
|
|
Total
Current Assets |
11429.199 |
7394.940 |
4663.829
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1911.349
|
1102.991
|
577.693
|
|
|
Other Current Liabilities |
2627.294
|
1499.261
|
1195.947
|
|
|
Provisions |
375.554
|
325.273
|
191.046
|
|
Total
Current Liabilities |
4914.197 |
2927.525 |
1964.686
|
|
|
Net Current Assets |
6515.002 |
4467.415 |
2699.143
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
49.419 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7760.897 |
4920.899 |
2855.916 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Revenue from Engineering Services) |
11183.932 |
6847.073 |
4632.538 |
|
|
|
Revenue from Facility Management Services |
0.000 |
15.030 |
0.000 |
|
|
|
Other Income |
57.865 |
118.874 |
23.485 |
|
|
|
TOTAL (A) |
11241.797 |
6980.977 |
4656.023 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material and Services |
8206.916 |
4738.371 |
|
|
|
|
Personnel Expenses |
352.928 |
279.259 |
|
|
|
|
Administrative and Selling expenses |
569.827 |
394.262 |
|
|
|
|
TOTAL (B) |
9129.671 |
5411.892 |
3788.197 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2112.126 |
1569.085 |
867.826 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
624.127 |
484.845 |
149.615 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1487.999 |
1084.240 |
718.211 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.463 |
11.834 |
13.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1463.536 |
1072.406 |
704.896 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
514.500 |
383.838 |
260.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
949.036 |
688.568 |
444.766 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1300.666 |
612.100 |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on preferences shares |
0.000 |
0.002 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
22409.702 |
1300.666 |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.56 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
8.44 |
9.86 |
9.55
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.49
|
15.66 |
15.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.54 |
14.22 |
14.73
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.47 |
0.44
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.99 |
2.42 |
1.99
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.33 |
2.53 |
2.37
|
LOCAL AGENCY FURTHER INFORMATION
Nature of
Operation:
Subject (Formerly Known as A2Z MAINTENANCE AND ENGINEERING SERVICES
PRIVATE LIMITED) (‘A21Z or the company) was incorporated at National Capital Territoryt
of Delhi on January 7, 2002 for providing maintenance and engineering services.
The company commenced its business with the facility management services and
entered into engineering business during the 2005-06.
The company’s engineering business segment primarily includes supply,
erection and maintenance of electricity transmission lines and allied services
to power distribution companies. During the
year the company has also entered into collaboration with sugar mills
for setting up 3 Cogenration (Cogen) power plants on BOOT basis for a period of
15 years.
During the year, the company has also acquired 100% stake in Imatek
Solutions Private Limited.
FINANCIAL ANALYSIS
and REVIEW OF OPERATIONS
The Company is providing EPC services to the power transmission and
distribution (“TandD”) sector. As part of these services, they provide
integrated design, testing, installation, construction and commissioning
services on a turn-key basis to the clients in this sector. The Company
participates in projects involving rural electrification, railway overhead
electrification, reduction of ATandC losses, feeder renovation, underground
cabling, feeder segregation, installing High Voltage Distribution System
(“HVDS”) and Low Voltage Distribution System (“LVDS”) distribution lines,
substations and transmission lines. They believe they have established a strong
presence in the power distribution sector in
During the year, the company has performed exceedingly well. The company
has achieved total operating income of Rs. 11183.900 Millions as against Rs.
6862.100 Millions in the previous year showing an increase of 62.98 %. The
company has earned cash profit of Rs. 1488.000 Millions as against Rs. 1084.200
Millions in the previous year showing an increase of 37.24%. Profit before
taxation is increased from Rs. 1072.400 Millions to Rs. 1463.500 Millions
showing an increase of 36.47 %. The company has achieved net profit after tax
of Rs. 949.000 Millions as against Rs. 688.600 Millions in the previous year
showing an increase of 37.82 %. The growth in profit is mainly because of
better planning, execution in electric contracting and better working capital
management.
CAPITAL STRUCTURE
During the financial year the Company has issued 152,803 fully paid up
equity shares having face value of Rs. 10/-(Ten) each to Beacon India Investors
Limited and 1,120,555 fully paid Equity shares of Rs. 10/-(Ten) each to
Lexington Equity Holdings Limited.
Further Company has also issued 34,380,675 fully paid up equity shares
of Rs. 10/- each as bonus shares to the existing share holders of the Company
by way of capitalization of securities premium in the ratio of 3 shares for
every 2 shares held by them. Consequent to this the paid up equity share
capital of the Company has been increased from Rs. 216.471 Millions to Rs.
573.011 Millions.
INITIAL PUBLIC
OFFER (IPO)
The Company proposes to come out with an initial public offering (the
“Offering”) of its equity shares, par value Rs. 10/- per share (the “Equity
Shares”), in accordance with applicable laws, regulations, policies and
guidelines, in India or outside India, including, without limitation, the
Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2009, as amended, the Companies Act, 1956, as
amended (the “Companies Act”) and the listing regulations (together, the “Applicable
Laws”). The Offering structure finalized at the absolute discretion of the
board of directors of the Company or a duly constituted committee of the board
of directors (together, the “Board”), and may include a fresh/new issue of
Equity Shares (“Fresh Issue”) and/or an offer for sale (“Offer for Sale”) by
certain shareholders of the Company (the “Selling Shareholders”). The Offering
may also include a reservation of a certain number of Equity Shares for any
category or categories of persons as permitted under Applicable Laws (the
“Reservation”). In addition, the Company and/or the Selling Shareholders may
complete a private placement of certain Equity Shares to selected investors as
permitted under Applicable Laws (“Pre- IPO Placement”). Unless the context
refers otherwise, the term “Offering”, as used in these resolutions, includes a
Fresh Issue and an Offer for
The Equity Shares are proposed to be listed on the Bombay Stock Exchange
Limited, the National Stock Exchange of India Limited and any other stock
exchange as determined by the Board at its absolute discretion (together, the
“Stock Exchanges”) and the Company will be required to enter into listing
agreements with each of the Stock Exchanges (the “Listing Agreements”).
From 8
|
Corporate
identity number of the company |
U74999HR2002PTC034805 |
|
Name of the
company |
A2Z Maintenance
and Engineering Services Private Limited |
|
Address of the
registered office or of the principal place of business in |
O-116,Ist Floor,
DLF, Shopping Mall Arjun Marg, DLF Ph-I Gurgaon, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10223446 |
|
Type of charge |
Book Debts Movable Property Floating Charges Others |
|
Particular of
charge holder |
YES Bank Limited,
9th Floor, Nehru Centre, Discovery Of |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation dated December 27, 2010 |
|
Date of
instrument Creating the charge |
27.12.2010 |
|
Amount secured by
the charge |
Rs. 1000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan: Yes
Bank Prime Lending Rate minus 6.50% per annum LC: 1.50% p.a. BC: To be
decided, such that the all in pricing does not exceed YBL PLR minus 6.10%
i.e. effective rate being 11.9% p.a. Terms of
Repayment 1 Term Loan (INR 1000,000,000):
Quarterly repayment after 24 months from first date of disbursement or after
twelve months from the actual date of commissioning, whichever is later. Sub limit of 1 1a Letter of
Credit (LC) (INR 500,000,000): NA 1b Buyers Credit
(BC) (INR 500,000,000): NA Margin 1 Term Loan: Nil Sub limit of 1 1a Letter of
Credit (LC): Nil 1b Buyers Credit:
Nil Extent and
Operation of the charge First charge over
all present and future movable fixed assets all current assets both present and
future of the project located at Nakodar, Morinda and Fazilka ( |
|
Short particulars
of the property charged |
First charge on
all Current Assets of the project located at Nakodar, Murunda and Fazilka in First charge on
whole of the Movable Fixed Assets of the Borrower including plant and
machinery located at Nakodar, Morinda and Fazilka in |
|
Date of
instrument modifying the charge |
12.07.2010 |
|
Particulars of
the present modification |
Modification is
pursuant to following changes: 1 The Term Loan
Facility has been enhanced from INR 750 Million only to INR 1000 Million only 2 Fresh Letter of
credit facility of INR 500 Million sanctioned as sub limit of Term Loan of INR
1000 Million 3 Fresh Buyers
credit facility of INR 500 Million sanctioned as sub limit of Term Loan INR
1000 Million Total Exposure
stands increased to INR 1000 Million. |
|
Corporate
identity number of the company |
U74999HR2002PTC034805 |
|
Name of the
company |
A2Z Maintenance
and Engineering Services Private Limited |
|
Address of the
registered office or of the principal place of business in |
O-116,Ist Floor,
DLF, Shopping Mall Arjun Marg, DLF Ph-I Gurgaon, |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
State Bank Of Patialia
(Lead Bank), Commercial Branch, |
|
Nature of
instrument creating charge |
Joint Deed Of
Hypothecation Dated 07/12/2009 Executed Between The Company And Member Of
Consortium Banks. |
|
Date of
instrument Creating the charge |
07/12/2009 |
|
Amount secured by
the charge |
Rs. 9880.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate Of Interest As Per Respective
Sanction Letters Of Member Banks. Terms Of Payment : Repayable On Demand Margin As Per Respective
Sanction Letters Of Member Banks. Extent And Operation Of The Charge Pari Passu Charge
Amongst Consortium Members Others The Above Is To Secure
Following Total Credit Facilities Granted By The Member Banks : (Rs. in
Millions) SBOP =
1800.000, SBI = 570.000, YES = 320.000, ICICI = 500.000, HSBC = 797.500, UBI = 350.000, ABN Amro = 400.000 SCB =
812.500, SBM = 210.000, SB Indore = 300.000, ING = 510.000, DBS =
400.000, SBH = 350.000, IDBI=1560.000, AXIS=1000.000 Total = 9880.000
Millions. |
|
Description of
the property charged indicating whether it is a charged on |
Immovable
properties |
|
Short particulars
of the property charged |
The Whole Of The
Assets, Both Present And Future (Current As Well As Fixed) of The |
|
Date of
instrument modifying the charge |
09/09/2009 |
|
Particulars of
the present modification |
Consortium
Members Banks First Pari Passu Charge On The Entire Current Assets As Well As
Fixed Assets Of The Company, Both Present And Future Already Registered For
Rs. 6610.000 Millions Shall Stand Enhanced To Rs. 9880.000 Millions As Per
Details Attached In Annexure. All Other Terms and Conditions Will Remain The
Same. |
Bankers Charges
Report as per Registry
|
Name of the company |
A2Z MAINTENANCE AND ENGINEERING SERVICES PRIVATE LIMITED |
|
Presented By |
Shri Amit Kumar,
Director, BHD SBBJ |
|
1) Date and description of instrument creating the change |
Hypothecation of
Current Assets, Fixed Assets to become Cash Credit Limited of Rs. 50.000
Million dated 18.06.2009 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.500 Million
Cash Credit Limit |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
all Plant and Machinery Current Assets and other movable assets |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
·
Cash
Credit Limit of Rs. 0.500 Millions ·
To be
renewed after one year ·
Interest
is to be charged @ 11.25% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
FIXED ASSETS
Tangible Assets
·
·
·
Furniture and Fixture
·
Office Equipment
·
Plant and Machinery
·
Computer
·
Vehicle
·
Tools and Equipments
Intangible assets
·
Computer Software
AS PER WEBSITE
DETAILS:
Group History:
After Incorporation, A2Z is one of the fast growing enterprises on the
Indian business horizon. The Company was acquired by Mr Amit Mittal from its
existing shareholders in December 2003 and February 2004. Initially The Group
began its operations in Facility Management Services (FMS) and later entered
the Engineering Procurement and Construction (EPC) business, in the fiscal year
2008. The EPC business got its intensity with the acquisition of Sri Eswara Sai
Construction Private Limited, a company registered in the year 2007 engaged in
the installation of transmission lines, which was subsequently merged with and
into the Company, in January 2008. To enhance the business focus and streamline
operations, the Company transferred its FMS business to its wholly-owned
subsidiary, A2Z Infraservices in the same year pursuant to a court-approved
scheme of demerger. In August 2009, they further consolidated the presence in
the FMS segment through the acquisition of Imatek.
The capabilities in the EPC business were further strengthened in May 2010,
when they executed a business transfer agreement to purchase the entire
business of Surendra Choudhary and Brothers, a partnership firm, constituted in
the year 2006 engaged in the business of construction of electrical sub-stations
and railway electrification work.
Reckoned as a one of the leading EPC Business Enterprise among the public and
private sector giants, they have earned an enviable reputation of delivering
360 degrees solutions of unparalleled, international standards. The timely
executions of complex projects, backed by a highly motivated, cohesive
workforce that works seamlessly on the state-of-the-art technology platform,
has lead the group to become one of the most versatile business groups. Over
the years The Group has also commanded prominent presence as Municipal Solid
Waste Management (MSW), Facility Management Services (FMS) and Biomass Power
Companies of the country.
The near 100% client retention record, strong clientele and alliances across
businesses, strong auditors and consultants, robust financial performance,
strong banking support and the turnover of Rs 12140.000 Millions, demonstrates
the keen business acumen and remarkable foresight of the experienced and award
winning A2Z Management. In addition, financial, managerial support and
experience of the investors has fostered the business and its executing
strategy.
The Group has following five Business Segments
-
EPC
-
Renewable Power
Generation
-
MSW
-
FMS
-
Power IT Application
These businesses are further executed by the
following Group Companies, under A2Z Maintenance and Engineering Services:
A2Z Infraservices Limited
It provides back-end management services for efficient functioning of shopping
malls, airport, multiplexes, corporate and business establishments like
housekeeping services, security services etc., and upkeep of railway trains and
stations to provide transportation services.
A2Z Infrastructure Limited
It upholds the business of collection, segregation and transportation of
municipal solid wastes on design, renovate, operate, maintain and transfer or
on commercial basis for municipal corporations/local authorities/governmental
authorities.
A2Z Powercom Limited
It was established to manufacture, produce and distribute power
transformers, transmission line conductors, establish power plants and
undertake associated activities of engineering, drawing, installation and
commissioning in
A2Z Powertech Limited
It caters to the business of system integrators in the power sector
using IT applications, autoreclousers with magnetic actuators, RMUs, CSS,
sub-station automation, network energy management solution etc.
Imatek Solutions Private Limited
It plies to the business of running, hiring, operating, constructing,
installing, acquiring, undertaking, promoting, owning and organizing
photography and imaging laboratories, photography and imaging studios,
developing and printing of photo films, computerized digital work, photography
and imaging technology in India and abroad.
Selligence Technologies Services Private
Limited
It provides appropriate cost-effective and efficient technological
solutions to accelerate implementation of quality ERP for development, and to
provide a variety of efficient and effective services for implementation of
development programs.
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2010
(Rs. in Millions)
|
Particulars |
Three Months
Ended 31.12.2010 |
Nine Months Ended 31.12.2010 |
|
|
(Unaudited) |
(Unaudited) |
|
1. a) Net Sales/ Income from Operations |
2337.900 |
7765.060 |
|
b) Other Operating Income |
40.890 |
42.510 |
|
Total Income |
2378.790 |
7807.570 |
|
Expenditure |
|
|
|
a) Increase/ Decrease in stock in trade |
12.570 |
[120.850] |
|
b) Material Consumed |
1205.340 |
3910.770 |
|
c) Purchase of traded goods |
59.860 |
208.350 |
|
2.d) Sub Contractor charges |
225.060 |
846.120 |
|
e) Employee Cost |
135.640 |
374.280 |
|
f) Depreciation / Amortisation |
29.140 |
103.060 |
|
g) Other Expenditure |
366.580 |
1071.100 |
|
h) Total |
2034.190 |
6392.830 |
|
3. Profit form operations before other income, Interest and Exceptional Items
(1-2) |
344.600 |
1414.740 |
|
4. Other Income |
21.330 |
54.340 |
|
5. Profit before Interest but before
Exceptional Items (5-6) |
365.930 |
1469.080 |
|
6. Interest |
171.960 |
456.000 |
|
7. Profit after Interest but before
Exceptional Items (3-6) |
193.970 |
1013.080 |
|
8. Exceptional Items |
-- |
-- |
|
9. Profit/ Loss from Ordinary Activities
before tax (7+8) |
193.970 |
1013.080 |
|
10. Tax Expenses |
|
|
|
- Current Tax |
44.410 |
349.190 |
|
- Deferred tax charge/ (Credit) |
13.720 |
[3.970] |
|
11. Net Profit/ Loss from Ordinary Activities
after tax (9-10) |
135.840 |
667.860 |
|
12. Extraordinary Item (Rs. 130.02.0
Millions, net of Deferred tax credit of Rs. 43.190 Millions) |
-- |
86.830 |
|
13. Net Profit/ Loss for the period (11-12) |
135.840 |
581.030 |
|
14. Paid –up Equity share capital (Face
value of the share- Rs. 10/- each) |
741.780 |
741.780 |
|
15. Reserve excluding Revaluation Reserve |
-- |
-- |
|
Earning Per Share (EPS) |
|
|
|
Basic Earning per share |
|
|
|
- Compared on the basis of earning excluding
extra-ordinary items (not annualized) |
2.33 |
11.46 |
|
16.- Computed on the basis of earning
including extra-ordinary items (not annualized) |
2.33 |
9.97 |
|
Diluted Earning per share |
|
|
|
- Compared on the basis of earning excluding
extra-ordinary items (Not annualized) |
2.33 |
11.46 |
|
- Computed on the basis of earning including
extra-ordinary items (Not annualized) |
2.33 |
9.97 |
|
17. Public Shareholding |
|
|
|
- Number of Shares |
41072054 |
41072054 |
|
- Percentage of Shareholding |
55.37 |
55.37 |
|
Promoters and Promoter Group Shareholding |
|
|
|
a) Pledged/ Encumbered |
|
|
|
- Number of Shares |
3655000 |
3655000 |
|
- Percentage of shares (as a% of the total shareholding
of promoter and promoter group) |
11.04 |
11.04 |
|
- Percentage of shares (as a% of the total share capital of the company) |
4.93 |
4.93 |
|
18. b) Non-Encumbered |
|
|
|
- Number of Shares |
29450640 |
29450640 |
|
- Percentage of shares (as a % of the total
shareholding of promoter and promoter group) |
88.96 |
88.96 |
|
- Percentage of shares (as a % of the total
share capital of the compnay) |
39.70 |
39.70 |
Notes:
1. The above financial results have been
reviewed by the Audit committee and on their recommendation have been approved
by the Board of Directors at its meeting held on February 14, 2011. The
statutory auditors have conducted a “Limited Review” of the unaudited financial
results for the quarter ended December 31, 2010.
2. During the quarter, the Company has made an
Initial Public Offer (IPO) and allotted 16,845,189 equity shares of face
valueRs 10/-, at a premium of Rs 390/- per equity share and has also allotted
31,380 equity shares of face value Es 10/-, at a premium of Rs 370/- per equity
share to employees aggregating to Rs 6,750 million. Consequently the paid up
Equity Share Capital and Share Premium Account has been increased by Rs 168.770
Millions respectively. The company’s share have been listed on Bombay Stock
Exchange Limited (BSE) and National Stock Exchange Limited (NSE) on December
23, 2010.
3. The primary reporting of the company has
been performed on the basis of business segment. Segments have been identified
and reported based on the nature of the products, the risks and returns, the
organization structure and the internal financial reporting systems. The
company is operation into following segments – i) Engineering service (ES) (ii)
power generation projects (‘PGP’) and (iii) others represent trading of
inventory and equipments, renting of equipments and providing housekeeping
services.
|
Particulars |
Three Months
Ended 31.12.2010 |
Nine Months Ended 31.12.2010 |
|
|
(Unaudited) |
(Unaudited) |
|
1. Segment Revenue (Net |
|
|
|
a) Segment – ES |
2117.080 |
7337.240 |
|
b) Segment – PGP |
-- |
-- |
|
c) Segment – Others |
220.820 |
427.820 |
|
Total |
2337.900 |
7765.060 |
|
Less: Inter Segment Revenue |
-- |
-- |
|
Net Sales/ Income from Operations |
2337.900 |
7765.060 |
|
2. Segment Results Profit/ Loss before tax
and interest from each segment |
|
|
|
a) Segment – ES |
305.850 |
1457.760 |
|
b) Segment – PGP |
[6.480] |
[8.670] |
|
c) Segment – Others |
101.870 |
132.570 |
|
Total |
401.240 |
1581.660 |
|
Add: Interest Income |
19.250 |
47.670 |
|
Less: |
|
|
|
(i) Interest Expenses |
171.960 |
456.000 |
|
(ii) Other Unallocable expenditure net off unallocable
income |
54.560 |
160.250 |
|
Total Profit Before Tax |
193.970 |
1013.080 |
|
3. Capital Employed (Segment assets – Segment Liabilities) |
|
|
|
a) Segment- ES |
10728.160 |
10728.160 |
|
b) Segment –PGP |
25.950 |
25.950 |
|
c) Segment- Others |
303.300 |
303.300 |
|
d) Unallocated |
89.000 |
89.000 |
|
Total |
11146.410 |
11146.410 |
PRESS RELEASE
A2Z Maintenance
and Engineering Services Limited
Press Release: Q3
FY 11 Results and update on business operations
The company has released its standalone results today which primarily
comprise its Engineering Services (ES)/Engineering, Procurement and
Construction (EPC) business. This business will continue to be the principal
contributor to the bottom line in FY 11 as most other businesses, other than
FMS, are in gestation stage.
Commenting on the results, Amit Mittal, Managing Director, said “We are
very excited by the opportunities we see ahead of us. We have delivered strong
growth and results in the past and are well positioned for the future with a
strong team and a strong balance sheet which will allow them to meaningfully
address these opportunities. We will provide consolidated and segmental results
starting QI FY 12. Further, the company will host an Analyst meet to discuss
consolidated and segmental FY 11 results as soon as they are announced.”
Please visit investor section on the company website,
www.a2zgroup.co.in, for the corporate presentation that explains in more detail
the company’s strategy and its various business units.
Disclosure on
forward looking statements
Certain statements in this release may refer to the future growth and
profitability prospects and hence are forward-looking statements, which involve
a number of risks and uncertainties that could cause actual results to differ
significantly from directional indications stated below.
Highlights of
various business units
The progress of each business unit is discussed below:
Parent entity: A2Z
Maintenance and Engineering
The standalone parent legal entity comprises of 3 segments: Engineering
Services (ESIEPC), Renewable power generation and Others.
Total income from operations for 9 Months FY 11 is Rs 7770.000 Millions
of which Rs 2340.000 Millions was recognized in Q3 FY 11 Out of this, ES/EPC
contributed Rs 7340.000 Millions and Rs 2120.000 Millions respectively during
the corresponding periods. Similarly, PAT before extra ordinary items was Rs
668.000 Millions for 9 Months FY 11 and Rs 136.000 Millions for Q3 FY11.
There was a slowdown in EPC order execution in Q3 due to some temporary
external circumstances beyond the company’s control. JandK witnessed law and
order issues and Leh and Kargil were adversely impacted due to weather related
seasonality which resulted in loss of working days. The reduced revenue booking
resulted in lower EBITDA margins for the quarter in comparison with previous
quarters.
Power generation comprises the three power projects in
Others mainly comprises of trading of materials used by the suppliers.
It also comprises of some small equipment leasing and housekeeping services
which are one off items.
Our Sundry Debtors as on 31 December, 2010 are Rs 6740.000 Millions,
down from Rs 7880.000 Millions as on 31 March, 2010. Out of the total debtors,
Rs 3740.000 Millions represents retention money as on 31 December, 2010, down
from Rs 4280.000 Millions as on 31 March, 2010. The company will keep a strong
focus on working capital reduction through various measures such as judicious
project selection and stronger internal processes.
Business outlook:
Power TandD
The company remains focused on bidding selectively for fair margin
orders which have moderate working capital requirements.
(Rs.
in Millions)
|
Opening order book as of 1 April, 2010 |
13840.000 |
|
New Firm orders between 1 April, 2010 and 31 December, 2010 |
4980.000 |
|
Orders executed and recognized as revenue (1 April, 2010 to 31
December, 2010) |
7340.000 |
|
Closing Firm order book as on 31 December, 2010 |
11480.000 |
|
New firm order between 1 January, 2011 and 12 February, 2011 |
1720.000 |
|
Unexecuted order book as on 12 February, 2011 (excluding revenue
recognized form 1 January, 2011 to 12 February, 2011 |
13200.000 |
|
Orders not finalized but where company is L1 as of 12 Feb, 2011 |
9620.000 |
The company has entered the new arena of usage of lT applications to
improve the financial health of the DISCOMs. The company is implementing a
novel project for Jabalpur DISCOM to reduce ATandC losses. ‘ This ADB funded
project is the first of its kind in
We are also developing an automatic meter reading solution for the Power
Utilities. The solution will permit remote meter reading and has a remote
disconnection feature which will reduce instances of theft thus permitting
enhanced billing collection efficiency and reduction in commercial losses.
The company has expanded into International markets through its first
ADB backed project in
Renewable Energy
Generation
The BTG (Boiler Turbine Generator) equipment for the first four
renewable energy projects (45 MW biomass based co generation projects in
Punjab, housed in the parent, and 15 MW biomass/RDF based project in
The Power Purchase Agreement (PPA) for the
We are In various stages of development of biomass based projects in
Rajasthan and rice husk based projects in Punjab as specified in the lPO
prospectus, However, we expect some delay in commencement of rice husk projects
in
Facilities
Management Services (FMS)
As on 31 December, 2010, A2Zs consolidated FMS business has employed
directly! indirectly over.’ 22,000 people making it one of the largest facilities
management companies in
A2Z MESL acquired a majority stake in CNCS Facility Solutions thorough
Imatek solutions Private Limited in October, 2009 and A2Z Infra services
acquired 100% stake in IPMSL (Facilities Management Division of ILFS) in
October, 2010 from IL.andFS Group. ILFS in turn acquired 20% stake in A2Z’s FMS
Business. While the A2Z business was strong in the North, CNCS was strong in
the West and IPMSL had a significant market presence in
The combined pan
As this business segment is a combination of profitable business units
and an acquired loss making business unit which is in the process of being
turned around, it will not contribute significantly to the consolidated PAT of
A2Z in FY11 but should do so in FY12.
Municipal Solid
Waste Management (MSW)
The company has won Integrated (Collection, Transportation, Processing
and Disposal) projects of capacity 4,685 MT/day from various urban local bodies
(ULB) under competitive bidding under the JNNURM and UIDSSMT schemes. These are
25 to 30 year annuity projects with price escalation clauses. In addition, we
also have standalone CandT (Collection and Transportation) contracts that are
of capacity 920 MT/day and standalone PandD (Processing and Disposal) projects
of capacity 995 MT/day. Moreover, we are Li in
There is some delay in overall ramp up in this business from our initial
estimates due to delays in obtaining land from urban local bodies for
construction of processing plant and landfills resulting in delays in ordering
of equipment.
The
The waste processing facility is already generating Compost and RDF
(Refuse Derived Fuel) with satisfactory yields and the equipment and composting
process are being further optimized to enhance yields. The compost has been
successfully sold to fertilizer companies and the RDF has been tested in
laboratories and in kilns of a private sector cement company suggesting highly
satisfactory Gross Calonific Values (approx 4,000 1< CaIs/Kg). We plan to
use the entire output of RDF as input feedstock for our power plants (discussed
below).
The
inflation linked adjustments. Further, we expect significant revenue
from sale of processing outputs such as Compost, RDF, recyclables, bricks etc.
Water and Waste
Water Treatment
The company has various domestic and international tie-ups for providing
integrated water and wastewater solutions for urban, rural and industrial
applications. The company offers turnkey solutions in water treatment,
wastewater treatment, instrumentation and automation, sludge management.
Further, it has expertise in setting up of distribution networks, water pumping
stations and sewerage with decentralized treatment systems.
A2Z is Li bidder in projects with a total order size of Rs 380.000
Millions as on December 31, 2010. The company is targeting value added projects
in the water distribution system chain and PPP projects which are annuity in
nature which will provide stable cash flows over a period of 5 to 15 years.
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.45.13 |
|
|
1 |
Rs.73.36 |
|
Euro |
1 |
Rs.63.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.