MIRA
INFORM REPORT
|
Report No. : |
334537 |
|
Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
THERMAL POWERTECH CORPORATION INDIA LIMITED |
|
|
|
|
Registered
Office : |
6-3-1090, A-5, |
|
Tel. No.: |
91-40-49048300 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.01.2008 |
|
|
|
|
Com. Reg. No.: |
36-057031 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9541.161 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40103AP2008PLC057031 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT03721E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT8413D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Generation of Power. |
|
|
|
|
No. of Employees
: |
305 (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 |
|
Maximum Credit Limit : |
USD 35000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Gayatri Energy Ventures Private Limited,
Hyderabad”. Even though the company was incorporated during the year 2008, the company
is in the process of constructing its thermal power plant and therefore does
not have its operational income. The company has healthy financial risk profile and strong networth
position. Company also receives strong financial and managerial support from
its holding company. Payments are slow but correct. In view adequate networth position and strong holding company, it can
be considered for 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities= BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
24.11.2014 |
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
31-03-2013.
INFORMATION DENIED
Management Non Co-operative (40-49048366)
LOCATIONS
|
Registered Office : |
6-3-1090, A-5, TSR Towers, Rajbhavan Road, Somajiguda, Hyderabad –
500082, Telangana, India |
|
Tel. No.: |
91-40-49048300 / 23310350 |
|
Fax No.: |
91-40-23370360 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Site Office : |
Pyanampuram / Nelaturu Villages, Muthukur Mandal, SPSR Nellore – 524344, Andhra Pradesh, India |
|
Tel. No.: |
91-40-49048366 |
|
Fax No.: |
91-40-49048367 |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Tikkavarapu Sandeep Kumar Reddy |
|
Designation : |
Managing Director |
|
Address : |
8-2-331/2/A, Road No.3, Banjara Hills, Hyderabad – 500034, Telangana,
India |
|
Date of Birth/Age : |
20.04.1967 |
|
Date of Appointment : |
04.04.2008 |
|
DIN No.: |
00005573 |
|
|
|
|
Name : |
Kin Fei Tang |
|
Designation : |
Director |
|
Address : |
31 Margoliouth Road, Singapore – 258557 |
|
Date of Birth/Age : |
29.03.1951 |
|
Date of Appointment : |
11.02.2011 |
|
DIN No.: |
03472658 |
|
|
|
|
Name : |
Chalam Venkata Durvasula |
|
Designation : |
Director |
|
Address : |
Plot No.558, Flat No.F1, Swarna Heights, Arora Colony, Road No.3,
Banjara Hills, Hyderabad – 500034, Telangana, India |
|
Date of Birth/Age : |
30.08.1969 |
|
Date of Appointment : |
17.03.2008 |
|
DIN No.: |
02749496 |
|
|
|
|
Name : |
Meng Poh Ng |
|
Designation : |
Director |
|
Address : |
2 Surrey Road, #08-00, Singapore – 307742 |
|
Date of Birth/Age : |
08.08.1956 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
03274824 |
|
|
|
|
Name : |
Shrirang Narayanrao Gaikwad |
|
Designation : |
Nominee Director |
|
Address : |
Flat No.16/180/35, Sector-16, Vasundhara Sahibabad, Ghaziabad –
201010, Uttar Pradesh, India |
|
Date of Birth/Age : |
23.05.1960 |
|
Date of Appointment : |
11.02.2011 |
|
DIN No.: |
03424386 |
|
|
|
|
Name : |
Cheng Guan Tan |
|
Designation : |
Director |
|
Address : |
36E La Salle Street, Singapore – 454936 |
|
Date of Birth/Age : |
02.10.1955 |
|
Date of Appointment : |
11.02.2011 |
|
DIN No.: |
03472688 |
|
|
|
|
Name : |
Praveen Kumar Singh |
|
Designation : |
Director |
|
Address : |
C 9, 9844, Vasant Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
20.01.1962 |
|
Date of Appointment : |
06.06.2011 |
|
DIN No.: |
03548218 |
|
|
|
|
Name : |
Chiap Khiong Koh |
|
Designation : |
Director |
|
Address : |
7, Chwee Chian Road, #04-06, Singapore – 119749 |
|
Date of Birth/Age : |
13.01.1967 |
|
Date of Appointment : |
14.07.2014 |
|
DIN No.: |
05253449 |
KEY EXECUTIVES
|
Name : |
Sree Nagamani Alluri |
|
Designation : |
Company Secretary |
|
Address : |
6-3-598/1, Flat No.402A, Navatha Castle, Venkata Ramana Colony,
Khairthabad, Hyderabad – 500004, Telangana, India |
|
Date of Birth/Age : |
11.11.1984 |
|
Date of Appointment : |
16.10.2010 |
|
PAN No.: |
ANQPA6066R |
|
|
|
|
Name : |
Atul Mohan Nargund |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
B.N.K Reddy |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Gayatri Energy Ventures Private Limited, India |
|
241599300 |
|
Sembcorp Utilities Pte. Limited, Singapore |
|
518297704 |
|
G Siva Kumar Reddy |
|
100 |
|
T V Sandeep Kumar Reddy |
|
100 |
|
T Indira Subbirami Reddy |
|
100 |
|
T. Sarita Reddy |
|
100 |
|
J Brij Mohan Reddy |
|
100 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
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] |
68.21 |
|
Bodies corporate |
31.79 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Generation of Power. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
305 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
Reliance Humsafar, 8-2-618/2, 4th Floor, Road No.11, Banjara Hills,
Hyderabad – 500034, Telangana, India |
|
Tel. No.: |
91-40-30465000 |
|
Fax No.: |
91-40-30465299 |
|
PAN No.: |
AADFB6889R |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Holding company : |
· Gayatri Energy Ventures Private Limited |
|
|
|
|
Ultimate holding
company : |
· Gayatri Projects Limited |
|
|
|
|
Significant
influence |
· Sembcorp Utilities Pte Limited |
|
|
|
|
Subsidiary of
significant influence enterprise : |
· Sembcorp Utilities India Private Limited |
|
|
|
|
Key management
personnel having significant influence : |
· Sembcorp Gayatri O&M Company Limited · Deep Corporation Private Limited · Gayatri Hi-Tech Hotels Limited |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3009803921 |
Equity Shares |
Rs.10/- each |
Rs.30098.039 Million |
|
490196079 |
Preference Shares |
Rs.10/- each |
Rs.4901.961 Million |
|
|
|
|
|
|
|
Total |
|
Rs.35000.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
759897704 |
Equity Shares |
Rs.10/- each |
Rs.7598.977 Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3009803921 |
Equity Shares |
Rs.10/- each |
Rs.30098.039 Million |
|
490196079 |
Preference Shares |
Rs.10/- each |
Rs.4901.961 Million |
|
|
|
|
|
|
|
Total |
|
Rs.35000.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
463920000 |
Equity Shares |
Rs.10/- each |
Rs.4639.200 Million |
|
490196079 |
Preference Shares |
Rs.10/- each |
Rs.4901.961 Million |
|
|
|
|
|
|
|
Total |
|
Rs.9541.161 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 |
9541.161 |
6784.047 |
4639.200 |
|
(b) Reserves & Surplus |
2792.651 |
1996.915 |
1373.598 |
|
(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) |
12333.812 |
8780.962 |
6012.798 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
35590.000 |
33948.495 |
16264.026 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
142.184 |
5284.950 |
452.066 |
|
(d) long-term provisions |
4.508 |
5.053 |
1.850 |
|
Total Non-current Liabilities (3) |
35736.692 |
39238.498 |
16717.942 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
32389.004 |
4743.188 |
634.683 |
|
(d) Short-term provisions |
0.438 |
0.274 |
0.007 |
|
Total Current Liabilities (4) |
32389.442 |
4743.462 |
634.690 |
|
|
|
|
|
|
TOTAL |
80459.946 |
52762.922 |
23365.430 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2337.180 |
1971.304 |
1657.081 |
|
(ii) Intangible Assets |
12.326 |
8.031 |
1.734 |
|
(iii) Capital
work-in-progress |
69163.190 |
44141.827 |
9692.666 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1949.339 |
3531.895 |
5503.799 |
|
(e) Other Non-current assets |
1997.733 |
1089.530 |
192.400 |
|
Total Non-Current Assets |
75459.768 |
50742.587 |
17047.680 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
4406.114 |
1655.241 |
5769.108 |
|
(e) Short-term loans and
advances |
553.709 |
349.876 |
491.162 |
|
(f) Other current assets |
40.355 |
15.218 |
57.480 |
|
Total Current Assets |
5000.178 |
2020.335 |
6317.750 |
|
|
|
|
|
|
TOTAL |
80459.946 |
52762.922 |
23365.430 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.016 |
0.003 |
0.000 |
|
|
|
TOTAL |
0.016 |
0.003 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefits Expenses |
14.103 |
8.109 |
5.847 |
|
|
|
Other Expenses |
6.639 |
3.730 |
4.737 |
|
|
|
TOTAL |
20.742 |
11.839 |
10.584 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(20.726) |
(11.836) |
(10.584) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.122 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(20.726) |
(11.836) |
(10.706) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.47) |
(0.04) |
(0.02) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
23008.288 |
0.000 |
0.000 |
|
Cash generated from/ (used in) operations |
(366711.153) |
(1059255.209) |
(52324.110) |
|
Net cash used in operating activities |
(393892.221) |
(1080794.692) |
(85939.373) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(0.18) |
(0.14) |
(0.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.75 |
3.87 |
2.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.15 |
0.43 |
9.95 |
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 |
4639.200 |
6784.047 |
9541.161 |
|
Reserves & Surplus |
1373.598 |
1996.915 |
2792.651 |
|
Net
worth |
6012.798 |
8780.962 |
12333.812 |
|
|
|
|
|
|
long-term borrowings |
16264.026 |
33948.495 |
35590.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
23008.288 |
|
Total
borrowings |
16264.026 |
33948.495 |
58598.288 |
|
Debt/Equity
ratio |
2.705 |
3.866 |
4.751 |
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 |
|
Total Income |
0.000 |
0.003 |
0.016 |
|
|
|
|
433.333 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
0.000 |
0.003 |
0.016 |
|
Profit |
(10.706) |
(11.836) |
(20.726) |
|
|
|
(394533.33%) |
(129537.50%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Buyers credit |
0.000 |
14578.495 |
|
|
|
|
|
Total |
0.000 |
14578.495 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10565416 |
31/03/2015 |
1,500,000,000.00 |
SYNDICATE BANK |
NIZAM
SHAHI ROAD, OPP KARACHI BACKERY, HYDERABAD, |
C51654788 |
|
2 |
10551901 |
30/06/2015 * |
3,000,000,000.00 |
ICICI BANK LIMITED |
LAND MARK RACE COURSE CIRCLE, ALKAPURI, BARODA, BARODA, GUJARAT - 390015, INDIA |
C59638833 |
|
3 |
10452981 |
11/09/2013 |
6,870,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN
BUILDING, GROUND FLOOR, 17, R KAMANI MARG, |
B86624814 |
|
4 |
10330930 |
12/11/2012 * |
2,650,000,000.00 |
BANK OF BARODA |
CFS BRANCH, 3-6-262/6, TIRUMALA ESTATES, FIRST FLOOR, HIMAYAT NAGAR, HYDERABAD, ANDHRA PRADESH - 500029, INDIA |
B62068481 |
|
5 |
10276341 |
30/06/2015 * |
1,720,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, 8-2-672, SUFI CHAMBERS, ROAD #1, BANJARA HILLS, HYDERABAD, TELANGANA - 500034, INDIA |
C59915298 |
|
6 |
10276319 |
30/06/2015 * |
1,000,000,000.00 |
SYNDICATE BANK |
NIZAM SHAHI ROAD, OPP KARACHI BACKERY, HYDERABAD, TELANGANA - 500001, INDIA |
C59894402 |
|
7 |
10273173 |
12/11/2012 * |
750,000,000.00 |
UNITED BANK OF INDA |
4-3-331, BANK STREET, HYDERABAD, ANDHRA PRADESH - 500195, INDIA |
B62285085 |
|
8 |
10281379 |
30/06/2015 * |
750,000,000.00 |
ORIENTAL BANK OF COMMERCE |
PLOT NO.1271, ROAD NO.63, JUBILEE HILLS, HYDERABAD, TELANGANA - 500033, INDIA |
C59995944 |
|
9 |
10241636 |
30/06/2015 * |
51,510,000,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI, DELHI - 110003, INDIA |
C59639088 |
*Date of modification Charges
FINANCIAL
PERFORMANCE
The Company is in the process of constructing its 1,320-megawatt thermal power plant and therefore does not have operational income. However, during the year, the Company earned a total income of Rs.459.726 million by way of income earned from short-term deposits with banks. Accounting treatment for this Income from temporary investments has been effected as per relevant accounting standards.
During the year, the Company raised long-term loans from a consortium of lenders amounting to Rs 16220.000 million and buyer's credit of Rs 8429.700 million from DBS Bank Limited, Singapore. The term loans and buyer's credit outstanding as at March 31, 2014 were Rs 35590.000 million (as at March 31, 2013: Rs 19370.000 million) and Rs 23008.200 million (as at March 31, 2013: Rs 14578.500 million) respectively. Total loan as at March 31, 2014 amounts to Rs 58598.200 million.
FIXED ASSETS:
· Land
· Roads
· Building
· Factory building
· Furniture and Fixtures
· Vehicles
· Office equipments
· Electrical installations
· Plant and machinery
· Computers
· Computer software
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.64.01 |
|
|
1 |
Rs.99.19 |
|
Euro |
1 |
Rs.69.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
|
--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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.