MIRA INFORM REPORT
|
Report No. : |
352974 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
WAAREE EINGINES LIMITED (w.e.f. 02.05.2013) |
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Formerly Known
As : |
WAAREE ENERGIES PRIVATE LIMITED (w.e.f. 12.12.2007) WAAREE ENERGIES PRIAVE LIMITED (w.e.f. 15.10.2007) WAAREE SOLAR PRIVATE LIMITED (w.e.f. 25.04.2007) ANMOL FLUID CONNECTORS PRIVATE LIMITED |
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Registered
Office : |
602, 6th Floor, Western Edge – I, Western Express Highway, Borivali
(West), Mumbai – 400066, Maharashtra |
|
Tel. No |
91-22-66444444/06/27 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
18.12.1990 |
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Com. Reg. No.: |
11-059463 |
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Capital Investment
/ Paid-up Capital : |
Rs. 758.225 Million |
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CIN No.: [Company Identification
No.] |
U29248MH1990PLC059463 |
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IEC No.: |
0307047296 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACA4043J |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Subject is mainly engaged in
business of manufacture of Solar PV Modules and setting up of Projects in solar
space. (Registered
Activity) |
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No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1990 and it is engaged manufacturing and exporting solar power system. It provides solar power plants, solar farms and solar power projects, solar rooftop systems, solar home power systems, solar water pumps, solar water heaters, solar cookers, solar home lighting, solar lanterns and solar gadget kits such as solar mobile charger, solar bags, solar lights and solar lamps. For the financial year ended 2015, company has reported extraordinary growth of 139% in its revenue and it has maintained satisfactory profitability margins at 3.41% during the year under a review. Rating takes into account of the improvement in the financial profile marked by growth in revenue and profit levels and improvement in the capital structure during FY15 combined with favourable solar sector outlook. Rating continue to draw strength from the experience of the promoters with presence in diverse business segment, technical competence resulting in strong execution capabilities, moderate capital structure, healthy order book position providing strong revenue visibility and favorable long term prospects for the solar power industry. Rating strength is partially offset by performance risk of the Solar Photo Voltaic (SPV) modules, volatility in raw-material prices, working capital intensive nature of operations, exposure to foreign exchange fluctuation. Trade relations are reported as fair. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition. |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE RATING |
|
Rating |
Long Term Bank Facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
August 27, 2015 |
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Rating Agency Name |
CARE RATING |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
August 27, 2015 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Amar Mallick |
|
Designation : |
DGM – Finance |
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Contact No.: |
91-22-66444444 |
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Date : |
07.12.2015 |
LOCATIONS
|
Registered Office : |
602, 6th Floor, Western Edge – I, Western Express Highway,
Borivali (West), Mumbai – 400066, Maharashtra, India |
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Tel. No.: |
91-22-66444444/06/27 |
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Fax No.: |
91-22-66444400 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
Plot No.231-236, Surat Special Economic Zone, Diamond Park, Sachin,
Surat – 394 230, Gujarat, India |
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Tel. No.: |
91-261-2398661 |
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Sales Office : |
Building No. 142, Unit No. 9/10, Indian Corporation Compound, Mankoli Naka,
Village – Dapode, Bhiwandi, Thane – 431302, Maharashtra, India |
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Branch Office : |
Located at:
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DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Hitesh Chimanlal Doshi |
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Designation : |
Managing Director |
|
Address : |
93/94, Mahagiri Co-Operative Housing Society, Ashok Chakravarty Road,
Kandivali (East), Mumbai - 400 101, Maharashtra, India |
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Date of Birth/Age : |
22.02.1967 |
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Date of Appointment : |
02.05.2013 |
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DIN No.: |
00293668 |
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PAN No.: |
AABPD0625P |
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Name : |
Mr. Viren Chimanlal Doshi |
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Designation : |
Whole time director |
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Address : |
93/94, Mahagiri Co-Operative Housing Society, Ashok Chakravarty Road, Kandivali
(East), Mumbai - 400 101, Maharashtra, India |
|
Date of Birth/Age : |
06.11.1968 |
|
Date of Appointment : |
02.05.2013 |
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DIN No.: |
00207121 |
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PAN No.: |
AABPD0626Q |
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Name : |
Mr. Hitesh Pranjivan Mehta |
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Designation : |
Director |
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Address : |
F-202, Krishna Residency, Near Dalmia College, Sundar Nagar, Malad
(West), Mumbai – 400 064, Maharashtra, India |
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Date of Birth/Age : |
29.06.1965 |
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Date of Appointment : |
02.05.2013 |
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DIN No.: |
00207506 |
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PAN No.: |
AAEPM2214J |
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|
Name : |
Mr. Modesto Volpe |
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Designation : |
Director |
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Address : |
Corso Mazzini, 61, Lodi-26900, Italy |
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Date of Birth/Age : |
09.04.1955 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02895190 |
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Name : |
Mr. Samir Surendra Shah |
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Designation : |
Director |
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Address : |
35 Prabhat, 78, D Desai Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
08.01.1959 |
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Date of Appointment : |
01.09.2014 |
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DIN No.: |
01374883 |
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Name : |
Riazul Hasan Naqv |
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Designation : |
Additional Director |
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Address : |
X- 29 Hauz Khas, New Delhi - 110016, India |
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Date of Appointment : |
03.11.2014 |
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DIN No.: |
02722603 |
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Name : |
Binita Hitesh Doshi |
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Designation : |
Additional Director |
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Address : |
94, Mahagiri, 9th Floor, Ashok Nagar, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Appointment : |
26.03.2015 |
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DIN No.: |
01352008 |
KEY EXECUTIVES
|
Name : |
Mr. Amar Mallick |
|
Designation : |
DGM – Finance |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Hitesh C. Doshi |
|
5370796 |
|
Chimanlal T. Doshi |
|
942832 |
|
Chimanlal T. Doshi |
|
5 |
|
Binita H. Doshi |
|
2500000 |
|
Binita H. Doshi |
|
945500 |
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Pankaj C. Doshi HUF Rep. by Karta Pankaj C. Doshi |
|
2902436 |
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Chimanlal Doshi HUF Rep. by Karta Chimanlal Doshi |
|
1568652 |
|
Bindiya K. Doshi |
|
7564298 |
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Kirit C. Doshi |
|
1330755 |
|
Viren C. Doshi |
|
2097354 |
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Bina P. Doshi |
|
2135751 |
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Hitesh C. Doshi HUF Rep. by Karta Hitesh C. Doshi |
|
1155685 |
|
Pankaj C. Doshi |
|
376080 |
|
Rasila C. Doshi |
|
7648982 |
|
Viren C. Doshi HUF Rep. by Karta Viren C. Doshi |
|
2584615 |
|
Mahavir Thermoequip Private Limited, India |
|
22275103 |
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Neepa V. Doshi |
|
3285226 |
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V.T. Telemetica, Italy |
|
2400000 |
|
Tejas J. Mehta |
|
276500 |
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Kirit C, Doshi HUF Rep. by Karta Kirit C. Doshi |
|
1076928 |
|
Patan Solar Private Limited, India |
|
6562500 |
|
Divya Parekh |
|
1 |
|
Jayesh D. Shah |
|
17501 |
|
Hitesh P. Mehta |
|
250000 |
|
Prerana Shah |
|
17500 |
|
Bhartiben Shah |
|
50000 |
|
Vinaykant Shah |
|
50000 |
|
Manish Gardi |
|
62500 |
|
Sangita Shah |
|
112500 |
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Total |
|
75560000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
3.54 |
|
Bodies corporate |
38.17 |
|
Directors or relatives of Directors |
57.88 |
|
Other top fifty shareholders |
0.41 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is mainly engaged in
business of manufacture of Solar PV Modules and setting up of Projects in
solar space. (Registered
Activity) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
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Countries : |
European Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
SGCO and Company Chartered Accountants |
|
Address : |
4A, Kaledonia
HDIL, 2nd Floor, Sahar Road, Near Andheri Station, Andheri (East),
Mumbai - 400 069, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS7106D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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Associate firm : |
Saswata Solar LLP |
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Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their
relatives: |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75822500 |
Equity Shares |
Rs.10/- each |
Rs. 758.225
Million |
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|
Shareholder having more than 5% shareholding
|
Name of shareholders |
As at 31.03.2015 |
|
|
No. of shares
held |
Percentage |
|
|
Mahavir Thermoequip Private Limited |
22241 |
29.33% |
|
Hitesh C. Doshi |
5371 |
7.08% |
|
Bina P. Doshi |
4524 |
5.97% |
|
Bindiya K. Doshi |
7564 |
9.98% |
|
Rasila C. Doshi |
7649 |
10.09% |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
758.225 |
755.600 |
750.000 |
|
(b) Reserves & Surplus |
647.584 |
366.292 |
357.835 |
|
(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) |
1405.809 |
1121.892 |
1107.835 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
89.884 |
134.794 |
177.778 |
|
(b) Deferred tax liabilities (Net) |
33.062 |
24.877 |
22.082 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
41.867 |
27.936 |
20.773 |
|
Total Non-current
Liabilities (3) |
164.813 |
187.607 |
220.633 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
957.656 |
1049.037 |
634.649 |
|
(b) Trade
payables |
1297.253 |
285.252 |
612.051 |
|
(c) Other
current liabilities |
1444.731 |
413.257 |
160.563 |
|
(d) Short-term
provisions |
111.795 |
19.647 |
131.469 |
|
Total Current
Liabilities (4) |
3811.435 |
1767.193 |
1538.732 |
|
|
|
|
|
|
TOTAL |
5382.057 |
3076.692 |
2867.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
417.630 |
386.120 |
247.781 |
|
(ii)
Intangible Assets |
9.476 |
11.497 |
13.493 |
|
(iii)
Capital work-in-progress |
0.000 |
4.511 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1633.691 |
220.190 |
217.740 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
440.181 |
169.234 |
6.575 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2500.978 |
791.552 |
485.589 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
780.293 |
241.180 |
188.586 |
|
(c) Trade
receivables |
774.903 |
846.638 |
1506.919 |
|
(d) Cash
and cash equivalents |
788.815 |
216.102 |
131.342 |
|
(e)
Short-term loans and advances |
509.239 |
971.313 |
513.255 |
|
(f) Other
current assets |
27.829 |
9.907 |
41.509 |
|
Total
Current Assets |
2881.079 |
2285.140 |
2381.611 |
|
|
|
|
|
|
TOTAL |
5382.057 |
3076.692 |
2867.200 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
7832.083 |
3139.766 |
2921.356 |
|
|
Other Income |
174.641 |
209.610 |
54.587 |
|
|
TOTAL |
8006.724 |
3349.376 |
2975.943 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4419.896 |
2135.849 |
1132.654 |
|
|
Purchases of Stock-in-Trade |
2224.497 |
389.742 |
849.447 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
-38.537 |
-17.984 |
45.337 |
|
|
Employees benefits expense |
164.935 |
206.959 |
107.115 |
|
|
Other expenses |
657.870 |
496.586 |
367.803 |
|
|
TOTAL |
7428.661 |
3211.152 |
2502.356 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
578.063 |
138.224 |
473.587 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
107.591 |
110.351 |
60.927 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
470.472 |
27.873 |
412.660 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
42.112 |
23.832 |
19.824 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
428.360 |
4.041 |
392.836 |
|
|
|
|
|
|
|
Less |
TAX |
154.680 |
0.832 |
140.191 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
273.680 |
3.209 |
252.645 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
344.022 |
899.471 |
NA |
|
|
TOTAL EARNINGS |
344.022 |
899.471 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1449.669 |
1369.010 |
NA |
|
|
Capital Goods |
74.891 |
106.363 |
NA |
|
|
Trade Goods |
1312.598 |
181.080 |
NA |
|
|
TOTAL IMPORTS |
2837.158 |
1656.453 |
NA |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.62 |
0.04 |
3.37 |
Expected Sales (2015-16): Rs. 9000.000 Million
The above information has been parted by Mr. Amar Mallick (DGM Finance)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
1596.052 |
546.490 |
NA |
|
Net cash flows from (used in) operations |
1549.502 |
408.606 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.49 |
0.10 |
8.65 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.38 |
4.40 |
16.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.43 |
0.14 |
14.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.00 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.75 |
1.06 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76 |
1.29 |
1.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
750.000 |
755.600 |
758.225 |
|
Reserves & Surplus |
357.835 |
366.292 |
647.584 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1107.835 |
1121.892 |
1405.809 |
|
|
|
|
|
|
long-term borrowings |
177.778 |
134.794 |
89.884 |
|
Short term borrowings |
634.649 |
1049.037 |
957.656 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
812.427 |
1183.831 |
1047.540 |
|
Debt/Equity
ratio |
0.733 |
1.055 |
0.745 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2921.356 |
3139.766 |
7832.083 |
|
|
|
7.476 |
149.448 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2921.356 |
3139.766 |
7832.083 |
|
Profit |
252.645 |
3.209 |
273.680 |
|
|
8.65% |
0.10% |
3.49% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 36/37, Damji Shyamji Ind. Complex, Mahakali Caves Road, Andheri
(East), Mumbai – 400093, Maharashtra, India to
the present address w.e.f. 01.10.2011.
CORPORATE INFORMATION
Subject is a limited company
registered in India, under companies act 1956, and was incorporated in December
1990. The company is mainly engaged in business of manufacture of Solar PV
Modules and setting up of Projects in solar space. The principal place of
business is at Mumbai, India and the plant is located at Surat, India.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Term loan from Financial Institution |
0.995 |
0.000 |
|
SHORT TERM
BORROWING |
|
|
|
From Finance Company |
0.000 |
47.500 |
|
Total |
0.995 |
47.500 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10589810 |
12/08/2015 |
200,000,000.00 |
PINKY VENTURES PRIVATE LIMITED |
6TH FLOOR, SIDDHIVINAYAK CHAMBERS, OPP MIG CLUB, GANDHI NAGAR, BANDRA (EAST), MUMBAI, Maharashtra - 400051, INDIA |
C63546576 |
|
2 |
10532953 |
09/10/2014 * |
3,000,000,000.00 |
PTC INDIA FINANCIAL SERVICES LIMITED |
7th Floor, Telephone Exchange Building, 8 Bhikaji Cama Place, New Delhi, Delhi - 110066, INDIA |
C44118917 |
|
3 |
10531886 |
26/09/2014 |
3,000,000,000.00 |
PTC INDIA FINANCIAL SERVICES LIMITED |
7th Floor, Telephone Exchange Building, 8 Bhikaji Cama Place, New Delhi, Delhi - 110066, INDIA |
C34008243 |
|
4 |
10322772 |
03/11/2012 * |
1,000,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH , S.V.ROAD, MALAD (WEST), MUMBAI, Maharashtra - 400064, INDIA |
B62873781 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
|
Claims against the company not acknowledge
as debts |
49.400 |
|
Estimated amount of contracts remaining to
be executed on Capital Account (Net of Advance) |
190.000 |
|
Guarantee given by bank on behalf of the
company |
75.250 |
|
Guarantee given by company on behalf of the
group company |
1153.000 |
|
Letter of credit outstanding |
194.124 |
|
Inland bill discounting |
151.959 |
|
Disputed sales tax liability |
25.712 |
|
|
|
|
Total |
1839.445 |
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Electrical
Installation
- Computer and
Printers
- Office Equipments
- Furniture and
Fixture
- Vehicles
- Leasehold
Improvement
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. 66.80 |
|
UK Pound |
1 |
Rs. 100.49 |
|
Euro |
1 |
Rs. 72.52 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.