|
Report Date : |
08.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL WIND POWER LIMITED (w.e.f. 20.02.2008) |
|
|
|
|
Formerly Known as: |
GLOBAL WIND POWER PRIVATE LIMITED (w.e.f. 05.10.2007) MUKTIDAYA CONSULTANCY SERVICES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
301, Satellite Silver, |
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|
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Country : |
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|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
23.02.2007 |
|
|
|
|
Com. Reg. No.: |
11-168078 |
|
|
|
|
Paid-up Capital
: |
Rs. 312.390 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74140MH2007PLC168078 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
SRTG01581G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECM9752G |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer and Exporter of Wind Mill Generators and Turbine |
|
|
|
|
No. of Employees
: |
560 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Unknown |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is promoted by the Reliance ADA Group It is an established company having moderate track record. Latest
financial are not available. Mr. Mukesh, finance manager provided with us general
information and denied to disclose financial details. From the available
financials of the year 2010, it seems that the company has recorded some
accumulated losses. Profitability of the company seems to be under pressure.
However, trade relations are reported as fair. Business is active. Payments
terms are unknown. The company can be considered for business dealings with some
cautions. Note: Due to technical error in the government sites, we hereby provide you
the report with available details and we would provide you with a on the same
company as soon as we get the additional information. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB: Fund Based Limits |
|
Rating Explanation |
The inadequate credit quality. It carry high credit risk |
|
Date |
May, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4: Non Fund Based Limits |
|
Rating Explanation |
The risk prone credit quality. It carry high credit risk. |
|
Date |
May, 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.
INFORMATION PARTED BY (GENERAL INFORMATION)
|
Name : |
Mr. Mukesh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-39918500 |
|
Date : |
08.02.2013 |
LOCATIONS
|
Registered
Office / Factory: |
301, Satelite Silver, |
|
Tel. No.: |
91-22-39918500 |
|
Fax No. : |
91-22-39918521 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3000sq.fts |
|
Location : |
Owned |
|
|
|
|
Head Office : |
15, |
|
Tel No. : |
91-44-39182618 |
|
|
|
|
Factory 1 : |
24/1, 26-27-28, 358/2/2/3, 359/1,
|
|
Area : |
50 Acres |
|
Location : |
Owned |
|
|
|
|
Overseas Office
: |
Amsterdamseweg 204 A, 1182 HL |
|
Tel. No.: |
+ 31 20 4260 923 |
|
Fax No. : |
+ 31 20 4260 901 |
|
E-Mail : |
DIRECTORS
AS ON 30.11.2010
|
Name : |
Mr. Prakash Pandurang Khedekar |
|
|
Designation : |
Director |
|
|
Address : |
103 Swaraj Palace, Plot 12/13 Sector 12D, Koparkhairane, Navi Mumbai –
400 709, Maharashtra, India |
|
|
Date of Birth/Age : |
02.03.1974 |
|
|
Date of Appointment : |
23.02.2007 |
|
|
DIN No.: |
01260382 |
|
|
|
|
|
|
Name : |
Mr. Vikash Girdhari Lal Singhla |
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|
Designation : |
Director |
|
|
Address : |
270, Old Anaj Mandi, Tohana, DT Fatehabad, Haryana – 125
120, Punjab, India |
|
|
Date of Birth/Age : |
20.10.1982 |
|
|
Date of Appointment : |
29.05.2009 |
|
|
DIN No.: |
02658710 |
|
|
|
|
|
|
Name : |
Mr. Pramod Sinkar Satam |
|
|
Designation : |
Director |
|
|
Address : |
401, Akshata Apartment, Gogate Wadi Road, Off Aarey Road, Goregaon (East),
Mumbai-400063, Maharashtra, India |
|
|
Date of Birth : |
16.05.1971 |
|
|
Date of Appointment : |
27.05.2010 |
|
|
DIN No.: |
03076723 |
|
KEY EXECUTIVES
|
Name : |
Mr. V S Navin |
|
Designation : |
Company Secretary |
|
Address : |
Old #2, New # 3, Rajaji Nagar, Chennai – 600049,
Tamilnadu, India |
|
Date of Birth/Age : |
19.06.1979 |
|
Date of Appointment : |
01.06.2009 |
|
|
|
|
Name : |
Mr. R Ravishankar |
|
Designation : |
Manager |
|
Address : |
20/1, |
|
Date of Birth/Age : |
02.03.1963 |
|
Date of Appointment : |
04.08.2009 |
|
|
|
|
Name : |
Mr. Mukesh |
|
Designation : |
Deputy Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.11.2010
|
Names of Shareholders |
|
No. of Shares |
|
Equity Shares |
|
|
|
Abhijit Banerjee |
|
1 |
|
Ashish Karyekar |
|
1 |
|
Divyesh Dalal |
|
1 |
|
Ramesh Shenoy |
|
1 |
|
Shivangi Samani |
|
1 |
|
K Latha |
|
25 |
|
B Rekha Flat |
|
69 |
|
V Satish Kumar |
|
72 |
|
Abhishek Loonker |
|
100 |
|
|
|
100 |
|
Malini Agarwal |
|
111 |
|
Bhawar Singh |
|
200 |
|
Janardan Mitta Pallavi |
|
200 |
|
Vasanta Kumar |
|
200 |
|
Chandanbala Jain |
|
266 |
|
Kamna Jain |
|
266 |
|
Ruchi Jain |
|
266 |
|
Sadhana Ora |
|
266 |
|
Nirav Dolatrai |
|
267 |
|
Bharathi Ponde |
|
277 |
|
Rakesh Kumar Jain |
|
306 |
|
Santosh Kumar Ora |
|
306 |
|
Shrenik Kumar Jain |
|
320 |
|
Kamala Agarwal |
|
347 |
|
Sanjay Agarwal |
|
444 |
|
G Rajagopalan |
|
500 |
|
Bijen C . Shah |
|
625 |
|
Jatin A. Shah |
|
625 |
|
Sanil Jatin Shah |
|
625 |
|
Shikha Jatin Shah |
|
625 |
|
Vidya Ganapathy Sivaraman |
|
800 |
|
Nikhil Khandelwal |
|
980 |
|
Narasimha Rao Koppuravuri |
|
1000 |
|
Somanchi Naga Raja Rao |
|
1000 |
|
Anjana P Harikar |
|
1133 |
|
Chetan A. Shah |
|
1250 |
|
Sheela C. Shah |
|
1250 |
|
Alka Gopal Khatri |
|
1333 |
|
Gopal C Khatri |
|
1333 |
|
|
|
1333 |
|
Bharati C Ajmera |
|
1350 |
|
Champa Devi |
|
1500 |
|
Venugopalan Parandhaman |
|
1500 |
|
Vinita Ramadevi |
|
1500 |
|
Prem Gul Rajani |
|
1600 |
|
Ramanathan Ganesh |
|
1744 |
|
Nikhil Gholani |
|
2000 |
|
Manish Kishore Vora |
|
2266 |
|
Goldfin Capital Private Limited Liability Company Limited – |
|
2666 |
|
|
|
2666 |
|
Sushil Kumar Maroo |
|
2777 |
|
Vikram M Bhatt |
|
3333 |
|
Vandana Berkos Desai |
|
3350 |
|
Indu K Jain |
|
3999 |
|
Bhavita Manish Parikh |
|
4666 |
|
Powersurfer Interactive India Private Limited – |
|
4995 |
|
Atul J Agarwal Mercator Lines Limited – |
|
5000 |
|
Sonata Investments Limited – |
|
5000 |
|
Pallavi R |
|
5040 |
|
Farida Asif Petiwala |
|
5200 |
|
Satyen D Shah |
|
5347 |
|
Protos Engineers Company Private Limited – |
|
5400 |
|
Kusum Khandelwal |
|
5833 |
|
Ashok Reddy P |
|
6500 |
|
Umanath Investment Private Limited – |
|
6500 |
|
Vaasatva Advisors Private Limited – |
|
6555 |
|
Brescon Corporate Advisors Limited – |
|
6660 |
|
Mukesh Jain |
|
6805 |
|
Vajubhai Lallubhai Shah |
|
8263 |
|
P V |
|
10000 |
|
Parvesh Gandotra |
|
10000 |
|
Rita S Kothari |
|
10000 |
|
Vivek Mundra |
|
10000 |
|
Ratna Suresh Jain |
|
12100 |
|
Elesh Anubhai Gopani |
|
13333 |
|
Nikhil Vora |
|
13333 |
|
Mukul Mahavir Prasad Agarwal |
|
13350 |
|
Jeevraj Singhi |
|
13611 |
|
Anagha Investment Private Limited – |
|
13888 |
|
Goutam Bhailal Doshi |
|
13900 |
|
Keshav Bansal |
|
14400 |
|
Chetan Jain |
|
14583 |
|
Vishesh Jain |
|
14583 |
|
Ronak Iqbal Lakhani |
|
15000 |
|
Balkrishna Gopiram Goenka |
|
20000 |
|
K R Bharat |
|
20000 |
|
Methodical Investment Trading Company Private Limited – |
|
20000 |
|
Paragraph Securities Private Limited – |
|
20000 |
|
Rajiv Maheshvari |
|
20000 |
|
Sanjay Jagdish Pddar |
|
20000 |
|
Pradeep Sandeep Trading and Investment – |
|
20416 |
|
Syntex Corporation Private Limited – |
|
20416 |
|
MC Jain Infoservices Private Limited – |
|
26500 |
|
Findeal Investments Private Limited – |
|
27268 |
|
Ashwin Kumar Kothari |
|
27708 |
|
Jagdish N Master |
|
27708 |
|
Hawa Bilkis Zubair |
|
40800 |
|
Satyamitra Stock
Consultants Private Limited – |
|
49444 |
|
Paresh Navnitlal
Bhagat |
|
50000 |
|
Sudarshan Fiscal
Services Private Limited – |
|
58333 |
|
Index Equities
Private Limited – |
|
80000 |
|
Principal Holdings
( |
|
100000 |
|
Superstar Exports
Private Limited – |
|
156503 |
|
Pacific Corporate
Services Limited – |
|
180555 |
|
Blue Diamond
Properties Private Limited – |
|
194444 |
|
Naishadh Jawahar
Paleja |
|
200000 |
|
Dhananjaya Money
Management Services – |
|
214963 |
|
Tprvet.E L Ltidn.E
Asia Master Fund ( |
|
400000 |
|
Quantum (M)
Limited – |
|
475000 |
|
Lata Bhanshali |
|
634166 |
|
Rajni Jain |
|
658500 |
|
Sudharshan
Securities Private Limited – |
|
705416 |
|
Reliance Capital
Limited – |
|
1440000 |
|
Total |
|
6239061 |
|
|
|
|
|
Preference Shares: |
|
|
|
Sonata Investments
Limited, India |
|
250000000 |
|
|
Total |
250000000 |
AS ON 07.02.2011
|
Name of
Allottees |
No. of Shares |
|
Reliance Capital
Limited |
720000 |
|
Reliance Share
and Stock Brokers Private Limited |
2250833 |
|
Reliance Net
Limited |
1000000 |
|
Total |
3970833 |
AS ON 30.11.2010
|
Equity Share
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
14.26 |
|
Bodies corporate |
53.62 |
|
Other top fifty shareholders |
31.88 |
|
Others |
0.24 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Wind Mill Generators and Turbine |
|
|
|
|
Exports : |
|
|
Products : |
Wind Mill Generators |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 and 60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 and 60 days) |
PRODUCTION STATUS AS ON 31.03.2010
Licensed and
installed capacities
Licensed Capacity - As per the Industrial Policy declared in July 1991, as amended in April 1993, no licences are required for the products manufactured by the Company.
Installed Capacity - The installed capacities are not precisely ascertainable, given the nature of operations, changes in product mix and utilisation of manufacturing facilities; and hence, have not been disclosed.
GENERAL INFORMATION
|
Supplier : |
Verge Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
End Users · Ridhi Siddhi Gluco Biols Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
560
(Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Tel No.: 91-22-24252525
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Malpani and Associates Chartered Accountants |
|
Address : |
307, Chartered House 297/299, |
|
|
|
|
Associates : |
·
Norwin A/S |
|
|
|
|
Subsidiary : |
|
|
|
|
|
Sister Concern : |
|
CAPITAL STRUCTURE
AS ON : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16000000 |
Equity Shares |
Rs. 10/- each |
Rs. 160.000 million |
|
490000000 |
Preference Shares |
Rs. 1/- each |
Rs. 490.000 millions |
|
|
Total |
|
Rs.
650.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6239061 |
Equity Shares |
Rs. 10/- each |
Rs. 62.390 million |
|
250000000 |
Zero Coupon Non
Cumulative Redeemable Preference Shares |
Rs. 1/- each |
Rs. 250.000 millions |
|
|
Total |
|
Rs.
312.390 Millions |
AFTER 30.11.2010
Authorised Capital : Rs. 650.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 417.099
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
312.390 |
312.390 |
285.841 |
|
|
2] Share Application Money |
603.000 |
603.000 |
5.701 |
|
|
3] Equity Share Warrants Issued and Subscribed |
325.000 |
325.000 |
0.000 |
|
|
4] Reserves & Surplus |
249.162 |
249.162 |
142.964 |
|
|
5] (Accumulated Losses) |
[468.890] |
[52.308] |
[9.266] |
|
|
NETWORTH |
1020.662 |
1437.244 |
425.240 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2460.665 |
1901.683 |
0.000 |
|
|
2] Unsecured Loans |
50.000 |
0.000 |
280.000 |
|
|
TOTAL BORROWING |
2510.665 |
1901.683 |
280.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.00 |
|
|
|
|
|
|
|
|
TOTAL |
3531.327 |
3338.927 |
705.240 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1335.587 |
1288.491 |
78.141 |
|
|
Capital work-in-progress |
1336.085 |
29.552 |
98.216 |
|
|
|
|
|
|
|
|
INVESTMENT |
120.486 |
937.620 |
377.593 |
|
|
DEFERREX TAX ASSETS |
3.411 |
3.411 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
675.408
|
1176.916
|
0.000 |
|
|
Sundry Debtors |
87.775
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
119.388
|
107.609
|
33.074 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
164.140
|
109.448
|
150.651 |
|
Total
Current Assets |
1046.711
|
1393.973
|
183.725 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
177.170
|
284.518
|
17.365 |
|
|
Other Current Liabilities |
129.605
|
26.025
|
13.267 |
|
|
Provisions |
4.178
|
3.577
|
1.803 |
|
Total
Current Liabilities |
310.953
|
314.120
|
32.435 |
|
|
Net Current Assets |
735.758
|
1079.853
|
151.290 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3531.327 |
3338.927 |
705.240 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1037.642 |
0.000 |
0.000 |
|
|
|
Other Income |
28.634 |
2.580 |
1.851 |
|
|
|
TOTAL (A) |
1066.276 |
2.580 |
1.851 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
985.852 |
0.000 |
0.000 |
|
|
|
Manufacturing, Administrative and Other Expenses |
160.729 |
18.115 |
10.615 |
|
|
|
Employee Cost |
47.530 |
1.192 |
0.000 |
|
|
|
TOTAL (B) |
1194.111 |
19.307 |
10.615 |
|
|
|
|
|
|
|
|
Less |
PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
(127.835) |
(16.727) |
(8.764) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
239.036 |
27.596 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(366.871) |
(44.323) |
(8.764) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.711 |
1.390 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(416.582) |
(45.713) |
(8.764) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(2.671) |
0.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(416.582) |
(43.042) |
(9.264) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(52.308) |
(9.266) |
(0.002) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(468.890) |
(52.308) |
(9.266) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.834 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
1.834 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
64.570 |
587.029 |
0.000 |
|
|
|
Stores & Spares |
0.000 |
0.492 |
0.000 |
|
|
|
Capital Goods |
0.151 |
108.935 |
0.000 |
|
|
TOTAL IMPORTS |
64.721 |
696.456 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(66.77) |
(7.84) |
(33.76) |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
2500.000 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs. 6000.000 millions
The above information has been parted by Mr. Mukesh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(39.07)
|
(1668.29)
|
(500.48) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(40.15)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.48)
|
(1.68)
|
(0.32) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
40.81
|
(0.03)
|
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.76
|
1.54
|
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.37
|
4.44
|
5.66 |
|
|
|
|
|
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
177.170 |
284.518 |
17.365 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE
The registered office address of the company has been shifted 7th
Floor, Raheja Point – I, Jawaharlal Nehru Marg, Vakola Market, Santacruz
(East), Mumbai – 400055, Maharashtra, India to 402, Satelite Silver, Opposite
Honda Showroom, Andheri Kurla Road, Marol , Andheri (East), Mumbai – 400 056,
Maharashtra, India w.e.f. 25.09.2007
The registered office address of the company has been shifted from 402,
Satelite Silver, Opposite Honda Showroom, Andheri Kurla Road, Marol , Andheri
(East), Mumbai – 400 056, Maharashtra, India to present w.e.f 21.01.2009.
OPERATIONS
The Company achieved income from operation of Rs.1037.600 Millions as against zero income in the previous year. However, the Company incurred a net loss after tax of Rs.416.600 Millions as compared to net loss after tax of Rs.52.300 Millions in the previous year. The loss in current year was mainly on account of interest and finance charges, higher inventory cost, tough economic conditions and cost of market entry.
Further during the year the company was successful in following areas
1. Tower manufacturing plant
The tower manufacturing plant is now recognized as a state-of-the-art plant by domestic and international Wind Turbine Generators (WTGs) manufacturers. Company has therefore increased utilization of the plant by securing orders from WTG manufacturers such as Vestas, General Electric (GE) Energy, and Kenersys.
2. 750 KW WTGs
Company has till date installed 40 WTGs of 750 KW and has received its single biggest order for supply and commissioning of additional 40 WTGs of 750 KW. Site in Madhya Pradesh is secured and order for a 6 MW wind farm with 8*750kW WTGs has been received there. Company has completed shipping and installation of its first export order of 750KW WTG to UK.
3. 2MW WTGs
The 2 MW generator manufacturing plant construction activities have been completed. Company has also completed installation of its first Prototype 2 MW WTG in Germany in December 2009 and has installed Second Prototype in India in September, 2010.
|
UNSECURED LOAN |
RS.
IN MILLIONS AS
ON 31.03.2010 |
RS.
IN MILLIONS AS
ON 31.03.2009 |
|
Short Term Loan and Advances – From Others [Repayable within one year Rs.50.000 Millions (Previous Year Rs. Nil)] |
50.000 |
0.000 |
|
Total |
50.000 |
0.000 |
TRADE REFERENCES:
· Verge Limited
· Ridhi Siddhi Gluco Biols Limited
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Computers
·
Software’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 53.14 |
|
|
1 |
Rs. 83.27 |
|
Euro |
1 |
Rs. 71.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.