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MIRA INFORM REPORT
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Report No. : |
506378 |
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Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
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Name : |
TECHNO ELECTRIC AND ENGINEERING COMPANY LIMITED [w.e.f.14.07.2010] |
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Formerly Known
As : |
SUPER WIND PROJECT LIMITED [w.e.f.11.12.2009] SUPER WIND PROJECT PRIVATE LIMITED |
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Registered
Office : |
C-218, Ground Floor (GR-1), Sector-63, Noida, Gautam
Budh Nagar - 700001 |
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Tel. No.: |
91-11-49548500 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
26.10.2005 |
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Com. Reg. No.: |
20-094304 |
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Capital
Investment / Paid-up Capital : |
INR 228.364 Million |
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CIN No.: [Company Identification
No.] |
L40108UP2005PLC094304 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in three business types – EPC, Asset Ownership, and Operations and Maintenance. As a prominent Engineering, Procurement and Construction
(EPC) Company in [Registered Activity] |
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No. of Employees
: |
437 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 2005. It provides engineering, procurement and construction services to the three power sector generation, transmission and distribution. For the financial year 2017,the company has achieved revenue growth of 19.70% as compared to the previous year along with a fair profit margin of 11.77%. The sound financial profile of the company is marked by sufficient net
worth base along with strong debt protection metrics due to debt free balance
sheet profile. Rating takes into consideration the company’s healthy Earning Per
Share of INR 12.76 against the Face Value of INR 2. Payment seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Fund based facilities = AA |
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Rating Explanation |
High degree of safety and very low credit risk |
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Date |
20.04.2018 |
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Rating Agency Name |
ICRA |
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Rating |
Non-fund based facilities = A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
20.04.2018 |
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
31-03-2016.
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 30.04.2018.
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED BY
|
Name : |
Mr. Anand Yadav |
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Designation : |
Project Manager |
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Contact No.: |
91-9871597424 |
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Date : |
26.04.2018 |
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-11-49548500/ 49548517]
LOCATIONS
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Registered Office : |
C-218, Ground Floor (GR-1), Sector-63, Noida, Gautam
Budh Nagar - 700001 |
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Tel. No.: |
91-33-40513000 |
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Mobile No.: |
91-9871597424 [Mr. Anand Yadav] |
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Fax No.: |
91-33-40513326 |
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E-Mail : |
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Website : |
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Corporate Office : |
1B, |
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Tel. No.: |
91-33-40513000 |
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Fax No.: |
91-33-40513326 |
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E-Mail : |
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Branch Office 1 : |
508-509, Skipper Corner, |
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Tel. No.: |
91-11-49548500/ 49548517 |
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Fax No.: |
91-11-26446098 |
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E-Mail : |
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Branch Office 2 : |
No. 13C, 2nd |
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Tel. No.: |
91-452-2383974 |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Rajendra Prasad Singh |
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Designation : |
Director |
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Address : |
Bunglow No. Ff-1, Powergrid Residential Complex,
Sector-43, Gurgaon - 122002, |
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Date of Appointment : |
05.08.2016 |
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DIN No.: |
00004812 |
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Other Directorship :
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Name : |
Mr. Vasudevan Kotivenkatesan |
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Designation : |
Director |
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Address : |
12, (Old No. 6),7th Cross, Karpagam, Adyar, Chennai -
600020, |
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Date of Appointment : |
24.06.2010 |
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DIN No.: |
00018023 |
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Other Directorship :
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
10d, |
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Date of Appointment : |
24.06.2010 |
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DIN No.: |
00028012 |
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Other Directorship :
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Name : |
Mr. Padam Prakash Gupta |
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Designation : |
Managing Director |
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Address : |
2B, |
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Date of Appointment : |
24.06.2010 |
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DIN No.: |
00055954 |
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Other Directorship :
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Name : |
Mr. Samarendra Nath Roy |
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Designation : |
Director |
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Address : |
C/4/9, Phase III, Type W2b |
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Date of Appointment : |
14.09.2009 |
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DIN No.: |
00408742 |
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Name : |
Mr. Kadenja Krishna Rai |
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Designation : |
Director |
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Address : |
No 1053, Sobha Aster Apartments, 5th MN, SRS Nagar,
Bilekahalli, |
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Date of Appointment : |
24.06.2010 |
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DIN No.: |
00629937 |
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Name : |
Mr. Ankit Saraiya |
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Designation : |
Director |
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Address : |
Flat - D, Block - C 2b, |
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Date of Appointment : |
08.02.2014 |
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DIN No.: |
02771647 |
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Name : |
Mrs. Avantika Gupta |
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Designation : |
Director |
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Address : |
Flat No-O Block - C 2b, |
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Date of Appointment : |
07.02.2015 |
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DIN No.: |
03149138 |
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KEY EXECUTIVES
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Name : |
Mr. Pradeep Kumar Lohia |
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Designation : |
CFO(KMP) |
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Address : |
Ujaas The Condoville, Block-1, Flat- 402, 69 S.K Deb Road, Lake Town, North 24 Parg Anas, Kolkata - 700048, West Bengal, India |
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Date of Appointment : |
07.02.2015 |
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PAN No.: |
ABIPL4227F |
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Name : |
Mr. Niranjan Brahma |
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Designation : |
Company Secretary |
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Address : |
772, Jessore Road Green Park, Block A, Kolkata - 700055, West Bengal, India |
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Date of Appointment : |
28.06.2010 |
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PAN No.: |
ADWPB9019P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
|
Category of Shareholders |
No. of Shares |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
(A) Promoter & Promoter Group |
66201276 |
58.75 |
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(B) Public |
46481124 |
41.25 |
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Total |
112682400 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
|
0.00 |
|
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Individuals/Hindu
undivided Family |
985240 |
0.87 |
|
|
ANKIT SARAIYA |
216000 |
0.19 |
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|
AVANTIKA GUPTA |
72000 |
0.06 |
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P.P. GUPTA (HUF) |
598800 |
0.53 |
|
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PADAM PRAKASH
GUPTA |
6000 |
0.01 |
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RAJ PRABHA GUPTA |
92440 |
0.08 |
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Any Other
(specify) |
65216036 |
57.88 |
|
|
CHECONS LIMITED |
2353806 |
2.09 |
|
|
KUSUM INDUSTRIAL
GASES LTD |
14591000 |
12.95 |
|
|
PRAGYA COMMERCE
PRIVATE LIMITED |
1435506 |
1.27 |
|
|
TECHNO LEASING AND
FINANCE CO. PVT. LTD. |
13788000 |
12.24 |
|
|
TECHNO POWER
PROJECTS LTD. |
6408000 |
5.69 |
|
|
TRIMURTI
ASSOCIATES PRIVATE LIMITED |
2034924 |
1.81 |
|
|
VARANASI
COMMERCIAL LTD. |
24604800 |
21.84 |
|
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Sub Total A1 |
66201276 |
58.75 |
|
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A2) Foreign |
|
0.00 |
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A=A1+A2 |
66201276 |
58.75 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
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B1) Institutions |
0 |
0.00 |
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Mutual Funds/ |
24990792 |
22.18 |
|
|
DSP BLACKROCK
INDIA T.I.G.E.R. FUND |
6129947 |
5.44 |
|
|
FRANKLIN INDIA
SMALLER COMPANIES FUND |
2103095 |
1.87 |
|
|
KOTAK
INFRASTRUCTURE & ECONOMIC REFORM F |
3842633 |
3.41 |
|
|
L AND T MUTUAL
FUND TRUSTEE LTD-L AND T |
4396618 |
3.90 |
|
|
SBI EMERGING
BUSINESSES FUND |
7790500 |
6.91 |
|
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Foreign Portfolio
Investors |
1720603 |
1.53 |
|
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Financial
Institutions/ Banks |
91951 |
0.08 |
|
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Sub Total B1 |
26803346 |
23.79 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
5104056 |
4.53 |
|
|
Individual share
capital in excess of INR 0.200 Million |
610522 |
0.54 |
|
|
Any Other
(specify) |
13963200 |
12.39 |
|
|
HDFC SL
SHAREHOLDERS SOLVENCY MARGIN ACC |
2102453 |
1.87 |
|
|
ICICI PRUDENTIAL
LIFE INSURANCE COMPANY |
1494507 |
1.33 |
|
|
J.P. FINANCIAL
SERVICES PVT LTD |
5512807 |
4.89 |
|
|
MAX LIFE INSURANCE
CO LTD A/C PARTICIPAT |
1325410 |
1.18 |
|
|
Non-Resident
Indian (NRI) |
162308 |
0.14 |
|
|
Trusts |
9537 |
0.01 |
|
|
Clearing Members |
2062861 |
1.83 |
|
|
IEPF |
67640 |
0.06 |
|
|
Bodies Corporate |
11660854 |
10.35 |
|
|
Sub Total B3 |
19677778 |
17.46 |
|
|
B=B1+B2+B3 |
46481124 |
41.25 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in three business types – EPC, Asset Ownership, and Operations and Maintenance. As a prominent Engineering, Procurement and Construction (EPC) Company in India’s power sector, they provide services to all three industry segments - Generation, Transmission and Distribution. They have grown their business to include Green Power, and Build Own Operate and Transfer (BOOT) and Build Own Operate and Maintain (BOOM) project segments as well. [Registered Activity] |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
437 (Approximately) |
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|
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Bankers : |
· Vijaya Bank State Bank of India ICICI Bank Standard Chartered Bank Citibank N.A. IndusInd Bank DBS Bank HSBC Yes Bank IDBI Bank IDBL Bank Axis Bank HDFC Bank |
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Facilities : |
|
||||||||||||||||||||||||
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|
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Auditors : |
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|
Name : |
S. S. Kothari and Company Chartered Accountants |
|
Address : |
Centre Point 21, Old Court House Street, Kolkata - 700001, West Bengal, India |
|
Tel. No.: |
91-33-22482758 |
|
Email: |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company : |
· Simran Wind Project Limited ·
Techno Infra Developers Private
Limited ·
Techno Clean Energy Private Limited ·
Techno Green Energy Private Limited ·
Techno Wind Power Private Limited |
|
|
|
|
Associate Company : |
Patran Transmission Company Limited |
|
|
|
|
Joint Venture Company : |
Jhajhar KT Transco Private Limited |
CAPITAL STRUCTURE
AS ON: 12.09.2017
Authorised Capital : INR 1400.000
Million
Issued, Subscribed & Paid-up Capital : INR 225.365
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
424900000 |
Equity Shares |
INR 2/- each |
INR 849.800 Million |
|
55020000 |
Preference Shares |
INR 10/- each |
INR 550.200 Million |
|
|
|
|
|
|
|
Total |
|
INR 1400.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
114182400 |
Equity Shares |
INR 2/- each |
INR 228.364
Million |
|
|
|
|
|
The reconciliation of the number of shares outstanding is set out below
|
Particulars |
As at 31st March, 2017 |
|
|
Nos. |
|
Shares at the beginning of the year |
57091200 |
|
Add: Bonus Equity Shares issued during the year
out of free reserves of the Company in the ratio 1 : 1. |
57091200 |
|
Shares at the end of the year |
114182400 |
List of shareholders in excess of 5%
|
Particulars |
As at 31st March, 2017 |
|
|
|
Nos. |
% of Holding |
|
Varanasi Commercial Limited |
24604800 |
21.55 |
|
Kusum Industrial Gases Limited |
14591000 |
12.78 |
|
Techno Leasing and Finance Co. Private
Limited |
13788000 |
12.08 |
|
DSP Blackrock 3 Years Close Ended Equity |
8172660 |
7.16 |
|
J.P. Financial Services Private Limited |
5809422 |
5.09 |
|
Techno Power Project Limited |
6408000 |
5.61 |
Rights, Preferences and Restrictions attached to the Shares
The equity shares of the Company of nominal value of INR 2 per share rank pari passu in all respects including voting rights and entitlement to dividend and repayment of share capital
Statement of Changes in Equity Share Capital
|
Particulars |
As at 31st March, 2017 |
|
As at 01.04.2015 |
114.182 |
|
Changes in equity share capital during the year |
-- |
|
As at 31.03.2016 |
114.182 |
|
Changes in equity share capital during the year |
-- |
|
Bonus shares issued during the year out of
free reserves of the company at 1:1 ratio |
114.182 |
|
As at 31.03.2017 |
228.364 |
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 |
228.364 |
114.182 |
114.182 |
|
(b) Reserves & Surplus |
8290.994 |
7062.461 |
6734.318 |
|
(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) |
8519.358 |
7176.643 |
6848.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
300.000 |
700.000 |
|
(b) Deferred tax liabilities (Net) |
794.453 |
758.149 |
6.868 |
|
(c)
Other long term liabilities |
195.287 |
83.444 |
341.185 |
|
(d)
long-term provisions |
16.299 |
13.744 |
13.664 |
|
Total
Non-current Liabilities (3) |
1006.039 |
1155.337 |
1061.717 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
1015.482 |
757.349 |
|
(b)
Trade payables |
3343.372 |
2743.356 |
1223.798 |
|
(c)
Other current liabilities |
379.278 |
467.527 |
331.931 |
|
(d)
Short-term provisions |
27.165 |
16.391 |
114.039 |
|
Total
Current Liabilities (4) |
3749.815 |
4242.756 |
2427.117 |
|
|
|
|
|
|
TOTAL |
13275.212 |
12574.736 |
10337.334 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
103.803 |
1871.414 |
1929.777 |
|
(ii)
Intangible Assets |
3.458 |
4.816 |
6.174 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4939.496 |
4478.270 |
4134.876 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
33.475 |
79.757 |
17.211 |
|
(e)
Other Non-current assets |
18.616 |
21.769 |
0.000 |
|
Total
Non-Current Assets |
5098.848 |
6456.026 |
6088.038 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
1894.399 |
132.182 |
200.000 |
|
(b)
Inventories |
2.191 |
379.317 |
62.804 |
|
(c)
Trade receivables |
4838.530 |
4551.169 |
3098.757 |
|
(d)
Cash and cash equivalents |
936.374 |
484.346 |
194.961 |
|
(e)
Short-term loans and advances |
37.285 |
19.287 |
668.946 |
|
(f)
Other current assets |
467.585 |
552.409 |
23.828 |
|
Total
Current Assets |
8176.364 |
6118.710 |
4249.296 |
|
|
|
|
|
|
TOTAL |
13275.212 |
12574.736 |
10337.334 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
12363.452 |
10328.378 |
6891.220 |
|
|
|
Other Income |
416.884 |
280.469 |
240.227 |
|
|
|
TOTAL (A) |
12780.336 |
10608.847 |
7131.447 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Stores |
8947.640 |
8132.107 |
4965.988 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
377.126 |
(316.513) |
55.565 |
|
|
|
Employees benefits expense |
337.692 |
290.647 |
264.591 |
|
|
|
Other expenses |
679.352 |
636.224 |
476.100 |
|
|
|
TOTAL (B) |
10341.810 |
8742.465 |
5762.244 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2438.526 |
1866.382 |
1369.203 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
159.426 |
208.109 |
202.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2279.100 |
1658.273 |
1167.043 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
130.526 |
135.923 |
135.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2148.574 |
1522.350 |
1032.016 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
693.907 |
450.953 |
185.295 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1454.667 |
1071.397 |
846.721 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (FOB Value) |
28.359 |
175.345 |
619.896 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
12.76 |
9.35 |
14.83 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
300.000 |
400.000 |
300.000 |
|
|
|
|
|
|
Cash generated from operations |
2930.169 |
1145.059 |
(57.510) |
|
|
|
|
|
|
Net Cash flow from Operating Activities |
2297.830 |
886.262 |
(227.950) |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
3681.140 |
2014.020 |
2756.380 |
|
Total Expenditure |
3071.070 |
1740.500 |
2254.640 |
|
PBIDT (Excl OI) |
610.070 |
273.520 |
501.740 |
|
Other Income |
66.560 |
41.510 |
12.200 |
|
Operating Profit |
676.630 |
315.030 |
513.940 |
|
Interest |
26.640 |
24.590 |
20.490 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
649.990 |
290.440 |
493.450 |
|
Depreciation |
6.460 |
7.110 |
6.450 |
|
Profit Before Tax |
643.530 |
283.330 |
487.000 |
|
Tax |
220.830 |
103.820 |
152.350 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
422.700 |
179.510 |
334.660 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
422.700 |
179.510 |
334.660 |
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
142.85 |
160.84 |
164.13 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.56 |
2.27 |
2.22 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
136.39 |
123.13 |
89.95 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1112.97 |
4.92 |
21.80 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
22.73 |
0.99 |
0.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.31 |
0.39 |
0.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.04 |
0.24 |
0.26 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.44 |
0.59 |
0.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.01 |
0.26 |
0.28 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
15.30 |
8.97 |
6.77 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
11.77 |
10.37 |
12.29 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
10.96 |
8.52 |
8.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.07 |
14.93 |
12.36 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.18 |
1.44 |
1.75 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.18 |
1.35 |
1.72 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.64 |
0.57 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.31 |
15.02 |
15.39 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.18 |
1.44 |
1.75 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
|
|
|
Market Value |
INR 355.00/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
114.182 |
114.182 |
228.364 |
|
Reserves & Surplus |
6734.318 |
7062.461 |
8290.994 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6848.500 |
7176.643 |
8519.358 |
|
|
|
|
|
|
Long-term borrowings |
700.000 |
300.000 |
0.000 |
|
Short term borrowings |
757.349 |
1015.482 |
0.000 |
|
Current Maturities of Long term debt |
300.000 |
400.000 |
300.000 |
|
Total
borrowings |
1757.349 |
1715.482 |
300.000 |
|
Debt/Equity ratio |
0.257 |
0.239 |
0.035 |
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 |
6891.220 |
10328.378 |
12363.452 |
|
|
|
49.877 |
19.704 |
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 |
6891.220 |
10328.378 |
12363.452 |
|
Profit |
846.721 |
1071.397 |
1454.667 |
|
|
12.29% |
10.37% |
11.77% |
LEGAL CASE
|
CASE STATUS Case Details |
|||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||
|
CASE STATUS
|
|||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||
|
Petitioner(s) & Advocate(s) Petitioner - Simran Wind Project Ltd. Address - 71, Park Street, Kol-16. Advocate - Mr. Apurba Kr. Mullick. |
|||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||
|
Respondent(s) & Advocate(s) Respondent - M.
Saravankumar Address - 8/64, Michek Cottage Opp Site: T. M. Bank, Anjugraman, Kanyakumari-629401.
Address - 71, Park Street, Kol-16. |
|||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||
|
ACTS
|
|||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||
|
LOWER COURT INFORMATION
|
|||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||
|
History of Case Hearing
|
|
Civil Court Junior Division , Ambajaogai Case
Details |
||||||||||
|
Case Type: S.C.C. Filing Number: 273/2018Filing Date: 22-02-2018 Registration Number: 161/201 Registration Date: 22-02-2018 CNR Number: MHBI06-000354-2018 |
||||||||||
|
Case Status First Hearing Date: 22nd February 2018 Next Hearing Date: 26th April 2018 Stage of Case: Appearance Court Number and Judge: 2-IIIrd Jt.C.J.J.D. J.M.F.C.Ambajogai. |
||||||||||
|
|
||||||||||
|
Petitioner and Advocate THE STATE OF MAHARASHTRA Labour Enforcement Officer Advocate- Pankat Pancholi |
||||||||||
|
Respondent and Advocate 1) Techno Electric and Engineering Co.Ltd.
|
||||||||||
|
Acts
|
||||||||||
|
History of Case Hearing
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G69834125 |
100139436 |
RBL BANK LIMITED |
07/12/2017 |
- |
- |
500000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMA416001IN |
|
2 |
G46256905 |
100103777 |
AXIS BANK LIMITED |
06/05/2017 |
- |
- |
500000000.0 |
CORPORATE BANKING BRANCH (CBB)1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOORKOLKATAWB700071IN |
|
3 |
B84723642 |
10376132 |
DBS BANK LTD. |
17/09/2012 |
28/08/2013 |
- |
400000000.0 |
4A, NANDALAL BASU SARANIKOLKATAWB700071IN |
|
4 |
G08420960 |
10269201 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
22/02/2011 |
01/07/2016 |
- |
900000000.0 |
HONGKONG HOUSE31 B B D BAGKOLKATAWB700001IN |
|
5 |
G08490112 |
10145644 |
INDUSIND BANK LTD. |
27/01/2009 |
15/07/2016 |
- |
2500000000.0 |
SAVITRI TOWERS3A, UPPER WOOD STREETKOLKATAWB700017IN |
|
6 |
B41629668 |
10048093 |
CITIBANK N.A |
23/04/2007 |
12/06/2012 |
- |
1140000000.0 |
KANAK BUILDING41 CHOWRINGHEE ROADKOLKATAWB700071IN |
|
7 |
G49742141 |
80047941 |
YES BANK LIMITED |
05/05/2006 |
07/07/2017 |
- |
1600000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
8 |
C58015793 |
80023846 |
IDBI BANK LIMITED |
16/02/2006 |
23/06/2015 |
- |
1020000000.0 |
KOLKATA MAIN BRANCH (CBG-I)IDBI HOUSE, 44 SHAKESPEARE SARANIKOLKATAWB700017IN |
|
9 |
G70844386 |
90249389 |
STATE BANK OF INDIA |
07/12/2005 |
04/12/2017 |
- |
12050000000.0 |
OVERSEAS BRANCH, KOLKATASAMRIDDHI BHAVAN, BLOCK-A, 1, STRAND ROADKOLKATAWB700001IN |
|
10 |
B07544745 |
90252540 |
STANDARD CHARTERED BANK |
18/11/2005 |
02/03/2011 |
- |
600000000.0 |
19, NETAJI SUBHAS ROADKOLKATAWB700001IN |
|
11 |
G08420390 |
90252477 |
ICICI BANK LIMITED |
08/06/2005 |
28/07/2016 |
- |
2760000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGU390015IN |
|
12 |
A60607777 |
90251935 |
STATE BANK OF INDIA |
04/10/1999 |
01/04/2009 |
- |
1035000000.0 |
OVERSEAS BRANCHSAMRIDDHI BHAVAN, BLOCK-A,1, STRAND ROAD,KOLKATAWB700001IN |
|
13 |
A83406488 |
90251792 |
VIJAYA BANK |
23/03/1995 |
26/03/2010 |
- |
730000000.0 |
N S ROAD BRANCH8 N S ROAD, GILLANDERS HOUSEKOLKATAWB700001IN |
|
14 |
G75411041 |
10428783 |
IDBI TRUSTEESHIP SERVICES LIMITED |
25/04/2013 |
28/01/2017 |
01/02/2018 |
300000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
15 |
C11148707 |
10356186 |
ING VYSYA BANK LIMITED |
27/04/2012 |
- |
15/07/2014 |
300000000.0 |
4/1,MIDDLETON STREET,SIKKIM HOUSE,KOLKATAWB700071IN |
|
16 |
B98655111 |
90252372 |
ABN AMRO BANK |
20/12/2004 |
20/12/2004 |
06/03/2014 |
5000000.0 |
NV ITC CENTER4 RUSSEL STREET ; 5TH FLOORKOLKATAWB700071IN |
|
17 |
B98654460 |
90252215 |
ABN AMRO BANK NV |
05/12/2003 |
16/11/2006 |
06/03/2014 |
305000000.0 |
AZIMGANJ HOUSE7, CAMAC STREETKOLKATAWB700017IN |
|
18 |
B79577805 |
10364077 |
KOTAK MAHINDRA BANK LIMITED |
02/07/2012 |
- |
03/07/2013 |
200000000.0 |
15-16 UPPER GROUND FLOOR, AMBADEEP BUILDING14, KASTURBA GANDHI MARGNEW DELHIDL110001IN |
|
19 |
B57568313 |
10192195 |
DBS BANK LTD. |
04/01/2010 |
27/12/2010 |
07/09/2012 |
600000000.0 |
4A, NANDLAL BASU SARANIKOLKATAWB700071IN |
|
20 |
B57932592 |
10178294 |
INDUSIND BANK LIMITED |
03/09/2009 |
27/01/2010 |
05/09/2012 |
400000000.0 |
SAVITRI TOWER3A UPPER WOOD STREETKOLKATAWB700017IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
From Other Parties |
0.000 |
250.000 |
|
|
|
|
|
Total |
0.000 |
250.000 |
ABOUT TECHNO ELECTRIC
& ENGINEERING CO. LTD.
Established in 1963, Techno Electric & Engineering Company (Techno) is one of the leading Player in the country’s power-infrastructure space. It is engaged in three types of business – EPC, Asset Ownership, and Operations and Maintenance. Techno provides its expertise to all three industry segments - generation, transmission and distribution. Over the years, it has grown its business to include Green Power, and Build Own Operate and Transfer (BOOT) and Build Own Operate and Maintain (BOOM) project segments as well.
Techno provides complete solutions for captive power plants, balance of plant (BOP) for thermal and hydro power projects. The Company extended into the captive waste heat recovery segment in 2006 through the delivery of integrated turnkey solution. Techno’s capabilities comprise basic engineering, design, detailed engineering, civil-cum-structural works, commissioning and stabiliaation. Over the decades, the Company has established a formidable record in the execution of up to 100 MW captive projects in record time.
Techno has demonstrated its excellence in the transmission and distribution segment. Within the EHV substation segment, Techno services comprise the EPC delivery of air-insulated and gas insulated substations (GIS).
The Company entered into the distribution and Rural electrification sector in 2004. Over time, it has executed large rural and urban distribution packages across three districts in Assam and six districts in Bihar and Maharashtra. Techno has provided distribution services under the Accelerated Power Development and Reform Programme (APDRP) scheme and executed Rural electrification projects under the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY).
OUTLOOK & OPPORTUNITIES
Every industry around the world have been transformed by technological innovation within the last couple of decades. At last, innovation in the power sector is finally taking place as well. To bring clean, affordable electricity to all of its citizens, India has announced an impressive Goal to add 60 GW of medium and large-scale grid-connected solar projects and 40GW of rooftop solar by 2022. Adding clean energy will drastically change the lives of India’s citizens while simultaneously working to fulfil its international commitments to combat climate change.
Achieving
nationwide electrification will be no
easy feat, no matter whether it is through either source of energy. It will
require bringing electricity to about 240 million people, many of which live in rural
villages where nearly half of households lack access to electricity. Utilities
typically cannot afford to buy more expensive power generation when demand is
high, which leads to regular blackouts. India has an
enormous opportunity to leapfrog the largescale, centralised power system paradigm that dominated the 20th century, and instead settle into a model of small-scale, distributed power systems that are cleaner, more affordable, and more reliable at once.
Techno, being a major player in implementing projects for the power generators, distributors and transmitters, statcoms etc., has placed itself in a strong footing and prepared for taking the challenges that may arise from the electrification vision of the govt. and capitalise on the opportunities that may come to it. There are many opportunities that may come to it. There bring substantial growth to the Company in coming years.
MANAGEMENT DISCUSSION AND ANALYSIS
INDIAN ECONOMY
The Indian economy grew at a GDP of 7.1% in FY 2016-17 amid a sluggish global economic landscape. Despite uncertainties in global capital markets, India was a preferred destination for foreign direct investments (FDIs). A decent monsoon, reduction in inflation rates and a 3.5% fiscal deficit helped India’s economy grow. Moreover, the Government of India rolled out several bold reforms to balance the inflection, improve both current and fiscal deficits and enable the country reach its true potential. The consumer price index (CPI) inflation rate was the lowest at 3.8% since 2012, which was primarily due to a slowdown in food prices. Further, the reserve bank of India’s (RBIs) tightly controlled Repo Rate that remained unchanged at 6.25% in the last monetary policy review
in
April 2017 too, helped to discipline the CPI inflation rate.
Major government reforms and schemes that influenced India’s economy in FY 2016-17.
COMPANY OVERVIEW
The company is a recognized company in the power sector. It provides engineering, procurement and construction services to the three segments of power sector including generation, transmission and distribution. The Company is recognized for its expertise in the domains of light construction and heavy engineering segments
across the country’s power sector. The Company is a public limited company incorporated and domiciled in India and has its registered office at P-46A, Radha Bazar Lane, Kolkata – 700 001, India. The company has its primary listings on the BSE Limited and National Stock exchange of india Limited. The financial statements are approved for issue by the Company’s Board of Directors on 26th May, 2017.
WORLD POWER SECTOR
After the paris agreement in No November 2016, international communities are committed towards decreasing their carbon footprint and achieving a sustainable infrastructure. Besides, countries are focused on leveraging technology and diversifying their energy resources to cater to the rising energy needs. The growth of renewables in the electricity sector has been pronounced across the world.
However, access to electricity remains a major Challenge for over 17% of the world’s population. Going forward, the demand for energy will increase globally and it is imperative that a transition is made to a more sustainable, affordable, secure and inclusive energy system
INDIAN POWER SECTOR
India’s power sector is a diverse mix of
conventional and non-conventional energy sources. Power generation
resources range from non-renewable sources such as coal, lignite, natural gas,
oil, hydro and nuclear power to renewable sources like wind, solar,
agricultural and domestic waste.
Over the years India demand for electricity has increased rapidly and is expected to rise further as India’s
population is likely to surpass china by 2019. India’s power sector is
gradually undergoing a significant change that has redefined the industry
outlook.
Sustained economic growth continues to drive electricity demand in India. The Government of India’s ambitious plans for providing energy for all under its accelerated capacity expansion in the 2019 has accelerated capacity expansion in the country. Simultaneously, there is an increased competition at both the market and supply sides (fuel, logistics, finances and manpower).
OPERATIONAL
PERFORMANCE
EPC Business:
The
Company has registered better performance during the year under review and
achieved turnover of 12049.429 million and profit after tax at INR 1454.667 Million from EPC Business.
During the year, the Company had successfully participated in bidding process
of many projects on its own and partnership with others. The Order Book
position was remarkably increased during the year. Once again, timely
completion of quality projects have contributed towards the goodwill and
performance of the Company and earned it the trust of customers. Since the
power sector in the Country is in the growth path, the Company’s future growth
is also visible and sustainable.
TRANSMISSION
The natural resources for electricity generation in India are unevenly distributed and concentrated in a few pockets. Hydro resources are mostly located in the Himalayan foothills of North Eastern Region (NER). Coal reserve are concentrated in Jharkhand, Odisha, West Bengal, Chhattisgarh, parts of Madhya Pradesh, Whereas lignite is located in Tamilnadu and Gujarat. Moreover, many power stations have been installed in various parts of country using gas and renewable energy sources like solar, wind, biogas, and so on.
Powergrid Corporation of India Limited (POWERGRID), a central transmission utilities (CTU), is responsible for planning inter-state transmission system (ISTS). Similarly, there are State Transmission Utilities (STU) (namely State Transco/ SEBs) engaged with development of Intra State Transmission System.
An
extensive network of transmission lines has been developed over the years for
evacuating power produced by
different electricity generating stations and distributing the same to
consumers. Depending upon the quantum of power and the distance involved, lines
of appropriate voltages are laid. The nominal Extra High Voltage lines in use
are ± 800 kV HVDC and 765kV, 400 kV, 230/220 kV, 110 kV and 66kV AC lines.
These have been installed by all State Electricity Boards (SEBs), and by
generation, transmission and distribution utilities including those in under the center’s control.
Between
April and May 2017, 4,027 circuit kilometers (ckm) of transmission lines have
been commissioned, which includes 17.4% of the annual target of 23086 ckm fixed for 2017-18. Similarly, 9,170
MVA of transformation capacity of substations have been added that constitute 17% of the annual target of 53.978 MVA
fixed for 2017-18.
STATEMENT OF
UNAUDITED FINANCIAL, RESULTS FOR THE QUARTER ENDED AND NINE MONTHS ENDED 31ST
DECEMBER 2017
|
Particulars |
Quarter
ended |
Nine Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.012.2017 |
|
Revenue from operation |
2756.381 |
2014.019 |
8451.537 |
|
Other income |
12.197 |
41.512 |
120.271 |
|
Total Income |
|
|
|
|
|
2768.578 |
2055.531 |
8571.808 |
|
Expenses |
|
|
|
|
Material, stores and project expenses |
1998.699 |
1338.920 |
6319.011 |
|
Changes in inventories of finished goods, stock in trade and work in progress |
(16.418) |
143.759 |
(61.266) |
|
Employee benefits expense |
92.159 |
100.530 |
272.848 |
|
Finance costs |
20.494 |
24.586 |
71.717 |
|
Depreciation and amortision expenses |
6.454 |
7.112 |
20.029 |
|
Other expenses |
180.186 |
157.295 |
535.610 |
|
Total expenses |
2281.574 |
1772.202 |
7157.949 |
|
Profit before exceptional items and tax |
487.004 |
283.329 |
1413.859 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit before tax |
487.004 |
283.329 |
1413.859 |
|
Tax Expenses |
|
|
|
|
Current tax |
102.105 |
174.987 |
426.243 |
|
Deferred tax |
50.241 |
(71.172) |
50.747 |
|
MAT credit entitlement |
0.000 |
0.0000 |
0.000 |
|
Total tax Expenses |
152.346 |
103.815 |
476.990 |
|
|
|
|
|
|
Profit for the period |
334.658 |
179.514 |
936.869 |
|
|
|
|
|
|
Total profit for the period |
334.658 |
179.514 |
936.869 |
|
|
|
|
|
|
Other comprehensive income |
(0.750) |
(1.500) |
(2.250) |
|
|
|
|
|
|
Total comprehensive income for the period
|
333.908 |
178.014 |
934.619 |
|
|
|
|
|
|
Profit for the period attributable to: |
|
|
|
|
Owners of the company |
333.908 |
178.014 |
934.619 |
|
Total comprehensive income for the period
attributable to: |
|
|
|
|
Owners of the company |
333.908 |
178.014 |
934.619 |
|
Paid up equity share capital (Face value
INR 2/- |
225.364 |
225.364 |
225.364 |
|
Earning per share of INR 2/-each |
|
|
|
|
Basic and Diluted |
2.97 |
1.58 |
8.31 |
NOTES:
1.
The above Financial results and Segment Results have been reviewed by the Audit
Committee and approved by the Board of Directors at their respective meetings
held on 9th February 2018 .The Statutory auditors of the Company has carried
out a "Limited Review" of the results for the quarter and nine months
ended 31st December 2017.
2. During the previous year the Company had issued bonus shares in the ratio of
one equity share of face value of INR 2 each for each equity share held by the
shareholders of the company by capitalisation of its General Reserve. Earning
per share of all reportable period have been restated to make these comparable.
3. The Company has obtained the observation letters from Stock Exchanges for
the proposed amalgamation of the Company with its wholly-owned subsidiary
Company with effect from 1st April 2017 (the appointed date).
4. This Statement is as per Regulation 33 & Regulation 52 of the SEB1
(Listing Obligation and Disclosure Requirements) Regulations, 2015.
5. Figures for the previous corresponding period have been
regrouped/rearranged, whereever considered necessary.
FIXED ASSETS:
· Land
·
Buildings
·
Plant
and Equipment
·
Plant
and Equipment – Wind Division
·
Furniture
and Fixtures
·
Vehicles
·
Office
Equipment
·
Computer
Software
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 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 66.78 |
|
UK Pound |
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SRY |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.