MIRA
INFORM REPORT
|
Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
ENTURA HYDRO TASMANIA INDIA PRIVATE LIMITED (w.e.f. 12.01.2011) |
|
|
|
|
Formerly Known
As : |
HYDRO TASMANIA CONSULTING INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
D-2, Second Floor, Mira Corporate Suites, Old Ishwar Nagar, New Delhi
- 110065 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.12.2006 |
|
|
|
|
Com. Reg. No.: |
55-156829 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.150.727
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140DL2006FTC156829 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH05880A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH7868P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is engaged in Providing Technical and Engineering
Services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears huge accumulated losses recorded by the company. However, trade relations
reported to be fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
D-2, Second Floor, Mira Corporate Suites, Old Ishwar Nagar, New Delhi
– 110065, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 23.09.2011
|
Name : |
Larry Grant Polglase |
|
Designation : |
Director |
|
Address : |
A-9 A/5 Vasant Vihar, New Delhi – 110056, India |
|
Date of Birth/Age : |
01.11.1949 |
|
Date of Appointment : |
20.12.2006 |
|
Passport No.: |
L9521509 |
|
DIN No.: |
00907555 |
|
|
|
|
Name : |
Lance Bradley Balcombe |
|
Designation : |
Director |
|
Address : |
8 Maning Avenue, Sandy Bay 7005, Australia |
|
Date of Birth/Age : |
01.09.1958 |
|
Date of Appointment : |
20.12.2006 |
|
Passport No.: |
E7546515 |
|
DIN No.: |
00972427 |
|
|
|
|
Name : |
Tammy Susanne Chu |
|
Designation : |
Director |
|
Address : |
353 Tranmere Road, Tranmere Tasmania, 7018, Australia |
|
Date of Birth/Age : |
16.05.1977 |
|
Date of Appointment : |
18.05.2011 |
|
DIN No.: |
03533563 |
KEY EXECUTIVES
|
Name : |
Mr. Vineet Kumar Sibal |
|
Designation : |
Secretary |
|
Address : |
139, Samaj Kalyan Apartments, Vikas Puri, New Delhi – 110018, India |
|
Date of Birth/Age : |
05.07.1965 |
|
Date of Appointment : |
21.01.2008 |
|
PAN No.: |
AAXPS1467J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 23.09.2011
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Hydro Electric Corporation, Tasmania, Australia |
|
1 |
|
Hydro Tasmania Consulting (Holding) Pty. Limited, Tasmania, Australia |
|
14674369 |
|
|
|
0 |
|
Total |
|
14674370 |
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Hydro Tasmania Consulting (Holding) Pty. Limited, Tasmania, Australia |
|
398349 |
|
|
|
|
|
Total |
|
398349 |
Equity Share Break up (Percentage of Total Equity)
As on: 23.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in Providing Technical and Engineering
Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vinod Kumar and Associates Chartered Accountants |
|
Address : |
503/504, Chiranjiv Tower, 43, Nehru Place, New Delhi – 110019, India |
|
PAN No.: |
AADFV0820A |
|
|
|
|
Ultimate Holding Company : |
Hydro Electric Corporation, Australia |
|
|
|
|
Holding Company : |
Hydro Tasmania Consulting (Holding) Pty. Limited,
Australia |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17601651 |
Equity Shares |
Rs.10/- each |
Rs.176.017 Millions |
|
398349 |
Preference Shares |
Rs.10/- each |
Rs.3.983 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.180.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14674370 |
Equity Shares |
Rs.10/- each |
Rs.146.744
Millions |
|
398349 |
Preference Shares |
Rs.10/- each |
Rs.3.983
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.150.727 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
150.727 |
97.085 |
52.500 |
|
|
2] Share Application Money |
0.000 |
39.700 |
12.398 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(96.666) |
(82.754) |
(57.250) |
|
|
NETWORTH |
54.061 |
54.031 |
7.648 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.061 |
54.031 |
7.648 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.147 |
7.810 |
6.678 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
23.398
|
22.067 |
0.606 |
|
|
Sundry Debtors |
23.069
|
17.615 |
21.278 |
|
|
Cash & Bank Balances |
8.151
|
43.252 |
1.860 |
|
|
Other Current Assets |
2.570
|
0.000 |
0.000 |
|
|
Loans & Advances |
24.603
|
16.626 |
13.404 |
|
Total
Current Assets |
81.791
|
99.560 |
37.148 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.435
|
44.281 |
30.754 |
|
|
Other Current Liabilities |
4.372
|
6.884 |
4.441 |
|
|
Provisions |
2.070
|
2.174 |
0.983 |
|
Total
Current Liabilities |
36.877
|
53.339 |
36.178 |
|
|
Net Current Assets |
44.914
|
46.221 |
0.970 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.061 |
54.031 |
7.648 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
39.563 |
33.481 |
|
|
|
Other Income |
|
0.000 |
0.029 |
|
|
|
TOTAL |
NA |
39.563 |
33.510 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personal and Administrative Expenses |
|
62.299 |
51.976 |
|
|
|
TOTAL |
|
62.299 |
51.976 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(22.736) |
(18.466) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
2.768 |
2.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(25.504) |
(20.666) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
1.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(25.504) |
(21.806) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
3.600 |
1.080 |
|
|
TOTAL EARNINGS |
|
3.600 |
1.080 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
NA |
(3.70) |
(5.88) |
|
|
|
Diluted
|
NA |
(3.31) |
(3.82) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
(64.46) |
(65.07) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
(64.46) |
(61.72) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(25.75) |
(47.15) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.47) |
(2.70) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.68 |
0.99 |
4.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22 |
1.87 |
1.03 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
The Registered Office of the company has been shifted from 12th Floor,
Eros Corporate Tower, Nehru Place, New Delhi – 110019, India to the present
address w.e.f. 29.11.2010
FIXED ASSETS:
·
Leasehold Improvement
·
Computers and Peripherals
·
Office Equipment
·
Vehicles
·
Furniture and Fixtures
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.55.34 |
|
|
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.