MIRA INFORM REPORT
|
Report No. : |
352137 |
|
Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
TALWANDI SABO POWER LIMITED |
|
|
|
|
Registered
Office : |
Talwandi Sabo Power Limited, Village Banwala, Mansa – Talwandi Sabo Road,
Mansa – 151302, Punjab |
|
Tel. No.: |
91-22-66461000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.04.2007 |
|
|
|
|
Com. Reg. No.: |
16-031035 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 25000.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40101PB2007SGC031035 |
|
|
|
|
IEC No.: |
3009014546 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT6775G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject builds, owns, and operates coal based thermal power plant with 1980 (3x660) MW capacity in Punjab. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
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 68900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Sesa Sterlite Limited” and a part of
Vedanta Group. It is an established company incorporated in the year 2007
having moderate track record. Management has recently commenced its commercial operations and has
achieved a decent turnover of Rs. 4960.000 Million as on 31st
March 2015 however, incurred a loss. The rating further remains constrained since subject is a part of
“Vedanta group” as the group facing difficulties. Moreover, the rating weakness is partially offset by company’s strong
capital base. Trade relations are reported as fair. Business is active. Payment
terms are reported as slow. In view of the aforesaid, the subject can be considered for business
dealings with slight 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 |
CRISIL RATING |
|
Rating |
Long Term Rating = AA (SO) |
|
Rating Explanation |
High degree of safety and carry low credit risk |
|
Date |
August 2015 |
|
Rating Agency Name |
CRISIL RATING |
|
Rating |
Short Term Rating = A1 (SO) |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
August 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED
Management non co-operative (Tel. No.: 91-22-66461000)
LOCATIONS
|
Registered Office : |
Talwandi Sabo Power Limited, Village Banwala, Mansa – Talwandi Sabo
Road, Mansa – 151302, Punjab, India |
|
Tel. No.: |
91-22-66461000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Sushil Kumar Roongta |
|
Designation : |
Director |
|
Address : |
D - 91, DLF Pinnacle, DLF Phase - V,, Opposite DLF Golf Course, Gurgaon - 122009, Haryana, India |
|
Date of Birth/Age : |
09.05.1950 |
|
Date of Appointment : |
19.01.2012 |
|
DIN No.: |
00309302 |
|
|
|
|
Name : |
Gurminder Singh Kang |
|
Designation : |
Director |
|
Address : |
H.No.100, Sector7, Panchkula - 134109, Haryana, India |
|
Date of Birth/Age : |
10.09.1946 |
|
Date of Appointment : |
20.07.2011 |
|
DIN No.: |
02818868 |
|
|
|
|
Name : |
Mansoor Siddiqi |
|
Designation : |
Director |
|
Address : |
103, Building No.12, Indra Darshan- II, Oshiwara, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1953 |
|
Date of Appointment : |
22.04.2011 |
|
DIN No.: |
01256089 |
|
|
|
|
Name : |
Mala Arun Todarwal |
|
Designation : |
Director |
|
Address : |
81 Shivner, 84 Nepean Sea Road, Malbar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
06933515 |
|
|
|
|
Name : |
Pooja Somani |
|
Designation : |
Director |
|
Address : |
Flat No. 1805, Silver Oak, Raheja Willows, Aakurli Road, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07131449 |
KEY EXECUTIVES
|
Name : |
Amit Agarwal |
|
Designation : |
CFO |
|
Address : |
H.No.115, Model Town, Phase III, Bathinda - 151001, Punjab, India |
|
Date of Appointment : |
15.01.2015 |
|
PAN No: |
ADNPA4539N |
|
|
|
|
Name : |
Pankaj Chauhan |
|
Designation : |
Secretary |
|
Address : |
H. NO. 1494, Model Town, Phase III, Bhatinda, Punjab - 141001, India |
|
Date of Appointment : |
29.12.2011 |
|
PAN No: |
AHAPC5815C |
|
|
|
|
Name : |
Chetan Shrivastav |
|
Designation : |
Manager |
|
Address : |
H. No. 691, Model Town, Phase III, Bathinda - 151001, Punjab, India |
|
Date of Appointment : |
15.01.2015 |
|
PAN No: |
AWHPS9124L |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sterlite Energy Limited (Now, Sesa Sterlite Limited) |
|
7500 |
|
Sterlite Energy Limited (Now, Sesa Sterlite Limited) |
|
7500 |
|
Sterlite Energy Limited (Now, Sesa Sterlite Limited) |
|
7000 |
|
Sterlite Energy Limited (Now, Sesa Sterlite Limited) |
|
7000 |
|
Sterlite Energy Limited (Now, Sesa Sterlite Limited) |
|
7000 |
|
Sterlite Energy Limited (Now, Sesa Sterlite Limited) |
|
7000 |
|
Sterlite Energy Limited (Now, Sesa Sterlite Limited) |
|
6994 |
|
Mr. Tarun Jain jointly with Mr. Anup Agarwal |
|
1 |
|
Mr. Mansoor Siddiqi jointly with Mr. Anand Gupta |
|
1 |
|
Mr. Mahendra Singh Mehta jointly with Mr. Viral Mehta |
|
1 |
|
Mr. Dindayal Jalan jointly with Mr. Joseph J.M. Peeris |
|
1 |
|
Mr. V. Ramanathan jointly with Mr. Ajay Kumar |
|
1 |
|
Mr. S. K. Roongta jointly with Mr. Chetan Shrivastav |
|
1 |
|
Sterlite Energy Limited |
|
400000000 |
|
Sesa Sterlite Limited |
|
2099950000 |
|
|
|
|
|
Total |
|
2500000000 |
AS ON 11.11.2014
|
Names of Allottees |
|
No. of Shares |
|
Yes Bank Limited, India |
|
1000 |
|
HDFC Trustee Company Limited |
|
500 |
|
HDFC Trustee Company Limited |
|
250 |
|
Sundaram Select Debt Short Term Plan |
|
250 |
|
|
|
|
|
Total |
|
2000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject builds, owns, and operates coal based thermal power plant with 1980 (3x660) MW capacity in Punjab. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Jitendra Agarwal Chartered Accountant |
|
Address : |
Indiabulls Finance Centre, Tower-3, 27th - 32nd Floor , Senapati Bapat Marg , Elphinstone Road (West), Mumbai - 400013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Fellow Subsidiary
Company : |
|
|
|
|
|
Holding Company : |
|
|
|
|
CAPITAL STRUCTURE
AFTER 26.09.2014
Authorised Capital: Rs. 40000.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 32066.097
Million
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000000 |
Equity Shares |
Rs.10/- each |
Rs. 25000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000000 |
Equity Shares |
Rs.10/- each |
Rs.
25000.000 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 |
25000.000 |
4000.500 |
4000.500 |
|
(b) Reserves & Surplus |
(865.329) |
(396.450) |
(95.151) |
|
(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) |
24134.671 |
3604.050 |
3905.349 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15050.892 |
32359.638 |
27862.147 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
6019.477 |
6932.093 |
2635.333 |
|
(d) long-term
provisions |
4.538 |
3.562 |
1.182 |
|
Total Non-current
Liabilities (3) |
21074.907 |
39295.293 |
30498.662 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
17594.267 |
22160.014 |
10011.536 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
38386.567 |
16046.384 |
2832.302 |
|
(d) Short-term
provisions |
1.075 |
0.240 |
0.098 |
|
Total Current Liabilities
(4) |
55981.909 |
38206.638 |
12843.936 |
|
|
|
|
|
|
TOTAL |
101191.487 |
81105.981 |
47247.947 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3879.967 |
34.688 |
32.988 |
|
(ii)
Intangible Assets |
12.518 |
18.087 |
0.000 |
|
(iii)
Capital work-in-progress |
94905.864 |
74464.530 |
25965.380 |
|
(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 |
1168.060 |
6507.940 |
20979.504 |
|
(e) Other
Non-current assets |
26.328 |
0.126 |
0.126 |
|
Total Non-Current
Assets |
99992.737 |
81025.371 |
46977.998 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
217.096 |
19.691 |
8.612 |
|
(b)
Inventories |
68.700 |
0.000 |
0.000 |
|
(c) Trade
receivables |
1.955 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
2.519 |
9.018 |
238.490 |
|
(e)
Short-term loans and advances |
692.290 |
51.838 |
22.845 |
|
(f) Other
current assets |
216.190 |
0.063 |
0.002 |
|
Total
Current Assets |
1198.750 |
80.610 |
269.949 |
|
|
|
|
|
|
TOTAL |
101191.487 |
81105.981 |
47247.947 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits expense |
0.000 |
0.000 |
0.000 |
|
|
Other expenses |
468.879 |
301.299 |
75.027 |
|
|
TOTAL |
468.879 |
301.299 |
75.027 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(468.879) |
(301.299) |
(75.027) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(468.879) |
(301.299) |
(75.027) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(468.879) |
(301.299) |
(75.027) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(468.879) |
(301.299) |
(75.027) |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.18) |
(0.12) |
(0.03) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.46) |
(4.54) |
(0.35) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
(0.08) |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.35 |
15.13 |
9.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.02 |
0.00 |
0.02 |
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 |
4000.500 |
4000.500 |
25000.000 |
|
Reserves & Surplus |
(95.151) |
(396.450) |
(865.329) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3905.349 |
3604.050 |
24134.671 |
|
|
|
|
|
|
long-term borrowings |
27862.147 |
32359.638 |
15050.892 |
|
Short term borrowings |
10011.536 |
22160.014 |
17594.267 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
37873.683 |
54519.652 |
32645.159 |
|
Debt/Equity
ratio |
9.698 |
15.127 |
1.353 |
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others |
3936.556 |
18600.000 |
|
Rupee term loans from banks |
4372.370 |
3560.014 |
|
Commercial paper |
6400.000 |
0.000 |
|
|
|
|
|
Total |
14708.926 |
22160.014 |
|
|
|
|
FINANCIAL PERORMANCE
The Company is in the process of implementing the 1980 MW Independent Power Plant. The Company does not have any operational income.
By the end of the financial year the Company has spent almost Rs.81250.000 million on the project. The amount mainly represents payment towards offshore supplies, milestone based construction payments, construction of railway connectivity, other support infrastructure construction, salaries and general administrative expenses and Finance cost etc.
INDUSTRY OUTLOOK
An economy's growth, development, ability to handle global competition is all dependent on the availability, reliability and quality of the power sector. As the Indian economy continues to surge ahead, electrification and electricity services have been expanding concurrently to support the growth rate. The demand for power is growing exponentially and the scope of growth of this sector is immense.
India's electricity generation capacity has been increasing continuously to meet the needs of the rapidly growing economic activity of the country. Total installed capacity of electricity generation has expanded from 105.04 MW in 2002 to 237.742 MW at the end of Feb 2014. Approx. 68% of this capacity is contributed by thermal power stations.
The government undertook the reform process in the power sector in 1990’s which was followed by various initiatives paving way for private companies to emerge as a key contributor to the sector. This is established from the fact that as at end of Feb 2014, 33% of installed capacity in power generation is contributed by private players.
However, the recent past saw the power sector struggling due to a political logjam in the country and various upcoming projects were struggling due to policy paralysis. As per research done by a Fitch group company the past three years (FY11-FY13) were the worst for the sector due to the weak financial health of state utilities on account of tariffs that did not reflect cost, reliance on short-term power that is usually costlier, high aggregate technical and commercial losses and delayed receipts of subsidy and availability of domestic coal.
However, some recent initiatives by government agencies and power regulators in the country have given a breath of fresh air to the sector. These include initiatives taken to improve coal availability for power plants through Presidential directive issued to Coal India to sign fuel supply agreements (FSAs) with power producers, fast-tracking mine clearances and action against non-serious captive coal block developers.
The risk of fuel prices is likely to become manageable for utilities after the government allowed them to pass on higher costs of imported coal to customers. Power regulators have contributed in their own way by allowing compensatory tariff to two of country’s biggest UMPPs. State discoms are also on the way to improved financial health owing to finalization of FRP (financial restructuring plan) and tariff hikes by state Governments.
The outlook of the sector in the long run remains positive because of the growing demand-supply gap and the low per capital consumption of electricity in India as compared to the world average. The Company is ideally placed to be reap the benefits of these initiatives and be a key player in State of Punjab.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10591321 |
13/08/2015 |
7,500,000,000.00 |
State Bank of India |
Corporate Accounts
Group Branch, Neville House, J |
C64384357 |
|
2 |
10579368 |
24/04/2015 |
10,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA |
C57959447 |
|
3 |
10557462 |
12/06/2015 * |
5,000,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block,
Bandra Kurla Complex, Bandr |
C58789421 |
|
4 |
10542125 |
10/01/2015 * |
5,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA |
C42593707 |
|
5 |
10486975 |
11/08/2015 * |
5,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, Guj |
C61889036 |
|
6 |
10463403 |
12/11/2013 |
2,500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B90447392 |
|
7 |
10268427 |
24/09/2012 * |
7,500,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA |
B58744186 |
|
8 |
10268426 |
24/09/2012 * |
7,500,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA |
B58744715 |
|
9 |
10236413 |
11/08/2015 * |
10,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, Guj |
C61889861 |
* Date of charge modification
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST MARCH 2015
(Rs. in million)
|
Sr. No. |
Particulars |
6 Months Ended |
|
31.03.2015 |
||
|
Audited |
||
|
Part I |
|
|
|
1. |
Income from Operations |
|
|
|
a) Net Sales / Income
from Operations |
4965.677 |
|
|
b) Other Operating Income |
-- |
|
|
Total Income from
Operations (net) |
4965.677 |
|
2. |
Expenditure |
|
|
|
a) Cost of materials
consumed |
3315.477 |
|
|
b) Purchase of
stock-in-trade |
-- |
|
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
-- |
|
|
d) Employee benefits
expense |
83.996 |
|
|
e) Depreciation and
amortisation expense |
519.902 |
|
|
f) Power and Fuel Charges |
|
|
|
g) Other expenses - Exchange Difference
(Gain)/ Loss - Others |
384.777 199.291 |
|
|
Total Expenses |
4503.443 |
|
3. |
Profit/ (Loss) from Operations before Other Income,
Exchange gain/(loss), Finance costs and Exceptional items (1-2) |
462.234 |
|
4. |
Other Income |
0.394 |
|
5. |
Profit /(Loss) from Ordinary activities before finance costs and
Exceptional items (3+4a+4b) |
462.628 |
|
6. |
Finance
Costs |
848.640 |
|
7. |
Profit
/ (Loss) from ordinary activities after Finance costs but before Exceptional
items (5-6) |
(386.012) |
|
8. |
Exceptional
items |
--- |
|
9. |
Profit/
(Loss) from ordinary activities before tax (7+8) |
(386.012) |
|
10. |
Tax
expenses |
--- |
|
11. |
Net
Profit / (Loss) from ordinary activities after tax (9-10) |
(386.012) |
|
12. |
Extraordinary items |
-- |
|
13. |
Net Profit / (Loss) for the period (11+12) |
(386.012) |
|
14. |
Paid-up equity share
capital (Face Value of Rs. 10 per share) |
32066.097 |
|
15. |
Paid-up debt capital |
23250.000 |
|
16. |
Reserve excluding
Revaluation reserve |
(1251.352) |
|
17. |
Earnings Per Share (EPS)
before and after extraordinary items (of Rs. 10/- each) a) Basic b) Diluted |
(0.14) (0.14) |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- 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, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.75 |
|
UK Pound |
1 |
Rs. 100.68 |
|
Euro |
1 |
Rs. 70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
--- |
|
--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.