MIRA
INFORM REPORT
|
Report Date : |
21.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
NSL RENEWABLE POWER PRIVATE LIMITED (w.e.f 16.06.2010) |
|
|
|
|
Formerly Known
As : |
NUZIVEEDU SEEDS PRIVATE
LIMITED (w.e.f. 26.06.2008) NUZIVEEDU SEEDS LIMITED |
|
|
|
|
Registered
Office : |
Flat No.905, 9th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.01.1985 |
|
|
|
|
Com. Reg. No.: |
55-114839 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.500.011
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40109DL1985PTC114839 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELN05294C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN6009L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is
in the business of generation of power and other infrastructure activities
related to business of generation of power. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5283000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject belongs
to NSL Group. It is a subsidiary of NSL Energy Ventures Private Limited
(NEVPL) with effect from 31.03.2011. It is an
established company having satisfactory track. There appears a tremendous dip
in the reserves, sales and profitability during the year 2011. However, trade
relations are reported as decent. Business is active. Payments are reported
to be usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. Note: ‘Nuziveedu Seeds Private Limited’ has changed its name to ‘NSL
Renewable Power Private Limited’ with effect from 16.06.2010. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.09.2011) |
Current Rating (31.12.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Agency Name |
Rating |
|
CARE |
BB |
Rating Explanations
|
AAA (Highest Safety) |
Instruments with this
rating are considered to have the highest degree of safety regarding timely servicing
of financial obligations. Such instruments carry lowest credit risk. |
|
AA (High Safety) |
Instruments with this
rating are considered to have high degree of safety regarding timely
servicing of financial obligations. Such instruments carry very low credit
risk. |
|
A (Adequate Safety) |
Instruments with this
rating are considered to have adequate degree of safety regarding timely
servicing of financial obligations. Such instruments carry low credit risk. |
|
BBB (Moderate Safety) |
Instruments with this
rating are considered to have moderate degree of safety regarding timely
servicing of financial obligations. Such instruments carry moderate credit
risk. |
|
BB (Moderate Risk) |
Instruments with this rating
are considered to have moderate risk of default regarding timely servicing of
financial obligations. |
|
B (High Risk) |
Instruments with this
rating are considered to have high risk of default regarding timely servicing
of financial obligations. |
|
C (Very High Risk) |
Instruments with this
rating are considered to have very high risk of default regarding timely
servicing of financial obligations. |
|
D (Default) |
Instruments with this
rating are in default or are expected to be in default soon. |
LOCATIONS
|
Registered Office : |
Flat No.905, 9th Floor, |
|
Tel. No.: |
91-11-23766237/ 38/ 40/ 30514444/ 51512676 |
|
Fax No.: |
91-11-23766240/ 41 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Survey No.69, Kandlakoya, Medchal Mandal, |
|
Tel. No.: |
91-8418-308888/ 23792048/ 308800 |
|
Fax No.: |
91-8418-308892 |
|
|
|
|
NSL Group Office : |
NSL Icon, Road No.12, Banjara
Hills, |
|
Tel. No.: |
91-40-30514444 |
|
Fax No.: |
91-40-23327919 |
|
|
|
|
R.O. and Processing Plant : |
Plot No.J-48, MIDC, Phase III, |
|
|
|
|
|
No.557, Near |
|
|
|
|
Branch Office : |
Located
at: v
v
Jaipur
v
Hissar v
v
v
Ahmedabad
v
Rangareddy
v
v
Davanagere
v
Odhisha
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mandava Prabhakar Rao |
|
Designation : |
Director |
|
Address : |
H. No.8-2-293/82/A, Plot No.543, Road No.26, Jubilee Hills, |
|
Date of Birth/Age : |
19.01.1959 |
|
Date of Appointment : |
04.01.1985 |
|
DIN No.: |
000009650 |
|
|
|
|
Name : |
Mr. Kommalapati Rama Koteswara Rao |
|
Designation : |
Director |
|
Address : |
5-9-22/40, Flat
No.301, MCH No.314, JVR Amrit Enclave, Opposite New MLA Quarters, Adarsh
Nagar, |
|
Date of Birth/Age : |
12.11.1956 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
00014649 |
|
|
|
|
Name : |
Mr. Narasimharamulu Pantam |
|
Designation : |
Director |
|
Address : |
Plot No.402, 4th Floor, Grand Residency |
|
Date of Birth/Age : |
25.07.1945 |
|
Date of Appointment : |
31.10.2008 |
|
DIN No.: |
00064196 |
|
|
|
|
Name : |
Mr. Gopalakirshna Narayana Swamy Muddusetty |
|
Designation : |
Director |
|
Address : |
12-2-823A/23,
Santosh Nagar, Mehdipatnam, |
|
Date of Birth/Age : |
12.01.1939 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
00088454 |
|
|
|
|
Name : |
Mr. Manmohan Vedprakash Agarwal |
|
Designation : |
Director |
|
Address : |
Flat No.101, |
|
Date of Birth/Age : |
04.08.1950 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
00681433 |
|
|
|
|
Name : |
Mr. Mahesh Bhandari |
|
Designation : |
Director |
|
Address : |
502, Aadeshwar Apartments, Sayani Marg,
Prabha Devi, Mumbai – 400 025, |
|
Date of Appointment : |
21.12.2010 |
|
DIN No.: |
01115263 |
|
|
|
|
Name : |
Mrs. Mandava Asha Priya |
|
Designation : |
Director |
|
Address : |
H. No.8-2-293/82/A, Plot No.543, Road No.26, Jubilee Hills, |
|
Date of Birth/Age : |
19.09.1961 |
|
Date of Appointment : |
18.10.1997 |
|
DIN No.: |
01199936 |
|
|
|
|
Name : |
Mr. Anand Prakash |
|
Designation : |
Director |
|
Address : |
9, Tanjong, |
|
Date of Appointment : |
17.09.2011 |
|
DIN No.: |
01928443 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
M. Prabhakar Rao |
|
16129850 |
|
M. Asha Priya |
|
3733353 |
|
M. Srinivas Rao |
|
1200 |
|
M.V.R. Chowdary |
|
136712 |
|
NSL Energy Ventures Private Limited, |
|
32057500 |
|
|
|
7431587 |
|
Total
|
|
59490202 |
As on 31.03.2012
|
Names of Allottee |
|
No. of Shares |
|
International Finance Corporation, |
|
1383440 |
|
Total
|
|
1383440 |
As on 19.03.2012
|
Names of Allottees |
|
No. of Shares |
|
|
|
5464645 |
|
NSL Energy Ventures Private Limited, |
|
2372951 |
|
Total
|
|
7837596 |
As on 16.12.2011
|
Names of Allottee |
|
No. of Shares |
|
International Finance Corporation, |
|
4296000 |
|
Total
|
|
4296000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
12.49 |
|
Bodies
corporate |
|
53.89 |
|
Directors
or relatives of directors |
|
33.62 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
in the business of generation of power and other infrastructure activities
related to business of generation of power. |
||||||||
|
|
|
||||||||
|
Products/ Services : |
v Cotton v Sorghum v Corn v Sunflower v Pearl millet v Rice v Vegetables v Soybean v Wheat |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
a. Seed - Processed # |
|
|
|
|
- Field crops |
Tons |
-- |
-- |
|
- Cotton |
Tons |
-- |
-- |
|
b. Power Generation |
|
73.00MW |
202664309 units |
# transferred pursuant to the scheme of demerger.
GENERAL INFORMATION
|
No. of Employees |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v Andhra Bank v
Axis Bank Limited, Corporate Banking Branch,
6-3-879/B, 1st Floor, G. Pulla Reddy Building, Greenlands, v
Bank of v
ICICI Bank Limited, v Indian Overseas Bank v
State Bank of v
State Bank of v
State Bank of v Yes Bank v
Canara Bank, Corporate Services Branch No.25 |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Notes: a. Term loans
are secured by Term loans are
secured by mortgage and charge of entire immovable properties pertaining to
the projects (present and future). First charge by way
of hypothecation on movable properties including inventories and other
current assets of the Company. Pledge of
13000290 shares held by M. Prabhakar Rao in the equity capital of the Company
Personal guarantees given by promoter Directors Rs.2753.824 millions
(Previous Year – Rs.5001.508
millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Infrastructure Development
Finance Company Limited , |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
Oval Office, 18, ilabs Centre, |
|
Tel. No.: |
91-40-67362000 |
|
Fax No.: |
91-40-67362200 |
|
Income-tax
PAN of auditor or auditor's firm : |
ABSFS4151K |
|
|
|
|
Holding Company : |
NSL Energy
Ventures Private Limited (CIN No.: U40101AP2008PTC057010) |
|
|
|
|
Joint Ventures : |
v Divyasree NSL
Infrastructure Private Limited (The status has been modified w.e.f., April
01, 2010 pursuant to scheme of demerger.) v Cozy Properties
Private Limited |
|
|
|
|
Subsidiaries : |
v
NSL Power Private Limited (CIN No.: U63023AP2003PTC040654) v
NSL Masli Power Generation Private Limited (CIN
No.: U40108HP2008PTC030878) v
NSL Tidong Power Generation Private Limited (CIN
No.: U40108HP2008PTC030877) v
NSL Wind Power Company (Gubbi-Tumkur) Private
Limited (CIN No.: U40108AP2008PTC060017) v
NSL Wind Power Company (Sira-Tumkur) Private
Limited (CIN No.: U40108AP2008PTC060015) v
NSL Wind Power Company (Holalkere-Chitradurga)
Private Limited (CIN No.: U40108AP2008PTC060018) v
Indur Green Power Private Limited (CIN No.: U40109AP2001PTC037830) v
Perpetual Energy Systems Limited (CIN No.: U99999AP1995PLC020845) v
Celebrity Power Company Private Limited (CIN No.: U45400AP2007PTC054032) v
Tangnu Romai Power Generation Private Limited
(CIN No.: U40100CH2005PTC027868) v
NSL Wind Power Company (Satara) Private Limited
(CIN No.: U40108AP2010PTC069059) v
NSL Wind Power Company (Phoolwadi) Private
Limited (CIN No.: U40300AP2005PTC047541)
v
Mandava Holdings Private Limited v
NSL Energy Ventures Private Limited v
NSL Global Energy Ventures Private Limited ( v
NSL Wind Energy (Limited Liability Partnership) |
|
|
|
|
Fellow
Subsidiaries : |
v Nuziveedu Seeds
Private Limited (formerly NSL Seeds Private Limited) v NSL Sugars Limited v NSL Textiles
Limited v Regen Powertech
Private Limited v NSL Conventional
Power Private Limited v NSL Andhra Power
Private Limited v NSL Infratech
Private Limited v Midas Projects
Private Limited v NSL Estates
Private Limited v NSL Cotton
Corporation Private Limited v NSL textiles
(Edlapadu) Limited v Garden City
Avenues Private Limited v Ascendant
Estates Private Limited v Golden Tower
Infratech Private Limited v NSL Nagapatnam
Power and Infratech Private Limited v NSL Orissa Power
and Infratech Private Limited (NSL Nagapatnam Power Company Private Limited) v v Pravardhan Seeds
Private Limited v Yaaganti Seeds
Private Limited v Prabhat Agri
Biotech Limited v Jubilee Real
Projects ( v NCC Matoshri
Cotton Private Limited v NSL Power
Equipment Trading Private Limited |
|
|
|
|
Other Related Parties : |
v Divyasree NSL
Infrastructure Private Limited v NSL Properties
Private Limited v Mandava Cold
Storage v Private Limited,
Excel Cotton Company Private Limited v Mandava
Foundation v Global
Agrigenetics India Private Limited v Sree Kamadhenu
Aquatech Private Limited |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.750.000 millions
Issued, Subscribed & Paid-up Capital : Rs.730.072
millions
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
59490202 |
Equity Shares |
Rs.10/- each |
Rs.594.902
millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50002000 |
Equity Shares |
Rs.10/- each |
Rs.500.020 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50001115 |
Equity Shares |
Rs.10/- each |
Rs.500.011
millions |
|
|
|
|
|
Notes:
Of the above equity shares –
a. 18000000 shares are allotted as fully paid bonus
shares by capitalization of General Reserve
b. 30000000 shares are held by NSL Energy
Ventures Private Limited, the Holding Company.
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 |
500.011 |
200.011 |
200.011 |
|
|
2] Share Application Money |
55.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
765.615 |
5677.922 |
5063.954 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1320.626 |
5877.933 |
5263.965 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4033.366 |
8847.089 |
5499.974 |
|
|
2] Unsecured Loans |
384.447 |
3.778 |
3.778 |
|
|
TOTAL BORROWING |
4417.813 |
8850.867 |
5503.752 |
|
|
DEFERRED TAX LIABILITIES |
178.595 |
200.402 |
261.681 |
|
|
|
|
|
|
|
|
TOTAL |
5917.034 |
14929.202 |
11029.398 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2400.537 |
5221.618 |
4173.594 |
|
|
Capital work-in-progress (including capital advances) |
1806.146 |
1619.387 |
975.541 |
|
|
|
|
|
|
|
|
INVESTMENT |
1329.556 |
3323.497 |
1138.744 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.510
|
1858.600
|
1521.881
|
|
|
Sundry Debtors |
109.220
|
306.277
|
259.868
|
|
|
Cash & Bank Balances |
26.494
|
125.697
|
323.958
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
397.071
|
6497.828
|
6895.902
|
|
Total
Current Assets |
545.295
|
8788.402
|
9001.609
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
127.342
|
585.475
|
724.232
|
|
|
Other Current Liabilities |
47.803
|
3408.524
|
3532.820
|
|
|
Provisions |
2.925
|
29.703
|
3.038
|
|
Total
Current Liabilities |
178.070
|
4023.702
|
4260.090
|
|
|
Net Current Assets |
367.225
|
4764.700
|
4741.519
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
10.570 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5914.034 |
14929.202 |
11029.398 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
677.222 |
6140.798 |
5510.595 |
|
|
|
Other Income |
31.682 |
429.482 |
203.609 |
|
|
|
TOTAL (A) |
708.904 |
6570.280 |
5714.204 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
0.000 |
|
3184.505 |
|
|
|
Personnel Expenses |
18.423 |
268.583 |
|
|
|
|
Research and Development Expenses |
0.000 |
115.557 |
|
|
|
|
Operating and Administrative Expenses |
102.259 |
1001.506 |
|
|
|
|
Royalty on Sales |
0.000 |
964.088 |
|
|
|
|
Miscellaneous Expenditure written off |
0.504 |
0.000 |
|
|
|
|
TOTAL (B) |
121.186 |
4140.757 |
3184.505 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
587.718 |
2429.523 |
2529.699 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
341.334 |
1297.179 |
797.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
246.384 |
1132.344 |
1732.668 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
224.737 |
409.772 |
413.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
21.647 |
722.572 |
1319.281 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(20.755) |
108.632 |
144.047 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
42.402 |
613.940 |
1175.234 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3089.712 |
2475.772 |
1441.936 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred pursuant to scheme of
arrangement |
2650.561 |
0.000 |
0.000 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
20.001 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
3.399 |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
118.000 |
|
|
BALANCE CARRIED
TO THE B/S |
481.551 |
3089.712 |
2475.770 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
1.095 |
175.258 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
0.000 |
86.918 |
36.555 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.10 |
30.69 |
58.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.98 |
9.34 |
20.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.20 |
11.77 |
23.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.73 |
5.16 |
9.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.12 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.48 |
2.19 |
1.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.06 |
2.18 |
2.11 |
LOCAL AGENCY FURTHER INFORMATION
|
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 three years |
Yes |
|
12) Profitability
for last three 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 |
NATURE OF OPERATIONS
The Company' is a subsidiary
of NSL Energy Ventures Private Limited with effect from March 28, 2011. The
Company is in the business of generation of power and other infrastructure
activities related to business of generation of power.
PROJECT DETAILS
During the year,
two machines of Regen make 1500KW capacity each and four machines of Suzlon
Make 2100 KW capacity each were commissioned at Bhimasamundra Wind Farm,
Chitradurga District, Karnatak; with this wind farm division has a total of
74machines with a capacity of 97.9 MW.
The erection and
commissioning of 33 machines of Regen make 1500KW capacity each are in progress
in Phoolwadi, Trirupur District, Tamilnadu. There by taking the total capacity
of wind power to 147.4 MW by October 2011.
The Company has commenced
implementation of Hydo Electric Projects in Himachal Pradesh for a total
capacity of 155MW viz NSL Tidong (100MW). Tangnu Romai-I (44 MW), Tangnu Romai
– II (6MW) and Masli SHP (5MW).The financial closure for all these projects as
achieved before the year under the review.
The Company also
commenced pre-developmental activities in realtion to the Wind Power projects
totaling upto 370MW, which are being implemented in various SPV’s. These
projects will be executed over 3years in a phased manner starting from the
financial year 2011-12
HOLDING COMPANY
During the period
the Company has become the subsidiary of NSL Energy Ventures Private Limited
(NEVPL) with effect from 31st March 2011.
CHANGE IN CAPITAL
STRUCTURE
AUTHORISED SHARE CAPITAL:
During the period,
the Company has increased the authorized share capital from Rs.300.000 millions
divided into 30000000 shares of Rs.10/- to Rs.750.000 millions divided into
75,000,000 Equity of Rs.10 each;
ISSUED SHARE CAPITAL:
During the period,
the company has issued/allotted 39489087 equity shares of face value Rs.10.
PAID-UP SHARE CAPITAL:
The present paid
up capital of the Company is Rs. 594.902 millions.
SCHEME OF ARRANGEMENT FOR DEMERGER
The Company has
filed a Scheme of Arrangement for demerger (the 'Scheme') pursuant to the
provisions under Section 391 to Section 394 of the Companies Act, 1956 with
Hon'ble High Court of Judicature at
As per the Scheme,
with effect from April 01, 2008 ('Appointed Date'), Seed, Real Estate and
Investment, IT Infrastructure, Chennai SEZ, Gurgaon SEZ undertaking I businesses
of the Company are proposed to be transferred to resulting companies viz., NSL
Seeds Private Limited, Mandava Holdings Private Limited, NSL Properties Private
Limited, NSL SEZ (Chennai) Private Limited and Ascendant Estates Private
Limited respectively. Pending approval of the Scheme at Hon'ble High Court, no
effect has been given in the financial statements of the Company till March 31,
2010.
During the year,
the Company has filed a petition with Hon'ble High court of Judicature at
As per the Scheme with effect from appointed date April 1, 2010, Seed,
Real estate and Investment, IT infrastructure, Chennai SEZ, Gurgaon SEZ
undertakings 1 businesses of the Company are transferred to
resulting companies viz., NSL Seeds Private Limited (now known as Nuziveedu
Seeds Private Limited), Mandava Holdings Private Limited, NSL Properties
Private Limited, NSL SEZ (Chennai) Private Limited and Ascendant Estates
Private Limited respectively.
Net assets of various businesses transferred to resultant companies have
resulted change in the Reserves and Surplus of the Company as at April 1, 2010
as given below:
|
Particulars |
Amount (Rs. in
millions) |
|
Reserves and
Surplus as at April 1,2010 |
5677.922 |
|
|
|
|
Less: Net assets transferred to resulting
companies |
|
|
Nuziveedu Seeds
Private Limited |
(4684.241) |
|
Mandava Holdings
Private Limited |
8868.165 |
|
NSL Properties
Private Limited |
628.629 |
|
NSL (SEZ)
Chennai Private Limited |
105.793 |
|
Ascendant Estates Private Limited |
36.364 |
|
|
|
|
Reserves and Surplus as at April 1, 2010 after
demerger |
723.212 |
Contingent
Liabilities not provided for:
|
Particulars |
31.03.2011 (Rs. in
millions) |
31.03.2010 (Rs. in
millions) |
|
Claims against the company not acknowledged as debts |
12.227 |
26.934 |
|
Outstanding Bank Guarantees |
6.500 |
606.753 |
|
Corporate guarantee given |
4767.500 |
5172.500 |
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U40109DL1985PTC114839 |
|
Name of the
company |
NSL RENEWABLE POWER PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No.905, 9th Floor, E-Mail: cs@nslpower.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank Limited, Corporate Banking Branch, 6-3-879/B, 1st
Floor, G. Pulla Reddy Building, Greenlands, E-Mail: n.bapiraju@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
1) Deed of
hypothecation of machinery and other movable fixed assets 2) Sanction for
letter of credit limits of Rs.500.000 millions 3) General
undertaking / indemnity for letters of credit |
|
Date of
instrument Creating the charge |
14.02.2012 |
|
Amount secured by
the charge |
Rs.500.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Commission/
charges: 1.25% p.a. rounded off to number of months plus applicable taxes,
payable upfront Terms of
Repayment: On demand Margin: 40% cash margin Extent and
Operation of the charge: As per the terms
of sanction for letter of credit/buyers credit limits |
|
Short particulars
of the property charged |
NSL Renewable
Power Private Limited (NRPPL) is the co-obliger for Rs.500.000 millions
for purchase/ import of capital goods,
can be opened by joint ventures/ group/ associate company of NRPPL from Axis
Bank. |
FIXED ASSETS:
Tangible Assets:
v
v
v Buildings
v Plant and Machinery
v Furniture and Fittings
v Office Equipment
v Data Processing Equipment
v Vehicles
v Livestock
Intangible Assets
v Trade Marks
WEBSITE DETAILS:
TRANSACTION CLOSURE: CAPITAL RAISE OF USD 40 MILLION FOR NSL RENEWABLE
POWER PRIVATE LIMITED
We have successfully completed a significant Private Equity fund raise in the
renewable power sector - INR 1,800 million (USD$ 40 million) raised for NSL
Renewable Power Private Limited (“NRPPL”) from FE Clean Asia (“FE Clean”).
NSL Renewable Power Private Limited (NRPPL), part of the
NRPPL has about 162 MW of wind and biomass energy assets operational and
another 155 MW of hydro assets under implementation. The company also has over
700 MW of wind power projects under development. NSL Renewable Power, which was
demerged from the group’s flagship Nuziveedu Seeds Ltd, plans to build a
capacity of over 1000 MW by 2015. The company has recently entered into solar
power generation and is currently constructing a 20 MW solar power project in
The funds raised will be used to meet equity commitments for the wind, hydro
and solar power project pipeline.
As the advisors for NRPPL, our team played an important role in evolving and
executing the transaction to meet the objectives of both the company and the
investor.
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.55.15 |
|
|
1 |
Rs.86.57 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.