|
Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAYS POWER EXPERTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
29, Co-operative Colony, Sodala, Jaipur – 302006, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.03.2011 |
|
|
|
|
Com. Reg. No.: |
17-034452 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40106RJ2011PTC034452 |
|
|
|
|
IEC No.: |
1311020403 |
|
|
|
|
TIN No.: |
08534054085 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRR06416E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCR1929K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Developer of Solar Power Plant and Providing Consultancy Services. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
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 6000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management has failed to file its latest financials of 2013 with the
government department. As per available, the management has seen an increase in its sales
volume as well as net profitability during 2012. Whereas, the profit margin of the company appears to be low. However, trade relations are fair. Business is active. Payment terms are
reported as slow but correct. The company can be considered for business dealings with some 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current
account deficit narrowed in the quarter ended September as government measures to
curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous month,
even while indicating the fifth successive monthly contraction, according the
HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Solar Energy Gradings: “SP3B” |
|
Rating Explanation |
Moderate performance capability and moderate
financial strength. |
|
Date |
07.01.2014 |
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjeev Garg |
|
Designation : |
Assistance Accounts Manager |
|
Contact No.: |
91-11-46800400 |
|
Date : |
06.01.2014 |
LOCATIONS
|
Registered Office : |
29, Co-operative Colony, Sodala, Jaipur – 302006, Rajasthan,
India |
|
Tel. No.: |
91-11-46800400 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
203, Ashoka Estate, Barakhamba Road, New Delhi – 110001, India |
|
Tel. No.: |
91-11-46800400 |
|
Fax No.: |
91-11-43851100 |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Rahul Gupta |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
29, Co-operative Colony, Sodala, Jaipur – 302006, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.09.1987 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.03.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02585172 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Nidhi Gupta |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
29, Co-operative Colony, Sodala, Jaipur – 302006, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.12.1990 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.03.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03354277 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Garg |
|
Designation : |
Assistance Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rahul Gupta |
|
7000 |
|
Nidhi Gupta |
|
3000 |
|
|
|
|
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Developer of Solar Power Plant and Providing Consultancy Services. |
|
|
|
|
Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
·
Machinery |
|
Countries : |
·
Korea ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
End Users ·
Jakson ·
Acciona ·
Bikaji ·
Vikramsolar ·
LEPL ·
Atha Group ·
Ganges Enterprises Private Limited ·
Hasya Enterprises ·
Laxmi Sun System ·
Nishka ·
Laxmi Publications |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
60 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
HDFC Bank Limited, Green Park, New Delhi, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kailash K. Gupta and Associates Chartered Accountants |
|
Address : |
4353/4C 1st Floor, Ansari Road, Darya Ganj, New Delhi – 110002, India |
|
Tel. No.: |
91-11-2328219 / 23281921 |
|
Fax No.: |
91-11-23282119 |
|
E-Mail : |
|
|
PAN No.: |
AAHPG4927B |
CAPITAL STRUCTURE
As on: 30.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
|
|
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.100 |
0.100 |
|
(b) Reserves & Surplus |
|
1.258 |
0.041 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.160 |
0.160 |
|
Total Shareholders’ Funds (1) + (2) |
|
1.518 |
0.301 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.535 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.008 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.535 |
0.008 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1.640 |
0.855 |
|
(b)
Trade payables |
|
7.182 |
0.000 |
|
(c)
Other current liabilities |
|
23.954 |
0.172 |
|
(d) Short-term provisions |
|
0.531 |
0.011 |
|
Total Current
Liabilities (4) |
|
33.307 |
1.038 |
|
|
|
|
|
|
TOTAL |
|
35.360 |
1.347 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3.118 |
0.551 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
0.006 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
1.176 |
0.303 |
|
Total Non-Current
Assets |
|
4.300 |
0.854 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
9.090 |
0.482 |
|
(c)
Trade receivables |
|
3.380 |
0.007 |
|
(d) Cash
and cash equivalents |
|
4.112 |
0.000 |
|
(e)
Short-term loans and advances |
|
4.540 |
0.000 |
|
(f)
Other current assets |
|
9.938 |
0.004 |
|
Total
Current Assets |
|
31.060 |
0.493 |
|
|
|
|
|
|
TOTAL |
|
35.360 |
1.347 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
15.768 |
0.482 |
|
|
|
Other Income |
|
0.101 |
0.000 |
|
|
|
TOTAL (A) |
|
15.869 |
0.482 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Change in inventories |
|
(9.090) |
0.000 |
|
|
|
Purchase stock in trade |
|
9.245 |
0.000 |
|
|
|
Employee benefit expenses |
|
4.296 |
0.095 |
|
|
|
Other Expenses |
|
9.164 |
0.326 |
|
|
|
TOTAL (B) |
|
13.615 |
0.421 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
2.254 |
0.061 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.079 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
2.175 |
0.061 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.451 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1.724 |
0.060 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.508 |
0.019 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
1.216 |
0.041 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
8.711 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
121.59 |
4.17 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
700.000 |
|
|
|
|
|
The above information has been parted by Mr. Sanjeev Garg
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
7.66 |
8.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
10.93 |
12.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.88 |
4.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.13 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.43 |
2.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.93 |
0.48 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2012 |
As on 31.03.2011 |
|
Short term
borrowings |
|
|
|
Rahul Gupta |
1.397 |
0.855 |
|
Rose Power Private Limited |
0.243 |
0.000 |
|
|
|
|
|
Total |
1.640 |
0.855 |
Note: No Charges Exist for Company
PRESS RELEASE
RAY POWER EXPERTS
SIGNS AGREEMENT TO SET UP FIVE NEW SOLAR POWER PROJECTS
Global solar power plant development company, Rays Power Experts has signed agreement for setting up 5 new projects totalling 15 MW of solar power capacity before March 2014 with an estimated investment of $27 million.
The projects are mainly in the in the Delhi and National Capital Region (NCR).
Targeting to complete 150 MW of solar power capacity by the end of this financial year, Rays Power Experts has set its eye to become a leading player of the solar power industry.
In a statement issued here, Rahul Gupta, Director, Rays Power Experts said the company was in the middle of acquiring many more such projects across different verticals of the industry. “Rays Experts is targeting for 250 MW of installed solar power plants producing electricity for more than 5 million households per year,’’ he added.
The company has successfully accomplished all its committed projects of 29 MW for 11 projects in 2.5 months by end of September 2013. Over Rs. 7500.000 millions have already been invested to get to this great number of 100 MW achieved so far.
RAYS POWER EXPERTS
RECOGNISED AT ASIAN POWER AWARDS- 2013
Rays Power Experts, technological leader for solar power in India has been recently felicitated with the prestigious Independent Power Producer of the year award.
New Delhi: Rays Power Experts Pvt. Ltd., technological leader for solar power in India has been recently felicitated with the prestigious Independent Power Producer of the year award at the Asian Power Awards held in Bangkok, Thailand during October 2013. The award was won for the company’s noteworthy contribution across all categories such as coal, hydro, wind etc.
The jury behind the decision comprised John Goss, Managing Director at Ceejay International; Narayan Bhat, Head, Power Asia at Lloyd’s Register Group; and John Yeap, Partner and Head of Energy – Asia at Pinsent Masons.
Addressing the winners at the awards night, Yeap said, "We are always impressed by your nominations every year and the projects have been improving significantly. Congratulations to all the winners."
Entering its 9th year, the annually held Asian Power award ceremony honours outstanding power companies in Asia. It identifies the best initiatives and power projects undertaken in Asia. The glorious event was graced by nearly 100 key executives from exceptional companies in the industry who work for creating excellence and brilliance in their respective categories.
Elated with the honour and accomplishment, Rahul Gupta, Director, Rays Power Experts said, “We are thrilled at receiving such acknowledgment within 3 years of our existence. Awards like these justify and exemplify what a group of hard working people are capable of doing even in such a short span of time.”
The success chart of Rays Experts can be gauged with the recent completion of 11 projects totalling 29 MW in the last 10 days. This makes the total project size 55 MW with 27 different projects in just 15 months, with the total area of construction being over 400 Acres. This is the highest number of projects undertaken by any solar power project based company in India.
RAYS POWER EXPERTS
PLANS 150 MW OF SOLAR POWER CAPACITY IN THIS FISCAL
Rays Power Experts Private Limited, the technological leader for solar power in India targets to achieve 150 megawatts of solar power production by the end of this financial year. This would be a step ahead in the already achieved and completed target of 60 MW of solar projects in 2013.
Rays Power Experts is a venture of Rahul Gupta an alumni of the prestigious IIT Roorkee who has dabbled into entrepreneurship with a green vision. Gupta is the director of the company and is in the process of scaling up his business with a devoted sense of responsibility towards environment and community.
The company has successfully accomplished all its committed projects of 29 MW for 11 projects in 2.5 months at the end of September 2013. Over Rs 750 crores has already been invested to get to this great number of 100 MW achieved so far.
Talking about the company’s progress, Rahul Gupta, said, “It is a proud moment for us as this magical figure is achieved after months of immense hard work and rigorous efforts put in by our team. We started with a meager 2 people team in 2010 and cultivating the solar culture, we have grown to 150 strong in 3 years. Today, people across the length & breadth of the country – not just in the cities, but in small town & villages too – know that it is possible to run a fan or charge a mobile phone using Solar Power. That is a strong evidence of the culture we are adopting.”
Gupta added that there is a huge potential of solar power in India as it lies in sunny regions of the world receiving 4-7 kWh of solar radiation per square metre per day with 300-325 sunny days in a year. “India has abundant solar resources, as it receives about 3000 hours of sunshine every year, equivalent to over 5,000 trillion kWh. We felt the need to explore this huge opportunity and hence have set ourselves an achievable target of 150 MW for this financial year”, he noted.
The success chart of Rays Experts can be gauged with the recent completion of 11 projects totalling 29 MW in the last 10 days. This makes the total project size 55 MW with 27 different projects in just 15 months, with the total area of construction being over 400 Acres. This is the highest number of projects undertaken by any solar power project based company in India.
RAYS POWER EXPERTS
FILES PETITION AGAINST VARIOUS REGULATORY COMMISSIONS TO SECURE THE RENEWABLE
ENERGY MARKET
Monday, January 06, 2014: Rays Power Experts Pvt. Ltd., a global solar power plant development EPC and consulting firm in India, has recently filed a petition with Appellate Tribunal for Electricity (APTEL) against various central and state regulatory commissions for the cause of renewable energy certificates’ (REC) on behalf of its investors. Allegedly, these regulatory commissions are not purchasing RECs, thus violating a compulsory mandate. Rays Experts is committed to uplift the looming REC market which poses a great threat to India’s overall renewable energy sector.
Renewable energy sector especially solar power generation industry has great potential in a country like India, where power shortage is rampant and costs are high. Corporate and individuals are also liable to obtain tax benefits by setting up their own power plants of green energy. This in turn helps to curtail the additional electricity overhead costs and also contributes to less frequent power-cuts, considering the severe shortage of grid electricity and spiraling costs. All 27 states have come forward in support of this petition to help counteract weak enforcement of renewable purchase obligations (RPO).
Mr Rahul Gupta, Director, Rays Power Experts, expressed the concern, “We at
Rays Expert’s are committed to our partners and we make sure that investors in
the park get proper returns on their RECs. It is the duty of all regulatory
commissions to meet and enforce their renewable purchase obligations in order
to provide the much needed boost to the green energy sector, which is not only
environment friendly but also cost-efficient in the long run.”
“We cannot afford to neglect this non-compliance as it may cost enormously to
the industry and will further impact the renewable energy generators, leading
to a break-down of the renewable energy certificate market”, he further
added.
The aforementioned petition filed by Rays Experts strongly supports an earlier
petition in this regard, filed by the Indian Wind Association.
RAYS EXPERTS TO
EXECUTE 25 MW SOLAR POWER PROJECTS IN 2 MONTHS
Rays Experts will execute 25-MW capacity solar power projects in the next two months. These projects for 34 investors are 1 MW, 2 MW, etc, capacity projects totalling 60 MW. The company is constructing these plants in Tamil Nadu, Karnataka and Andhra Pradesh. Rahul Gupta, Director at Rays Experts, said, "We have already constructed 60 MW of solar power plants for 34 industrial investors and 25 MW projects are due for commissioning in the next two months for seven individual investors." Gupta said that work on another 150 MW projects has also started and the company is expecting to do business worth Rs 5000.000 millions during the current financial year.
"From March 2011 till now we have done business worth Rs 4000.000 millions and we have also received repeat orders from a lot of our clients," he further added. Rays Experts provides solutions and services for solar energy investments ranging from land and site identification, supply of solar panels and accessories, development of site infrastructure, installation and commissioning, power evacuation to operation and maintenance over the entire life of the project. It also includes obtaining necessary approvals and expediting finance from banks, integrating value chain, from market mapping to design, manufacturing and supply chain, sales, commissioning to operations and maintenance and monitoring.
FIXED ASSETS
· Air Conditioner
· Cellular Phone
· Coffee Machine
· Water Purifier
· Furniture and Fixture
· Office Furnishing
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. 62.38 |
|
|
1 |
Rs. 102.25 |
|
Euro |
1 |
Rs. 84.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.