MIRA
INFORM REPORT
|
Report Date : |
23.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
GREENESOL POWER SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No 995, Service Road, RPC Layout Vijaynagar, |
|
|
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|
Country : |
|
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.06.2003 |
|
|
|
|
Com. Reg. No.: |
01-041169 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.102.895 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40104TG2003PTC041169 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Sale of Turbine and Boiler Systems. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Prakash |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-80-23154446 |
|
Date : |
19.07.2014 |
LOCATIONS
|
Registered Office : |
No 995, Service Road, RPC Layout Vijaynagar, Bangalore - 560040, Karnataka, India |
|
Tel. No.: |
91-80-23154446 |
|
Fax No.: |
91-80-23154442 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
8-2-418, 1st Floor, Meenakshi House, Road No.7, Banjara Hills,
Telangana – 500034, Andhra Pradesh, India |
|
|
|
|
Branch Office: |
No. 305, A and B, Pancom Business
Centre, Ameer Pet, Hyderabad – 500073, Andhra Pradesh, India |
|
Tel. No.: |
91-40-55632045/55635563/55632047 |
|
Fax No.: |
91-40-55669827 |
|
|
|
|
Auditor Office |
Plot No. B-2, Door No. 59, 1st Avenue, 100 Feet Road, Ashok
Nagar, Chennai – 600083, Taminadu, India |
|
Tel. No.: |
91-44-24711179/24711180 |
|
Fax No.: |
91-44-24711181 |
DIRECTORS
As on 16.09.2013
|
Name : |
Mr. Sivaram Prasad Jetty |
|
Designation : |
Managing director |
|
Address : |
1-2-593/D/9/B, Rama Chandra Mission Road, Domalguda, Hyderabad –
500029, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.06.1960 |
|
Date of Appointment : |
16.06.2003 |
|
DIN No.: |
00221271 |
|
PAN No.: |
ACDPJ5613K |
|
|
|
|
Name : |
Mr. Shridhar Nambi |
|
Designation : |
Director |
|
Address : |
318, Sri Sainaomi, 18th Main, Nandini Layout, Bangalore –
560096, Karnataka, India |
|
Date of Birth/Age : |
11.02.1960 |
|
Date of Appointment : |
18.08.2005 |
|
DIN No.: |
00390520 |
|
PAN No.: |
ALXPS8991G |
|
|
|
|
Name : |
Mr. Shanti Jetty |
|
Designation : |
Director |
|
Address : |
1-2-593/D/9/B, Rama Chandra Mission Road, Domalguda, Hyderabad –
500029, Andhra Pradesh, India |
|
Date of Birth/Age : |
05.11.1964 |
|
Date of Appointment : |
16.06.2003 |
|
DIN No.: |
00682853 |
|
|
|
|
Name : |
Mr. Venkatswamy Nannapaneni |
|
Designation : |
Director |
|
Address : |
Plot No. 503, JVR Envclave, 2-1-218/219, Balkampet, Hyderabad - 500016
Andhra Pradesh, India |
|
Date of Birth/Age : |
06.06.1959 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
00861354 |
|
|
|
|
Name : |
Mr. Bai Ronghua |
|
Designation : |
Director |
|
Address : |
54-3-501, Zhongshan Beiyuan, Hangzhou 310022, China |
|
Date of Birth/Age : |
23.12.1951 |
|
Date of Appointment : |
23.04.2009 |
|
DIN No.: |
02662833 |
|
|
|
|
Name : |
Mr. Zhang Shutan |
|
Designation : |
Director |
|
Address : |
H No. 357, Shiqiao Road, Hangzhou 310022, China |
|
Date of Birth/Age : |
16.03.1959 |
|
Date of Appointment : |
18.05.2005 |
|
DIN No.: |
02662856 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sivaram Prasad Jetty |
|
4487000 |
|
J Shanti |
|
525000 |
|
J Ragini |
|
150000 |
|
Shalini |
|
150000 |
|
Sridhar Padmavathi |
|
450000 |
|
Shridhar Nambi |
|
719930 |
|
Hanghou Steam Turbine Company Limited, China |
|
3807605 |
|
Total |
|
10289535 |
Equity Share Break up (Percentage of Total Equity)
As on 16.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
37.00 |
|
Directors or relatives of Directors |
63.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Sale of Turbine and Boiler Systems. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
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Bankers : |
· Indian Bank, Overseas Branch, Manandi Plaza, Ground Floor, No:2,St. Marks Road, Bangalore - 560001, Karnataka, India ·
IDBI Bank Limited, 102, Shakthi Comforts
Towers, K H Road, Bangalore - 560027, Karnataka, India |
||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
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|
Financial Institute: |
3i Infotech Trusteeship Services Limited, 3rd to 6th
floor, International Infotech Park, Tower No.5, Vashi Railway Station
Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
R.B. Associates Chartered Accountants |
|
Address : |
305 A and B, 3rd Floor,Pancom Business Center, Ameerpet-500073, Andhra Pradesh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFR1152B |
|
|
|
|
Joint venture: |
· Hangzhou Steam Turbine Company Limited |
|
|
|
|
Associate: |
· Sequent Automation Private Limited, India [U85110KA1998PTC023987] · Supinco Automation Private Limited, India [U31900KA2010PTC055151] · Green Secure Energy Private Limited, India [U31506AP2011PTC072205] · Hemarus Industries Limited, India [U85110HR2006PLC048628] · Qre Greenesol Power Transformer Company Private Limited, India [U40109AP2006PTC051173] · HMG Power Systems Private Limited, India [U31900AP2008PTC059791] · Puissance De L'eau Power Systems Private Limited, India [U51100AP2005PTC048512] · Greenesol Hydrocarbons Private Limited, India [U23101AP2011PTC074338] · Ecogreen Power Systems Private Limited, India [U40108KA2009PTC049592] · Greenesol Power Services Private Limited, India [U40104AP2007PTC052441] |
|
|
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10289535 |
Equity Shares |
Rs.10/- each |
Rs. 102.895
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 |
102.895 |
20.579 |
15.877 |
|
(b) Reserves & Surplus |
285.108 |
448.167 |
221.510 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.626 |
0.626 |
83.711 |
|
Total
Shareholders’ Funds (1) + (2) |
388.629 |
469.372 |
321.098 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
55.866 |
55.307 |
58.874 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
1.045 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.118 |
3.348 |
2.529 |
|
Total
Non-current Liabilities (3) |
60.984 |
58.655 |
62.448 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1090.173 |
105.318 |
108.549 |
|
(b) Trade payables |
3124.067 |
3167.798 |
1228.597 |
|
(c) Other current liabilities |
398.748 |
1179.419 |
2041.725 |
|
(d) Short-term provisions |
57.171 |
90.212 |
44.769 |
|
Total
Current Liabilities (4) |
4670.159 |
4542.747 |
3423.640 |
|
|
|
|
|
|
TOTAL |
5119.772 |
5070.774 |
3807.186 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
201.011 |
205.405 |
203.105 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
29.386 |
9.850 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
1.321 |
0.532 |
0.000 |
|
(d) Long-term Loan and Advances |
53.206 |
90.155 |
219.170 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.437 |
|
Total
Non-Current Assets |
284.949 |
305.967 |
422.737 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
198.190 |
137.936 |
70.822 |
|
(c) Trade receivables |
2707.417 |
2139.180 |
1098.306 |
|
(d) Cash and cash equivalents |
213.336 |
499.198 |
311.049 |
|
(e) Short-term loans and
advances |
1715.557 |
1988.166 |
1896.663 |
|
(f) Other current assets |
0.323 |
0.327 |
7.609 |
|
Total
Current Assets |
4834.823 |
4764.807 |
3384.449 |
|
|
|
|
|
|
TOTAL |
5119.772 |
5070.774 |
3807.186 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Turnover |
|
|
4654.618 |
|
|
Other Income |
|
|
NA |
|
|
TOTAL
(A) |
3102.775 |
9340.273 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
Purchases of Stock-in-Trade |
2952.406 |
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
|
|
|
Employees benefits expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL
(B) |
2952.406 |
9076.739 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
150.369 |
263.534 |
132.037 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.741 |
6.497 |
4.223 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
141.628 |
257.037 |
127.814 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
20.213 |
19.611 |
16.980 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
121.415 |
237.426 |
110.834 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
202.158 |
89.152 |
43.801 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(80.743) |
148.274 |
67.033 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(7.85) |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(2.60) |
1.59 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.39 |
4.69 |
2.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.51 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.95 |
0.34 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.05 |
0.99 |
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 |
15.877 |
20.579 |
102.895 |
|
Reserves & Surplus |
221.510 |
448.167 |
285.108 |
|
Share Application money
pending allotment |
83.711 |
0.626 |
0.626 |
|
Net
worth |
321.098 |
469.372 |
388.629 |
|
|
|
|
|
|
long-term borrowings |
58.874 |
55.307 |
55.866 |
|
Short term borrowings |
108.549 |
105.318 |
1090.173 |
|
Total
borrowings |
167.423 |
160.625 |
1146.039 |
|
Debt/Equity
ratio |
0.521 |
0.342 |
2.949 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
9340.273 |
3102.775 |
|
|
|
(66.781) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
9340.273 |
3102.775 |
|
Profit |
148.274 |
(80.743) |
|
|
1.59% |
(2.60%) |
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 |
PRESENT OPERATIONS:
The company could withstood the period of financial and economic crises of the nation and could achieve a turnover of INR 301.82 crores. This was possible only with the back-up of the orders, which the company was having at the beginning of the year. Despite drop in turnover over the previous year, the company could do a better profitability in terms of profitability percentage i.e the company could touch 4.02% (PBT) as against the last year figure of 2.56%.
Subject, during the year of operation has commissioned the first unit of 2 X 150 MW for the customer M/s. Madhucon Projects Limited (1st Phase) which adds feather to its cap. Apart from the above, they have also commissioned 1 No 150 MW Steam Turbine manufactured by Hangzhou Steam Turbine Company Limited. The company had successfully installed and commissioned 4500 MW of power plant in the country till date and maintaining its leadership in the country’s power segment.
Subject, had bagged three export job in the overseas segment from the following customers which will open up avenues for its overseas business particularly Pakistan and Fiji Island’s power segment.
a) Fiji Sugar Corporation, Labasa, Fiji Island – 1 X 10 MW
b) JDW Sugar Mills Limited, (Gothki Sugars), Pakistan – 1 X 26 MW
c) JDW Sugar Mills Limited, (United Sugars), Pakistan – 1 X 26 MW
FUTURE OPERATIONS
The economics of power generation was adversely affected on account of various reasons including natural gas availability, coal linkage, abnormal increase in price of imported coal, land acquisition, environmental clearance and poor financial health of State Discoms , which in turn has drastically reduced the market potential for power plant EPC contractors and equipment manufacturers in the last fiscal year However, GREENESOL POWER foresees moderate business in the ensuing financial year due to the financial and economic slowdown which affected across the industry segments. In spite of the slowdown, the company is confident of doing moderately well with the backup of the following orders which are in the advanced stages of engineering, manufacturing, supply, erection and commissioning.
1) IndBarath Thermal Power Limited – 2 x 150 MW (2nd Unit)
2) Madhucon Projects Phase II - 2X150 MW – BTG (2nd Unit)
3) Ultratech Cements Limited – Rajashree – 25 MW
4) Ultratech Cements Limited – Rawan – 25 MW
5) Ultratech Cements Limited. – Tadipatri – 25 MW
6) Basaveshwara sugars – 25 MW
7) Utkal Allummina Limited. – 3 X 30 MW BTG
8) MSW Energy, New Delhi – 20 MW
9) Siddhivinayak Cements Private. Limited – 25 MW
10) Bannariamman Sugars Limited, Kollegal – 25 MW
11) Jay Kay Cements Limited, Rajasthan – 1 X 25 MW
12) Jay Kay Cements Limited, Rajasthan – 1 X 10 MW
13) Fiji Sugar and Corp Limited, Labasa, Fiji Islands – 1 X 10 MW
14) JDW Sugar Mills Limited, (Gothki Sugars), Pakistan – 1 X 26 MW
15) JDW Sugar Mills Limited, (United Sugars), Pakistan – 1 X 26 MW
The company continues to Pursue and evaluate its business opportunities both in India and neighboring countries. As a part of this initiative and market diversification process, the company is aggressively ventured into African and Pakistan market. The company is in the advanced stage of negotiation for the following projects.
1) Ramzan Sugar Mills Limited., Pakistan – 2 x 30 MW BTG Package
2) Agro Eco Energy Limited, - Tanzania, East Aftica
3) RSPL Limited, Gujarat – 3 X 150TPH CFBC Boiler and 2 X 20 MW
4) Al Abbas Limited, Pakistan – 1 X 70 MW
5) International Client at Kazakhstan for Fans Asia Private. Limited, 1 X 70MW
6) International client at Oman for M.N.Dastur and Company (P) Limited,Chennai – 2 X 15 MW
7) Balaji Power Limited, Raipur – 1 X 10MW
8) Cauvery Power Limited – 1 X 150 MW EPC Execution
9) Ind-Bharat Thermal Power Limited, Tuticorin – 1 X 150 MW
10) Empee Sugars and Chemicals Limited, Tamil Nadu – 1 X 220TPH CFBC boiler
11) NCS Sugars (Nellore) Limited, Nellore – 1 X 36 MW
12) Sitson India Private Limited – 1 X 50MW
13) Prakesh Industries Limited – 1 X 405 TPH Boiler Package
The company is also in the process of bidding for various projects to the tune of 1000 MW and is confident of bagging those orders. The following are the brief list of projects under bidding / negotiating stages.
1) Hodeidah Cement Plant, Yemen - 1 x 40 MW CPP, YEMEN
2) Sandeep Energy and Steel S.A Mali, West Africa – 1 X 25MW
3) VSF Projects Limited, - 1 X 350MW/2X150MW
4) Reliance Limited, Maharashtra– 2 X 25 MW CPP
5) Gulbarga Cement Limited, Karnataka – 1 X 35 MW CPP
6) Chandigarh Distillers and Bottlers Limited, Chandigarh, 1 X 10 MW
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
50.000 |
50.000 |
|
Total |
50.000 |
50.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10167094 |
05/01/2012 * |
1,000,000,000.00 |
INDIAN BANK |
OVERSEAS BRANCH,
MANANDI PLAZA,GROUND FLOOR, NO:2, ST. MARKS ROAD, BANGALORE, KARNATAKA -
560001, IN |
B31179708 |
|
2 |
10146023 |
05/01/2012 * |
600,000,000.00 |
IDBI BANK LIMITED |
102, SHAKTHI COMFORTS TOWERS, K H ROAD, BANGALORE, KARNATAKA - 560027, INDIA |
B30671010 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.24 |
|
|
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.