MIRA
INFORM REPORT
|
Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
POWERICA LIMITED (w.e.f. 05.10.1989) |
|
|
|
|
Formerly Known As : |
CONSOLIDATED POWER SYSTEMS LIMITED |
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Registered Office : |
74-A, Mittal Court, Nariman Point, Mumbai-400 021, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
04.05.1984 |
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|
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Com. Reg. No.: |
11-32825 |
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CIN No.: [Company
Identification No.] |
U31100MH1984PLC032825 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP15268B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACP3812E |
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|
|
Legal Form : |
A Closely Held Public Limited Liability company |
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|
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|
Line of Business : |
Manufacturing and marketing of Diesel Generator Sets, Control Panels,
Engines and Alternators. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 24000000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal 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 |
|
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 : |
74-A, Mittal Court, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-40012910 / 22825949 |
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Fax No.: |
91-22-22043782 |
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E-Mail : |
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|
Website : |
www.powericaltd.com |
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Administrative office : |
115 Mittal Court, B-Wing, Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22- 66562525 / 66562510 / 2282 5949 |
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Fax No.: |
91-22-22043782 |
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E-Mail : |
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Website : |
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Corporate
Marketing Office : |
501, |
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Tel. No.: |
91-22-66562525 |
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Fax No.: |
91-22-40012692/27566239 |
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E mail: |
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CUSTOMER CARE CENTRE : |
B-8, MIDC Industrial Area,
Taloja,Dist.Raigad. |
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Tel. No.: |
91-22-67771555 / 67771666 |
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Fax No.: |
91-22-27411531 |
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E-Mail : |
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Factory 1 : |
TALOJA |
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Tel. No.: |
91-22-67771500/6771600 |
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Fax No.: |
91-22-27412221 |
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E-Mail : |
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Contact Person: |
Mr. Sanjiv Sharma : 91-9930811945 Mr. U.A. Gadiyar : 9820807590 |
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Factory 2 : |
TALOJA FACTORY (Design dept) B-8, MIDC Industrial Area, Taloja, Dist – Raigad, |
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Tel. No.: |
91-22-67771500/6777160 |
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Fax No.: |
91-22-27402609/27411531 |
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Contact Person: |
Mr. U.A. Gadiyar |
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Factory 3 : |
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Tel. No.: |
91-80-27724994/5 27722392 |
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Fax No.: |
91-80-27724946 |
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E-Mail : |
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Contact Person: |
Mr. T.B. Nedungadi |
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Factory 4 : |
8-10, Surpreme Industrial Area, |
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Tel. No.: |
91-260-2220707 |
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Fax No.: |
91-260-2220836 |
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E-Mail : |
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Contact Person: |
Mr. M. Raneendran Mobile No.: 91-9824156040 |
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Factory 5 : |
Chennai (SEZ
UNIT) Plot No. B23 and 24A, Phase II, MPZ-SEZ, 4th |
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Tel. No.: |
91-44-22626161/ 7181 |
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Fax No.: |
91-44-22627171 |
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E-Mail : |
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Contact Person: |
Mr. Jaya Kumar Mobile No.: 91-9840737919 |
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Location : |
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Factory 6 : |
Silvassa Plot No. 102/2, Village Khutli, Khanvel, |
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Tel. No.: |
91-260-2677948/ 49/ 3294815 |
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Fax No.: |
91-260-2677949 |
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E-Mail : |
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Contact Person: |
Mr. S Marathe Mobile No. -9328264862 |
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Location : |
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Marketing Offices/ Branches : |
Located At:
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DIRECTORS
As on 30.07.2010
|
Name : |
Mr. Naresh Chander Oberoi |
|
Designation : |
Chairman and Managing Director |
|
Address : |
181-B, Jolly Maker Apartment, Cuffe Parade, Colaba, Mumbai – 400005, |
|
Date of Birth/Age : |
08.03.1942 |
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Date of Appointment : |
01.09.2008 |
|
DIN No.: |
00009000 |
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|
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Name : |
Mr. Bharat Naresh Oberoi |
|
Designation : |
Joint Managing Director |
|
Address : |
Maker Tower “B”, 3rd Floor, Flat No. 31, Cuffe Parade, Colaba,
Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1971 |
|
Date of Appointment : |
01.11.2003 |
|
DIN No.: |
00083664 |
|
|
|
|
Name : |
Mr. Kharati Ram Puri |
|
Designation : |
Whole Time Director |
|
Address : |
50 Sunita, Cuffe Parade, Colaba, Mumbai – 400005, |
|
Date of Birth/Age : |
10.04.1926 |
|
Date of Appointment : |
01.07.2009 |
|
DIN No.: |
00015011 |
|
|
|
|
Name : |
Mr. Rajat Oberoi |
|
Designation : |
Whole Time Director |
|
Address : |
181-B, Jolly Maker Apartment, Cuffe Parade, Colaba, Mumbai – 400005, |
|
Date of Birth/Age : |
10.10.1972 |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
00014977 |
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|
|
|
Name : |
Mr. Nainesh Jaisingh |
|
Designation : |
Nominee Director |
|
Address : |
A 33, Meherina, 51 C, |
|
Date of Birth/Age : |
24.04.1967 |
|
Date of Appointment : |
01.10.2007 |
|
DIN No.: |
00061014 |
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|
|
|
Name : |
Mr. Mukul Nag |
|
Designation : |
Alternate Director |
|
Address: |
B-503 |
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Date of Birth/ Age: |
13.07.1970 |
|
Date of Appointment: |
30.07.2010 |
|
DIN No.: |
03168627 |
|
|
|
|
Name : |
Mr. Rajan Pyarelal Vahi |
|
Designation : |
Director |
|
Address : |
6, St. Helen’s Court, 18-A, |
|
Date of Birth/Age : |
13.03.1959 |
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Date of Appointment : |
11.08.2008 |
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|
Name : |
Mr. Dinesh Kumar |
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Designation : |
Director |
|
Address : |
21, 17th Cross Malleshwram Bangalore-560055, |
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Date of Birth/Age : |
02.12.1939 |
|
Date of Appointment : |
25.06.2009 |
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DIN No.: |
01133565 |
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|
|
Name : |
Mr. Dhiraj Vishwanath Poddar |
|
Designation : |
Alternate Director to Mr. Nainesh Jaisingh |
|
Address : |
3rd Floor, Standard Chartered Bank, Building No. 90, M G Road, Fort,
Mumbai – 400 001, Maharashtra, India |
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Date of Birth/Age : |
03.11.1974 |
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Date of Appointment : |
16.01.2008 |
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Date of Ceasing: |
15.07.2010 |
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|
|
|
Name : |
Mr. Sam Jal Amrolia |
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Designation : |
Whole Time Director |
|
Address : |
Dadar Paschim Apartment, |
|
Date of Birth/Age : |
04.11.1938 |
|
Date of Appointment : |
01.04.2009 |
|
Date of Ceasing: |
10.02.2011 |
|
DIN No.: |
00114407 |
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|
|
|
Name : |
Mr. Bhola Tandon |
|
Designation : |
Whole Time Director |
|
Address : |
5, Cunningham Cresent |
|
Date of Birth/Age : |
21.07.1952 |
|
Date of Appointment : |
01.04.2009 |
|
Date of Ceasing: |
10.02.2011 |
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DIN No.: |
00014965 |
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|
|
|
Name : |
Mr. Ramesh Chander Puri |
|
Designation : |
Whole Time Director |
|
Address : |
2201, |
|
Date of Birth/Age : |
06.11.1941 |
|
Date of Appointment : |
01.05.2005 |
|
Date of Ceasing: |
10.02.2011 |
|
DIN No.: |
00023830 |
|
|
|
|
Name : |
Mr. Sunil Kumar Khurana |
|
Designation : |
Whole Time Director |
|
Address : |
7, Bank Enclave, Laxmi Nagar, |
|
Date of Birth/Age : |
02.02.1947 |
|
Date of Appointment : |
01.09.2009 |
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Date of Ceasing: |
10.02.2011 |
|
DIN No.: |
00045503 |
KEY EXECUTIVES
|
Name : |
Ms. Kety Pilo Mistry |
|
Designation : |
Company Secretary |
|
Address : |
Kalpak Hormus, Flat No. 501, |
|
Date of Birth/Age : |
20.03.1956 |
|
Date of Appointment : |
01.05.1998 |
|
PAN No.: |
AHXPNM9896J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.07.2010
|
Names of Shareholders |
No. of Shares |
|
Naresh Chander Oberoi |
2745608 |
|
Kharati Ram Puri |
653680 |
|
Rajat Naresh Oberoi |
432006 |
|
Renu Sachin Mehra |
164000 |
|
Nedungadi B. T. |
44227 |
|
Naresh Oberoi – HUF |
84000 |
|
Bharat Naresh Oberoi |
464666 |
|
Sunil Kumar Khurana |
384 |
|
Standard Chartered Private Equity ( |
458857 |
|
Standard Chartered Private Equity ( |
152952 |
|
|
|
|
Total |
5200380 |
Equity Share Breakup (Percentage of Total
Equity)
As on 30.09.2010
|
Category |
|
Percentage of Holding |
|
|
|
|
|
Bodies
corporate |
|
11.76 |
|
Directors
or relatives of directors |
|
85.77 |
|
Other
|
|
2.47 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and marketing of Diesel Generator Sets, Control Panels,
Engines and Alternators. |
||||
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||||
|
Products : |
|
PRODUCTION STATUS as on 31.03.2009
|
Particulars |
|
|
Unit |
Actual
Production |
|
D.G. Sets |
|
|
Nos. |
7447 |
|
Control Panels |
|
|
Nos. |
6.958* |
Note: *Includes captive consumption of 6641 Nos.
GENERAL INFORMATION
|
Customers : |
·
Hindustan Copper Limited ·
Coca Cola ·
IBM ·
West Coast Paper Mills Limited ·
MRF
Limited ·
Reliance ( ·
Infosys ·
Wipro ·
Finolex ·
Oracle ·
Dell ·
Larsen Tubro ·
Hindustan Lever Limited ·
Aurbindo Pharma ·
|
|
|
|
|
Bankers : |
·
State Bank of ·
Citi Bank N.A., Bandra Kurla Complex, G-Block,
Bandra (East), Mumbai – 400 051, ·
BNP Paribas, French Bank Building, 62, ·
State Bank of ·
Standard Chartered Bank, Abhijeet II, Ground
Floor, Near Mithakali Six Roads, Ahmedabad-380006, Gujarat, India. ·
Canara
Bank, Mittal Tower, C Wing, Nariman Point, Mumbai-400021 |
|
|
|
|
Facilities : |
-- |
|
Financial Institution : |
·
Banque Nationale De Paris, ·
Hongkong and |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kapoor and Parekh Associates Chartered Accountants |
|
Address : |
|
|
Tel. No.: |
91-22-206 0787 / 206 3307 |
|
Fax No.: |
91-22-206 2828 |
|
E-Mail : |
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|
|
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Associates : |
|
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5200380 |
Equity Shares |
Rs.10/- each |
Rs.52.004
Millions |
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 |
52.004 |
52.004 |
52.004 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5933.385 |
5122.680 |
4401.623 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5985.388 |
5174.684 |
4453.627 |
|
|
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 |
428.891 |
61.646 |
23.154 |
|
|
|
|
|
|
|
|
TOTAL |
6414.280 |
5236.330 |
4476.781 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2928.668 |
1039.260 |
759.581 |
|
|
Capital work-in-progress |
56.467 |
84.394 |
235.605 |
|
|
|
|
|
|
|
|
INVESTMENT |
3302.081 |
3317.753 |
2840.035 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
537.628
|
867.327
|
782.377
|
|
|
Sundry Debtors |
1033.561
|
1140.835
|
1119.298
|
|
|
Cash & Bank Balances |
127.369
|
205.437
|
206.039
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1401.115
|
948.618
|
1017.540
|
|
Total
Current Assets |
3099.673
|
3162.217
|
3125.254
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1358.602
|
872.905
|
1043.515 |
|
|
Other Current Liabilities |
668.901
|
834.011
|
919.168
|
|
|
Provisions |
945.106
|
660.378
|
521.011
|
|
Total
Current Liabilities |
2972.609
|
2367.294
|
2483.694
|
|
|
Net Current Assets |
127.064
|
794.923
|
641.560
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6414.280 |
5236.330 |
4476.781 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8218.284 |
9141.754 |
8093.446 |
|
|
|
Other Income |
433.102 |
227.445 |
135.889 |
|
|
|
TOTAL |
8651.386 |
9369.199 |
8229.335 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material |
5860.775 |
6735.522 |
5688.380 |
|
|
|
Personnel expenses |
356.951 |
359.825 |
309.926 |
|
|
|
Manufacturing and other expenses |
775.609 |
913.073 |
869.466 |
|
|
|
TOTAL |
6993.335 |
8008.420 |
6867.772 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1658.051 |
1360.779 |
1361.563 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.427 |
0.301 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1658.051 |
1360.352 |
1361.262 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
233.726 |
133.095 |
78.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1424.325 |
1227.257 |
1282.774 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
369.853 |
354.097 |
236.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1053.472 |
873.160 |
1046.506 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3069.471 |
2435.732 |
1554.718 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
105.347 |
87.316 |
104.650 |
|
|
|
Interim Dividend |
208.015 |
130.010 |
52.004 |
|
|
|
Tax on Interim Dividend |
34.750 |
22.095 |
8.838 |
|
|
BALANCE CARRIED
TO THE B/S |
3774.831 |
3069.471 |
2435.732 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB value of – Exports |
6.409 |
39.612 |
56.513 |
|
|
|
Projects |
0.000 |
0.000 |
312.779 |
|
|
|
Deemed
Exports |
20.498 |
1512.264 |
1815.531 |
|
|
|
Freight and insurance |
0.280 |
0.520 |
2.555 |
|
|
|
Commission |
0.000 |
4.867 |
0.000 |
|
|
TOTAL EARNINGS |
27.187 |
1557.263 |
2187.378 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
89.613 |
385.782 |
225.923 |
|
|
|
Traded Goods |
95.786 |
61.108 |
85.814 |
|
|
|
Capital Goods |
53.006 |
0.000 |
9.957 |
|
|
TOTAL IMPORTS |
238.405 |
446.890 |
321.694 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
202.58 |
167.90 |
210.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
12.18
|
9.32
|
12.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.33
|
13.42
|
15.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.27
|
29.21
|
33.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.23
|
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.50
|
0.46
|
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
1.33
|
1.26 |
LOCAL AGENCY FURTHER INFORMATION
Note: The registered
office of the company has been shifted from 115-Mittal Court “B’” Wing, Nariman
Point, Mumabi-400021,
Operations:
Global Recession across the world has also impacted industrial organization
in
New Initiatives:
The company continued in its endeavor to provide clean, cheap and
abundant power through renewal sources of energy in the year. It had allocated
around Rs. 1900.000 Millions for setting up a Wind Projects in Kutch,
Clean Development Mechanism:
The company is in the process of earning Clean Development Mechanism
Revenue for its wind mill project in Thirunelveli in Tamilnadum and Kutch,
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U31100MH1984PLC032825 |
|
Name of the
company |
POWERICA LIMITED |
|
Address of the
registered office or of the principal place of business in |
74-A, Mittal Court, Nariman Point, Mumbai – 400 021, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six
Roads, Ahmedabad-380006, Gujarat, India. |
|
Nature of
instrument creating charge |
Unattested
Memorandum of Hypothecation |
|
Date of
instrument Creating the charge |
08.03.2010 |
|
Amount secured by
the charge |
Rs. 300.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Credit Facilities Interest/
commission – As Agreed by and with the Bank from time to time Terms of
Repayment As Agreed by and
with the Bank from time to time Margin As Agreed by and
with the Bank from time to time Extent and
Operation of the charge The Bank is
having firs pari passu charge on the security given by the company, as
described in Sr. No. 15 |
|
Short particulars
of the property charged |
Hypothecation by
way of first pari passu charge on a) All present and future book debts,
outstanding monies receivables, claims and bills b) All present and future stock in trade
consisting of raw materials, finished
goods and goods in process |
|
Name of the company |
POWERICA LIMITED |
|
Presented By |
Canara Bank,
Mittal Tower, C Wing, Nariman Point, Mumbai-400021 |
|
1) Date and description of instrument creating the change |
Common
hypothecation agreement dated 14th November, 2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.80.000
Millions |
|
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 |
All stocks of
goods such as raw materials goods in process, finished and manufactured goods
and other items of stock in trade and stores, spares, components, and all
other movable goods and properties of every description forming part of the
current assets of the borrower wherever situated whether at the borrowers
factories, places of business, residence (if applicable), godowns or in
transit or in the custody of processors, warehouse agents or others or
wherever else the same may be situated, lying or being including any such raw
materials, articles or goods, stores, spares, components, stock in trade and
all description of movable property in the course of delivery to the borrower
and all of the borrowers present and future book debts, outstanding moneys, bills
receivable, claims, bills, contracts securities, investments, cash, gold
silver, jewellery, rights and assets and rights relating to or in moveable
properties of the nature of current assets to which the borrower is entitled
to. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The above assets
are hypothecated by the company and charged in favour of Canara Bank, |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Mittal
Tower, C Wing, Nariman Point, Mumbai-400021, |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
Fixed assets
·
·
·
Building
·
·
Plant and Machinery
·
Wind Mill
·
Office Equipments
·
Furniture and Fixtures
·
Computer
·
Vehicles
·
Software
AS PER WEBSITE
Profile:
Subject is in the Business of Assembly, Sales and Service of Diesel, HFO
and Gas Power Plants for all sectors of economy for the last 28 years. They execute
900 MW (Cumulative) Captive/ Stand by/ Diesel Power Station every year.
They are an ISO 9001-2008 company and enjoy status of two star export house as
awarded by Govt. of India. On the basis of financial performance of mid sized
companies in
They are OEM for major engine manufacturer like Cummins India Limited
and alternator manufacture
The range of generators start from 15 KVA to 5000 KVA with installation
base covering railways, electricity boards, telecommunication and gas
exploration. It covers industries like IT Companies, Textile, Chemicals,
Construction, Infrastructure Projects etc.
Powerica works on principals of "A PROMISE FOR POWER"
and make sure to fulfill the commitment.
Business Scale: 2008/09
·
Annual commisioning : 900 MW
·
8000 units per annum
·
Manufacturing plants: 05
·
Offices in
·
Total Employees: 1200
·
Customer Base: >25,000
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.45.02 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.62.54 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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.