MIRA INFORM REPORT

 

 

Report No. :

313365

Report Date :

11.04.2015

 

IDENTIFICATION DETAILS

 

Name :

N S ENGINEERING COMPANY PRIVATE LIMITED

 

 

Registered Office :

B-28, Bhel, Ancillery Industrial Estate, Ramchandrapuram, Hyderabad – 502032, Telangana

Tel. No.:

91-40-23022246

 

 

Country :

India

 

 

Financials (as on) :

28.02.2015 (Provisional)

 

 

Date of Incorporation :

29.09.1989

 

 

Com. Reg. No.:

010511

 

 

Capital Investment / Paid-up Capital :

Rs. 33.861 Million

 

 

CIN No.:

[Company Identification No.]

U29219TG1989PTC010511

 

 

IEC No.:

0901006904

 

 

TIN No.:

36920260738

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACN9931G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Heavy Engineering Goods.

 

 

No. of Employees :

692 (82 in Office and 610 in Factory) (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

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

 

 

Comments :

Subject is an established company having satisfactory track record.

 

There seems dip in the sales turnover as well as profit of the company during 2014. However, general financial position of the company seems to be decent.

 

The rating also takes into consideration extensive experience of the promoters in Fabrication Industry.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and conditions.

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term rating = BBB

Rating Explanation

Have moderate degree of safety and carry moderate credit risk.

Date

July 15, 2014

 

 

Rating Agency Name

CRISIL

Rating

Short term rating = A3+

Rating Explanation

Have moderate degree of safety and carry higher credit risk.

Date

July 15, 2014

 

 

RBI DEFAULTERS’ LIST STATUS

 

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

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Y. V. Raghavendra Gupta

Designation :

Accounts Manager

Contact No.:

91-9849100139

Date :

10.04.2015

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

B-28, Bhel, Ancillery Industrial Estate, Ramchandrapuram, Hyderabad – 502032, Telangana, India

Tel. No.:

91-40-23020626/ 23022246

Mobile No.:

91-9849100139 [Mr. Y. V. Raghavendra Gupta]

Fax No.:

91-40-23027115

E-Mail :

nsengg@gmail.com

info@nsengineering.in

Website :

http://www.nsengineering.in

Location :

Owned

 

 

Factory 2 :

Survey No. 312 and 313, Coca Cola Road, Bachupally Village, Qutubullapur Mandal, Ranga Reddy, Hyderabad - 500090, Telangana, India

Location :

Owned

 

 

Factory 3 :

Survey No. 172/A, Plot No. 130, Bollaram Village, Jinnaram Mandal, Medak District, Telangana, India

Tel. No.:

91-40-23047115

 

 

DIRECTORS

 

AS ON 22.09.2014

 

Name :

Mr. Nagabhushanam Pallempati

Designation :

Managing director

Address :

H. No. 24-34/1, Ashok Nagar, Ramchandrapuram, Hyderabad – 502032, Telangana, India

Date of Birth/Age :

15.06.1947

Qualification :

Post-Graduation

Experience :

36 Years

Date of Appointment :

01.01.1990

PAN No.:

ACJPP5821D

DIN No.:

00470636

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U29219TG1989PTC010511

N S ENGINEERING COMPANY PRIVATE LIMITED

Managing director

01-01-1990

01-01-1990

Active

NO

2

U45200TG1994PTC017692

NOVOFORM NIRMAN COMPANY PRIVATE LIMITED

Director

28-09-2011

30-05-2011

Active

NO

 

 

Name :

Mr. Venkata Subba Rao Pallempati

Designation :

Director

Address :

H. No. 24-34, Ashok Nagar, Ramchandrapuram, Hyderabad – 502032, Telangana, India

Date of Birth/Age :

15.10.1959

Qualification :

Post-Graduation

Experience :

36 Years

Date of Appointment :

01.01.1990

PAN No.:

AEJPP5588H

DIN No.:

00470683

 

 

Name :

Mrs. Vijaya Pallempati

Designation :

Director

Address :

H. No. 24-34/1, Ashok Nagar, Ramchandrapuram, Hyderabad – 502032, Telangana, India

Date of Birth/Age :

01.07.1956

Qualification :

Graduate

Experience :

36 Years

Date of Appointment :

01.01.1990

PAN No.:

AEJPP5589G

DIN No.:

02858539

 

 

Name :

Mr. Pallempati Naveen

Designation :

Director

Address :

H. No. 24-34/1, Ashok Nagar, Ramchandrapuram, Hyderabad – 502032, Telangana, India

Date of Birth/Age :

28.05.1979

Qualification :

Post-Graduation

Experience :

14 Years

Date of Appointment :

31.10.2001

PAN No.:

AMZPP5718K

DIN No.:

02865313

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U29219TG1989PTC010511

N S ENGINEERING COMPANY PRIVATE LIMITED

Director

31-10-2001

31-10-2001

Active

NO

2

U45200TG1994PTC017692

NOVOFORM NIRMAN COMPANY PRIVATE LIMITED

Director

28-09-2011

30-05-2011

Active

NO

 

 

Name :

Mr. Ravi Kumar Pallempati

Designation :

Director

Address :

H. No. 24-34, Ashok Nagar, Ramchandrapuram, Hyderabad – 502032, Telangana, India

Date of Birth/Age :

20.07.1982

Qualification :

Graduate

Experience :

4 Years

Date of Appointment :

01.10.2011

PAN No.:

ALMPK7879A

DIN No.:

03591851

 

 

Name :

Mr. Pallempati Bharat

Designation :

Director

Address :

H. No. 24-34/1, Ashok Nagar, Ramchandrapuram, Hyderabad – 502032, Telangana, India

Date of Birth/Age :

28.05.1981

Qualification :

Post-Graduation

Experience :

2 Years

Date of Appointment :

14.02.2013

PAN No.:

ASCPP3659C

DIN No.:

06498476

 

 

KEY EXECUTIVES

 

Name :

Mr. Y. V. Raghavendra Gupta

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 22.09.2014

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON 22.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

38.01

Directors or relatives of directors

59.08

Other top fifty shareholders

2.91

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Heavy Engineering Goods.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

--

Countries :

--

 

 

Terms :

 

Selling :

L/C (180 Days)

 

 

Purchasing :

L/C (180 Days)

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Cauvery Iron and Steel (India) Private Limited

Name of the Person (Designation):

Mr. Dinesh Gupta

Contact Number:

91-9000922415

Since how long known:

4 to 5 Years

Maximum limit dealt:

Rs. 100.000 Million [Last Year] and Rs. 50.000 Million [This Year]

Experience:

Product Quality = Good

Delivery Behaviour = Good 

Overall = Good

Remark

He told they had cleared their dues and have very good position and reputation in market.

 

·         Jindal Steel and Power Limited

Address: Sales Depot, Sy. No. 315 and 434/1, IDA Vellumala Village, Ramachandra Puram, Medak – 502032, Telangana, India

Contact Person: Mr. Suresh [General Manager]

Contact No.: 91-8897507714

 

·         Rudra Mercantile Private Limited

Address: Ami Building, 6th Road, T.P.S. III, Santacruz (East), Mumbai – 400055, Maharashtra, India

Contact Person: Mr. Chinmayar Khandelwal

Contact No.: 91-9867320625

 

·         V.K. Industrial Corporation Limited 

Address: 303/304, Loha Bhavan, 93, P. D’Mello Road, Carnac Bunder, Masjid (East), Mumbai – 400009, Maharashtra, India

Contact Person: Mr. Alpesh Purohit

Contact No.: 91-9870601002

 

 

Customers :

Others

 

Reference:

L&T MHPS Boilers Private Limited

Name of the Person (Designation):

Mr. V. S. Prabhu (Deputy General Manager)

Contact Number:

91-9820980471

Since how long known:

5 Years

Maximum limit dealt:

As per requirement

Experience:

Product Quality = Good

Delivery Behaviour = Average

Overall = Good

Remark

Product quality is good, but sometime delay in delivery. Overall company is good.

 

·         Regen Power Tech Private Limited

Address: Samson Towers, 4th and 5th Floor, 403L, Pantheon Road, Egmore, Chennai – 600008, Tamilnadu, India

Contact Person: Mr. Suresh

Contact No.: 91-9500058270

 

·         Hitachi Zosen India Private Limited

Address: 8-2-685/1/1/A, 4th Floor, Road No. 12, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Contact Person: Sivarama Krishnan

Contact No.: 91-8501959994

 

·         BHEL Hyderabad

Address: BHEL, Ramachandra Puram, Medak – 502032, Telangana, India

Contact Person: Suraiah Goud

Contact No.: 91-9441512304 

 

 

No. of Employees :

692 (82 in Office and 610 in Factory) (Approximately)

 

 

Bankers :

Bank Name:

State Bank of Hyderabad

Branch:

Ramachandrapuram Branch, Ramachandrapuram,, Hyderabad - 502302, Telangana, India

Person Name (with Designation):

Mrs. Neeraja (Manager)

Contact Number:

91-40-23027034

Name of Account Holder:

N S Engineering Company Private Limited

Account Number:

52190628586

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Rs. 251.000 Million (Cash Credit = Rs. 140.000 Million)

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

 

Facilities :

 

SECURED LOANS

28.02.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Vehicle and Equipment Loans

[Secured against hypothecation of Vehicles/ Equipment]

5.286

4.488

SHORT TERM BORROWINGS

 

 

Cash Credit account with State Bank of Hyderabad, R.C. Puram branch, Hyderabad [Including Adhoc Cash Credit]

45.312

109.309

SBH Buyers Credit Facility

0.000

46.245

 

 

 

Total

 

50.598

160.042

 

 

 

Auditors :

 

Name :

Ramesh Athasniya and Company

Chartered Accountants

Address :

5-9-1121, F-45 and 46, Agarwal Chambersking Kothi, Hyderabad – 500001, Andhra Pradesh, India

Tel. No.:

91-40-23235418/ 23298399

E-Mail :

info@raco.in

racoauditors@yahoo.com

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

AAFFR6609B

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 28.02.2015 [PROVISIONAL]

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100,000

Equity Shares

Rs. 1000/- each

Rs. 100.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

33,861

Equity Shares

Rs. 1000/- each

Rs. 33.861 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

28.02.2015

[Provisional]

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

 

(1)Shareholders' Funds

 

 

 

 

(a) Share Capital

33.861

33.861

33.462

33.462

(b) Reserves & Surplus

303.499

269.841

245.480

213.233

(c) Money received against share warrants

0.000

0.000

0.000

0.000

 

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

3.500

3.500

Total Shareholders’ Funds (1) + (2)

337.360

303.702

282.442

250.195

 

 

 

 

 

(3) Non-Current Liabilities

 

 

 

 

(a) Long-term borrowings

495.439

478.530

453.425

165.240

(b) Deferred tax liabilities (Net)

4.365

4.366

4.328

4.297

(c) Other long term liabilities

0.000

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

0.000

Total Non-current Liabilities (3)

499.804

482.896

457.753

169.537

 

 

 

 

 

(4) Current Liabilities

 

 

 

 

(a) Short term borrowings

45.312

155.554

209.014

126.979

(b) Trade payables

97.885

53.623

124.443

269.179

(c) Other current liabilities

61.928

43.292

8.058

15.181

(d) Short-term provisions

8.427

(1.000)

0.176

3.454

Total Current Liabilities (4)

213.552

251.469

341.691

414.793

 

 

 

 

 

TOTAL

1050.716

1038.067

1081.886

834.525

 

 

 

 

 

II.            ASSETS

 

 

 

 

(1) Non-current assets

 

 

 

 

(a) Fixed Assets

 

 

 

 

(i) Tangible assets

266.852

279.660

259.359

278.796

(ii) Intangible Assets

0.000

0.000

0.000

0.000

(iii) Capital work-in-progress

13.129

7.568

42.267

19.802

(iv) Intangible assets under development

0.000

0.000

0.000

0.000

(b) Non-current Investments

10.000

0.000

2.750

2.750

(c) Deferred tax assets (net)

0.000

0.000

0.000

0.000

(d)  Long-term Loan and Advances

51.762

61.762

2.662

2.502

(e) Other Non-current assets

0.000

0.000

0.000

0.000

Total Non-Current Assets

341.743

348.990

307.038

303.850

 

 

 

 

 

(2) Current assets

 

 

 

 

(a) Current investments

0.000

0.000

0.000

0.000

(b) Inventories

338.594

359.204

425.640

222.933

(c) Trade receivables

291.251

215.395

175.806

218.841

(d) Cash and cash equivalents

17.497

57.193

106.100

44.978

(e) Short-term loans and advances

49.645

45.287

59.625

35.957

(f) Other current assets

11.986

11.998

7.677

7.966

Total Current Assets

708.973

689.077

774.848

530.675

 

 

 

 

 

TOTAL

1050.716

1038.067

1081.886

834.525

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

28.02.2015

[Provisional]

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

 

Revenue from Operations

703.117

480.983

733.989

769.650

 

 

Other Income

39.402

32.761

14.848

5.879

 

 

TOTAL                            (A)

742.519

513.744

748.837

775.529

 

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

 

Cost of Materials Consumed

432.976

242.158

767.687

490.622

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

18.110

31.585

(313.090)

(5.105)

 

 

Employees benefits expense

37.350

47.926

43.802

31.565

 

 

Other expenses

144.335

95.467

125.700

142.011

 

 

Extraordinary Items

(0.084)

0.000

0.000

0.000

 

 

TOTAL                            (B)

632.687

417.136

624.099

659.093

 

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

109.832

96.608

124.738

116.436

 

 

 

 

 

 

Less

FINANCIAL EXPENSES                      (D)

29.422

33.007

41.571

33.031

 

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                 (E)

80.410

63.601

83.167

83.405

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION      (F)

31.701

31.892

35.056

28.007

 

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                (G)

48.709

31.709

48.111

55.398

 

 

 

 

 

 

Less

TAX                                                    (H)

15.051

10.449

15.863

18.025

 

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                   (I)

33.658

21.260

32.248

37.373

 

 

 

 

 

 

 

Earnings Per Share (Rs.)

993.99

635.34

963.71

1150.29

 

 

KEY RATIOS

 

PARTICULARS

 

 

28.02.2015

[Provisional]

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

4.53

4.42

4.39

4.86

 

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

15.62

20.09

16.99

15.13

 

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.74

3.08

4.64

6.82

 

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.07

0.10

0.17

0.22

 

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.60

2.09

2.35

1.17

 

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.32

2.74

2.27

1.28

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

33.462

33.462

33.861

Reserves & Surplus

213.233

245.480

269.841

Share Application money pending allotment

3.500

3.500

0.000

Net worth

250.195

282.442

303.702

 

 

 

 

Long-term borrowings

165.240

453.425

478.530

Short term borrowings

126.979

209.014

155.554

Total borrowings

292.219

662.439

634.084

Debt/Equity ratio

1.168

2.345

2.088

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

769.650

733.989

480.983

 

 

-4.633

-34.470

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

769.650

733.989

480.983

Profit

37.373

32.248

21.260

 

4.86%

4.39%

4.42%

 

 

 

 

 

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

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

No

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

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

Yes

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

------------------------------------------------------------------------------------------------------------------------------

 

UNSECURED LOANS

 

(RS. IN MILLION)

 

PARTICULARS

28.02.2015

(Provisional)

31.03.2014

LONG-TERM BORROWINGS

 

 

From Directors and Relatives

65.953

49.842

424200, Fully Compulsory Convertible Debentures of Rs. 1000/- each [Convertible after 31.03.2015]

424.200

424.200

 

 

 

Total

 

490.153

474.042

 

------------------------------------------------------------------------------------------------------------------------------

 

CASH FLOW STATEMENT

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

2014-15

Estimated

2015-16

Projections

2016-17

Projections

 

 

 

 

 

1

SOURCES

 

 

 

 

a. Cash Accruals [Net Profit after Tax]

36.769

41.753

43.068

 

b. Depreciation

34.582

35.000

37.500

 

c. Pre-operative Expenses w/off

--

--

--

 

d. Increase in Capital [Including Accumulated Reserves]

--

--

--

 

e. Increase in Debentures

--

--

--

 

f. Increase in Term Loans

17.170

(20.000)

0.500

 

g. Increase in Deferred Payment Credits

--

--

--

 

h. Increase in Quasi Capital

--

--

--

 

i. Short Term Sources

23.641

37.890

42.200

 

 

 

 

 

 

TOTAL SOURCES [A]

112.162

94.643

123.268

 

 

 

 

 

2

DISPOSITION OF FUNDS

 

 

 

 

a. Increase in Capital

17.054

40.000

60.000

 

b. Increase in Non-Current Assets

(43.881)

(15.000)

--

 

c. Short Term Uses

131.043

61.750

61.120

 

d. Preoperative Expenses

--

--

--

 

 

 

 

 

 

TOTAL DISPOSITION [B]

104.216

86.750

121.120

 

 

 

 

 

 

Opening Balance

3.010

10.956

18.849

 

 

 

 

 

 

Net Surplus / Deficit [+/-] [A - B]

7.946

7.893

2.148

 

 

 

 

 

 

Closing Balance

10.956

18.849

20.996

 

 

 

 

 

 

Cash Balance

10.956

18.849

20.996

 

------------------------------------------------------------------------------------------------------------------------------

 

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

 

OPERATING STATEMENT

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

2014-15

Estimated

2015-16

Projections

2016-17

Projections

 

 

 

 

 

1

Gross Sales

 

 

 

 

1. Domestic Sales

803.117

890.000

930.000

 

2. Export Sales

--

--

--

 

 

 

 

 

 

Total

803.117

890.000

930.000

 

 

 

 

 

2

Less: Excise Duty

56.200

62.300

65.100

 

 

 

 

 

3

Net Sales [1-2]

746.917

827.700

864.900

 

 

 

 

 

4

%age rise (+) or fall (-) in net sales as compared to previous year

46.85

10.82

4.49

 

 

 

 

 

5

Cost of Sales

 

 

 

i

Raw Material consumed

 

 

 

 

Indigenous

522.842

529.728

553.536

 

 

 

 

 

ii

Stores and Spares

50.449

55.900

58.400

 

 

 

 

 

iii

Direct Labour

40.691

42.700

44.800

 

 

 

 

 

iv

Power and Fuel

12.764

14.000

15.400

 

 

 

 

 

v

Repairs and Maintenance

12.815

14.100

15.510

 

 

 

 

 

 

Insurance

0.962

1.100

1.500

 

 

 

 

 

vi

Other Operating Expenses

23.098

24.250

25.460

 

 

 

 

 

vii

Depreciation

34.582

35.000

37.500

 

 

 

 

 

 

Sub-total [i to iv]

698.202

716.778

752.106

 

 

 

 

 

viii

Add: Opening Stock in process

353.671

407.280

410.000

 

 

 

 

 

 

Sub-total

1051.873

1124.058

1162.106

 

 

 

 

 

ix

Less: Closing Stock in process

407.280

410.000

425.000

 

 

 

 

 

x

Cost of Production

644.593

714.058

737.106

 

 

 

 

 

xi

Add: Opening Stock of finished goods

--

--

--

 

 

 

 

 

 

Sub-total

644.593

714.058

737.106

 

 

 

 

 

xii

Less: Closing Stock of finished goods

--

--

--

 

 

 

 

 

 

Sub-total (Total Cost of Sales)

644.593

714.058

737.106

 

 

 

 

 

6

General & Administrative Expenses

55.345

59.200

63.300

 

 

 

 

 

7

Sub-total [5+6]

699.938

773.258

800.406

 

 

 

 

 

8

Operating Profit before interest [3-7]

46.979

54.442

64.494

 

 

 

 

 

9

Interest

31.500

34.850

44.850

 

 

 

 

 

10

Operating profit after Interest [8-9]

15.479

19.592

19.644

 

 

 

 

 

11

(i) Add: Other non-operating income

 

 

 

 

Other Income

39.400

43.661

45.624

 

Sub-total [Income]

39.400

43.661

45.624

 

 

 

 

 

 

(ii) Deduct: Other non-operating expense

 

 

 

 

Other Expenses

--

--

--

 

Sub-total [Expenses]

--

--

--

 

 

 

 

 

 

(iii) Net of other non-operating incomes/ expenses (net of 11(i) & 11(ii))

39.400

43.661

45.624

 

 

 

 

 

12

Profit before Taxes/ Loss [10+11 (iii)]

54.879

63.253

65.268

 

 

 

 

 

13

Provision for Taxes

18.110

21.500

22.200

 

 

 

 

 

14

Net Profit / (Loss) [12-13]

36.769

41.753

43.068

 

 

 

 

 

15

Drawings

--

--

--

 

Dividend Rate

--

--

--

 

 

 

 

 

16

Retained Profit [14-15]

36.769

41.753

43.068

 

 

 

 

 

17

Retained Profit / Net Profit (%age)

100.00

100.00

100.00

 

------------------------------------------------------------------------------------------------------------------------------

 

ANALYSIS OF BALANCE SHEET

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

2014-15

Estimated

2015-16

Projections

2016-17

Projections

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

1

Short term borrowings from bank (incl. Bills purchased, discounted & excess borrowings placed on repayment basis)

 

 

 

 

(i) From Applicant Bank – Cash Credit

140.000

170.000

200.000

 

(ii) From Applicant Bank – Bill Discounting

--

--

--

 

(iii) of which BP & BD

--

--

--

 

Sub Total (A)

140.000

170.000

200.000

 

 

 

 

 

2

Short term borrowings from others

--

--

--

 

 

 

 

 

3

Sundry Creditors - Trade

98.000

100.000

110.000

 

 

 

 

 

4

Advance payments from customers/deposits from dealers

--

--

--

 

 

 

 

 

5

Provision for Taxation

18.110

21.500

22.200

 

 

 

 

 

6

Dividend Payable

--

--

--

 

 

 

 

 

7

Other Statutory Liabilities (due within one year)

--

--

--

 

 

 

 

 

8

Deposits/ Instalments of term loan/ DPGs/ Debentures etc. (due within one year)

1.000

1.500

2.000

 

 

 

 

 

9

Other Current Liabilities & Provisions

(due within one year)

18.000

20.000

21.000

 

 

 

 

 

 

Sub Total (B)

135.110

143.000

155.200

 

 

 

 

 

10

TOTAL CURRENT LIABILITIES

[Total of 1 to 9]

275.110

313.000

355.200

 

 

 

 

 

 

TERM LIABILITIES

 

 

 

11

Debentures (not maturing within one year)

--

--

--

 

 

 

 

 

12

Preference Shares (redeemable after one year)

--

--

--

 

 

 

 

 

13

Term loans (excluding instalments payable within one year)

5.500

4.000

2.000

 

 

 

 

 

14

Deferred Payment Credits (excl. instalments due within one year)

--

--

--

 

 

 

 

 

15

Term deposits (repayable after one year)

--

--

--

 

 

 

 

 

16

Other term liabilities [Unsecured Loans]

66.000

47.500

50.000

 

 

 

 

 

17

TOTAL TERM LIABILITIES (Total of 11 to 16)

71.500

51.500

52.000

 

 

 

 

 

18

TOTAL OUTSIDE LIABILITIES [10+17]

346.610

364.500

407.200

 

 

 

 

 

 

NETWORTH

 

 

 

19

Share Capital

33.861

33.861

33.861

 

 

 

 

 

20

Quasi Capital [Unsecured Loans]

424.200

424.200

424.200

 

 

 

 

 

21

Deferred Tax Liability [Reserve]

4.365

4.365

4.365

 

 

 

 

 

22

Other Reserves [Excluding provisions]

115.831

115.831

115.831

 

 

 

 

 

23

Surplus (+) or deficit (-) in Profit & Loss Account

190.779

232.532

275.600

 

 

 

 

 

24

NETWORTH

769.036

810.789

853.857

 

 

 

 

 

25

TOTAL LIABILITIES [18+24]

1115.646

1175.289

1261.057

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

26

Cash & Bank balances

10.956

18.849

20.996

 

 

 

 

 

27

Investments [other than long term investments]

 

 

 

 

1. Government and Other Trustee Securities

--

--

--

 

2. Fixed deposits with Banks [LC Margin Deposit]

25.000

40.000

50.000

 

 

 

 

 

28

i. Receivables [other than deferred and export including bills purchased and discounted by banks]

311.220

344.880

360.380

 

 

 

 

 

 

ii. Export Receivables [Including bills purchased and discounted by banks]

--

--

--

 

 

 

 

 

29

Instalments of deferred receivables [due within one year]

--

--

--

 

 

 

 

 

30

Inventory

 

 

 

 

i. Raw materials (including stores and other items in process of manufacture)

 

 

 

 

(a) Imported

--

--

--

 

(b) Indigenous [days consumption]

--

--

--

 

 

 

 

 

 

(ii) Stock-in-process

407.280

410.000

425.000

 

 

 

 

 

 

(iii) Finished Goods [days sales at Production Cost]

--

--

--

 

 

 

 

 

 

(iv) Other Consumable Spares

 

 

 

 

(a) Imported

--

--

--

 

(b) Indigenous

12.610

13.980

14.600

 

 

 

 

 

31

Advance to suppliers of Raw materials & stores/ spares

11.000

15.000

25.000

 

 

 

 

 

32

Advance payment of taxes

--

--

--

 

 

 

 

 

33

Other Current Assets [specify major items]

50.000

55.000

65.000

 

 

 

 

 

34

TOTAL CURRENT ASSET [Total 26 to 33]

828.066

897.709

960.976

 

 

 

 

 

 

FIXED ASSETS

 

 

 

35

Gross Block (land & building machinery vehicles work-in-progress)

448.127

488.127

548.127

 

 

 

 

 

36

Depreciation to date

178.427

213.427

250.927

 

 

 

 

 

37

NET BLOCK (35-36)

269.700

274.700

297.200

 

 

 

 

 

 

OTHER NON-CURRENT ASSETS

 

 

 

38

Investments/ book debts /advances deposits which are not current assets

 

 

 

 

i.(a) Security Deposit with Suppliers  

2.880

2.880

2.880

 

(b) Others

15.000

--

--

 

 

 

 

 

 

ii. Advances to suppliers of capital goods & contractors

--

--

--

 

 

 

 

 

 

iii. Deferred receivables (maturity exceeding one year)

--

--

--

 

 

 

 

 

 

iv. Others

--

--

--

 

 

 

 

 

39

Non consumables stores & spares

--

--

--

 

 

 

 

 

40

Other Non-Current Assets (including dues from director)

--

--

--

 

 

 

 

 

41

TOTAL OTHER NON-CURRENT ASSETS

(Total of 38 to 40)

17.880

2.880

2.880

 

 

 

 

 

42

Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)

--

--

--

 

 

 

 

 

43

TOTAL ASSETS (Total of 34, 37, 41 & 42)

1115.646

1175.289

1261.057

 

 

 

 

 

44

TANGIBLE NET WORTH  (24-42)

769.036

810.789

853.857

 

 

 

 

 

45

NET WORKING CAPITAL [(17+24)-(37+41+42)] Totally with (34-10)

552.956

584.709

605.776

 

 

 

 

 

46

Current Ratio [34/10]

3.01

2.87

2.71

 

 

 

 

 

47

Total Outside Liabilities / Net Worth  (18/44)

0.32

0.33

0.35

 

------------------------------------------------------------------------------------------------------------------------------

 

FUNDS FLOW STATEMENT

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

2014-15

Estimated

2015-16

Projections

2016-17

Projections

 

 

 

 

 

1

SOURCES

 

 

 

 

[a] Net Profit (after tax) / Net Loss

36.769

41.753

43.068

 

[b] Depreciation

34.582

35.000

37.500

 

[c] Increase in Capital

--

--

--

 

[d] Increase in Term Liabilities (including Public deposits)

17.170

(20.000)

0.500

 

[e] Increase in Quasi Capital / DTL

--

--

--

 

[f] Increase in Trade Creditors

44.377

2.000

10.000

 

[g] Increase in Other Current Liabilities

(5.181)

5.890

2.200

 

 

 

 

 

 

TOTAL

127.717

64.643

93.268

 

 

 

 

 

2

APPLICATION

 

 

 

 

[a] Increase in Fixed Assets

17.054--

40.000

60.000

 

[b] Increase in Non-Current Assets and Intangible Assets

(43.881)--

(15.000)

--

 

[c] Dividend Payments

--

--

--

 

[d] Increase in Cash Balances

7.946

7.893

2.148

 

[e] Increase in Stocks

60.687

4.090

15.620

 

[f] Increase in Trade Debtors

95.825

33.660

15.500

 

[g] Increase in Other Current Assets

(25.469)

24.000

30.000

 

 

 

 

 

 

TOTAL

112.162

94.643

123.268

 

 

 

 

 

3

Funds Generated Surplus [+]/ Deficit [-] [1-2]

15.555

(30.000)

(30.000)

 

 

 

 

 

4

Increase/ Decrease in Bank Borrowings

(15.555)

30.000

30.000

 

 

 

 

 

 

INCREASE/ DECREASE IN NET SALES

238.296

80.783

37.200

 

 

 

 

 

 

* Break-up of Item (4) above:

 

 

 

 

Total of items stated as under:

131.043

61.750

61.120

 

 

 

 

 

1

Increase/ Decrease in Raw Materials

--

--

--

 

 

 

 

 

2

Increase/ Decrease in Stock in process

53.609

2.720

15.000

 

 

 

 

 

3

Increase/ Decrease in Finished Goods

--

--

--

 

 

 

 

 

4

Increase/ Decrease in receivables

 

 

 

 

Domestic

95.825

33.660

15.500

 

Export

--

--

--

 

 

 

 

 

5

Increase/ Decrease in stores and spares

7.078

1.370

0.620

 

 

 

 

 

6

Increase/ Decrease in other current assets

(25.469)

24.000

30.000

 

------------------------------------------------------------------------------------------------------------------------------

 

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

2014-15

Estimated

2015-16

Projections

2016-17

Projections

 

 

 

 

 

 

A. CURRENT ASSETS

 

 

 

1

Raw materials (including stores and other items in process of manufacture)

 

 

 

 

(a) Imported

--

--

--

 

Months Consumption

--

--

--

 

 

 

 

 

 

(b) Indigenous

--

--

--

 

Days Consumption

--

--

--

 

 

 

 

 

2

Other consumable spares

 

 

 

 

(a) Imported

--

--

--

 

Months Consumption

--

--

--

 

 

 

 

 

 

(b) Indigenous

12.610

13.980

14.600

 

Days Consumption

90

90

90

 

 

 

 

 

3

Stock-in-process

407.280

410.000

425.000

 

Months Consumption

210

206

203

 

 

 

 

 

4

Finished Goods

--

--

--

 

Days sales at Production cost

--

--

--

 

 

 

 

 

5

Receivables other than export and deferred receivables [including bills purchased and discounted]

311.220

344.880

360.380

 

Days domestic sales (excluding deferred payment sales)

140

140

140

 

 

 

 

 

6

Export Receivables [including bills purchased and discounted]

--

--

--

 

 

 

 

 

7

Advances to suppliers of raw material and stores and spares, consumables

11.000

15.000

25.000

 

 

 

 

 

8

Other Current Assets including cash and bank balances and deferred receivables due within one year

85.956

113.849

135.996

 

 

 

 

 

9

TOTAL CURRENT ASSETS

(To agree with item 34 in Form III)

828.066

897.709

960.976

 

 

 

 

 

 

B. CURRENT LIABILITIES

(Other than bank borrowings for working capital)

 

 

 

10

Creditors for purchase of raw materials, stores and consumable spares

98.000

100.000

110.000

 

Months consumption

62

61

65

 

 

 

 

 

11

Advances from customers

--

--

--

 

 

 

 

 

12

Statutory Liabilities

18.110

21.500

22.200

 

 

 

 

 

13

Other Current Liabilities [specify major heads]

 

 

 

 

Short term borrowings

--

--

--

 

Unsecured loans

--

--

--

 

Dividend payable

--

--

--

 

Installments of TL, DPG, Public deposits

1.000

1.500

2.000

 

Debentures etc.

18.000

20.000

21.000

 

 

 

 

 

14

TOTAL CURRENT LIABILITIES

(To agree with sub-total B-Form III)

135.110

143.000

155.200

 

------------------------------------------------------------------------------------------------------------------------------

 

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

2014-15

Estimated

2015-16

Projections

2016-17

Projections

 

 

 

 

 

1

Total Current Assets (9 in Form IV)

828.066

897.709

960.976

 

 

 

 

 

2

Other Current Liabilities (Other than bank borrowings) (14 of Form IV)

135.110

143.000

155.200

 

 

 

 

 

3

Working Capital Gap (WCP) (1-2)

692.956

754.709

805.776

 

 

 

 

 

4

Minimum stipulated net working Capital - 25% of WCG or 25% of total current assets as the case may be depending upon the method of lending being applied. [Export Receivables to be exclused under both the methods]

173.239

188.677

201.444

 

 

 

 

 

5

Actual/ Projected Net Working Capital (45 in form III)

552.956

854.709

605.776

 

 

 

 

 

6

Item 3 minus item 4

519.717

566.032

604.332

 

 

 

 

 

7

Item 3 minus item 5

140.000

170.000

200.000

 

 

 

 

 

8

Maximum Permissible Bank Finance (item 6 or 7 whichever is lower)

140.000

170.000

200.000

 

 

 

 

 

9

Excess borrowings, if any representing short fall in NWC (4-5)

--

--

--

 

------------------------------------------------------------------------------------------------------------------------------

 

STATEMENT OF ASSETS AND LIABILITIES

 

MRS. VIJAYA PALLEMPATI

 

(AS ON 05.09.2013)

 

(RS. IN MILLION)

 

IMMOVABLE PROPERTY

 

PLACE WHERE LAND AND BUILDING ARE STANDING

 

MARKET VALUE

 

 

205, 2nd Floor, Revera Apartments, Punjagutta, Hyderabad

4.950

 

 

306, 206, 106, Padmavathi Villa, A.S. Raju Nagar, Kukatpally, Hyderabad

6.380

 

CASH AND BANK BALANCES

 

 

AMOUNT

Cash

0.013

 

 

Bank Balances S.B. Account 52190508268

0.048

 

 

GOVERNMENT SECURITIES

Nil

 

 

SHARES

N.S. Engg. Private Limited

No. of Shares 1151 x Rs.1000/-

= Rs. 1.151 Million

 

 

LIFE INSURANCE POLICIES

3 Policies

 

 

JEWELLERY

Valued Rs. 0.225 Million

 

 

INVESTMENT IN BUSINESS

The Hyderabad Heavy Engg. Works [Rs. 0.125 Million]

JVS Engg. Works [Rs. 0.050 Million]

 

 

INCOME PER MONTH

Rs. 0.040 Million

 

 

LIABILITIES

 

Nil

 

------------------------------------------------------------------------------------------------------------------------------

 

STATEMENT OF ASSETS AND LIABILITIES

 

MR. VENKATA SUBBA RAO PALLEMPATI

 

(AS ON 05.09.2013)

 

(RS. IN MILLION)

 

IMMOVABLE PROPERTY

 

PLACE WHERE LAND AND BUILDING ARE STANDING

 

ENTENT OF LAND IN ACRES

MARKET VALUE

 

 

 

Village Guttala Begumpet, Mandal Seri Lingampally, Sy. No. 33, 34 (P), 35 (P), 36, 37, 38 and 39, Plot No. 277, Sub-District Ranga Reddy

North: Plot 276

South: Plot 278

East: Road

West: Plot 308

500 Sq. yards

20.000

 

 

 

Kukatpally, Mandal Balanagar, Sub-District Kukatpally, Sy. No. 443 and 447, Plot No. 31

North: Plot No. 29

South: Plot No. 30

East: Road

West: Plot No. 13

323.50

20.000

 

CASH AND BANK BALANCES

 

 

AMOUNT

Cash

0.014

 

 

Bank Balances S.B. Account 52190508257

0.016

 

 

GOVERNMENT SECURITIES

Nil

 

 

SHARES

N.S. Engg. Private Limited

No. of Shares 1317 x Rs.1000/-

= Rs. 1.317 Million

 

 

LIFE INSURANCE POLICIES

5 Policies

Bajaj Allianz Life Insurance Company [1 Policy]

 

 

JEWELLERY

Valued Rs. 0.138 Million

 

 

INVESTMENT IN BUSINESS

The Hyderabad Heavy Engg. Works [Rs. 0.300 Million]

N.S. Engineering Company Private Limited [Rs. 6.025 Million]

 

 

INCOME PER MONTH

Rs. 0.225 Million

 

 

LIABILITIES

 

Nil

 

------------------------------------------------------------------------------------------------------------------------------

 

STATEMENT OF ASSETS AND LIABILITIES

 

MR. PALLEMPATI NAVEEN

 

(AS ON 13.03.2014)

 

(RS. IN MILLION)

 

IMMOVABLE PROPERTY

 

PLACE WHERE LAND AND BUILDING ARE STANDING

 

ENTENT OF LAND IN ACRES

MARKET VALUE

 

 

 

Flat No. 1602, Fortune Towers, C Block, Madhapur

1560 Sq. ft.

3.400

 

CASH AND BANK BALANCES

 

 

AMOUNT

Cash

0.021

 

 

Bank Balances S.B. Account 52190504604

0.083

 

 

GOVERNMENT SECURITIES

Nil

 

 

SHARES

N.S. Engg. Private Limited

No. of Shares 1168 x Rs.1000/-

= Rs. 1.168 Million

 

 

LIFE INSURANCE POLICIES

2 Policies

 

 

JEWELLERY

Valued Rs. 0.151 Million

 

 

INVESTMENT IN BUSINESS

N.S. Engineering Company Private Limited [USL Rs. 0.191 Million]

 

 

INCOME PER ANNUM

Rs. 2.500 Million

 

 

LIABILITIES

 

Nil

 

------------------------------------------------------------------------------------------------------------------------------

 

STATEMENT OF ASSETS AND LIABILITIES

 

MR. RAVI KUMAR PALLEMPATI

 

(AS ON 05.09.2013)

 

(RS. IN MILLION)

 

IMMOVABLE PROPERTY

 

PLACE WHERE LAND AND BUILDING ARE STANDING

 

ENTENT OF LAND IN ACRES

MARKET VALUE

WHETHER AGRICULTURAL OR NON-AGRICULTURAL AND WHETHER COMES IN CEILING AREA

 

 

 

 

Place Pragaginagar, Village Bachupalli, Mandal Qutubullapur, Doc. No. 108/1993, Sy. No. 155 Part of 162, 163, 164 and 165

North: 30’ Road

South: 60’ Road

East: 100’Road

West: 30’Road

1200 Sq. Yards

24.000

Non-Agricultural

 

CASH AND BANK BALANCES

 

 

AMOUNT

Cash

0.012

 

 

Bank Balances S.B. Account 62112251107

0.045

 

 

GOVERNMENT SECURITIES

Nil

 

 

SHARES

N.S. Engg. Private Limited

No. of Shares 1263 x Rs.1000/-

= Rs. 1.263 Million

 

 

LIFE INSURANCE POLICIES

2 Policies

Total Premium paid = Rs. 1.130 Million

 

 

JEWELLERY

Valued Rs. 0.109 Million

 

 

INVESTMENT IN BUSINESS

The Hyderabad Heavy Engg. Works [Rs. 0.125 Million]

 

 

INCOME PER MONTH

Rs. 0.025 Million

 

 

LIABILITIES

 

Nil

 

------------------------------------------------------------------------------------------------------------------------------

 

STATEMENT OF ASSETS AND LIABILITIES

 

MR. NAGABHUSHANAM PALLEMPATI

 

(AS ON 05.09.2013)

 

(RS. IN MILLION)

 

IMMOVABLE PROPERTY

 

PLACE WHERE LAND AND BUILDING ARE STANDING

 

ENTENT OF LAND IN ACRES

MARKET VALUE

WHETHER AGRICULTURAL OR NON-AGRICULTURAL AND WHETHER COMES IN CEILING AREA

 

 

 

 

Village Kukatpally, Mandal Balanagar, Sy. No. 443 and 447, Plot No. 30

North: Plot No. 29

South: Plot No. 31

East: Road

West: Plot No. 13

323.50

20.000

--

 

 

 

 

Flat No. 1602, Fortune Towers, C Block, Madhapur

1560 Sq. ft.

3.400

--

 

CASH AND BANK BALANCES

 

 

AMOUNT

Cash

0.017

 

 

Bank Balances S.B. Account 52190504423

0.058

 

 

GOVERNMENT SECURITIES

Nil

 

 

SHARES

N.S. Engg. Private Limited

No. of Shares 1377 x Rs.1000/-

= Rs. 1.377 Million

 

 

LIFE INSURANCE POLICIES

3 Policies

Total Premium paid = Rs. 0.183 Million

 

 

JEWELLERY

Valued Rs. 0.154  Million

 

 

INVESTMENT IN BUSINESS

The Hyderabad Heavy Engg. Works [Rs. 0.300 Million]

N.S. Engineering Company Private Limited [Rs. 1.085 Million]

 

 

INCOME PER MONTH

Rs. 0.225 Million

 

 

LIABILITIES

 

Nil

 

------------------------------------------------------------------------------------------------------------------------------

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

80029942

31/01/2013 *

439,200,000.00

STATE BANK OF HYDERABAD

RAMACHANDRAPURAM BRANCH, RAMACHANDRAPURA, HYDERABAD, ANDHRA PRADESH - 502302, INDIA

B69122562

2

90114722

02/03/1990

2,900,000.00

ANDHRA PRADESH STATE FINANCIAL CORPORATION LIMITED

CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA

-

 

* Date of charge modification

 

 

AN OVERVIEW OF OPERATIONS

 

During the year, the Turnover of the Company stood at Rs. 481.000 Million there is a decrease of 34% compared to the previous financials due to slow down of orders from BHEL which is the major customer of the company. The Net Profit of the company before Tax stood at Rs. 37.108 Million.

 

 

CONTINGENT LIABILITIES (AS ON 31.03.2014):

 

On account of Bank guarantee given by the Bank on behalf of the Company Rs. 29.616 Million (Previous Year Rs. 4.137 Million).


FIXED ASSETS:

 

·         Air Conditioner

·         Vehicles

·         Building and Shed

·         Computer

·         Furniture and Fixture

·         Generator

·         Office Equipment

·         Plant and Machinery

·         Tools and testing Equipments

·         Software

·         Land

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 62.37

UK Pound

1

Rs. 91.60

Euro

1

Rs. 66.49

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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

 

--

 

 

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.