MIRA INFORM REPORT
|
Report No. : |
305525 |
|
Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
L&T- MHPS BOILERS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
L AND T – MHI BOILERS PRIVATE LIMITED (w.e.f.18.04.2007) L AND T BOILERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
L and T House, Ballard Estate, Mumbai - 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.10.2006 |
|
|
|
|
Com. Reg. No.: |
11-165102 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2341.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29119MH2006PTC165102 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL2635C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Super Critical Boilers and Pulverisers. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Larsen and Toubro Limited, India
and Mitsubishi Hitachi Power System Limited (MHPS), Japan. It is a well-established and reputed company having fine track record.
The company is progressing well. The company also receives good operational and financial support from
its group. Directors are reported to be well experienced and respectable
businessman. Trade relations are fair. Business is active. Payments are reported to
be regular and as per commitment. The company can be considered good for normal business 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “AA-” |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
06.10.2014 |
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. Jayesh Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-261-2808536 |
|
Date : |
30.01.2015 |
LOCATIONS
|
Registered Office : |
L and T House, Ballard Estate, Mumbai - 400001, |
|
Tel. No.: |
91-22-67525617/ 67525656 |
|
Mobile No.: |
91-9913605561 [Mr. Anand Vade] |
|
Fax No.: |
91-22-67525893/ 67525858 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
L and T Technology Centre, 1st Floor, Pankaj Building,
NH-8, Chhani Road, Vadodara - 390024, Gujarat, India |
|
Tel. No.: |
91-265-2451600 / 2600 |
|
Fax No.: |
91-265-2452224 |
|
Website |
|
|
|
|
|
Factory : |
Hazira Manufacturing Complex-West, |
|
Tel No.: |
91-261-2808500 |
|
Fax No.: |
91-261-2808641 |
|
|
|
|
Engineering and Marketing Office : |
|
|
Tel No.: |
91-129-4291000 |
|
Fax No.: |
91-129-4291222 |
|
E-mail : |
DIRECTORS
As on 23.09.2014
|
Name : |
Mr. Masayuki Kubo |
|
Designation : |
Director |
|
Address : |
3-4-4-501, Kamioooka-Nishi, Konan-Ku, Yokohama-Shi, Kanagawa-Ken,
Japan |
|
Date of Birth/Age : |
15.08.1952 |
|
Date of Appointment : |
28.05.2007 |
|
DIN No.: |
01585730 |
|
|
|
|
Name : |
Mr. Yozaburo Mabuchi |
|
Designation : |
Director |
|
Address : |
2-33-13, Shiroyamadai, Nagasa KI-Shi, Nagasaki-ken, Nagasaki, Japan |
|
Date of Birth/Age : |
04.10.1951 |
|
Date of Appointment : |
28.05.2007 |
|
DIN No.: |
01585780 |
|
|
|
|
Name : |
Mr. Shailendra Roy Narain |
|
Designation : |
Chairman |
|
Address : |
Flat No. 603/604, Kalpana Building, Opposite Ramkrishna Mission
Hospital, 11th Road, Khar (West), Mumbai – 400052, Maharashtra,
India |
|
Date of Birth/Age : |
18.09.1952 |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
02144836 |
|
|
|
|
Name : |
Mr. Sunil Rameshchandra Pande |
|
Designation : |
Director |
|
Address : |
703, Sovereign Hiranandani Gardens, Powai, Mumbai –
400076, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1950 |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
03060968 |
|
|
|
|
Name : |
Mr. Ashok Kumar Sonthalia |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
C-701, ISCON Heights, Gotri Road, Gotri, Vadodara – 390021, Gujarat,
India |
|
Date of Birth/Age : |
01.07.1968 |
|
Date of Appointment : |
13.05.2014 |
|
DIN No. : |
03259683 |
|
|
|
|
Name : |
Hideshi Kawamoto |
|
Designation : |
Director |
|
Address : |
Koudagou, 1196-135, Nagayocho, Nishisonokigun, Japan |
|
Date of Birth/Age : |
07.02.1962 |
|
Date of Appointment : |
26.04.2012 |
|
DIN No.: |
05256959 |
|
|
|
|
Name : |
Mr. Amarjit Lamba Singh |
|
Designation : |
Whole-time director |
|
Address : |
2439, Sector-C, PKT-2, Vasant Kunj, New Delhi - 110070, India |
|
Date of Birth/Age : |
01.06.1952 |
|
Date of Appointment : |
24.05.2012 |
|
DIN No.: |
05284078 |
|
|
|
|
Name : |
Mr. Yoshiyuki Wakabayashi |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
45-1, Hayama – 2 Chome, Nagasaki, Japan |
|
Date of Birth/Age : |
09.11.1955 |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
05352353 |
KEY EXECUTIVES
|
Name : |
Mr. Jayesh Shah |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Anilkumar Parasmal Mehta |
|
Designation : |
Company Secretary and Chief Financial Officer |
|
Address : |
53, Nakoda Complex, Hiran Magri, Sector-4, Udaipur – 313002,
Rajasthan, India |
|
Date of Birth/Age : |
07.09.1964 |
|
Date of Appointment : |
24.07.2014 |
|
PAN No. : |
ABAPM8233E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Larsen and Toubro Limited, India |
119391000 |
51.00 |
|
Mitsubishi Hitachi Power Systems Limited, Japan |
114709000 |
49.00 |
|
Total |
234100000 |
100.00 |
As on 23.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings (Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
49.00 |
|
Bodies corporate |
51.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Super Critical Boilers and Pulverisers. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
-- |
||||
|
|
|
||||
|
Agencies Held : |
-- |
||||
|
|
|
||||
|
Exports : |
-- |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit (30 Days) |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
OEM’s and End Users
|
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Canara Bank, 104, Jyoti Commercial Complex, Near Shyamal Cross Road, Vejalpur, Ahmedabad – 380015, Gujarat, India · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227 D, Nariman Point, Mumbai - 400021, Maharashtra, India · ICICI Bank Limited, Landmark Race Course Circle, Alkapuri, Baroda – 390015, Gujarat, India · The Bank Of Tokyo Mitsubishi UFJ Limited, Mumbai Branch Hoechst House, 15th & 16th Floor, 193,Vinay K Shah Marg, Nariman Point, Mumbai - 400021, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Cash Credit: Rs. 3540.000 Millions (From The Bank of Tokyo Mitsubishi) Cash Credit: Rs. 5000.000 Millions (From Kotak Mahindra Bank)
NOTE: NATURE OF SECURITY Loans repayable on demand from banks include fund based
working capital facilities viz. cash credits and overdraft. The secured
portion of working capital facilities and other non-fund based facilities
viz. bank guarantees and letters of credit are secured by hypothecation of
inventories, book debts and receivables. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shar P and Tannan Chartered Accountants |
|
Address : |
Ravindra Annexe, 194, Churchgate Reclamation, Dinshaw Vachha Road, Mumhai – 400020, Maharashtra, India. |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS2967E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Larsen and Toubro Limited L99999MH1946PLC004768 |
|
|
|
|
Fellow Subsidiary
Company : |
· L&T - MHPS Turbine Generators Private Limited CIN No.: U31101MH2006PTC166541 · L&T-Sargent and Lundy Limited CIN No.: U74210MH1995PLC088099 · L&T Howden Private Limited CIN No.: U31401MH2010PTC204403 · L&T Infrastructure Finance Company Limited CIN No.: U67190TN2006PLC059527 · Larsen and Toubro Infotech Limited CIN No.: U72900MH1996PLC104693 · L&T Special Steels and Heavy Forgings Private Limited CIN No.: U27109MH2009PTC193699 · L&T Power Development Limited CIN No.: U40101MH2007PLC174071 · EWAC Alloys Limited CIN No.: U74999MH1962PLC012315 · Nabha Power Limited CIN No.: U40102PB2007PLC031039 · Mitsubishi Heavy Industries India Private Limited CIN No.: U29299DL2005PTC133062 · Mitsubishi Hitachi Power Systems India Private Limited CIN No.: U29292DL2011FTC225628 · MHI Technical Services Corporation · L&T Cutting Tools Limited CIN No.: U28920MH1952PLC008893 · L & T-Valdel Engineering Limited CIN No.: U74210KA2004PLC035094 · L&T Valves Limited CIN No.: U74999MH1961PLC012188 · L&T Hydrocarbon Engineering Limited CIN No.: U11200MH2009PLC191426 |
|
|
|
|
Joint Venture : |
Mitsubishi Heavy Industries Limited |
CAPITAL STRUCTURE
As on 23.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
235,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 2350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
234,100,000 |
Equity Shares |
Rs.10/- each |
Rs. 2341.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
2341.000 |
2341.000 |
2201.000 |
|
(b) Reserves & Surplus |
1551.563 |
475.988 |
-907.320 |
|
(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) |
3892.563 |
2816.988 |
1293.680 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
5174.171 |
4853.795 |
4807.177 |
|
(b) Deferred tax liabilities (Net) |
466.942 |
204.949 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.379 |
0.379 |
0.000 |
|
Total Non-current
Liabilities (3) |
5641.492 |
5059.123 |
4807.177 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
998.048 |
5196.125 |
0.001 |
|
(b) Trade
payables |
6223.029 |
7810.642 |
6591.229 |
|
(c) Other
current liabilities |
12826.483 |
11604.560 |
18902.520 |
|
(d) Short-term
provisions |
89.137 |
57.319 |
41.911 |
|
Total Current Liabilities
(4) |
20136.697 |
24668.646 |
25535.661 |
|
|
|
|
|
|
TOTAL |
29670.752 |
32544.757 |
31636.518 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4545.553 |
4708.069 |
4585.263 |
|
(ii)
Intangible Assets |
143.840 |
178.377 |
61.934 |
|
(iii)
Capital work-in-progress |
9.805 |
12.230 |
276.501 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
143.146 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.476 |
49.243 |
67.255 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4702.674 |
4947.919 |
5134.099 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
3261.183 |
4501.800 |
985.630 |
|
(b)
Inventories |
1756.510 |
1648.522 |
3682.379 |
|
(c) Trade
receivables |
14476.306 |
15301.381 |
14411.787 |
|
(d) Cash
and cash equivalents |
2012.204 |
4273.778 |
218.599 |
|
(e)
Short-term loans and advances |
1905.932 |
1752.597 |
3739.191 |
|
(f) Other
current assets |
1555.943 |
118.760 |
3464.833 |
|
Total
Current Assets |
24968.078 |
27596.838 |
26502.419 |
|
|
|
|
|
|
TOTAL |
29670.752 |
32544.757 |
31636.518 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
12744.800 |
23790.300 |
24478.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
10435.200 |
21537.200 |
23833.200 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
2309.600 |
2253.100 |
645.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
429.500 |
304.700 |
311.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1880.100 |
1948.400 |
333.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
329.600 |
314.300 |
222.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1550.500 |
1634.100 |
111.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
549.000 |
219.800 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1001.500 |
1414.300 |
111.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
506.900 |
(907.300) |
(1018.300) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Hedge Reserve |
(43.100) |
31.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1551.500 |
476.000 |
(907.300) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Foreign Exchange Earned/ Deemed Exports |
2530.000 |
15683.900 |
18031.300 |
|
|
TOTAL EARNINGS |
2530.000 |
15683.900 |
18031.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.28 |
6.20 |
0.50 |
|
Expected Sales (2014-2015): Rs. 20000.000 Millions
The above information has been parted by Mr. Jayesh Shah (Accounts
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.23 |
5.02 |
0.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.58 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.59 |
3.57 |
3.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.12 |
1.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2201.000 |
2341.000 |
2341.000 |
|
Reserves & Surplus |
-907.320 |
475.988 |
1551.563 |
|
Net
worth |
1293.680 |
2816.988 |
3892.563 |
|
|
|
|
|
|
long-term borrowings |
4807.177 |
4853.795 |
5174.171 |
|
Short term borrowings |
0.001 |
5196.125 |
998.048 |
|
Total
borrowings |
4807.178 |
10049.920 |
6172.219 |
|
Debt/Equity
ratio |
3.716 |
3.568 |
1.586 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
24478.700 |
23790.300 |
12744.800 |
|
|
|
-2.812 |
-46.429 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
24478.700 |
23790.300 |
12744.800 |
|
Profit |
111.000 |
1414.300 |
1001.500 |
|
|
0.45% |
5.94% |
7.86% |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
----- |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10485899 |
27/02/2014 |
1,500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
C00843094 |
|
2 |
10449838 |
09/09/2013 |
3,543,500,000.00 |
THE BANK OF TOKYO MITSUBISHI UFJ LTD |
MUMBAI BRANCH HOECHST HOUSE, 15TH AND 16TH FLOOR, 193, VINAY K SHAH MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B85306363 |
|
3 |
10293039 |
01/06/2011 |
12,500,000,000.00 |
CANARA BANK |
104, JYOTI COMMERCIAL COMPLEX, NEAR SHYAMAL CROSS ROAD, VEJALPUR, AHMEDABAD, GUJARAT - 380015, INDIA |
B15299787 |
|
4 |
10244456 |
27/01/2014 * |
3,000,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B97035059 |
|
5 |
10230836 |
20/11/2014 * |
20,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARK BUILDING,
RACE COURSE CIRCLE, ALKAPURI, |
C36676070 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Foreign currency term loans from banks |
5174.171 |
4853.795 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
285.946 |
1820.946 |
|
Total |
5460.117 |
6674.741 |
YEAR IN RETROSPECT:
The gross sales and other income for the financial year under review were Rs. 12740.000 Millions asagainst Rs. 23790.000 Millions for the previous financial year showing decline of 46% mainly attributable to non- receipt of any major orders.
The profit after tax for the financial year under review registered a decline at Rs. 1000.000 Millions as against Rs. 1410.000 Millions for the previous financial year.During the previous year 2012-13, Company had adopted embedded derivative accounting in accordance with the principles laiddown in the Accounting Standard 30, 31 and 32 issued by Institute of Chartered Accountants of India which has resulted into increase in the profit by Rs. 740.000 Millions.
The profit before tax excluding impact of embedded derivative, is higher in the current year by 62% stands at Rs. 1450.000 Millions as against Rs. 890.000 Millions for the previous financial year due to contingency release on advance progressof projects under execution and control on costs.
During the year 2013-14, the projects under execution have achieved several milestones with stamp of quality and performance. The company achieved successful hydraulic tests for 5 units and also achieved commercial operations of first 700 MW unit of 1400 MW supercritical thermal power plant at Rajpura, Punjab on 30th Jan, 2014. The company completed its first export order to supply pressure parts for Rabigh Arabian Water Electricity Company, Saudi Arabia. The manufacturing facility of the company at Hazira was awarded British Safety Council’s prestigious SWORD of HONOR on 29th November, 2013 in London.
Order booking position remains area of concern due to depressed market conditions. The company booked order worth Rs. 90.000 Millions in the year. The order book stands at Rs. 76980.000 Millions as on 31st March 2014.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
Intangible Assets
· Computer Software
· Know-How
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.61.76 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.