MIRA
INFORM REPORT
|
Report Date : |
24.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
HBL POWER SYSTEMS LIMITED (w.e.f.09.12.2006) |
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Formerly Known
As : |
HBL NIFE POWER SYSTEMS LIMITED (w.e.f.26.04.2000) SAB NIFE POWER SYSTEMS LIMITED |
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Registered
Office : |
8-2-601, Road No. 10, Banjara Hills, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
29.08.1986 |
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Com. Reg. No.: |
01-006745 |
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Capital
Investment / Paid-up Capital : |
Rs. 253.000
Millions |
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CIN No.: [Company Identification
No.] |
L40109AP1986PLC006745 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDH00591D |
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PAN No.: [Permanent Account No.] |
AAACH8421K |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer, Design and Development of
specialized Batteries and DC Systems and Associated Electronics. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 21800000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “Bearer Engineering and Holdings Limited,
Hyderabad”. It is an established company having a satisfactory track record. The company has seen a significant increase in its sales turnover as
well as net profitability during 2013. The ratings also take into consideration the infusion of equity in its
holding company which has been extended to the subject in the form of interest
free unsecured loans. Trade relations are fair. Business is active. Payment terms are
reported as regular. In view of long standing experience of the promoters and established
track record of operations, the company can be considered normal 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.
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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic product.
High imports of gold and oil led to a worsening of the traqde
deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from
$ 16.9 billion in the corresponding quarter of the previous financial year. The
government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from
4.8 % or $ 88.2 billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been named
the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $
24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali
expenditure by 40 % and on average spend nearly 25 % of their monthly salary on
Diwali, according to a survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
October 08, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A2+ |
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Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
October 08, 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.
LOCATIONS
|
Registered/ Head Office : |
8-2-601, Road No. 10, Banjara Hills,
Hyderabad – 500034, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23355575/ 23351934/ 23355085 |
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Fax No.: |
91-40-23355048/ 23353189 |
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E-Mail : |
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Website : |
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Factory 1 : |
Aliabad Post, Lalgadi Malakpet,
Shameerpet Mandal, R.R.
District, Hyderabad - 500078, Andhra Pradesh, India |
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Tel. No.: |
91- 8418-244640 |
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Fax No.: |
91- 8418-244627/ 244574 |
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Factory 2 : |
Survey No. 64-67, 77-81, Nandigaon Village, Kothur Mandal - 509223, Mahaboobnagar District, Andhra Pradesh, India |
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Tel. No.: |
91-8548-240456 |
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Fax No.: |
91-8548-240474 |
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Factory 3 : |
Survey No. 351, Thumukunta Village, Shameerpet Mandal, Rangareddy District, Hyderabad - 500078, Andhra Pradesh,
India |
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Tel. No.: |
91-8418-247680 |
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Fax No.: |
91-8418-247683 |
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Factory 4 : |
Sy No 155 to 156 (Post) Bhootpur
(Village and Mandal), Mahaboobnagar
District, Andhra Pradesh, India |
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Tel. No.: |
91-8542-236539/ 236205 |
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Factory 5 : |
Sy 123-126, 138(p) to 144(p), Kandivasala Village, Pusapatirega
Mandal, Vizayanagaram
District, Andhra Pradesh, India |
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Tel. No.: |
91-8922-258159 |
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Factory 6 : |
Plot No. Q6 to Q10, R1 to R10 S1 to S9, Phase III, VSEZ, Duvvada, Visakhapatnam -
530046, Andhra Pradesh, India |
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Tel. No.: |
91-891-2543255-56 |
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Factory 7 : |
Plot No. 1, Sector 8A, IIE Ranipur (BHEL Haridwar - 249403, Uttarakhand,
India |
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Tel. No.: |
91-1334-235420/ 235421 |
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Factory 8 : |
Plot No. 425, Sector - 8, IMT Manesar, Gurgaon - 122050, Haryana, India |
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Tel. No.: |
91-124-4783333/ 4783 322 |
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Fax No.: |
91-124-4783300 |
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Sales Offices : |
Located at: Ř
Kolkata Ř
Bhubneshwar Ř
Guwahati Ř
Ranchi Ř
Raipur Ř
Patna Ř
Raigarh Ř
Odisha Ř Delhi Ř
Manesar Ř
Lucknow Ř
Jaipur Ř
Bhopal Ř
Chandigarh Ř
Mumbai Ř
Ahmedabad Ř
Baroda Ř
Hyderabad Ř
Vijayawada Ř
VIZAG Ř
Chennai Ř
Kochi Ř Bangalore |
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Overseas Sales Offices : |
Located at: Ř USA Ř Kingdom of Saudi Arabia Ř
Germany |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Dr. A.J. Prasad |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. M S S Srinath |
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Designation : |
Director |
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Date of Birth/Age : |
23.04.1969 |
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Qualification : |
BA (Economic Hons) |
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Expertise in specific functional area : |
Overall the Marketing
activities and other administrative affairs of the company. |
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Date of Appointment : |
24.11.1997 |
|
Other Directorship : |
· Beaver Engineering & Holdings Limited Kairos Engineering
Limited Naval Systems and Technologies Private Limited Igarashi Motors India Limited |
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Name : |
Mrs. Kavita Prasad |
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Designation : |
Director |
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Date of Birth/ Age : |
11.12.1971 |
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Qualification : |
B Com, PGDCA |
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Date of Appointment : |
10.05.2000 |
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Name : |
Mr. P. Ganapathi Rao |
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Designation : |
Director |
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Name : |
Mrs. Preeti Khandelwal
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Designation : |
Director |
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Name : |
Mr. V.V.S. Ravindra |
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Designation : |
IDBI Nominee Director w.e.f. 25th June, 2012 |
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Date of Birth/ Age : |
18.01.1964 |
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Qualification : |
B Tech (Chemical) |
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Date of Appointment : |
25.06. 2012 |
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Name : |
Mr. Sanjiv Singhal |
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Designation : |
Director |
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Date of Birth/ Age : |
23.03.1967 |
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Qualification : |
MBA from the Wharton
Business School (USA), MA with distinction from the University of Essex, UK
and BA with honours from Delhi University. |
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Date of Appointment : |
14.08.2012 |
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Name : |
Mr. Ajay Bhaskar Limaye |
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Designation : |
Director |
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Date of Birth/Age : |
20.05.1969 |
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Qualification : |
CFA Charter
holder with prior qualification as an Engineer with an MBA in Finance |
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Expertise in specific functional area : |
Over 18 years of
experience in the investment industry in India. During this period, he has
been involved in managing various types of funds including Private Equity
Fund (diversified growth capital), Venture Capital fund, Technology Fund,
Infrastructure Fund and Special Situations Fund, besides listed market
investments. |
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Date of Appointment : |
14.02.2013 |
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Other Directorship : |
Data Patterns (India) Private Limited |
KEY EXECUTIVES
|
Name : |
M V S S Kumar |
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Designation : |
Company Secretary |
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Audit Committee : |
· P Ganapathi Rao, Chairman of the Committee Kavita Prasad V V S Ravindra Preeti Khandelwal |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Category of
Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
43922580 |
17.36 |
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|
143059443 |
56.55 |
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|
186982023 |
73.91 |
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Total shareholding of Promoter and Promoter Group (A) |
186982023 |
73.91 |
|
(B) Public Shareholding |
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|
|
|
|
|
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|
1612539 |
0.64 |
|
|
5000 |
0.00 |
|
|
17707299 |
7.00 |
|
|
19324838 |
7.64 |
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|
|
|
|
|
17907464 |
7.08 |
|
|
|
|
|
|
22215748 |
8.78 |
|
|
4970221 |
1.96 |
|
|
1599706 |
0.63 |
|
|
963603 |
0.38 |
|
|
154583 |
0.06 |
|
|
481520 |
0.19 |
|
|
46693139 |
18.46 |
|
Total Public shareholding (B) |
66017977 |
26.09 |
|
Total (A)+(B) |
253000000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
253000000 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Design and Development of
specialized Batteries and DC Systems and Associated Electronics. |
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Products/ Services : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
|
Lead Acid Batteries |
Mil Ah |
1640 |
|
Nickel Cadmium Batteries |
Mil Ah |
85 |
|
Chargers / Rectifiers |
Nos |
3500 |
|
Lithium Thionyl Chloride Cells |
Nos |
11000 |
|
Others |
|
In view of the items being manufactured as per the customers orders it is not possible to ascertain installed capacity |
|
Particulars |
Unit |
Actual Production |
|
Lead Acid Batteries |
Lac AH |
6,480.47 |
|
Nicad |
Nos |
40,692 |
|
Silver Zinc |
Nos |
18,500 |
|
Lithium |
Nos |
46 |
|
Nickel Cadmium Pocket Plate Batteries |
Lac AH |
738.54 |
|
Electronic Charges/Rectifiers |
Nos |
4,642 |
|
|
Nos |
1,343 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· State Bank of India State Bank of Hyderabad IDBI Bank Limited Axis Bank Limited ICICI Bank Limited Exim Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors 1 : |
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|
Name : |
Satyanarayana and Company Chartered Accountants |
|
Address : |
Amar Mansion, Ranigunj, Secunderabad – 500003, Andhra Pradesh, India |
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Auditors 2 : |
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|
Name : |
Rao and Kumar Chartered Accountants |
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Address : |
10-19-15, Soudamani, Seripuram, CBM Compound, Visakhapatnam – 530003, Andhra Pradesh, India |
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Cost Auditors : |
|
|
|
Narasimha Murthy and Company Cost Accountants |
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|
Hyderabad, Andhra Pradesh, India |
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Holding Company : |
Beaver Engineering and Holdings Limited, Hyderabad |
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Subsidiaries : |
· Agile Electric Sub Assembly (Private) Limited SCIL Infracon Private Limited HBL Germany, GMBH HBL America HBL Suntech LLP |
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|
Step Down Subsidiaries of Subsidiary : |
· Igarshi Motors India Limited Igarshi Motors Sales
(Private) Limited |
|
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Joint Venture : |
Gulf Batteries Company Limited, Kingdom of Saudi Arabia |
|
|
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Controlled Companies : |
Kairos Engineering Limited, Hyderabad |
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|
|
|
Associate : |
· Naval Systems and Technologies Private Limited Guided Missile Engineering India Private Limited |
|
|
|
|
Companies which Directors are Interested : |
Sankhya Infotech Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Re. 1/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
253000000 |
Equity Shares |
Re. 1/- each |
Rs. 253.000
Millions |
|
|
|
|
|
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period
|
|
31.03.2013 |
|
|
Equity Shares |
No. of Shares |
Rs. in Millions |
|
At the beginning of the period |
253000000 |
253.000 |
|
Issued during the period |
-- |
-- |
|
Outstanding at the end of the period |
253000000 |
253.000 |
Terms/rights
attached to equity shares
The company has
only one class of equity shares having a par value of Re.1 per share. Each
holder of equity shares is entitled to one vote per share. The company declares
and pays dividends in Indian rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting.
Shares held by
holding/ultimate holding company
Out of equity shares issued by the company, details of shares held by
its holding company is as below :
|
Name of the Shareholder |
31.03.2013 |
|
|
No. of Shares |
|
Beaver Engineering and Holdings Limited |
143059443 |
Details of shareholders holding more than 5% shares in the company
|
Name of the
Shareholder |
31.03.2013 |
|
|
Equity shares of Re.1 each fully paid |
No. of Shares |
% holding in the class |
|
Beaver Engineering and Holdings Limited |
143059443 |
56.55 |
|
A J Prasad |
27654500 |
10.93 |
|
Citigroup Global Markets Mauritius Private Limited |
16701761 |
6.60 |
|
Reliance Capital Limited |
14360000 |
5.68 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
253.000 |
253.000 |
253.000 |
|
(b) Reserves and Surplus |
5207.660 |
5047.324 |
4995.415 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
5460.660 |
5300.324 |
5248.415 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3353.162 |
3339.009 |
3876.108 |
|
(b) Deferred tax liabilities (Net) |
225.142 |
195.142 |
74.242 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
15.872 |
15.867 |
0.000 |
|
Total Non-current
Liabilities (3) |
3594.177 |
3550.019 |
3950.350 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3217.240 |
3263.361 |
2233.212 |
|
(b)
Trade payables |
1922.144 |
1379.768 |
1541.828 |
|
(c)
Other current liabilities |
2099.968 |
2135.838 |
1436.102 |
|
(d) Short-term
provisions |
137.859 |
117.238 |
111.958 |
|
Total Current
Liabilities (4) |
7377.210 |
6896.204 |
5323.100 |
|
|
|
|
|
|
TOTAL |
16432.047 |
15746.547 |
14521.865 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
4736.372 |
4939.646 |
4127.095 |
|
(ii)
Intangible Assets |
126.061 |
158.006 |
23.931 |
|
(iii)
Capital work-in-progress |
446.988 |
351.744 |
808.514 |
|
(iv)
Intangible assets under development |
231.472 |
202.084 |
35.911 |
|
(b) Non-current Investments |
1495.314 |
1512.454 |
1412.184 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
98.573 |
190.780 |
233.649 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
7134.780 |
7354.714 |
6641.284 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4330.269 |
2877.541 |
2681.659 |
|
(c)
Trade receivables |
3942.382 |
3808.742 |
3100.774 |
|
(d) Cash
and cash equivalents |
334.712 |
507.287 |
874.832 |
|
(e)
Short-term loans and advances |
689.904 |
1198.263 |
1223.316 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
9297.267 |
8391.833 |
7880.581 |
|
|
|
|
|
|
TOTAL |
16432.047 |
15746.547 |
14521.865 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net) |
11974.169 |
10895.293 |
9937.558 |
|
|
|
Other Income |
91.319 |
164.721 |
124.749 |
|
|
|
TOTAL (A) |
12065.488 |
11060.014 |
10062.307 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
7303.673 |
5969.425 |
6351.996 |
|
|
|
Purchase of Traded goods |
102.516 |
292.415 |
45.363 |
|
|
|
(Increase) / Decrease in Inventory |
(718.540) |
9.799 |
(226.638) |
|
|
|
Employee Benefits Expense |
1178.876 |
1160.008 |
1167.001 |
|
|
|
Other Expenses |
2688.657 |
2101.869 |
2017.947 |
|
|
|
Exceptional Items |
(77.856) |
67.812 |
(151.203) |
|
|
|
TOTAL (B) |
10477.326 |
9601.328 |
9204.466 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1588.162 |
1458.686 |
857.841 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
933.984 |
898.087 |
493.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
654.178 |
560.599 |
364.398 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
400.850 |
343.612 |
313.271 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
253.328 |
216.987 |
51.127 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
48.886 |
120.972 |
(113.367) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
204.442 |
96.015 |
164.494 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales (FOB Value of Exports) |
2596.324 |
2260.489 |
1970.041 |
|
|
|
Services |
94.471 |
4.033 |
15.288 |
|
|
TOTAL EARNINGS |
2690.795 |
2264.522 |
1985.329 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Components and Spares |
3198.843 |
2241.058 |
2600.925 |
|
|
|
Capital Items / Equipment |
52.376 |
136.575 |
145.883 |
|
|
TOTAL IMPORTS |
3251.219 |
2377.633 |
2746.808 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.81 |
0.38 |
0.65 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
3146.600 |
|
Total Expenditure |
|
|
2812.300 |
|
PBIDT (Excl OI) |
|
|
334.300 |
|
Other Income |
|
|
21.900 |
|
Operating Profit |
|
|
356.200 |
|
Interest |
|
|
203.700 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
152.500 |
|
Depreciation |
|
|
100.100 |
|
Profit Before Tax |
|
|
52.400 |
|
Tax |
|
|
10.000 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
42.400 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
42.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.69
|
0.87 |
1.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.12
|
1.99 |
0.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.78
|
1.59 |
0.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.04 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.20
|
1.25 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.22 |
1.48 |
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 |
No |
|
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 |
Yes |
|
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 |
LITIGATION DETAILS
|
ARBAPPL 135 /
2013 |
ARBAPPLSR 6595 /
2013 |
CASE IS:PENDING
|
|
PETITIONER |
|
RESPONDENT |
|
M/S SHAKTHI
CONCERETE INDUSTRIAL LIMITED, SEC'BAD and ANOTHER |
VS |
M/S HBL POWER
SYSTEMS LIMITED, HYD. and 3 OTHERS |
|
PET.ADV. : HEMENDRANATH
REDDY |
|
RESP.ADV. :
|
|
SUBJECT: ARBITRATION
APLICATION |
|
DISTRICT: HYDERABAD
|
|
FILING
DATE: 09-10-2013 |
POSTING
STAGE : FOR ADMISSION |
|
|
REG.
DATE : 09-10-2013 |
LISTING
DATE : 25-10-2013 |
STATUS : --------- |
|
|
|
|
|
HON'BLE JUDGE(S): |
HON'BLE THE
CHIEF JUSTICE |
|
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10450609 |
28/09/2013 * |
300,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B87600219 |
|
2 |
10263361 |
08/11/2012 * |
2,000,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B61604377 |
|
3 |
10241214 |
17/09/2010 |
110,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI - 400005,
MAHARASHTRA, INDIA |
A95071502 |
|
4 |
10188677 |
02/12/2009 * |
360,000,000.00 |
STATE BANK OF
HYDERABAD |
INDUSTRIAL
FINANCE BRANCH, TOPAZ, AMRUTHA HILLS, PUNJAGUTTA, HYDERABAD - 500082, ANDHRA
PRADESH, INDIA |
A75459867 |
|
5 |
10183917 |
02/12/2009 * |
720,000,000.00 |
STATE BANK OF
INDIA |
CORPORATE
ACCOUNTS GROUP BRANCH, OZONE, 2ND FLOOR, 6-3-669, PUNJAGUTTA MAIN ROAD,
HYDERABAD - 500082, ANDHRA |
A75382853 |
|
6 |
10164979 |
02/12/2009 * |
720,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A75624544 |
|
7 |
10079748 |
29/11/2007 |
400,000,000.00 |
EXPORT- IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI - 400005,
MAHARASHTRA, INDIA |
A28733962 |
|
8 |
10103026 |
28/06/2008 * |
300,000,000.00 |
STATE BANK OF
INDORE |
PB NO.29,
TRIVANI COMPLEX, 4-1-971/974, ABID ROAD, HYDERABAD - 500001, ANDHRA PRADESH,
INDIA |
A42057414 |
|
9 |
10060541 |
04/07/2007 |
350,000,000.00 |
ICICI BANK
LIMITED |
ICICI BANK
TOWER, LEVEL IV, EAST WING, 1-11-256, STREET NO.1, BEGUMPET, HYDERABAD -
500016, ANDHRA PRADESH, INDIA |
A19286574 |
|
10 |
10053948 |
08/05/2007 |
800,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
MAHAVIR HOUSE,
BASHEERBAGH, HYDERABAD - 500029, ANDHRA PRADESH, INDIA |
A16033631 |
|
11 |
10050513 |
28/06/2008 * |
300,000,000.00 |
STATE BANK OF
HYDERABAD |
INDUSTRIAL
FINANCE BRANCH, TOPAZ BUILDING, AMRUTHA HILLS, PUNJAGUTTA, HYDERABAD - 500082,
ANDHRA PRADESH, INDIA |
A41810680 |
|
12 |
10040544 |
28/06/2008 * |
600,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A41861485 |
|
13 |
10020777 |
13/09/2006 |
7,500,000.00 |
HOUSING DEVELOPMENT
FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI - 400020, MAHARASHTRA, INDIA |
A05195300 |
|
14 |
90140359 |
26/04/2006 * |
300,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
SECUNDERABAD - 500003, ANDHRA PRADESH, INDIA |
A01154863 |
|
15 |
90139505 |
30/03/2005 |
3,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORP. LIMITED |
BASHEERBAGH,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
16 |
90140336 |
16/12/2004 |
120,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, SECUNDERABAD - 500003, ANDHRA PRADESH, INDIA |
- |
|
17 |
90140329 |
12/07/2007 * |
30,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A21104427 |
|
18 |
90140316 |
14/09/2004 * |
59,800,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, SECUNDERABAD - 500003, ANDHRA PRADESH, INDIA |
- |
|
19 |
90140313 |
12/07/2007 * |
120,000,000.00 |
STATE BANK OF
INDORE |
POST BAG NO: 29,
4-1-971, 974, ABIDS ROAD, HYDERABAD - 500001, ANDHRA PRADESH, INDIA |
A21762034 |
|
20 |
90139402 |
10/06/2005 * |
724,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
ASHOKA MY HOME CHAMBERS; SP ROAD, SECUNDERABAD - 500003, ANDHRA PRADESH,
INDIA |
- |
|
21 |
90140246 |
16/10/2002 |
80,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, SECUNDERABAD - 500003, ANDHRA PRADESH, INDIA |
- |
|
22 |
90140233 |
18/09/2013 * |
8,000,000,000.00 |
STATE BANK OF
INDIA |
CAG BRANCH,
OZONE, 2ND FLOOR, 6-3-669, PUNJAGUTTA MAIN ROAD, HYDERABAD - 500082, ANDHRA
PRADESH, INDIA |
B85584183 |
|
23 |
90140216 |
02/05/2002 * |
85,000,000.00 |
IDBI BANK LTD |
MAHAIR HOUSE, BASHEERBAGH
SQUARE, HYDERABAD - 500029, ANDHRA PRADESH, INDIA |
- |
|
24 |
90139321 |
29/08/2001 |
6,000,000.00 |
THE HOUSING
DEVELOPMENT FINANCE CORP. LIMITED |
HDFC HOUSE,
B-6/3; SAFDARJUNG ENCLAVE, NEW DELHI, INDIA |
- |
|
25 |
90140167 |
02/05/2002 * |
460,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, SECUNDERABAD - 500003, ANDHRA PRADESH, INDIA |
- |
|
26 |
90140436 |
31/08/1998 |
288,756.00 |
DCL FINANCE
LIMITED |
SOMAJIGUDA,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
27 |
90140435 |
06/08/1998 |
871,823.00 |
DCL FINANCE
LIMITED |
SOMAJIGUDA,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
28 |
90140434 |
17/07/1998 |
1,031,344.00 |
DCL FINANCE
LIMITED |
6-3-569/1; DCL
CHAMBERS OPPOSITE RTA OFFICE, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
29 |
90140433 |
11/05/1998 |
1,231,493.00 |
DCL FINANCE
LIMITED |
6-3-569/1; DCL
CHAMBERS OPPOSITE RTA OFFICE, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
30 |
90140432 |
18/04/1998 |
723,131.00 |
DCL FINANCE
LIMITED |
6-3-569/1; DCL CHAMBERS
OPPOSITE RTA OFFICE, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
31 |
90137668 |
20/10/1994 |
30,000,000.00 |
ID BANK OF INDIA
LIMITED |
5-9-891&2
CHAPEL ROAD, HYDERABAD, DELHI - 500001, INDIA |
- |
|
32 |
90139920 |
15/09/2000 * |
87,500,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, SECUNDERABAD - 500003, ANDHRA PRADESH, INDIA |
- |
|
33 |
90139793 |
20/03/1992 |
135,000,000.00 |
STATE BANK OF
INDIA |
JEEDIMETLA IDA
BRANCH, HYDERABAD - 500855, ANDHRA PRADESH, INDIA |
- |
|
34 |
90138661 |
10/06/1989 |
93,300,000.00 |
STATE BANK OF
INDIA |
JEEDIMETLA,
JEEDIMETLA, ANDHRA PRADESH, INDIA |
- |
|
35 |
90139696 |
13/10/1988 |
30,800,000.00 |
STATE BANK OF
INDIA |
JEEDIMETLA,
HYDERABAD, ANDHRA PRADESH, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Interest Free
Sales Tax Loan (Deferred Payment Liability) |
163.637 |
167.881 |
|
Loan from HPFSIPL |
12.310 |
0.000 |
|
Finance Lease Obligations from HPFSIPL |
6.319 |
0.000 |
|
Loan from Holding Company |
1200.000 |
0.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Unsecured (from
Banks) Purchase Bill
Discounting from Kotak Mahindra
Bank Limited |
127.458 |
82.133 |
|
Unsecured (from
others) Inter Corporate Deposit from Holding Company |
0.000 |
62.600 |
|
Inter Corporate Deposit from Others |
30.000 |
0.000 |
|
Loans from Directors |
27.600 |
20.500 |
|
|
|
|
|
Total |
1567.324 |
333.114 |
PERFORMANCE REVIEW 2012-13
Overall Income of the Company for the year 2012-13 was recorded at Rs. 12065.488 Millions as compared to previous year income
of Rs.11060.015 Millions showing an increase of 9.09% compared to previous
year. This has resulted in an increase in PBIDT for the year which stood at
Rs.1588.161 Millions compared to Rs. 1458.689
Millions in the previous year. In spite of an increase in finance cost, after
suitable provision for depreciation and amortization expenses, PBT for the year
was Rs.253.326 Millions compared to Rs. 216.990
Millions in the previous year. This showed a marginal growth. However, after
making a provision of Rs. 48.884 Millions for tax and
tax adjustments for the year; the net profit (PAT) for the year was Rs.204.442
Millions as compared to Rs.96.017 Millions in the previous year.
INVESTMENT/DIVESTMENTS IN SUBSIDIARY/ JOINT VENTURE/ASSOCIATE
COMPANIES/LLP’S:
AGILE ELECTRIC SUB-ASSEMBLY PRIVATE LIMITED
During the year the Company continued to hold its shares in Agile
Electric Sub-assembly Private Limited during 2012-13. However, since the date
of Balance sheet, the Board of the Company decided to sell the entire stake
held by the Company in its subsidiary, Agile Electric Sub Assembly Private
Limited to certain Private Equity investors in order to mobilize cash resources
for its core operations. The transaction is expected to be completed shortly.
HBL AMERICA INC
During the year, the company has invested an amount of Rs. 2.811 Millions (USD 50,000) in its Wholly Owned
Subsidiary in USA under the name HBL America Inc. and the total investment was
Rs.22.399 Millions.
SCIL INFRACON PRIVATE LIMITED (SIPL)
During the financial year 2012-13 the performance of the company was
affected by an unjustified stoppage of workmen of the company from October
2012. After exhausting all means of fair discussion and negotiations, the
matter was referred to Labour Department, Government
of Andhra Pradesh. The conciliation proceedings convened by the Deputy Labour Commissioner and Joint Commissioner have failed. The
matter is pending before the Authorities.
Operations in 2012-13 reflected only first six months compared to a full
year in 2011-12. Even during the first six months, severe power shortages in
the state, order availability on time resulted in production and supply below
break-even. As a result, financial results for the year showed a down trend.
Presently there are no operations in SIPL and the Board of SIPL is considering
various alternative options.
A legal suit was filed by Mr. K Gyan Sagar (Promoter of SCIL) and Shakti
Concrete Industries Limited (SCIL) against HBL and Others in City Civil Court,
Hyderabad for an arbitration petition. Claim of Petitioners is non-receipt of a
consideration of Rs 188.30 Millions for shares sold
by them. As informed by HBL’s legal counsel, the
claim prima facie is not tenable as the petitioners are making a claim for
consideration already received. The case is pending before the Honourable Court.
AUTOTEC SYSTEMS PRIVATE LIMITED
During the year, the company disinvested its shareholding of 171216
shares in Autotec Systems Private Limited (ATS),
Bangalore, bought back by its (ATS) promoters.
MANAGEMENT DISCUSSION AND ANLAYSIS
PERFORMANCE SUMMARY FY 13
Total Income has grown to Rs. 12060.000
Millions in FY 13, Versus Rs. 11060.000 Millions in
FY 12, and Rs 10060.000 Millions in FY 11. Profit
after tax was Rs. 204.000 Millions in FY 13, Versus Rs. 96.000 Millions in FY 12, and Rs.
164.500 Millions in FY 11.
LEAD BATTERIES
· Telecom sector demand has increased due to need for essential replacements at cellular towers.
Export
demand has increased and is promising for thin plate pure lead batteries, which
are only made by very few companies globally.
Approval
from Indian Navy has been obtained for Submarine Propulsion batteries.
RAILWAY SIGNALING
In October, 2012 HBL demonstrated to the Railway Board, a low cost,
in–house developed, Train Collision Avoidance System (TCAS). This was a
pioneering achievement and an example of Indian Innovation. Live trials were
conducted using trains in SC Railway. The market for this will be significant
but is a few years away. They believe that there are overseas markets for
several of HBL’s products in Rail Signaling, because
these products comply with European Standards.
SOLAR PHOTOVOLTAIC SYSTEMS
· Agricultural water pumps are being promoted by many states as a solution to inadequate grid supply. HBL is a leader in this business in using existing AC Pumps.
Rooftop
Solar Systems are becoming popular. Apart from Government projects, consumers
having or planning to use, “domestic inverters” realize that adding solar
panels is a good idea. HBL finds this to be a steadily growing demand.
THE NEAR FUTURE
The global economic situation and particularly the Indian economy did
not look as bad a year ago, as they do now. Consequently, the improvement in
HBL financial performance has also been slower than was expected a year ago.
Nevertheless, management is convinced that progress will henceforth be much
faster, unless the environment deteriorates further.
One measure of management’s confidence is due to the fact that the
Promoters (who never sold a share) continue to acquire shares of the company,
subject to the SEBI limit.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
a) Un-expired guarantees
issued on behalf of the Company by banks for which the Company gave counter
guarantees |
1231.047 |
1224.186 |
|
b) Bills Discounted with Banks but not matured |
371.424 |
406.126 |
|
c) Corporate Guarantee
issued to ICICI Bank on behalf of Igarshi Motors
India Limited (a step down subsidiary of the company) for the loan facilities
sanctioned to them. |
760.000 |
760.000 |
|
d) Legal undertakings
(LUTs) given to Custom’s Authorities for clearing
the imports at Nil / Concessinal rate of duty
pending fulfillment of export obligations, (net of the export obligations
fulfilled of Rs.978.012 Millions (previous year Rs.350.974 Millions) for which
the process of discharging the LUTs by the
concerned authorities is at various stages). |
459.714 |
458.653 |
|
e) Claims against the Company not acknowledged as debts towards : |
|
|
|
Excise duty |
31.050 |
28.613 |
|
Sales Tax |
9.842 |
6.145 |
|
Custom duty |
3.385 |
3.196 |
|
Service Tax |
1.068 |
0.000 |
|
Property Tax of VSEZ unit |
2.764 |
2.764 |
|
Fuel surcharge adjustment (FSA) to the extent billed |
37.473 |
35.748 |
|
Enhancement of Land
Cost by Haryana State Industrial and Infrastructure
Development Corporation Limited, Manesar |
10.882 |
0.000 |
|
Erstwhile promoters of SCIL Infracon Private
Limited |
18.831 |
0.000 |
|
Others |
1.767 |
0.817 |
|
f) Income Tax Dispute for Assessment Year 2009-10 |
6.508 |
6.508 |
|
Estimated amount
of contracts remaining to be executed on Capital account and not provided for |
37.510 |
169.964 |
|
Investments
committed by the Company in other Companies: |
|
|
|
In SCIL Infracon Private Limited Against purchase of 10000 shares
(net of Rs. 2.500 Millions contributed as on
31.03.2012) |
0.000 |
13.500 |
|
In HBL Suntech, LLP against 60% Share in LLP (net of Rs. 1.830 Millions contributed as on 31-03-2013) |
10.170 |
10.170 |
FIXED ASSETS:
· Land – Freehold
Land
– Leasehold
Buildings
– Factory
Buildings
– Others
Plant
and Machinery
Office
Equipment
Assets
under Finance Lease
Furniture
and Fixtures
Vehicles
Technical
Library
PRESS RELEASE
STRATEGIC PARTNERSHIP BETWEEN SUNLIGHT AND
HBL POWER SYSTEMS LIMITED FOR NICKEL CADMIUM BATTERIES
SYSTEMS SUNLIGHT
S.A. has a long-lasting and successful worldwide presence in the energy storage
and power supply sectors, aiming at providing customized turn-key solutions.
Having a robust know-how in designing and producing lead-based batteries,
SUNLIGHT develops strategic partnerships with leading companies as a means of
enriching its product portfolio with additional energy storage technologies.
In this context,
SUNLIGHT has recently signed a strategic partnering agreement with HBL Power
Systems Limited, one of the top global battery manufacturers, specializing
among others in Nickel-Cadmium (Ni-Cd) batteries.
Based on this strategic agreement, SUNLIGHT will exclusively market a wide
range of HBL manufactured SUNLIGHT Ni-Cd batteries
into various countries, mainly in SE Europe and CIS.
“We strongly believe
that this partnership will provide added value to both parties by integrating SUNLIGHT’s and HBL’s core
competences in a complementary way” commented Mr. Stefanos
Latinos – SUNLIGHT’s Global Products and Services
Director.
“HBL recognizes the
strength of partnering with SUNLIGHT to take advantage of lowering costs for
customers while offering professional, local service capabilities to ensure
total customer satisfaction – the long term future is bright for both
companies” added Mr. Bob Herritty – Executive
Director International Business at HBL in India.
Nickel-Cadmium
batteries’ unique features enable them to be used in applications and
environments untenable for other battery systems. They are characterized by
their optimum reliability, performance, long life span and low maintenance
requirements. Their key applications include fire alarm panels, emergency
lighting, telecommunication, switchgear, photovoltaics,
process control, UPS, generator starting, diesel locomotive cranking, aircraft
/ helicopter ground starting, and electro magnets.
CMT REPORT (Corruption, Money Laundering and 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 y 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. 61.53 |
|
|
1 |
Rs. 99.75 |
|
Euro |
1 |
Rs. 84.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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 and 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.