1. Summary Information
|
Reference
# |
135-291779-01-020(20110516840) |
Country |
|
|
Company Name |
SRAVANTHI
INFRATECH PRIVATE LIMITED |
Principal Name 1 |
Mr. Venkateshwara Rao Dandamudi |
|
Status |
Recently
Commenced Business |
Principal Name 2 |
Mr. Shanti Kiran Dandamudi |
|
Our Reference # |
142563 |
Registration # |
038922 |
|
Street Address |
3rd
Floor, Rider House, 136, Sector 44, Gurgaon – 122002, Haryana |
||
|
Established Date |
26.03.2009 |
SIC Code |
-- |
|
Telephone# |
91-124-4787000/01/02/03 |
Business Style 1 |
Construction |
|
Fax # |
91-124-4787004 |
Business Style 2 |
--- |
|
Homepage |
Product Name 1 |
--- |
|
|
# of employees |
--- |
Product Name 2 |
--- |
|
Paid up capital |
Rs.90.630 Millions (As on 12.08.2010) Rs.0.100 Million (As on 31.03.2010) |
Product Name 3 |
--- |
|
Shareholders |
Directors – 100% |
Banking |
Axis Bank
Limited |
|
Public Limited Corp. |
NO |
Business Period |
2 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ca
(12) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
|
Sravanthi Energy Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
543,834,000 |
Current Liabilities |
178,309,000 |
|
Inventories |
1,875,000 |
Long-term Liabilities |
360,000,000
|
|
Fixed Assets |
564,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
538,309,000 |
|
Invest& other Assets |
236,000 |
Retained Earnings |
0 |
|
|
|
Net Worth |
8,200,000 |
|
Total Assets |
546,509,000 |
Total Liab. & Equity |
546,509,000 |
|
Total Assets (Previous Year) |
0 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
0 |
Net Profit |
165,000 |
|
Sales(Previous yr) |
0 |
Net Profit(Prev.yr) |
0 |
MIRA INFORM
REPORT
|
Report Date : |
19.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
SRAVANTHI INFRATECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Rider House, 136, Sector 44, Gurgaon – 122002,
Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
26.03.2009 |
|
|
|
|
Com. Reg. No.: |
038922 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.90.630 Millions (As on 12.08.2010) Rs.0.100 Million
(As on 31.03.2010) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45206HR2009PTC038922 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKS12907G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS9448R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction Activities. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Recently Commenced Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company and started its operation this year only.
Business is active. Payment terms are
not known. The company can be considered for business dealings on a secured 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
Not able to contact the company
LOCATIONS
|
Registered Office : |
3rd Floor, Rider House, 136, Sector 44, Gurgaon – 122002, |
|
Tel. No.: |
91-124-4787000/01/02/03 |
|
Fax No.: |
91-124-4787004 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 12.08.2010
|
Name : |
Mr. Venkateshwara Rao Dandamudi |
|
Designation : |
Director |
|
Address : |
B-1/17, D L F City Phase – 1, Gurgaon – 122001, |
|
Date of Birth/Age : |
01.06.1965 |
|
Date of Appointment : |
26.03.2009 |
|
|
|
|
Name : |
Mr. Shanti Kiran Dandamudi |
|
Designation : |
Director |
|
Address : |
B-1/17, D L F City Phase – 1, Gurgaon – 122001, |
|
Date of Birth/Age : |
22.11.1969 |
|
Date of Appointment : |
26.03.2009 |
|
|
|
|
Name : |
Mr. Mettipalle Chandrasekharan |
|
Designation : |
Director |
|
Address : |
3A, GH3, Orchid Garden, Suncity Sector -54, Gurgaon – 122002, Haryana,
India |
|
Date of Birth/Age : |
21.06.1968 |
|
Date of Appointment : |
30.10.2009 |
|
|
|
|
Name : |
Mr. Madan Mohan Kanderi |
|
Designation : |
Director |
|
Address : |
F-1, AGP Sivaniyam, W-811, Syndicate Bank Colony, Anna Nagar, Wesr
Extn, Chennai – 600101, |
|
Date of Birth/Age : |
03.07.1965 |
|
Date of Appointment : |
31.12.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Venkateshwara Rao Dandamudi |
|
5000 |
|
Shanti Kiran Dandamudi |
|
5000 |
|
Total |
|
10000 |
AS ON 12.08.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activities. |
GENERAL INFORMATION
|
Bankers : |
Axis Bank Limited, SCO-29, Sector-14, |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
--
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manohar Chowdhry and Associates Chartered Accountant |
|
Address : |
A-19, PWO Housing Complex, Sector – 43, Gurgaon – 122001, |
|
Tel No.: |
91-124-4044821 |
|
Fax No.: |
91-124-4044821 |
|
Website : |
|
|
|
|
|
Associates: |
|
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 |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
As on 12.08.2010
Authorised Capital: Rs. 250.000 Millions
Paid-up Capital: Rs. 90.630 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
8.100 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
8.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
360.000 |
|
|
TOTAL BORROWING |
|
|
360.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
368.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.564 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1.875 |
|
|
Sundry Debtors |
|
|
18.363 |
|
|
Cash & Bank Balances |
|
|
4.050 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
521.421 |
|
Total
Current Assets |
|
|
545.709 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.232 |
|
|
Other Current Liabilities |
|
|
174.946 |
|
|
Provisions |
|
|
2.131 |
|
Total
Current Liabilities |
|
|
178.309 |
|
|
Net Current Assets |
|
|
367.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.236 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
368.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
NA |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL (A) |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1.288 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
1.228 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
|
1.063 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
|
0.165 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(0.236) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
16.50 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
65.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
3.06 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company has been shifted from B - 1
/17,
SUNDRY CREDITORS
DETAILS:
|
PARTICULARS |
|
|
Rs.
In Millions 31.03.2010 |
|
Sundry Creditors |
|
|
|
|
- Dues to Micro, Small and Medium enterprises |
|
|
0.000 |
|
- Dues to Others |
|
|
1.232 |
OPERATIONS
The Company was incorporated with objective to provide Engineering, Procurement and Construction (EPC) services to Power Projects.
The EPC works to the extent of Rs.6780.000 Millions and Infrastructural works to the extent of 50.000 Millions have been awarded by Sravanthi Energy Private Limited for their 225 MW Combined Cycle Gas based Power Plant at Kashipur, Uttarakhand.
The Civil Piling works for gas turbine and other main plant buildings have been completed. Turnkey Contract of civil, structural, tunnels and other works, to the extent of Rs.190.000 Millions, have been awarded by Door Sanchar Hydro Power Private Limited for their 2x2.5 MW Small Hydro Electric Project at Sangla, Himachal Pradesh.
Escavation of Power House, penstock, forebay and trenchware (left bank) has been completed. Fabrication of 110 Tonnes of penstock has also been done. Further, 22KV Transmission Line for power evacuation has been completed.
In addition, all the site infrastructure works including roads, administrative office, construction power etc. of both the projects have been completed.
Form 8:
|
Corporate
identity number of the company |
U45206HR2009PTC038922 |
|
Name of the
company |
SRAVANTHI
INFRATECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3rd Floor, Rider House, 136, Sector 44, Gurgaon – 122002, |
|
This form is for |
Creation of
charge Modification of
charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
AXIS BANK LIMITED |
|
Nature of instrument
creating charge |
Deed of
Guarantee. |
|
Date of
instrument Creating the charge |
04/09/2010 |
|
Amount secured by
the charge |
Rs.2000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As Per Sanction
Letter No. Axisb/Co/Lc/Kb/13818 Dated 20.08.2010 To Be Amended From Time To
Time. Extent and
Operation of the charge Extent and
Operation - 100% Others The Above Is To
Secure The Letter Of Credit (Lc) / Sblc Limit And Lou To Avail Buyer's Credit
As A Sub-Limit To The Term Loan Granted By The Bank To M/S Sravanthi Energy
Private Limited . |
|
Short particulars
of the property charged |
Corporate
Guarantee Of The Company. |
FIXED ASSETS:
- Computers
- Electrical Appliances
- Office
Equipments
- Furniture and
Fixtures
- Plant and
Machinery
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 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.45.08 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.30 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
12 |
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.