MIRA INFORM REPORT
|
Report Date : |
27.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PHOTON ENERGY SYSTEMS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.775 - K, Road No.45, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.05.1995 |
|
|
|
|
Com. Reg. No.: |
01-036134 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.19.283 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32103AP1995PLC036134 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDP02168F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP9113B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of SPV Lanterns, SPV Module, IOWP, |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 890000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered normal 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
CRISIL |
|
Rating |
BB = Long Term Rating |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
September 05, 2012 |
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/
Corporate Office : |
Plot No.775 - K, Road No.45, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Tel. No.: |
91- 40-66661337/ 8 /9 /23331337/ 8/ 9 |
|
Fax No.: |
91- 40-66661340 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Head Office : |
Unit 19, Mount View Enclave,
Road No 12, Banjara Hills, Hyderabad
- 500034, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23331337/ 1338/ 1339 |
|
Fax No.: |
91-40-23331340 |
|
E-Mail : |
|
|
|
|
|
Corporate Office
: |
H. No. 8-2-686/DB/19, Mount View Enclave, Road No.12, Banjara Hills,
Hyderabad – 500034, India |
|
Tel. No.: |
91-40-23331337/38/39 |
|
Fax No.: |
91-40-23331340 |
|
Area : |
3000 Sq.fts |
|
Location : |
Rented |
|
|
|
|
Factory : |
Plot No. 46, Anrich Industrial Estate, IDA, Bollarum, Medak District –
502 325, |
|
Tel. No.: |
91-8458-279512/ 281/ 026 |
|
Fax No.: |
91-8458-279842 |
|
Area : |
45000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located
at: No.468, 4th Main, 2nd
Stage, RMV Extension, Email ld : bangalore@photonsolar.in Pune 2337/1 , 16-A, Pune Trade Centre, Kahandve Nagar, Pune - Nagar Road, Waghole,
Pune – 412207, Maharashtra, India Email ld : pune@photonsolar.in #13, Anshul Towers, Sainik Vihar,
Pithampura, New Delhi – 110034, India |
|
|
|
|
Overseas Office
: |
Tel: +27 82 852 9891 Fax: +27 86 687 3769 Email Id: africa@photonsolar.in Website: www.photonsolar.com |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Purushotam Reddy Nalamada |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Plot No. 775-K, Road No. 45, Jubilee
Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
11.07.1936 |
|
Qualification : |
BE and MBA |
|
Date of Appointment : |
01.10.2008 |
|
PAN No.: |
ABNPN8563B |
|
DIN No.: |
00036671 |
|
|
|
|
Name : |
Mr. Chandra Sekhar Reddy Kancharla |
|
Designation : |
Additional Director |
|
Address : |
8-2-293/82/J/111/565/4, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
10.03.1955 |
|
Qualification : |
B S C |
|
Date of Appointment : |
30.09.2003 |
|
DIN No.: |
00523801 |
|
|
|
|
Name : |
Mr. Bhaskar Reddy Pondla |
|
Designation : |
Director |
|
Address : |
15-21-32/ 3, Balaji Nagar, Kukatpally, Rangareddy – 500072, Andhra Pradesh,
India |
|
Date of Birth/Age : |
18.06.1937 |
|
Qualification : |
Electrical Engineering |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00910121 |
|
|
|
|
Name : |
Mr. Nalamada Gautham Kumar |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No. 775-K, Road No. 45, Jubilee
Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
05.03.1968 |
|
Qualification : |
B E ( Mech) and MS (IE) |
|
Date of Appointment : |
18.09.2008 |
|
DIN No.: |
01982637 |
|
|
|
|
Name : |
Mr. Vithalbhai Chhitabhai Bhavsar |
|
Designation : |
Director |
|
Address : |
304, Yadav Paradise, M. G. Road, Secunderabad – 500003, Andhra
Pradesh, India |
|
Date of Birth/Age : |
13.07.1939 |
|
Qualification : |
Doctorate in Mechanical Engineering |
|
Date of Appointment : |
01.10.2003 |
|
DIN No.: |
01982673 |
|
|
|
|
Name : |
Mr. Fajerson Karl Goran |
|
Designation : |
Director |
|
Address : |
Brunnsparken Villa, Bellis 2, Ramlosa 25654 |
|
Date of Birth/Age : |
11.09.1943 |
|
Qualification : |
Master Engineering |
|
Date of Appointment : |
25.01.2005 |
|
DIN No.: |
02013975 |
MAJOR SHAREHOLDERS
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
N. Purushotam Reddy |
|
303400 |
|
R.D. Reddy |
|
59500 |
|
N. Ram Reddy |
|
40000 |
|
N. Usha |
|
70000 |
|
N. Uttam Kumar Reddy |
|
454900 |
|
N. Gautham Kumar |
|
227500 |
|
J. |
|
100000 |
|
Venkat Patla |
|
8000 |
|
K. Babu |
|
15000 |
|
Goran Faierson |
|
50000 |
|
Zhang Xue Xiang |
|
20000 |
|
Analysis Securities Private Limited, India |
|
380000 |
|
The Agricultural Development Commercial Credit and Industrial
Investment Company Private Limited, |
|
168000 |
|
Universities Press ( |
|
16000 |
|
Sangam Book ( |
|
16000 |
|
Total |
|
1928300 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
4.00 |
|
Bodies corporate |
30.00 |
|
Directors or relatives of Directors |
66.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of SPV Lanterns, SPV Module, IOWP, |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
SPV Modules |
KWP |
10.51 |
|
Water Heating Systems and Collctions |
Ltrs |
750100 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Venkateswar Rao and Associates Chartered Accountants |
|
Address : |
6-3-850/ 1, 2nd Floor, Sirisha
Plaza, Ameerpet, Hyderabad - 500016, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23414313/ 39104588 |
|
Mobile No.: |
91-9989024357 |
|
E-Mail : |
|
|
PAN No.: |
ACJPP6287B |
CAPITAL STRUCTURE
As on 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1928300 |
Equity Shares |
Rs.10/- each |
Rs. 19.283 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
19.283 |
19.283 |
|
(b) Reserves & Surplus |
|
204.045 |
178.564 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.117 |
|
Total Shareholders’
Funds (1) + (2) |
|
223.328 |
197.964 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
46.926 |
51.710 |
|
(b) Deferred tax liabilities (Net) |
|
23.164 |
23.426 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
70.090 |
75.136 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
79.241 |
18.964 |
|
(b) Trade payables |
|
1182.653 |
426.866 |
|
(c) Other current liabilities |
|
62.012 |
49.061 |
|
(d) Short-term provisions |
|
19.787 |
11.901 |
|
Total Current
Liabilities (4) |
|
1343.693 |
506.792 |
|
|
|
|
|
|
TOTAL |
|
1637.111 |
779.892 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
215.432 |
96.103 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.727 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
12.466 |
11.256 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
227.898 |
108.086 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
77.547 |
123.979 |
|
(c) Trade receivables |
|
1091.691 |
484.354 |
|
(d) Cash and cash equivalents |
|
170.531 |
21.509 |
|
(e) Short-term loans and advances |
|
32.177 |
33.059 |
|
(f) Other current assets |
|
37.267 |
8.905 |
|
Total Current
Assets |
|
1409.213 |
671.806 |
|
|
|
|
|
|
TOTAL |
|
1637.111 |
779.892 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
17.283 |
|
|
2] Share Application Money |
|
|
0.118 |
|
|
3] Reserves & Surplus |
|
|
156.137 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
173.538 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
21.347 |
|
|
2] Unsecured Loans |
|
|
14.470 |
|
|
TOTAL BORROWING |
|
|
35.817 |
|
|
DEFERRED TAX LIABILITIES |
|
|
25.172 |
|
|
Lease Rental Advances |
|
|
1.481 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
236.008 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
96.589 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
82.963
|
|
|
Sundry Debtors |
|
|
172.959
|
|
|
Cash & Bank Balances |
|
|
42.341
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
15.957
|
|
Total
Current Assets |
|
|
314.220 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
174.801
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
174.801 |
|
|
Net Current Assets |
|
|
139.419
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
236.008 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4285.284 |
1068.958 |
790.011 |
|
|
|
Other Income |
5.194 |
5.014 |
3.652 |
|
|
|
TOTAL
(A) |
4290.478 |
1073.972 |
793.663 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4035.522 |
988.152 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
24.209 |
(31.486) |
|
|
|
|
Employee benefit expense |
29.611 |
25.194 |
|
|
|
|
Expenditure on production, transportation and other expenditure pertaining to E&P activities |
34.601 |
19.118 |
|
|
|
|
Other expenses |
94.967 |
42.345 |
|
|
|
|
TOTAL (B) |
4218.910 |
1043.323 |
762.259 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
71.568 |
30.649 |
31.404 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.025 |
6.688 |
4.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.543 |
23.961 |
27.164 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.284 |
6.677 |
6.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
38.259 |
17.284 |
21.040 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.778 |
5.357 |
6.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
25.481 |
11.927 |
14.070 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5.134 |
28.868 |
45.539 |
|
|
TOTAL EARNINGS |
5.134 |
28.868 |
45.539 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.21 |
6.19 |
7.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.59 |
1.11 |
1.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.89 |
1.62 |
2.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.34 |
2.22 |
5.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.09 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.56 |
0.36 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.33 |
1.80 |
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 |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term
Borrowing |
|
|
|
Term loans from banks |
79.241 |
18.964 |
|
Total |
79.241 |
18.964 |
REVIEW OF OPERATIONS:
Turnover for the year ended 31st March, 2012 was Rs.4285.284 Millions as against Rs. 1068.958 Millions in the previous year. The Net Profit for the year was at Rs.25.482 Millions as against Rs. 11.927 Millions in the previous year. Profitability of the company stretched due to volatility in the solar business, share of profits with JV partners due to working capital constrains for execution of orders, Forex losses and high finance cost during the year. The company is expecting more business in the coming years in domestic market under various schemes.
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10339703
|
04/06/2012
* |
98,320,000.00
|
INDIAN RENEWABLE ENERGY
DEVELOPMENT AGENCY LIMITED |
INDIA HABITAT CENTRE 1ST FLOOR
EAST COURT CORE, 4A LODHI ROAD, NEW DELHI, Delhi - 110003, INDIA |
B41443458
|
|
2 |
90258883
|
14/05/2003
* |
2,619,000.00
|
INDIAN RENEWABLE ENERGY DEVELOPMENT
AGENCY LIMITED |
CORE-4A; EAST COURT; 1ST
FLOOR, INDIA HABITAT CENTRE; LODI ROAD, NEW DELHI, Delhi - 110003, INDIA |
- |
|
3 |
90258802
|
30/05/2002
* |
2,500,000.00
|
INDIAN RENEWABLE ENERGY
DEVELOPMENT AGENCY LIMITED |
CORE-4A; EAST COURT; 1ST
FLOOR, INDIA HABITAT CENTRE; LODI ROAD, NEW DELHI, Delhi - 110003, INDIA |
- |
|
4 |
90258774
|
02/02/2002
* |
5,000,000.00
|
INDIAN RENEWABLE ENERGY
DEVELOPMENT AGENCY LIMITED |
CORE-4A; EAST COURT; 1ST FLOOR,
INDIA HABITAT CENTRE; LODI ROAD, NEW DELHI, Delhi - 110003, INDIA |
- |
|
5 |
90121464
|
12/09/2000
|
55,395,000.00
|
INDIAN RNEWABLE ENERGY
DEVELOPMENT AGENCY LTD |
CORE-4A; EAST COURT 1ST FLOOR,
INDIAN HABITAT CENTRE; LODI ROAD, NEW DELHI, Delhi - 110003, INDIA |
- |
|
6 |
80052657
|
29/05/1998
|
1,622,600.00
|
INDIAN RENEWABEL ENERGY
DEVELOPMENT AGENCY LIMITED |
CORE 4A , EAST COURT 1ST FLOOR
, INDIA HABITAT CENTRE, LODI ROAD , , NEWDELHI, Delhi - 110003, INDIA |
- |
|
7 |
90123965
|
04/06/2011
* |
597,758,000.00
|
DENA BANK |
R P ROAD BRANCH, DUNDOO
CHAMBERS, RASHTRAPATHI ROAD, SECUNDERABAD, Andhra Pradesh - 500003, INDIA |
B17071630
|
|
8 |
90122652
|
31/12/1997
|
6,000,000.00
|
DENA BANK |
R.P.ROAD BRANCH, SECUNDERABAD,
Andhra Pradesh, INDIA |
- |
|
9 |
90258375
|
08/10/2004
* |
19,500,000.00
|
DENA BANK |
R.P. ROAD BRANCH,
SECUNDERABAD, Andhra Pradesh, INDIA |
- |
|
10 |
90120980
|
14/01/2002
* |
53,437,000.00
|
INDIAN RENEWABLE ENERGY
DEVELOPMENT AGENCY LIMITED |
CORE - 4A; EAST COURT; 1ST
FLOOR, INDIA HABITAT CENTRE; LODI ROAD, NEW DELHI, Delhi - 110003, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Buildings
- Land
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
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. 64.23 |
|
|
1 |
Rs.100.10 |
|
Euro |
1 |
Rs.85.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
44 |
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.