MIRA
INFORM REPORT
|
Report Date : |
16.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
WIND WORLD (INDIA) LIMITED (w.e.f. 01.01.2013) |
|
|
|
|
Formerly Known
As : |
ENERCON (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 33, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2007 (Unaudited) |
|
|
|
|
Date of
Incorporation : |
22.05.2003 |
|
|
|
|
Com. Reg. No.: |
56-003236 (New) 071899 (Old) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 72.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200DD2003PLC003236 (New) U74999MH1993PTC071899 (Old) |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRE00726F SRTE00116E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Wind Mills. |
|
|
|
|
No. of Employees
: |
5348 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 18360000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
management has not filed its financials after the year 2006. Also, the management
remains non co-operative and denied to part any information about the
company. However, business is active. Payments are unknown. The company can be considered for business dealings with some caution. Note: The company has been defaulted in payment of custom/excise
duties in the year 2009. |
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 |
CARE |
|
Rating |
BBB (Long term) |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk |
|
Date |
March, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ (Short term) |
|
Rating Explanation |
Moderate degree of safety it carry higher
credit risk |
|
Date |
March, 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 DECLINED
Management Non - Cooperative
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. 33, Daman Patalia Road, Bhimpore, Daman – 396 210, Daman and
Diu, India |
|
Tel. No.: |
91-260-2220624 / 2221219 / 2221220 / 2220321 / 2220628 |
|
Fax No.: |
91-260-2221508 / 67020083 |
|
E-Mail : |
admin@mumbai.enercon-india.com vijay.poddar@enercon.net |
|
Website: |
www.enerconindia.net |
|
Location
: |
Leased |
|
|
|
|
Corporate Office : |
Tower Plot No. A - 9, CTS No. 700, Veera Industrial Estate, Veera
Desai Road |
|
Tel No.: |
91-22-66924848 |
|
Fax No.: |
91-22-66990940 |
|
Email : |
|
|
|
|
|
Factory 2 : |
Concrete Tower
Factory : Plot No 610 / 611, Village Sadodar, Taluka : Jamjodapur, District
Jamnagar – 360520, Gujarat, India |
|
Tel. No.: |
91-2898-262372 / 262545 / 262547 |
|
Fax No.: |
91-2898-262374 |
|
|
|
|
Branch Office /Marketing Office: |
Located At: · Pune · Chennai · Bangalore · Hyderabad · Coimbatore · Ahmedabad · Jaipur · New Delhi · Vadodara |
DIRECTORS
As on 30.09.2007
|
Name : |
Mr. Yogesh
Jogindernath Mehra |
|
Designation : |
Managing Director |
|
Address: |
201, Hare Krishna, Presidency Society, |
|
Date of
Birth/Age : |
01.12.1959 |
|
Qualification |
B.Com |
|
Date of
Appointment: |
10.05.1993 |
|
|
|
|
Name : |
Mr. Ajay
Jogindernath Mehra |
|
Designation : |
Whole Time Director |
|
Address: |
301, Hare Krishna, Presidency Society, |
|
Date of
Birth/Age : |
06.12.1955 |
|
Qualification |
B.Sc |
|
Date of
Appointment: |
10.05.1993 |
|
|
|
|
Name : |
Mr. Kettwing Hans
Dieter |
|
Designation : |
Director |
|
Address: |
Dreekamp-5,
26605, Indian Address |
|
Date of
Birth/Age : |
23.11.1957 |
|
Date of
Appointment: |
11.03.2002 |
|
|
|
|
Name : |
Mr. Aloys Wobben |
|
Designation : |
Chairman |
|
Address: |
Dreekamp-5,
26605, Indian Address |
|
Date of
Birth/Age : |
22.01.1952 |
|
Date of
Appointment: |
24.02.1944 |
KEY EXECUTIVES
|
Name |
Mr. Manoranjan
Karmakar |
|
Designation |
Company Secretary |
|
Address: |
Flat No.1404, Raj
Manor, B Wing, |
|
Date of Birth |
29.04.1956 |
|
Date of
Appointment: |
12.09.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2007
|
Names of Shareholders |
|
No. of Shares |
|
Enercon |
|
4032000 |
|
Mehra J Sudarshan |
|
896000 |
|
Mehra J Ajay |
|
680000 |
|
Mehra Ajay Meenakshi |
|
432000 |
|
Mehra J Yogesh |
|
832000 |
|
Mehra Yogesh Radhika |
|
304000 |
|
Mehra Ajay Sitakshi |
|
16000 |
|
Mehra Ajay Siddharth |
|
8000 |
|
Total |
|
7200000 |
As on 30.09.2007
Equity Share Break up (Percentage of Total Equity)
|
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 |
56.00 |
|
Directors or relatives of Directors |
44.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Wind Mills. |
|
|
|
|
Products : |
·
Wind
Mills Accessories and Parts ·
Rotor
Blade |
GENERAL INFORMATION
|
No. of Employees : |
5348 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad – 380006, Gujarat, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India · IDFC Limited, KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamilnadu, India ·
The Royal Bank of Scotland N.V. Hansalaya
Building, 15, Barakhamba Road, New Delhi - 110001, India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Note 1. Secured Loans from banks and financial
institutions are secured against hypothecation of current assets, equitable mortgage
of land and building at Daman, hypothecation of Movable Fixed Assets of Unit
I, Unit II, Concrete Tower Facility, Pledged of Investments in Enercon Wind
Farms (India) Limited and personal guarantee form the Indian Directors. 2. Loan from Infrastructure Development
Finance Company Limited is secured by:
i.
A First charge by way of hypothecation/
mortgage over all the moveable and immovable assets (including tangible and
intangible present and future) of the erstwhile GIWFL (Amalgamated company),
pertaining to Wind Farms.
ii.
A First Chare by way of assignment of the
right and interest of the erstwhile GIWFL (Amalgamated Company), as the case
may be, to and under all project documents.
iii.
A First charge by way of assignment of the
right, title and interest of the erstwhile GIWFL (Amalgamated Company) to and
under all the government permits, licenses, authorization, insurance
contracts relating to project assets.
iv.
An Exclusive chare on all the receivables of
the erstwhile GIWFL (Amalgamated Company).
3. The vehicle loans, Plant and Machinery
Loans and Office Equipments Loans under lease obligations are secured against
hypothecation of the respective assets. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
12, Dr. Annie
Besant Road, Opposite Shivsagar Estate, Worli, Mumbai – 400 018, Maharashtra,
India |
|
PAN.: |
AACFD4815A |
|
|
|
|
Holding Company : |
Enercon |
CAPITAL STRUCTURE
As on 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity shares |
Rs.10/- each |
Rs.90.000 Millions |
|
1500000 |
9% Non Convertible Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.240.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7200000 |
Equity Shares |
Rs.10/- each |
Rs.72.000 Millions |
|
|
|
|
|
(Out of the above, 403200 Equity Shares of
Rs.10/- each full paid up are held by Enercon GmbH – Holding Company)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
72.000 |
117.000 |
162.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4519.135 |
3750.109 |
2586.611 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4591.135 |
3867.109 |
2748.611 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5453.288 |
3283.564 |
2015.284 |
|
|
2] Unsecured Loans |
2851.413 |
569.024 |
1315.492 |
|
|
TOTAL BORROWING |
8304.701 |
3852.588 |
3330.776 |
|
|
DEFERRED TAX LIABILITIES |
500.014 |
385.014 |
208.280 |
|
|
|
|
|
|
|
|
TOTAL |
13395.850 |
8104.711 |
6287.667 |
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5105.044 |
2887.111 |
1200.538 |
|
|
Capital work-in-progress |
845.537 |
698.843 |
89.163 |
|
|
|
|
|
|
|
|
Pending Allocation |
0.000 |
0.000 |
1.105 |
|
|
|
|
|
|
|
|
INVESTMENT |
2340.748 |
1178.294 |
1071.608 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5469.493
|
3438.058
|
3951.785 |
|
|
Sundry Debtors |
4116.311
|
3967.497
|
4085.839 |
|
|
Cash & Bank Balances |
2391.528
|
2097.460
|
261.249 |
|
|
Other Current Assets |
42.362
|
26.835
|
7.301 |
|
|
Loans & Advances |
4007.577
|
2183.166
|
1350.682 |
|
Total
Current Assets |
16027.271
|
11713.016
|
9656.856 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2414.126 |
1300.108 |
5373.948 |
|
|
Other Current Liabilities |
7897.847
|
6911.184
|
|
|
|
Provisions |
610.777
|
161.261
|
357.655 |
|
Total
Current Liabilities |
10922.750
|
8372.553
|
5731.603 |
|
|
Net Current Assets |
5104.521
|
3340.463
|
3925.253 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
13395.850 |
8104.711 |
6287.667 |
|
%20LIMITED%20-%20207296%2016-Jan-2013_files/image001.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
21457.490 |
16726.763 |
8831.890 |
|
|
|
Other Income |
1084.541 |
150.946 |
72.098 |
|
|
|
TOTAL (A) |
22542.031 |
16877.709 |
8903.988 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
16834.365 |
12801.055 |
0.000 |
|
|
|
Manufacturing and Other Expenses |
3611.004 |
2067.835 |
1461.222 |
|
|
|
Consumption of Raw material and Bought out components |
0.000 |
0.000 |
7933.113 |
|
|
|
Increase / Decrease in Finished Goods |
0.000 |
0.000 |
(1590.162) |
|
|
|
TOTAL (B) |
20445.369 |
14868.89 |
7804.173 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2096.662 |
2008.819 |
1099.815 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
801.827 |
439.600 |
269.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1294.835 |
1569.219 |
829.955 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
333.013 |
150.891 |
80.731 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
961.822 |
1418.328 |
749.224 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
189.239 |
233.739 |
174.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
772.583 |
1184.589 |
575.024 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2353.147 |
1149.524 |
587.397 |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT OF
PROFIT/LOSS OF AMALGAMATING COMPANIES (NET) |
0.000 |
27.116 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Preference Dividend |
3.040 |
7.088 |
11.138 |
|
|
|
Corporate Dividend Tax on Proposed
Preference Dividend |
0.517 |
0.994 |
1.759 |
|
|
BALANCE CARRIED
TO THE B/S |
3122.173 |
2353.147 |
1149.524 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
63.50 |
163.40 |
78.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
PAT / Total Income |
(%) |
3.43
|
7.02 |
6.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.48
|
8.48 |
8.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.55
|
9.71 |
6.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.37 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.19
|
3.16 |
3.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.40 |
1.68 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs. In
Millions
|
Particular |
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
Due to Enercon GMBH –holding Company |
(73.966) |
87.824 |
NA |
|
Others |
2488.092 |
1212.284 |
NA |
|
Total |
2414.126 |
1300.108 |
NA |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
change of address:
The address of the Registered Office of company has been shifted from Kolsite House, Plot No. 31, Shah Industrial
Estate, Veera Desai Road, Andheri (West), Mumbai - 400 053, Maharashtra, India to the Present
address w.e.f. 22.05.2003
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate identity number of the company |
U31200DD2003PLC003236 |
|
Name of the company |
ENERCON (INDIA) LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Plot No. 33, Daman Patalia Road, Bhimpore, Daman – 396 210, Daman and
Diu, India |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
The Royal Bank of Scotland N.V. Hansalaya Building, 15, Barakhamba Road,New Delhi - 110001, India |
|
Nature of instrument creating charge |
Deed of Hypothecation dated 23rd July 2012 |
|
Date of instrument Creating the charge |
23.07.2012 |
|
Amount secured by the charge |
Rs. 160.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest
As per the loan documents executed
between the company and the bank Terms of
Repayment As per the loan documents executed
between the company and the bank Margin As per the loan documents executed
between the company and the bank Extent and
Operation of the charge The charge operates as a Third charge by way of the Deed of
Hypothecation executed on 23rd July 2012 in favour of the Bank , on the
entire Movable fixed assets, both present and future, of the Company more
specifically described of the enclosed DOH, as security interalia for the due
repayment by the Company to RBS for the Term loan of Rs.160.000 millions
together with all secured obligations and other money payable by the Company
to RBS |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Third Charge on the Entire movable assets of the Company, both Present
and Future of the enclosed Deed of hypothecation dated 23.07.2012 |
UNSECURED LOANS
|
Particular |
As on 31.03.2007 (Unaudited) Rs. in millions |
As on 31.03.2006 (Unaudited) Rs. in millions |
|
From Banks |
|
|
|
Short Term Loans (Repayable within
one year Rs. Nil (previous year Rs.100.000 millions) |
0.000 |
100.000 |
|
Long Term Loan (Repayable within
one year Rs.100.000 Millions (Previous Year Rs.NIL) |
300.000 |
300.000 |
|
|
|
|
|
Long Term Indian Currency
Loans – SBI Bank (Repayable within
one year Rs.30.000 Millions Previous
year Rs. Nil) |
302.739 |
0.000 |
|
Long Term Foreign
Currency Loans – ICICI Bank (Repayable within
one year Rs. Nil Previous year Rs.
Nil) |
869.587 |
0.000 |
|
|
|
|
|
From Financial Institutions |
|
|
|
Short Term (Repayable within
one year Rs.336.800 Millions Previous year Rs. Nil) |
336.800 |
0.000 |
|
b) From Foreign Financial Institutions |
|
|
|
Short Term
Foreign Currency Loan (Repayable within
one year Rs.927.559 Millions (Previous year Rs. Nil)) |
927.559 |
0.000 |
|
Long Term Foreign
Currency Loan (Repayable within
one year Rs.38.243 Millions (Previous year Rs.51.342 Millions) |
114.728 |
169.024 |
|
Total |
2851.413 |
569.024 |
Note
i.
Unsecured
Loans from Foreign Financial Institutions are guaranteed by corporate guarantee
of Holding Company and the personal guarantee form the Indian Directors. Unsecured
Loans from Local Banks are guaranteed by the personal guarantee from the Indian
directors.
ii.
Long
Term Loan From State Bank of India and ICICI Bank are secured term loans as per
the agreements entered into with the respective banks. However, pending
creation of charge on the security and registration of the same with ROC, same
has been classified as unsecured loan.
Fixed Assets
Owned Assets
·
Free
·
Building
·
Plant and Machinery
·
Wind Energy Converter
·
Sub Station
·
Furniture, Fixture and Office Equipments
·
Vehicles
Leased Assets
·
Plant and Machinery
·
Vehicles
·
Office 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.54.54 |
|
|
1 |
Rs.87.69 |
|
Euro |
1 |
Rs.72.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
7 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.