MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

GE POWER SERVICES (INDIA) PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELG06805B / DELG07371A

 

 

PAN No.:

[Permanent Account No.]

AAACG2129F

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

Information declined by the management

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of repair and servicing of steam turbines and generators and trading in related spares.

 

 

Products/ Services :

ITC Code No.

 

Product Descriptions

84069000

Parts for Steam Turbine

99611891

Engines and turbines and part thereof

 

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

Long-term Borrowings

 

 

Long-term maturities of finance lease obligations

1.329

0.898

Total

1.329

0.898

 

 

 

Banking Relations

 

 

 

Auditors :

 

Name :

B S R and Associates

Chartered Accountants

Address :

8th Floor, Tower B, DLF Building No.10, DLF Cyber City, Phase II, Gurgaon, Haryana, India

Income-tax PAN of auditor or auditor's firm :

AADFB6889R

 

 

Ultimate holding company:

·         General Electric Company, USA

 

 

Holding company:

·         GE Pacific (Mauritius) Limited, Mauritius

 

 

Fellow subsidiaries - Domestic:

·         General Electric Company, USA

·         GE Money Financial Services Private Limited, India

 [U65929DL1994PTC116256]

·         BHEL-GE Gas Turbine Services Limited, India

 [U51505AP1997PTC040657]

·         GE India Industrial Private Limited, India [U31500DL1992PTC194724]

·         Granite Services International India Private Limited, India

 [U74210DL2005PTC133001]

 

 

Fellow subsidiaries  Overseas

·         GE International, Inc.

·         GE Energy Parts, Inc

·         GE Keppel Energy Services Pte. Limited, Singapore

·         General Electric Canada

·         PT GE Operations Indonesia

·         GE International Operations Company Inc.

·         GE Energy Singapore Pte. Limited

·         Bentley Nevada, Inc.

·         GE (China) Company Limited.

·         GE Energy Control Solution Inc.

·         General Electric Bahrain Company W.L.L.

·         GE Power Systems, Inc.

 

 

Entity having significant Influence:

·         GE India Business Services Private Limited, India [U72900DL1999PTC102432]

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 27.09.2013

 

Names of Shareholders

 

No. of Shares

 

GE Pacific (Mauritius) Limited, Mauritius

 

6818120

Ge India Business Services (India) Private Limited, India

 

1704540

 

 

 

Total

 

 

8522660

 

 

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

98.000

98.000

98.000

(b) Reserves & Surplus

437.593

378.406

292.649

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

535.593

476.406

390.649

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1.329

0.898

1.054

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.109

77.303

0.158

(d) long-term provisions

5.836

2.491

3.067

Total Non-current Liabilities (3)

7.274

80.692

4.279

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

447.339

81.641

66.889

(c) Other current liabilities

17.018

86.408

25.972

(d) Short-term provisions

5.490

2.211

2.240

Total Current Liabilities (4)

469.847

170.260

95.101

 

 

 

 

TOTAL

1012.714

727.358

490.029

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

31.575

42.102

48.166

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

12.218

7.598

6.965

(d)  Long-term Loan and Advances

60.757

116.677

59.140

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

104.550

166.377

114.271

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

5.327

17.349

0.156

(c) Trade receivables

335.080

31.254

51.372

(d) Cash and cash equivalents

0.243

1.667

0.984

(e) Short-term loans and advances

532.416

503.782

313.814

(f) Other current assets

35.098

6.929

9.432

Total Current Assets

908.164

560.981

375.758

 

 

 

 

TOTAL

1012.714

727.358

490.029

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Turnover

1183.402

400.809

439.926

 

Other Income

NA 

NA 

NA 

 

TOTAL

NA 

NA 

NA 

 

 

 

 

 

 

EXPENSES

NA 

NA 

NA 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION  

98.464

142.461

162.832

 

 

 

 

 

 

FINANCIAL EXPENSES

0.374

1.101

0.688

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION  

98.090

141.360

162.144

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

10.327

9.857

5.333

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

87.762

131.503

156.810

 

 

 

 

 

 

TAX

28.575

45.745

47.250

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

59.186

85.758

109.559

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

289.765

204.007

94.447

 

 

 

 

 

 

Balance Carried to the B/S

348.951

289.765

204.007

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Exports of goods on FOB basis

 

 

 

 

Services

NA

2.126

0.000

 

Insurance

 NA

171.697

149.505

 

TOTAL EARNINGS

NA

173.823

149.505

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 6.04

8.75

11.18

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

LOCATIONS

 

Registered Office :

401, 402, 4th Floor, Aggarwal Millenium Tower, E -1, 2, 3, Netaji Subhash Place, Wazirpur, New Delhi – 110034, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

amitkumar.gupta@ge.com

AmitKumar.Gupta@ge.com

Shomit.goel@ge.com

 

 

Sales Office :

Building No 7A, 4th Floor, DLF Cyber City, DLF Phase III, Sector 25A, Gurgaon - 122002, Haryana, India

Tel. No.:

91-124-4808000/ 4808502

Fax No.:

91-124-4226912

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.