1. Summary Information
|
|
|
Country |
India |
|
Company Name |
POWER
ENGINEERING (INDIA) PRIVATE LIMITED |
Principal Name 1 |
Mr. Atul Devidas Pai Kane |
|
Status |
Moderate |
Principal Name 2 |
Mr. Sunil Manohar Pai Kane |
|
|
|
Registration # |
24-002221 |
|
Street Address |
58/A, Tuem
Industrial Estate, Tuem, Pedne – 403512, Goa, India |
||
|
Established Date |
06.11.1996 |
SIC Code |
-- |
|
Telephone# |
91-832-3292841/ 3061000 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-832-2201688 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Diesel Generating Sets |
|
# of employees |
Not Divulged |
Product Name 2 |
-- |
|
Paid up capital |
Rs.59,202,260/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 34.55% Directors or relatives of directors - 65.45% |
Banking |
Canara Bank |
|
Public Limited Corp. |
No |
Business Period |
18 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B
(30) |
|
Related
Company |
|||
|
Relation
|
Country |
Company
Name |
|
|
Subsidiary |
India |
Power Engineering Spares and Services (India) Private Limited |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
667,499,000 |
Current Liabilities |
544,201,000 |
|
Inventories |
322,487,000 |
Long-term Liabilities |
276,492,000 |
|
Fixed Assets |
57,476,000 |
Other Liabilities |
13,527,000 |
|
Deferred Assets |
000 |
Total Liabilities |
834,220,000 |
|
Invest& other Assets |
18,451,000 |
Retained Earnings |
172,491,000 |
|
|
|
Net Worth |
231,693,000 |
|
Total Assets |
1,065,913,000 |
Total Liab. & Equity |
1,065,913,000 |
|
Total Assets (Previous Year) |
887,388,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
1381,592,000 |
Net Profit |
73,543,000 |
|
Sales(Previous yr) |
1000,125,000 |
Net Profit(Prev.yr) |
(134,676,000) |
MIRA INFORM REPORT
|
Report Date : |
29.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
POWER ENGINEERING (INDIA) PRIVATE LIMITED (w.e.f. 03.01.2007) |
|
|
|
|
Formerly Known As : |
CONSOLIDATED POWER TECHNIQUES LIMITED |
|
|
|
|
Registered Office : |
58/A, Tuem Industrial Estate, Tuem, Pedne – 403512, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
06.11.1996 |
|
|
|
|
Com. Reg. No.: |
24-002221 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.59.202 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31101GA1996PTC002221 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRP07327F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC2414P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Diesel Generating Sets. |
|
|
|
|
No. of Employees: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 640000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Management has reported a better increase in its sales volume as well
as recorded a profit during 2013, against previous consecutive losses. The rating also takes into consideration high working capital
requirements, resulting increased reliance on short term borrowings along
with excessive trade receivables which affects the liquidity position. Moreover, intense competitive pressures from both organised and
unorganised players and high concentration risks should be taken into
account. However, trade relations appear to be fair. Business is active.
Payment terms are reported as slow. In view of long standing experience of the promoters the subject can
be considered for business dealings with great caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits = B- |
|
Rating Explanation |
High risk of default regarding timely servicing of financial
obligations |
|
Date |
June 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
June 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. Abhijit |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9371364558 |
|
Date : |
09.04.2014 |
LOCATIONS
|
Registered Office : |
58/A, Tuem Industrial Estate, Tuem, Pedne – 403512, |
|
Tel. No.: |
91-832-3292841/ 3061000 |
|
Fax No.: |
91-832-2201688 |
|
E-Mail : |
|
|
|
|
|
Corporate Office / Marketing Head
Office |
503,504
Cosmos Centre, 5th Floor, Morod, Mapusa, Bardez – 403507, Goa, India |
|
Tel. No.: |
91-832-3292844
/ 45 / 46 / 47 |
|
Fax No.: |
91-832-2255904 |
|
E-Mail : |
|
|
Website
: |
|
|
|
|
|
Marketing Office : |
Located at ·
UK
·
Mumbai
·
Delhi
|
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Atul Devidas Pai Kane |
|
Designation : |
Managing director |
|
Address : |
274/A, Satyam, |
|
Date of Birth/Age : |
07.03.1969 |
|
Date of Appointment : |
06.11.1996 |
|
PAN No.: |
AEYPK0025K |
|
DIN No.: |
00453585 |
|
Name : |
Mr. Sunil Manohar Pai Kane |
|
Designation : |
Whole-time director |
|
Address : |
Bungalow No.1, Bhobe Resudency, Green Valley, Off Chogm Road, Alto
Porvorim -403521, Bardez, Goa, India |
|
Date of Birth/Age : |
16.12.1971 |
|
Date of Appointment : |
23.10.2006 |
|
PAN No.: |
AVTPP5590N |
|
DIN No.: |
01618399 |
|
Name : |
Mrs. Gaurapriya Atul Pai Kane |
|
Designation : |
Director |
|
Address : |
274/A, Satyam, |
|
Date of Birth/Age : |
31.10.1968 |
|
Date of Appointment : |
06.03.2009 |
|
PAN No.: |
AEYPK0026L |
|
DIN No.: |
00453780 |
|
Name : |
Mr. Jose Jerowimo Domingos
Fernandes |
|
Designation : |
Director |
|
Address : |
H. NO.503, Ruzail Vaddo, Santa Cruz,
Ilhas-403505, Goa, India |
|
Date of Birth/Age : |
29.05.1970 |
|
Date of Appointment : |
15.12.2012 |
|
PAN No.: |
AAJPF9391G |
|
DIN No.: |
02168952 |
KEY EXECUTIVES
|
Name : |
Mr. Abhijit |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Atul Devidas Pai Kane |
|
3875039 |
|
Mrs. Gaurapriya Atul Pai Kane |
|
1 |
|
Cream Manufacturing Solutions (India) Private Limited, India |
|
1559980 |
|
Acoustic Components Private Limited, India |
|
485206 |
|
|
|
|
|
Total |
|
5920226 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies corporate |
|
34.55 |
|
Directors
or relatives of directors |
|
65.45 |
|
|
|
|
|
Total |
|
100.00 |
%20PRIVATE%20LIMITED%20-%20262479%2029-Apr-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diesel Generating Sets |
|
|
|
GENERAL INFORMATION
|
No. of employees : |
Information
declined by the management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Canara
Bank, Mathias Plaza Building, Panaji - 403001, Goa, India ·
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg,
Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
The Goa Urban Cooperative Bank Limited, Panaji –
403001, Goa, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Note : Long-term Borrowings (A)
(Secured by hypothecation of vehicle) Non current
portion of term loan - Rs. 0.961 Millions Current portion of term loan- Rs.
2.761 Millions. (B)
(Secured by hypothecation of vehicle) Non current
portion of term loan- Rs. 1.138 Millions Current portion of term loan - Rs.
3.914 Millions Short term
Borrowings (A)
(Secured by hypothecation of fixed assets,
inventories, book debts and personal guarantee of directors)- Canara Bank
Cash Credit Account - Rs. 76.997 Millions
Canara Bank - Export Packing Credit Limit (Secured by hypothecation of
fixed assets, inventories, book debts and personal gurantee of directors) -
Rs. 59.926 Millions. (B)
(Secured by hypothecation of fixed assets,
inventories, book debts and personal guarantee of directors)- Canara Bank
Cash Credit Account. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
·
SREI Equipment Finance Private Limited,
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India ·
Pyramid Finance Limited, Salgaocar Centre, RuaDe
Ourem, Panaji – 403001, Goa, India |
|
|
|
|
Auditors : |
|
|
Name : |
S P Bhandare and Associates Chartered Accountants |
|
Address : |
3/UG-4, Models Residency, State Inez, Panaji - 403001, Goa, India |
|
PAN No.: |
ACFPB1717N |
|
|
|
|
Subsidiaries : |
·
Power Engineering Spares And Services Private
Limited (Formerly known as Kratos Rental Private Limited)
[U74900GA2007PTC005491] ·
Mahalasa Acoustic Private Limited
[U28939GA2008PTC005914] ·
Man Rollo Power Generation (India) Private
Limited [U51101GA2007PTC007033] ·
Power Engineering (Sales) Limited, UK |
|
|
|
|
Enterprises
which are owned, or have
significant influence of or
are partners with Key
management personnel and
their relatives : |
·
PK Composites Private Limited
[U28113GA2000PTC002827] ·
Acoustic Components Private Limited
[U74999GA2008PTC005883] ·
Mahalasa Powergen Private Limited
[U31101GA2008PTC005838] ·
Mahalasa Powergen Trade and Services Private
Limited [U74999GA2008PTC005847] ·
Creative Manufacturing Solutions (India) Private
Limited [U29248GA2009PTC006186] ·
Mahalasa Agro Products ·
Mauli Associates ·
Gopalkrishna Investment Trust ·
Pai Kane Power Private Limited
[U29253HR2009PTC039276] |
|
|
|
|
Associate : |
·
Genset Carriers Private Limited
[U63040GA2008PTC005595] ·
Mahalasa Energy Private Limited
[U40105GA2001PTC002973] |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7717538 |
Equity Shares |
Rs.10/- each |
Rs.77.175 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5920226 |
Equity Shares |
Rs.10/- each |
Rs.59.202
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
59.202 |
59.202 |
|
(b) Reserves & Surplus |
|
172.491 |
98.949 |
|
(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) |
|
231.693 |
158.151 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.965 |
1.138 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1.678 |
1.512 |
|
Total
Non-current Liabilities (3) |
|
2.643 |
2.650 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
275.527 |
197.159 |
|
(b) Trade payables |
|
397.828 |
358.114 |
|
(c) Other current liabilities |
|
146.373 |
171.081 |
|
(d) Short-term provisions |
|
11.849 |
0.233 |
|
Total
Current Liabilities (4) |
|
831.577 |
726.587 |
|
|
|
|
|
|
TOTAL |
|
1,065.913 |
887.388 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
57.476 |
64.846 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.714 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
17.737 |
51.892 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
9.919 |
12.555 |
|
(e) Other Non-current assets |
|
0.000 |
29.296 |
|
Total
Non-Current Assets |
|
85.846 |
158.589 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
322.487 |
441.347 |
|
(c) Trade receivables |
|
315.590 |
108.536 |
|
(d) Cash and cash equivalents |
|
67.714 |
24.226 |
|
(e) Short-term loans and
advances |
|
231.023 |
151.414 |
|
(f) Other current assets |
|
43.253 |
3.276 |
|
Total
Current Assets |
|
980.067 |
728.799 |
|
|
|
|
|
|
TOTAL |
|
1,065.913 |
887.388 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
59.202 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
439.617 |
|
|
4] (Accumulated Losses) |
|
|
(205.993) |
|
|
NETWORTH |
|
|
292.826 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
164.397 |
|
|
2] Unsecured Loans |
|
|
9.065 |
|
|
TOTAL BORROWING |
|
|
173.462 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
466.288 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
72.149 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
52.791 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
398.208
|
|
|
Sundry Debtors |
|
|
150.612
|
|
|
Cash & Bank Balances |
|
|
47.730
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
147.370
|
|
Total
Current Assets |
|
|
743.920
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
294.017
|
|
|
Other Current Liabilities |
|
|
101.797
|
|
|
Provisions |
|
|
6.758
|
|
Total
Current Liabilities |
|
|
402.572
|
|
|
Net Current Assets |
|
|
341.348
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
466.288 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
1381.592 |
|
1007.560 |
|
|
|
Other Income |
11.561 |
18.092 |
|
|
|
|
TOTAL |
1393.153 |
1018.217 |
1007.560 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1307.346 |
1152.893 |
1133.505 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
85.807 |
(134.676) |
(125.945) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.264 |
0.000 |
4.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
73.543 |
(134.676) |
(130.517) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
945.050 |
406.265 |
291.786 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
NA |
|
449.153 |
|
|
|
Stores & Spares |
|
|
0.415 |
|
|
|
Traded Goods |
|
|
9.791 |
|
|
TOTAL IMPORTS |
NA |
NA |
459.359 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.42 |
(22.75) |
(32.06) |
|
%20PRIVATE%20LIMITED%20-%20262479%2029-Apr-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20262479%2029-Apr-2014_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20262479%2029-Apr-2014_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.28
|
(13.23)
|
(12.95)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.21
|
(13.47)
|
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.19
|
(16.12)
|
(15.43)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
(0.85)
|
(0.43)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.19
|
1.25
|
1.97
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.00
|
1.85
|
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
|
59.202 |
59.202 |
|
Reserves & Surplus |
|
98.949 |
172.491 |
|
Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Net
worth |
|
158.151 |
231.693 |
|
|
|
|
|
|
long-term borrowings |
|
1.138 |
0.965 |
|
Short term borrowings |
|
197.159 |
275.527 |
|
Total
borrowings |
|
198.297 |
276.492 |
|
Debt/Equity
ratio |
|
1.254 |
1.193 |
%20PRIVATE%20LIMITED%20-%20262479%2029-Apr-2014_files/image007.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
1,007.560 |
1,018.217 |
1,393.153 |
|
|
|
1.058 |
36.823 |
%20PRIVATE%20LIMITED%20-%20262479%2029-Apr-2014_files/image009.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
1,007.560 |
1,018.217 |
1,393.153 |
|
Profit After Tax |
(130.517) |
(134.676) |
73.543 |
|
|
(12.95%) |
(13.23%) |
5.28% |
%20PRIVATE%20LIMITED%20-%20262479%2029-Apr-2014_files/image011.gif)
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 |
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 |
Yes |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
OPERATIONS
The company’s top
line for the financial year 2012-13 registered a 41% growth over that of the previous
financial year. The major contribution to this growth is from exports, which
account for 80% as compared to 40% of the company’s turnover for the previous
financial year. The domestic turnover however registered a decline and margins
are under pressure on account of the intense competition and general economic
situation. The Directors expect that the efforts made in establishing marketing
network abroad continue to yield positive results in the coming financial
years. In view of the modest profits earned during the year, the Board wishes
to retain the same for Company’s operations and do not recommend payment of
dividend.
UNSECURED LOAN
|
Particulars |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Short term Borrowings |
|
|
|
Loans repayable on demand from others |
138.604 |
42.452 |
|
|
|
|
|
TOTAL |
138.604 |
42.452 |
Note :
Short term Borrowings
·
Loan from Director Mr.Atul D. Pai kane (Unsecured
repayable on demand) - Rs. 25.561 Millions - Loan from Vilman Packaging Private
Limited - Rs. 85.000 Millions (Secured by pledge of 2900911(previous year: Nil)
equity shares held in the company and personal guarantee of Managing Director
Mr. Atul D.Pai Kane) (Pledge of 1433100 (previous year: Nil) equity shares of Creative
Management Solutions (India) Private limited held by Acoustic Components
Private Limited and its Corporate Guarantee. Suppliers Bill Discounting from
Pyramid Finance Private Limited- Rs. 28.043 Millions.
·
Loan from Director Mr. Atul D.Pai kane (Unsecured
repayable on demand) - Rs. 29.321 Millions, Suppliers Bill Discounting from
Pyramid Finance Private Limited- Rs. 13.132 Millions.
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10304025 |
15/07/2011 |
999,054.00 |
SREI Equipment
Finance Private Limited |
'VISHWAKARMA',
86C, TOPSIA ROAD,, KOLKATA, West Be |
B19487305 |
|
2 |
10375275 |
23/09/2010 |
32,000,000.00 |
CANARA BANK |
MATHIAS PLAZA
BUILDING, 18TH JUNE ROAD, PANAJI, G |
A99232845 |
|
3 |
10243225 |
24/08/2010 |
2,000,000.00 |
CANARA BANK |
MATHIAS PLAZA
BUILDING, 18TH JUNE ROAD, PANAJI, G |
A94958956 |
|
4 |
10228692 |
01/06/2010 |
800,000.00 |
CANARA BANK |
MATHIAS PLAZA
BUILDING, 18TH JUNE ROAD, PANAJI, G |
A88977921 |
|
5 |
10226457 |
20/05/2010 |
1,250,000.00 |
CANARA BANK |
MATHIAS PLAZA BUILDING,
18TH JUNE ROAD, PANAJI, G |
A88235338 |
|
6 |
10190136 |
12/11/2009 |
1,150,000.00 |
BANK OF INDIA |
CAMPAL, PANAJI,
Goa - 403001, INDIA |
A75120063 |
|
7 |
10169907 |
16/11/2013 * |
405,900,000.00 |
CANARA BANK |
MATHIAS PLAZA BUILDING,
18TH JUNE ROAD, PANAJI, G |
B92047745 |
|
8 |
10237554 |
26/02/2009 |
930,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A62340799 |
|
9 |
10121984 |
25/08/2008 |
600,000.00 |
Canara Bank |
MATHIAS PLAZA,
18TH JUNE ROAD, Panaji, Goa - 4030 |
A45416732 |
|
10 |
10087493 |
17/12/2007 |
3,500,000.00 |
CANARA BANK |
MATHIAS PLAZA
BUILDING, PANAJI, Goa - 403001, INDI |
A31413206 |
* Date of charge modification
FIXED ASSETS:
- Land
- Plant and Machinery
- Computers
- Electrical Equipments
- Diesel Generating Set
- Furniture and Fixtures
- Vehicles
LEASE ASSETS:
- Plant and Machinery leased 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 records 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.60.50 |
|
|
1 |
Rs.101.69 |
|
Euro |
1 |
Rs.83.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.