MIRA INFORM REPORT

 

 

Report Date :

16.11.2012

 

IDENTIFICATION DETAILS

 

Name :

ALSTOM T AND D INDIA LIMITED (w.e.f. 31.01.2012)

 

 

Formerly Known As :

AREVA T & D INDIA LIMITED

 

ALSTOM LIMITED

 

 

Registered Office :

A-18, First Floor, okhla industrial Area, Phase II, New Delhi - 110 020

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

13.03.1957

 

 

Com. Reg. No.:

21-193993

 

 

Capital Investment / Paid-up Capital :

Rs.478.208 Millions

 

 

CIN No.:

[Company Identification No.]

L31102DL1957PLC0193993

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufactures and supplies a complete range of equipment, systems and services for all stages in the transfer of electricity, from the generator to the large end-user backed by a comprehensive services portfolio.

 

 

No. of Employees :

3597 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (67)

 

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

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of Grid Equipments Limited, India. It is a well established and reputed company having fine track.

 

Trade relations are reported as trustworthy. Business is active. Payments are reported to be regular and as per commitments.

 

The company can be considered good for business dealings at usual trade terms and conditions.   

 

 

NOTES:

 

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – 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

 

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

 

 

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 :

A-18, First Floor, okhla industrial Area, Phase II, New Delhi - 110 020

Tel. No.:

91-11-47629100

Fax No.:

91-11-47629129 / 30

E-Mail :

ashokkumar@areva-ltd.com

manojprasad.singh@alstom.com 

Website:

www.alstom.com

 

 

Head Office / Regional Office 1 :

457, Anna Salai, Teynampet, Chennai – 600018, Tamilnadu, India

 

 

Regional Office 2 :

D-2 Gillander House, Netaji Subhas Road, Kolkata – 700001, West Bengal, India

 

 

Regional Office 3 :

Narottam Morarji Marg, Ballard Estate, Mumbai – 400038, Maharashtra, India

 

 

Branch Office  :

A-7, Sector – 65, Noida, Uttar Pradesh – 201 301, India

Tel. No.:

91-120-2405421/ 22/ 23 / 4790000

Fax No.:

91-120-2405439/ 40 / 4791140

 

 

Factory 1 :

Plot No.46, SIPCOT Industrial Works, Hosur – 635 126, Tamilnadu, India

 

 

Factory 2 :

P. O. Naini, Allahabad – 211 008, Uttar Pradesh, India

Tel No.:

91-532-2697422 / 424

Fax No.:

91-532-2697604

 

 

Factory 4 :

Plot No. 142, Salamangalam Village, Padappai, Sriperumbudur T.K., Kancheepuram 601 301, Tamilnadu, India

 

 

Factory 5 :

19/1, GST Road, Pallavaram, Chennai – 600 043, Tamilnadu, India

Tel. No.:

91-44-22368621 / 8723 / 8917 / 22640033 / 37

Fax No.:

91-44-22367276 / 22640040

 

 

Factory 6 :

Kotambi Village, Vadodara – Halol Highway, Milestone No.87, Taluka Waghodia, Vadodara – 391 510, Gujarat, India

 

 

Factory 7 :

1,Taratala Road, Kolkata - 700024, West Bengal, India

 

 

Factory 8 :

Salt Lake Works, Block BN, Sector V, Kolkata – 700091, West Bengal, India

 

 

Factory 9 :

No.119/120, Electrical and Electronics Industrial Estate, Perungudi, Chennai – 600096, Tamilnadu, India

 

 

Factory 10 :

27th KM, Belary Road, Doddajala Post, Bangalore – 562157, Karnataka, India

 

 

Factory 11 :

RS 38/2, Sedarapet Main Road, Sedarpet Village, Pondicherry – 605111, India

 

 

Factory 12 :

A 88, Sector 57, Noida – 201301, Uttar Pradesh, India

 

 

DIRECTORS

 

AS ON 31.03.2012

 

Name :

T.S. Vishwanath

Designation :

Chairman (w.e.f. 04.02.2011)

 

 

Name :

Mr. Rathindra Nath Basu

Designation :

Managing Director

Address :

C-302, Pearls Gateway Tower, Plot No. D 8 A, Sector 44, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

13.07.1954

Date of Appointment :

01.02.2007

Voter ID No.:

AAFPB7016C

DIN No :

01192973

 

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

L31102DL1957PLC193993

ALSTOM T AND D INDIA LIMITED

Managing director

01/02/2012

01/02/2007

-

Active

NO

2

U93090TN1983PTC010395

AREVA T AND D LIGHTNING ARRESTERS PRIVATE LIMITED

Director

13/04/2007

13/04/2007

-

Amalgamated

NO

3

U40108DL2004PLC125470

AREVA T AND D SYSTEMS INDIA LIMITED

Director

07/05/2007

07/05/2007

-

Amalgamated

NO

4

U31909DL2000PTC107456

AREVA T AND D INSTRUMENT TRANSFORMERS INDIA PRIVATE LIMITED

Director

07/05/2007

07/05/2007

-

Dormant

NO

5

U31200HR2010PLC041758

GRID EQUIPMENTS LIMITED

Director

29/12/2010

29/12/2010

28/12/2011

Active

NO

 

 

Name :

Mr. Pierre Joseph Jean Marie Laprote

Designation :

Director

Address :

8, Rue De La Paroisse, Versailles, France-78000

Date of Birth/Age :

17.08.1961

Date of Appointment :

25.04.2008

DIN No :

02146282

 

 

Name :

Mr. Michel Eugene Louis Augonnet

Designation :

Director

Address :

47, Rue Perronet, Neuilly, Sur Seine, Paris-92200, France

Date of Birth/Age :

28.09.1950

Date of Appointment :

09.05.2005

DIN No :

00276267

 

 

Name :

Mr. Michel Serra

Designation :

Director (w.e.f. 04.02.2011)

 

 

Name :

Mr. Chandan Roy

Designation :

Director (w.e.f. 06.08.2011)

 

 

Name :

Mr. Ravi Kumar Krishnamurthy

Designation :

Alternate Director (Appointed as an Alternate Director to Mr. Pierre Laporte on 06.08.2011 and due to Mr. Laporte's presence in India at various times, Mr. Krishnamurthy ceased to be an Alternate Director for short spells of time and was intermittently re­appointed as an alternate Director to Mr. Pierre Laporte from time to time.

 

 

Name :

Mr. Anil Chaudhry

Designation :

Director (from 04.02.2011 to 12.12.2011)

 

 

Name :

Mr. Vinod Kumar Dhall

Designation :

Director (from 04.02.2011 to 12.12.2011)

 

 

Name :

Mr. Alexandre Tagger

Designation :

Director (from 04.02.2011 to 12.12.2011)

 

 

Name :

Mr. Arvind Pachauri

Designation :

Alternate Director ('Appointed as Alternate Director to Mr. Pierre Laporte on 04.02.2011 and ceased to be Alternate Director on 06.08.2011)

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Manoj Prasad Singh

Designation :

Company Secretary

 

 

COMMITTEES OF DIRECTORS

Audit Committee

Name :

T.S. Vishwanath

Designation :

Chairman (w.e.f. 04.02.2011)

 

 

Name :

Mr. Pierre Joseph Jean Marie Laprote

Designation :

Member

 

 

Name :

Mr. Chandan Roy

Designation :

Member (w.e.f. 06.08.2011)

 

 

Name :

Mr. Vinod Kumar Dhall

Designation :

Member (from 04.02.2011 to 12.12.2011)

 

 

Share Transfer and Shareholders / Investors Grievance Committee

Name :

T.S. Vishwanath

Designation :

Chairman (w.e.f. 04.02.2011)

 

 

Name :

Mr. Rathindra Nath Basu

Designation :

Member

 

 

Name :

Mr. Chandan Roy

Designation :

Member (w.e.f. 06.08.2011)

 

 

Name :

Mr. Vinod Kumar Dhall

Designation :

Member (from 04.02.2011 to 12.12.2011)

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2012

 

Category of Shareholders

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

(1) Indian

--

--

(2) Foreign

 

 

Bodies Corporate

175492524

73.40

Sub Total

175492524

73.40

Total shareholding of Promoter and Promoter Group (A)

175492524

73.40

(B) Public Shareholding

 

 

(1) Institutions

 

 

Mutual Funds / UTI

14591737

6.10

Financial Institutions / Banks

308271

0.13

Central Government / State Government(s)

605

0.00

Insurance Companies

21115282

8.83

Foreign Institutional Investors

1019760

0.43

Sub Total

37035655

15.49

(2) Non-Institutions

 

 

Bodies Corporate

4650688

1.95

Individuals

 

 

Individual shareholders holding nominal share capital up to Rs.0.100 Million

20449315

8.55

Individual shareholders holding nominal share capital in excess of Rs.0.100 Million

466000

0.19

Any Others (Specify)

1009853

0.42

Trusts

8675

0.00

Foreign Nationals

605

0.00

Non Resident Indians

679691

0.28

Clearing Members

320882

0.13

Sub Total

26575856

11.11

Total Public shareholding (B)

63611511

26.60

Total (A)+(B)

239104035

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

(1) Promoter and Promoter Group

0

0.00

(2) Public

0

0.00

Sub Total

0

0.00

Total (A)+(B)+(C)

239104035

0.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufactures and supplies a complete range of equipment, systems and services for all stages in the transfer of electricity, from the generator to the large end-user backed by a comprehensive services portfolio.

 

 

Products :

Item Code No. (ITC Code)

 

Production Description

85.35

Switchgear - All Types

85.04

Transformers and Reactors

85.37

Control Panels

85.01

Motors

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

Particulars

Units

Installed Capacity

Actual Production

Switchgear – All types

Nos.

259370

353849

Control panels

Nos.

2200

2460

Line Traps

Nos.

2000

1988

Current Transformers

Nos.

3888

4388

Bushing

Nos.

7000

4467

Transformers

MVA

Nos.

36075

--

--

236

 

 

NOTES:

 

1.    The Company's products are exempt from licensing requirement under the new industrial policy by virtue of notification NO 477(E) of 25.07.91

2.    Figures in brackets represent previous year figures

3.    Capacities:

Installed capacities are as certified by the management, but not verified byte auditors, being a technical matter.

4.    Production:

 

a)    Production of finished goods is inclusive of production for captive use.

b)    "Others" represent internally manufactured components, meant for sale. Since the quantitative denominations of these items are dissimilar in nature it is impracticable to disclose the quantitative information in respect thereof.

c)      Production for the period excludes production for demerged business

 

 

GENERAL INFORMATION

 

No. of Employees :

3597 (Approximately)

 

 

Bankers :

·         Standard Chartered Grindlays Bank Limited, Kolkata – 700001, West Bengal, India

·         BNP Paribas CIB

·         Citibank N.A.

·         Credit Agricole CIB

·         HDFC Bank Limited

·         HSBC

·         ICICI Bank Limited

·         IDBI Bank Limited

·         Standard Chartered Bank

·         State Bank of India

 

 

Facilities :

Unsecured Loans

31.03.2012

Rs. In Millions

31.12.2010

Rs. In Millions

 

 

 

From banks - short term

 

 

Packing credit

1783.068

4591.950

Other loans

1057.540

3789.224

Inter Corporate Deposits

2450.000

0.000

From Others - Long term

 

 

External Commercial Borrowings ("ECB")

646.068

571.577

 

 

 

Total

 

5936.676

8952.751

 

Notes:

 

a)         ALSTOM Holdings and T & D Holdings, France (Previous year-ALSTOM Grid SAS, France) has provided comfort letter to the bankers for loans taken by the Company.

b)         Short-term loans from banks includes

-  Overdraft of Rs.809.787 Millions (Previous year - Rs.262.294 Millions) and foreign currency loan of US$ 3,831 thousand and Euro 739 thousand (Previous year - US$ 85,800 thousand and Euro Nil) which is repayable within six months from the date of loan and carries varying interest rates of 8% to 11.5%, (Previous year- 5% - 9%)

 

-  Overdraft of Rs.380.447 Millions (Previous year- Rs.247.931 Millions) from Standard Chartered Bank Qatar. Maximum amount outstanding during the year Rs.561.861 Millions (Previous year- Rs.2125.542 Millions)

 

Interoperate deposits represents amount borrowed from ALSTOM Projects India Limited and are repayable on demand.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants

 

 

Cost Auditors :

 

Name :

Shome and Banerjee

Cost Accountants

 

 

Ultimate Holding Company :

·         ALSTOM SA, France

 

 

Intermediate  Holding Company :

·         T&D Holding, France (upto January 23, 2012)

·         ALSTOM Sexant 5 SAS, France (upto March 30, 2012)

·         ALSTOM Grid Finance BV, Netherlands (w.e.f February 1, 2012)

 

 

Immediate  Holding Company :

·         Grid Equipments Limited, India (w.e.f. February 1, 2012)

·         ALSTOM Grid SAS, France (upto January 23, 2012)

 

 

Subsidiaries :

·         Grid Equipments Limited, India (upto January 3, 2012)

·         Energy Grid Automation Transformers and Switchgears India Limited, India (upto November 26, 2011)

·         Smartgrid Automation Distribution and Switchgear Limited, India (upto November 26, 2011)

 

 

Fellow Subsidiaries :

·         ALSTOM (Yanghou) High voltage bus ducts Company Limited, China

·         ALSTOM Austria GmbH, Austria

·         ALSTOM Colombia S.A, Colombia

·         ALSTOM Grid Vietnam Company Limited, Vietnam

·         ALSTOM Grid Australia Limited, Australia

·         ALSTOM Grid Canada Inc, Canada

·         ALSTOM Grid Energia Ltda, Brazil

·         ALSTOM Grid Enerji Endustrisi AS, Turkey

·         ALSTOM Grid Finance, France

·         ALSTOM Projects India Limited, India

·         ALSTOM Grid GMBH, Germany

·         ALSTOM Grid Huadian Switchgear, China

·         ALSTOM Power Conversion SAS, France

·         ALSTOM Grid Marco, Morocco

·         ALSTOM Grid Midle East FZE, Dubai

·         ALSTOM Grid Panama SA.Panama

·         ALSTOM Grid Portugal LTda, Portugal

·         ALSTOM Grid Protection Control, France

·         ALSTOM Grid Pte Limited, Singapore

·         ALSTOM systems(Shanghai) Company Limited, China

·         ALSTOM Grid SAS, France (w.e.f February 1, 2012)

·         ALSTOM Grid SA, Spain

·         ALSTOM Grid Sdn Bhd, Malaysia

·         ALSTOM Grid, Moscow

·         ALSTOM Grid UAE, UAE

·         ALSTOM Grid UK Limited, UK

·         ALSTOM Grid AG, Switzerland

·         ALSTOM Grid, Finland

·         ALSTOM Grid, Thailand

·         ALSTOM Hungaria KFT, Hingeria

·         ALSTOM Hydro France, France

·         ALSTOM Hydro Malaysia Sdn Bhd

·         ALSTOM Grid, Indonesia

·         ALSTOM Grid Inc., USA

·         ALSTOM Power Sp.zo.o, Poland

·         ALSTOM SA Transport, France

·         ALSTOM Grid S.p.A, Italy

·         PTUNELEC, Indonesia

·         PTSchneider, Indonesia

·         ALSTOM Grid S.A. de C.V, Mexico

·         ALSTOM T and D HVDC India Limited

·         Schneider Electric Brasil Ltda., Brazil

·         Schneider Electric Canada Inc, Canada

·         Schneider Electric De Colombia S.A., Colombia

·         Schneider Electric Energy Gmbh, Germany

·         Schneider Electric Energy Sp Zoo, Polland

·         Schneider Electric India Private Limited, India

·         Schneider Electric Industries SA, UAE

·         Schneider Electric Industries SAS, France

·         Schneider Electric Infrastructure Limited, India

·         Schneider Electric Protection and Controle, France

·         Schneider Electric Sachsenwerk Gmbh

·         Schneider-Electric Energy Hungary Limited, Hungary

·         Shanghai Schneider Electric Power Automation Company Limited, China

·         Suzhou Alstom Switchgear Company Limited, China

·         ALSTOM Instrument Transformers (Shanghai) Company Limited, China

·         ALSTOM Suzhou High Voltage Switchgear Company Limited, China

·         ALSTOM Grid Trans formateurs demesures, France

·         Schneider-Electric Energy, Zalatnai

·         Schneider Electric Maroc, Morocco

·         Schneider Panama S.A., Panama

·         ALSTOM Grid Finance BV, Netherlands (upto January 31, 2012)

·         Energy Grid Automation Transformers and Switchgears India Limited, India (w.e.f November 27, 2011)

·         Smartgrid Automation Distribution and Switchgear Limited, India (w.e.f November 27, 2011)

·         T and D Holding, France (w.e.f. January 23, 2012 to March 29, 2012)

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

627500000

Equity Shares

Rs.2/- each

Rs.1255.000 Millions

 

 

 

 

 

Issued:

No. of Shares

Type

Value

Amount

 

 

 

 

239106635

Equity Shares

Rs.2/- each

Rs.478.213 Millions

 

 

 

 

 

Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

239104035

Equity Shares

Rs.2/- each

Rs.478.208 Millions

 

 

 

 

 

NOTES:

 

a) 175,492,524 (73.4%) equity shares of Rs 2/- each are held by Grid Equipments Ltd. The ultimate holding Company is ALSTOM SA, France

As at December 31, 2010 172,585,900 equity shares of Rs2/- each held by:

 

No. of Shares

Percentage

ALSTOM Grid SAS France                                                   

132,919,225

55.59%

T & D Holding, France                                                          

27,893,950

11.67%

Long & Crawford Limited                                                     

11,772,725

4.92%

Total

172,585,900

72.18%

 

In addition, as at December 31, 2010, 2,906,624 shares (1.22%) were held in Trust forthe Promoter Group by the Registrar to the Public Offer made by the Company in December 2010, tendered in the public offer by them and not transferred to their name in the Company's.

b)    The equity shares of Rs 10/- each oft he Company were sub-divided into five shares of Rs 2/- each with effect from October 31, 2008.

c)    Prior to subdivision of shares:

 

i)     15,750,000 equity shares of Rs 10/- each were allotted as fully paid bonus shares by capitalisation of general reserve, share premium and profit and loss account balance.

ii)   19,871,327 equity shares of Rs 10/- each were issued and allotted as fully paid up shares pursuant to the scheme of amalgamation with The General Electric Company of India Limited in 1992-93 (11,520,000 shares), GEC Power Engineering Services of India Limited (PESIL) in 1993-94 (330,000 shares), ALSTOM T&D Distribution Transformers Limited in 2000-01 (87,992 shares) and with AREVA T&D Systems India Limited, AREVA T&D Instrument Transformers India Private Limited and AREVA T&D Lightning Arresters Private Limited, in 2007, (7,933,335 shares)without payment being received in cash.

iii) During 1994-95, the Company offered 9,950,000 equity shares of Rs 10/- each to the existing shareholders in the ratio of 1 share for every 3 shares held at a premium of Rs 40/- per share as per letter of offer dated May 10,1994. The shares, barring 1,034 shares, which were kept in abeyance for technical reasons, were allotted at the meeting of Committee of Directors held on July 28,1994. Of the 1,034 shares of Rs.10/- each, kept in abeyance, 514 shares of Rs.10/- each, were allotted upto 2001-02.

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2012

(15 Months)

31.12.2010

(12 Months)

31.12.2009

(12 Months)

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

478.208

478.208

478.208

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

8286.091

9545.511

8187.705

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

8764.299

10023.719

8665.913

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

5936.676

8952.751

7676.119

TOTAL BORROWING

5936.676

8952.751

7676.119

DEFERRED TAX LIABILITIES

149.703

38.130

0.000

 

 

 

 

TOTAL

14850.678

19014.600

16342.032

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

6636.602

8715.388

8383.916

Capital work-in-progress

199.166

223.870

518.875

 

 

 

 

INVESTMENT

0.034

2.034

0.034

DEFERREX TAX ASSETS

0.000

0.000

100.089

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
5553.536
4808.383

3790.460

 

Sundry Debtors
18128.362
21400.177

15994.357

 

Cash & Bank Balances
331.052
1199.271

1325.302

 

Other Current Assets
3692.477
5140.808

4474.711

 

Loans & Advances
2891.615
3191.592

3173.978

Total Current Assets
30597.042
35740.231

28758.808

Less : CURRENT LIABILITIES & PROVISIONS
 
 

 

 

Sundry Creditors
15903.708
18298.248

7140.524

 

Other Current Liabilities
5648.451
6342.620

13180.296

 

Provisions
1030.007
1027.055

1098.870

Total Current Liabilities
22582.166
25667.923

21419.690

Net Current Assets
8014.876
10072.308

7339.118

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

14850.678

19014.600

16342.032

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

(15 Months)

31.12.2010

(12 Months)

31.12.2009

(12 Months)

 

SALES

 

 

 

 

 

Income

41291.890

40200.358

35658.766

 

 

Other Income

217.544

169.421

173.112

 

 

TOTAL                                     (A)

41509.434

40369.779

35831.878

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Material and Contract related cost

28798.511

27776.762

31711.737

 

 

Employee Cost

3620.175

3465.864

 

 

 

Other manufacturing, administration and selling cost 

5193.723

4719.908

 

 

 

Exceptional Items

(145.018)

0.000

 

 

 

TOTAL                                     (B)

37467.391

35962.534

31711.737

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

4042.043

4407.245

4120.141

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

652.035

655.011

578.598

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

3390.008

3752.234

3541.543

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1014.249

936.010

611.289

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

2375.759

2816.224

2930.254

 

 

 

 

 

Less

TAX                                                                  (H)

751.654

(948.811)

1010.228

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

1624.105

1867.413

1920.026

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

6696.949

5518.405

4293.913

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

165.000

187.000

192.003

 

 

Dividend

430.387

430.387

430.387

 

 

Tax on Dividend

69.820

71.482

73.144

 

BALANCE CARRIED TO THE B/S

7655.847

6696.949

5518.405

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of exports

3589.289

5280.455

8398.406

 

 

IDA/ IBRD aided projects

35.499

895.136

1993.213

 

 

Service

42.688

39.463

58.632

 

TOTAL EARNINGS

3667.476

6215.054

10450.251

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

5469.768

5658.507

5298.722

 

 

Stores & Spares

399.036

8.356

9.089

 

 

Capital Goods

203.699

148.309

1587.774

 

TOTAL IMPORTS

6072.503

5815.172

6895.585

 

 

 

 

 

 

Earnings Per Share (Rs.)

6.79

7.81

8.03

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

 

30.09.2012

30.06.2012

Type

 

2nd Quarter

1st Quarter

Net Sales

 

6829.900

6755.200

Total Expenditure

 

6534.900

6072.000

PBIDT (Excl OI)

 

295.000

683.200

Other Income

 

0.100

0.000

Operating Profit

 

295.100

683.200

Interest

 

216.500

129.800

Exceptional Items

 

121.000

0.000

PBDT

 

199.600

553.400

Depreciation

 

197.100

213.000

Profit Before Tax

 

2.500

340.400

Tax

 

20.600

110.400

Provisions and contingencies

 

0.000

0.000

Profit After Tax

 

(18.100)

230.000

Extraordinary Items

 

0.000

0.000

Prior Period Expenses

 

0.000

0.000

Other Adjustments

 

0.000

0.000

Net Profit

 

(18.100)

230.000

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

(15 Months)

31.12.2010

(12 Months)

31.12.2009

(12 Months)

PAT / Total Income

(%)
3.91
4.63
5.35

 

 
 
 
 

Net Profit Margin

(PBT/Sales)

(%)
5.75
7.01
8.21

 

 
 
 
 

Return on Total Assets

(PBT/Total Assets}

(%)
6.38
6.33
7.88

 

 
 
 
 

Return on Investment (ROI)

(PBT/Networth)

 
0.27
0.28
0.33

 

 
 
 
 

Debt Equity Ratio

(Total Liability/Networth)

 
3.25
3.46
3.35

 

 
 
 
 

Current Ratio

(Current Asset/Current Liability)

 
1.35
1.39
1.34

 

 

 

 

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

Yes

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

--

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

Yes

34]

External Agency Rating, if available

No

 

NOTE:

 

The registered office address of the company has been shifted from “E-48/7, okhla industrial Area, Phase II, New Delhi - 110 020, India”

 

FINANCIAL RESULTS

 

The Company transferred the relevant assets and liabilities of the demerged business and vested unto the transferee Company with an equivalent withdrawal from the reserves of Rs. 2383.320 million.

 

CHANGE IN NAME

 

The name of the Company was changed to ALSTOM T and D India Limited from AREVA T and D India Limited, effective January 31, 2012, to reflect its name with that of Promoter group. The change of name of the Company does not change the legal status or constitution of the Company, nor does it affect any rights or obligations of the Company

 

MANAGEMENT DISCUSSIONAND ANALYSIS REPORT

 

The onset of the fiscal problems that started in October 2008 cast a dark shadow on the Indian economy throughout 2009. Indian market had a partial recovery in 2010, thanks to positive response from the Fll investments mainly due to some quick initiatives from the government. The economy started showing signs of recovery in first half of 2011, but went retrograde due to several problems that cropped up affecting the sentiments of the investors.

 

Most of the problems were concerning allocation of land for new projects, allocation of fuel linkages for power plants and delay in environmental clearances for projects. While the investors in the Power Generation segment were keen to invest but could not do so at their speed (due to the above factors), the private sector went into wait and watch mode for investments in the Industry and Infrastructure segments of the market.

 

All of these factors, amongst others, led to the lower GDP growth of the Indian economy.

 

During 2011 the Financial Institutions and the Bankers started noticing the increasing level of losses in the State Electricity Boards (SEBs) who were primarily distributing 90% of the electricity as the last point of sale in the electricity market. This led to the setting up of the Shunglu committee, under Planning Commission, to study the SEB losses, who came outwit recommendation/remedies.

 

The Shunglu committee report unfolded the huge cumulative losses (over Rs.800000.000 Million) in the books of the SEBs. The committee recommended that the State Electricity regulators should be more active in passing revised tariff orders and should ask SEBs to significantly improve the collections. The committee also recommended that a Special Purpose Vehicle (SPV) be created at the level of the Central Government to help the SEBs to clean up their book losses with special measures with the concerned States.

 

The poor financial health of the SEBs led to poor off- take of electricity by the SEBs who preferred load shedding to increasing losses. This led to an even bigger problem with the Power Generation Companies who were forced to back down their generating plants due to poor demand from the SEBs. Consequently several of these Generation Companies performed far below the Plant Load Factor (PLF) that they could have delivered. The overall PLF of India came down, as a consequence.

 

Several private power generators, with their new assets and high depreciation, got badly hit leading to huge cash flow problems.

 

However, the Transmission segment of the market remained positive, mainly driven byte investments by Power Grid and some selected SEBs who were keen to upgrade their transmission infrastructure. Both 765 kV AC and in HVDC segments of the transmission business witnessed significantly increased investments.

 

The Industry, the Infrastructure segment and the Power Generation segments continue to be in a state of despair. Strong and positive sentiments from the Government only can infuse confidence in the investors.

 

The impact of the above factors led to contraction in the available market for the T AND D segments.

 

Consequently the prices fell significantly in 2011 mainly due to supply exceeding demand in the market. The Chinese and Korean companies are very active in the Indian market. They are very aggressive with prices, especially in power transformers and GIS businesses.

 

In a very challenging environment, such as above, the Company fared quite well, by retaining the market leadership, through strong actions on cost controls, operational improvement and competitive pricing of products and solutions. Strong leadership and team work by the entire work force led to good performance of the Company.

 

 

OUTLOOK

 

While the Company is optimistic on the growth of the Transmission sector, the scenario in the Power Generation, in the Industry and in the Infrastructure segments is not encouraging.

 

The Company is well prepared to capture the growth in the high end of the Transmission segment with technologies such as 765 kV AC, HVDC and 1,200 kV AC. India's electrical grid is expected to integrate digital substations and smart grid in making the grid secure, safe and high performing in terms of managing power flow at lower transport cost. The Company has all the hardware and software necessary to make this happen.

 

The Company recognizes that the current market condition in India is indeed challenging duet prevailing sentiments in the market place. Market prices are not expected to increase in the current T and D market scenario.

 

The Company's management team, notwithstanding, remains holistically focused to meet the challenges and is committed to deliver the best and increase value for its stake holders.

 

 

FIXED ASSETS:

 

·         Freehold Land

·         Leasehold Land

·         Buildings

·         Plant and Machinery

·         Furniture fittings and Office equipment

·         Motor vehicles

·         Goodwill

 

 

AS PER WEBSITE DETAILS

 

PROFILE

 

With a 100 years of presence in India, Subject is a leading player in the Power Transmission business with a product portfolio ranging from Medium Voltage to Extra High Voltage (765 kV) for the Utility, Industry and Infrastructure markets. Subject has a predominant presence in all stages of the power supply chain, with a wide range of products that include Power Transformers, Circuit Breakers, Gas Insulated Switchgears, Instrument Transformers, Protection Relays and Power System Automation equipments.

 

Over the years it has become the leading turnkey solution provider for Transmission Projects, HVDC, e-BOP projects, FACTS, Network Management System and Power Line Carrier Communication (PLCCs). Alstom Grid India’s widely expanded and highly skilled Service business helps its customers to install commission and maintain its equipments and offerings to achieve the best results.

 

With 3500+ employees and 8 manufacturing units, Subject is clearly the undisputed market leader in India and is future ready to meet the demands for equipments and services even at Ultra High Voltage levels (1200 kV).

 

With an increased demand for energy worldwide, and consumption forecasts predicting energy production increases of around 80% between 2006 and 2030*, Subject’s dedicated teams combine their skills to deliver customer-valued solutions to build smarter, more stable, more efficient and environmentally friendly electricity grids worldwide.

 

Subject, as one of the three global players in electrical transmission, boasts technologies and expertise which have always ensured higher safety, reliability, capacity of power grids around the world and well-positioned to meet the energy challenges of today and tomorrow.

 

Subject is the first company in India to successfully manufacture India's first 1200 kV Capacitor Voltage Transformer and invest in manufacturing of all transmission products upto 765 kV and above. It is also the first company to manufacture fully localized 765 kV Power Transformer and Instrument Transformer and commission India’s first indigenously developed 765 kV Substation for LANCO Infratech. Subject is the first company to manufacture 800 kV Circuit Breaker for NTPC Sipat and deliver first 765 kV substation in India.

 

PRESS RELEASE:

 

IN THE FIRST HALF OF 2012/13

ALSTOM DELIVERED ACCORDING TO PLAN

07.11.2012

 

Between 1 April and 30 September 2012, Alstom booked a sound level of orders at €12.1 billion, up 19% compared to the first half of last year, driven in particular by a strong semester for Transport. Over the same period, sales were up 4%, amounting to €9.7 billion. Income from operations increased to €703 million, leading to a 7.2% margin or a 50 basis point improvement. The net result stood at €403 million and the free cash flow turned positive at €101 million.

 

Key figures

(In € Millions)

 

30.09.2011

30.09.2012

% Var. Sept 12 /

Sept 11

Actual figures

 

 

 

Orders received

10,183

12,129

+19%

Backlog

47,382

52,015

+10%

Sales

9,389

9,748

+4%

Income from operations

627

703

+12%

Operating margin

6.7%

7.2%

--

Net income

363

403

+11%

Free cash flow

(914)

101

--

 

“In a still challenging economic environment, the Group achieved a sound commercial performance during the first half of 2012/13 with orders up 19%, leading to a book-to-bill above 1 for the fourth consecutive semester. Recovery of sales combined with strict cost control and good execution of contracts enabled the operating margin to improve to 7.2%. Free cash flow turned positive at €101 million. Thanks to these good results, we are on track with our three-year guidance: sales should grow over 5% per year for this fiscal year and the two following ones, the operating margin should gradually improve to around 8% in March 2015 and the free cash flow should be positive in each of the three fiscal years”, said Patrick Kron, Alstom’s Chairman & Chief Executive Officer.

 

A challenging world

 

During the first six months of 2012/13, the macro-economic conditions have remained challenging with a sluggish economic environment in mature countries and a slower growth in some emerging countries.

 

In power generation, demand in coal technologies remains stable, coming mainly from Asia while gas progressively increases its share despite the absence of recovery in mature countries. Thermal services and environmental control systems continue to show good dynamism. As for renewable, hydro market is temporary affected by a lack of major projects. Onshore wind remains under significant price pressure, while offshore wind shows favourable prospects.

 

The power transmission market still presents a mixed outlook with overcapacity in transformers and a good momentum in high-end segments (power electronics, smart grids).

 

Finally, demand for rail transport continues to be sound, supported by urban needs in Europe and expansion in developing countries.

 

Sound level of orders

 

Orders booked over the first half of 2012/13 amounted to €12.1 billion, a 19% increase from the same period last year, driven by the very strong commercial performance of Transport. On 30 September 2012, the Group’s backlog amounted to €52 billion, representing 31 months of sales.

 

During the semester, Thermal Power booked 5 gas turbines (2 in Israel, 2 in the UK and 1 in China) as well as several equipment orders for both coal and nuclear, and continued to benefit from a strong activity in environmental control systems and in thermal services.

 

Renewable Power recorded a sound performance in the wind business (notably in Brazil) but only small and medium-sized hydropower projects.

 

Grid recorded a high level of orders with €2.2 billion of contracts including a strategic 800 kV ultra high voltage direct current (UHVDC) contract in India.

 

Transport registered its best commercial semester since 2008. Commercial activity remained sustained in Western Europe with, in particular, a signalling system in Amsterdam, regional trains in Germany and Sweden, high-speed trains in Switzerland as well as suburban trains and metros in France. In emerging countries, Alstom booked two metro contracts in Latin America.

 

Operational performance improving

 

Sales in the first half of 2012/13 amounted to €9.7 billion, compared to €9.4 billion for the first half of 2011/12, representing a 4% increase, with Thermal Power and Transport up, respectively 5% and 13%. Renewable Power’s revenues decreased by 17% due to much lower revenues during this period for large hydro contracts in execution in Latin America. Grid’s sales remained stable.

 

Supported by improved sales, sound project execution and strict cost control, the income from operations increased to €703 million, up 12% compared to the same period last year, whilst the operating margin went up 50 basis points to 7.2% for the first half of 2012/13.  The operating margin in Thermal Power moved from 9.2% to 10.6%, benefiting mainly from good project execution, actions on costs and sales ramp-up. Renewable Power’s margin decreased from 7.3% to 5.7%, affected by lower volumes as well as price erosion in wind. Grid’s operating margin increased from 5.8% in the first half of last year to 6.1% as a result of overall good execution of projects together with cost optimisation. In Transport the operating margin increased from 5.0% to 5.3%, thanks to the recovery of sales.

 

Net profit amounted to €403 million compared with €363 million in the first half of 2011/12, up 11%. This figure included a contribution of €34 million from Transmashholding compared with €15 million for the same period last year.

 

Positive free cash flow and sound financial structure

 

Free cash flow turned positive at €101 million during the first half of 2012/13, showing a marked improvement compared to the same period last year when it was negative at €(914) million.

 

Following the payment of the dividend, the Group’s net financial debt reached €(2,871) million at 30 September 2012 versus €(2,492) million at 31 March 2012 and €(2,748) million at 30 September 2011.

 

Equity was stable over the period, standing at €4,449 million at 30 September 2012 from €4,434 million at 31 March 2012.

 

With a gross cash in hands of €1.6 billion at the end of September 2012, an undrawn credit line of €1.35 billion and a schedule of gradual repayment of the debt starting in September 2014, the balance sheet remains strong.

 

On 1 October 2012, the Group launched a €350 million share capital increase through an accelerated book building. On 4 October 2012, Alstom launched a new bond issuance of €350 million. It will bear an annual coupon of 2.25% and mature in October 2017. These two financing transactions contributed to maintaining the sound financial structure of the Group.

 

Consolidating position in key technologies and regions

 

During the first half of 2012/13, Alstom pursued its policy of partnerships and selective acquisitions and continued to invest in research & development and capital expenditures to reinforce its presence in dynamic markets.

 

To strengthen its portfolio of marine products and technologies, Renewable Power signed an agreement with Rolls-Royce in September 2012 to acquire its wholly-owned subsidiary Tidal Generation Limited (TGL). TGL is at the forefront of the design, development and manufacture of tidal stream turbines which capture and convert the energy of tidal streams to generate electrical power.

 

In September 2012, Grid signed a memorandum of understanding with Toshiba Corporation to develop cooperation on smart grid, more specifically on systems supporting wide-scale integration of renewable energy sources into the grid. Alstom increased its research and development expenses to €351 million during the first semester, with a continuing focus on gas turbines, new renewable energies, smart grid and energy management as well as transport technologies adapted to urban needs. At €186 million, capital expenditures remained at a high level, the four Sectors pursuing their investments, particularly in emerging markets.

 

Three-year guidance reiterated

 

The Group confirms its guidance of a sales growth of over 5% per year for this fiscal year and the two following ones and a gradual improvement of the operating margin which should be at around 8% in March 2015. It also confirms that the free cash flow should be positive in each of the three fiscal years.

 

ALSTOM WINS 800 KV UHVDC CONTRACT IN INDIA

27/08/2012

 

Alstom has been awarded a turnkey contract worth approximately €400 million by Power Grid Corporation of India Limited, to connect Champa (State of Chhattisgarh), Central India, to Khurukshetra (State of Haryana) in Northern India, using ±800 kV 3,000 MW Ultra High Voltage Direct Current (UHVDC) technology. This advanced UHVDC system will meet the bulk power transfer requirement from Chhattisgarh region - a hub of Independent Power Producers of thermal power - to the load centre located in the northern region of the country, through a 1,365 km transmission line, creating an “energy highway” of clean, efficient power.

 

Under the terms of the contract, Alstom will deliver ±800 kV UHVDC thyristor valves, 32 converter transformers, 400/220 kV gas-and air-insulated switchgear and substation equipment, communication and supervisory control and data acquisition systems (SCADA). The scope of work includes overall project management, studies, design, engineering, training, manufacture, civil works at site, erection, site testing and commissioning.

 

The main Alstom units involved in the project will be the HVDC Centre of Excellence in Stafford (UK), and the Alstom Grid India units located at Noida, Hosur, Padappai, Pallavaram and Vadodara in India.

 

ALSTOM AND BHEL TO SUPPLY THE TURBO-GENERATOR PACKAGE FOR THE RAWATBHATA NUCLEAR PLANT IN INDIA

22/08/2012

 

Alstom, in consortium with the Indian company BHEL (Bharat Heavy Electricals Limited), has secured a contract from the Nuclear Power Corporation of India Limited (NPCIL) to supply the turbine generator package for the Rajasthan Atomic Power Project (RAPP) units 7 and 8, located at Rawatbhata in Rajasthan. Alstom’s share in the total consortium contract is around €100 million.

 

Alstom and BHEL will supply, install and commission the turbine generator packages for the power station’s two new 700 MW capacity units. The expansion of the existing capacity of the 1180 MW of RAPP nuclear power plant will help meet increasing demand for power in the country.

 

This contract marks Alstom’s growing contribution in the nuclear energy business in India after the award of the contract for 2x700 MW units for the Kakrapar 3 and 4 nuclear power plant in Gujarat a year ago. It equally confirms Alstom’s technical capabilities as well as its strengthening partnership and long standing relationship with NPCIL and BHEL. The first contract that Alstom executed for NPCIL was for Rajasthan unit 1 and unit 2 in 1973 and 1981. Thereafter it became the technology provider through BHEL for the 220 MW park for Kakrapar.

 

Patrick Fragman, Senior Vice President of Alstom’s nuclear business, said: "With India envisioning to increase the contribution of nuclear power to overall electricity generation capacity from 3.2 % to 9 % within 25 years, Alstom is well positioned to respond to the country’s ever-increasing electricity requirements.”

 

Alstom is the world leader in conventional islands for nuclear power plants with close to 30 % of total nuclear capacity in operation (approximately 114 GW) across the world operating on installations by Alstom. Nuclear power is currently the fourth largest source of electricity in India after thermal, hydro and renewable energy. At present, India has 20 nuclear power units in operation, generating 4,780 MW. Seven reactors are under construction and will add 5,300 MW of nuclear power generation capacity.

 

ALSTOM T AND D INDIA LIMITED ANNOUNCES Q1, 2012-13 RESULTS

02/08/2012

 

Alstom T and D India Limited announced its financial results on July 27, 2012, for the first quarter ended June 2012, following approval by the Company’s Board of Directors.

 

Adding to the healthy order backlog of the preceding quarter, the company has achieved a 9% increase over March 2012 bringing the total order backlog to 50,828 MINR. Sales revenue grew to 6,710 MINR and Profit After Tax increased by 28% to 230 MINR.

 

This robust performance is the result of the Company’s growth strategy and its continued focus on acquiring new orders, better cost optimisation and delivering operational excellence.

 

Recent highlights include successfully energising Power Grid’s 765 kV and 400 kV priority bays at Bhiwani in a record time of less than eight months; commissioning the electrical balance of plant (eBoP) package for the ESSAR group’s 2x600 MW power plant located at Salaya in the state of Gujarat; and charging the 220 kV substation for India's largest solar power plant in Rajasthan for Reliance Infrastructure Limited.

 

Commenting on the results, Mr Rathin Basu, Managing Director, Alstom T and D India said: “Despite the challenging market environment, Alstom T and D India continues to maintain its leadership position, thanks to a healthy order pipeline, and to improve its revenue profile with a focus on accelerating our project execution. We are well positioned as a high technology provider and this has enabled us to continue to win major orders further improving a robust order backlog. "

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.54.96

UK Pound

1

Rs.87.10

Euro

1

Rs.70.03

 

 

 

INFORMATION DETAILS

 

Report Prepared by :

BSN

 

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILIRY

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

67

 

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

 

-

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.