MIRA INFORM REPORT
|
Report No. : |
317406 |
|
Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GULBURGA ELECTRICITY SUPPLY COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Gulbarga Main Road, Gulbarga – 585102, Karnataka |
|
Tel. No.: |
91-8472-256581 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.04.2002 |
|
|
|
|
Com. Reg. No.: |
08-030436 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2051.361 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U04010KA2002SGC030436 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the activity of distribution of Electricity. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 22000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is subsidiary company of government of Karnataka. It is an
established company having satisfactory track record. The company has processed above average operational which has resulted
profit achieved from its operational activities. Rating also takes into consideration strong financial and management
support from government of Karnataka and sound liquidity profile of the
company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of strong government support, 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 |
ICRA |
|
Rating |
Term Loan and Fund based limits (BBB-) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
October 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 DENIED BY
|
Name : |
Mr. Venkata Siva Reddy |
|
Designation : |
Director |
|
Contact No.: |
91-9449844604 |
|
Date : |
11.04.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Gulbarga Main Road, Gulbarga – 585102, Karnataka, India |
|
Tel. No.: |
91-8472-256581 |
|
Fax No.: |
91-8472-256842 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 31.12.2014
|
Name : |
Mr. Sumanth Shankar Rao |
|
Designation : |
Director |
|
Address : |
No. 234, 6th Main, Jayanagar 4th Block, Bangalore - 560011, Karnataka, India |
|
Date of Birth/Age : |
01.12.1956 |
|
Date of Appointment : |
06.09.2013 |
|
DIN No.: |
00349212 |
|
|
|
|
Name : |
Mr. Kumar Naik Govindaswamy |
|
Designation : |
Director |
|
Address : |
No.317, 15th Cross, Dollar's Colony, RMV II Stage, Bangalore - 560094, Karnataka, India |
|
Date of Birth/Age : |
12.09.1963 |
|
Date of Appointment : |
13.08.2013 |
|
DIN No.: |
01918435 |
|
|
|
|
Name : |
Mr. Padam Kumar Garg |
|
Designation : |
Director |
|
Address : |
B-4,Senior Police Officers Quarters, 24-25 Hosur Road, Shoolay Circle, Bangalore - 560025, Karnataka, India |
|
Date of Birth/Age : |
26.04.1961 |
|
Date of Appointment : |
23.10.2010 |
|
DIN No.: |
01959681 |
|
|
|
|
Name : |
Mr. Munivenkatappa Nagaraja |
|
Designation : |
Director |
|
Address : |
29/1, 2nd Cross, Kanakanapalya 4th Block, Jayanagar, Bangalore BBM - 560011, Karnataka, India |
|
Date of Birth/Age : |
08.10.156 |
|
Date of Appointment : |
17.12.2008 |
|
DIN No.: |
02893520 |
|
|
|
|
Name : |
Mr. Madaiah Mahadev |
|
Designation : |
Managing Director |
|
Address : |
No. 161, 1st Floor, 1st C Cross, 6th Main, 4th, Block, 2nd Phase, B S K 3rd Stage, Bangalore - 560085, Karnataka, India |
|
Date of Birth/Age : |
20.06.1957 |
|
Date of Appointment : |
23.08.2013 |
|
DIN No.: |
03334378 |
|
|
|
|
Name : |
Mr. Venkata Siva Reddy |
|
Designation : |
Director |
|
Address : |
#75/3, 3rd Cross, 5th PHS, 5th BLK, BSK 3rd Sage, Bangalore - 560085, Karnataka, India |
|
Date of Birth/Age : |
02.10.1954 |
|
Date of Appointment : |
21.10.2011 |
|
DIN No.: |
05124568 |
|
|
|
|
Name : |
Mr. Nagara Gadde Jagannath |
|
Designation : |
Director |
|
Address : |
No. 190, 2nd Cross, AGS Layout,, Rajmahal Vilas Extention, 2nd Stage, Bangalore - 560094, Karnataka, India |
|
Date of Birth/Age : |
11.11.1955 |
|
Date of Appointment : |
24.01.2012 |
|
DIN No.: |
05226031 |
|
|
|
|
Name : |
Mr. Chandrashekar Ranganna Deodurg |
|
Designation : |
Director |
|
Address : |
Plot No 260, Shrivatsa Nilaya, 6th Main Cross, GDA Layout Behind Central Bus Stand, Gulbarga - 585103, Karnataka, India |
|
Date of Birth/Age : |
01.08.1964 |
|
Date of Appointment : |
29.12.2011 |
|
DIN No.: |
05236387 |
|
|
|
|
Name : |
Mr. Ramachandra Lakshminarasimhiah Kittanakere |
|
Designation : |
Director |
|
Address : |
264, 3rd Main, 5th Cross Avalahalli, BDA Layout, BSK 3rd Stage, Bangalore - 560085, Karnataka, India |
|
Date of Birth/Age : |
01.04.1955 |
|
Date of Appointment : |
04.12.2013 |
|
DIN No.: |
06779649 |
|
|
|
|
Name : |
Mr. Manchegowda Ramakrishna |
|
Designation : |
Director |
|
Address : |
56/E, 14th Main, Industrial Commerce, Layout, Vijayanagar, Bangalore - 560040, Karnataka, India |
|
Date of Birth/Age : |
03.04.1962 |
|
Date of Appointment : |
06.09.2014 |
|
DIN No.: |
07008930 |
|
|
|
|
Name : |
Mr. Lachanaik Ramanaik Neelanaik |
|
Designation : |
Managing Director |
|
Address : |
GESCOM Office Behind Shakti Nursing Home, 2nd Cross, Parvathi Nagar, Talur Road, Bellary-583101, Karnataka, India |
|
Date of Birth/Age : |
01.07.1959 |
|
Date of Appointment : |
04.09.2014 |
|
DIN No.: |
07054491 |
KEY EXECUTIVES
|
Name : |
Mr. Raghavendra Ramarao Joshi |
|
Designation : |
Chief Finance Officer |
|
Address : |
Gulbarga Main Road, Gulbarga, Gulbarga - 585102, Karnataka, India |
|
Date of Appointment : |
07.02.2015 |
|
PAN No.: |
ABFPJ6028F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ravikumar |
|
305136095 |
|
L R Neela Naik |
|
1 |
|
M Mahadev |
|
1 |
|
K L Ramchandra |
|
1 |
|
ISN Prasad |
|
1 |
|
G Kumar Naik |
|
1 |
|
S Sumanth |
|
1 |
|
Vipul Bansal |
|
1 |
|
Ilyas Ahmed Isamadi |
|
1 |
|
Nanda Kulkarni |
|
1 |
|
Total |
|
305136104 |
Equity Share Break up (Percentage of Total Equity)
As on: 31.12.2014
|
Category |
Percentage |
|
Government [Central and State] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the activity of distribution of Electricity. |
|
|
|
|
Products : |
--- |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Rural Electrification Corporation Limited, Core 4scope Complex, 7 Lodi Road, New Delhi - 110003, India Power Finance Corporation Limited, 'Urjanidhi', 1,Barakhamba Lane, Connaught Place, New Delhi - 110001, India |
|
|
|
|
Auditors : |
|
|
Name : |
B K Ramadhyani and Company Chartered Accountants |
|
Address : |
4B, CHITRAPUR BHAVAN, No 68, 8th Main, 15th Cross, Malleshwaram,
Bangalore – 560055, Karnataka, India |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFB1153G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises over which key management personal and their relations are
able to exercise significant influence |
Power company of Karnataka Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 6000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
305,136,104 |
Equity Shares |
Rs.10/- each |
Rs. 3051.361 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3051.361 |
3051.361 |
3051.361 |
|
(b) Reserves & Surplus |
1638.439 |
1592.005 |
2671.432 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
3025.800 |
2540.600 |
1590.600 |
|
Total
Shareholders’ Funds (1) + (2) |
7715.600 |
7183.966 |
7313.393 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5336.907 |
3929.617 |
4055.265 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
31.746 |
91.478 |
|
(c) Other long term
liabilities |
3828.565 |
3680.339 |
3071.710 |
|
(d) long-term
provisions |
880.345 |
766.221 |
316.907 |
|
Total Non-current
Liabilities (3) |
10045.817 |
8407.923 |
7535.360 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
29594.573 |
26917.938 |
22980.978 |
|
(c) Other
current liabilities |
3884.735 |
2838.117 |
2685.147 |
|
(d) Short-term
provisions |
22.159 |
80.913 |
91.658 |
|
Total Current
Liabilities (4) |
33501.467 |
29836.968 |
25757.783 |
|
|
|
|
|
|
TOTAL |
51262.884 |
45428.857 |
40606.536 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
16025.669 |
14751.540 |
13242.382 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1763.067 |
857.834 |
525.154 |
|
(iv)
Intangible assets under development |
60.199 |
49.464 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
89.957 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2917.120 |
1587.411 |
280.901 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
20856.112 |
17246.349 |
14048.537 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1530.794 |
700.775 |
776.831 |
|
(c) Trade
receivables |
15273.842 |
10968.294 |
11212.015 |
|
(d) Cash
and cash equivalents |
921.412 |
2268.226 |
1468.444 |
|
(e)
Short-term loans and advances |
2914.598 |
3109.302 |
2746.692 |
|
(f) Other
current assets |
9766.126 |
11135.911 |
10354.017 |
|
Total
Current Assets |
30406.772 |
28182.508 |
26557.999 |
|
|
|
|
|
|
TOTAL |
51262.884 |
45428.857 |
40606.536 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28895.852 |
28500.410 |
25104.514 |
|
|
|
Other Income |
455.254 |
779.646 |
306.652 |
|
|
|
TOTAL |
29351.106 |
29280.056 |
25411.166 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase Power |
23887.672 |
23879.633 |
18934.558 |
|
|
|
Prior Period Expenses |
(2211.002) |
70.783 |
(262.031) |
|
|
|
Employees benefits expense |
2749.600 |
2939.886 |
2105.648 |
|
|
|
Other expenses |
3194.471 |
2918.485 |
3287.647 |
|
|
|
TOTAL |
27620.741 |
29808.787 |
24065.822 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
1730.365 |
(528.731) |
1345.344 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
641.371 |
510.247 |
603.695 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1088.994 |
(1038.978) |
741.649 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
835.533 |
906.610 |
828.046 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
253.461 |
(1945.588) |
(86.397) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(121.702) |
(59.733) |
(40.196) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
375.163 |
(1885.855) |
(46.201) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.23 |
(6.18) |
(0.15) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.30 |
(6.62) |
(0.18) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.99 |
(1.86) |
5.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.51 |
(4.37) |
(0.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
(0.27) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.69 |
0.55 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.94 |
1.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
3051.361 |
3051.361 |
3051.361 |
|
Reserves & Surplus |
2671.432 |
1592.005 |
1638.439 |
|
Share Application money pending allotment |
1590.600 |
2540.600 |
3025.800 |
|
Net worth |
7313.393 |
7183.966 |
7715.600 |
|
|
|
|
|
|
long-term borrowings |
4055.265 |
3929.617 |
5336.907 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
4055.265 |
3929.617 |
5336.907 |
|
Debt/Equity ratio |
0.554 |
0.547 |
0.692 |
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 |
25104.514 |
28500.410 |
28895.852 |
|
|
|
13.527 |
1.387 |
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 |
25104.514 |
28500.410 |
28895.852 |
|
Profit/ loss |
(46.201) |
(1885.855) |
375.163 |
|
|
(0.18%) |
(6.62%) |
1.30% |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILES:
CASE PENDING
|
LITIGATION DETAILS |
|||||||
|
HIGH COURT OF KARNATAK – BENGALURU BENCH |
|||||||
|
MISC.CVL 12516/2011 |
|||||||
|
PETITIONER/ APPNT.
NAME |
GVPR ENGINEERS LIMITED |
||||||
|
RESPONDENT/ DEFNT.
NAME |
GULBARGA ELECTRICITY SUPPLY COMPANY LIMITED |
||||||
|
PETNR./ APPNT.
ADVOCATE |
LM CHIDANANDAYYA |
||||||
|
RESPONDENT/ DEFNT.
ADVOCATE |
- |
||||||
|
DATE FILED |
17.06.2011 |
||||||
|
CLASSIFICATION |
- |
||||||
|
DISTRICT: |
BENGALURU CITY |
||||||
|
STAGE: |
PENDING FOR ADMISSION |
||||||
|
LAST POSTED FOR |
- |
||||||
|
LAST ACTION TAKEN |
-- |
||||||
|
LAST DATE OF ACTION
|
- |
||||||
|
NEXT HEARING DATE: |
|
||||||
|
LAST ORDER |
-- |
||||||
|
BEFORE HON’BLE
JUDGE |
--- |
||||||
|
LOWER COURT DETAILS
|
|||||||
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loan from others |
124.848 |
140.807 |
|
Less: Current Maturities |
16.059 |
16.059 |
|
Total |
108.789 |
124.848 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10559349 |
09/03/2015 |
600,000,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI - 110003, INDIA |
C49196348 |
|
2 |
10558022 |
02/03/2015 |
1,034,132,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI - 110003, INDIA |
C48311757 |
|
3 |
10532692 |
28/10/2014 |
350,086,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI - 110003, INDIA |
C34525055 |
|
4 |
10434519 |
10/06/2013 |
1,325,600,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI - 110003, INDIA |
B78578929 |
|
5 |
10435004 |
10/06/2013 |
1,643,131,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI - 110003, INDIA |
B78822483 |
|
6 |
10363133 |
06/06/2012 |
185,060,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI - 110003, INDIA |
B42687236 |
|
7 |
10363138 |
06/06/2012 |
1,590,669,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI - 110003, INDIA |
B42687780 |
|
8 |
10214556 |
08/03/2010 |
373,700,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE,, CONNAUGHT PLACE, NEW DELHI - 110001, INDIA |
A82591553 |
|
9 |
10207974 |
23/02/2010 |
144,200,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE,, CONNAUGHT PLACE, NEW DELHI - 110001, INDIA |
A81193369 |
|
10 |
10163921 |
03/06/2009 |
108,056,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI - 110003, INDIA |
A64553068 |
* Date of charge modification
FIXED ASSETS:
- Land and Building
- Plant and Machinery
- Vehicles
- Furniture and Fixture
- Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report: No press reports / filings exists on the
subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
48 |
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.