|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE UTILITIES AND POWER PRIVATE LIMITED (w.e.f. 25.10.2008) |
|
|
|
|
Formerly Known
As : |
RELIANCE UTILITIES AND POWER LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation
: |
04.01.1991 |
|
|
|
|
Com. Reg. No.: |
04-51130 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1320.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100GJ1991PTC051130 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Generation and Distribution of Power |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 150000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Reliance Utilities Private Limited’. It is
a well-established and a reputed company having a fine track record. The financial position of the company is sound and healthy. Directors
are well – experienced and knowledgeable businessmen. Trade relations are trustworthy. Business is active. Payment term are
regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: AAA |
|
Rating Explanation |
Highest degree of safety and lowest credit risk. |
|
Date |
19 April, 2013 |
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. Rajesh |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-29770000 |
|
Date : |
25.05.2013 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-29770000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
3rd Floor, Maker Chambers IV, 222 Nariman Point,
Mumbai-400021, |
|
Tel. No.: |
91-22-22785500 |
|
Fax No.: |
91-22-22785560 |
|
E-Mail : |
|
|
|
|
|
Refinery and Manufacturing
Facilities: |
Located at
|
DIRECTORS
As on 31.12.2012
|
Name : |
Mr. Kamal Pantilal Nanavaty |
|
Designation : |
Director |
|
Address : |
61, Radheya Plot No.359, |
|
Date of Birth/Age : |
22.11.1945 |
|
Date of Appointment : |
19.02.1996 |
|
DIN No.: |
00001580 |
|
|
|
|
Name : |
Mr. Satish Ramanlal Parikh |
|
Designation : |
Director |
|
Address : |
6 Neeta Apartment, |
|
Date of Birth/Age : |
12.01.1955 |
|
Date of Appointment : |
04.02.2005 |
|
DIN No.: |
00094560 |
|
|
|
|
Name : |
Mr. Virender Kumar Gandhi |
|
Designation : |
Director |
|
Address : |
15/1101, Seawoods Estates NRI Complex, Sector-54, 56 and 58, Palm
Beach Road, Nerul, Navi Mumbai-400706, Thane, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1955 |
|
Date of Appointment : |
07.01.2002 |
|
DIN No.: |
00012921 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Mr. Dinesh Poosraj Lahoti |
|
Designation : |
Secretary |
|
Address : |
Flat No. 502, A Wing, Garden Court CHS Limited, Behind Temba Hospital Road,
Bhayandar (West), Thane – 401101, Maharashtra, India |
|
Date of Birth/Age : |
23.09.1983 |
|
Date of Appointment : |
14.02.2012 |
|
PAN No.: |
ABYPL8355J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Industries Limited, India
|
|
5200000 |
|
Reliance Industries Holding Private Limited, India |
|
14800000 |
|
|
|
|
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on 31.12.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Generation and Distribution of Power |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
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|
|
|||||||||
|
Bankers : |
|
|||||||||
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|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai-400021, |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Ultimate Holding company: |
CIN: U51100GJ2005PTC046468 |
|
|
|
|
Holding company: |
CIN: U45102GJ1997PLC031906
CIN: U99999GJ2000PTC050444 |
|
|
|
|
Fellow Subsidiary Company: |
CIN: U45102GJ1997PLC031906
CIN: U67120MH2007PTC168436
CIN: U65999MH2007PTC168431
CIN: U67120MH2007PTC168012
vL17110MH1973PLC019786
CIN: U60300GJ1999PLC040064 |
|
|
|
|
Associate: |
CIN: U45300GJ1999PLC036347 |
|
|
|
|
Subsidiary company: |
CIN: U65910MH2000PTC211633 |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000000 |
Equity Shares |
Rs.1/- each |
Rs.2500.000 Millions |
|
10000000 |
Preference Shares |
Rs.100/- each |
Rs.1000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.3500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1832458346 |
Equity Shares |
Rs.1/- each |
Rs.1832.458
Millions |
|
|
|
|
|
As on 30.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
Rs.1/- each |
Rs. 1500.000 Millions |
|
10000000 |
Preference Shares |
Rs.100/- each |
Rs.1000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1320088000 |
Equity Shares |
Rs.1/- each |
Rs. 1320.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1320.100 |
1320.100 |
1320.088 |
|
|
2] Share Application Money |
512.400 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
35334.600 |
28376.200 |
27761.182 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
37167.100 |
29696.300 |
29081.270 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13873.200 |
2805.800 |
4608.426 |
|
|
2] Unsecured Loans |
10000.000 |
15000.000 |
15000.000 |
|
|
TOTAL BORROWING |
23873.200 |
17805.800 |
19608.426 |
|
|
DEFERRED TAX LIABILITIES |
231.600 |
231.900 |
211.130 |
|
|
|
|
|
|
|
|
TOTAL |
61271.900 |
47734.000 |
48900.826 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16534.500 |
8044.500 |
9467.304 |
|
|
Capital work-in-progress |
44.600 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
15198.300 |
15023.800 |
15002.289 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
474.600
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1868.200
|
364.400 |
220.688 |
|
|
Cash & Bank Balances |
2.700
|
2.800 |
2.946 |
|
|
Other Current Assets |
203.600
|
203.600 |
203.555 |
|
|
Loans & Advances |
40669.800
|
27228.500 |
26652.967 |
|
Total
Current Assets |
43218.900
|
27799.300 |
27080.156 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
285.800
|
2.300 |
4.065 |
|
|
Other Current Liabilities |
13430.700
|
3121.600 |
2239.966 |
|
|
Provisions |
7.900
|
9.700 |
404.892 |
|
Total
Current Liabilities |
13724.400
|
3133.600 |
2648.923 |
|
|
Net Current Assets |
29494.500
|
24665.700 |
24431.233 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
61271.900 |
477734.000 |
48900.826 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
NA |
NA |
NA |
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10526.100 |
4295.700 |
3411.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3366.600 |
1785.900 |
1205.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7159.500 |
2509.800 |
2205.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2458.700 |
244.700 |
288.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4700.800 |
2265.100 |
1917.000 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
609.400 |
472.200 |
353.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4091.400 |
1792.900 |
1563.300 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14587.200 |
13585.500 |
12390.900 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
793.400 |
791.200 |
368.800 |
|
|
|
Interim Dividend |
70.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
17815.200 |
14587.200 |
13585.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.10 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.88
|
8.15 |
7.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.08 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.64
|
0.60 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
8.87 |
10.22 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
285.800
|
2.300 |
4.065 |
|
Total |
285.800
|
2.300 |
4.065 |
|
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 |
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note: Registered office of the company has been
shifted from Motikhavdi P.O. Digvijaygram, Jamnagar - 361140, Gujarat, India to the present address w.e.f 16.07.2008
OPERATIONAL
REVIEW:
During the year, the company has continued to supply Steam, Power and
Process Boiler Feed water without interruption to Refinery and Manufacturing
Facilities at Jamnagar and Hazira. These power stations are functional on
islanded mode
UNSECURED LOAN
|
PARTICULARS |
30.06.2012 (Rs.
in Millions) |
30.06.2011 (Rs.
in Millions) |
|
Debentures |
10000.000 |
15000.000 |
|
Total |
10000.000 |
15000.000 |
FIXED ASSETS
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.55.61 |
|
|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
68 |
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.