MIRA INFORM REPORT
|
Report No. : |
327976 |
|
Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ZF WIND POWER COIMBATORE PRIVATE LIMITED (17.03.2015) |
|
|
|
|
Formerly Known
As : |
ZF WIND POWER COIMBATORE LIMITED (w.e.f. 04.04.2012) HANSEN DRIVES LIMTIED |
|
|
|
|
Registered
Office : |
Plot No. 3, Hi Tech Engineering and Services Sector, SEZ, Annur Road,
Karumathampatty and Kittampalayam, Tamil Nadu – 641659 |
|
Tel. No.: |
91-425-4306000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.12.2006 |
|
|
|
|
Com. Reg. No.: |
18-013294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6995.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28112TZ2006PTC013294 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBH03358F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH8089G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of wind turbine and gearbox. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 320000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The Rating takes into consideration moderate financial risk profile
due to huge accumulated losses recorded by the company and vast external
borrowing. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Bhaskar |
|
Designation : |
Finance Department |
|
Contact No.: |
91-425-4306000 |
|
Date : |
18.06.2015 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. 3, Hi Tech Engineering and Services Sector, SEZ, Annur Road,
Karumathampatty and Kittampalayam, Tamil Nadu – 641659, India |
|
Tel. No.: |
91-425-4306000 |
|
Mobile No.: |
91-9361753442 |
|
Fax No.: |
91-425-4306021 |
|
E-Mail : |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Suresh Kizhakke Variam |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-91 Sreevatsa Gardens, 7/31-A, Mettupalayam Road, Thudi Yalur,
Coimbatore – 641034, Tamilnadu, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.02.1967 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.11.2013 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No. |
AEGPS0343L |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00550459 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jan Willem Ruinemans |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Curacaolaan 19, 1213 VJ. Hilversum, Netherlands - 1213 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.11.1969 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.08.2011 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03506863 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Piyush Jinedra Kumar Munot |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
294, Sindh Housing, Society, Aundh, Pune – 411007, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.05.1978 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.09.2012 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00119507 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Hermann Beck |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Eriskirch Ortsteil, Schlatt, Schubertstrasse 5, Germany |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.06.1954 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.09.2013 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06642856 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Bhaskar |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Sridhar Suryanarayanan |
|
Designation : |
Secretary |
|
Address : |
Flat No. 206, 2nd Floor, Block A, Parsn Keystone Apartments,
Masakalipalayam Road, Upplipalayam, Coimbatore – 641015, Tamilnadu, India |
|
Date of Birth/Age : |
15.08.1968 |
|
Date of Appointment : |
09.08.2013 |
|
PAN No.: |
AEFPS3810P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Shareholders |
No. of Shares |
|
Hansen Drives Pte. Limited, Singapore |
699499994 |
|
Jan Willern Ruinemans Joint / With ZF Wind Power Antwerpen NV, Belgium |
1 |
|
Suresh KV Joint/With ZF Wind Power Antwerpen NV, Belgium |
1 |
|
ZF Wind Power Antwerpen NV, Belgium |
1 |
|
ZF Winf Power (Tianjin) Company Limited, China |
1 |
|
Hansen Drives Limited, Hong Kong |
1 |
|
Piyush Munot J/w ZF Wind Power Antwerpen NV |
1 |
|
Total |
699500000 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2014
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of wind turbine and gearbox. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Divulged |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash, L/C and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
C 401 Fourth Floor, Panchshil Tech Park, Yerwada, Pune - 411006, Maharashtra, India, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiary company : |
U74999PN2007FTC130569 |
CAPITAL STRUCTURE
After As on
25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
Rs.10/- each |
Rs.15000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
699500000 |
Equity Shares |
Rs.10/- each |
Rs.6995.000
Million |
|
|
|
|
|
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
Rs.10/- each |
Rs.15000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
799500000 |
Equity Shares |
Rs.10/- each |
Rs.7995.000
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 |
6995.000 |
6995.000 |
6995.000 |
|
(b) Reserves & Surplus |
(5873.344) |
(5052.217) |
(4276.990) |
|
(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) |
1121.656 |
1942.783 |
2718.010 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3077.643 |
4107.419 |
4595.829 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2853.670 |
0.000 |
1494.874 |
|
(d) long-term provisions |
5.617 |
5.261 |
4.694 |
|
Total
Non-current Liabilities (3) |
5936.930 |
4112.680 |
6095.397 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4692.968 |
4169.345 |
3271.079 |
|
(b) Trade payables |
2349.662 |
4449.349 |
3212.216 |
|
(c) Other current liabilities |
2725.884 |
1841.694 |
1644.350 |
|
(d) Short-term provisions |
0.421 |
0.367 |
0.535 |
|
Total
Current Liabilities (4) |
9768.935 |
10460.755 |
8128.180 |
|
|
|
|
|
|
TOTAL |
16827.521 |
16516.218 |
16941.587 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6742.352 |
7628.467 |
8373.789 |
|
(ii) Intangible Assets |
0.320 |
0.421 |
0.290 |
|
(iii) Capital work-in-progress |
72.964 |
49.811 |
50.726 |
|
(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 |
107.620 |
111.570 |
101.392 |
|
(e) Other Non-current assets |
37.458 |
49.944 |
61.761 |
|
Total
Non-Current Assets |
6960.714 |
7840.213 |
8587.958 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2421.878 |
2890.260 |
3180.269 |
|
(c) Trade receivables |
6212.964 |
5008.221 |
5035.892 |
|
(d) Cash and cash equivalents |
1103.995 |
705.720 |
53.971 |
|
(e) Short-term loans and
advances |
84.185 |
40.327 |
69.467 |
|
(f) Other current assets |
43.785 |
31.477 |
14.030 |
|
Total
Current Assets |
9866.807 |
8676.005 |
8353.629 |
|
|
|
|
|
|
TOTAL |
16827.521 |
16516.218 |
16941.587 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
6055.354 |
3930.875 |
5212.041 |
|
|
Other Income |
14.896 |
16.720 |
13.976 |
|
|
TOTAL
(A) |
6070.250 |
3947.595 |
5226.017 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3368.554 |
2172.285 |
2614.734 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
556.891 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.966) |
85.224 |
(286.734) |
|
|
Employees benefits expense |
272.802 |
271.058 |
225.663 |
|
|
Other expenses |
1272.325 |
389.806 |
561.168 |
|
|
TOTAL
(B) |
4898.715 |
2918.373 |
3671.722 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
1171.535 |
1029.222 |
1554.295 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1021.671 |
821.868 |
1218.573 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
149.864 |
207.354 |
335.722 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
970.991 |
982.580 |
2369.663 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(821.127) |
(775.226) |
(2033.941) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(821.127) |
(775.226) |
(2033.941) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3971.630 |
3203.710 |
45714.650 |
|
|
TOTAL
EARNINGS |
3971.630 |
3203.710 |
45714.650 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(1.17) |
(1.11) |
(1.11) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1614.063 |
874.407 |
568.006 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(13.56) |
(19.72) |
(39.02) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.35 |
26.18 |
29.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.90) |
(4.71) |
(12.04) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.73) |
(0.40) |
(0.75) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.37 |
4.71 |
3.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
0.83 |
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 |
6995.000 |
6995.000 |
6995.000 |
|
Reserves & Surplus |
(4276.990) |
(5052.217) |
(5873.344) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2718.010 |
1942.783 |
1121.656 |
|
|
|
|
|
|
long-term borrowings |
4595.829 |
4107.419 |
3077.643 |
|
Short term borrowings |
3271.079 |
4169.345 |
4692.968 |
|
Current Maturities of
Long-Term Debts |
568.006 |
874.407 |
1614.063 |
|
Total
borrowings |
8434.914 |
9151.171 |
9384.674 |
|
Debt/Equity
ratio |
3.103 |
4.710 |
8.367 |
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 |
5212.041 |
3930.875 |
6055.354 |
|
|
|
(24.581) |
54.046 |
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 |
5212.041 |
3930.875 |
6055.354 |
|
Profit |
(2033.941) |
(775.226) |
(821.127) |
|
|
(39.02%) |
(19.72%) |
(13.56%) |
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 |
Yes |
|
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 |
No |
|
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 |
No |
|
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 Plot No.3, Suzlon Infrastructure Limited-SEZ, Annur Road,
Karumathampatty and Kittampalayam – 641659, Tamil Nadu India to the present address w.e.f. 01.12.2009
FINANCIAL RESULTS :
During the year, the Company has earned sales income of Rs. 6055.35 Million (Previous year Rs. 3,930.87 Million) and other income Rs. 14.89 Million (Previous year Rs.16.72 Million). After providing for depreciation, finance charges and deferred tax the Company has incurred Net Loss of Rs. 821.13 Million (Previous year Rs.775.22 Million).
BUSINESS REVIEW:
During the year, there was a 53% increase in the sales primarily on account of the increase in the volumes in the Wind Energy Business. Based on the market reports available with the Company and the report published by the Global Wind Energy Council, the Directors are of the view that the outlook for the Wind Energy Sector is bright and consequently, expect a significant increase in the volume of business and increased market share as well.
The Directors are hopeful of better performance of the Company in the years to come.
UNSECURED LOAN
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures intercorporate |
1000.000 |
1000.000 |
|
Term loan from Banks |
2077.643 |
3107.419 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Working Capital loan from banks |
3800.000 |
1650.000 |
|
Loans repayable on demand |
589.436 |
2519.345 |
|
Other loans and advances |
303.532 |
0.000 |
|
Total |
7770.611 |
8276.764 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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.63.66 |
|
|
1 |
Rs.100.50 |
|
Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.