|
|
|
MIRA INFORM REPORT
|
Report No. : |
503353 |
|
Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALSTOM TRANSPORT INDIA LIMITED |
|
|
|
|
Registered
Office : |
65/2, 2nd Floor, Block C, Bagmane Laurel Building, Bagmane Tech Park,
C. V. Raman Nagar, Bangalore – 560093, Karnataka |
|
Tel. No.: |
91-80-42095000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
19.01.2011 |
|
|
|
|
Com. Reg. No.: |
08-056682 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 12932.702 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60231KA2011PLC056682 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCA1167G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of self-propelled railway or tramway coaches, vans and trucks, maintenance or
service. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 16400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Alstom Transport Holdings B.V.”, Netherlands, and was incorporated in the year 2011. The company has sound financial base and healthy capital structure along with low debt balance sheet. Rating takes into consideration strong managerial and financial support received to the company from its holding entity. Further, the company also derives strength from its improving revenue profile as compared to previous year. However, rating strength is partially offset due to continuously losses incurred by the company which has reported negative reserves position. Trade relations are reported as fair. Business is active. Payments are
slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating= A+ (SO) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
28.12.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating= A1+ (SO) |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
28.12.2017 |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 14.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Manish |
|
Designation : |
Finance Department |
|
Contact No.: |
91-80-42095000 |
|
Date : |
12.04.2018 |
91-80-46412400 –
Ringing
LOCATIONS
|
Registered Office : |
65/2, 2nd Floor, Block C, Bagmane Laurel Building, Bagmane Tech Park,
C. V. Raman Nagar, Bangalore – 560093, Karnataka |
|
Tel. No.: |
91-80-42095000 / 46412400 |
|
Fax No.: |
91-80-42095003 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
No.88 South Cashew Road, Post Box No.1, Sricity DTZ, Chittoor –
517588, Andhra Pradesh, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Runa Mukherjee |
|
Designation : |
Director |
|
Address : |
C-209, Ground Floor Sarvodaya Enclave, New Delhi – 110016, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
02792569 |
|
|
|
|
Name : |
Madhav Pathak |
|
Designation : |
Director |
|
Address : |
S-515, Block -S Greater Kailash –II, New Delhi – 110048, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
06941165 |
|
|
|
|
Name : |
Manish Gour |
|
Designation : |
Director |
|
Address : |
H No 2373, Sector 9, Faridabad – 121006, Haryana, India |
|
Date of Appointment : |
14.09.2016 |
|
DIN No.: |
07610539 |
|
|
|
|
Name : |
Mr. Vinod Thoompunkal Varghese |
|
Designation : |
Director |
|
Address : |
Rh No 113, D.S.R Elite, Syno 52/2, Mahadevapura, Kr Puram, Bangalore –
560048, Karnataka, India |
|
Date of Birth/Age : |
29.02.1972 |
|
Date of Appointment : |
08.01.2018 |
|
DIN No.: |
07985474 |
|
|
|
|
Name : |
Mr. Alain Christian Spohr |
|
Designation : |
Director |
|
Date of Appointment : |
22.09.2017 |
|
DIN No.: |
03581607 |
|
|
|
|
Name : |
Mr. Nilesh Pramod Vedak |
|
Designation : |
Director |
|
Date of Appointment : |
19.07.2017 |
|
DIN No.: |
07874351 |
|
|
|
|
Name : |
Mr. Sreeganthan Ayyannan |
|
Designation : |
Director |
|
Date of Appointment : |
19.07.2017 |
|
DIN No.: |
07876523 |
|
|
|
|
Name : |
Mr. Simon Laurent Jacques Garnier |
|
Designation : |
Director and Chief Financial Officer |
|
Date of Appointment : |
22.09.2017 |
|
DIN No.: |
07943774 |
|
PAN No.: |
BUPPG8190P |
KEY EXECUTIVES
|
Name : |
Harish Brahmakal Nagaraj |
|
Designation : |
Company Secretary |
|
Address : |
No. 86, 3rd Main, Income Tax Layout, Vijaya Nagar, Bangalore – 560040, Karnataka, India |
|
Date of Appointment : |
22.09.2016 |
|
PAN No: |
ADIPH2417B |
|
|
|
|
Name : |
Mr. Manish |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Alstom Transport Holding BV, Netherlands |
1293270157 |
|
V.V. Vipin |
1 |
|
Atla Srinivas |
1 |
|
Nitin Dham |
1 |
|
Amit Dave |
1 |
|
Vijay Kumar |
1 |
|
Hitesh Kumar |
1 |
|
|
|
|
Total |
1293270163 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of self-propelled railway or tramway coaches, vans and trucks, maintenance or
service. [Registered
Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
Customers : |
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|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
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No. of Employees : |
Information denied by the management |
|||||||||||||||||||||||||||
|
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|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
S. N. Dhawan and Company LLP Chartered Accountants |
|
Address : |
410, Ansal Bhavan, No. 16 Kasturba Gandhi Marg, New Delhi – 110001, India |
|
PAN No.: |
AAQFS0580H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding
Company : |
· Alstom, France |
|
|
|
|
Immediate Holding
Company : |
· Lstom Transport Holdings B.V., Netherlands |
|
|
|
|
Holding company : |
·
Alstom Transport Holdings B.V., Netherlands |
|
|
|
|
Fellow
Subsidiary company : |
· Alstom Transport (S) Pte Limited, Singapore · Alstom Transport SA, France · Alstom Belgium S.A., Belgium · Alstom Brasil Energia E Transporte Ltda, Brazil · Alstom Chile SA, Chile · Alstom Ferroviara S.p.A., Italy · Alstom Hong-Kong Limited, China · Alstom Investment Co Limited, China · Alstom ITC SAS, France · Alstom Manufacturing India Private Limited, India · Alstom Power Hellas S.A., Greece · Alstom Schienenfahrzeuge Limited, Switzerland · Alstom Transport Australia Pty Limited, Australia · Alstom Transport Hungary Zrt, Hungary · Alstom Transport Ireland Limited, Ireland · Shanghai Alstom Transport Electrical Equipment Company Limited, China · XI'AN Alstom Yongji Electric Equipment Co., Limited, China · Alstom Transport Technologies, France · Alstom Systems India Private Limited, India · Alstom Lokomotiven Service GmbH, Germany · Alstom Signaling Operations LLC, USA · Alstom Signaling Inc., USA · Alstom Transport Canada Inc., Canada · Alstom Transport Deutschland Gmbh, Germany · Alstom Transportation Inc., USA · Alstom Transporte, S.A., Spain · Madhepura Electric Locomotive Private Limited, India · Alstom Konstal Spolka Akcyjna, Poland · Alstom Holdings, France · Alstom Transport UK Limited, United Kingdom · GE Power India Limited (Formerly Alstom India Limited), India · GE T&D India Limited (Formerly Alstom T&D India Limited), India · Grid Equipments Private Limited (Formerly Grid Equipments Limited), India |
CAPITAL STRUCTURE
AFTER 27.09.2017
Authorised Capital : INR
28250.000 Million
Issued, Subscribed & Paid-up Capital : INR 15982.702 Million
AS ON 27.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1325000000 |
Equity Shares |
INR 10/- each |
INR 13250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1293270163 |
Equity Shares |
INR 10/- each |
INR 12932.702 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
12932.700 |
6295.900 |
4297.200 |
|
(b) Reserves & Surplus |
(7197.300) |
(4523.200) |
(2147.000) |
|
(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) |
5735.400 |
1772.700 |
2150.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
4.600 |
1209.100 |
1213.300 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
66.500 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
239.100 |
141.000 |
83.000 |
|
Total Non-current
Liabilities (3) |
243.700 |
1350.100 |
1362.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1800.000 |
1201.200 |
1060.000 |
|
(b) Trade
payables |
3653.700 |
1887.700 |
892.400 |
|
(c) Other
current liabilities |
7871.800 |
3751.000 |
2331.600 |
|
(d) Short-term
provisions |
282.200 |
541.800 |
1109.300 |
|
Total Current
Liabilities (4) |
13607.700 |
7381.700 |
5393.300 |
|
|
|
|
|
|
TOTAL |
19586.800 |
10504.500 |
8906.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2727.500 |
1831.400 |
1448.200 |
|
(ii)
Intangible Assets |
399.700 |
497.700 |
596.700 |
|
(iii)
Capital work-in-progress |
180.000 |
303.100 |
112.900 |
|
(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 |
934.600 |
600.300 |
363.500 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4241.800 |
3232.500 |
2521.300 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
728.000 |
211.200 |
209.500 |
|
(c) Trade
receivables |
3618.900 |
1967.000 |
1026.000 |
|
(d) Cash and
cash equivalents |
27.200 |
337.900 |
996.000 |
|
(e)
Short-term loans and advances |
2699.700 |
1877.700 |
1019.700 |
|
(f) Other
current assets |
8271.200 |
2878.200 |
3133.800 |
|
Total
Current Assets |
15345.000 |
7272.000 |
6385.000 |
|
|
|
|
|
|
TOTAL |
19586.800 |
10504.500 |
8906.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
11782.500 |
7394.500 |
4405.800 |
|
|
Other Income |
290.300 |
115.900 |
13.700 |
|
|
TOTAL |
12072.800 |
7510.400 |
4419.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6356.500 |
4750.000 |
2754.100 |
|
|
Employee benefit expense |
3861.800 |
2339.600 |
1188.900 |
|
|
Other expenses |
3791.300 |
1850.900 |
921.600 |
|
|
TOTAL |
14009.600 |
8940.500 |
4872.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(1936.800) |
(1430.100) |
(452.700) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
309.400 |
202.400 |
185.600 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(2246.200) |
(1632.500) |
(638.300) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
427.900 |
807.600 |
697.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(2674.100) |
(2440.100) |
(1336.200) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(63.900) |
(57.300) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(2674.100) |
(2376.200) |
(1278.900) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
1233.300 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
1233.300 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
3411.700 |
1999.700 |
1260.600 |
|
|
Capital Goods |
66.200 |
65.700 |
88.000 |
|
|
TOTAL IMPORTS |
3477.900 |
2065.400 |
1348.600 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(3.20) |
(4.30) |
(3.00) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(4490.400) |
(1307.900) |
(725.100) |
|
Net cash flows from (used in) operating activities |
(4824.700) |
(1368.300) |
(836.300) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
112.11 |
97.09 |
85.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.26 |
3.76 |
4.29 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
209.80 |
145.05 |
118.27 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(2.66) |
(6.77) |
(2.16) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.59) |
(0.54) |
(0.21) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.69 |
0.82 |
0.74 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.31 |
1.36 |
1.06 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.37 |
4.16 |
2.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.58 |
1.48 |
1.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(6.26) |
(7.07) |
(2.44) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
(22.70) |
(32.13) |
(29.03) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(13.65) |
(22.62) |
(14.36) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(46.62) |
(134.04) |
(59.48) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.13 |
0.99 |
1.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.07 |
0.96 |
1.15 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.29 |
0.17 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.14 |
0.38 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.13 |
0.99 |
1.18 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
4297.200 |
6295.900 |
12932.700 |
|
Reserves & Surplus |
(2147.000) |
(4523.200) |
(7197.300) |
|
Net
worth |
2150.200 |
1772.700 |
5735.400 |
|
|
|
|
|
|
Long-term borrowings |
1213.300 |
1209.100 |
4.600 |
|
Short term borrowings |
1060.000 |
1201.200 |
1800.000 |
|
Total
borrowings |
2273.300 |
2410.300 |
1804.600 |
|
Debt/Equity
ratio |
1.057 |
1.360 |
0.315 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4405.800 |
7394.500 |
11782.500 |
|
|
|
67.836 |
59.341 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4405.800 |
7394.500 |
11782.500 |
|
Profit/ (Loss) |
(1278.900) |
(2376.200) |
(2674.100) |
|
|
(29.03
%) |
(32.13
%) |
(22.70
%) |
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 |
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 |
No |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BUSINESS OPERATIONS AND FINANCIAL
PERFORMANCE
The past financial year has been marked by further consolidation of the Company’s presence in India. Having expanded their geographical footprint by winning strategic projects across India, the company is now delivering on their commitments to the satisfaction of their customers. Over the past year, two projects – Kochi Metro and Lucknow Metro, have successfully entered revenue service.
In addition to these opportunities where the company is directly involved, we are also a key supplier in the strategic projects of Madhepura e-loco, Eastern Dedicated Freight Corridor and Sydney Metro. Together, these projects span all the product lines of Alstom–trains, rail control, infrastructure and maintenance.
In line with the spirit of the ‘Make in India’ initiative, their Indian projects now have more than 80% local content. Having enhanced their technological and engineering capabilities in India, their twin engineering centres in Bangalore and manufacturing site in Coimbatore provide their supplies to overseas projects in Saudi Arabia, Germany and Sweden.
The above localisation initiatives and measures to improve efficiency have resulted in a much improved margin over the previous years. To cater to these opportunities, their headcount continues to grow steadily, crossing 3500 this year.
FUTURE OUTLOOK
As the metro revolution sweeps the country we see an immense scope of growth in the coming years. Mass transit systems would be implemented in every city with a two million plus population, and cities with pre-existing metro systems would engage in further extensions of their existing networks. The metro systems of Delhi, Mumbai, Bangalore and Chennai with over 200 km of cumulative planned extensions standout in this regard.
Massive opportunities can be seen with Indian Railways too with its ambitious modernisation drive. A renewed focus on safety and higher speed would result in upgrade of signalling systems of over 3500 km route length. Over 24000 km of tracks would be electrified in the next five years. Further, several key routes have been identified for upgrade to semi-high speed and very high speed levels. To cater to these requirements new rolling stock manufacturing facilities are planned. Together, these opportunities represent investment running into several lakh crores. The company is well positioned to capitalise on these opportunities and accordingly targets an annual order book of 500 ME by 2020.
FINANCIAL PERFORMANCE
The Company has improved in operational performance after its successful execution of ongoing projects and this affirms Company’s strong localisation in India as a result of its customer’s proximity strategy. On the financial performance, on account of various projects in the pipeline, the total income has increased to INR 12072.800 million from INR 7510.400 million in the previous year which has seen a growth rate of 61%. The Company has incurred a loss of INR 2674.100 million in the current year as against INR 2376.200 million in the previous year.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Term loans from others |
0.000 |
1200.000 |
|
|
|
|
|
Total |
0.000 |
1200.000 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHK |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.