MIRA
INFORM REPORT
|
Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
WIND WORLD (INDIA) LIMITED (w.e.f. 01.01.2013) |
|
|
|
|
Formerly Known As
: |
ENERCON (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 33, |
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|
Country : |
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|
|
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Financials (as
on) : |
31.03.2007 (Unaudited) |
|
|
|
|
Date of
Incorporation : |
22.05.2003 |
|
|
|
|
Com. Reg. No.: |
56-003236 (New) 071899 (Old) |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 72.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200DD2003PLC003236 (New) U74999MH1993PTC071899 (Old) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRE00726F SRTE00116E |
|
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Wind Mills. |
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|
|
|
No. of Employees
: |
5348 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. Management has failed to file the financials with the government
department since FY 07. Mr. Jitin Bhatt, the finance manager parted that “Wind World India
Limited” had entered into a licensing agreement with “Enercon India Limited”
but later they indulged into a legal dispute, which led to separation during
2007. No other details could be made available payment terms are unknown. The company can be considered for business dealings with great
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 = “BB+”
(Suspended) |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
19.07.2013 |
Reason: No furnished the information required by CARE.
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 (PARTIAL DETAILS)
|
Name : |
Mr. Jitin Bhatt |
|
Designation : |
Finance Manager |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. 33, Daman Patalia Road, Bhimpore, Daman – 396 210, Daman and
Diu, India |
|
Tel. No.: |
91-260-2220624 / 2221219 / 2221220 / 2220321 / 2220628 |
|
Fax No.: |
91-260-2221508 / 67020083 |
|
E-Mail : |
admin@mumbai.enercon-india.com vijay.poddar@enercon.net legal.compliance@enerconindia.net
|
|
Website: |
www.enerconindia.net |
|
Location
: |
Leased |
|
|
|
|
Corporate Office : |
Tower Plot No. A - 9, CTS No. 700, Veera Industrial Estate, Veera
Desai Road |
|
Tel No.: |
91-22-66924848 |
|
Fax No.: |
91-22-66990940 |
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Email : |
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|
|
|
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Factory 2 : |
Concrete Tower
Factory : Plot No 610 / 611, Village Sadodar, Taluka : Jamjodapur, District
Jamnagar – 360520, Gujarat, India |
|
Tel. No.: |
91-2898-262372 / 262545 / 262547 |
|
Fax No.: |
91-2898-262374 |
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|
|
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Branch Office /Marketing Office: |
Located at: · Pune · Chennai · Bangalore · Hyderabad · Coimbatore · Ahmedabad · Jaipur · New Delhi · Vadodara |
DIRECTORS
As on 30.09.2007
|
Name : |
Mr. Yogesh
Jogindernath Mehra |
|
Designation : |
Managing Director |
|
Address: |
201, Hare Krishna, Presidency Society, |
|
Date of
Birth/Age : |
01.12.1959 |
|
Qualification |
B.Com |
|
Date of
Appointment: |
10.05.1993 |
|
|
|
|
Name : |
Mr. Ajay
Jogindernath Mehra |
|
Designation : |
Whole Time Director |
|
Address: |
301, Hare Krishna, Presidency Society, |
|
Date of
Birth/Age : |
06.12.1955 |
|
Qualification |
B.Sc |
|
Date of
Appointment: |
10.05.1993 |
|
|
|
|
Name : |
Mr. Kettwing Hans
Dieter |
|
Designation : |
Director |
|
Address: |
Dreekamp-5,
26605, Indian Address |
|
Date of
Birth/Age : |
23.11.1957 |
|
Date of
Appointment: |
11.03.2002 |
|
|
|
|
Name : |
Mr. Aloys Wobben |
|
Designation : |
Chairman |
|
Address: |
Dreekamp-5,
26605, Indian Address |
|
Date of Birth/Age
: |
22.01.1952 |
|
Date of
Appointment: |
24.02.1944 |
KEY EXECUTIVES
|
Name |
Mr. Manoranjan
Karmakar |
|
Designation |
Company Secretary |
|
Address: |
Flat No.1404, Raj
Manor, B Wing, |
|
Date of Birth |
29.04.1956 |
|
Date of
Appointment: |
12.09.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2007
|
Names of Shareholders |
|
No. of Shares |
|
Enercon |
|
4032000 |
|
Mehra J Sudarshan |
|
896000 |
|
Mehra J Ajay |
|
680000 |
|
Mehra Ajay Meenakshi |
|
432000 |
|
Mehra J Yogesh |
|
832000 |
|
Mehra Yogesh Radhika |
|
304000 |
|
Mehra Ajay Sitakshi |
|
16000 |
|
Mehra Ajay Siddharth |
|
8000 |
|
Total |
|
7200000 |
%20LIMITED%20-%20266905%2014-May-2014_files/image002.gif)
As on 30.09.2007
Equity Share Break up (Percentage of Total Equity)
|
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 |
56.00 |
|
Directors or relatives of Directors |
44.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Wind Mills. |
|
|
|
|
Products : |
·
Wind
Mills Accessories and Parts ·
Rotor
Blade |
GENERAL INFORMATION
|
No. of Employees : |
5348 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
· Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad – 380006, Gujarat, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India · IDFC Limited, KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamilnadu, India ·
The Royal Bank of Scotland N.V. Hansalaya
Building, 15, Barakhamba Road, New Delhi - 110001, India |
||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
Note 1. Secured Loans from banks and financial
institutions are secured against hypothecation of current assets, equitable
mortgage of land and building at Daman, hypothecation of Movable Fixed Assets
of Unit I, Unit II, Concrete Tower Facility, Pledged of Investments in
Enercon Wind Farms (India) Limited and personal guarantee form the Indian
Directors. 2. Loan from Infrastructure Development
Finance Company Limited is secured by:
i.
A First charge by way of hypothecation/ mortgage
over all the moveable and immovable assets (including tangible and intangible
present and future) of the erstwhile GIWFL (Amalgamated company), pertaining
to Wind Farms.
ii.
A First Chare by way of assignment of the
right and interest of the erstwhile GIWFL (Amalgamated Company), as the case
may be, to and under all project documents.
iii.
A First charge by way of assignment of the
right, title and interest of the erstwhile GIWFL (Amalgamated Company) to and
under all the government permits, licenses, authorization, insurance
contracts relating to project assets.
iv.
An Exclusive chare on all the receivables of
the erstwhile GIWFL (Amalgamated Company).
3. The vehicle loans, Plant and Machinery
Loans and Office Equipments Loans under lease obligations are secured against
hypothecation of the respective assets. |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
12, Dr. Annie Besant
Road, Opposite Shivsagar Estate, Worli, Mumbai – 400 018, Maharashtra, India |
|
PAN.: |
AACFD4815A |
|
|
|
|
Holding Company : |
Enercon |
CAPITAL STRUCTURE
As on 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity shares |
Rs.10/- each |
Rs.90.000 Millions |
|
1500000 |
9% Non Convertible Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.240.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7200000 |
Equity Shares |
Rs.10/- each |
Rs.72.000 Millions |
|
|
|
|
|
(Out of the above, 403200 Equity Shares of Rs.10/-
each full paid up are held by Enercon GmbH – Holding Company)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
72.000 |
117.000 |
162.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4519.135 |
3750.109 |
2586.611 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4591.135 |
3867.109 |
2748.611 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5453.288 |
3283.564 |
2015.284 |
|
|
2] Unsecured Loans |
2851.413 |
569.024 |
1315.492 |
|
|
TOTAL BORROWING |
8304.701 |
3852.588 |
3330.776 |
|
|
DEFERRED TAX LIABILITIES |
500.014 |
385.014 |
208.280 |
|
|
|
|
|
|
|
|
TOTAL |
13395.850 |
8104.711 |
6287.667 |
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5105.044 |
2887.111 |
1200.538 |
|
|
Capital work-in-progress |
845.537 |
698.843 |
89.163 |
|
|
|
|
|
|
|
|
Pending Allocation |
0.000 |
0.000 |
1.105 |
|
|
|
|
|
|
|
|
INVESTMENT |
2340.748 |
1178.294 |
1071.608 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5469.493
|
3438.058
|
3951.785 |
|
|
Sundry Debtors |
4116.311
|
3967.497
|
4085.839 |
|
|
Cash & Bank Balances |
2391.528
|
2097.460
|
261.249 |
|
|
Other Current Assets |
42.362
|
26.835
|
7.301 |
|
|
Loans & Advances |
4007.577
|
2183.166
|
1350.682 |
|
Total
Current Assets |
16027.271
|
11713.016
|
9656.856 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2414.126 |
1300.108 |
5373.948 |
|
|
Other Current Liabilities |
7897.847
|
6911.184
|
|
|
|
Provisions |
610.777
|
161.261
|
357.655 |
|
Total
Current Liabilities |
10922.750
|
8372.553
|
5731.603 |
|
|
Net Current Assets |
5104.521
|
3340.463
|
3925.253 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
13395.850 |
8104.711 |
6287.667 |
|
%20LIMITED%20-%20266905%2014-May-2014_files/image003.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
21457.490 |
16726.763 |
8831.890 |
|
|
|
Other Income |
1084.541 |
150.946 |
72.098 |
|
|
|
TOTAL (A) |
22542.031 |
16877.709 |
8903.988 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
16834.365 |
12801.055 |
0.000 |
|
|
|
Manufacturing and Other Expenses |
3611.004 |
2067.835 |
1461.222 |
|
|
|
Consumption of Raw material and Bought out components |
0.000 |
0.000 |
7933.113 |
|
|
|
Increase / Decrease in Finished Goods |
0.000 |
0.000 |
(1590.162) |
|
|
|
TOTAL (B) |
20445.369 |
14868.89 |
7804.173 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2096.662 |
2008.819 |
1099.815 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
801.827 |
439.600 |
269.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1294.835 |
1569.219 |
829.955 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
333.013 |
150.891 |
80.731 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
961.822 |
1418.328 |
749.224 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
189.239 |
233.739 |
174.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
772.583 |
1184.589 |
575.024 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2353.147 |
1149.524 |
587.397 |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT OF
PROFIT/LOSS OF AMALGAMATING COMPANIES (NET) |
0.000 |
27.116 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Preference Dividend |
3.040 |
7.088 |
11.138 |
|
|
|
Corporate Dividend Tax on Proposed
Preference Dividend |
0.517 |
0.994 |
1.759 |
|
|
BALANCE CARRIED
TO THE B/S |
3122.173 |
2353.147 |
1149.524 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
63.50 |
163.40 |
78.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
PAT / Total Income |
(%) |
3.43
|
7.02 |
6.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.48
|
8.48 |
8.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.55
|
9.71 |
6.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.37 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.81 |
0.99 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.40 |
1.68 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2005 |
31.03.2006 |
31.03.2007 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8,831.890 |
16,726.763 |
21,457.490 |
|
|
|
89.391 |
28.282 |
%20LIMITED%20-%20266905%2014-May-2014_files/image005.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2005 |
31.03.2006 |
31.03.2007 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8,831.890 |
16,726.763 |
21,457.490 |
|
Profit |
575.024 |
1,184.589 |
772.583 |
|
|
6.51% |
7.08% |
3.60% |
%20LIMITED%20-%20266905%2014-May-2014_files/image007.gif)
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 |
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 |
No |
|
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 |
change of address:
The address of the Registered Office of company has been shifted from Kolsite House, Plot No. 31, Shah Industrial
Estate, Veera Desai Road, Andheri (West), Mumbai - 400 053, Maharashtra, India to the Present
address w.e.f. 22.05.2003
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10375827 |
23/07/2012 |
160,000,000.00 |
THE ROYAL BANK OF SCOTLAND N.V. |
HANSALAYA BUILDING, 15, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B57840720 |
|
2 |
10372764 |
03/07/2012 |
1,750,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B56456361 |
|
3 |
10367034 |
19/07/2012 * |
400,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B55799522 |
|
4 |
10349565 |
31/03/2012 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
CHANDER MUKHI, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B37542917 |
|
5 |
10349570 |
28/03/2012 |
500,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, AXIS HOUSE, GROUND FLR, |
B37544194 |
|
6 |
10322723 |
22/11/2011 |
140,270,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B27706993 |
|
7 |
10307860 |
20/09/2011 |
98,362,500.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B21297353 |
|
8 |
10307923 |
28/08/2011 |
12,329,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B21324314 |
|
9 |
10301200 |
07/08/2012 * |
650,000,000.00 |
IDFC LIMITED |
KRM TOWER, 8TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI, TAMIL NADU - 600031, INDIA |
B57106940 |
|
10 |
10294126 |
02/07/2011 |
200,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B15789266 |
* Date of charge modification
UNSECURED LOANS
|
Particular |
As on 31.03.2007 (Unaudited) Rs. in millions |
As on 31.03.2006 (Unaudited) Rs. in millions |
|
From Banks |
|
|
|
Short Term Loans (Repayable within
one year Rs. Nil (previous year Rs.100.000 millions) |
0.000 |
100.000 |
|
Long Term Loan (Repayable within
one year Rs.100.000 Millions (Previous Year Rs.NIL) |
300.000 |
300.000 |
|
|
|
|
|
Long Term Indian
Currency Loans – SBI Bank (Repayable within
one year Rs.30.000 Millions Previous
year Rs. Nil) |
302.739 |
0.000 |
|
Long Term Foreign
Currency Loans – ICICI Bank (Repayable within
one year Rs. Nil Previous year Rs.
Nil) |
869.587 |
0.000 |
|
|
|
|
|
From Financial Institutions |
|
|
|
Short Term (Repayable within
one year Rs.336.800 Millions Previous year Rs. Nil) |
336.800 |
0.000 |
|
b) From Foreign Financial Institutions |
|
|
|
Short Term
Foreign Currency Loan (Repayable within
one year Rs.927.559 Millions (Previous year Rs. Nil)) |
927.559 |
0.000 |
|
Long Term Foreign
Currency Loan (Repayable within
one year Rs.38.243 Millions (Previous year Rs.51.342 Millions) |
114.728 |
169.024 |
|
Total |
2851.413 |
569.024 |
Note
i.
Unsecured
Loans from Foreign Financial Institutions are guaranteed by corporate guarantee
of Holding Company and the personal guarantee form the Indian Directors.
Unsecured Loans from Local Banks are guaranteed by the personal guarantee from
the Indian directors.
ii.
Long
Term Loan From State Bank of India and ICICI Bank are secured term loans as per
the agreements entered into with the respective banks. However, pending
creation of charge on the security and registration of the same with ROC, same
has been classified as unsecured loan.
Fixed Assets
Owned Assets
·
Free
·
Building
·
Plant and Machinery
·
Wind Energy Converter
·
Sub Station
·
Furniture, Fixture and Office Equipments
·
Vehicles
Leased Assets
·
Plant and Machinery
·
Vehicles
·
Office Equipments
PRESS RELEASE
WIND WORLD TAKES
NUMBER 1 SLOT IN INDIA
INDIA: Wind World India, the company formerly known as Enercon India, has become the number one turbine manufacturer in India, according to figures from the Indian Wind Turbine Manufacturers Association (IWTMA).
Wind World took first place from Suzlon after installing 454MW in 2012. Suzlon installed 415MW, while Powertech followed in third place on 273MW.
Further down, Vestas installed 34MW, an 87% fall on 2011. However, last year Vestas announced it was substantially reducing its sales efforts in India and was largely confining its activities to operations and maintenance.
The success of Wind World follows its rebrand at the end of last year. The company primarily supplies sub-1MW turbines using Enercon designs. But it has been involved in a legal dispute with Enercon since German manufacturer and former partner Enercon cancelled a licensing agreement between the two companies in 2007.
This dispute has included the use of the Enercon name and the German company's efforts to enforce a change. Speaking about the changes, Wind World India managing director Yogesh Mehra said that the domain name was acquired on 20 November 2012 and the change took place as of 1 January 2013.
SUZLON LOSES TOP SPOT
IN INDIA WIND MARKET INSTALLATIONS
Mumbai: Suzlon Energy Ltd ceded its position as India’s top wind-turbine supplier in the year ended 31 March for the first time in at least a decade, according to figures from an industry group.
Wind World (India) Ltd, formerly known as Enercon (India) Ltd, took the top spot after installing 454 megawatts (MW) of turbine capacity last fiscal year, according to data from the Indian Wind Turbine Manufacturers’ Association. Suzlon trailed with 415 MW of installations, while ReGen Powertech Pvt. Ltd was third with 273 MW.
The rankings offered a number of surprises as new market entrants pushed aside incumbents, said Shantanu Jaiswal, a New Delhi-based wind analyst for Bloomberg New Energy Finance.
General Electric Co.’s installations surged more than 6-fold to 122 MW, the biggest jump among the companies surveyed, according to the IWTMA data. The company’s gain in orders may indicate a shift in customer preferences as GE sells turbines alone in contrast to competitors who include land acquisition and permitting as part of supply deals.
GE won orders from developers such as Greenko Group Plc that are separating project development from turbine orders to improve returns.
Suzlon, which committed India’s biggest convertible bond default in October, reported difficulties in carrying out orders due to a lack of working capital in the past three quarters. The company completed aRs.9,500 crore debt reorganization plan last month that will allow it to execute $7 billion of orders, group chief financial officer Kirti Vagadia said in a 23 April statement.
‘Regaining leadership’
The company’s performance last year was hampered by its debt problems and by the suspension of two government incentives, Suzlon said in an e-mailed response to questions on Friday.
“We are confident of regaining market leadership in our home market—that we helped unlock and shape from the start,” the company said. Suzlon Energy shares ended flat in Mumbai on Friday.
Vestas Wind Systems A/S, which tied with GE as the world’s biggest turbine maker, posted an 87% drop in installations to 34 MW, IWTMA figures showed. The Danish manufacturer, one of the first to enter the Indian market more than 25 years ago, focused on bigger, more profitable markets elsewhere, Jaiswal said.
In total, India wind installations dropped 47% on year to 1.7 Gw of wind capacity after the expiry of government incentives, according to IWTMA figures.
Globally, a record 48.4 Gw of new wind capacity was added in
2012, according to BNEF. A tax incentive drove a record 13.6 Gw of
installations in the US, where GE commissioned 96% of its turbines and Vestas
sold 40%. The US was Vestas’ biggest market.
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.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
26 |
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.