MIRA
INFORM REPORT
|
Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GENUS POWER INFRASTRUCTURES LIMITED |
|
|
|
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Formerly Known
As : |
GENUS OVERSEAS ELECTRONICS LIMITED |
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Registered
Office : |
213, J.S. Arcade, Sector-18, Noida -201301, Uttar Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
06.08.1992 |
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Com. Reg. No.: |
20-051997 (New) 55-133383 (Old) |
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Capital
Investment / Paid-up Capital : |
Rs. 158.907
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
L51909UP1992PLC051997 (New) L51909DL1992PLC133383 (Old) |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JPRG00418F |
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PAN No.: [Permanent Account No.] |
AACCG1218P |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Distribution of Electronic Energy Meters, Power Distribution
Management Projects, Hybrid microcircuits, Inverters, Batteries, Home UPS and
Online UPS. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 17000000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of diversified “Kailash Group”. It is a well established company having a good track record. Financially company appears to be strong. Liquidity position of the company is good. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered for normal business dealings
at usual trade terms and condition. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
SP 2A |
|
Rating Explanation |
This rating indicate high performance capability and high financial
strength |
|
Date |
January 2013 |
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 : |
213, J.S. Arcade, Sector-18, Noida -201301, Uttar Pradesh,
India |
|
Tel. No.: |
91-120-4210421 |
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Fax No.: |
91-120-4210421 |
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E-Mail : |
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|
Website : |
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Corporate Office / Factory 1:: |
SPL-3, Ricoh Industrial Area, Sitapur, Tonk Road, Jaipur – 302 022,
Rajasthan, India |
|
Tel. No.: |
91-141-2770003 / 2770401 / 3911400
/ 500 |
|
Fax No.: |
91-141-2770355 / 2771355 /
2770319 |
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Factory 2: |
SPL-2A, RIICO Industrial Area, Sitapura, Tonk Road, Jaipur – 302022, Rajasthan, India |
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Factory 3: |
SP-4-2, Keshwana, (Kotputli), District Jaipur – 303108,
Rajasthan, India |
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Factory 4: |
Plot No.12, Sector-4, IIE, SIDCUL, Haridwar – 249403, Uttarakhand, India |
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Factory 5: |
Plot No.9, Sector-2, SIDCUL, Haridwar – 249403, Uttarakhand, India |
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Factory 6 : |
Plot No.: SP-1-2317, RIICO Industrial Area, Ramchandrapur, (Sitapura
Extension), Jaipur – 302022, Rajasthan, India |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Ishwar Chand Agarwal |
|
Designation : |
Executive Chairman |
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|
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|
Name : |
Wg. Cdr. (Retd.) B. S. Solanki |
|
Designation : |
Director |
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Name : |
Mr. Rameshwar Pareek |
|
Designation : |
Director |
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Name : |
Mr. Indraj Mal Bhutoria |
|
Designation : |
Director |
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Name : |
Mr. Dharma Chand Agarwal |
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Designation : |
Director |
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|
Name : |
Mr. Udit Agarwal |
|
Designation : |
Director |
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Name : |
Mr. Naveen Gupta |
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Designation : |
Additional Director |
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Name : |
Mr. Kailash Chandra Agarwal |
|
Designation : |
Joint Managing Director |
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Name : |
Mr. Rajendra Kumar Agarwal |
|
Designation : |
Executive Director and CEO |
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Name : |
Mr. Jitendra
Kumar Agarwal |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Ankit Jhanjhari |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Category of
Shareholder |
No. of Shares |
Percentage of
Holding |
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|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
29457731 |
18.54 |
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|
44444933 |
27.97 |
|
|
73902664 |
46.51 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
73902664 |
46.51 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
122945 |
0.08 |
|
|
6000 |
0.00 |
|
|
93110 |
0.06 |
|
|
43000 |
0.03 |
|
|
265055 |
0.17 |
|
|
|
|
|
|
26871654 |
16.91 |
|
|
|
|
|
|
28405007 |
17.88 |
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|
18112740 |
11.40 |
|
|
11349700 |
7.14 |
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|
1034006 |
0.65 |
|
|
10315694 |
6.49 |
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|
84739101 |
53.33 |
|
Total Public shareholding (B) |
85004156 |
53.49 |
|
Total (A)+(B) |
158906820 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
158906820 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distribution of Electronic Energy Meters, Power Distribution
Management Projects, Hybrid microcircuits, Inverters, Batteries, Home UPS and
Online UPS. |
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Products : |
Metering Solutions · Residential Meters · Industrial / Substation / Agricultural /Audit Meters · Grid Meters · Group Meters · Special Meters · AMR Solutions · Software - URJA Electricity Management Server Engineering Construction and
Contracts ·
Substation Commissioning · Transmission and Distribution · Electrification · Distribution Transformer Metering · Billing Solution ·
SCADA Solutions ·
Inverters / UPS · Inverters · UPS · Solar products · Batteries Thick Film Hybrid Microcircuits |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Energy Meter |
Nos. |
6500000 |
2919865 |
|
Power Inverter/ UPS |
Nos. |
600000 |
149872 |
|
HMC |
Nos. |
3.00 |
60988 |
|
Resistor Network |
Nos. |
-- |
-- |
|
SMT/ PCB |
Nos. |
-- |
1311404 |
|
Transformer |
Nos. |
12000 |
2462 |
|
RCC Pole |
Nos. |
72000 |
-- |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Bank of Baroda · IDBI Bank Limited · State Bank of India · State Bank of Bikaner and Jaipur · Standard Chartered Bank · Axis Bank Limited · Export-Import Bank of India · Punjab National Bank ·
State Bank of Mysore |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D. Khanna and Associates Chartered Accountant |
|
Address : |
G-6, Royal Sundram, Vivekanand Marg, C-Scheme, Jaipur – 302001, Rajasthan, India |
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Corporate Law Advisor : |
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|
Name : |
C. M. Bindal and Company Company Secretaries |
|
Address : |
247, Himmat Nagar, Tonk Road, Jaipur-302018, Rajasthan, India |
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Subsidiaries : |
Genus Paper and Boards Limited |
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Associates : |
· M.K.J. Manufacturing Private Limited · Genus Paper Products Limited · Kailash Coal And Coke Company Limited · Virtuous Infra Limited · Genus Electrotech Limited · Genus Consortium ·
Virtuous Infra Limited |
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|
|
|
Company in which KMP / Relatives of KMP can exercise significant
influence : |
· Genus Innovation Limited · J C Textile Private Limited · Hi-Print Electromack Private Limited · Genus International Commodities Limited · Vivekshil Dealers Private Limited · Maple Natural Resources Pte. Limited. |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
181600000 |
Equity Shares |
Rs.1/- Each |
Rs.181.600 Millions |
|
504000 |
10% Redeemable Preference Shares |
Rs.100/- Each |
Rs.50.400
Million |
|
|
Total |
|
Rs.232.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
158906820 |
Equity Shares |
Rs.1/- each |
Rs.158.907
Millions |
|
|
|
|
|
Reconciliation of share outstanding to the begning and end of reporting
period:
|
Particular |
No of Shares |
Rs. in Millions |
|
At the beginning of the period |
151906820 |
151.907 |
|
Issued during the period |
7000000 |
7.000 |
|
Outstanding at the end of the period |
158906820 |
158.907 |
Details of shareholders holding more than 5% share in the company
|
Name of Shareholder |
No of Shares |
% holding in
that class of shares |
|
Equity share |
|
|
|
Vivekshil Dealers private Limited |
14514170 |
9.13 |
|
Genus Paper Products Limited |
7703850 |
4.85 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
158.907 |
151.907 |
147.907 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Equity Share Warrants |
0.000 |
33.250 |
52.250 |
|
|
4] Reserves & Surplus |
4297.062 |
3525.921 |
2825.034 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4455.969 |
3711.078 |
3025.191 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2881.951 |
2600.794 |
2355.768 |
|
|
2] Unsecured Loans |
299.563 |
379.455 |
125.453 |
|
|
TOTAL BORROWING |
3181.514 |
2980.249 |
2481.221 |
|
|
DEFERRED TAX LIABILITIES |
62.724 |
67.723 |
63.079 |
|
|
|
|
|
|
|
|
TOTAL |
7700.207 |
6759.050 |
5569.491 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
836.373 |
756.469 |
690.968 |
|
|
Capital work-in-progress |
191.528 |
104.214 |
14.974 |
|
|
|
|
|
|
|
|
INVESTMENT |
880.617 |
860.718 |
558.218 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
901.948
|
1071.962 |
911.121
|
|
|
Sundry Debtors |
4352.678
|
3773.444 |
3763.727
|
|
|
Cash & Bank Balances |
271.149
|
325.206 |
318.097
|
|
|
Other Current Assets |
391.725
|
255.236 |
0.000
|
|
|
Loans & Advances |
1791.955
|
1493.445 |
1082.666
|
|
Total
Current Assets |
7709.455
|
6919.293 |
6075.611 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1225.001
|
1220.525 |
1586.753 |
|
|
Other Current Liabilities |
465.122
|
368.521 |
130.061
|
|
|
Provisions |
227.643
|
292.598 |
89.177
|
|
Total
Current Liabilities |
1917.766
|
1881.644 |
1805.991 |
|
|
Net Current Assets |
5791.689
|
5037.649 |
4269.620
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
35.711 |
|
|
|
|
|
|
|
|
TOTAL |
7700.207 |
6759.050 |
5569.491 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7054.814 |
7141.824 |
6538.391 |
|
|
|
Other Income |
10.978 |
22.918 |
31.077 |
|
|
|
TOTAL (A) |
7065.792 |
7164.742 |
6569.468 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed including |
4907.244 |
|
|
|
|
|
Changes in inventories of finished goods and work-in-progress |
18.795 |
(88.313) |
5632.207 |
|
|
|
Employee benefits expenses |
425.443 |
409.655 |
|
|
|
|
Other expenses |
718.051 |
674.279 |
|
|
|
|
Extraordinary items |
0.000 |
(63.107) |
|
|
|
|
TOTAL (B) |
6069.533 |
6076.611 |
5632.207 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
996.259 |
1088.131 |
937.261 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
474.473 |
278.670 |
322.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
521.786 |
809.461 |
615.025 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
67.727 |
53.738 |
53.942 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
454.059 |
755.723 |
561.083 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(206.941) |
144.914 |
89.107 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
661.000 |
610.809 |
471.976 |
|
|
|
|
|
|
|
|
|
|
Extraordinary
Items |
0.000 |
0.000 |
(208.115) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1701.595 |
1108.549 |
966.625 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend (Equity/ Preference) |
NA |
15.191 |
18.750 |
|
|
|
Corporate Dividend Tax |
NA |
2.582 |
3.187 |
|
|
|
Debts/ Debentures Redemption Reserve |
NA |
0.000 |
100.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1701.585 |
1108.549 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
48.319 |
41.433 |
60.572 |
|
|
TOTAL EARNINGS |
48.319 |
41.433 |
60.572 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
1085.949 |
1133.838 |
726.632 |
|
|
|
Stores, Spares and Consumables |
0.000 |
0.000 |
0.034 |
|
|
|
Capital Goods |
62.540 |
40.115 |
16.148 |
|
|
TOTAL IMPORTS |
1148.489 |
1173.953 |
742.814 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
4.21 |
3.69 |
3.16 |
|
|
|
- Diluted |
4.16 |
3.45 |
1.75 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
1307.500 |
1445.100 |
1919.900 |
|
Total Expenditure |
1101.000 |
1240.800 |
1617.300 |
|
PBIDT (Excl OI) |
206.400 |
204.300 |
302.600 |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
206.400 |
204.400 |
302.600 |
|
Interest |
123.300 |
37.700 |
81.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
83.100 |
166.700 |
221.600 |
|
Depreciation |
19.300 |
20.500 |
27.000 |
|
Profit Before Tax |
63.900 |
146.200 |
194.600 |
|
Tax |
12.500 |
29.700 |
39.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
51.400 |
116.500 |
155.600 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
51.400 |
116.500 |
155.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.35
|
8.53 |
7.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.44
|
10.58 |
8.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.31
|
9.85 |
8.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.20 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71
|
0.80 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.02
|
3.68 |
3.36 |
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 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 |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
Yes |
Note:
The registered office of the company has been shifted from D-116, Okhla
Industrial Area, Phase-1, Okhla, New Delhi – 110020 to present address.
REVIEW OF FINANCIAL
PERFORMANCE
During the financial year 2011-2012, the global as well as Indian economy demonstrated high volatility. However, they showed strong resilience to overcome immense obstacles and remained stable to deliver sustainable performance.
During the financial year, the Income from operations of the Company was Rs. 7172.314 Millions against Rs.7327.369 Millions In the previous year registering marginal decline of 0.75%. This was mainly because of adverse market conditions prevailing in the sector in which the company operates coupled with the higher input costs and Increasing Interest rates. The profit after tax (PAT) Increased by 8.22% to Rs.661.000 Millions during the year from Rs. 610.809 Millions in the previous year mainly because of recognising unutilized MAT credit
Exports sales including deemed exports decreased to Rs. 235.002 Millions during the year from Rs. 291.377 Millions in previous year mainly owing to their increased focus on capitalizing on the improved domestic opportunities.
The operating profit (EBITDA) for the year slightly went down to R5.996.259 Millions from Rs.1025.024 Millions in previous year, mainly due to increased employee cost and other direct expenses inputs.
The basic earnings per share (EPS) (before extraordinary items) for the year ended March 31, 2013 was Rs.4.21 as against Rs.3.69 in the previous year. The basic EPS (after extraordinary items) or the year ended March 31.2012 was Rs.4.21 as against Rs. 4.11 in the previous year.
The net worth of the company increased to Rs, 44,55.969 Millions at the end of FY 2011-13 from Rs, 3701.821 Millions at the end of FY 2010-11 The book value per share having face value of Re. 1/- Increased to Rs. 28.04 as at 31.03.2012 from Rs. 24.37 as at 31.03.2011.
The Company has written off book debts of Rs. 254.916 Millions for the year, which mainly represent various deductions including liquidated damages made by indenting agencies, pursuant to the terms of contracts of supplies.
As the Company's subsidiary has not undertaken any commercial activity since its inception, there was no income or profit/loss during the year.
Indian economy is mainly driven by domestic consumption their demonic savings provide major part of the Investment in India. This strengthens their economy and makes more resilient to external distresses. However, the FY 2011-12 remained a challenging year also fertile Indian economy. During the PY 2011-12, India experienced a high rate of in nation and high fiscal deficit. Gross domestic product (GDP} of India reached to 5.5% in FY 2011-12 as against 8.5% in FY 2010-11. The sluggish Industrial growth and relentless Inflationary pressures had an adverse impact on Indian economy. The global crisis in the form of debt crises in Euro zone, political turmoil in Middle East, rise in crude oil price and earthquake in Japan had also contributed to this slowdown through reduced growth in exports and significant decrease in foreign currency inflows, lower Industrial growth in FY 11-12 was also due to adverse base effects and production Interruption as a result of power breakdowns. This is a wakeup call for the economy. There is need to stimulate growth through speedy reforms and belter governance.
However India's diverse economy has enormous potential to grow at the faster rate. There are clear Indications of recovery In the core sectors of Indian economy, Also, during the recent months, inflation remained to an acceptable level, which could lead to some reversal of tough monetary measures taken by the Reserve Bank of India and Support an investment activity. Moreover, the government is aspiring at reducing its expenditures and keen to lake tough decisions to bring down the subsidy burden, to the extent that they can be home by the country's economy without any negative Impact on it Furthermore, the government is planning to raise around Rs.30,000 acres through disinvestment without leaving ownership and management control over PSUs. The government is also focusing on development of advanced Infrastructure facilities for Indian industries and civil society through its budgetary provisions and policies. Recently, the government initiated some bold steps of cutting down fuel subsidy and permitting foreign direct investment (FDI) in multi-brand retail. In fact, the government is undertaking every possible means to accelerate the India economic growth rate. Man effect of all of these, they are quite hopeful of a higher growth rate in coming years.
POWER SECTOR - REVIEW
AND OUTLOOK
Power sector is the backbone of India's growing Infrastructures sector it has made tremendous growth during last few decades in the field at generation, transmission, distribution end consumption of electricity. The total installed generation capacity of India has crossed 2 lakhs MW mark from mere 1,363 MW In 1943. The per capita electricity consumption rose in around 813 kWh from just 16.3 kWh in 1947. Around 5.60 lacs villages have been electrified in comparison to 3061 villages in 1950. During the financial year 2011-12. Indian Power Sector performed exceptionally well with a record generation capacity addition. The electricity generation during the financial year has been 876,43 BU with a growth rate of 8.05 % over the same period in previous year. Last year, the corresponding growth rate was 5.56 %. The annual generation target of B55 BU for the financial year 2011-12 was achieved well in advance with 10 2.51 % of the yearly target.
Electricity is one of the key drivers of economic growth for any nation. It is equally important for sustainable social development. The economic and social growth of a nation hugely depends on the per capita electricity consumption. Though India is the 5th largest energy consumer In the world, its per capita primary electricity consumption is one of the lowest in the world. Furthermore, India has been facing a critical shortage of electrical power. Around 40-45% of India's population still has no access to electricity and large portion of population only have intermittent access. Indian Inc. also suffers losses due to internment power supply. During the financial year 2011-12, the total energy deficit was around 8.5% and peak energy deficit was around 11.1%. Although, the power generation capacity addition target during The 11th Five Year Plan was 78700 MW (which Was scaled down to 62,000 MW by the Planning Commission in its mid-term review), the achievement is around 54,964 MW. It is disheartening to note that the Government, in the recent Union budgets, has released s Central Plan Outlay of Rs. 69507.530 Millions to the Power Sector which is less than last year's allocation of Rs.727.540 Millions.
Due to the desired GDP growth, ever-increasing population, growing urbanitalian and rising prosperity, the demand of electricity continues to rise in India. The supply-demand gap is envisaged to widen even more in the coming years, The 18th Electric Power Survey (EPS) report estimated the energy requirement in The terminal year of 12th Five-Year Plan (2012-17) at 1,354,874 billion units. Thus, increasing present generation capacity as fast as passable through a Faster capacity addition Is the only solution to bridge this demand and supply gap and that is so Imperative to the overall growth of their nation. The Government's Working Group on Power for formulation of the 12th Five-Year Plan (2012-17) has estimated total fund requirement of Rs. 13.72 lakhs crores for the power sector. The Tower Ministry has set an ambitious target for adding 76,000 MW of electricity capacity in the 12" Plan (2012-17) and 93.000 MW in the 13th Five-Year Plan (2017-2022).
Given the current Indian Power scenario, they believe that the government will focus on the needs of the power sector that is Imperative to achieve and maintain a sustainable economic growth rate.
POWER TRANSMISSIONS
DISTRIBUTION SECTOR - REVIEW AND OUTLOOK:
Power transmission and distribution (T and D) constitute a significant part of the entire power supply system. It mainly encompasses transmission lines, sub-stations, distributing lines and metering equipments. An efficient and safe power supply system is the growth engine for a growing economy tike India. It is vital for socio-economic growth, especially in rural areas where electricity promotes economic activities such as Irrigation and small Industries, and improves quality of life.
In recent years, the T and D sector in India has made impressive growth. During the FV 2011-12, India added around 2050 ckt. Kms of transmission lines of different kVs as against the programme of 19792 cktr Kms. During this period, around 54300 MVA of sub-stations of different kVs were installed, against the programrne of 27380 MVA. T and D utilities are now focusing on deploying appropriate technologies to cope up with need of growing power sector. Nowadays.. T and D utilities are using higher and safe voltage lines and distribution systems to improve the performance and reduce losses of T and D network.
However, the torrent scenario of the power transmission and distribution sector in India looks to be gloomy. The electricity requirement and generation capacity is projected to increase rapidly in coming years. The T and G network in India even does not meet the requirement set by the total electricity installed capacity. As per Census 2011, only 55 percent of the rural households have access to electricity. Moreover, the T and D sector continues to suffer high T and D losses, which makes the power distribution companies, especially SEBs financially weak. Furthermore the underutilization of allotted found under Central Plan allocation is also a matter of concern.
To overcome this dismal situation, T and D capacity expansion needs to keep pace with the Increasing demand for electricity In India. T and D networks need to be improved with new technology like smart grids, smart meters. All obsolete electrical equipments/lines/systems are required to be replaced to deliver more efficient and reliable energy system. The Government needs to locus through policies and strict adherence to the plans.
In light of this, the government In the recent Budget (2012-13) has hiked the Central Plan allocation from Rs.20340.000 Millions (BE 2011-12) to Rs. 31140.000 Millions (BE 2012-13) for the Restructured Accelerated Power Development and Reforms Programme (R-APDRP) with the objective to facilitate State Power Utilities to reduce the level of AT and C loss to 15%. As the growth of power sector hugely depends on the financial viability of the power distribution sector and the reduction of aggregate technical and commercial (AT and C) losses, a constant rise in budgetary alienation for R-APDRP focused on reduction of AT and C losses and power infrastructure development for the country Is essential.
Further, with the objective to achieve electrification of 4800 un-electrified villages and offer electricity connections to around 34 lakhs BPL households, the government has allocated Rs.4900.000 Millions for Rajiv Gandhi Grameen Vldyutlkaran Yojana.
In order to promote and incentivise the corporate sector to continue to spend on in-house research, the weighted deduction of 200% for R and D expenditure in an in-house facility has been expended for a further period of five years i.e. up to 31st March, 2017. Also to encourage the corporate sector and considering the need of skilled manpower the government has allowed weighted standard deduction of 150% of the expenditure (other than land or building) Incurred on skill development in the ITIs in manufacturing sector.
Pushing new reforms in the power sector, recently the Central government approved restructuring of Rs.1.9 lacs crore debts of State Electricity Boards In a move to turnaround the near bankrupt power distribution companies. Under the scheme approved by the Cabinet Committee on Economic Affairs, 50 percent of the short-term outstanding liabilities would be taken over by state governments. Balance 50 percent loans would be restructured by providing moratorium on principle loan amount and best possible terms for repayments thereof.
However, the long term reforms are desirable from Policymakers to make the T and D sector commercially viable and competitive.
ELECTRONIC ENERGY
METER INDUSTRY-REVIEW AND OUTLOOK
Energy Meter is a critical electronic instrument that is used to measure the amount of electricity consumed by a consumer. At the time when power theft causes substantial loss of revenue to power utilities, it has become Very crucial Instrument for any distribution utility to measure electricity consumption at all level in the distribution network, Smart meter enables the utilities to monitor, audit and do analysis of electricity consumption at all levels in the distribution network including consumer, distribution transformer, feeders and sub-stations and thereby It plays a key role in Identifying weak areas, reducing losses, improving financial and technical health of power utilities.
Indian meter industry is in fast developing phase with the development of Prepaid Meters, Automatic Meter Reading System (AMR), Advanced Metering Infrastructure (AMI), Distribution Transformer Metering, Audit Meter, Sub-Station Meter, find Meters, etc. Meters' manufacturers have ana added many advanced features such as Time of Day (TOD)| tariff, remote communitarian capability, LPR, load profiling and recording of various abnormal system conditions to meet the requirements of the growing and challenging power sector.
With the aim to provide access of electricity to all and bring down the Aggregate Technical and commercial (AT and C) losses to a level of around 15% across the country, the government has taken several Initiatives and initiated reforms such as enactment of the Electricity Act 2003. Rural Electrification Pokey, Re-structured Accelerated Power Developments and Reform Programme ('R-APDRP), Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY), etc.
Metering remains the focal point of all distribution reforms programmes Initiated by the government as it helped the power utilities in sustained loss reduction through monitoring, auditing and analysis of electricity consumption at all levels in the distribution network. Also, it has played a very important role not only in implementation of the government's several initiatives and reform programs such as the Electricity Act 2003, Rural Electrification Policy, R-APDRP, RGGVY, etc and thereby improves the performance of T and D sector but also helped In energy conservation.
However, Indian energy metering Industry has registered a moderate 6.1% growth during the FY 2011-12. In India, the government focus is mainly on escalating the power generation capacity. The power transmission and distribution sector has largely been ignored. There is no matching announcement or Initative with power generation sector lo Improve the Financial and technical capabilities of power utilities in India. Also, there has not been enough investment in this sector. Currently, the Indian distribution companies (discoms] are struggling with huge AT and C losses due to Inadequate investments for system improvement, low metering efficiency, unmetered supply, theft and pilferages. Eve n many power utilities have not enough funds to purchase technically upgraded meters.
This sector has immense growth opportunities and is expected to rise exponentially in the next couple of years. But the sector needs immediate and more attention of the government and that is essential to achieve inclusive growth of the Indian power sector. Indian power utilities need financial assistance for procurement or prepaid meters, AMR based meters, AMI. Meter for Distribution Transformers, Substations and advanced/smart meters for high value customers. This would help the utilities in reduction of AT and C losses and generate better demand or meters.
Further, the several state regulatory commissions and the government's constant thrust an metering of power supply connections through various reform programmes, particularly RGGVY and now RAPDRP has provided momentum to demand for meters. Over the next few years, they expect more funding and attention from government of India through its initiatives for procurement of smart meters In India.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
|
|
|
|
Loans from financial institution |
250.000 |
200.000 |
|
Bill discounting and short term loans |
49.563 |
179.455 |
|
Total |
299.563 |
379.455 |
CONTINGENT
LIABILITIES (TO THE EXTENT NOT PROVIDED FOR):
Rs. In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Counter guarantees given by the Company against Ban k Guarantees issued by banks and against which margin money of Rs.157.207 Millions (Previous Year Rs. 179.636 Millions) was provided In the form of RDRs. |
3758.592 |
3755.455 |
|
Letters of Credit outstanding the end of the year, against which material was to be received and against which margin money of Rs. 13.135 Millions (Previous Year Rs. 53.044Millions) was given in the form of FDRs |
312.836 |
299.217 |
|
Income-tax demands contested in appeals. (In view of the settled case laws, decisions of Appellate Authorities in earlier years' on similar issues in favour of company and/or on rnonts, the management is of the opinion that no material impact is likely to result.) |
73.937 |
465.846 |
|
Disputed demand of excise and service tax against which Rs.12.603 Millions (Previous Year Rs. 5.531 Millions) deposited under protest. (Na provision has been made in accounts since the Company has disputed the said demands and filed the appeals with the respective appellate authorities) |
41.832 |
39.931 |
|
Disputed demand of C5T and VAT against which Rs.13.730 Millions (Previous Yeas Rs. 3.511 Millions) deposited under protest. (In opinion of the management, no provision Is considered necessary for disputed demands on the grounds that there are reasonable chances of successful outcome of appeals filed with the respective appellate authorities.) |
85.631 |
44.622 |
|
Corporate Guarantees to banks / financial Institutions to secure the credit Facilities. |
1450.000 |
1020.000 |
|
Bank Guarantee facility availed from bank for associate |
50.000 |
50.000 |
|
Claims (Net of counter claim filed by the Company) ma de against the Company but not acknowledged as debts as these are not tenable In the opinion of the management of the |
29.810 |
20.812 |
STATEMENT OF
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/NINE MONTHS ENDED 31.12.2012
Rs. In Millions
|
Sr. No. |
Particular |
Quarter Ended |
Nine Months Ended |
|
|
|
|
31.12.2012 |
30.09.2012 |
31.12.2012 |
|
1 |
Income from
Operations |
1940.198 |
1432.839 |
4710.369 |
|
|
Less: Excise Duty |
54.480 |
42.781 |
128.842 |
|
(a) |
Net Sales / Income from Operations (Net of excise duty) |
1885.718 |
1390.058 |
4581.527 |
|
(b) |
Other Operating Income |
34.189 |
55.041 |
90.940 |
|
|
Total income from
Operations (net) |
1919.907 |
1445.099 |
4672.467 |
|
2 |
Expenses |
|
|
|
|
|
a) Cost of Materials consumed |
1280.671 |
1039.104 |
3193.120 |
|
|
b) Purchase of stock-in-trade |
- |
- |
- |
|
|
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
19.100 |
(70.239) |
(90.342) |
|
|
d) Employee benefits expense |
137.451 |
138.529 |
399.691 |
|
|
e) Depreciation & amortisation expense |
27.021 |
20.453 |
66.736 |
|
|
f) Other Expenses |
180.071 |
133.375 |
456.628 |
|
|
Total Expenses |
1644.314 |
1261.222 |
4025.833 |
|
3 |
Profit / (Loss)
from operations before other income, finance costs and exceptional items
(1-2) |
275.593 |
183.877 |
646.634 |
|
4 |
Other Income |
- |
0.036 |
0.036 |
|
5 |
Profit / (Loss)
from ordinary activities before finance costs and exceptional items (3 + 4) |
275.593 |
183.913 |
646.670 |
|
6 |
Finance Costs |
81.016 |
37.711 |
242.023 |
|
7 |
Profit / (Loss) from
ordinary activities after finance costs but before exceptional items (5 - 6) |
194.577 |
146.202 |
404.647 |
|
8 |
Exceptional Items |
- |
- |
- |
|
9 |
Profit / (Loss)
from ordinary activities before tax (7 + 8) |
194.577 |
146.202 |
404.647 |
|
10 |
Tax expense (including deferred tax and MAT credit) |
39.000 |
29.700 |
81.200 |
|
11 |
Net Profit / (Loss)
from ordinary activities after tax (9 - 10) |
155.577 |
116.502 |
323.447 |
|
12 |
Extraordinary items (net of tax expense) |
- |
- |
- |
|
13 |
Net Profit / (Loss)
for the period (11 + 12) |
155.577 |
116.502 |
323.447 |
|
14 |
Paid-up equity share capital (Face Value of Re.1/- each) |
158.907 |
158.907 |
158.907 |
|
15 |
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
- |
- |
- |
|
16 (i) |
Earnings Per Share (before extraordinary items) (of Re.1/- each) (not annualised) (Amount in Rs.) |
|
|
|
|
|
(a) Basic |
0.98 |
0.73 |
2.04 |
|
|
(b) Diluted |
0.98 |
0.73 |
2.04 |
|
16 (ii) |
Earnings Per Share (after extraordinary items) (of Re.1/- each) (not annualised) (Amount in Rs.) |
|
|
|
|
|
(a) Basic |
0.98 |
0.73 |
2.04 |
|
|
(b) Diluted |
0.98 |
0.73 |
2.04 |
|
|
|
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
- Number of Shares |
85004156 |
86056647 |
85004156 |
|
|
- Percentage of shareholding |
53.49 |
54.16 |
53.49 |
|
2 |
Promoters and
Promoter Group Shareholding a) Pledged/ Encumbered |
|
|
|
|
|
► Number of Shares |
3000000 |
3000000 |
3000000 |
|
|
► Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
4.06 |
4.12 |
4.06 |
|
|
► Percentage of shares (as a % of the total share capital of the company) |
1.89 |
1.89 |
1.89 |
|
|
b) Non-Encumbered |
|
|
|
|
|
► Number of Shares |
70902664 |
69850173 |
70902664 |
|
|
► Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
95.94 |
95.88 |
95.94 |
|
|
► Percentage of shares (as a % of the total share capital of the company) |
44.62 |
43.96 |
44.62 |
|
|
|
|
|
|
|
B |
INVESTOR COMPLAINTS |
|
|
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
|
|
Received during the quarter |
1 |
|
|
|
|
Disposed of during the quarter |
1 |
|
|
|
|
Remaining unresolved at the end of the quarter |
Nil |
|
|
Notes:
1 The above results were reviewed by the Audit Committee and taken on record by the Board of Directors in its meeting held on February 14, 2013.
2 The Statutory Auditors of the Company have carried out a Limited Review of the above financial results for the quarter ended 31.12.2012.
3 The Board reviewed the total order book position of worth Rs.7640.000 Millions. The Company has already participated in tenders of more than worth Rs.30000.000 Millions.
4 Finance Costs include 'Forex Fluctuation loss/Income'.
5 Consumption of raw material includes goods purchased for Engineering, Construction and Contracts (Power Projects) Division.
6 Previous Year's figures have been regrouped/rearranged, wherever necessary.
7 The Company is primarily engaged in business of 'Electricity Metering Solutions', 'Engineering, Construction and Contracts (Power Projects)', 'UPS' and 'Inverters' therefore, the figures shown above relate to Power segment.
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Wind Power Project
· Dies and moulds
· Furniture and Fixtures
· Vehicles
· Office Equipments
· Computers
AS PER WEBSITE
CORPORATE PROFILE
Subject, an ISO 9001: 2000 Public Limited Company
forms an integral part of the reputed 300million USD Kailash Group. The company
primarily deals in manufacturing and distribution of Electronic Energy Meters,
Power Distribution Management Projects, Hybrid microcircuits, Inverters,
Batteries, Home UPS and Online UPS across India as well as globally.
Equipped with avant-grade facilities and a team of highly qualified and
experienced scientists, it is committed to develop complex technologies at an
affordable price. It's top-notch R and D laboratory, approved by the Ministry
of Science and Technology, Government of India, has enabled the company to
dominate the power infrastructure and electronics segment's engineering domain.
As a step forward Genus launched IT enabled Distribution Transformer Metering System, Feeder Monitoring and Management System, Meter integrated with Automatic power factor controller, Smart Street Light Management System with value added software application for providing end-to-end solutions for energy management. The high-end software developed by Genus transformed the way metering was done earlier. Genus is in the process of introducing Smart Meters and be a part of Smart Grid transformation taking place globally and in India.
Affordable and Quality power is the dream of every man. At Genus, we are a team which has learnt to dream big, a dream to enable quality power in each home and control T and D losses for utilities. We have the potential, and the people to make our dreams come true. We are a true Power Infrastructure company.
We are “Genus” – the class of mankind who think differently. We are the changing face of new India, Globally.
PRESS RELEASE
Genus Power Infrastructures Limited
"Energizing Lives "
Q3 Sales Up 31% and Net Profit Up 403%
Order Book at Rs.7640.000 Millions and Tenders Bids at Rs.30000.000
Millions
Genus Power Infrastructures Limited ("the Company" or "Genus"), one of the largest manufacturers of smart electricity metering systems, power back-up systems and undertaking ECC (Power Projects) on turnkey basis, reported its financial results for the quarter/nine months ended December 31, 2012.
Results overview -
Quarter ended December 31, 2012 v/s December 31, 2011:
Sales increased by 31% to Rs.1940.200 Millions from Rs.1482.200 Millions reported in the corresponding three months ended December 31, 2011.
Profit After Tax increased by 403% to Rs.155.600 Millions from Rs.30.900 Millions reported in the corresponding three months ended December 31, 2011.
· (PAT for quarter ended December 31, 2011 was badly impacted because of Forex Fluctuation loss)
EPS for the quarter is Rs.0.98. (Face Value of Share: Re.1)
Results overview -
Nine Months ended December 31, 2012 v/s December 31, 2011:
Sales slightly decreased by around 3% to Rs.4710.400 Millions from Rs.4841.400 Millions reported in the corresponding nine months ended December 31, 2011.
Profit After Tax increased by 45% to Rs.323.400 Millions from Rs.222.300 Millions reported in the corresponding nine months ended December 31, 2011.
EPS for nine months is Rs.2.04.
Other Key
Perspectives:
Order book is Rs.7640.000 Millions.
The Company has participated in tenders of more than worth Rs.30000.000 Millions.
Recently the Company has engaged superstar Shahrukh Khan as the brand ambassador for its products like Sine Wave Inverters, UPS, Solar Inverters, batteries.
Commenting on the
results, Mr. R. K. Agarwal, ED and CEO, Genus Power Infrastructures Limited,
said
We have achieved a tremendous growth in sales and net profit. Our strong performance has been driven by growth across various segments with improved earnings through better productivity.
With the continuous focus on technology advancement on the back of the full fledged in-house R and D laboratory, we are confident of consistent top line and bottom line growth in coming years. All efforts are being made to strengthen the businesses to leverage future opportunities.
We expect the association of superstar Shahrukh Khan with Genus as the brand ambassador would propel Genus to newer heights.
About 'Genus Power
Infrastructures Limited':
(BSE Code: 530343; NSE Symbol: GENUSPOWER, Bloomberg: GOE@IN, Reuters: GEOE.BO)
Genus, led by Mr. I.C. Agarwal, manufactures High-end Programmable Multi-functional Intelligent Single Phase and Three Phase Electronic Energy Meters with in-built advanced security and anti-tamper feature, AMR enabled meters, Industrial/Sub-station/Agricultural/Audit Meters, Group Meters, Grid Meters, Pre-payment Meters, Digital Panel Meters, Distribution Transformer Metering System, Smart Street Lighting System, Solar Hybrid Inverters, Static Inverters, On-line UPS and Batteries. Genus also undertakes turnkey 'Engineering, Construction and Contracts' projects in Power sector.
The Company has state-of-the-art manufacturing facilities at Jaipur and Haridwar (a tax free zone). It has full fledged in-house R and D laboratory (recognized by the Government of India and accredited by 'National Accreditation Body for Testing Labs' (NABL)) which enable it self-sufficient in technology up-gradation, innovation activities and providing customized solutions to its customers.
Genus, with an installation base of over 178 million meters, is a leader in advanced power metering solutions. Its customers include leading private electricity utilities (Reliance, Tata Power, Torrent Power, CESC, etc.), public sector units (NTPC, NHPC, Power Grid Corporation, etc.) and almost all state electricity boards.
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 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.54.17 |
|
|
1 |
Rs.82.45 |
|
Euro |
1 |
Rs.70.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
59 |
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.