MIRA INFORM REPORT
|
Report No. : |
345760 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MSEB HOLDING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
MSEB Holding Company, Hong Kong Bank Building 3rd and 4th
Floor, Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra |
|
Tel. No.: |
91-22-22619699 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153649 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 25047.167 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100MH2005SGC153649 |
|
|
|
|
IEC No.: |
Not Available |
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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 operates as a holding company which through its subsidiaries, produces,
distributes, and transmits electricity, subject operates thermal, hydel and
gas stations. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
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Litigation : |
Clear |
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|
Comments : |
M.S.E.B. Holding Company Limited (is a wholly owned entity of
Government of Maharashtra GoM) operates as a holding company with through its
subsidiaries to produces, distributes, and transmits electricity. The company
operates in thermal, hydel and gas stations. It is state-owned electricity
regulation board operating within the states of Maharashtra in India. M.S.E.B. Holding Company Limited was formerly known as Maharashtra
State Electricity Board and changed its name to M.S.E.B Holding Company
Limited in June 2005. As per financial, the company has incurred huge accumulated losses.
However, the company receives strong operational, technical, managerial and
financial knowhow support from the GoM In view of strategic importance to its subsidiaries and strong backing
from Government, the company can be considered normal 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Mutakkar |
|
Designation : |
Manager |
|
Contact No.: |
91-22-22619699 |
|
Date : |
20.06.2015 |
LOCATIONS
|
Registered Office : |
MSEB Holding Company, Hong Kong Bank Building 3rd and 4th
Floor, Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22619699 |
|
Fax No.: |
91-22-22619699 |
|
E-Mail : |
csmahagenco@gmial.com msebhd@gmail.com |
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Mukesh Khullar |
|
Designation : |
Managing Director |
|
Address : |
20, Avanti Narayan Dabholkar Road, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
21.01.2015 |
|
DIN No.: |
01208035 |
|
|
|
|
Name : |
Mrs. Anuradha Bhatia |
|
Designation : |
Whole-time Director |
|
Address : |
7, 4th Floor, Suniti General J Bhosale Marg, Near To Yashwant Chawhan Centre, Mumbai - 400021, Maharashtra, India |
|
Date of Appointment : |
24.08.2015 |
|
DIN No.: |
07278138 |
|
|
|
|
Name : |
Mr. Prakash Vithal Page |
|
Designation : |
Director |
|
Address : |
131, Poornand Walkeshwar Road, Malbar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
18.09.1953 |
|
Date of Appointment : |
07.07.2005 |
|
DIN No.: |
00096443 |
|
|
|
|
Name : |
Mr. Bipinkumar Punambhai Shrimali |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 1, 3rd Floor, Mhada Kalanagar Bandra (East), Mumbai - 400051, Maharashtra, India |
|
Date of Birth/Age : |
03.11.1963 |
|
Date of Appointment : |
18.02.2014 |
|
DIN No.: |
03272135 |
|
|
|
|
Name : |
Mr. Chandrashekhar Krishnarao Bawankule |
|
Designation : |
Additional Director |
|
Address : |
H No 162/4, W No 1, Koradi - 441102, Maharashtra, India |
|
Date of Appointment : |
18.12.2014 |
|
DIN No.: |
07052780 |
|
|
|
|
Name : |
Mr. Rajeev Kumar Mital |
|
Designation : |
Additional director |
|
Address : |
07, Floor-2nd, Plot 23, Bel Heaven, Vittaldas, Thackersey Marg, New Marine Lines, Churchgate, Mumbai - 400020, Maharashtra, India |
|
Date of Appointment : |
21.01.2015 |
|
DIN No.: |
07074391 |
|
|
|
|
Name : |
Mr. Om Prakash Gupta |
|
Designation : |
Additional director |
|
Address : |
6th Floor, 41 Yashodhan Building, Dinshaw Watcha Road 32 Br., Mumbai - 400020, Maharashtra, India |
|
Date of Appointment : |
21.0.2015 |
|
DIN No.: |
03207630 |
|
|
|
|
Name : |
Mr. Vishwas Vasant Pathak |
|
Designation : |
Nominee director |
|
Address : |
C 302, Lotus Court, Opposite Vca Ground, Civil Line, Nagpur - 440001, Maharashtra, India |
|
Date of Appointment : |
25.02.2015 |
|
DIN No.: |
00093771 |
|
|
|
|
Name : |
Mr. Rajendra Goenka Balbhadra |
|
Designation : |
Nominee director |
|
Address : |
Plot No 247, Nandanvan Layout, Nagpur - 440009, Maharashtra, India |
|
Date of Appointment : |
25.02.2015 |
|
DIN No.: |
01909674 |
|
|
|
|
Name : |
Mr. Suryapratap Maujiram Gupta |
|
Designation : |
Additional director |
|
Address : |
Additional Commercial Of Police, Opposite Bhabha Hospital, Waterfield Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Appointment : |
27.08.2015 |
|
DIN No.: |
07280370 |
KEY EXECUTIVES
|
Name : |
Mrs. Anuradha Bhatia |
|
Designation : |
CFO |
|
Address : |
7, 4th Floor, Suniti General J Bhosale Marg, Near To Yashwant Chawhan Centre, Mumbai - 400021, Maharashtra, India |
|
Date of Appointment : |
24.08.2015 |
|
PAN No.: |
AAGPB0964Q |
|
|
|
|
Name : |
Mr. Subodh Rameshravji Zare |
|
Designation : |
Secretary |
|
Address : |
Plot No. 11, Kashi Nagar, Near Rameshwari Bus Stop, Nagpur, 440027, Maharashtra, India |
|
Date of Appointment : |
21.08.2015 |
|
PAN No.: |
AAHPZ2447H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ajoy Mehta Nominee Government of Maharashtra |
|
10 |
|
Ajoy Mehta Nominee Government of Maharashtra |
|
1999940 |
|
P.G. Mohite Nominee Government of Maharashtra |
|
10 |
|
A.B. Ramteke Nominee Government of Maharashtra |
|
10 |
|
V.M. Rajurkar Nominee Government of Maharashtra |
|
10 |
|
S.M. Ianamdar Nominee Government of Maharashtra |
|
10 |
|
L.N. Sadafule Nominee Government of Maharashtra |
|
10 |
|
Government of Maharashtra |
|
8383295900 |
|
Total |
|
8385295900 |
As on 27.08.2015
|
Names of Allotee |
|
No. of Shares |
|
Government of Maharashtra |
|
912486300 |
|
|
|
|
|
Total |
|
912486300 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2014
|
Category |
Percentage |
|
Government
(Central and State) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject operates as a holding company which through its subsidiaries, produces,
distributes, and transmits electricity, subject operates thermal, hydel and
gas stations. |
|
|
|
|
Products : |
Not Available |
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|
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|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
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Auditors : |
|
|
Name : |
Chokshi and Cokshi Chartered Accountants |
|
Address : |
5/17, Raghavji Building, Raghavji Road, Gowalia Tank, Mumbai - 400036,
Maharashtra, India |
|
Tel. No.: |
91-22-23836900 |
|
Fax No.: |
91-22-23836901 |
|
E-Mail : |
contact@chokshiandchokshi.com |
|
Website: |
www.chokshiandokshi.com |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFC2633B |
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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Wholly Owned Subsidiaries : |
CIN No.:U40109MH2005SGC153645
CIN No.:U40100MH2005SGC153648
CIN No.:U40109MH2007SGC176309 |
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|
Subsidiaries of MSPGCL |
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|
|
|
|
Subsidiaries of MSEDCL |
|
|
|
|
|
Enterprises over which Key Management Personal, Relatives of Key
Management Personal etc. are able to exercise significant influence: |
|
CAPITAL STRUCTURE
After 24.09.2014
Authorised Capital : Rs. 250200.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 98140.622 Million
As on 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000000 |
Equity Shares |
Rs.10/- each |
Rs. 250000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8385295900 |
Equity Shares |
Rs.10/- each |
Rs.
83852.959 Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000000 |
Equity Shares |
Rs.10/- each |
Rs. 250000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2504716700 |
Equity Shares |
Rs.10/- each |
Rs. 25047.167
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 |
25047.167 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
(36974.592) |
(35320.676) |
(33881.486) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
145621.818 |
153845.359 |
138244.693 |
|
Total
Shareholders’ Funds (1) + (2) |
133694.393 |
118544.683 |
104383.207 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
64761.538 |
62776.636 |
60482.424 |
|
(b) Deferred tax liabilities (Net) |
104.598 |
100.950 |
103.090 |
|
(c) Other long term
liabilities |
11232.273 |
11509.090 |
11221.592 |
|
(d) long-term
provisions |
589.923 |
588.055 |
588.720 |
|
Total Non-current
Liabilities (3) |
76688.332 |
74974.731 |
72395.826 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
11461.344 |
11733.750 |
12042.745 |
|
(d) Short-term provisions |
3.671 |
5.692 |
3.270 |
|
Total Current
Liabilities (4) |
11465.015 |
11739.442 |
12046.015 |
|
|
|
|
|
|
TOTAL |
221847.740 |
205258.856 |
188825.048 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
428.911 |
393.767 |
372.249 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
15.286 |
1.690 |
21.805 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
175554.858 |
158141.792 |
141528.739 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10070.544 |
10249.434 |
10065.596 |
|
(e) Other
Non-current assets |
35340.449 |
35605.969 |
36384.447 |
|
Total Non-Current
Assets |
221410.048 |
204392.652 |
188372.836 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
108.903 |
406.457 |
413.411 |
|
(e)
Short-term loans and advances |
300.091 |
423.403 |
30.000 |
|
(f) Other
current assets |
28.698 |
36.344 |
8.801 |
|
Total
Current Assets |
437.692 |
866.204 |
452.212 |
|
|
|
|
|
|
TOTAL |
221847.740 |
205258.856 |
188825.048 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
Other Income |
434.550 |
652.269 |
408.548 |
|
|
TOTAL
|
434.550 |
652.269 |
408.548 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
38.346 |
1.331 |
1.172 |
|
|
Other expenses |
208.415 |
56.534 |
22.466 |
|
|
Prior Period Items |
14.216 |
19.715 |
0.000 |
|
|
TOTAL
|
260.977 |
77.580 |
23.638 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
173.573 |
574.689 |
384.910 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1712.117 |
1984.903 |
2294.184 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1538.544) |
(1410.214) |
(1909.274) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
13.747 |
15.352 |
18.976 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1552.291) |
(1425.566) |
(1928.250) |
|
|
|
|
|
|
|
Less |
TAX |
101.626 |
13.623 |
194.514 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1653.917) |
(1439.189) |
(2122.764) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(1.29) |
(719.59) |
(1061.00) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1018.594 |
1018.594 |
1018.621 |
|
Cash generated from operations |
433.021 |
976.165 |
(1900.362) |
|
Net cash flow from operating activity |
335.044 |
960.402 |
(1991.785) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
(380.60) |
(220.64) |
(519.59) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/ Total Income) |
(%) |
39.94 |
88.11 |
94.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.35) |
(3.03) |
(4.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
(0.01) |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.49 |
0.54 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.04 |
0.07 |
0.04 |
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 |
20.000 |
20.000 |
25047.167 |
|
Reserves & Surplus |
-33881.486 |
-35320.676 |
-36974.592 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
138244.693 |
153845.359 |
145621.818 |
|
Net
worth |
104383.207 |
118544.683 |
133694.393 |
|
|
|
|
|
|
long-term borrowings |
60482.424 |
62776.636 |
64761.538 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
1018.621 |
1018.594 |
1018.594 |
|
Total
borrowings |
61501.045 |
63795.230 |
65780.132 |
|
Debt/Equity
ratio |
0.589 |
0.538 |
0.492 |
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 |
408.548 |
652.269 |
434.550 |
|
|
|
59.655 |
(33.379) |
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 |
408.548 |
652.269 |
434.550 |
|
Profit |
(2122.764) |
(1439.189) |
(1653.917) |
|
|
(519.59)% |
(220.64)% |
(380.60)% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
No |
|
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 |
BACKGROUND
The Subject was incorporated w.e.f. 31.05.2005 consequent upon the
decision of Government of Maharashtra (GOM) for reorganization of MSEB, I had
three Subsidiaries Companies viz, Maharashtra State Power Generation Company
Limited (MSPGL), Maharashtra State Electricity Transmission Company Limited
(MSETCL), Maharashtra State Electricity Distribution Company Limited (MSEDCl.)
The Company started its operation from 6th June 2005 in accordance
with the “Provisional Transfer Scheme” of the Government of Maharashtra. The
“Provisional Transfer Scheme” is a scheme under which all the three subsidiary
companies and this company came into existence from the erstwhile MSEB Board
and the same is not fully implemented yet.
The assets and liability reflects in the book as at 31.03.2014 includes
balance as on 06.06.2005 that have been accounted in the financial statement
pursuant to the Provisional Transfer Scheme. The said scheme is Provisional,
the balance of assets/liability are subject to change on notification of final
Transfer Scheme by Government of Maharashtra. All adjustment to effect the
final Tranfer Scheme will be passed prospectively after the same is approved by
the Government of Maharashtra
FINANCIAL
PERFORMANCE
During the year
under review (2013-1 4), the overall income of the company which mainly
comprises of Rental income, Interest on FD's decreased by 33 % to Rs 434.500
Million. The total expenses of the company decreased to Rs 1 972.600 Million as
compared to Rs 2058.100 Million of previous year primarily due to reduction in
interest finance costs. Employee cost and other expenses have increased
considerably due to inclusion of MSEDCL civil section salary and establishment
expenses and other repairs and maintenance cost incurred by MSEDCI, on assets
allocated to thc company. As a
result net loss of the company was Rs 1538.000 Million as compared to Rs
1405.800 Million of previous year ear 2012-13. After provision for tax for the
current year and deferred tax the loss for the year 201 3- 14 of the company stood
Ks 1653.900 Million as against Rs 1439.100 Million previous year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and
advance from related parties |
|
|
|
State Government Loans |
50732.906 |
49072.681 |
|
CPSU Dues PP |
5765.481 |
5621.597 |
|
CPS Dues Coal |
8263.151 |
8082.358 |
|
Total |
64761.538 |
62776.636 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Computer
- Land
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.64.88 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
43 |
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.