MIRA
INFORM REPORT
|
Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOVATEUR ELECTRICAL AND DIGITAL SYSTEMS PRIVATE LIMITED [w.e.f. 21.03.2012] |
|
|
|
|
Formerly Known
As : |
INDO ASIAN ELECTRIC PRIVATE LIMITED [w.e.f.
14.04.2011] ERA ELECTRICALS PRIVATE LIMITED |
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Registered
Office : |
61/62, 6th Floor, Kalpataru
Square, Kondivita Road, Off Andheri-Kurla
Road, Andheri (East), Mumbai – 400059, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
11.08.2010 |
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|
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Com. Reg. No.: |
11-206487 |
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Capital
Investment / Paid-up Capital : |
Rs.6398.600
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH2010PTC206487 |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCE4671N |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing
and Selling of Various Switchgear Products. |
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|
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|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 5600000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The rating reflects company’s moderate financial risk profiles marked by
huge accumulated losses incurred over a year and huge external borrowing
taken by company which acts as threatening to the liquidity position of the
company. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealings with great
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
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.
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 CO-OPERATIVE
Contact No.: 91-120-3853000
LOCATIONS
|
Registered Office : |
61/62, 6th Floor, Kalpataru
Square, Kondivita Road, Off Andheri-Kurla
Road, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-30416200 |
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Fax No.: |
91-22-30416201 |
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E-Mail : |
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Website : |
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Corporate Office : |
B-24, Phase – II, Noida – 201305, Uttar
Pradesh, India |
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Tel No.: |
91-120-3853000/ 3042222 |
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Fax No.: |
91-120-3853002 |
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|
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Mumbai Branch Office : |
G-6, Nahar and Seth Industrial Estate, Chakala, Andheri (East), Mumbai
– 400099, Maharashtra, India |
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Tel No.: |
91-22-28390072/ 28301987 |
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Fax No.: |
91-22-66922831 |
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E-Mail : |
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Website : |
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Branch Offices : |
Located at: North · Chandigarh · Delhi · Jaipur · Lucknow South · Bengaluru · Cochin · Coimbatore · Chennai · Secunderabad West · Ahmedabad · Indore · Mumbai · Pune · Surat · Goa East · Kolkata · Jamshedpur |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Ved Prakash Mahendru |
|
Designation : |
Additional Director |
|
Address : |
BB – 38, Nehru Enclave, Kalkaji, New Delhi –
110019, India |
|
Date of Birth/Age : |
18.02.1933 |
|
Date of Appointment : |
21.10.2010 |
|
DIN No.: |
00005338 |
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|
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|
Name : |
Mr. Pranav Kumar Ranade |
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Designation : |
Additional Director |
|
Address : |
11 Ishwar Nagar, Mathura Road, New Delhi – 110055, India |
|
Date of Birth/Age : |
10.11.1947 |
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Date of Appointment : |
21.10.2010 |
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DIN No.: |
00005359 |
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Name : |
Nemmara Ganapathy
Krishnan |
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Designation : |
Additional director |
|
Address : |
Flat No. 2701, 27th Floor, C Wing, Oberoi
Spring, Oshiwara, Andgheri
(West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
25.07.1966 |
|
Date of Appointment : |
21.10.2010 |
|
DIN No.: |
03184144 |
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|
|
|
Name : |
Olivier Rene Le Floch |
|
Designation : |
Additional director |
|
Address : |
N-105, Panchshilla Park, New Delhi -110017,
India |
|
Date of Birth/Age : |
19.02.1971 |
|
Qualification : |
Master in Management |
|
Date of Appointment : |
10.01.2011 |
|
DIN No.: |
03391960 |
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PAN No.: |
AHBPL4735D |
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|
|
|
Name : |
Chellappan Ramaswamy |
|
Designation : |
Director |
|
Address : |
New No.10, Old No.8, Visweswarapuram, Mylapore, Chennai – 600004, Tamilnadu,
India |
|
Date of Birth/Age : |
08.05.1953 |
|
Date of Appointment : |
29.05.2012 |
|
DIN No.: |
00016958 |
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|
|
|
Name : |
Mrs. Urvashi Dipaksinh
Morarji |
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Designation : |
Director |
|
Address : |
Vasant Vihar 8, Capmichael Road, Mumbai – 400026, Maharahstra,
India |
|
Date of Birth/Age : |
08.10.1926 |
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Date of Appointment : |
01.08.2012 |
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DIN No.: |
00922217 |
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|
Name : |
Mr. Michael Paul Carter |
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Designation : |
Director |
|
Address : |
19, Rue Jules Rathgeber, 67100, Strasbourg,
France |
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Date of Birth/Age : |
16.05.1958 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
01807488 |
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|
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|
Name : |
Mr. Mukesh Omprakash
Chawla |
|
Designation : |
Director |
|
Address : |
A/3104, Oberoi Springs CHS. Limited, (Excel
Indus) No.705 Etc Off. New Link Road, Near Monginis
Cake Factory, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1959 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
02698963 |
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Name : |
Antoine Didier Marie Burel |
|
Designation : |
Director |
|
Address : |
12, Allee De La Grange, Pissy
Poville, France 76360 |
|
Date of Birth/Age : |
22.12.1962 |
|
Date of Appointment : |
28.09.2012 |
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DIN No.: |
02935400 |
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|
Name : |
Mr. David Beugin |
|
Designation : |
Director |
|
Address : |
5, Lotissement, LA Mauriniere,
Montmeyran France 26120 |
|
Date of Birth/Age : |
16.09.1974 |
|
Date of Appointment : |
28.09.2012 |
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DIN No.: |
05287508 |
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|
Name : |
Benoit Nicolas Coquart |
|
Designation : |
Director |
|
Address : |
30Rte D Aureil, Le Puy
Parlier Saint Justle Martel France 87590 |
|
Date of Birth/Age : |
30.11.1973 |
|
Date of Appointment : |
11.06.2012 |
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DIN No.: |
05300917 |
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|
Name : |
Jean Charles Thuard |
|
Designation : |
Managing Director |
|
Address : |
Flat No.601, 6th Floor, Writer Residence St. Leo Road, CTS
No.462, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1956 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
06458087 |
KEY EXECUTIVES
|
Name : |
Mr. Ranjeet Kaur |
|
Designation : |
Secretary |
|
Address : |
B – 67/ 3, Second Floor, Fateh Nagar, New Delhi – 110018, India |
|
Date of Birth/Age : |
02.01.1979 |
|
Date of Appointment : |
24.02.2011 |
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PAN No.: |
ARLPK1888L |
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|
Name : |
Mr. Darminder Singh Tiwana |
|
Designation : |
Chief Financial
Officer |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
ACMA |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Legrand France S.A., France |
|
9999 |
|
Legrand Nederland BV, Netherland |
|
85446754 |
|
B. Ticino S.P.A., Italy |
|
554399846 |
|
|
|
|
|
Total |
|
639856599 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of various switchgear products. |
|
|
|
|
Exports : |
Not Available |
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|
|
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Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
Not Available |
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|
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Customers : |
Not Available |
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|
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|
No. of Employees : |
Not Available |
|
|
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|
Bankers : |
Not Available |
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|
|
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Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg,
Shivaji Park, Dadar,
Mumbai, Maharashtra, India |
|
PAN No.: |
AAEFP5579P |
|
|
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|
Holding Company : |
· B. Ticino S.P.A., Italy |
|
|
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|
Ultimate Holding
Company : |
· Legrand SA, France |
|
|
|
|
Subsidiary : |
· Dipareena Electricals Private Limited (from 1st April, 2011 to 30th September, 2011) · Numeric Lanka Technologies (Private) Limited (from 29th May, 2012) |
|
|
|
|
Fellow
Subsidiary : |
· Legrand Nederland B.V., Netherlands · Anam Legrand Company Limited, Korea · Legrand Isere ST Marcellin, France · Baco Constructions, France · Legrand Elektrik Bufer Sanayi A S, Turkey · Legrand – South Africa, South Africa · Legrand(Beijing) Electrical Company Limited, China · Legrand (S) Pte Limited, Singapore · Legrand (Shanghai) Trading Company, China · Legrand Electric SA, Portugal · Legrand Polska Sp. z o.o, Poland · Legrand Antibes, France · Legrand Australia PTY Limited, Australia · Legrand SNC FZE, United Arab Emirates · Legrand France SA, France · Legrand ZRT, Hungary · Legrand Electric Limited, UK · B Ticino Chile Ltda, Chile · Rocom Electric Company Limited, Hong Kong · Legrand Pyrenees, France · Ortronics, Inc., USA · Legrand GmbH, Germany · Shenzhen Shidean Legrand Electronic Products Company Limited, China · Legrand SNC, France · Legrand Strasbourg, France · Pass and Seymour Legrand, USA · Cablofil (I. C. M. Group), France · B Ticino Thailand Limited, Thailand · HPM Australia, Australia · E.M.B. Electrical Industries SAE, Egypt · Legrand B Ticino GMBH, Germany · Legrand Low Voltage Electrical (Wuxi) Company Limited, China · Legrand Inovac S.A.S, France · GL Eletroeletronicos, Brazil · Legrand France Ets Sille, France · TCL Huizhou, China · JSC Kontaktor, Russia |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2499960000 |
Equity Shares |
Rs.10/- each |
Rs.24999.600 Millions |
|
40000 |
Preference Shares |
Rs.10/- each |
Rs.0.400 Million |
|
|
|
|
|
|
|
Total |
|
Rs.25000.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
639856599 |
Equity Shares |
Rs.10/- each |
Rs.6398.566
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 |
6398.600 |
400.100 |
720.100 |
|
(b) Reserves & Surplus |
(5010.600) |
(3919.800) |
(479.400) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
6221.200 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
1388.000 |
2701.500 |
240.700 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
13409.500 |
13415.300 |
5500.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
3.400 |
|
(c) Other long term liabilities |
31.600 |
25.800 |
9.300 |
|
(d) long-term provisions |
237.000 |
97.400 |
33.500 |
|
Total Non-current Liabilities (3) |
13678.100 |
13538.500 |
5546.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2321.600 |
1645.300 |
370.900 |
|
(c) Other current
liabilities |
1230.800 |
859.700 |
149.800 |
|
(d) Short-term provisions |
247.200 |
121.800 |
13.300 |
|
Total Current Liabilities (4) |
3799.600 |
2626.800 |
534.000 |
|
|
|
|
|
|
TOTAL |
18865.700 |
18866.800 |
6320.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1391.100 |
1194.700 |
558.100 |
|
(ii) Intangible Assets |
8236.900 |
3562.900 |
4593.900 |
|
(iii) Capital
work-in-progress |
62.200 |
57.200 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
93.600 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
614.100 |
592.700 |
8.400 |
|
(e) Other Non-current assets |
72.200 |
1.600 |
0.000 |
|
Total Non-Current Assets |
10470.100 |
5409.100 |
5160.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2578.000 |
1680.900 |
275.700 |
|
(c) Trade receivables |
3601.800 |
2186.100 |
398.500 |
|
(d) Cash and cash
equivalents |
1871.100 |
9275.100 |
450.100 |
|
(e) Short-term loans and
advances |
322.600 |
289.100 |
23.800 |
|
(f) Other current assets |
22.100 |
26.500 |
12.400 |
|
Total Current Assets |
8395.600 |
13457.700 |
1160.500 |
|
|
|
|
|
|
TOTAL |
18865.700 |
18866.800 |
6320.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
TOTAL REVENUE
(NET) |
15956.300 |
10497.200 |
1245.000 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
GROSS EXPENSES |
17231.700 |
10578.500 |
1901.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(1275.400) |
(81.300) |
(656.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
38.100 |
29.000 |
3.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(1313.500) |
(110.300) |
(659.400) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(769.700) |
(659.400) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2083.200) |
(769.700) |
(659.465) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
213.887 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
1426.900 |
861.100 |
95.900 |
|
|
|
Stores and Spares Parts |
0.000 |
5.300 |
0.000 |
|
|
|
Stock in Trade |
0.000 |
533.600 |
0.000 |
|
|
|
Capital Goods |
0.000 |
69.300 |
5.500 |
|
|
TOTAL IMPORTS |
1426.900 |
1469.300 |
101.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(2.05) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.82) |
(0.43) |
(10.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.92)
|
(0.03) |
(2.73) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
9.66
|
4.97 |
22.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21
|
5.12 |
2.17 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
720.100 |
400.100 |
6398.600 |
|
Reserves & Surplus |
(479.400) |
(3919.800) |
(5010.600) |
|
Net worth |
240.700 |
2701.500 |
1388.000 |
|
|
|
|
|
|
long-term borrowings |
5500.000 |
13415.300 |
13409.500 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
5500.000 |
13415.300 |
13409.500 |
|
Debt/Equity ratio |
22.850 |
4.966 |
9.661 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Revenue
(Net) |
1,245.000 |
10,497.200 |
15,956.300 |
|
|
|
743.149 |
52.005 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Revenue (Net) |
1,245.000 |
10,497.200 |
15,956.300 |
|
Profit |
(659.400) |
(110.300) |
(1,313.500) |
|
|
(52.96%) |
(1.05%) |
(8.23%) |
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
UNSECURED LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
Fully convertible debentures interoperate |
13287.300 |
5500.000 |
|
Fully convertible debentures others |
0.000 |
7787.300 |
|
Deferred payment liabilities |
122.200 |
128.000 |
|
|
|
|
|
Total |
13409.500 |
13415.300 |
NOTE:
The registered address of the company has been shifted from A/303, Prathamesh, Raghuvanshi Mills
Compound, Senapati Bapat Marg, Lower Parel, Mumbai –
400013, Maharashtra, India to the present w.e.f. 01.08.2012
BUSINESS PROSPECTS
The top management
of the Company has also identified few more industrial products for the purpose
of domestic as well as overseas market. As a result of these twin factors,
further growth is expected.
Company's turnover
for the year 2012-2013 was higher by 53% at Rs.15688.100 Millions compared to
Rs.10249.900 Millions in the previous year 2011 - 2012. Company's turnover was
higher than the previous year, and only Numeric division (UPS division) of the
Company had contributed more than 46% to the Company's turnover which was
commendable.
The Company
entered into a Joint Venture dated 15.05.2013 with Mr. Sanjay Surana and Adlec Power Private
Limited, to conduct the business of designing, developing, manufacturing,
marketing and sale of customized electrical panels (low and medium voltage,
including switchgears and control panels) and related components (such as busducts or capacitors) which was effective from
17.07.2013.
BACKGROUND
The company was
incorporated on 11th August, 2010 as Era Electricals
Private Limited. Subsequently, the name of the company was changed from Era Electricals Private Limited to Indo Asian Electric Private
Limited on 14th April, 2011 and from Indo Asian Electric Private Limited to Novateur Electrical and Digital Systems Private Limited on
21st March, 2012.
The company is
engaged in trading and manufacturing of Electrical Products and has
manufacturing plants in India and operates across the country through stockists and retail outlets.
The company offers
a wide range of products in the categories of Energy Distribution, Wiring
Devices, Uninterrupted Power Supply Systems (UPS), Home Automation, Structured
Cabling, Lighting Management Solutions, Cable Management and Industrial
Application Products.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90226103 |
07/11/1996 |
36,500,000.00 |
CANARA BANK |
WORLI BRANCH,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
2 |
90225950 |
22/07/1999 * |
67,300,000.00 |
CANARA BANK |
WORLI BRANCH,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
3 |
90225936 |
13/02/1995 * |
11,000,000.00 |
THE STATE
INDUSTRIAL AND INVEST CORPORATION OF MAHRASHTRA LTD |
NIRMAL, 1 ST FLOOR;
NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90225923 |
29/07/1993 * |
38,500,000.00 |
CANARA BANK |
WORLI, MUMBAI,
MAHARASHTRA - 400018, INDIA |
- |
|
5 |
90225914 |
29/07/1993 |
2,000,000.00 |
CANARA BANK |
WORLI, MUMBAI, MAHARASHTRA
- 400018, INDIA |
- |
|
6 |
90225910 |
18/06/1993 |
8,000,000.00 |
BANK OF INDIA |
CUMBALLA HILL
BRANCH, 9 - A; NS PATKAR MARG, MUMBAI, MAHARASHTRA - 400026, INDIA |
- |
|
7 |
90225900 |
12/09/1996 * |
7,000,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 239; VIDHAN BHAWAN MARG; NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
- |
|
8 |
90225827 |
29/07/1993 * |
2,500,000.00 |
CANARA BANK |
WORLI, MUMBAI,
MAHARASHTRA - 400018, INDIA |
- |
|
9 |
90225799 |
28/02/1991 |
1,200,000.00 |
CANARA BANK |
WORLI, MUMBAI,
MAHARASHTRA - 400018, INDIA |
- |
|
10 |
90225721 |
05/08/1994 * |
1,000,000.00 |
CANARA BANK |
WORLI, MUMBAI,
MAHARASHTRA, INDIA |
- |
|
11 |
90225688 |
17/11/1989 * |
10,000,000.00 |
ICICI BANK LTD |
163; BACKBAY RECLAMATION,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
12 |
90225673 |
20/04/1989 |
3,500,000.00 |
ALGEEMENCE BANK
NEDERLANDS NV |
14; VEER NARIMAN
ROAD, MUMBAI, MAHARASHTRA, INDIA |
- |
|
13 |
90225653 |
05/08/1994 * |
3,000,000.00 |
CANARA BANK |
WORLI, MUMBAI, MAHARASHTRA,
INDIA |
- |
|
14 |
90225587 |
05/08/1994 * |
3,250,000.00 |
CANARA BANK |
WORLI, MUMBAI,
MAHARASHTRA, INDIA |
- |
|
15 |
90225586 |
25/11/1988 * |
8,500,000.00 |
AGEEMENCE BANK
NEDERLANDS NV |
14; VEER NARIMAN
POINT, FORT, MUMBAI, MAHARASHTRA |
- |
|
16 |
90225548 |
29/10/1985 |
4,000,000.00 |
THE BANK OF NOVA
SCOTIA |
MITTAL TOWER - B
WING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
17 |
90225513 |
11/05/1984 |
3,350,000.00 |
THE STATE INDUSTIRIAL
AND INVEST. CORPORATION OF M |
NIRMAL; 1 ST
FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
18 |
90225508 |
15/02/1984 |
1,000,000.00 |
THE HONG KONG
AND SHANGHAI BANKING CORPORATION |
52/60; MG ROAD, FORT,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
19 |
90220049 |
03/08/1983 |
150,000.00 |
THE HDFC BAK
LTD. |
RAMON HOUSE; 4 -
FLOOR, 169; BACKBAY RECLAMTION, |
- |
|
20 |
90225494 |
17/05/1983 |
600,000.00 |
THE HONG KONG AND
SHANGHAI BANKING CORPORATION |
52/60; MG ROAD,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
21 |
90225487 |
11/11/1982 |
1,600,000.00 |
THE SANGLI BANK
LTD. |
FORT BRANCH,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
22 |
90225436 |
19/12/1977 |
800,000.00 |
THE SANGLI BANK
LTD. |
FORT BRANCH, P
NARIMAN ROAD, MUMBAI, MAHARASHTRA, |
- |
|
23 |
90225434 |
02/11/1977 |
406,298.00 |
THE STATE
INDUSTRIAL AND INVEST. CORPORATION MAHA |
NIRMAL; 1 - ST
FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
24 |
90225413 |
08/02/1972 |
500,000.00 |
THE SANGLI BANK
LTD. |
FORT BRANCH, P.
NARIMAN ROAD, MUMBAI, MAHARASHTRA, INDIA |
- |
|
25 |
90225395 |
15/12/1966 |
150,000.00 |
DENA BANK |
17; HORNIMAN
CIRCLE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
26 |
90225390 |
24/09/1991 * |
8,500,000.00 |
ALGEEMENCE BANK
NEDERLAND NV |
14; VEER
NARIMAN, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Leasehold Improvements
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 records 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.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--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 |
|
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.