MIRA
INFORM REPORT
|
Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DOOSAN POWER SYSTEMS INDIA PRIVATE LIMITED (w.e.f.16.10.2012) |
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Formerly Known
As : |
DOOSAN CHENNAI WORKS PRIVATE LIMITED
(w.e.f.21.02.2011) AE AND E CHENNAI WORKS PRIVATE LIMITED (w.e.f.30.09.2009) AE AND E CHENNAI WORKS LIMITED BABCOCK BORGIS POWER CHENNAI WORKS LIMITED |
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Registered
Office : |
Unit No. FF-35, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.07.2000 |
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Com. Reg. No.: |
55-258626 |
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Capital
Investment / Paid-up Capital : |
Rs. 2614.310 Millions |
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CIN No.: [Company Identification
No.] |
U31101DL2000PTC258626 |
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PAN No.: [Permanent Account No.] |
AABCB5946J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company engaged in the business of manufacturing / job work of boiler pressure parts viz. panels, headers and coils and designing, building, installation and maintaining engineering plants relating to thermal and coal power plants. |
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No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 23700000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION
COMPANY LIMITED, KOREA”. It is an established company having satisfactory
track record. A reserve of the company is low. However, the rating takes into consideration improved operational risk
profile and financial as well as managerial support that company receives
from its parent company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong holding support, the company can be considered for
business dealings at usual trade terms and conditions. NOTE: Doosan Power Systems India Private Limited (Company Registration No.
155023) Amalgamated with Doosan Chennai Works Private Limited (and after
amalgamation the name Doosan Chennai Works Private Limited changed to Doosan
Power Systems India Private Limited (Company Registration No. 258626). |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
CARE |
|
Rating |
Long Term Bank Facilities = AA (SO) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
23.04.2014 |
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 PARTED BY
|
Name : |
Mr. Anil Sinha |
|
Designation : |
Accounts Department |
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Contact No.: |
91-124-4398200 |
|
Date : |
13.08.2014 |
LOCATIONS
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Registered Office : |
Unit No. FF-35, Vasant Square, Plot No. A, Commuinity Centre,
Pocket-V, Sector-B, Vasant Kunj, New Delhi – 110070, India |
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Tel. No.: |
91-11-40000255 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
16th Floor, DLF Square Building, Jacaranda Marg, DLF Phase I,
Gurgaon – 122002, Haryana, India |
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Tel. No.: |
91-124-4398200 |
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Fax No.: |
91-124-4247006 |
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Factory : |
18/2A, Sennerkuppam-By-Pass Road, Poonamallee Road, Poonammallee,
Chennai – 600056, Tamilnadu, India |
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Tel. No.: |
91-44-66455566/ 33035000 |
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Fax No.: |
91-44-66455501 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Jongki Lee |
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Designation : |
Managing Director |
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Address : |
B-01/601, 6th Floor, Block – B, Sahara Grace Apartment, M. G.
Road, Sector – 28, Chakkarpur, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
13.02.1953 |
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Date of Appointment : |
27.11.2012 |
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PAN No.: |
AGMPL1042K |
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DIN No.: |
03298750 |
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Name : |
Mr. Hoyoung Ryu |
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Designation : |
Whole-Time Director |
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Address : |
B-1103, Palm Spring, Golf Course Road, DLF-5, Gurgaon – 122002,
Haryana, India |
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Date of Birth/Age : |
20.08.1962 |
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Date of Appointment : |
10.10.2012 |
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PAN No.: |
BIPPR1202P |
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DIN No.: |
06419804 |
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Name : |
Mr. Sung Ho Park |
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Designation : |
Whole-Time Director |
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Address : |
Sua – 193, The Summit, DLF Phase – V, Gurgaon – 122002, Haryana,
India |
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Date of Birth/Age : |
27.10.1974 |
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Date of Appointment : |
10.10.2012 |
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PAN No.: |
BRCPP8011N |
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DIN No.: |
06419808 |
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Name : |
Mr. Hyung Rak Chung |
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Designation : |
Nominee Director |
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Address : |
101-604, 41, Bangbae-Ro, 26, GIL, Seocho-Gu, Sepul, NA, Korea Republic
of. |
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Date of Birth/Age : |
10.08.1969 |
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Date of Appointment : |
25.01.2013 |
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DIN No.: |
06472247 |
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Name : |
Key Sun Han |
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Designation : |
Nominee Director |
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Address : |
Hyundai Memphis Apartment, 239, Bangbae-Ro-Seochi-Gu, Seoul, N.A.
Korea Republic of. |
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Date of Birth/Age : |
20.08.1951 |
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Date of Appointment : |
25.01.2013 |
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DIN No.: |
06472257 |
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Name : |
Mr. Myeongho Jang |
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Designation : |
Nominee Director |
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Address : |
Raemian Sur, 326-903, 12, Byeoryang Ro Gwacheon-Si, Gyeonggido, NA,
Korea Republic of. |
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Date of Birth/Age : |
07.02.1964 |
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Date of Appointment : |
25.01.2013 |
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DIN No.: |
06481086 |
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Name : |
Mr. Sung Won Kim |
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Designation : |
Whole-Time Director |
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Address : |
Plat No.1A, First Floor, Cambrae Hall, 72, Dr. P.V. Cherio Road, Egmore
Chennai – 600105, Tamilnadu, India |
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Date of Birth/Age : |
19.12.1956 |
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Date of Appointment : |
01.10.2009 |
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DIN No.: |
06659499 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Kumar Sinha |
|
Designation : |
Secretary |
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Address : |
B-75A, Shiv Park, Khanpur, New Delhi – 110074, India |
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Date of Birth/Age : |
28.11.1974 |
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Date of Appointment : |
10.10.2012 |
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PAN No.: |
AOHPS6406B |
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|
Name : |
Mr. Anil Sinha |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Doosan Heavy Industries and Construction Company Limited, Korea |
33908401 |
99.45 |
|
Doosan Power System Overseas Investments Limited, U.K. |
187922 |
0.55 |
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Total |
34096323 |
100.00 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding
|
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged in the business of manufacturing / job
work of boiler pressure parts viz. panels, headers and coils and designing,
building, installation and maintaining engineering plants relating to thermal
and coal power plants. |
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Products / Services : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Korea Japan |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
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No. of Employees : |
800 (Approximately) |
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Bankers : |
· Axis Bank Limited Corporate Banking Branch, Ground Floor, Karumithu Nilayam, 192, Anna
Salai, Chennai – 600002, Tamilnadu, India
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
7th Floor, Building 10, Tower- B, DLF Cyber City Complex.
DLF City Phase- II, Gurgaon - 122002, Haryana, India |
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PAN No.: |
AABFD2095B |
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Ultimate Holding
Company : |
Doosan Corporation, South Korea - Doosan Corporation Glonet (BG) - Division of Doosan Corporation,
South Korea - Doosan Corporation Information and Communication, (BU) - Division of
Doosan Corporation, South Korea |
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Holding Company : |
Doosan Heavy Industries and Construction Company Limited, South Korea |
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Fellow Subsidiaries
: |
· Doosan Engineering and Service LLC, USA Skoda Power Private Limited, India [U40101DL2004PTC130312] Doosan Heavy Industries Vietnam Company Limited Doosan Infracore International Inc Doosan Power Systems Overseas Investments Limited, UK. Doosan Power Systems Limited, UK |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36551500 |
Equity Shares |
Rs.100/- each |
Rs. 3655.150 Millions |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34096323 |
Equity Shares |
Rs.100/- each |
Rs. 3409.632 Millions |
|
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AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36551500 |
Equity Shares |
Rs.100/- each |
Rs. 3655.150 Millions |
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26143100 |
Equity Shares |
Rs.100/- each |
Rs. 2614.310 Millions |
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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 |
2614.310 |
2451.818 |
500.000 |
|
(b) Reserves & Surplus |
2285.190 |
1979.738 |
1248.861 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
1033.919 |
162.492 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5933.419 |
4594.048 |
1748.861 |
|
|
|
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|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
11283.358 |
3321.622 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
163.623 |
13.311 |
3.158 |
|
Total Non-current Liabilities (3) |
11446.981 |
3334.933 |
3.158 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1015.819 |
0.000 |
95.748 |
|
(b) Trade payables |
1140.705 |
983.781 |
38.403 |
|
(c) Other current
liabilities |
3547.669 |
4280.292 |
21.451 |
|
(d) Short-term provisions |
294.516 |
10.767 |
1.027 |
|
Total Current Liabilities (4) |
5998.709 |
5274.840 |
156.629 |
|
|
|
|
|
|
TOTAL |
23379.109 |
13203.821 |
1908.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4627.247 |
2168.174 |
1621.762 |
|
(ii) Intangible Assets |
186.723 |
3.660 |
0.373 |
|
(iii) Capital
work-in-progress |
124.367 |
1151.581 |
0.000 |
|
(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) |
123.131 |
23.150 |
0.000 |
|
(d) Long-term Loan and Advances |
655.616 |
500.997 |
8.215 |
|
(e) Other Non-current assets |
4457.704 |
1720.214 |
0.000 |
|
Total Non-Current Assets |
10174.788 |
5567.776 |
1630.350 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
110.401 |
303.564 |
40.678 |
|
(c) Trade receivables |
4110.545 |
2011.078 |
39.459 |
|
(d) Cash and cash
equivalents |
2492.535 |
1005.290 |
194.634 |
|
(e) Short-term loans and
advances |
4331.830 |
4193.606 |
3.324 |
|
(f) Other current assets |
2159.010 |
122.507 |
0.203 |
|
Total Current Assets |
13204.321 |
7636.045 |
278.298 |
|
|
|
|
|
|
TOTAL |
23379.109 |
13203.821 |
1908.648 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
30430.830 |
20232.760 |
163.910 |
|
|
|
Other Income |
275.240 |
134.780 |
3.730 |
|
|
|
TOTAL |
30706.070 |
20367.540 |
167.640 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
30263.200 |
19828.450 |
208.430 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
442.870 |
539.090 |
(40.790) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
137.420 |
188.280 |
2.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
305.450 |
350.810 |
(42.810) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
11.68 |
25.70 |
(13.71) |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
30000.000 |
|
|
|
|
|
The above information has been parted by Mr. Anil Sinha [Accounts Department]
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.99 |
1.72 |
(25.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.46 |
2.66 |
(24.89) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91 |
4.48 |
(2.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.12 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17 |
0.00 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20 |
1.45 |
1.78 |
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 |
500.000 |
2451.818 |
2614.310 |
|
Reserves & Surplus |
1248.861 |
1979.738 |
2285.190 |
|
Share Application money pending allotment |
0.000 |
162.492 |
1033.919 |
|
Net
worth |
1748.861 |
4594.048 |
5933.419 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
95.748 |
0.000 |
1015.819 |
|
Total
borrowings |
95.748 |
0.000 |
1015.819 |
|
Debt/Equity ratio |
0.055 |
0.000 |
0.171 |
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 |
163.910 |
20232.760 |
30430.830 |
|
|
|
12,243.823 |
50.404 |
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 |
163.910 |
20232.760 |
30430.830 |
|
Profit/ (Loss) |
(42.810) |
350.810 |
305.450 |
|
|
(26.12%) |
1.73% |
1.00% |
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
Particular |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on
demand from banks |
|
|
|
Buyers credit-unsecured* |
1015.819 |
0.000 |
|
|
|
|
|
Total |
1015.819 |
0.000 |
|
NOTE: (*Guaranteed by corporate guarantee issued by Doosan Heavy Industries and Company Limited, the holding company) |
||
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 18/2A,
Sennerkuppam-By-Pass Road, Poonamallee Road, Poonammallee, Chennai – 600056,
Tamilnadu, India to present address w.e.f.16.09.2013.
CORPORATE INFORMATION
Subject was incorporated on 20th July, 2000 to carry on the business of manufacturing/ job work of boiler pressure parts viz. panels, headers and coils and designing, building, installation and maintaining engineering plants relating to thermal and coal power plants. The Company is also carrying out business of execution of turnkey projects of steam generating equipment, supply of spares and providing related services.
REVIEW OF OPERATIONS
The Company has completed another innovative year of its operations. During the year the total revenue of the Company was higher by 50.40 % this year at Rs.30706.070 millions as against Rs. 20367.540 millions during the previous year. The Expenses has increased by 52.63 % from Rs. 19828.440 millions to Rs. 30263.200 millions. The Company has earned a Profit after Tax of Rs.305.450 millions as against Rs.350.810 millions in the previous year. Figures of previous year have been re-grouped, wherever necessary to conform to the Current Years classification. The Directors are continuously looking for avenues for future growth of the Company.
FUTURE OUTLOOK
DPSI has consolidated its capabilities across the power value chain for New as well as Renovation and Modernization (R&M) projects in the capacity of EPC Contractor. The Company won another Boiler project from NTPC, Lara (2x800 MW) in Chhattisgarh. The Company is well poised for growth in turnover and some improvement in margins in the next year. The Company is taking all necessary steps for getting the new projects and reduction in cost wherever required. The prevailing challenging Global and Indian macroeconomic conditions make it imperative for DPSI to specifically focus on operational excellence to ensure Quality Cost Delivery (QCD) competitiveness. In view of the various initiatives and policy measures being taken by the Govt., the outlook for overall growth of Indian economy, construction and infrastructure in particular seems to be healthy and promising.
FIXED ASSETS
· Freehold Land
Buildings
Plant
and Machinery
Office
Equipments
Computers
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 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] 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. 61.06 |
|
|
1 |
Rs. 101.84 |
|
Euro |
1 |
Rs. 81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
48 |
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.