MIRA INFORM REPORT
|
Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZF WIND POWER COIMBATORE LIMITED (w.e.f. 04.04.2012) |
|
|
|
|
Formerly Known
As : |
HANSEN DRIVES LIMTIED |
|
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|
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Registered
Office : |
Plot No.3, Hi Tech Engineering and Service Sector, SEZ Annur Road,
Karumathampatty and Kittampalayam, Coimbatore – 641659, Tamilnadu |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
20.12.2006 |
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|
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|
Com. Reg. No.: |
18-013294 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 6995.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28112TZ2006PLC013294 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBH0358F |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCH8089G |
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|
|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of wind turbine and gearbox. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 11000000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “HANSEN DRIVES Pte Limited”, SINGAPORE. It is an established company having a moderate track record. There appears
huge accumulated losses recorded by the company. The external borrowing seems
to be huge. However, the capital base of the company seems to be strong. The
subject gets strong support from its holding companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow. 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sathyaraj |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9361753442 |
|
Date : |
27.06.2013 |
LOCATIONS
|
Registered Office / Factory: |
Plot No.3, Hi Tech Engineering and Service Sector, SEZ Annur Road, Karumathampatty
and Kittampalayam, Coimbatore – 641659, Tamilnadu, India |
|
Tel. No.: |
91-425-4306000/4306001 |
|
Mobile No.: |
91-9361753442 (Mr. Sathyaraj) |
|
Fax No.: |
91-425-4306021 |
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E-Mail : |
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|
Location : |
Owned |
DIRECTORS
As on 25.09.2012
|
Name : |
Mr. Jan Willem Ruinemans |
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Designation : |
Director |
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|
Address : |
Curacaolaan 19, 1213 VJ. Hilversum, Netherlands - 1213 |
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Date of Birth/Age : |
04.11.1969 |
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Date of Appointment : |
01.02.2011 |
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DIN No.: |
03506863 |
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Other Directorship:
|
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Name : |
Mr. Suresh Kizhakke Variam |
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Designation : |
Whole-time director |
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|
Address : |
B-91 Sreevatsa Gardens, 7/31-A, Mettupalayam Road, Thudi Yalur,
Coimbatore – 641034, Tamilnadu, India |
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|
Date of Birth/Age : |
20.02.1967 |
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Date of Appointment : |
01.11.2010 |
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DIN No.: |
00550459 |
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Other Directorship:
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|
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|
Name : |
Mr. Piyush Jinedra Kumar Munot |
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|
Designation : |
Director |
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Address : |
294, Sindh Housing, Society, Aundh, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
05.05.1978 |
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Date of Appointment : |
12.06.2012 |
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DIN No.: |
00119507 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Sridhar Suryanarayanan |
|
Designation : |
Secretary |
|
Address : |
2BA, 2NC Floor, Balasubramaya Naagr, Peelamedu Anna Nagar, Coimbatore
– 641004, Tamilnadu, India |
|
Date of Birth/Age : |
15.08.1968 |
|
Date of Appointment : |
01.06.2008 |
|
PAN No.: |
AEFPS3810P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hansen Drives Pte. Limited, Singapore |
|
699499994 |
|
Alex Joseph De Ryck Joint/With ZF Wind Power Antwerpen NV, Belgium |
|
1 |
|
Kirti Kumar Jasvantlal Vagadia Joint/With ZF Wind Power Antwerpen NV,
Belgium |
|
1 |
|
Suresh KV Joint/With ZF Wind Power Antwerpen NV, Belgium |
|
1 |
|
ZF Wind Power Antwerpen NV, Belgium |
|
1 |
|
Hansen Wind Energy Drives (China) Company Limited, Tianjin |
|
1 |
|
Hansen Drives Limited, Hong Kong |
|
1 |
|
|
|
|
|
Total |
|
699500000 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2012
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of wind turbine and gearbox. |
|
|
|
|
Exports : |
|
|
Products : |
Gearbox |
|
Countries : |
European Countries |
|
|
|
|
Imports : |
|
|
Products : |
Components |
|
Countries : |
European Countries |
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|
|
|
Terms : |
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|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit and Depend |
GENERAL INFORMATION
|
Customers : |
Others |
|
|
|
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
Not Available |
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|
|
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Facilities : |
-- |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Yerwada, Pune -411006,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Ultimate Holding company: |
ZF Wind Power Antwerpen NV, Belgium (Formerly Hansen Transmission
International NV. Belgium), Belgium |
|
|
|
|
Holding company: |
Hansen Drives Pte. Limited, Singapore |
|
|
|
|
Fellow Subsidiary company: |
ZF wind power Tianjin Co Limited (Formerly Hansen Wind Energy Drives
(China) Company Limited) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
Rs.10/- each |
Rs. 15000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
699500000 |
Equity Shares |
Rs.10/- each |
Rs. 6995.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
6995.000 |
3995.000 |
|
(b) Reserves & Surplus |
|
(4276.990) |
(2243.049) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2718.010 |
1751.951 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
4595.829 |
6874.522 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
1494.874 |
0.000 |
|
(d) long-term
provisions |
|
4.694 |
3.378 |
|
Total Non-current
Liabilities (3) |
|
6095.397 |
6877.900 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
3271.079 |
1552.717 |
|
(b) Trade
payables |
|
3212.216 |
3578.286 |
|
(c) Other
current liabilities |
|
1644.350 |
1227.353 |
|
(d) Short-term
provisions |
|
0.536 |
0.369 |
|
Total Current
Liabilities (4) |
|
8128.181 |
6358.725 |
|
|
|
|
|
|
TOTAL |
|
16941.588 |
14988.576 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
8373.789 |
10421.374 |
|
(ii)
Intangible Assets |
|
0.290 |
0.601 |
|
(iii)
Capital work-in-progress |
|
50.726 |
146.645 |
|
(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 |
|
101.393 |
127.272 |
|
(e) Other
Non-current assets |
|
61.761 |
82.490 |
|
Total Non-Current
Assets |
|
8587.959 |
10778.382 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3180.269 |
1360.615 |
|
(c) Trade
receivables |
|
5035.892 |
2686.760 |
|
(d) Cash
and cash equivalents |
|
53.971 |
76.299 |
|
(e)
Short-term loans and advances |
|
69.467 |
71.597 |
|
(f) Other
current assets |
|
14.030 |
14.923 |
|
Total
Current Assets |
|
8353.629 |
4210.194 |
|
|
|
|
|
|
TOTAL |
|
16941.588 |
14988.576 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3995.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(1104.762) |
|
|
NETWORTH |
|
|
2890.238 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
8278.624 |
|
|
TOTAL BORROWING |
|
|
8278.624 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
11168.862 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
11362.173 |
|
|
Capital work-in-progress |
|
|
71.910 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1580.023
|
|
|
Sundry Debtors |
|
|
998.936
|
|
|
Cash & Bank Balances |
|
|
225.470
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
546.506
|
|
Total
Current Assets |
|
|
3350.935
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
689.249
|
|
|
Other Current Liabilities |
|
|
2924.616
|
|
|
Provisions |
|
|
2.291
|
|
Total
Current Liabilities |
|
|
3616.156
|
|
|
Net Current Assets |
|
|
(265.221)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
11168.862 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5212.041 |
3492.494 |
2174.660 |
|
|
|
Other Income |
13.976 |
(6.307) |
739.205 |
|
|
|
TOTAL (A) |
5226.017 |
3486.187 |
2913.865 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2952.764 |
2202.595 |
|
|
|
|
Purchases of stock-in-trade |
556.890 |
274.886 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(624.764) |
(255.373) |
|
|
|
|
Employee benefit expense |
225.663 |
180.925 |
|
|
|
|
Other expenses |
544.555 |
312.033 |
|
|
|
|
TOTAL
(B) |
3655.108 |
2715.066 |
2124.474 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1570.909 |
771.121 |
789.391 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1235.186 |
876.237 |
708.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
335.723 |
(105.116) |
80.999 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2369.663 |
1033.172 |
540.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(2033.940) |
(1138.288) |
(459.101) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
(0.734) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(2033.941) |
(1138.288) |
(458.367) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2243.049) |
(1104.761) |
(646.394) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(4276.990) |
(2243.049) |
(1104.761) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(4.66) |
(2.85) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(38.92)
|
(32.65) |
(15.76) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(39.02)
|
(32.65) |
(21.11) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.04)
|
(7.67) |
(13.70) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.75)
|
(0.65) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.89
|
4.81 |
2.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
0.66 |
0.93 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered office of the company has been
shifted from Plot No. 3, Suzlon Infrastructure Limited-SEZ, Annur Road,
Karumathampatty and Kittampalayam,Tamilnadu, India to the present address w.e.f 01.12.2009
FINANCIAL RESULT
During the year, the Company has earned sales income of Rs. 5212.040
Millions (Previous year Rs. 3492.494 Millions) and other income Rs. 24.869
Millions (Previous year Rs. 4.676 Millions). After providing for depreciation,
finance charges and deferred tax the Company has incurred Net Loss of Rs.
2033.941 Millions (Previous year Rs. 1138.288 Millions).
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures intercorporate |
1000.000 |
3000.000 |
|
Foreign currency term loans from banks |
3595.829 |
3874.522 |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
505.005 |
703.494 |
|
Loans repayable on demand from banks |
2543.485 |
849.223 |
|
Other loans and advances |
222.589 |
0.000 |
|
Total |
7866.908 |
8427.239 |
FIXED ASSETS
- Land
- Buildings
- Factory
building
- Plant and
equipment
- Factory
equipments
- Other plant
and equipment
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
equipments
Intangible assets
- Computer
software
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.59.70 |
|
|
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.