1. Summary Information
|
|
|
Country |
|
|
Company Name |
SRAVANTHI
INFRATECH PRIVATE LIMITED |
Principal Name 1 |
Mr. Venkateshwara Rao Dandamudi |
|
Status |
Moderate |
Principal Name 2 |
Mr. Kamlesh Duragchand Shah |
|
|
|
Registration # |
05-038922 |
|
Street Address |
3rd Floor, Rider House, 136, Sector 44, Gurgaon – 122002,
Haryana |
||
|
Established Date |
26.03.2009 |
SIC Code |
-- |
|
Telephone# |
91-124-4787000/01/02/03 |
Business Style 1 |
Engineering |
|
Fax # |
91-124-4787004 |
Business Style 2 |
Procurement and Construction (EPC) works |
|
Homepage |
Product Name 1 |
Gas and Hydro power projects |
|
|
# of employees |
Information
declined by the management |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 90,630,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate - 99.90% Directors or relatives
of Directors - 0.10% |
Banking |
Axis
Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
5 Years |
|
IPO |
No |
International Ins. |
|
|
Public |
No |
Rating |
B
(28) |
|
|
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow Subsidiary company |
India |
Verset Technologies Private Limited, |
-- |
|
Note |
|
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,201,524,000 |
Current Liabilities |
2,801,274,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
611,000,000
|
|
Fixed Assets |
95,589,000 |
Other Liabilities |
1,378,457,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4,790,731,000 |
|
Invest& other Assets |
2,854,820,000 |
Retained Earnings |
1,252,043,000 |
|
|
|
Net Worth |
1,361,202,000 |
|
Total Assets |
6,151,933,000 |
Total Liab. & Equity |
6,151,933,000 |
|
Total Assets (Previous Year) |
6,941,411,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
320,129,000 |
Net Profit |
(20,367,000) |
|
Sales(Previous yr) |
7,383,182,000 |
Net Profit(Prev.yr) |
509,484,000 |
MIRA
INFORM REPORT
|
Report Date : |
19.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SRAVANTHI INFRATECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Rider House, 136, Sector 44, Gurgaon – 122002,
Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.03.2009 |
|
|
|
|
Com. Reg. No.: |
05-038922 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 90.630 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45206HR2009PTC038922 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
RTKS12907G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS9448R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged mainly in Engineering, Procurement and Construction
(EPC) works of Gas and Hydro power projects. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There seems drastic dip in the turnover during 2013 the company has
also incurred a loss. However, trade relations are reported to be fair. Business is active. Payments
terms are reported to be 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Sandeep |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-124-4787000 |
|
Date : |
17.07.2014 |
LOCATIONS
|
Registered Office : |
3rd Floor, Rider House, 136, Sector 44, Gurgaon – 122002, |
|
Tel. No.: |
91-124-4787000/01/02/03 |
|
Fax No.: |
91-124-4787004 |
|
E-Mail : |
shruti.chawla@sravanthigroup.com
|
|
Website : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Venkateshwara Rao Dandamudi |
|
Designation : |
Director |
|
Address : |
B-1/17, D L F City Phase – 1, Gurgaon – 122001, |
|
Date of Birth/Age : |
01.06.1965 |
|
Date of Appointment : |
26.03.2009 |
|
DIN No.: |
00031325 |
|
|
|
|
Name : |
Mr. Kamlesh Duragchand Shah |
|
Designation : |
Director |
|
Address : |
52/54, C.P. Tank Road, 2nd Floor, Mumbai – 110070, Maharashtra, India |
|
Date of Birth/Age : |
20.12.1973 |
|
Date of Appointment : |
30.03.2011 |
|
DIN No.: |
02177129 |
|
PAN No.: |
AUSPS7726H |
|
|
|
|
Name : |
Mr. Amit Kumar |
|
Designation : |
Director |
|
Address : |
B-2/12 , B1 Kailash Dham Society, Sector-50, Noida, Gautambudhanagar – 201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
11.06.1976 |
|
Date of Appointment : |
15.10.2010 |
|
DIN No.: |
02241053 |
KEY EXECUTIVES
|
Name : |
Shruti Chawla |
|
Designation : |
Secretary |
|
Address : |
Flat No-105b, HUDA CGHS, GH-1, Sector-56, Gurgaon – 122011, Haryana, India |
|
Date of Birth/Age : |
10.05.1985 |
|
Date of Appointment : |
31.03.2012 |
|
PAN No.: |
AHNPC1079P |
|
|
|
|
Name : |
Mr. Sandeep |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Venkateshwara Rao Dandamudi |
|
5000 |
|
Shanti Kiran Dandamudi |
|
5000 |
|
DVR Business Ventures LLP |
|
7039000 |
|
KDS Business Ventures LLP |
|
2014000 |
|
Total |
|
9063000 |
As on 21.03.2014
|
Names of Allottees |
|
No. of Shares |
|
DVR Business Ventures LLP |
|
1007000 |
|
Total |
|
1007000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
99.90 |
|
Directors or relatives of Directors |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged mainly in Engineering, Procurement and
Construction (EPC) works of Gas and Hydro power projects. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Axis Bank Limited, Shop No. 1- 6 and 8 -10, Ground Floor,
Sun City, Ninex Time Centre, Sector-54, Golf Course Road, Gurgaon - 122002,
Haryana, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Financial Institute: |
IFCI Limited, IFCI Tower61 Nehru Place, New Delhi -
110019,Delhi, India |
|
|
|
|
Auditors : |
|
|
Name : |
Manohar Chowdhry and Associates Chartered Accountants |
|
Address : |
A-19, PWO, Housing Complexsector-43 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFM9052A |
|
|
|
|
Fellow Subsidiary
company: |
· Verset Technologies Private Limited, India [U29253HR2011PTC042632] · Sravanthi Industries Private Limited, India [U24100HR2009PTC038934] · Sravanthi Energy Private Limited, India [U40101HR2009PTC038954] · Sravanthi Consultancy Services Private Limited, India [U74140HR2010PTC039908] · Door Sanchar Hydro Power Private Limited, India [U40101HR2008PTC037818] · DJ Energy Private Limited, India [U40100DL2008PTC180887] |
|
|
|
|
Subsidiary company: |
· Sravanthi Thermal Energy Private Limited, India [U40106HR2011PTC042304] · Sravanthi Services Private Limited, India [U74140HR2011PTC044541] · Sravanthi Renewable Energy Private Limited, India [U40300HR2009PTC038923] |
|
|
|
|
Associate: |
· D V R Business Ventures LLP · DJW Electric Power Projects Private Limited, India [U40105HR2010PTC040505] |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10070000 |
Equity Shares |
Rs.10/- each |
Rs. 100.700
Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9063000 |
Equity Shares |
Rs.10/- each |
Rs. 90.630
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 |
90.630 |
90.630 |
90.630 |
|
(b) Reserves & Surplus |
1252.043 |
1272.410 |
762.926 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
18.529 |
18.529 |
18.528 |
|
Total
Shareholders’ Funds (1) + (2) |
1361.202 |
1381.569 |
872.084 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
600.000 |
1298.500 |
600.000 |
|
(b) Deferred tax liabilities
(Net) |
240.659 |
237.114 |
0.000 |
|
(c) Other long term
liabilities |
627.477 |
1397.177 |
975.861 |
|
(d) long-term provisions |
10.043 |
9.114 |
6.087 |
|
Total
Non-current Liabilities (3) |
1478.179 |
2941.905 |
1581.948 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
11.000 |
0.000 |
0.000 |
|
(b) Trade payables |
421.572 |
367.773 |
308.682 |
|
(c) Other current liabilities |
1752.225 |
815.054 |
1191.846 |
|
(d) Short-term provisions |
1127.755 |
1435.110 |
331.699 |
|
Total
Current Liabilities (4) |
3312.552 |
2617.937 |
1832.227 |
|
|
|
|
|
|
TOTAL |
6151.933 |
6941.411 |
4286.259 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
74.903 |
81.217 |
74.303 |
|
(ii) Intangible Assets |
20.686 |
2.935 |
1.259 |
|
(iii) Capital work-in-progress |
0.000 |
26.698 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2854.820 |
3585.220 |
1200.300 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
2.228 |
|
(d) Long-term Loan and Advances |
151.324 |
153.688 |
4.375 |
|
(e) Other Non-current assets |
1807.283 |
1610.465 |
1224.713 |
|
Total
Non-Current Assets |
4909.016 |
5460.223 |
2507.178 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
36.698 |
|
(b) Inventories |
0.000 |
32.133 |
72.964 |
|
(c) Trade receivables |
867.879 |
1046.291 |
176.070 |
|
(d) Cash and cash equivalents |
2.414 |
24.774 |
292.883 |
|
(e) Short-term loans and
advances |
26.283 |
31.038 |
1.742 |
|
(f) Other current assets |
346.341 |
346.952 |
1198.724 |
|
Total
Current Assets |
1242.917 |
1481.188 |
1779.081 |
|
|
|
|
|
|
TOTAL |
6151.933 |
6941.411 |
4286.259 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
320.129 |
7383.182 |
4398.467 |
|
|
Other Income |
27.224 |
34.351 |
15.476 |
|
|
TOTAL
|
347.353 |
7417.533 |
4413.943 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
302.197 |
6601.404 |
3443.689 |
|
|
Employees benefits expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL
|
302.197 |
6601.404 |
3443.689 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
45.156 |
816.129 |
970.254 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
38.565 |
59.954 |
19.189 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
6.591 |
756.175 |
951.065 |
|
|
|
|
|
|
|
Less |
TAX |
26.958 |
246.691 |
330.209 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(20.367) |
509.484 |
620.856 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2.25) |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.86) |
6.87 |
14.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.06 |
10.24 |
21.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.20 |
22.71 |
30.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.55 |
1.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.45 |
0.94 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.38 |
0.57 |
0.97 |
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 |
90.630 |
90.630 |
90.630 |
|
Reserves & Surplus |
762.926 |
1272.410 |
1252.043 |
|
Share Application money
pending allotment |
18.528 |
18.529 |
18.529 |
|
Net
worth |
872.084 |
1381.569 |
1361.202 |
|
|
|
|
|
|
long-term borrowings |
600.000 |
1298.500 |
600.000 |
|
Short term borrowings |
0.000 |
0.000 |
11.000 |
|
Total
borrowings |
600.000 |
1298.500 |
611.000 |
|
Debt/Equity
ratio |
0.688 |
0.940 |
0.449 |
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 |
4398.467 |
7383.182 |
320.129 |
|
|
|
67.858 |
(95.664) |
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 |
4398.467 |
7383.182 |
320.129 |
|
Profit |
620.856 |
509.484 |
(20.367) |
|
|
14.12% |
6.90% |
-6.36% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered office of the company has been shifted from B-1/17, DLF City, Phase -1, Gurgaon – 122001, Haryana, India to the present address w.e.f. 26.06.2009
OPERATIONS
A) Phase I and Phase II of 450 MW Combined Cycle Gas Based Power Project, Kashipur of Sravanthi Energy Private Limited. The Company is the Engineering, Procurement and Construction (EPC) service provider for Phase I and Phase II of 450 MW (2x225MW) Combined Cycle Gas based Power Project (CCPP) of Sravanthi Energy Private Limited. The plant is equipped for commissioning but due to non-availability of gas from KG D6 fields, Government of India has not allocated the gas for commissioning activities and start of commercial operations.
In light of non-allocation of Natural Gas by the Government of India, the Phase-I could not achieve the COD as per the schedule. Accordingly, the EPC contracts has been extended to phase-Iand Phase-II up to 31st December, 2013 and 31st March, 2014 by Sravanthi Energy Private Limited. C) 225 MW Combined Cycle Gas Power Plant, Rajmundry, of KPR Chemicals Limited.
M/s KPR Chemicals Private Limited had awarded the Engineering, Procurement and Construction (EPC) works of 225 MW CCPP to the Company on 9th February, 2011 with a contract value of 827 Crores.
The site was mobilized on 01.03.11 and topographical survey and soil investigation was started. Civil Construction activities were also started from 15.03.11 and about 200 piles were cast out of 550 nos including that for HRSG 1 and 2, switchyard and Generator transformers. Major roads, drains and boundary wall works were taken up, and completed at a very fast pace, ahead of the schedule. Civil foundations for GT Exhaust system, Air Cooled condenser, DM storage tank, fire water storage tank etc. were also under advance stage of construction.
All major offshore and onshore packages were awarded and advance payments were also disbursed on fulfillment of the contractual requirements.
Due to non-availability of natural gas in the country, the Financial Closure of the project is yet to be achieved. KPR has requested that all the activities under the contracts related to the execution of the project be kept under suspension. Therefore all the activities for the project have been kept in abeyance with effect from 30.07.11.
There is no progress in financial year 2012-13
CORPORATE INFORMATION
Subject incorporated under the Companies Act, 1956, in the year 2009 is engaged mainly in Engineering, Procurement and Construction (EPC) works of Gas and Hydro power projects.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
90.630 |
90.630 |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
11.000 |
0.000 |
|
Total |
101.630 |
90.630 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10389544 |
01/11/2012 |
6,735,000,000.00 |
IFCI LIMITED |
IFCI TOWER61 NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B63178446 |
|
2 |
10241261 |
04/09/2010 |
2,000,000,000.00 |
AXIS BANK LIMITED |
SCO-29, SECTOR-14, OLD DELHI-GURGAON ROAD, GURGAON, HARYANA - 122001, INDIA |
A95132668 |
FIXED ASSETS
Tangible assets
· Land
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
Intangible assets
· Brands and trade marks
· Trade marks
· Computer software
· Trade marks
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.60.33 |
|
|
1 |
Rs.103.18 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.