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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

504783

Report Date :

20.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

STERLITE POWER TRANSMISSION LIMITED

 

 

Registered Office :

4th Floor, Godrej Millennium, 9 Koregaon Road, Pune – 411001, Maharashtra

Tel. No.:

91-124-6146000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

05.05.2015

 

 

Com. Reg. No.:

11-156643

 

 

Capital Investment / Paid-up Capital :

NIL

 

 

CIN No.:

[Company Identification No.]

U74120PN2015PLC156643

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAVCS7209P1ZB

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAVCS7209P

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of power transmission conductors, optical ground wire cables and power cable. [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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Sterlite Power Transmission Limited is the part of “Vedanta Group”. The company was incorporated in the year 2015.  It is a manufacturer of power transmission conductors, optical ground wire cables and power cable cables.

 

Management has failed to file its financials with Registrar of Companies for the FY 2017.

 

As per the available financial of 2016, the company has earned revenue of INR. 23326.700 million but has incurred operational losses.

 

The moderate financial profile of the company is marked by negative reserve base along with negligible debt level.

 

However, rating takes into consideration strong financial and managerial support that company receives from Vedanta Group backed by its well experienced management team.

 

Payments seems to be slow.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

 

Note: As per the current press release The Hon’ble High Court of Judicature at Bombay as on April 22, 2016 has approved the scheme of Arrangement for Demerger of the Power Products and Transmission Grid Business of Sterlite Technologies Limited (STL) into Sterlite Power Transmission Limited (SPTL) with effect from May 23, 2016.

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

Brickworks

Rating

Non-convertible cumulative redeemable preference shares : A- (Withdrawal)

Rating Explanation

Adequate degree of safety and low credit risk.

Date

06.03.2018

 

Reason for withdrawn: On account off redemption

 

 

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 31-03-2016.

 

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 20.04.2018

 

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

 

MANAGEMENT NON-COOPERATIVE (91-9831123107)

 

91-1334-238410 (Ringing)

 

LOCATIONS

 

Registered Office :

4TH Floor, Godrej Millennium, 9 Koregaon Road, Pune-411001, Maharashtra, India 

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

secretarial@sterlite.com 

power.hr@sterlite.com

cbu4.paymentadvice@sterlite.com

Website :

https://sterlitepower.com

 

 

Sales Office 1:

202, Pentagon Towers-II, Magarpatta City, Hadapsar, Pune-411028, Maharashtra, India

 

 

Sales Office 2:

IFFCO Tower, 3rd Floor, Plot No. 3, Near IFFCO Chowk Metro Station,
Sector 29, Gurgaon - 122001, Haryana, India.

Tel. No.:

91-124-6146000‎

 

 

Grid Office :

F-1, Mira Corporate Suits, 1 and 2, Mathura Road, Ishwar Nagar, New Delhi - 110065, India

Tel. No.:

91-11-49962200

E-Mail :

power.communications@sterlite.com

 

 

Branch Office 1:

PTB Division, Survey No 99 And 86, Madhuban Dam Road, Rkholi, Silvassa 396230, UT of Dadra and Nagar Haveli (U.T.), India

 

 

Branch Office 2:

Plot #5, Vardhaman Industrial Estate, Behind Patanjali Yogpeeth, Haridwar -  249402, Uttarakhand, India

Tel. No.:

91-1334-238410

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Pratik Pravin Agarwal

Designation :

Managing Director

Address :

403-A, 3rd Floor, Samudra Mahal, A-Wing, Opposite Lotus, Dr A.B. Road, Worli Mumbai -400018, , Maharashtra, India

Date of Birth/Age :

02.12.1982

Qualification:

Bachelor’s in Economics from Wharton, Pennsylvania and MBA from London Business School

Date of Appointment :

01.06.2016

DIN No.:

03040062

PAN No.:

ADYPA7745D

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

L31300MH2000PLC269261

STERLITE TECHNOLOGIES LIMITED

06/08/2013

-

U08022KA2002NPL030879

PRAGUN JINDAL PHILANTHROPIC ORGANISATION

25/07/2013

-

U28113TN2010PLC083718

STERLITE INVESTMENT MANAGERS LIMITED

07/07/2012

-

U27203KA1970PLC002806

JINDAL ALUMINIUM LIMITED.

22/07/2013

-

U33120PN2014PLC172393

STERLITE POWER GRID VENTURES LIMITED

03/06/2014

-

U64200DL2017PLC327427

STERLITE INTERLINKS LIMITED

20/12/2017

-

 

 

Name :

Mr. Arun Lalchand Todarwal

Designation :

Director

Address :

81, Shivner 84, Nepean Sea Road, Mumbai - 400006, Maharashtra, India

Date of Appointment :

17.08.2016

DIN No.:

00020916

Other directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L51100GJ2000PLC037204

WELSPUN GLOBAL BRANDS LIMITED

28/09/2010

-

U74999MH2005PLC153211

STERLITE GRID 2 LIMITED

30/09/2014

-

L27204RJ1966PLC001208

HINDUSTAN ZINC LIMITED

15/06/2015

-

U63032MH2003PTC142871

LAKECITY VENTURES PRIVATE LIMITED

30/09/2008

-

U31300TN2001PLC069645

MALCO ENERGY LIMITED

30/03/2015

-

U40104PN2010PLC135953

STERLITE GRID 1 LIMITED

30/09/2014

-

U65990WB2009PTC139790

SREI MUTUAL FUND TRUST PRIVATE LIMITED

05/07/2012

-

U71210GJ2004PLC045144

WELSPUN GLOBAL BRANDS LIMITED

31/12/2012

-

U27109WB1993PTC058804

PTC CABLES PVT LTD

21/06/2017

-

L24230MH1960PLC011586

ANUH PHARMA LIMITED

16/09/2009

-

L17110GJ1985PLC033271

WELSPUN INDIA LIMITED

31/12/2012

-

L31300MH2000PLC269261

STERLITE TECHNOLOGIES LIMITED

25/01/2003

-

L27204RJ1966PLC001208

HINDUSTAN ZINC LIMITED

11/03/2018

-

 

 

Name :

Mr. Pravin Agarwal

Designation :

Director

Address :

117 Koregaon Park, Pune- 411001, , India

Date of Birth/Age :

16.10.1954

Qualification:

Bachelor's Degree in Commerce

Date of Appointment :

05.05.2015

DIN No.:

00022096

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U72900GJ1999PTC037038

ELITECORE TECHNOLOGIES PRIVATE LIMITED

29/09/2015

-

L31300MH2000PLC269261

STERLITE TECHNOLOGIES LIMITED

30/10/2006

-

U64200DN2009PLC000305

STERLITE INFRA-TECH LIMITED

07/12/2009

-

U33120PN2014PLC172393

STERLITE POWER GRID VENTURES LIMITED

03/06/2014

-

U74900HR2015PLC072064

TWIN STAR TECHNOLOGIES LIMITED

21/01/2015

-

U74900HR2015PLC072063

TWIN STAR DISPLAY TECHNOLOGIES LIMITED

22/06/2015

-

 

 

Name :

Mr. Anand Gopaldas Agarwal

Designation :

Director

Address :

Flat No. 401, Amar Eternity, Baner Road, Sr.No. 13, Someshwarwadi, Pune - 411008, , India

Date of Appointment :

05.05.2015

DIN No.:

00057364

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U72900GJ1999PTC037038

ELITECORE TECHNOLOGIES PRIVATE LIMITED

29/09/2015

-

L64200MH1995GAP087395

STERLITE TELECOM LIMITED

30/07/2003

-

U74140MH1998PLC115498

STERLITE TELELINK LIMITED

30/07/2003

-

L31300MH2000PLC269261

STERLITE TECHNOLOGIES LIMITED

30/07/2009

-

U64200DN2009PLC000305

STERLITE INFRA-TECH LIMITED

07/12/2009

-

U74900HR2015PLC072064

TWIN STAR TECHNOLOGIES LIMITED

21/01/2015

-

U74900HR2015PLC072063

TWIN STAR DISPLAY TECHNOLOGIES LIMITED

22/06/2015

-

 

 

Name :

Ms. Avaantika Rajesh Kakkar

Designation :

Director

Address :

A 1201, Sea Flama, Dosti Flamingos, T J Road, Parel, Sewri, Mumbai - 400015, Maharashtra, India

Date of Appointment :

17.08.2016

DIN No.:

06966972

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U40108DL2009PLC194057

JABALPUR TRANSMISSION COMPANY LIMITED

30/09/2015

-

L40102DL2009PLC194071

BHOPAL DHULE TRANSMISSION COMPANY LIMITED

30/09/2016

-

U40105DL2012GOI246263

PURULIA & KHARAGPUR TRANSMISSION COMPANY LIMITED

30/09/2015

-

L40102DL2007PLC158625

EAST-NORTH INTERCONNECTION COMPANY LIMITED

30/09/2016

-

U40106DL2013GOI256050

NRSS XXIX TRANSMISSION LIMITED

30/09/2015

-

U33120PN2014PLC172393

STERLITE POWER GRID VENTURES LIMITED

04/08/2015

-

L31300MH2000PLC269261

STERLITE TECHNOLOGIES LIMITED

04/08/2015

-

U40105DL2012GOI246546

RAPP TRANSMISSION COMPANY LIMITED

30/09/2015

-

 

 

Name :

Mr. Lalit Narayan Tandon

Designation :

Director

Address :

A-1403, Concept Unnathi, Plot No. 69A B E And F Sector-21, Kharghar, Raigarh - 410210, Maharashtra, India

Date of Appointment :

17.08.2016

DIN No.:

07288368

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

L40102DL2007PLC158625

EAST-NORTH INTERCONNECTION COMPANY LIMITED

30/09/2016

-

U40108DL2009PLC194057

JABALPUR TRANSMISSION COMPANY LIMITED

30/09/2016

-

L40102DL2009PLC194071

BHOPAL DHULE TRANSMISSION COMPANY LIMITED

30/09/2016

-

U32202DN2011PLC000373

SPEEDON NETWORK LIMITED

30/09/2016

-

U64201MH2012PLC234316

MAHARASHTRA TRANSMISSION COMMUNICATION INFRASTRUCTURE LIMITED

29/09/2016

-

U40105DL2012GOI246263

PURULIA & KHARAGPUR TRANSMISSION COMPANY LIMITED

30/09/2016

-

U40106DL2013GOI256050

NRSS XXIX TRANSMISSION LIMITED

30/09/2016

-

U40105DL2012GOI246546

RAPP TRANSMISSION COMPANY LIMITED

30/09/2016

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Ashok Ganesan

Designation :

Company Secretary

Address :

Bd9d, Block BD DDA Flats, Munirka, New Delhi - 110067, India

Date of Appointment :

29.05.2017

PAN No.:

AHYPK5104G

 

 

Name :

Mr. Pratik Pravin Agarwal

Designation :

Chief Executive Officer

Address :

403-A, 3rd Floor, Samudra Mahal, A-Wing, Opposite Lotus, Dr A.B. Road, Worli Mumbai -400018, , Maharashtra, India

Date of Birth/Age :

02.12.1982

Qualification:

Bachelor’s in Economics from Wharton, Pennsylvania and MBA from London Business School

Date of Appointment :

01.06.2016

PAN No.:

ADYPA7745D

 

 

Name :

Mr. Harsh Dinesh Shah

Designation :

Chief Finance Officer

Address :

T-7/802, Parsvnath Prestige-2, Sector-93a, Noida, Gautam Buddha Nagar, Maharishi Nagar, Noida - 201304, Uttar Pradesh, India

Date of Birth/Age :

28/10/1983

Qualification:

MBA from the National University of Singapore and Bachelor of Electrical Engineering at Gujarat University

Date of Appointment :

01.06.2016

PAN No.:

ARAPS4885L

 

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2016

 

Names of Shareholders

No. of Shares

Sterlite Technologies Limited, India

 

249994

Pravin Agarwal [Nominee of Sterlite Technologies Limited]

 

1

Anand Gopaldas Agarwal [Nominee of Sterlite Technologies Limited]

 

1

Anupam Jindal [Nominee of Sterlite Technologies Limited]

 

1

Navin Ashok Kumar Sharma [Nominee of Sterlite Technologies Limited]

 

1

Swapnil Prakash Patil [Nominee of Sterlite Technologies Limited]

 

1

Mrunal Dixit [Nominee of Sterlite Technologies Limited]

 

1

Total

 

250000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 17.08.2016

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

0.0024

Promoters- Body corporate

99.9976

Total

100.00

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of power transmission conductors, optical ground wire cables and power cable. [Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Power Transmission Conductor

3499

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

RBL Bank Limited

Branch :

Shahupuri, Kolhapur – 416001, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • Corporation Bank, Corporate Banking Branch, B104, Bharat House, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India
  • Bank of Maharashtra, Lokmangal, 1501,Shivajinagar, Pune - 411005, Maharashtra, India
  • Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India,Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
  • Deutsche Bank AG, Ground Floor, ECE House, 28 KG Marg, New Delhi – 110001, India
  • The Federal Bank Limited, Federal Tower SP B No 103ALWAYE Ernakulam – 683101, Kerala, India
  • Export Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

 

 

Facilities :

(INR In Million)

SECURED LOAN

 

As on

31.03.2016

LONG TERM BORROWING

 

 

Term loans from banks

 

2361.800

Term loans from others

 

2000.000

Long-term maturities of finance lease obligations

 

5.300

SHORT TERM BORROWING

 

 

Term loans from banks

 

0.100

Term loans from others

 

516.500

Working capital loans from banks

 

2300.000

Total

 

7183.700

 

Auditors :

 

Name :

S R B C and Company LLP

Chartered Accountants

Address :

C 401 Fourth Floor Panchshil Tech Park, Yerwada, Pune – 411006, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

ACHFS9117R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company # (AS ON 31.03.2016):
  • Twin Star Overseas Limited, Mauritius (Immediate holding company)
  • Volcan Investments Limited, Bahamas (Ultimate holding company)

 

 

Subsidiaries (AS ON 31.03.2016):
  • Sterlite Power Grid Ventures Limited*, India [U33120DN2014PLC000454]
  • Sterlite Grid Limited*
  • Sterlite Grid 2 Limited*
  • Sterlite Grid 3 Limited*
  • Sterlite Grid 4 Limited
  • East North Interconnection Company Limited*
  • Jabalpur Transmission Company Limited*
  • Bhopal Dhule Transmission Company Limited*
  • Purulia & Kharagpur Transmission Company Limited*
  • RAPP Transmission Company Limited*
  • NRSS XXIX Transmission Limited*
  • Maheshwaram Transmission Limited (MTL)

 

# Since the Company has been demerged from Sterlite Technologies Limited ('STL'), holding companies as above have been considered based on the shareholding structure of STL.

 

* Transferred from STL under the Scheme of arrangement for demerger of power business

 

 

Fellow subsidiaries (AS ON 31.03.2016):
  • Vedanta Limited, India [L13209MH1965PLC291394]
  • Fujairah Gold FZE
  • Bharat Aluminium Company Limited
  • Hindustan Zinc Limited
  • Twinstar Technologies Limited
  • Sterlite Technologies Limited, India [L31300MH2000PLC269261]

 

 

CAPITAL STRUCTURE

 

AFTER 17.08.2016

 

Authorised Capital : INR 232.800 Million

 

Issued, Subscribed & Paid-up Capital : INR 158.364 Million

 

AS ON 17.08.2016

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

80000000

Equity Shares

INR 2/- each

INR 160.000 Million

36000000

Redeemable preference shares

INR 2/- each

INR 72.000 Million

 

 

 

 

 

Total

 

INR 232.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000

Equity Shares

INR 2/- each

INR 0.500 Million

 

 

 

 

 

AS ON 31.03.2016

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

80000000

Equity Shares

INR 2/- each

INR 160.000 Million

36000000

Redeemable preference shares

INR 2/- each

INR 72.000 Million

 

 

 

 

 

Total

 

INR 232.000 Million

 

Issued, Subscribed & Paid-up Capital : NIL

 

 

FINANCIAL DATA

[all figures are INR Million]

 

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

 

 

 

05.05.2015 to

31.03.2016

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

0.000

(b) Reserves and Surplus

 

 

(1088.200)

(c) Money received against share warrants

 

 

8880.900

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

7792.700

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

4367.100

(b) Deferred tax liabilities (Net)

 

 

57.500

(c) Other long-term liabilities

 

 

0.000

(d) long-term provisions

 

 

18.800

Total Non-current Liabilities (3)

 

 

4443.400

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

 

 

5316.600

(b) Trade payables

 

 

5307.600

(c) Other current liabilities

 

 

3817.600

(d) Short-term provisions

 

 

20.800

Total Current Liabilities (4)

 

 

14462.600

 

 

 

 

TOTAL

 

 

26698.700

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

2243.300

(ii) Intangible Assets

 

 

2580.000

(iii) Tangible assets capital work-in-progress

 

 

4.700

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

12481.000

(c) Deferred tax assets (net)

 

 

0.000

(d) Long-term loans and advances

 

 

150.100

(e) Other Non-current assets

 

 

30.000

Total Non-Current Assets

 

 

17489.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

500.000

(b) Inventories

 

 

2151.800

(c) Trade receivables

 

 

4038.100

(d) Cash and bank balances

 

 

1525.800

(e) Short-term loans and advances

 

 

978.800

(f) Other current assets

 

 

15.100

Total Current Assets

 

 

9209.600

 

 

 

 

TOTAL

 

 

26698.700

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

 

 

05.05.2015 to

31.03.2016

 

SALES

 

 

 

 

Income

 

 

23326.700

 

Other Income

 

 

30.900

 

TOTAL

 

 

23357.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

 

17694.100

 

Purchases of Stock-in-Trade

 

 

340.600

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

 

126.900

 

Employee benefit expense

 

 

362.500

 

Other expenses

 

 

3191.800

 

TOTAL

 

 

21715.900

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

 

1641.700

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

 

1735.700

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

 

(94.000)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

994.200

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

(1088.200)

 

 

 

 

 

Less

TAX

 

 

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

 

 

(1088.200)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

 

 

6506.500

 

TOTAL EARNINGS

 

 

6506.500

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

 

 

7201.700

 

Components and spare parts

 

 

58.400

 

Capital Goods

 

 

29.200

 

TOTAL IMPORTS

 

 

7289.300

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

0.00

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

 

05.05.2015 to

31.03.2016

 

 

 

 

Current Maturities of Long term debt

 

 

1757.800

 

 

 

 

Cash generated from operations

 

 

NA

 

 

 

 

Net cash flows from (used in) operations

 

 

1655.700

 

 

 

 

Net cash flows from (used in) operating activities

 

 

1627.800

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

 

05.05.2015 to

31.03.2016

Average Collection Days

(Sundry Debtors / Income * 365 Days)
 

 

63.19

 
 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)
 

 

5.78

 
 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)
 

 

107.42

 
 

 

 

Inventory Turnover

(Operating Income / Inventories)
 

 

0.76

 
 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)
 

 

0.34

LEVERAGE RATIOS

 

PARTICULARS

 

 

 

05.05.2015 to

31.03.2016

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)
 

 

0.77

 
 

 

 

Debt Equity Ratio

(Total Liability / Networth)
 

 

1.47

 
 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)
 

 

1.86

 
 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)
 

 

0.62

 
 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)
 

 

0.95

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

 

 

05.05.2015 to

31.03.2016

Net Profit Margin

((PAT / Sales) * 100)

%
 

 

(4.67)

 

 
 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%
 

 

(4.08)

 

 
 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%
 

 

(13.96)

 

SOLVENCY RATIOS

 

PARTICULARS

 

 

 

05.05.2015 to

31.03.2016

Current Ratio

(Current Assets / Current Liabilities)
 

 

0.64

 
 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)
 

 

0.49

 
 

 

 

G-Score Ratio Financial

(Networth / Total Assets)
 

 

0.29

 
 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)
 

 

0.00

 
 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)
 

 

0.64

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

 

05.05.2015 to

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

0.000

(b) Share capital suspense account

 

 

8880.900

(c) Reserves & Surplus

 

 

(2021.800)

(d) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Optionally Convertible Preference Shares

 

 

4545.500

Total Shareholders’ Funds (1) + (2)

 

 

11404.600

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

45416.900

(b) Deferred tax liabilities (Net)

 

 

57.500

(c) Other long term liabilities

 

 

0.000

(d) long-term provisions

 

 

32.700

Total Non-current Liabilities (3)

 

 

45507.100

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

9558.300

(b) Trade payables

 

 

5337.500

(c) Other current liabilities

 

 

7887.100

(d) Short-term provisions

 

 

40.100

Total Current Liabilities (4)

 

 

22823.000

 

 

 

 

TOTAL

 

 

79734.700

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

55012.000

(ii) Intangible Assets

 

 

3257.100

(iii) Capital work-in-progress

 

 

7755.100

(iv) Intangible assets under development

 

 

1.800

(b) Non-current Investments

 

 

0.000

(c) Deferred tax assets (net)

 

 

262.200

(d)  Long-term Loan and Advances

 

 

1565.900

(e) Other Non-current assets

 

 

299.800

Total Non-Current Assets

 

 

68153.900

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

836.000

(b) Inventories

 

 

2151.800

(c) Trade receivables

 

 

4778.000

(d) Cash and cash equivalents

 

 

1805.200

(e) Short-term loans and advances

 

 

1223.900

(f) Other current assets

 

 

785.900

Total Current Assets

 

 

11580.800

 

 

 

 

TOTAL

 

 

79734.700

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

 

05.05.2015 to

31.03.2016

 

SALES

 

 

 

 

Income

 

 

25542.800

 

Other Income

 

 

112.800

 

TOTAL

 

 

25655.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

 

15103.700

 

Purchases of Stock-in-Trade

 

 

332.900

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

 

126.900

 

Employees benefits expense

 

 

471.200

 

Other expenses

 

 

3672.900

 

TOTAL

 

 

19707.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

 

5948.000

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

 

5523.600

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

 

424.400

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

2635.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

(2210.600)

 

 

 

 

 

Less

TAX

 

 

(143.300)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

 

(2067.300)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

(206.73)

 

 

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

No

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

No

26

Turnover of firm for last eleven months

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last eleven months

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

 

CORPORATE INFORMATION (AS ON 31.03.2016):

 

Subject is a public company domiciled in India and incorporated on May 5, 2015 under the provisions of the Companies Act, 2013.The Company was incorporated with the object of carrying out business of power products and solutions.

 

Power products and solutions mainly includes power transmission conductors, optical ground wire cables and power cable.

 

Power products and solutions business has been transferred from Sterlite Technologies Limited under a Scheme of Arrangement with effect from 1 April 2015.

 

BUSINESS OVERVIEW (AS ON 31.03.2016):

 

 

The company is a prime pillar of India’s road to 24x7 Power for All. Positioned as one of the largest conductor manufacturer’s worldwide, only domestic OPGW manufacturer, EHV cables manufacturer and uniquely placed Master Integration Services SPTL is at the forefront of India’s foray to developed countries.

 

The company can manufacture more than 1,45,000 MT of conventional conductors annually and more than 2400 Km HPC per annum. Similarly the company’s cable manufacturing capacity is 1800 Km.

 

For the dynamic market needs and increase in power and infrastructural projects in India and overseas, the company is using latest technologies, best quality products and most versatile solutions that can work across India and world.

 

SECTOR OUTLOOK (AS ON 31.03.2016):

 

Electricity is one of the most essential and a major asset for any country. Despite the phenomenal growth in generation capacity over the years, India is grappling with a power deficit situation with over 15.5 million below poverty line households and 9,500 villages are still devoid of electricity. The per capita consumption of India at around 1000 per capita is almost one third of global average. Similarly, financial health of Discoms has been the weakest link of entire power value chain with losses more than 3.6 lakh crores. Their Government is leaving no stone unturned and has come out with pack of solutions to bring forth India on par with global platform.

 

Initiatives like UDAY and centre’s focus on bringing competition in intra-state transmission market is forward looking and in tandem with the plan of 24x7 Power for All. In last five years inter-state network grew at a CAGR of almost 10% while the growth for intra-state network has been at a CAGR of 4.3%.

 

Also government plans to add 175 GW of RE by 2022 and 122 GW of conventional capacity is also likely to be added by 2022. Hence transmission capacity is required to support these huge generation capacities coming up. Investments worth $50 billion in transmission space are expected over the course of next 5 years. The Company is not only ready to capture this opportunity but also uniquely positioned to cater to all the needs of the Indian Power Sector and the world to bring the era of electrified economy globally.

 

 

 

DEMERGER OF TELECOM AND POWER PRODUCTS AND TRANSMISSION GRID BUSINESS (AS ON 31.03.2016):

 

(i) The Hon’ble High Court of Judicature at Bombay had on April 22, 2016 approved the Scheme of Arrangement for demerger of the Power Products and Transmission Grid Business of Sterlite Technologies Limited (“STL”) into Sterlite Power Transmission Limited (“SPTL”) effective from May 23, 2016. This Scheme was approved by the Shareholders, Secured Creditors and Unsecured Creditors of STL at the Court Convened Meetings held on December 15, 2015. The appointed date for the Demerger was April 01, 2015.

 

Upon the effective implementation of the Scheme the Company will focus on the growth opportunities in the Power Products and Transmission Grid Business and the shareholders of STL, towards consideration of the demerger, will be issued, equity shares or redeemable preference shares of the Company in the manner detailed below -(i) Resident Indian shareholders of STL on the record date can choose from options as per their investment objectives. They may opt to: (i) receive 1 (one) equity share in SPTL for every 5 (five) equity shares with face value of INR 2 each in STL that they hold; or (ii) receive 1 (one) fully paid-up Redeemable Preference Share of INR 2 each at a premium of INR 110.30 per redeemable preference share in SPTL for every 5 (five) equity shares of INR  2 each in STL that they hold, with an option of seeking voluntary exit as per the Scheme.

 

(ii) Non-resident shareholders (excluding Foreign Institutional Investors (“FIIs”)) of STL on the record date would be entitled to receive 1 (one) equity share in SPTL for every 5 (five) equity shares with face value of INR 2 each in STL that they hold. All such equity shares that are issued and allotted to non-resident shareholders of STL (excluding FIIs), subject to applicable law, will be immediately purchased by the promoters of STL and/ or their affiliates or any other person and/or entity nominated by them as per the Scheme.

 

(iii) FII shareholders of STL on the record date, subject to receipt of approval from the appropriate regulatory authorities can choose from options as per their investment objectives. They may opt to: (i) receive 1 (one) Redeemable Preference Share in SPTL for every 5 (five) equity shares of STL that they hold; or (ii) receive 1 (one) equity share in SPTL for every 5 (five) equity shares with face value of INR 2 each in STL that they hold which will be purchased by the promoters of STL and/or their affiliates or any other person and/or entity nominated by them as per the Scheme.

 

The equity shares of SPTL will not be listed on any stock exchange and the redeemable preference shares issued pursuant to the Scheme shall be listed on BSE Limited and the National Stock Exchange of India Limited.

 

UNSECURED LOANS:

(INR In Million)

Particulars

 

As on

31.03.2016

SHORT TERM BORROWING

 

 

Term loans from others

 

2500.000

Total

 

2500.000

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

AMOUNT

ADDRESS

1

G74086182

100148124

AXIS TRUSTEE SERVICES LIMITED

17/01/2018

-

8250000000.0

AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN

2

G75202457

100150405

CLIX CAPITAL SERVICES PRIVATE LIMITED

06/12/2017

-

2030000000.0

E-20, 1ST FLOORHAUZ KHASNEW DELHIDL110016IN

3

G47833108

100108027

RBL BANK LIMITED

28/06/2017

-

1000000000.0

SHAHUPURI,KOLHAPUR,KOLHAPURMH416001IN

4

G47422662

100107269

IDBI TRUSTEESHIP SERVICES LIMITED

16/06/2017

-

9250000000.0

ASIAN BUILDING, GROUND FLOOR,17.R. KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN

5

G44836724

100100283

CORPORATION BANK

19/05/2017

-

1800000000.0

CORPORATE BANKING BRANCH, B104, BHARAT HOUSE,MUMBAI SAMACHAR MARG, FORT, MUMBAIMUMBAIMH400023IN

6

G44881829

100100303

BANK OF MAHARASHTRA

19/05/2017

-

1050000000.0

LOKMANGAL, 1501,SHIVAJINAGARPUNEMH411005IN

7

G39684121

100086955

YES BANK LIMITED

02/03/2017

-

1050000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLIMUMBAIMH400018IN

8

G36136349

100077769

DEUTSCHE BANK AG

10/02/2017

-

300000000.0

GROUND FLOOR, ECE HOUSE,28 KG MARGNEW DELHIDL110001IN

9

G35197128

100076126

AXIS TRUSTEE SERVICES LIMITED

06/02/2017

-

500000000.0

AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN

10

G33341678

100072221

SOCIETE GENERALE

09/01/2017

-

510000000.0

UPPER GROUND FLOOR, AMBADEEP BUILDING,14, KASTURBA GANDHI MARG,NEW DELHIDL110001IN

11

G33993999

100073507

AXIS TRUSTEE SERVICES LIMITED

06/01/2017

12/01/2017

6336000000.0

AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN

12

G72812449

100067404

THE FEDERAL BANK LTD

20/12/2016

26/12/2017

1200000000.0

FEDERAL TOWERSP B NO 103ALWAYEERANAKULAMKE683101IN

13

G34125450

100074452

HDFC BANK LIMITED

20/12/2016

-

1000000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

14

G30251748

100066753

BANK OF BARODA

30/11/2016

-

3710000000.0

CORPORATE FINANCIAL SERVICES BRANCHMANTRI COURT, 1ST FLOOR, 39-RAMABAI AMBEDKAR ROAD,PUNEMH411001IN

15

G31989098

100069375

UNION BANK OF INDIA

30/11/2016

-

1650000000.0

INDUSTRIAL FINANCE BRANCH, FIRST FLOOR, UNION BANKBHAVAN, 239, VIDHAN BHAWAN MARGMUMBAIMH400021IN

16

G15909088

100055252

STATE BANK OF INDIA

10/10/2016

-

5798000000.0

CORPORATE ACCOUNTS GROUP BRANCH, 3RD FLOORJ.N. HEREDIA MARG, BALLARD ESTATEMUMBAIMH400001IN

17

G31416175

100068268

INDUSIND BANK LTD.

12/09/2016

-

900000000.0

2401 GEN THIMMAYYA ROADCONTONMENTPUNEMA411001IN

18

G20400305

100058740

IDBI BANK LIMITED

17/08/2016

-

1800000000.0

IDBI TOWER, WTC COMPLEX,CUFFE PARADEMUMBAIMH400005IN

19

G08473167

100041644

AXIS BANK LIMITED

16/07/2016

-

3600000000.0

TRISHUL, 3RD FLOOR, OPP SAMARTHESHWAR TEMPLE LAWGARDEN ELLISBRIDGEAHMEDABADGJ380006IN

20

G74019894

100040847

EXPORT IMPORT BANK OF INDIA

14/07/2016

11/01/2018

1200000000.0

CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN

21

G08329310

100041200

ICICI BANK LIMITED

01/07/2016

-

3500000000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGU390015IN

22

G15979750

100034220

AXIS TRUSTEE SERVICES LIMITED

17/06/2016

10/10/2016

2336000000.0

AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN

 

FIXED ASSETS:

 

Tangible assets

 

  • Land
  • Buildings
  • Furniture and fixtures
  • Office equipment
  • Vehicles
  • Computer equipments

 

Intangible assets

 

  • Goodwill

 

PRESS RELEASES

 

STERLITE POWER ACQUIRES GOA-TAMNAR TRANSMISSION PROJECT FOR RS 15000.000 MILLION

MARCH 20, 2018

 

​The project is expected to deliver an incremental 400 Kilovolt feed to Goa and scale up the transmission network for power evacuation from generation projects pooled at Raigarh in Chattisgarh.

 

New Delhi: Sterlite Power, a private power transmission company, today announced it has acquired Goa-Tamnar Transmission Project Limited for INR 15000.000 Million.


The project is expected to deliver an incremental 400 Kilovolt feed to Goa and scale up the transmission network for power evacuation from generation projects pooled at Raigarh in Chattisgarh.


The company said the acquisition will enable Goa to absorb projected incremental power demand of 1200 Megawatt by 2021-22 and create an alternate path of evacuation for the Raigarh pool.


Sterlite Power’s Group Chief Executive Officer (CEO) Pratik Agarwal said the will create higher quality of power supply across the two states. “With this acquisition, we have increased our footprint of inter-state transmission projects to 21 states. Significantly, we are committed to delivering this project ahead-of- schedule,” he said.

Sterlite Power is a global developer of power transmission infrastructure with projects of over 10,000 circuit kilometres and 15,000 Milli Volt Ampere (MVA) in India and Brazil.

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records 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 65.78

UK Pound

1

INR 93.42

Euro

1

INR 81.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHL

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

KVT

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.