MIRA
INFORM REPORT
|
Report Date : |
09.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUPTA POWER INFRASTRUCTURE LIMITED (w.e.f.31.03.2008) |
|
|
|
|
Formerly Known
As : |
GUPTA POWER
INFRASTRUCTURE PRIVATE
LIMITED [w.e.f.26.03.2008] GUPTA CABLES
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
EN-62, Sector – V, 7th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.05.1961 |
|
|
|
|
Com. Reg. No.: |
21-025104 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 84.426
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300WB1961PLC025104 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALG00457C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG9210B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Conductors, H.T. Cables and Power Cables. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8890000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is sound and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for business dealing 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
November 19, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
November 19, 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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-674-2313898]
LOCATIONS
|
Registered Office : |
EN-62, Sector – V, 7th Floor, Salt Lake City, Kolkata –
700091, West Bengal, India |
|
Tel. No.: |
91-33-39584017/ 22438441/ 40657348 |
|
Mobile No.: |
91-9338774267 (Mr. Sangram Ray) |
|
Fax No.: |
91-33-22438441 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Cuttack Road, Bhubaneshwar – 751006, Orissa, India |
|
Tel. No.: |
91-674-2313898/ 2312945 |
|
Fax No.: |
91-674-2312083 |
|
|
|
|
Factory 1 : |
Plot No-F/9, IDCO IID Centre, Khurda-752054, Orissa, India |
|
Tel. No.: |
91-674-2313898/ 2312945 |
|
Fax No.: |
91-674-2312083/ 2312876 |
|
|
|
|
Factory 2 : |
Shed No.13 and 18, Phase - V, SIDCO Industrial Estate, Gummidipoondi, Chennai
– 601201, Tamilnadu, India |
|
Tel. No.: |
91-44-27921349 |
|
Fax No.: |
91-44-37909900 |
|
|
|
|
Factory 3 : |
Plot No. 132, Nandnagar Industrial Estate Phase II, VIII. -
Mahaukheraganj, Kasipur -244713, Uttarakhand, India |
|
|
|
|
Marketing Office 1 : |
No. L-16 / 2, 2nd Floor, L Block, 26th Street, Annanagar [East] Chennai - 600102, Tamilnadu, India |
|
Tel. No.: |
91-44-26222262 |
|
E-Mail : |
|
|
|
|
|
Marketing Office 2 : |
122, (First Floor), DLF Galeria Mall Mayur Vihar, Phase-I, District Center Delhi - 110091, India |
|
Tel. No.: |
91-11-47513131 |
|
|
|
|
Marketing Office 3 : |
Unique House, S2 (Ground Floor), Besides Procter and Gamble (P&G) Plaza, Chakala Road, Andheri [East], Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-32261641/ 2 |
|
Fax No.: |
91-22-28328199 |
|
E-Mail : |
|
|
|
|
|
Branch Offices : |
Located at: · Bangalore · Bhopal · Hyderabad · Raipur · Ranchi |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Mahendra Kumar Gupta |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
01.10.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.09.1997 |
|
PAN No.: |
AASPG3097R |
|
DIN No.: |
00492922 |
|
|
|
|
Name : |
Mr. Jitendra Mohan Gupta |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
09.07.1972 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.09.1997 |
|
PAN No.: |
AASPG3099B |
|
DIN No.: |
00492662 |
|
|
|
|
Name : |
Mr. Abhishek Gupta |
|
Designation : |
Director |
|
Address : |
Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa, India
|
|
Date of Birth/Age : |
02.03.1975 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
20.12.2006 |
|
PAN No.: |
ADRPG4945N |
|
DIN No.: |
00492732 |
|
|
|
|
Name : |
Mr. Bhagat Ram Gupta |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
12.11.1943 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.09.1997 |
|
PAN No.: |
AASPG3098A |
|
DIN No.: |
00492874 |
|
|
|
|
Name : |
Mrs. Kiran Devi Gupta |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
18.01.1945 |
|
Date of Appointment : |
01.01.2004 |
|
DIN No.: |
01348787 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Bhagat Ram Gupta |
|
92280 |
|
Kiran Devi Gupta |
|
113460 |
|
Mahendra Kumar Gupta |
|
243980 |
|
Padma Devi Gupta |
|
288100 |
|
Subhash Chandra Gupta |
|
239950 |
|
Sushila Devi Gupta |
|
154650 |
|
Adi Narayan Gupta |
|
422500 |
|
Bhagawatilal Prasad Agrawala |
|
1660 |
|
Sharada Kumari Agrawala |
|
500 |
|
Jitendra Mohan Gupta |
|
100000 |
|
Abhishek Gupta |
|
306440 |
|
Adi Narayan Gupta H.U.F. |
|
390310 |
|
Subhash Chandra Gupta H.U.F. |
|
490080 |
|
Rekha Gupta |
|
293730 |
|
Mahendra Kumar Gupta HUF |
|
293450 |
|
Bhagat Ram Gupta HUF |
|
294000 |
|
Bhagat Ram Gupta M. HUF |
|
119000 |
|
Bhagat Ram Gupta S. HUF |
|
125000 |
|
Sunita Devi Gupta |
|
323470 |
|
Fidelity Marketing (Private)
Limited, India |
|
1238000 |
|
Flexo Contra Private Limited,
India |
|
732000 |
|
Hariom Vanijya Private Limited,
India |
|
500000 |
|
ARP Securities Limited, India |
|
594000 |
|
Juhi Vanijya Private Limited,
India |
|
436000 |
|
Harsh Mohan Gupta |
|
250000 |
|
Divine Infratech Private
Limited, India |
|
200000 |
|
Lavanya Financials Consultant
Private Limited, India |
|
200000 |
|
|
|
|
|
Total |
|
8442560 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
46.00 |
|
Directors
or relatives of directors |
54.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Conductors, H.T. Cables and Power Cables. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
Customers : |
· Aarti Steels Limited · ABB Limited · Bajaj Electricals · BILT · FACOR · KESCO · OPGC Limited ·
TATA Steel |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Allahabad Bank 159,Bapuji Nagar, Bhubaneswar - 751009, Orissa, India · Canara Bank Buxi Bazar Branch, Buxibazar, Cuttack - 753001, Orissa, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Axis Bank Limited Archbiship's House, Satyanagar, Bhubaneswar, Bhubaneswar - 751007, Orissa, India · ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Indusind Bank Limited Savitri Tower, 3A Upper Wood Street, Kolkata - 700017, West Bengal, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M K P S and Associates Chartered Accountants |
|
Address : |
Block-B, Monalika Lalbahadur Shastri, Old Station Square,
Bhubaneswar – 751006, Orissa, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AASFM8070A |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,900,000 |
Equity Shares |
Rs. 10/- each |
Rs. 99.000 Millions |
|
10,000 |
Preference Shares |
Rs. 100/- each |
Rs. 1.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,442,560 |
Equity Shares |
Rs. 10/- each |
Rs. 84.426
Millions |
|
|
|
|
|
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 |
84.426 |
84.426 |
65.426 |
|
(b) Reserves & Surplus |
2138.109 |
1748.001 |
1208.720 |
|
(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) |
2222.535 |
1832.427 |
1274.146 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
447.765 |
393.808 |
415.766 |
|
(b) Deferred tax liabilities (Net) |
8.050 |
4.888 |
1.173 |
|
(c) Other long
term liabilities |
86.731 |
80.619 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
542.546 |
479.315 |
416.939 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2601.792 |
1450.669 |
1304.348 |
|
(b)
Trade payables |
726.801 |
518.404 |
730.294 |
|
(c)
Other current liabilities |
183.018 |
144.735 |
106.796 |
|
(d) Short-term
provisions |
10.379 |
22.652 |
8.204 |
|
Total Current
Liabilities (4) |
3521.990 |
2136.460 |
2149.642 |
|
|
|
|
|
|
TOTAL |
6287.071 |
4448.202 |
3840.727 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1237.258 |
789.940 |
632.754 |
|
(ii)
Intangible Assets |
12.556 |
1.547 |
1.460 |
|
(iii)
Capital work-in-progress |
250.527 |
378.171 |
176.014 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
60.374 |
43.652 |
46.108 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1560.715 |
1213.310 |
856.336 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
10.690 |
10.115 |
10.115 |
|
(b)
Inventories |
1427.816 |
1024.748 |
1139.988 |
|
(c)
Trade receivables |
2661.091 |
1541.550 |
1316.728 |
|
(d) Cash
and cash equivalents |
523.826 |
537.578 |
417.804 |
|
(e)
Short-term loans and advances |
102.873 |
120.565 |
99.064 |
|
(f)
Other current assets |
0.060 |
0.336 |
0.692 |
|
Total
Current Assets |
4726.356 |
3234.892 |
2984.391 |
|
|
|
|
|
|
TOTAL |
6287.071 |
4448.202 |
3840.727 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
15702.692 |
11722.860 |
9380.260 |
|
|
|
Other Income |
0.448 |
0.728 |
0.000 |
|
|
|
TOTAL (A) |
15703.140 |
11723.588 |
9380.260 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
13760.998 |
9891.981 |
8213.702 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(13.136) |
97.506 |
(399.641) |
|
|
|
Employees benefits expense |
142.656 |
114.370 |
81.408 |
|
|
|
Other expenses |
684.190 |
636.861 |
848.363 |
|
|
|
TOTAL (B) |
14574.708 |
10740.718 |
8743.832 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1128.432 |
982.870 |
636.428 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
577.955 |
512.802 |
255.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
550.477 |
470.068 |
380.856 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
102.777 |
69.000 |
75.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
447.700 |
401.068 |
305.172 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
56.670 |
91.589 |
66.974 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
391.030 |
309.479 |
238.198 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Value] |
531.400 |
625.200 |
169.400 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
46.32 |
36.66 |
36.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.49 |
2.64 |
2.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.85 |
3.42 |
3.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.42 |
9.85 |
8.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.22 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.37 |
1.01 |
1.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.51 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
65.426 |
84.426 |
84.426 |
|
Reserves & Surplus |
1208.720 |
1748.001 |
2138.109 |
|
Net
worth |
1274.146 |
1832.427 |
2222.535 |
|
|
|
|
|
|
long-term borrowings |
415.766 |
393.808 |
447.765 |
|
Short term borrowings |
1304.348 |
1450.669 |
2601.792 |
|
Total
borrowings |
1720.114 |
1844.477 |
3049.557 |
|
Debt/Equity ratio |
1.350 |
1.007 |
1.372 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9380.260 |
11722.860 |
15702.692 |
|
|
|
24.974 |
33.949 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9380.260 |
11722.860 |
15702.692 |
|
Profit |
238.198 |
309.479 |
391.030 |
|
|
2.54% |
2.64% |
2.49% |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10354587 |
18/04/2013 * |
575,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B75154112 |
|
2 |
10344388 |
31/01/2014 * |
472,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B95252169 |
|
3 |
10345801 |
30/12/2013 * |
405,000,000.00 |
INDUSIND BANK LIMITED |
SAVITRI TOWER, 3A UPPER WOOD STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
B95036141 |
|
4 |
10211964 |
17/09/2013 * |
7,043,750,000.00 |
CANARA BANK |
BUXI BAZAR BRANCH, MANGLABAG, CUTTACK, ORISSA - 753001, INDIA |
B88718283 |
|
5 |
10211954 |
22/02/2010 |
250,000,000.00 |
CANARA BANK |
BUXI BAZAR BRANCH, MANGLABAG, CUTTACK, ORISSA - 753001, INDIA |
A83171884 |
|
6 |
10135785 |
07/05/2014 * |
14,206,250,000.00 |
CANARA BANK |
SUR COMPLEX, MANGLABAG, CUTTACK, ORISSA - 753001, INDIA |
C04960803 |
|
7 |
10115133 |
20/09/2013 * |
4,282,200,000.00 |
ALLAHABAD BANK |
159,BAPUJI NAGAR, BHUBANESWAR, ORISSA - 751009, INDIA |
B87206207 |
|
8 |
90252486 |
19/11/2013 * |
1,337,500,000.00 |
AXIS BANK LIMITED |
ARCHBISHIP'S HOUSE, SATYANAGAR, BHUBANESWAR, ORISSA - 751007, INDIA |
B93789592 |
|
9 |
80013491 |
15/10/2012 * |
3,994,500,000.00 |
ALLAHABAD BANK |
159,BAPUJI NAGAR, BHUBANESWAR, ORISSA - 751009, INDIA |
B61840575 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other loans and advances |
136.836 |
127.018 |
|
|
|
|
|
Total |
136.836 |
127.018 |
YEAR IN RETROSPECT
· Efforts to reduce right-of-way are complemented with the use of high temperature endurance conductor for select transmission corridor to increase the current rating.
· Presently the technology to use high temperature and low sag conductor is becoming more important. Maximum temperature limit of the Aluminium Conductor Steel Reinforced (ACSR) conductors is about 100°C and it may not be possible to go beyond this limit as galvanization of the wire would be tampered and secondly there may be a creep in the conductor. However, in special situations they can use high temperature endurance conductors which can withstand temperature upto 230°C like Invar. This type of conductor is designed with max. operating temperature of 2100C against 85-950 C for ACSR conductor. It gives matching thermal rating and also has been found to be economical due to considerable savings on structure.
· The Company has successfully started manufacturing HTLS Conductor with its in house R&D. It is enjoying almost monopoly for this product as there are only two-three Companies in India which are capable of manufacturing these Conductors. There exists a very wide demand for this product as conventional conductors are being replaced with this product as it has three times current carrying capacity. In urban areas the demand for power is increasing rapidly which requires laying up extra conductors. As erection of fresh towers is not possible due to requirement of right off bay, there is need of HTLS conductors on existing towers as it carries three times power as compared to the conventional conductors at the same weight. The Company has tied up with Mercury Cables, USA for procurement of HVCRC Core which is the main ingredient for manufacturing of HTLS Conductors. As per the agreed terms, Mercury Cables shall supply this product exclusively to the Company in India. The Company has already been technically qualified for supply and stringing of HTLS Type Conductor in OPTCL, UPPTCL, PGCIL, etc.
· The company's products have been approved by Kazakhstan Electricity Grid Operating Company and it is supplying materials against the Purchase Order worth Rs. 700.000 Millions received from KEC.
· The company's supplies against the purchase order of Kalpataru for their Congo Project has been satisfactorily completed and recently got another order for Armenia from them.
· PGCIL has invited a tender for procurement of ACSR Zebra Conductor for their Vemagiri-Khammam and Nagapatnam projects under TBCB (Tariff Based Cost Bidding) system. The total value of the material required for this project is apx. Rs. 4250.000 Millions. The company is expecting a major share out of above.
· Under CAPEX plan of Govt. of Odisa, an investment of 23000.000 Millions was envisaged which was jointly funded by Govt. of Odisha and Govt. of India for transmission lines. The company has already received Orders worth of Rs.1500.000 Millions under this Scheme for supply of Conductor, Cable and turnkey execution of Substations as well as feeder line. The company is expecting further orders of around Rs. 4500.000 Millions in near future.
· The company has been directly qualified for 132 KV Transmission Line of Power Grid Corpn. of India Limited, and already been awarded work orders worth of Rs. 230.000 Millions for 2 Transmission Line Packages in Odisha. The company is expecting to get further orders upon completion of project.
· The company has also been directly qualified for 400 KV Line and Switch yard work of Vedanta in Jharsuguda Dist., Odisha worth of Rs.800.000 Millions. The company is expecting the order shortly.
· The company has also been technically qualified for supply and stringing of HTLS Type Conductor in OPTCL, UPPTCL, PGCIL, etc.
· The company has received work order worth of Rs.180.000 Millions from CESU for construction of both underground Cabling through HDD and overhead line on NBLS towers from OPTCL Ranasinghpur grid to IOCL Depot at Jatni.
· The Company has successfully completed and handed over 1st phase RGGVY Bhadrak Project of POWERGRID valuing 68.94 Crores. The scope of work included 86.7 KM 11 KV feeder line, electrification of 1949 villages having 47,996 BPL households. 2nd phase work is in full swing and scheduled for April, 2013 completion,
· IDCO and NALCO are jointly developing Angul Aluminium Park which is adjacent to Nalco’s site. Three Companies of national/international repute have been shortlisted for establishing their unit at this park in which GPIL is one. Cost of production shall be significantly reduced here as Nalco shall provide raw material in molten form.
· The Company has installed new AEI make ultramodern fully loaded high speed multi strand machine in Khurda plant which will enhance the production capacity significantly to meet the growing market demand.
· The Company has successfully completed entire village electrification works of 4th and 5th Phases under Biju Gram Jyoti Yojona in Bhubaneswar and Jatni blocks and 2nd phase electrification under Biju Saharanchal Vidyuti Karan Yojona in Jatni and Khurda municipality areas.
· The Income Tax Holiday period of five years is completed in 2012-13 for unit situated at Uttarakhand. (Exicise Holiday shall continue till 2017-18 as per the policy) In order to avail further five years of Income Tax holiday the Company has set up another unit at Uttarakhand. In addition to availment of I.T. exemption, this unit shall also cater to the need of customers who need material with excise. With such the production capacity vis-a-vis turnover at Uttarakhand has registered a remarkable growth.
GENERAL MARKET AND
FUTURE OUTLOOK
1)
The Government of India has set an ambitious target
for system augmentation in the distribution segment. It plans to quadruple the
distribution network by adding 3.2 million ct. km of distribution lines in the
Eleventh Plan. Another 4.2 million ct. km is planned to be added in the Twelfth
Plan. Thus by the end of the Twelfth Plan, the total distribution network in the
country would have doubled, thus greatly facilitating delivery of power to the
expanding base of end-use customers. Further, it plans to bring about 214,000
MVA of transformer capacity in the Eleventh Plan and another 270,000 MVA in the
Twelfth Plan. Of these, the distribution transformers for the Eleventh and
Twelfth Plans will be 128,000 MVA and 162,000 MVA respectively. As such the
future requirement of products of the Company shall accelerate manifold.
2)
Power Grid Corporation of India Limited has plans
to invest Rs. 2520000.000 Millions both in interstate and state sector in XII
five year plan commencing from 01.04.2012. Requirement of cables and conductors
is quite high in above.
3)
Govt. of India have declared a capex plan of Rs.
23000.000 Millions for Orissa for up gradation of existing lines and laying up
of cables in place of conductors in rural areas to control power theft. The
above capex plan shall be completed in 3 to 4 years.
4)
Govt. of Orissa has taken decision to procure 50%
of its requirement from local industries. As there are only 3-4 units in the
state, the company shall be highly beneficial with such decision.
5)
Govt. of India and govt. of various states
including Orissa have decided to lay underground cables in place of overhead
conductors which shall check power theft, beautification, better voltage in
urban areas. As the Company has already commenced manufacturing of H.T. Cables
and is the only one in the State, it forsees to get voluminous orders.
6)
Orissa has become an industrial hub in the country.
A good number of Steel, Aluminium and Power Projects have come up in Orissa
which has boosted in the requirement of power cables. The Company have started
supplying the material to a number of units.
7)
With their experience in RE programme and turnkey
contracts of transmission line and substation, the Company has plans for
manufacturing of transmission towers and poles in future to cater with the
upcoming huge demand. With such it shall be qualified to erect conductor
transmission line on turnkey basis with its own products and without depending
on outside suppliers which shall add tremendous value to its products.
CONTINGENT
LIABILITIES:
Contingencies,
which are likely to materialize into liabilities till the date of approval of
Accounts by the Board of Directors and having material effect, are being
provided for:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
i) Claims against the company pending appellate/ judicial
decisions: |
|
|
|
a) Appeal pending against VAT demand at the Sales Tax
Tribunal |
13.200 |
13.200 |
|
b) Appeal pending against Entry Tax demand at the Tribunal
and ACST(Appeal), Berhampur |
14.178 |
14.178 |
|
c) Appeal pending against CST demand at
ACST(Appeal),Bhubaneswar & Berhampur |
101.100 |
101.100 |
|
ii) Bank Guarantees issued by bankers on behalf of the
company |
3369.077 |
3714.934 |
|
iii) Other claims against the company not acknowledged as
debts |
0.000 |
0.000 |
FIXED ASSETS:
· Land
· Buildings
· Office building
· Other building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.56 |
|
|
1 |
Rs. 103.50 |
|
Euro |
1 |
Rs. 82.41 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.