MIRA INFORM REPORT
|
Report No. : |
345102 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHARASHTRA STATE POWER GENERATION COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Prakashgad Plot No. G-9, Anant Kanekar Marg, Bandra (East), Mumbai -
400051, Maharashtra |
|
, |
91-22-26474524/26474211 |
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|
|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
31.05.2005 |
|
|
|
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Com. Reg. No.: |
11-153648 |
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Capital
Investment / Paid-up Capital : |
Rs. 68083.702 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100MH2005SGC153648 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the production, transmission and distribution of
power |
|
|
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|
No. of Employees
: |
Information declined by management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Exist |
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Comments : |
Subject is a Maharashtra state government owed company engaged in
power generation, having fine track record. For the FY 2014, the company possesses impressive revenue profile and
achieved profit of Rs. 1110.400 Million However, there is sharp decline in
its profit margin as compared to previous year. The company has leveraged capital structure but it has decent cash
accruals and there is favorable gap between trade payables and receivables. Trade relations are fair. Business is active. Payment are regular and
as per commitment. In view of strong holdings of the promoter, the company can be considered
for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
07.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating : A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
07.04.2015 |
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- cooperative (91-22-26474524/26474211)
LOCATIONS
|
Registered Office : |
Prakashgad Plot No. G-9, Anant Kanekar Marg, Bandra (East), Mumbai -
400051, Maharashtra, India |
|
Tel. No.: |
91-22-26474524/26474211 |
|
Fax No.: |
91-22-26475454 |
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E-Mail : |
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|
Website : |
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Thermal Power Station Unit: |
Located at:
|
DIRECTORS
AS ON 24.09.2014
|
Name : |
Mr. Bipinkumar Punambhai Shrimali |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 1 3rd Floor, Mhada Kalanagar, Bandra (East), Mumbai - 400051, Maharashtra, India |
|
Date of Appointment : |
05.01.2015 |
|
DIN No.: |
03272135 |
|
|
|
|
Name : |
Irawati Anil Dani |
|
Designation : |
Director |
|
Address : |
Gandhi Sagar (East), Mahal, Nagpur - 440032, Maharashtra, India |
|
Date of Appointment : |
26.06.2014 |
|
DIN No.: |
00689373 |
|
|
|
|
Name : |
Mr. Jai Kumar Srinivasan |
|
Designation : |
Director |
|
Address : |
601 Mseb Qtrs R-10 E Block, Bkc Bandra (East), Mumbai - 400051, Maharashtra, India |
|
Date of Appointment : |
26.05.2014 |
|
DIN No.: |
01220828 |
|
|
|
|
Name : |
Mr. Chandrakant Satwaji Thotwe |
|
Designation : |
Additional Director |
|
Address : |
301, Mseb Colony, Bandra Kurla Complex, Bandra (East), Mumbai, 400051, Maharashtra, India |
|
Date of Birth/Age : |
14.08.1962 |
|
Date of Appointment : |
28.08.2013 |
|
DIN No.: |
01572936 |
|
|
|
|
Name : |
Mr. Mukesh Khullar |
|
Designation : |
Additional Director |
|
Address : |
20 Avanti Narayan Dabholkar Road, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
04.02.2015 |
|
DIN No.: |
01208035 |
|
|
|
|
Name : |
Mr. Vijay Parasnath Singh |
|
Designation : |
Additional Director |
|
Address : |
4-B, Soudamini, Mseb Officers Qurters, Haji Ali, Mumbai - 400034, Maharashtra, India |
|
Date of Appointment : |
28.08.2013 |
|
DIN No.: |
03362832 |
|
|
|
|
Name : |
Mr. Vishwas Vasant Pathak |
|
Designation : |
Additional director |
|
Address : |
C 302, Lotus Court, Opposite Vca Ground, Civil Line, Nagpur - 440001, Maharashtra, India |
|
Date of Appointment : |
21.07.2015 |
|
DIN No.: |
00093771 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul Dubey |
|
Designation : |
Secretary |
|
Address : |
A/3 203 Chhabhaiya Chsl, Majiwade, Thane - 400607, Maharashtra, India |
|
Date of Appointment : |
17.01.2006 |
|
PAN No.: |
AEQPD9444P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ajoy Mehta (Nominee Government of Maharashtra) |
|
49950 |
|
Jaikumar Srinivasan (Nominee Government of Maharashtra) |
|
10 |
|
A B Ramteke (Nominee Government of Maharashtra) |
|
10 |
|
R U Bagade (Nominee Government of Maharashtra) |
|
10 |
|
L N Sadafule (Nominee Government of Maharashtra) |
|
10 |
|
V M Rajurkar (Nominee Government of Maharashtra) |
|
10 |
|
MSEB Holding Company Limited, India |
|
8057234564 |
|
|
|
|
|
Total |
|
8057284564 |
AS ON 30.04.2015
|
Names of Allotee |
|
No. of Shares |
|
MSEB Holding Company Limited |
|
183995489 |
|
|
|
|
|
Total |
|
183995489 |
AS ON 21.07.2015
|
Names of Allotee |
|
No. of Shares |
|
MSEB Holding Company Limited |
|
746316300 |
|
|
|
|
|
Total |
|
746316300 |
Equity Share Break up (Percentage of Total Equity)
AS ON 24.09.2014
|
Category |
Percentage |
|
Government (Central and State) |
0.01 |
|
Government companies |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the production, transmission and distribution of
power |
|
|
|
|
Products /Services: |
Electricity Generation |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Available |
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 : |
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Facilities : |
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Financial Institutions : |
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Auditors 1 : |
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|
Name : |
Borkar and Muzumdar Chartered Accountants |
|
Address : |
21/168, Anand Nagar OM Cooperative Housing Society, Off. Nehru Road,
Vakola, Santacruz (East), Mumbai - 400055, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB3194J |
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Auditors 2 : |
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|
Name: |
Ummed Jain and Company Chartered Accountants |
|
Address : |
51, Snehdhara, Jeevan Vikas Kendra Marg, Andheri (East), Mumbai - 400069, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFU2542B |
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Auditors 3 : |
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|
Name : |
M.P Chitale and Company Chartered Accountants |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding
Company |
CIN No.:U40100MH2005SGC153649 |
|
|
|
|
Subsidiary Company:
|
CIN No.:U40105MH2007SGC173433
CIN No.:U40108MH2007SGC168836
CIN No.:U10102MH2006SGC165327 |
CAPITAL STRUCTURE
AFTER 24.09.2014
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 250000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
89875963000 |
Equity Shares |
Rs.10/- each |
Rs. 89875.846
Million |
|
|
|
|
|
AS ON 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 250000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,057,284,564 |
Equity Shares |
Rs.10/- each |
Rs. 80572.845
Million |
|
|
|
|
|
AS ON 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 250000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6808370164 |
Equity Shares |
Rs.10/- each |
Rs. 68083.702 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 |
68083.702 |
55346.446 |
51408.467 |
|
(b) Reserves &
Surplus |
17765.855 |
16604.875 |
11725.083 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
Fly Ash Utilisation Fund |
|
|
0.000 |
|
(2) Share Application
money pending allotment |
14329.099 |
14023.325 |
5777.934 |
|
Total Shareholders’ Funds
(1) + (2) |
100178.656 |
85974.646 |
68911.484 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
226471.982 |
189263.793 |
123919.799 |
|
(b) Deferred tax
liabilities (Net) |
11409.177 |
10042.921 |
7779.084 |
|
(c) Other long term
liabilities |
22276.820 |
23438.518 |
10607.630 |
|
(d) long-term provisions |
6331.859 |
6592.403 |
6317.196 |
|
Total Non-current
Liabilities (3) |
266489.838 |
229337.635 |
148623.709 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
55339.839 |
55489.490 |
61509.050 |
|
(b) Trade payables |
19357.389 |
34011.188 |
31687.756 |
|
(c) Other current
liabilities |
57052.131 |
52013.713 |
48073.801 |
|
(d) Short-term provisions |
2019.609 |
3210.185 |
1986.913 |
|
Total Current Liabilities
(4) |
133768.968 |
144724.576 |
143257.520 |
|
|
|
|
|
|
TOTAL |
500437.462 |
460036.857 |
360792.713 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
187419.206 |
161457.958 |
85445.540 |
|
(ii) Intangible Assets |
187.970 |
249.555 |
25.820 |
|
(iii) Capital
work-in-progress |
177367.143 |
157475.188 |
160683.181 |
|
Provision for
obsolescence |
(78.305) |
(78.304) |
(114.097) |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
254.459 |
|
(b) Non-current
Investments |
26.600 |
26.600 |
26.600 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4063.988 |
6533.183 |
15531.602 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
368986.602 |
325664.179 |
261853.105 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
17401.119 |
17158.750 |
14244.219 |
|
(c) Trade receivables |
86640.569 |
71330.084 |
42959.019 |
|
(d) Cash and cash equivalents |
440.517 |
1208.312 |
298.714 |
|
(e) Short-term loans and
advances |
22573.485 |
29388.231 |
31372.820 |
|
(f) Other current assets |
4395.170 |
15287.301 |
10064.836 |
|
Total Current Assets |
131450.860 |
134372.678 |
98939.608 |
|
|
|
|
|
|
TOTAL |
500437.462 |
460036.857 |
360792.713 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
165382.134 |
164238.621 |
127446.380 |
|
|
Other Income |
837.380 |
2191.843 |
1502.887 |
|
|
TOTAL |
166219.514 |
166430.464 |
128949.267 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
108108.301 |
108221.205 |
95020.055 |
|
|
Employees benefits
expense |
11164.121 |
9100.364 |
7932.733 |
|
|
Other expenses |
15003.380 |
20650.506 |
11465.926 |
|
|
TOTAL |
134275.802 |
137972.075 |
114418.714 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
31943.712 |
28458.389 |
14530.553 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
17109.719 |
13611.070 |
8498.292 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
14833.993 |
14847.319 |
6032.261 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
11634.305 |
5569.689 |
4031.255 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
3199.688 |
9277.630 |
2001.006 |
|
|
|
|
|
|
|
Less |
TAX |
2089.256 |
4397.838 |
(2.157) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1110.432 |
4879.792 |
2003.163 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and Stores parts |
3.987 |
46.596 |
4.411 |
|
|
TOTAL IMPORTS |
3.987 |
46.596 |
4.411 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.15 |
0.79 |
0.38 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.67 |
2.97 |
1.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.32 |
17.33 |
11.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.99 |
3.07 |
1.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.11 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.93 |
2.98 |
2.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
0.93 |
0.69 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
11844.466 |
11724.284 |
9737.575 |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
N.A |
N.A |
N.A |
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 |
51408.467 |
55346.446 |
68083.702 |
|
Reserves & Surplus |
11725.083 |
16604.875 |
17765.855 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
5777.934 |
14023.325 |
14329.099 |
|
Net
worth |
68911.484 |
85974.646 |
100178.656 |
|
|
|
|
|
|
long-term borrowings |
123919.799 |
189263.793 |
226471.982 |
|
Short term borrowings |
61509.050 |
55489.490 |
55339.839 |
|
Current maturities of
long-term debts |
9737.575 |
11724.284 |
11844.466 |
|
Total
borrowings |
195166.424 |
256477.567 |
293656.287 |
|
Debt/Equity
ratio |
2.832 |
2.983 |
2.931 |
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 |
127446.380 |
164238.621 |
165382.134 |
|
|
|
28.869 |
0.696 |
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 |
127446.380 |
164238.621 |
165382.134 |
|
Profit |
2003.163 |
4879.792 |
1110.432 |
|
|
1.57% |
2.97% |
0.67% |
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 |
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 |
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
|
LITIGATION DETAILS |
|||||
|
Bench:- Bombay |
|||||
|
Presentation Date:- 14/08/2015 |
|||||
|
Lodging No:- |
FAST/22709/09/2015 |
Failing Date:- |
20.08.2015 |
||
|
MAIN MATTER |
|||||
|
Lodging No:- APPL/144/2012 |
|||||
|
Petitioner:- |
EM SERVICES (I) PRIVATE LIMITED THRO |
Respondent:- |
MAHARASHTRA STATE POWER GENERATION COMPANY LIMITED |
||
|
Petn.Adv:- |
SAAR ANANT JOSHI (I1051) |
|
|||
|
District:- |
NASHIK |
||||
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Stage:- |
|||
|
Next Date:- |
18.06.2015 |
||||
|
Last Coram:- |
REGISTRAR (JUDICIAL) |
||||
|
|
|
||||
|
Act:- |
C.P.C.-(Non-Interlocutory Order) |
Under Section:- 96 |
|||
FINANCIAL PERFORMANCE
During the year, the income from sale of power increased marginally by 0.69 % from Rs 164238.600 Million to Rs 165382.100 Million. Other income during this period decreased by 62% to Rs 837.300 Million thereby making overall reduction in total income by 0.12%. There was no increase in cost of material consumed. The Finance cost increased by 26% from Rs 13611.000 Million to Rs 17109.700 Million mainly on account of interest burden on new commissioned bhusawal units and Solar project. Employee cost has risen from 91000.300 Million to 11164.100 Million (23%) due to provision for employee pay revision which was due from 1st April 2013. Depreciation /amortization has increased 109 % due to addition of Bhusawal units and change in policy. The other expenses have decreased from Rs 20650.500 Million to Rs 15003.300 Million. As a result, overall profit is decreased to Rs 1110.400 Million from Rs 4879.700 Million previous year.
OPERATIONAL
PERFORMANCE
The total Installed Capacity of Mahagenco is 11367 MW as on 31.3.2014. Bhusawal Unit 5 (500MW) declared for commercial operation w.e.f.03.01.2014. However, the full load capacity of the Bhusawal unit -5 was restricted to 400MWdue to accidental collapse of ESP hoppers in D pass on 18.10.2013.
During the year under review ,the total generation from coal fired and gas fired units was 37018 MUs and 3273 MUs as against 39048 MUs and 3741 MUs respectively previous year. Generation from Hydro and solar units was 5074 MUs and 181 MUs.
During the year 2013-14, for coal-fired plants, the average availability factor was 83.92% as against 84.31% of last year. The plant load factor was 63.64% as against 65.27%. The overhaul of 8 units was taken up during 2013-14 as against overhaul of 14 units during 2012-13. The planned outage & forced outage factor for the year 2013-14 were 7.2% and 7.41% as against 6.4 % and 8.02% for 2012-13. For gas based plants, average availability was 96.23% and PLF was 55.61%. During the year Parli U-3to7 could not be run due to acute shortage of water for substantial part of the year.
The other operational performance factors are as below:-
The Coal Realization for the year 2013-14 was 68.90% as against 73.31% of previous year. Specific coal consumption for the year 2013-14 was 0.880 Kg/ Kwh as against 0.856 Kg/ Kwh of last year. The Boiler Tube Leakage percentage for the year 2013-14was 2.89% as against 3.40% of last year. Specific oil consumption for the year 2013-14 was 3.71 ml/Kwh as against 3.63 ml/Kwh of last year. The auxiliary consumption for the year 2013-14 was 10.58% as against 10.62% of last year. The average gross calorific value of coal fired during the year 2013-14 was 2991 Kcal/Kg. The heat rate for the year 2013-14 was 2666 Kcal/Kwh. The transit loss for the year 2013-14 was 1.02% as against 0.87% for last year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term
Loan |
|
|
|
From
Financial Institution |
|
|
|
Power
Finance Corporation |
1631.696 |
2811.040 |
|
From
Others |
|
|
|
KFW
150 MW Solar |
6952.868 |
1703.399 |
|
Loan
from world bank |
209.445 |
0.000 |
|
Government
of Maharashtra |
316.843 |
633.143 |
|
Short-term
borrowings |
|
|
|
Loan
repayable on Demand |
|
|
|
From
Banks |
|
|
|
Working
Capital loan from Banks |
28490.891 |
30200.824 |
|
Temporay
Loan from Banks |
509.109 |
799.175 |
|
Project
Specific loans from banks |
0.000 |
0.000 |
|
Total |
38110.852 |
36147.581 |
CONTINGENT
LIABILITIES (NOT PROVIDED FOR) :
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Bank Guarantee issued by Bankers of company in favour of Third Parties |
138.975 |
138.975 |
|
Bank Guarantee / Letter of Credit issued by Bankers of company |
68.600 |
94.993 |
|
Claims against company not acknowledged as debts |
11756.805 |
7293.214 |
|
Disputed Duties / Tax Demands |
36.311 |
1114.894 |
|
Total |
12000.690 |
8642.076 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10534418 |
24/11/2014 |
1,193,000,000.00 |
POWER FINANCE
CORPORATION LIMITED |
'URJANIDHI',
1,BARAKHAMBA LANE,, CONNAUGHT PLACE, |
C35696004 |
|
2 |
10528737 |
10/10/2014 |
1,687,500,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA |
C32014599 |
|
3 |
10476629 |
31/01/2014 |
393,900,000.00 |
INDIAN RENEWABLE
ENERGY DEVELOPMENT AGENCY LIMITED |
INDIA HABITAT
CENTRE1ST FLOOR EAST COURT CORE, 4 |
B95961280 |
|
4 |
10459921 |
25/10/2013 |
572,000,000.00 |
RURAL
ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX,
7 LODI ROAD, NEW DELHI, DELHI - 110003, INDIA |
B89429302 |
|
5 |
10416169 |
28/03/2013 |
10,000,000,000.00 |
CENTRAL BANK OF
INDIA |
KHERNAGAR,
BANDRA EAST, MUMBAI- 400051, MAHARASHTRA, INDIA |
B71922926 |
|
6 |
10423934 |
26/03/2013 |
393,900,000.00 |
INDIAN RENEWABLE
ENERGY DEVELOPMENT AGENCY LIMITED |
INDIA HABITAT
CENTRE1ST FLOOR EAST COURT CORE, 4 |
B74496266 |
|
7 |
10414585 |
16/03/2013 |
34,350,000,000.00 |
POWER FINANCE
CORPORATION LIMITED |
'URJANIDHI',
1,BARAKHAMBA LANE,, CONNAUGHT PLACE, |
B71739882 |
|
8 |
10415545 |
15/03/2013 |
284,000,000.00 |
HOUSING AND
URBAN DEVELOPMENT CORPORATION LIMITED |
HUDCO BHAWAN, INDIA,
HABITAT CENTER,, LODHI ROAD, DELHI - 110003, INDIA |
B71955868 |
|
9 |
10411810 |
07/03/2013 |
669,100,000.00 |
RURAL
ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE
COMPLEX, 7 LODI ROAD, NEW DELHI, DELHI - 110003, INDIA |
B70771274 |
|
10 |
10413498 |
07/03/2013 |
95,600,000.00 |
RURAL
ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE
COMPLEX, 7 LODI ROAD, NEW DELHI, DELHI - 110003, INDIA |
* Date of charge modification
FIXED ASSETS
- Land (including development)
- Freehold
- Leasehold
- Buildings
- Factory Buildings
- Hydraulic Works
- Other Civil Works
- Railway Sidings
- Roads
- Plant, Machinery and Equipments
- Lines and Cable Networks
- Furniture and Fixtures
- Vehicles
- Office 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.65.02 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.73.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.