MIRA INFORM REPORT
|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAJ WESTPOWER LIMITED (w.e.f.19.10.2006) |
|
|
|
|
Formerly Known
As : |
RAJ WESTPOWER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai –
400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.01.1996 |
|
|
|
|
Com. Reg. No.: |
11-185098 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.17260.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31102MH1996PLC185098 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of Generation and Sale of
Power. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 66000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of JSW Energy Limited. It is an established company having
moderate track record. There appears some accumulated losses recorded by the
company. However, the company receives good operational and financial support
from its parent company. Trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. In view of strong holding the company can be considered for business
dealings with slight 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term bank Facilities = BBB` |
|
Rating Explanation |
Modest degree of safety and moderate credit risk. |
|
Date |
22.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Modest degree of safety and higher credit risk. |
|
Date |
22.10.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non Cooperative (91-2982229301)
LOCATIONS
|
Registered Office : |
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai –
400051, Maharashtra, India |
|
Tel. No.: |
91-22-42861000 |
|
Fax No.: |
91-22-42863000 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
308 - 311, Gitanjali Towers, Bomba Walo ka Baug, Ajmer
Road Jaipur – 302006, Rajasthan, India |
DIRECTORS
As on 24.07.2013
|
Name : |
Mr. Nirmal Kumar Jain |
|
Designation : |
Director |
|
Address : |
302, Suman, Playground Road, Vile Parle (East), Mumbai, 400057,
Maharashtra, India |
|
Date of Birth/Age : |
03.05.1946 |
|
Date of Appointment : |
18.07.2012 |
|
DIN No.: |
00019442 |
|
|
|
|
Name : |
Mr. Sanjay Sagar |
|
Designation : |
Director |
|
Address : |
A-20/17, DLF Qutab Enclave, Phase I, Gurgaon - 122 002, Haryana, India |
|
Date of Birth/Age : |
04.08.1957 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No.: |
00019489 |
|
|
|
|
Name : |
Mr. Kamal Kant |
|
Designation : |
Whole-Time Director |
|
Address : |
B-2201 CTS, 724-A-783-784, Thakur Complex, Poisar, Near Gokul
Hospital, Kandivali (East), Mumbai 400 101, Maharashtra, India |
|
Date of Birth/Age : |
05.07.1959 |
|
Date of Appointment : |
29.03.2011 |
|
DIN No.: |
03509325 |
|
|
|
|
Name : |
Mr. Pramod Prabhakaran Menon |
|
Designation : |
Director |
|
Address : |
L-404, Dara Enclave AWHO, Plot No.6, Nerul, Navi Mumbai - 400 706,
Maharashtra, India |
|
Date of Birth/Age : |
12.08.1971 |
|
Date of Appointment : |
12.04.2007 |
|
DIN No.: |
01443287 |
|
|
|
|
Name : |
Mr. Abraham Ias Prathipati |
|
Designation : |
Director |
|
Address : |
Flat No.507, 5th Floor, Silver Arch, 22, Feroze Shah Road, New Delhi –
110 001, India |
|
Date of Birth/Age : |
01.07.1939 |
|
Date of Appointment : |
21.07.2009 |
|
DIN No.: |
00280426 |
|
|
|
|
Name : |
Mr. Maharaj Jai Singh |
|
Designation : |
Director |
|
Address : |
No.12, Civil Lines, Jaipur - 302006, Rajasthan, India |
|
Date of Birth/Age : |
05.05.1933 |
|
Date of Appointment : |
05.01.1996 |
|
DIN No.: |
00041513 |
KEY EXECUTIVES
|
Name : |
Mr. Raj Kumar Sharma |
|
Designation : |
Secretary |
|
Address : |
607, Twlight Co-Operative Housing Limited, Raheja Vihar, Powai, Mumbai
- 400 072, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1969 |
|
Date of Appointment : |
01.11.2006 |
|
PAN No.: |
AJEPS0790E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
JSW Energy Limited, India |
|
1691528400 |
|
South West Mining Limited, India Nominee of JSW Energy Limited, India |
|
34521000 |
|
JSW Power Trading Company Limited, India Nominee of JSW Energy Limited, India |
|
100 |
|
Sajjan Jindal Nominee of JSW Energy Limited, India |
|
100 |
|
Pramod Menon Nominee of JSW Energy Limited, India |
|
100 |
|
R.K. Sharma Nominee of JSW Energy Limited, India |
|
100 |
|
Sampath Madhavan Nominee of JSW Energy Limited, India |
|
100 |
|
Jayaprakash Nair Nominee of JSW Energy Limited, India |
|
100 |
|
Total |
|
1726050000 |
As on 24.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of Generation and Sale of
Power. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||||||||||||||
|
|
|
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|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah Gupta and Company Chartered Accountants |
|
Address : |
38, Bombay Mutual Building, 2nd Floor, Dr. D.N. Road, Fort, Mumbai –
400001, Maharashtra, India |
|
Tel. No.: |
91-22-40851000 |
|
Fax No.: |
91-22-40851015 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No.: |
AAAFS7702F |
|
|
|
|
Holding Company : |
CIN
No.: L74999MH1994PLC077041 |
|
|
|
|
Joint Venture : |
|
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
As on 24.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Rs.10/- each |
Rs.30000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1726050000 |
Equity Shares |
Rs.10/- each |
Rs.17260.500
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 |
17260.500 |
17260.500 |
16264.000 |
|
(b) Reserves & Surplus |
(674.700) |
(872.800) |
(605.800) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
5223.300 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
16585.800 |
16387.700 |
20881.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
42062.700 |
34037.600 |
30081.400 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
452.300 |
123.700 |
0.000 |
|
(d) long-term
provisions |
7.500 |
7.300 |
0.000 |
|
Total Non-current
Liabilities (3) |
42522.500 |
34168.600 |
30081.400 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
6926.900 |
12423.900 |
3500.000 |
|
(b) Trade
payables |
1012.600 |
542.000 |
1066.500 |
|
(c) Other
current liabilities |
7235.300 |
8073.400 |
5980.800 |
|
(d) Short-term
provisions |
7.200 |
0.700 |
0.000 |
|
Total Current
Liabilities (4) |
15182.000 |
21040.000 |
10547.300 |
|
|
|
|
|
|
TOTAL |
74290.300 |
71596.300 |
61510.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
62533.200 |
31859.300 |
11726.600 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
2089.900 |
29584.700 |
42896.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
98.000 |
98.000 |
98.000 |
|
(c) Deferred tax assets (net) |
561.900 |
692.600 |
458.200 |
|
(d) Long-term Loan and Advances |
4735.500 |
5197.000 |
4507.000 |
|
(e) Other
Non-current assets |
1327.200 |
962.100 |
0.000 |
|
Total Non-Current
Assets |
71345.700 |
68393.700 |
59686.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
262.100 |
390.400 |
380.400 |
|
(c) Trade
receivables |
2292.500 |
2522.000 |
1127.200 |
|
(d) Cash
and cash equivalents |
310.700 |
193.700 |
209.700 |
|
(e)
Short-term loans and advances |
69.400 |
51.200 |
70.700 |
|
(f) Other
current assets |
9.900 |
45.300 |
36.200 |
|
Total
Current Assets |
2944.600 |
3202.600 |
1824.200 |
|
|
|
|
|
|
TOTAL |
74290.300 |
71596.300 |
61510.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11925.500 |
4345.500 |
3862.000 |
|
|
|
Other Income |
395.900 |
1000.400 |
29.500 |
|
|
|
TOTAL (A) |
12321.400 |
5345.900 |
3891.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Fuel |
4774.500 |
2051.300 |
2943.400 |
|
|
|
Employees benefits expense |
296.300 |
201.800 |
0.000 |
|
|
|
Other expenses |
1151.900 |
521.000 |
461.800 |
|
|
|
Exceptional item |
5.500 |
86.700 |
0.000 |
|
|
|
Pre-operative expenses written off |
0.000 |
0.000 |
16.000 |
|
|
|
TOTAL (B) |
6228.200 |
2860.800 |
3421.200 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6093.200 |
2485.100 |
470.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3920.200 |
1971.800 |
785.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2173.000 |
513.300 |
(315.000) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1843.800 |
1015.500 |
464.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
329.200 |
-502.200 |
(779.200) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
131.300 |
(234.400) |
(436.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
197.900 |
(267.800) |
(343.200) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(873.600) |
(605.800) |
(262.600) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(675.700) |
(873.600) |
(605.800) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Coal |
0.000 |
153.500 |
1945.200 |
|
|
|
Stores & Spares |
2.200 |
0.000 |
0.000 |
|
|
|
Capital Goods |
42.000 |
16.100 |
28.400 |
|
|
TOTAL IMPORTS |
44.200 |
169.600 |
1973.600 |
|
|
|
|
|
|
|
|
|
|
Earnings /(Loss)
Per Share (Rs.) |
0.11 |
(0.16) |
(0.21) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.61 |
(5.01) |
(8.82) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.76 |
(11.56) |
(20.18) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.46 |
(1.22) |
(4.32) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
(0.03) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.95 |
2.84 |
1.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.19 |
0.15 |
0.17 |
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 |
16264.000 |
17260.500 |
17260.500 |
|
Reserves & Surplus |
(605.800) |
(872.800) |
(674.700) |
|
Money received against
share warrants |
5223.300 |
0.000 |
0.000 |
|
Net worth |
20881.500 |
16387.700 |
16585.800 |
|
|
|
|
|
|
long-term borrowings |
30081.400 |
34037.600 |
42062.700 |
|
Short term borrowings |
3500.000 |
12423.900 |
6926.900 |
|
Total borrowings |
33581.400 |
46461.500 |
48989.600 |
|
Debt/Equity ratio |
1.608 |
2.835 |
2.954 |
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 |
3862.000 |
4345.500 |
11925.500 |
|
|
|
12.519 |
174.433 |
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 |
3862.000 |
4345.500 |
11925.500 |
|
Profit / (Loss) |
(343.200) |
(267.800) |
197.900 |
|
|
(8.89%) |
(6.16%) |
1.66% |
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 |
No |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
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 |
Yes |
Note:
The registered office of the company has been shifted from
Jindal Mansion, 5-A Dr. G. Deshmukh Marg, Mumbai – 400026, Maharashtra, India to present
address w.e.f. 25.07.2013
FINANCING
The project cost is being funded on a debt equity ratio of 75:25, with consortium of lenders led by ICICI Bank Limited. The revised project cost is estimated to be Rs.71650.000 Millions. As on 31st March, 2013, the Company has incurred expenditure of Rs.68440.000 Millions on the project and the Company has drawn Rs.44860.000 Millions under Rupee Term Loan Agreement. The Company has also availed short term / bridge loan facility and had drawn Rs.3810.000 Millions.
NEW / PROPOSED
PROJECT
The Company also plans to enhance its capacity by additional 270 MW (2 x 135 MW) at Barmer (Rajasthan) under Phase II and ICICI Bank Limited has appraised the project cost to be Rs.13500.000 Millions. Company has received in-principle approval from Government of Rajasthan for implementing this project on 13th May, 2011.
Your Company has incurred ARs.612.500 Millions towards the project. TCE Consulting Engineers Limited has prepared the detailed project report.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee Loan from Holding Company |
8459.400 |
4228.800 |
|
From other |
5.800 |
5.800 |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee Term Loans |
|
|
|
From Banks |
3805.000 |
4000.000 |
|
From Financial Institutions |
0.000 |
1000.000 |
|
Rupee Loan from Holding Company |
2728.500 |
7163.900 |
|
Total |
14998.700 |
16398.500 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10484354 |
05/02/2014 |
23,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
C00261008 |
|
2 |
10437479 |
26/06/2013 |
2,870,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B79885471 |
|
3 |
10414466 |
13/02/2014 * |
4,807,200,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B97564918 |
|
4 |
10402590 |
13/02/2014 * |
400,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B97565683 |
|
5 |
10393656 |
24/12/2012 |
2,955,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B64763881 |
|
6 |
10107201 |
30/11/2010 * |
37,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B04024857 |
* Date of charge modification
\
FIXED ASSETS
- Freehold Land
- Buildings
- Plant and Machinery
- Office Equipments
- 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 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.59.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
34 |
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.