MIRA INFORM REPORT
|
Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED |
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Registered Office : |
New Udaan Bhawan, Terminal 3, Opposite Indira Gandhi International
Airport, New Delhi-110037 |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
01.03.2006 |
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Com. Reg. No.: |
55-146936 |
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Capital
Investment / Paid-up Capital : |
Rs.24500.000
Millions |
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CIN No.: [Company
Identification No.] |
U63033DL2006PTC146936 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD08985E |
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PAN No.: [Permanent
Account No.] |
AACCD3570F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing of Airport Maintenance Services and Repairing Services. |
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No. of Employees : |
Not Available |
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RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 39870000 |
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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 an established company having satisfactory track record. It
is a joint venture of GMR Group, Airports Authority of India. Fraport and Malaysia
Airports Holdings Berhad rating also takes into consideration strong support
from its subsidiaries. Trade relations are fair. Business is active. Payment terms are
regular. The company can be considered 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 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very
High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in existence.
Kodak, the inventor of the digital camera had to wind up its operations, HMV,
the British entertainment retailing company and Borders, once the second
largest bookstore have shut down due to their inability to evolve their
business models with the changing time. Readers’ Digest, Thomson Register are
no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB + [Rupee Terms Loans] |
|
Rating Explanation |
Moderate credit quality and average credit risk. |
|
Date |
21.06.2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A2 [Unallocated Limits] |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
21.06.2013 |
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 Office : |
New Udaan Bhawan, Terminal 3, Opposite Indira Gandhi International
Airport, New Delhi-110037, India |
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Tel. No.: |
91-11-47197001 |
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Fax No.: |
91-11-47197034 |
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E-Mail : |
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Website : |
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Corporate Office : |
GMR Group, IBC Knowledge Park, Phase 2, "D"
Block, 9th Floor, 4/1, Bannerghatta Road, Bangalore - 560 029, Karnataka,
India |
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Tel No.: |
91-80-40432180 |
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Fax No.: |
91-80-40432000 |
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E-Mail : |
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Branch Office : |
Located At:
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DIRECTORS
AS ON 24.08.2012
|
Name : |
Mr. Grandhi Mallikarjuna Rao |
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Designation : |
Chairman |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
01.07.1949 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00574243 |
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Name : |
Mr. Kiran Kumar Grandhi |
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Designation : |
Director |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th Block,
Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
13.09.1975 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00061669 |
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Name : |
Mr. Srinivas Bommidala |
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Designation : |
Director |
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Address : |
No. 309, 3rd Cross, 2nd Stage, Devasandra, RMV
Extension, Bangalore – 560094, Karnataka, India |
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Date of Birth/Age : |
01.03.1963 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00061464 |
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Name : |
Mr. Narayana Rao Kada |
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Designation : |
Director |
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Address : |
104 Durga Vihar, Gunnrock Avenue, Secunderabad – 500015, Andhra
Pradesh, India |
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Date of Birth/Age : |
01.04.1955 |
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Date of Appointment : |
17.04.2007 |
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DIN No.: |
00016262 |
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Name : |
Mr. Grandhi Butchi Sanyasi Raju |
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Designation : |
Director |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
|
Date of Birth/Age : |
26.01.1974 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00061686 |
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Name : |
Mr. Subba Rao Gunuputi |
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Designation : |
Director |
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Address : |
D-168, 1st Floor, Defence Colony, New Delhi – 110024,
Delhi, India |
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Date of Birth/Age : |
15.11.1951 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00064511 |
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Name : |
Ravela Sri Satya Lakshami Narasimha Bhaskarudu |
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Designation : |
Director |
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Address : |
H. No.2210, Sector D, Pocket – 2, Vasant Kunj, New Delhi, India |
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Date of Birth/Age : |
01.07.1940 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
00058527 |
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Name : |
Mr. Bashir Ahmed Bin Abdul Majid |
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Designation : |
Director |
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Address : |
No.17, Jalan Pju, 3/416 C, Damansara Indah, resort Homes, Petaling
Jaya, Selangor, Malaysia – 47410 |
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Date of Birth/Age : |
20.06.1946 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
01563213 |
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Name : |
Mr. Christoph Hans Nanke |
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Designation : |
Director |
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Address : |
Bebheimer Garden 7, Trebur, Germany-65468 |
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Date of Birth/Age : |
05.08.1966 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
01710668 |
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Name : |
Mr. Alok Sinha |
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Designation : |
Director |
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Address : |
20B, Sector 14-A, Noida, Uttar Pradesh, India |
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Date of Birth/Age : |
15.10.2009 |
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Date of Appointment : |
15.10.2009 |
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DIN No.: |
02669682 |
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Name : |
Mr. Sudhir Raheja |
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Designation : |
Director |
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Address : |
E-8, Bali Nagar, New Delhi-110015, India |
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Date of Birth/Age : |
16.06.1958 |
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Date of Appointment : |
25.10.2010 |
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DIN No.: |
02745768 |
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Name : |
Mr. Vedamuthu Somasundaram |
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Designation : |
Director |
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Address : |
Flat No.5025, Sector B, Pocket 7, Vasantkunj, New Delhi-110017, India |
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Date of Birth/Age : |
03.09.1955 |
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Date of Appointment : |
01.06.2011 |
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DIN No.: |
03574882 |
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Name : |
Mr. Faizah Binti Khairuddin |
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Designation : |
Alternate Director |
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Address : |
No.3, Jalan Bidai U8/13E, Bukit Jelutong, Shah Alam, Selangor-40150,
Malaysia |
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Date of Birth/Age : |
20.09.1967 |
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Date of Appointment : |
15.10.2009 |
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DIN No.: |
02768997 |
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Name : |
Mr. Bangaru Raju Obbilisetty |
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Designation : |
Director |
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Address : |
No.249, 4th Cross, 6th Main, 4th
Phase, J. P. Nagar Dollars Colony, Bengaluru-560078, Karnataka, India |
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Date of Birth/Age : |
21.12.1956 |
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Date of Appointment : |
16.09.2007 |
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DIN No.: |
00082228 |
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Name : |
Mr. Ansgar Sickert |
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Designation : |
Director |
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Address : |
K-80, Hauz Khas Enclave, New Delhi, India |
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Date of Birth/Age : |
22.10.1966 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
02290086 |
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Name : |
Mr. Suresh Krishan Goyal |
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Designation : |
Director |
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Address : |
2901, 29, Aqua Planet Godrej030, K Khadye Marg, S G M CHK, Mahalaxmi,
Mumbai-400011, Maharashtra, India |
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Date of Birth/Age : |
05.07.1968 |
|
Date of Appointment : |
10.05.2012 |
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DIN No.: |
02721580 |
KEY EXECUTIVES
|
Name : |
Mr. Gadi Radhakrishna Babu |
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Designation : |
Secretary |
|
Address : |
1-4-61/2, Street No.8, Habshiguda, Hyderabad-500007, Andhra Pradesh,
India |
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Date of Birth/Age : |
13.02.1960 |
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Date of Appointment : |
23.01.2012 |
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PAN No.: |
ACAPG2146H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
GMR Infrastructure Limited, India |
|
2450000000 |
AS ON 24.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
20.00 |
|
Bodies
corporate |
|
80.00 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing of Airport Maintenance Services and Repairing Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Brahmayya And Company Chartered Accountant |
|
Address : |
‘Khivraj Mansion’, 10/2, Kasturba Road, Bangalore-560001, Karnataka,
India |
|
PAN No.: |
AAAFB9147R |
|
|
|
|
Name : |
S.R. Batlliboi and Associates Chartered Accountant |
|
Address : |
6th Floor, H T House, 18-20, Kasturba Gandhi Marg, New Delhi
– 110001, Delhi, India |
|
Tel. No.: |
91-40-66246600 |
|
PAN No.: |
AABFS3421N |
|
|
|
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Holding Company : |
GMR
Infrastructure Limited CIN No.:- L45203KA1996PLC034805 |
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Ultimate Holding Company : |
GMR Holdings Private Limited |
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|
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Fellow Subsidiaries : |
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Subsidiaries : |
Delhi Aerotropolis Private Limited |
|
|
|
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Enterprises in respect of which the Company is a
Joint Venture : |
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|
Joint Venture Entities : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000000 |
Equity Shares |
Rs.10/- each |
Rs.30000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2450000000 |
Equity Shares |
Rs.10/- each
|
Rs.24500.000
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 |
|
24500.000 |
24500.000 |
|
(b) Reserves & Surplus |
|
(14532.100) |
(3678.100) |
|
(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) |
|
9967.900 |
20821.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
57409.400 |
52299.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
21027.000 |
24094.300 |
|
(d)
long-term provisions |
|
1085.700 |
1184.800 |
|
Total
Non-current Liabilities (3) |
|
79522.100 |
77578.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
8565.000 |
6000.000 |
|
(b)
Trade payables |
|
2333.500 |
1825.300 |
|
(c)
Other current liabilities |
|
22027.200 |
18969.500 |
|
(d)
Short-term provisions |
|
265.200 |
232.900 |
|
Total
Current Liabilities (4) |
|
33190.900 |
27027.700 |
|
|
|
|
|
|
TOTAL |
|
122680.900 |
125427.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
90789.300 |
98368.000 |
|
(ii)
Intangible Assets |
|
4730.700 |
4484.800 |
|
(iii)
Capital work-in-progress |
|
1243.300 |
867.900 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b)
Non-current Investments |
|
1778.600 |
1554.500 |
|
(c)
Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1040.300 |
1976.200 |
|
(e)
Other Non-current assets |
|
7176.700 |
168.300 |
|
Total
Non-Current Assets |
|
106758.900 |
107419.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
526.100 |
1456.500 |
|
(b)
Inventories |
|
94.700 |
27.200 |
|
(c)
Trade receivables |
|
2446.800 |
1252.100 |
|
(d)
Cash and cash equivalents |
|
3094.400 |
2901.000 |
|
(e)
Short-term loans and advances |
|
930.900 |
3163.700 |
|
(f)
Other current assets |
|
8829.100 |
9207.500 |
|
Total
Current Assets |
|
15922.000 |
18008.000 |
|
|
|
|
|
|
TOTAL |
|
122680.900 |
125427.700 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12000.000 |
|
|
2] Share Application Money |
|
|
12500.000 |
|
|
3] Reserves & Surplus |
|
|
823.900 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
25323.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
66389.200 |
|
|
2] Unsecured Loans |
|
|
19349.800 |
|
|
TOTAL BORROWING |
|
|
85739.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
275.600 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
111338.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
28891.400 |
|
|
Capital work-in-progress |
|
|
73336.800 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
9429.200 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
47.100 |
|
|
Sundry Debtors |
|
|
1761.100 |
|
|
Cash & Bank Balances |
|
|
1465.900 |
|
|
Other Current Assets |
|
|
1373.900 |
|
|
Loans & Advances |
|
|
4123.200 |
|
Total
Current Assets |
|
|
8771.200 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2858.200 |
|
|
Other Current Liabilities |
|
|
4488.800 |
|
|
Provisions |
|
|
1743.100 |
|
Total
Current Liabilities |
|
|
9090.100 |
|
|
Net Current Assets |
|
|
(318.900) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
111338.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14926.300 |
12431.500 |
11532.700 |
|
|
|
Other Income |
383.200 |
185.200 |
185.600 |
|
|
|
TOTAL (A) |
15309.500 |
12616.700 |
11718.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Annual Fee |
7040.800 |
5772.700 |
|
|
|
|
Power and Fuel |
857.300 |
608.200 |
|
|
|
|
Employee Benefits Expenses |
1426.100 |
1393.400 |
9090.700 |
|
|
|
Other Expenses |
4004.900 |
3619.100 |
|
|
|
|
Exceptional Items |
1621.200 |
0.000 |
|
|
|
|
TOTAL (B) |
14950.300 |
11393.400 |
9090.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
359.200 |
1223.300 |
2627.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6810.200 |
3317.300 |
1292.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(6451.000) |
(2094.000) |
1334.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4264.500 |
2683.600 |
1166.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(10715.500) |
(4777.600) |
168.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
138.500 |
(275.600) |
(30.600) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER
TAX (G-H) (I) |
(10854.000) |
(4502.000) |
198.900 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3678.100) |
824.000 |
625.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(14532.100) |
(3678.100) |
823.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Aeronautical Income |
0.000 |
20.200 |
26.100 |
|
|
|
Revenue from Concessionaires |
1515.300 |
773.200 |
987.900 |
|
|
TOTAL EARNINGS |
1515.300 |
793.400 |
1014.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
388.600 |
918.000 |
1192.000 |
|
|
TOTAL IMPORTS |
388.600 |
918.000 |
1192.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(4.43) |
(3.57) |
0.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(70.90)
|
(35.68) |
3.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(71.79)
|
(38.43) |
1.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.95)
|
(3.88) |
0.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.07)
|
(0.23) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.62
|
2.80 |
3.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.47
|
0.67 |
0.96 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10416021 |
11/03/2013 |
2,500,000,000.00 |
CORPORATION BANK |
CORPORATE
BANKING BRANCH, 10TH FLOOR, HINDUSTAN TIMES HOUSE, K.G. MARG, CONNAUGHT PLACE,
NEW DELHI - 110001, INDIA |
B71894513 |
|
2 |
10416449 |
11/03/2013 |
3,000,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, 75, 1ST FLOOR, BRIGADE |
B72209786 |
|
3 |
10416023 |
11/03/2013 |
3,090,000,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH 1, NO.1, DDA BUILDING, 1ST |
B71895692 |
|
4 |
10415558 |
11/03/2013 |
3,500,000,000.00 |
IDFC LIMITED |
NAMAN CHAMBERS, C-32
G- BLOCK, BANDRA-KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, |
B71957773 |
|
5 |
10230210 |
29/06/2010 |
2,500,000,000.00 |
CORPORATION BANK |
16/10, 1ST
FLOOR, MAIN ARYA SAMAJ ROAD, KAROL BAGH, NEW DELHI - 110005, INDIA |
A89994347 |
|
6 |
10112534 |
23/08/2013 * |
39,943,000,000.00 |
AXIS BANK
LIMITED |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND, |
B83364026 |
|
* Date of charge modification |
||||||
|
CASE DETAILS IN THE HIGH COURT OF
DELHI AT NEW DELHI ARB.P. 219/2013 ISS INTEGRATED
FACILITY SERVICES PRIVATE LIMITED..... Petitioner Versus Through: Mr. Khalid
Arshad and Ms. Surabhi, Advocates CORAM: HON'BLE MR. JUSTICE
RAJIV SHAKDHER ORDER 22.08.2013 The learned counsel for the respondent seeks further
time to file a reply. Let the same be filed within four weeks subject to
payment of cost of Rs.5,000/- to the petitioner. Rejoinder thereto, if any,
be filed before the next date of hearing. List on 26.09.2013. RAJIV SHAKDHER, J AUGUST 22, 2013 YG $ 8 |
NATURE OF OPERATIONS:
Subject was
incorporated on March 1, 2006 for managing the operations and modernization of
the Indira Gandhi International Airport (Delhi Airport). GMR Infrastructure
Limited, along with its subsidiaries, holds majority shareholding of the
Company. DIAL had entered into Operation, Management and Development Agreement
(OMDA) with Airports Authority of India (AAI), which gives DIAL an exclusive
right to operate, maintain, develop, modernize and manage the Delhi Airport on
a revenue sharing model for an initial term of 30 years, which can be extended
by another 30 years on satisfaction of certain terms and conditions pursuant to
the provisions of OMDA.
BUSINESS PERFORMANCE:
During the
financial year ended March 31, 2012, the company has incurred a PBT (Loss) of
Rs. (10715.500) Millions against Rs. (4777.600) Millions, in the corresponding
previous year, being an increase of 124%. The above loss is mainly due to delay
in tariff hike and DF order which resulted into high debts for meeting the day
to day operation. Further, in the previous year ending March 31, 2011, half of
the interest cost and depreciation was capitalized, as the operations were not
commenced fully, however, the financial year ending March 31, 2012 is the full
year of operations, so the depreciation and interest costs were not
capitalized. Further outstanding from Air India continue to surge which also
impacted the cash flow badly. Due to this Cash Loss went up to Rs. 6450.000
Millions as compared to last year cash loss of Rs. 2094.000 Millions.
FINANCE:
The total debt for
the project comprises of Rupee Term Loans to the extent of Rs.36500.000
Millions, External Commercial Borrowing (ECB) of US$ 350 million equivalent to
Rs.15910.000 Millions. The Company has also got the approval from AERA for
securitization of Development Fee of Rs. 34150.000 Millions, as a means of
Finance for the Project. Out of the total Development Fees (DF) of Rs.
34150.000 Millions, the Company has completed the securitization of Rs.
14840.000 crore in the year 2009 and the balance DF of Rs. 19310.000 Millions,
securitized during the year, with ICICI Bank which later on
syndicated/refinanced with Central Bank of India to the extent of Rs. 2500.000
Millions and Canara Bank to the extent of Rs. 5000.000 Millions.
Out of the above
securitized amount of Rs. 19310.000 Millions, the Company has availed
disbursement of Rs. 12100.000 Millions from the DF lenders and utilized the
same for repayment of old DF loans and partial payment of Short Term loans
obtained, pending DF approval from AERA. Further, disbursements to the extent
of Rs. 7010.000 Millions under DF would be obtained after approval from AERA.
The Company has obtained A- (SO) rating from CARE, ensuring the DF
securitization @ 11.50% against the cap of 11.75% indicated by AERA.
During the year,
the Company has also enhanced its working capital facility from Rs. 1345.000
Millions to Rs. 2500.000 Millions, to meet the increasing operating
requirements post successful operations from T3. The Company also perfected the
security offered to the lenders in the form of share pledge and NDU on the
additional share capital of Rs. 12500.000 Millions issued in March 2011.
AWARDS AND RECOGNITIONS TO THE COMPANY:
The awards and
recognitions received by the Company during the year are as under:-
- 6th best Airport in the world; 2nd best in the
25-40mppa category - ASQ Awards (2011).
- World’s 1st Airport to get ISO 50001:2011
certification for Energy Management System.
- Best Managed Airport award CNBC Aawaz awards
2011.
- Best Airport, from the Transport Ministry of Russian
Federation- Golden Chariot Award 2011.
- Operation, Management & Development of the
new integrated passenger terminal building T3 - Infrastructure Excellence
Awards 2011.
- Stat Times Award for the International Cargo
Airport of the Year (Region-India) 2012.
- Intelligent Washroom Design in the Airports
Category - Washrooms & Beyond Honors 2011.
- Best Airport in India? award by Travel
& Leisure Magazine.
SUBSIDIARIES:
The Company has two
subsidiaries as on March 31, 2012- Delhi Aerotropolis Private Limited and East
Delhi Waste Processing Company Private Limited. The name of the Company East
Delhi Waste Processing Company Private Limited has changed to East Delhi Waste
Processing Company Limited vide Certificate of Incorporation dated April 4,
2012 issued by the Registrar of Companies.
JOINT VENTURES:
For providing
better services to the passengers through a superior control over the business
operations, and also for maximizing the value, the Company joined as a Joint
Venture (JV) Partner in the key business areas like Duty Free, Cargo, Food
& Beverage, IT services, Vehicle Parking Facilities, Fuel Farm,
Advertisement and Bridge Mounted Equipments. Accordingly, the Company has equity
stake ranging from 26% to 50% depending on the nature and size of the business,
in the 11 JVs floated for the above said businesses. So far, the Company has
invested about Rs.1840.000 Millions towards Equity Capital / Share Application
money in the said 11 JVs. The performance of the JVs has been satisfactory
during 2011-12.
FIXED ASSETS:
- Buildings
- Plant and Machinery
- Office Equipments
- Furniture and Fixtures
- Vehicles
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 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.63.37 |
|
|
1 |
Rs.100.85 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.