|
|
|
MIRA INFORM REPORT
|
Report No. : |
504216 |
|
Report Date : |
20.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
MUNDRA SOLAR PV LIMITED |
|
|
|
|
Registered
Office : |
Adani House, Near Mithakhali Six Roads, Navrangpura, Ahmedabad - 380009
Gujarat |
|
Tel. No.: |
91-79-26565555/25556300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.06.2015 |
|
|
|
|
Com. Reg. No.: |
04-083378 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 3000.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999GJ2015PLC083378 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0815006926 |
|
|
|
|
GSTIN : [Goods & Service Tax Registration No.] |
24AAJCM7672A1ZJ |
|
|
|
|
TIN No : |
24073407091 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCM7672A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Solar Photovoltaic Equipments and Ancilliaries. (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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2015 and is a subsidiary of
‘Adani Green Energy Limited. The company is engaged in manufacturing of solar panel. The company has not earned income from its operations during the year
under the review. The company possesses moderate financial position marked by negative
reserve base along with high debt balance sheet profile. Rating takes into consideration the equity infused by its promoters. Rating also takes into consideration the strength that the company
derives from its holding company and its experienced management team. Business is active. Payments seems to be slow. In view of the aforesaid, the company can be considered for business
dealing with some caution. |
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 |
INDIA RATING |
|
Rating |
Long term loans = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
09.03.2018 |
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Short term loans = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
09.03.2018 |
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 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 DECLINED
Management non-cooperative (Tel No.:91-79-25556300)
LOCATIONS
|
Registered Office : |
Adani House, Near Mithakhali Six Roads, Navrangpura, Ahmedabad -
380009 Gujarat, India |
|
Tel. No.: |
91-79-26565555/25556300 |
|
Fax No.: |
91-79-25555500 |
|
Email: |
|
|
Website: |
|
|
|
|
|
Corporate Office: |
Survey 180P and Others, Village- Tunda, Taluka: Mundra, Kachchh-370421, Gujarat, India |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Narayanasamy Devendran |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
F515, Jalvayu Towers, Sector 56, Gurugram -122011, Haryana, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.08.1969 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.E., M.B.A. |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.06.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AGMPD7931K |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06771657 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajesh Kumar Jha |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
House No. H-7, H-8, Nishant Vihar, Near Aashiana Trade Centre, Adityapur, Seraikela-Khars Awan, Jamshedpur – 831013, Jharkhand, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.11.1956 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Bachelor in Engineering and Metallurgical |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.08.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAXPJ8308B |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03387711 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Dev Prakash Joshi |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B/802 Scarlet Heights, Anand Nagar Road, Opp. Rahul Towers, Satellite Ahmedabad - 380015, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.04.1956 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.E. (Electrical) |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.06.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AEMPJ3158E |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05192222 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajiv Kumar Rustagi |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-1, Satya Triveni Apartment, Ramdevnagar, Satellite,
Ahmedabad – 380015, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.02.1963 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Chartered Accountant |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.06.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAGPR2840B |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07193069 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Sushama Ashvin Oza |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
G-2, Chitrakut Apartment, 36, Suvarnapuri Society, Off. Jetalpur Road, Vadodara – 390007, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.05.1961 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
MSW |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.08.2016 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAGPO1724P |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07145540 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Kumar Tiwary |
|
Designation : |
Chief Finance Officer |
|
Address : |
Sagar Darshan Co-Operative Housing Society, Flat 102,
Tower 1, Sector 18 Nerul, Plot 38, Navi Mumbai – 400706, Maharashtra, India |
|
Date of Appointment : |
30.05.2016 |
|
Date of Birth/Age : |
22.05.1971 |
|
Qualification : |
CA, CS |
|
PAN No.: |
ABJPT3174G |
|
|
|
|
Name : |
Mr. Harit Kumar |
|
Designation : |
Company Secretary |
|
Address : |
Near Purana Pipala, 4 Infront Of 154 Mithlapuri Ph Deelapeer, Bareilly -243122, Uttar Pradesh, India |
|
Date of Birth/Age : |
26.01.1986 |
|
Qualification : |
CA, CS |
|
Date of Appointment : |
10.02.2017 |
|
PAN No.: |
AVPPK9819F |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Adani Green Technology Limited |
30,00,00,000 |
100.00 |
|
Total |
30,00,00,000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Solar Photovoltaic Equipments and Ancilliaries. (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 : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Shah and Shah Associates Chartered Accountants |
|
Address : |
702, Aniket, Near Municipal Market, C G Road, Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAHFS7036F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate
Controlling Entity : |
|
|
|
|
|
Ultimate Parent
Company : |
|
|
|
|
|
Intermediate Parent
Entity : |
|
|
|
|
|
Parent Company : |
|
|
|
|
|
Fellow Subsidiary : |
|
|
|
|
|
Entities over which
ultimate Controlling entity, key Management personnel, Directors and their
relative are able to exercise significant Influence. |
|
|
|
|
|
Holding Company : |
CIN No.:U40106GJ2015PLC082007 |
|
|
|
|
Ultimate Holding
company : |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
INR 10/- each |
INR 3000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
INR 10/- each |
INR 3000.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3000.000 |
0.500 |
|
(b) Reserves & Surplus |
|
(47.790) |
(0.416) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds |
|
2952.210 |
0.084 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
12061.477 |
590.974 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
306.402 |
295.948 |
|
(d) long-term
provisions |
|
23.891 |
11.536 |
|
Total Non-current
Liabilities |
|
12391.770 |
898.458 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
5260.722 |
1077.117 |
|
(b) Trade
payables |
|
1344.013 |
0.000 |
|
(c) Other
current liabilities |
|
2504.537 |
578.990 |
|
(d) Short-term
provisions |
|
8.489 |
2.455 |
|
Total Current Liabilities
|
|
9117.761 |
1658.562 |
|
|
|
|
|
|
TOTAL |
|
24461.741 |
2557.104 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
993.689 |
960.551 |
|
(ii) Intangible
Assets |
|
0.081 |
0.000 |
|
(iii)
Capital work-in-progress |
|
17594.866 |
1171.769 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
12.500 |
12.500 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
354.410 |
|
(e) Other
Non-current assets |
|
1739.902 |
0.000 |
|
Total Non-Current
Assets |
|
20341.038 |
2499.230 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
427.409 |
2.800 |
|
(b)
Inventories |
|
2844.970 |
0.000 |
|
(c) Trade
receivables |
|
565.125 |
0.000 |
|
(d) Cash
and cash equivalents |
|
194.382 |
38.813 |
|
(e)
Short-term loans and advances |
|
0.901 |
5.099 |
|
(f) Other
current assets |
|
87.916 |
11.162 |
|
Total
Current Assets |
|
4120.703 |
57.874 |
|
|
|
|
|
|
TOTAL |
|
24461.741 |
2557.104 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
TOTAL |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Other expenses |
|
26.396 |
0.113 |
|
|
TOTAL |
|
26.396 |
0.113 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
|
(26.396) |
(0.113) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
19.351 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(45.747) |
(0.113) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(45.747) |
(0.113) |
|
|
|
|
|
|
|
Less |
TAX |
|
1.627 |
0.303 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(47.374) |
(0.416) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
(0.22) |
(8.33) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
|
4.213 |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flows from (used in) operations |
|
(2540.653) |
869.569 |
|
Net cash flows from (used in) operating activity |
|
(2543.046) |
869.553 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
(0.01) |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.87 |
0.88 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
5.87 |
19858.23 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
|
3.09 |
19744.79 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
6.30 |
25384.76 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
(1.36) |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
(0.19) |
(0.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
(1.60) |
(495.24) |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
0.45 |
0.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
0.14 |
0.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.12 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
5.78 |
3336.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
0.45 |
0.03 |
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 |
|
31.03.2016 |
31.03.2017 |
|
|
|
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
|
0.500 |
3000.000 |
|
Reserves & Surplus |
|
(0.416) |
(47.790) |
|
Money received against share
warrants |
|
0.000 |
0.000 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net
worth |
|
0.084 |
2952.210 |
|
|
|
|
|
|
long-term borrowings |
|
590.974 |
12061.477 |
|
Short term borrowings |
|
1077.117 |
5260.722 |
|
Total
borrowings |
|
1668.091 |
17322.199 |
|
Debt/Equity
ratio |
|
19858.226 |
5.868 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last two years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last two 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 |
PROJECT OF THE
COMPANY:
The Company was incorporated with an objective of dealing in solar photovoltaic equipment and ancillaries including cells and modules. The Company has already commissioned its Module line and achieved 76.55 MW production whereas the commissioning of cell line is commissioned in May, 2017. Moreover, The Company has also increased its plant capacity from 1.2 GW to 1.3 GW at Mundra. The Company has also won the 5.4 MW rooftop tender floated by MPUVNL and is also participating in tenders for Solar Water Pumping System
in the state of Rajasthan and Gujarat.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
35.471 |
590.974 |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
1874.482 |
373.008 |
|
Loans and advances from related parties |
3292.013 |
704.109 |
|
Other loans and advances, others |
94.227 |
0.000 |
|
Total |
5296.193 |
1668.091 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Amount |
Address |
|
1 |
G79821070 |
100144416 |
ICICI BANK LIMITED |
30/12/2017 |
07/03/2018 |
1500000000.0 |
ICICI BANK TOWER, NEAR CHAKLI CIRCLE, OLD PADRA ROAD, VADODARAGU390007IN |
|
2 |
G72008493 |
100142986 |
RBL BANK LIMITED |
06/12/2017 |
- |
1500000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMA416001IN |
|
3 |
G43922954 |
100096630 |
PNB INVESTMENT SERVICES LIMITED |
09/05/2017 |
10/05/2017 |
3135000000.0 |
CIRCLE OFFICE, 6TH FLOOR, GUJARAT BHAVAN,OPP. M J LIBRARY, ELLIS BRIDGE, AHMEDABAD-380006IN |
|
4 |
G47472477 |
100033637 |
PNB INVESTMENT SERVICES LIMITED |
13/06/2016 |
27/06/2017 |
13970000000.0 |
CIRCLE OFFICE, 6TH FLOOR, GUJARAT BHAVAN,OPP. M J LIBRARY, ELLIS BRIDGE, AHMEDABAD-380006IN |
FIXED ASSETS
- Land
- Plant and equipment
- Computer equipment
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 65.78 |
|
|
1 |
INR 93.42 |
|
Euro |
1 |
INR 81.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
TRUP |
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.