MIRA INFORM REPORT
|
Report No. : |
349262 |
|
Report Date : |
07.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ESSAR POWER LIMITED |
|
|
|
|
Registered
Office : |
27th KM, Surat Hazira Road, Hazira, Surat - 394270, Gujarat
|
|
Tel. No.: |
91-261-2872400 / 6682055 / 6682400 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.10.1991 |
|
|
|
|
Com. Reg. No.: |
04-064824 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 55574.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100GJ1991PLC064824 |
|
|
|
|
IEC No.: |
0891020543 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTE00047F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE0895J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Generators and Suppliers of
Gas, Coal and Liquid Fuel Based Power. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Essar Power Holdings Limited’ (Mauritius). It is a manufacturer and importer of generators and suppliers of gas, coal and liquid fuel based power. For the financial year ended 2014, company possesses moderate operational performance and it has incurred losses from its operational activities. Rating reflects significant deterioration in credit profile and liquidity of the company depicted by increasing overall gearing level, delays in ongoing projects along with considerable cost overrun, lower than expected cash flow from operational projects and piling up of receivables due to weakening of credit profile of one of the major customers - Essar Steel India Limited. Rating also takes into account of weak financial profile of one Essar group entity ‘Essar Steel India limited’. Essar Steel has been classified as an NPA (non-performing asset) by HDFC Bank Limited and Bank of India. Moreover, Essar Group has raised external commercial borrowings amounting to USD 1500 Million, of which USD 1000 million has been used for refinancing of existing loans. Payments are reported to be slow. In view of weak group profile, the company can be
considered for business dealings with great cautions. |
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 [Suspended] |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
16.02.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 [Suspended] |
|
Rating Explanation |
Moderate degree of safety and high credit
risk |
|
Date |
16.02.2015 |
Reason for suspension : Absence of requisite
information.
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.
LOCATIONS
|
Registered Office/ Factory: |
27th KM, Surat Hazira Road, Hazira, Surat - 394270,
Gujarat, India |
|
Tel. No.: |
91-261-2872400 / 6682055 / 6682400 |
|
Fax No.: |
91-261-2872747 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. Ft |
|
Location: |
Owned |
|
|
|
|
Corporate Office/ Head Office : |
11, Kesavarao Khadye Marg, Mahalaxmi Essar House, 14th
Floor, Mumbai – 400034, Maharashtra, India |
|
Tel. No.: |
91-22-24395066/ 66601100/ 24950606/ 40011100 |
|
Fax No.: |
91-22-24954331/ 24954787/ 66604787/ 23544787 |
|
E-Mail : |
|
|
Area : |
Owned |
|
|
|
|
Branch Office 1 : |
Equinox Business Park (Peninsula Techno Park), Off Bandra
Kurla Complex, |
|
|
|
|
Branch Office 2
: |
Located at:
|
|
|
|
|
Overseas Office:
|
Located at:
|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Kalakota Vijaya Bhaskara Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
3702-C Lodha Bellissimo Apollo Compound, N M Joshi Marg, Mahalaxmi, Mumbai - 400 011, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1961 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
01683467 |
|
|
|
|
Name : |
Mr. Manmohan Agrawal |
|
Designation : |
Director |
|
Address : |
Flat No. 1205, Tower I “C” Wing, Ashoka Garden, Next to Dosti Flamingo, Sewree, Mumbai - 400015, Maharashtra, India |
|
Date of Birth/Age : |
04.08.1950 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
00681433 |
|
|
|
|
Name : |
Mr. Joy Kumar Jain |
|
Designation : |
Director |
|
Address : |
12 Moulsari Avenue, Dlf City, Phase 3, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
15.07.1964 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
06406359 |
|
Name : |
Mr. Sushil Kumar Maroo |
|
Designation : |
Managing Director and Chief Executive Officer |
|
Address : |
F-1/2, Vasant Vihar, Near Gurdwara, New Delhi - 110057, India |
|
Date of Birth/Age : |
05.07.1961 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
00054101 |
|
Name : |
Mr. Sudip Rungta |
|
Designation : |
Additional director |
|
Address : |
Flat no. 3001 Aqua , Planet Godrej, 30 Keshav Rao Khedye Marg, Mahalaxmi, Mumbai - 400011, Maharashtra, India |
|
Date of Appointment : |
12.11.2014 |
|
DIN No.: |
03146989 |
|
|
|
|
Name : |
Ms. Gayathri Sukumar |
|
Designation : |
Additional director |
|
Address : |
1/205, Viman Darshan, Sahar Road, Andheri East, Mumbai - 400069, Maharashtra, India |
|
Date of Appointment : |
11.03.2015 |
|
DIN No.: |
07115908 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjyot Nilesh Rangnekar |
|
Designation : |
Secretary |
|
Address : |
B 202 Rustomjee Astraea, Near Lodha Paradise, Majiwada, Thane - 400601, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1970 |
|
Date of Appointment : |
19.05.2007 |
|
PAN No.: |
AANPR5686C |
|
Name : |
Mr. Rajendra Kumar Sethi |
|
Designation : |
Chief Financial Officer |
|
Address : |
B-6, Ganga Jyoti, Bangur Nagar, Goregaon (West), Mumbai - 400104, Maharashtra, India |
|
Date of Appointment : |
09.07.2015 |
|
PAN No.: |
AANPS5779H |
|
Name : |
Mr. Sushil Kumar Maroo |
|
Designation : |
Chief Executive Officer |
|
Address : |
F-1/2, Vasant Vihar, Near Gurdwara, New Delhi - 110057, India |
|
Date of Appointment : |
23.09.2014 |
|
PAN No.: |
ADLPM7746H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Essar Power Holdings Limited, Mauritius |
|
311592112 |
|
Essar Power Hazira Holdings Limited, India |
|
311592113 |
|
Essar Steel India Limited, India
|
|
219000000 |
|
Imperial Consultants and Securities Private
Limited, India |
|
3 |
|
Imperial Consultants and Securities Private Limited Jointly With Shri
N B Was |
|
1 |
|
Imperial Consultants and Securities Private Limited Jointly With Shri
Anirudh Bohra |
|
2 |
|
Imperial Consultants and Securities Private Limited Jointly With Shri
Suresh Sundaram |
|
1 |
|
|
|
|
|
Total |
|
842184232 |
|
Names of Preference Shareholders 1 |
|
No. of Shares |
|
Essar Power Holdings Limited, Mauritius |
|
1220411556 |
|
Essar Power Hazira Holdings Limited, India |
|
1217749003 |
|
Total |
|
2438160559 |
|
Names of Preference Shareholders 2 |
|
No. of Shares |
|
Imperial Consultants and Securities Private
Limited, India |
|
512500000 |
|
IDFC Trustee Company Limited A/C India Infrastructure Fund,
India |
|
350000000 |
|
Total |
|
862500000 |
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 |
74.00 |
|
Bodies corporate |
26.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Generators and Suppliers of
Gas, Coal and Liquid Fuel Based Power. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
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|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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|
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|
Bankers : |
· Yes Bank Limited, Nehru Centre, 9th Floor, Discovery of India, Dr. A.B. Road, Worli, Mumbai - 400018, Maharashtra, India · Dena Bank, Industrial Finance Branch, Maxer Towers , Cuffe Parade, Mumbai - 400005, Maharashtra, India · Bank of India, Mahalaxmi Branch, Mahalaxmi, Mumbai - 400034, Maharashtra, India · Indian Overseas Bank, Bakhtawar Building,Nariman Point, Mumbai - 400021, Maharashtra, India · ICICI Limited, C-23, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India · Canara Bank, Mittal Tower, Nariman Point, Mumbai - 400021, Maharashtra, India · Jammu And Kashmir Bank Limited, (Corporate Headquarters), M.A. Road, Srinagar, Kashmir, Jammu And Kashmir - 190001, India · Axis Bank Limited, Universal Insurance Building, Sir P M Road, Fort, Mumbai - 400001, Maharashtra, India · HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · Union Bank of India, Nariman Point, Mumbai - 400021, Maharashtra, India · State Bank of India, Corporate Accounts Group Branch, Voltas House, 23 J N Heredia Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institutions:
|
· Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India · Infrastructure Development Finance Company Limited, Ramon House, Mumbai - 400020, Maharashtra, India · IDBI Trusteeship Services Limited |
|
|
|
|
Auditors : |
|
|
Name : |
M. M. Chaturvedi and Company Chartered Accountants |
|
Address : |
24, Atlanta, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22824220 / 22835128 |
|
Fax No.: |
91-22-22872329 |
|
Email : |
|
|
PAN No.: |
AAAFM1506D |
|
|
|
|
Holding Company : |
Essar Power Holdings Limited (Mauritius) |
|
|
|
|
Subsidiaries : |
CIN No.: U31101GJ1995PLC065146
CIN No.: U40100GJ1997PLC033108
CIN No.: U40100DL2005PLC201961
CIN No.: U74900GJ2007PLC066273
CIN No.: U31101DL2005PLC211274
CIN No.: U99999DL2005PLC208864
CIN No.: U31101DL2005PLC208862
CIN No.: U40300GJ2006PLC063146
CIN No.: U40300GJ2009PLC062729
CIN No.: U40100MH1997PLC110104
CIN No.: U40109DL2005PTC231302
CIN No.: U40109GJ2011PLC063806
|
|
|
|
|
Joint Ventures : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25,000,000,000 |
Equity Shares |
Rs.4/- each |
Rs.100000.000 Million |
|
4750,000,000 |
Preference Shares 1 |
Rs.20/- each |
Rs.95000.000 Million |
|
500,000,000 |
Preference Shares 2 |
Rs.10/- each |
Rs.5000.000 Million |
|
|
Total |
|
Rs.200000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
842,184,232 |
Equity Shares |
Rs.4/- each |
Rs.3368.737 Million |
|
2,438,160,559 |
0.01% Compulsorily Convertible Preference Shares |
Rs.20/- each |
Rs.48763.211 Million |
|
350,000,000 |
Preference Shares 1 |
Rs.10/- each |
Rs.3500.000 Million |
|
512,500,000 |
Preference Shares 2 |
Rs.20/- each |
Rs.10250.000 Million |
|
|
Total |
|
Rs.65881.948
Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000000 |
Equity Shares |
Rs.4/- each |
Rs.100000.000 Million |
|
4750000000 |
Preference Shares 1 |
Rs.20/- each |
Rs.95000.000 Million |
|
500000000 |
Preference Shares 2 |
Rs.10/- each |
Rs.5000.000 Million |
|
|
Total |
|
Rs.200000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
842184232 |
Equity Shares |
Rs.4/- each |
Rs.3368.700 Million |
|
2435280799 |
Preference Shares 1 |
Rs.20/- each |
Rs.48705.600 Million |
|
350000000 |
Preference Shares 2 |
Rs.10/- each |
Rs.3500.000 Million |
|
|
Total |
|
Rs.55574.300
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 |
55574.300 |
53990.800 |
52956.100 |
|
(b) Reserves & Surplus |
28420.600 |
28194.700 |
27709.900 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
86.400 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
84081.300 |
82185.500 |
80666.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33313.300 |
4315.000 |
4400.000 |
|
(b) Deferred tax liabilities (Net) |
1085.000 |
1491.700 |
1804.500 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
24.900 |
30.500 |
45.200 |
|
Total Non-current
Liabilities (3) |
34423.200 |
5837.200 |
6249.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
28402.400 |
8347.200 |
1303.100 |
|
(b) Trade
payables |
234.400 |
465.100 |
634.200 |
|
(c) Other
current liabilities |
3122.800 |
3018.200 |
990.900 |
|
(d) Short-term
provisions |
1094.200 |
1146.100 |
453.000 |
|
Total Current
Liabilities (4) |
32853.800 |
12976.600 |
3381.200 |
|
|
|
|
|
|
TOTAL |
151358.300 |
100999.300 |
90,296.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3752.100 |
5041.800 |
6346.500 |
|
(ii)
Intangible Assets |
0.200 |
0.600 |
0.900 |
|
(iii)
Capital work-in-progress |
82.3000 |
177.800 |
199.700 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
79818.800 |
74188.200 |
69385.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
33233.200 |
1825.400 |
1658.700 |
|
(e) Other
Non-current assets |
1361.200 |
87.100 |
47.300 |
|
Total Non-Current
Assets |
118247.800 |
81320.900 |
77638.300 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
6850.000 |
57.200 |
62.000 |
|
(b)
Inventories |
900.600 |
851.600 |
813.400 |
|
(c) Trade
receivables |
13146.500 |
13946.900 |
11309.800 |
|
(d) Cash
and cash equivalents |
807.900 |
108.000 |
136.900 |
|
(e) Short-term
loans and advances |
10103.100 |
4448.000 |
331.300 |
|
(f) Other
current assets |
1302.400 |
266.700 |
5.200 |
|
Total
Current Assets |
33110.500 |
19678.400 |
12658.600 |
|
|
|
|
|
|
TOTAL |
151358.300 |
100999.300 |
90296.900 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3437.000 |
5310.400 |
7503.000 |
|
|
|
Other Income |
3246.400 |
323.000 |
365.900 |
|
|
|
TOTAL (A) |
6683.400 |
5633.400 |
7868.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Fuel |
0.000 |
1802.700 |
3530.500 |
|
|
|
Expenditure for Construction Contract |
38.500 |
14.600 |
9.700 |
|
|
|
Employees Benefits Expenses |
295.000 |
306.800 |
329.900 |
|
|
|
Other expenses |
208.700 |
375.300 |
516.100 |
|
|
|
TOTAL (B) |
542.200 |
2499.400 |
4386.200 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6141.200 |
3134.000 |
3482.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5194.400 |
1389.000 |
1078.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
946.800 |
1745.000 |
2404.100 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1292.700 |
1292.300 |
1288.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(345.900) |
452.700 |
1115.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(89.700) |
159.900 |
(164.400) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
(256.200) |
292.800 |
1279.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
28.100 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.70) |
(0.05) |
1.14 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term borrowings |
890.300 |
2185.000 |
NA
|
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
(7.45) |
5.51 |
17.06 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
178.68 |
59.02 |
46.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.48) |
1.70 |
5.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.73 |
0.15 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
1.52 |
3.74 |
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 |
52956.100 |
53990.800 |
55574.300 |
|
Reserves & Surplus |
27709.900 |
28194.700 |
28420.600 |
|
Net worth |
80666.000 |
82185.500 |
83994.900 |
|
|
|
|
|
|
long-term borrowings |
4400.000 |
4315.000 |
33313.300 |
|
Short term borrowings |
1303.100 |
8347.200 |
28402.400 |
|
Total borrowings |
5703.100 |
12662.200 |
61715.700 |
|
Debt/Equity ratio |
0.071 |
0.154 |
0.735 |
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
|
7503.000 |
5310.400 |
3437.000 |
|
|
|
(29.223) |
(35.278) |
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 |
7503.000 |
5310.400 |
3437.000 |
|
Profit/ Loss |
1279.800 |
292.800 |
(256.200) |
|
|
17.06% |
5.51% |
(7.45%) |
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 |
No |
|
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 |
Note :
The registered office of the company has been shifted from Essar House, 11-Keshavrao Khade Marg, Mahalaxmi, Mumbai – 400034, Maharashtra, India to the present address w.e.f. 08.03.2011.
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from others |
673.300 |
465.000 |
|
Short-term
borrowings |
|
|
|
Inter corporate deposit |
27191.000 |
4814.800 |
|
From related parties |
0.000 |
203.700 |
|
Total |
27864.300 |
5483.500 |
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10593835 |
29/09/2015 |
1,800,000,000.00 |
IDFC LIMITED |
KRM TOWER, 8TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI - 600031, TAMILNADU, INDIA |
C65562548 |
|
2 |
10571413 |
29/04/2015 |
10,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, |
C54326814 |
|
3 |
10559613 |
31/03/2015 |
570,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA |
C49302086 |
|
4 |
10559157 |
27/03/2015 |
1,140,000,000.00 |
IDFC LIMITED |
KRM TOWER, 8TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI 600031, TAMILNADU, INDIA |
C49116395 |
|
5 |
10547457 |
23/12/2014 |
1,573,800,000.00 |
IDFC LIMITED |
KRM TOWER, 8TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI 600031, TAMILNADU, INDIA |
C42692277 |
|
6 |
10531547 |
28/10/2014 |
9,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA |
C33763210 |
|
7 |
10559637 |
26/09/2014 |
850,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA |
C49313174 |
|
8 |
10521278 |
05/02/2015 * |
57,040,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA |
C64889199 |
|
9 |
10520498 |
05/08/2014 |
44,650,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA |
C21094842 |
|
10 |
10462205 |
28/09/2013 |
7,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B87415113 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.65.79 |
|
|
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.