1. Summary Information
|
|
|
Country |
India |
|
Company Name |
NUPOWER TECHNOLOGIES LIMITED |
Principal Name 1 |
Deepak Virendra Kochhar |
|
Status |
Yet to commence business |
Principal Name 2 |
Sunil Kailashchand Bhuta |
|
|
|
Registration # |
11-211742 |
|
Street Address |
618, Maker Chambers V, Nariman Point, Mumbai – 400021, |
||
|
Established Date |
03.01.2011 |
SIC Code |
-- |
|
Telephone# |
91-22-66325132 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-22-22875584 |
Business Style 2 |
Assembling |
|
Homepage |
Product Name 1 |
Wind Turbine Generators |
|
|
# of employees |
Not Divulged |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
73,900,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 100% |
Banking |
Not Divulged |
|
Public Limited Corp. |
No |
Business Period |
2 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
-- |
Nupower Renewables Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
16,605,000 |
Current Liabilities |
4,802,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
436,230,000 |
|
Fixed Assets |
726,000 |
Other Liabilities |
796,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
441,828,000 |
|
Invest& other Assets |
483,105,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
58,608,000 |
|
Total Assets |
500,436,000 |
Total Liab. & Equity |
500,436,000 |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
0,000 |
Net Profit/ Loss |
(15,292,000) |
|
Sales (Previous yr) |
-- |
Net Profit
(Prev.yr) |
-- |
|
Report Date : |
26.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
NUPOWER TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
618, Maker Chambers V, Nariman Point, Mumbai – 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.01.2011 |
|
|
|
|
Com. Reg. No.: |
11-211742 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 73.900
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29268MH2011PLC211742 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN18596E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCN4987F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Assembling of Wind
Turbine Generators. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 234000 |
|
|
|
|
Status : |
Yet to commence business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company incorporated in the year 2011. The company is yet to
commence it’s commercial operation. Management remained non co-operative
denied to disclose any information. Payment terms are unknown. The company can be considered for business dealings with some
caution. |
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 |
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 BY
|
Name : |
Mr. Atul Itkarkar |
|
Contact No.: |
91-22-66325132 |
|
Date : |
25.07.2013 |
LOCATIONS
|
Registered Office : |
618 Maker Chambers V, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-66325132 |
|
Fax No.: |
91-22-22875584 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
DIRECTORS
AS ON 30.06.2012
|
Name : |
Mr. Deepak Virendra Kochhar |
|
Designation : |
Director |
|
Address : |
45, CCI Chambers, 5th Floor, Opposite CCI Club, Dinshaw
Vachha Road, Churchgate, Mumbai – 400020, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1961 |
|
Qualification : |
MBA |
|
Date of Appointment : |
03.01.2011 |
|
DIN No.: |
00602907 |
|
|
|
|
Name : |
Mr. Sunil Kailashchand Bhuta |
|
Designation : |
Director |
|
Address : |
C-15, Omshri Alkapuri Society, Linking Road, Jayraj Nagar, Borivali
(West), Mumbai – 400092, |
|
Date of Birth/Age : |
16.07.1968 |
|
Qualification : |
B.Com., FCA |
|
Date of Appointment : |
03.01.2011 |
|
DIN No.: |
03357348 |
|
|
|
|
Name : |
Mr. Prem Gul Rajani |
|
Designation : |
Director |
|
Address : |
11, Palekar Chambers, 4th Floor, Dhobi Talao, Mumbai –
400002, |
|
Date of Birth/Age : |
30.01.1967 |
|
Date of Appointment : |
03.01.2011 |
|
DIN No.: |
00062833 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nupower Renewables Limited, |
|
7389994 |
|
Deepak Kochhar |
|
1 |
|
Bhupinder Singh Bajaj |
|
1 |
|
Prem Gul Rajani |
|
1 |
|
Sunil Bhuta |
|
1 |
|
Shruti Bhuta |
|
1 |
|
Mahesh Chandra Punglia |
|
1 |
|
|
|
|
|
Total |
|
7390000 |
AS ON 30.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Assembling of Wind
Turbine Generators. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st
Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai – 400011, |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKFB4397F |
|
|
|
|
Holding Company : |
Nupower Renewables Limited [U40108MH2008PLC189142] |
CAPITAL STRUCTURE
AFTER 30.06.2012
Authorised Capital : Rs. 550.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 550.000
Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7390000 |
Equity Shares |
Rs. 10/- each |
Rs. 73.900
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
73.900 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(15.292) |
|
|
NETWORTH |
|
|
58.608 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
436.230 |
|
|
TOTAL BORROWING |
|
|
436.230 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
494.838 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.726 |
|
|
Capital work-in-progress |
|
|
483.105 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
11.481 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
5.124 |
|
Total
Current Assets |
|
|
16.605 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.298 |
|
|
Other Current Liabilities |
|
|
3.504 |
|
|
Provisions |
|
|
0.796 |
|
Total
Current Liabilities |
|
|
5.598 |
|
|
Net Current Assets |
|
|
11.007 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
494.838 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.054 |
|
|
|
TOTAL (A) |
|
|
0.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee related expenses |
|
|
5.047 |
|
|
|
Administrative selling other expenses |
|
|
7.165 |
|
|
|
TOTAL (B) |
|
|
12.212 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(12.158) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
3.059 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(15.217) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.075 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
|
(15.292) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
|
(15.292) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
(2.74) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
(28318.52) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(88.23) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.26) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
7.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.97 |
LOCAL AGENCY FURTHER INFORMATION
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
|
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 |
Yes |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
one year |
Yes |
|
12] |
Profitability for last
one year |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
|
|
(Rs. In Millions) |
|
Working capital loans financial institutions unsecured |
90.000 |
|
Other debt unsecured |
345.198 |
|
Interest accrued due other debt unsecured |
1.032 |
|
Total |
436.230 |
BACKGROUND
Subject is a
public company incorporated in
CONTINGENT LIABILITIES
Estimated amount of contract remaining to be executed on capital account
and not provided for Rs 547.771 Millions.
PRESS RELEASE
NUPOWER
TECHNOLOGIES INAUGURATES W2E TECHNOLOGY PRODUCTION FACILITY INDIA
28.05.2013
W2E, as a developer of wind turbines, is the technology provider for NuPower Technologies. With the start of production NuPower Technologies, as an Indian vendor of wind turbines, will achieve an important milestone in the realization of the W2E licence.
In April 2013, Deepak Kochhar (CEO NuPower Technologies) and Christoph Klewitz
(General Manager of Wind to Energy) inaugurated the new production facility. It
is located nearby Bhuj, a city in the north-west of India. In this factory W2E
wind turbines of different MW-classes with different rotor diameters will be
produced. In the beginning the 2.05 MW wind turbine will be assembled with a
rotor diameter of 93 m, which is certified according to GL2010 guideline and
C-WET approved. In the medium term, 3 MW wind turbines will be assembled in the
same location as well.
The production facility, which is equipped with optimized assembly, storage and
office areas, is available for the target production output of NuPower
Technologies. The existing crane capacities will enable a smooth material flow
through the factory. The assembly of the first serial production will be
completed by spring 2014. NuPower Technologies places special emphasis on the
sustainability and quality of the assembled wind turbines.
In contrast to conventional wind turbine vendors NuPower Technologies, as an
Independent Power Producer, will operate all of the assembled wind turbines by
itself. In cooperation with NuPower Technologies, W2E will expand its 2.05 MW
technology and in the summer of 2013, will erect and measure a wind turbine
prototype nearby Rostock with a rotor diameter of 100 m.
With the W2E licenses of 2.05 MW and 3 MW wind turbines which have been
customized to fulfill the Indian conditions, NuPower Technologies is able to
act with a broad product portfolio in the Indian market on basis of sustainable
and innovative W2E technology.
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. 58.94 |
|
|
1 |
Rs. 90.48 |
|
Euro |
1 |
Rs. 77.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.