MIRA INFORM REPORT
|
Report No. : |
344794 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DOSHION WATER SOLUTION PRIVATE LIMITED (w.e.f 22.08.2015) |
|
|
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|
Formerly Known
As : |
DOSHION VEOLIA WATER SOLUTIONS PRIVATE
LIMITED (w.e.f.15.05.2008) DOSHION WATER SOLUTIONS PRIVATE LIMITED |
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|
Registered
Office : |
Office No. 3, 2nd Floor, “A” Wing, Godraj Colliseum, Eastern Express Highway, Behind Everad Nagar, Sion (East) Mumbai – 400022, Maharashtra |
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Tel. No.: |
91-79-61600600 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.08.2007 |
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Com. Reg. No.: |
11-173486 |
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Capital
Investment / Paid-up Capital : |
Rs. 144.880 Million |
|
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|
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CIN No.: [Company Identification
No.] |
U41000MH2007PTC173486 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD16188E |
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PAN No.: [Permanent Account No.] |
AACCD8958M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is in the business of the executing small, medium and large size Engineering, Procurement and Construction (EPC) Projects for Water and Waste Water Management facilities in Municipal, Infrastructural and Industrial Projects and provides integrated solutions in the water management services. |
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|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject is 70:30 joint venture (JV) between Doshion Private Limited,
India and Veolia Water Solutions and Technology, France. It is an established company incorporated in the year 2007 having a
moderate track record. Turnover of the company has continuously declined which has further
resulted into continuous losses incurred by the company. Further, the rating takes into consideration company exposure to
intense competition and cyclicality in the water management business. Business is active. Payment terms are reported to be slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long/ Short term rating = (D) |
|
Rating Explanation |
The company is in default or expected to be in default soon |
|
Date |
24.03.2015 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE
(TEL. NO.:91-79-61600600)
LOCATIONS
|
Registered Office: |
Office No. 3, II Floor, “A” Wing, Godraj Colliseum, Eastern Express Highway, Behind Everad Nagar, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Tel. No.: |
91-79-61600600 |
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Fax No.: |
91-22-24072611 |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No. 24, Phase II, GIDC, Vatva, Ahmedabad - 382 445, Gujarat,
India |
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Tel. No.: |
91-79-61600600 |
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Fax No.: |
91-79-61600602 |
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E-Mail : |
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Factory 1 : |
Chemicals Plant Plot No. 25, 26, Phase II, GIDC, Vatva, Ahmedabad – 382445, Gujarat, India |
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Tel. No.: |
91-79-25832661/ 25890848 |
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E-Mail : |
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Factory 2 : |
Plot No. 89 and 103, Road No. B/8, Phase-1, GIDC Estate, Kathwada, Ahmedabad - 382420, Gujarat, India |
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Tel. No.: |
91-79-32508480 |
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E-Mail : |
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Factory 3 : |
Shed No. 284 (A-II Type), Plot No. 5D, Sector 3, Kandla Special Economic Zone, Gandhidham, Kutch, Gujarat, India |
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Tel. No.: |
91-2836-321434 |
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E-Mail : |
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Factory 4 : |
Shri Ambica Estate, Plot No. A 65 to A 70, By-pass Road, Aslali, Ahmedabad - 382427, Gujarat, india |
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E-Mail : |
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Factory 5 : |
Plot No. 107 to 112, Phase I, GIDC Estate, Kathwada, Ahmedabad - 382420, Gujarat, India |
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Tel. No : |
91-79-22901248/ 50 |
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Factory 6 : |
Plot No. 3646 (P), 101 (P) Naranpura, Chandrasan, Sanand, Ahmedabad -382170, Gujarat, India |
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Tel. No : |
91-2717-273031 |
DIRECTORS
AS ON 29.12.2014
|
Name : |
Mr. Axel Bernard Richard Ensinger |
|
Designation : |
Director |
|
Address : |
Auf Dem, Muhlberg 69, Frankfurt Am Main - 60599, Germany |
|
Date of Birth/Age : |
01.01.1970 |
|
Date of Appointment : |
07.01.2013 |
|
DIN No.: |
06800691 |
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|
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|
Name : |
Mr. Ashit Dhirajlal Doshi |
|
Designation : |
Managing director |
|
Address : |
A-103, 10th Floor, Tirthbhoomi Apartment, B/H. Law
College, Ahmedabad - 380006, Gujarat, India |
|
Date of Birth/Age : |
18.08.1965 |
|
Qualification : |
B.Sc. |
|
Experience : |
27 Years |
|
Date of Appointment : |
27.08.2007 |
|
PAN No.: |
AACPD7752Q |
|
DIN No.: |
00150851 |
|
|
|
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Name : |
Mr. Rakshit Dhirajlal Doshi |
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Designation : |
Whole-time director |
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Address : |
A/103, 10th Floor, Tirthbhoomi Apartment, B/H Law College,
Ahmedabad - 380006, Gujarat, India |
|
Date of Birth/Age : |
29.05.1969 |
|
Qualification : |
B.E. (Chemical) |
|
Experience : |
23 Years |
|
Date of Appointment : |
26.12.2008 |
|
PAN No.: |
AACPD8698R |
|
DIN No.: |
00150910 |
|
|
|
|
Name : |
Mr. Fabrice Pascal Jacques Brochet |
|
Designation : |
Director |
|
Address : |
52, Allee Santos Dumont, 92150 Suresnes, Suresnes - 92150
, France |
|
Date of Birth/Age : |
22.08.1966 |
|
Date of Appointment : |
14.05.2011 |
|
DIN No.: |
03530334 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.12.2014
|
Names of Equity Shareholders |
No. of Shares |
Percentage of Holding |
|
Doshion Private Limited, India |
3500000 |
70.00 |
|
Veolla Water Solutions and Technologies, France |
1500000 |
30.00 |
|
|
|
|
|
Total |
5000000 |
100.00 |
|
Names of Preference Shareholder |
No. of Shares |
|
Doshion Private Limited, India |
9488000 |
|
|
|
|
Total |
9488000 |
AS ON 29.12.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
30.00 |
|
Bodies
corporate |
70.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the business of the executing small, medium and large size Engineering, Procurement and Construction (EPC) Projects for Water and Waste Water Management facilities in Municipal, Infrastructural and Industrial Projects and provides integrated solutions in the water management services. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Union Bank of India Industrial Finance Branch, C.U. Shah Chambers, Near Gujarat Vidyapith, Ashram Road, Ahmedabad - 380014, Gujarat, India |
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Facilities : |
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Financial Institutions : |
· IL and FS Trust Company Limited IL and FS Financial Centre, Plot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai - 400051, Maharashtra, India · Tata Capital Financial Services Limited One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
“Heritage”, 3rd Floor, Near Gujarat Vidhyapith, Off |
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Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Doshion Private Limited (U24110GJ1995PTC025307) |
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Subsidiary Company
: |
· PT Doshion Veolia Water Solutions, Indonesia · Gondwana Engineers Limited (CIN No.: U28920MH1982PLC027105) |
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Enterprises having substantial interest
in voting power of the company : |
Veolia Water Solutions and Technology |
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Holding Company / enterprises controlled
by Holding Company : |
· Doshion Private Limited · Nagaur Water Supply Company Private Limited (CIN No.: U41000GJ2008PTC053373) · Pacific Pipe Systems Private Limited (CIN No.: U28110GJ2008PTC053182) · Thomson Nusa Metals Private Limited (CIN No.: U31501TN1992PTC023326) · Doshion Infrastructure Development Private Limited (CIN No.: U45203GJ2008PTC055416) · Doshion Fabrication Company Private Limited (CIN No.: U29100GJ2008PTC055415) · Shivpuri Water Infrastructure Private Limited · (CIN No.: U41000GJ2009PTC057906) · Doshion Water Umbrella Cuddlore Private Limited (CIN No.: U41000GJ2011PTC064934) |
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|
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|
Enterprises over which Key Management
personnel and / or their relatives are able to exercise significant influence
: |
· Fivebro International Private Limited (CIN No.: U41000GJ2002PTC041470) · Doshi and Company · Fivebro Water Services · De Aryans Private Limited (CIN No.: U74999GJ2006PTC049658) · Fivestar Pharmaceuticals Private Limited · Penta Aqua Private Limited (CIN No.: U41000GJ2003PTC043178) |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 75.000 Million |
|
10,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 175.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000
Million |
|
9,488,000 |
Preference Shares |
Rs. 10/- each |
Rs. 94.880
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 144.880 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 |
144.880 |
144.880 |
144.880 |
|
(b) Reserves & Surplus |
921.400 |
1406.237 |
1519.787 |
|
(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) |
1066.280 |
1551.117 |
1664.667 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
371.102 |
72.222 |
138.889 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
11.819 |
9.514 |
|
(c)
Other long term liabilities |
0.000 |
47.440 |
47.440 |
|
(d)
long-term provisions |
31.606 |
34.119 |
38.085 |
|
Total
Non-current Liabilities (3) |
402.708 |
165.600 |
233.928 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1266.969 |
1470.248 |
1093.275 |
|
(b)
Trade payables |
1699.803 |
1515.603 |
1244.495 |
|
(c)
Other current liabilities |
376.185 |
285.477 |
316.559 |
|
(d)
Short-term provisions |
6.360 |
7.866 |
122.049 |
|
Total
Current Liabilities (4) |
3349.317 |
3279.194 |
2776.378 |
|
|
|
|
|
|
TOTAL |
4818.305 |
4995.911 |
4674.973 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
450.804 |
315.154 |
338.411 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
168.490 |
111.739 |
|
(iv) Intangible assets under development |
0.000 |
0.217 |
0.105 |
|
(b) Non-current
Investments |
475.942 |
487.203 |
487.203 |
|
(c) Deferred tax assets
(net) |
89.271 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
106.020 |
81.713 |
109.031 |
|
(e)
Other Non-current assets |
39.144 |
10.843 |
4.785 |
|
Total
Non-Current Assets |
1161.181 |
1063.620 |
1051.274 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
381.881 |
528.913 |
449.772 |
|
(c)
Trade receivables |
2037.861 |
2006.468 |
1791.953 |
|
(d)
Cash and cash equivalents |
127.123 |
154.068 |
185.643 |
|
(e)
Short-term loans and advances |
530.386 |
664.119 |
557.860 |
|
(f)
Other current assets |
579.873 |
578.723 |
638.471 |
|
Total
Current Assets |
3657.124 |
3932.291 |
3623.699 |
|
|
|
|
|
|
TOTAL |
4818.305 |
4995.911 |
4674.973 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2162.739 |
3191.017 |
|
|
|
|
Other Income |
42.880 |
56.552 |
|
|
|
|
TOTAL |
2205.619 |
3247.569 |
3465.168 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2791.546 |
3358.814 |
3259.141 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(585.927) |
(111.245) |
206.027 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(101.090) |
2.305 |
51.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(484.837) |
(113.550) |
154.766 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
107.211 |
333.273 |
210.296 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(96.97) |
(22.71) |
30.95 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
38.849 |
66.667 |
61.793 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
152.765 |
(19.970) |
2.061 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(22.42) |
(3.56) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.78) |
(2.56) |
5.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.55) |
(0.07) |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.57 |
1.04 |
0.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.20 |
1.31 |
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 |
144.880 |
144.880 |
144.880 |
|
Reserves & Surplus |
1519.787 |
1406.237 |
921.400 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1664.667 |
1551.117 |
1066.280 |
|
|
|
|
|
|
Long-term borrowings |
138.889 |
72.222 |
371.102 |
|
Short term borrowings |
1093.275 |
1470.248 |
1266.969 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
61.793 |
66.667 |
38.849 |
|
Total
borrowings |
1293.957 |
1609.137 |
1676.920 |
|
Debt/Equity
ratio |
0.777 |
1.037 |
1.573 |
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 |
3465.168 |
3247.569 |
2205.619 |
|
|
|
(6.280) |
(32.084) |
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 |
3465.168 |
3247.569 |
2205.619 |
|
Profit |
154.766 |
(113.550) |
(484.837) |
|
|
4.47% |
(3.50%) |
(21.98%) |
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 |
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 |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE: 09.10.2015 |
|
LODGING NO: CPL/968/2015
FILING DATE: 09.10.2015
|
|
PETITIONER: M/S MONARCH CORPORATION RESPONDENT:
DOSHION WATER SOLUTIONS PRIVATE LIMITED
PETN. ADV.: DHIR AND DHIR ASSOCIATES (0) DISTRICT: MUMBAI |
|
BENCH: SINGLE STATUS: PRE-ADMISSION CATEGORY: COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT NEXT DATE: 16.10.2015 STAGE:
-- CORAM: REGISTRAR
9OS)/ PROTHONOTARY AND SR. MASTER LIST |
|
ACT: Companies
Act & Rules 1956 UNDER SECTION: 433(E), 434 and 439 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10508763 |
29/03/2014 |
187,200,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,
C.U. SHAH CHAMBERS,, N |
C11094695 |
|
2 |
10486396 |
27/03/2014 |
211,600,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES BRANCH, 1ST FLOOR, BANK OF BARODA TOWERS, NEAR LAW GARDEN, AHMEDABAD
- 390006, |
C01003433 |
|
3 |
10468559 |
27/06/2014 * |
4,086,400,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA |
C11396389 |
|
4 |
10435676 |
12/06/2013 |
58,756,425.00 |
INDUSIND BANK LIMITED |
WORLD BUSINESS
HOUSE, M. G. ROAD, NESR. PARIMAL GARDEN,ELLIS BRIDGE, AHMEDABAD - 380015,
GUJARAT, IND |
B79121620 |
|
5 |
10425468 |
19/03/2013 |
180,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, C.U. SHAH CHAMBERS, NEAR GUJARAT VIDYAPITH, ASHRAM ROAD, AHMEDABAD - 380014, GUJARAT, INDIA |
B75049262 |
|
6 |
10406260 |
25/02/2013 |
290,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES BRANCH, 1ST FLOOR, B |
B68817352 |
|
7 |
10320931 |
26/02/2014 * |
219,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,DR. V.
B. GANDHI MARG, FORT, MUMBAI - 400001, |
B98275118 |
|
8 |
10173713 |
30/09/2011 * |
3,330,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES BRANCH, 1ST FLOOR, BANK OF BARODA TOWERS, NEAR LAW GARDEN, AHMEDABAD
- 390006, |
B23042724 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
46.378 |
0.000 |
|
|
|
|
|
Total |
46.378 |
0.000 |
BUSINESS AND ITS
OPERATIONS
The Company is in the business of the executing small, medium and large size Engineering, Procurement and Construction (EPC) Projects for Water and Waste Water Management facilities in Municipal, Infrastructural and Industrial Projects and provides integrated solutions in the water management services.
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
PRESS RELEASES
GUJARAT BASED DOSHION GROUP UNDER SCANNER NON-PAYMENT OF
DUES TO EMPLOYEES
AHMEDABAD:
Gujarat-headquartered water and waste water
cycle management entity Doshion Group has
come under scanner for alleged non-payment of dues to employees. Over 200
former employees of
the company filed a police complaint to recover pending dues to the tune of
near Rs 5 crore even as Gujarat chief minister Anandi Patel's office has asked
the labour commissioner to intervene.
"There are other
former employees who are yet to come openly against the company with their
complaints and hence, the amount owed in totality, would be far more than what
we believe," said one of the former employees who left the company a
year-and-half back. He is part of Fight for Right, a group of former employees
that is taking on the management for allegedly withholding their payment -
pending salaries, leave encashment, leave travel allowance, medical and other
reimbursements, et al.
The
police complaint filed in Ahmedabad raises
allegations against Doshion Pvt Ltd and its group companies Doshion Veolia
Water Solutions Pvt Ltd and Pacific Pipe Systems Pvt Ltd. While the dues owed
to the employees are being withheld, the company made a payment of Rs 64 lakh
to central excise and service tax department following a raid by the excise
department in March 2014, the complaint alleges. The company issued a statement
claiming it is "duty bound to pay the dues."
"Our
representatives were assured by the management on July 13, 2014 that the
payments would be made - 40% of dues were promised to be cleared by July 25,
30% by August 25, and rest by September 25. When the promises were not kept,
applicants protested against the management on August 1 forcing it to make
partial payment.... The breach of trust is intentional..." reads the
police complaint, a copy of which has been marked to ACS home SK Nanda and
deputy labour commissioner. An FIR is yet to be registered.
Further, the
commissioner of labour has been instructed by Gujarat chief minister Anandi
Patel's office to look into the matter following intervention sought by former
employee Ashok Kumar Menon.
"We wish the
matter is resolved soon so that the pending dues are released," added
Falgun Patel, a former employee.
VEOLIA UPBEAT AS WEAK EURO, COST CUTS MORE THAN DOUBLE PROFIT
PARIS: Veolia Chief Executive Antoine Frerot said the French
water and waste company is more optimistic for earnings growth in 2015 and that
next year's profits would be boosted by new growth in its key French water
business.
Veolia's first-half 2015 net profit jumped 178 percent to 353 million euros as the weak euro, better performance of energy unit Dalkia, cost cuts and income from new recycling businesses helped it post its sixth consecutive quarter of higher earnings.
With first-half net already more than double full-year 2014 earnings, Frerot said Veolia was likely to beat its target of growing revenue, core earnings and current operating income.
He has not given any numerical growth target and did not give one on Monday.
He added 2016 should benefit from the end of a five-year period of large municipal water concession renegotiations and see new revenue from new contracts such as Lille.
"The big wave of contract renegotiations has ended. From the start of 2016
we hope to see growth of our activities," he said.
For years, Veolia's margins suffered as cash-strapped cities haggled for better
terms. First-half French water contract renegotiations cut core earnings by 50
million euros.
To make up for the squeeze in municipal water markets, Veolia and peer Suez
looked for more industrial clients.
In April, Veolia won a deal to supply water and wastewater treatment services
to South Korea's largest nuclear power plant; in June it won a deal to run a
biomass power plant in Ireland.
Veolia's European waste business, sensitive to swings in industrial production,
also improved, with French waste business revenue up 3.8 percent in the second
quarter, reversing a 1.4 percent first-quarter decline.
Veolia shares - up 0.5 percent in opening trade on Monday –
Have been the best performers in the Stoxx European
utilities index with a gain of 54 percent in the past 12 months, far
outperforming its smaller peer Suez, whose shares rose 25 percent over the same
period.
Veolia's earnings before interest, tax, depreciation and amortisation rose 10.6
percent to 1.53 billion euros ($1.68 billion). Currency swings accounted for
nearly half of that gain, but cost cuts worth 110 million euros also
helped.
Frerot expects that by the end of 2015 Veolia will exceed cost savings of 750
targeted for the 2011-15 period and had already reached 700 million euros at
the end of June.
Revenue increased 7.3 percent to 12.32 billion euros, with the favorable impact
of exchange rates contributing 499 million.
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.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
17 |
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.