|
|
|
MIRA INFORM REPORT
|
Report No. : |
488856 |
|
Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
UEM INDIA PRIVATE LIMITED (w.e.f. 27.04.2010) |
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|
|
|
Formerly Known
As : |
UEM INDIA LIMITED (w.e.f. 07.11.2001) UTILITY EQUIPMENT AND MANAGEMENT PRIVATE LIMITED |
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|
Registered
Office : |
D-19, Kalkaji, New Delhi – 110019 |
|
Tel. No.: |
91-124-6447000 |
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|
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2017 |
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|
Date of
Incorporation : |
23.03.1984 |
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|
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Com. Reg. No.: |
55-017765 |
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|
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Capital
Investment / Paid-up Capital : |
INR 93.958 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL1984PTC017765 |
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IEC No.: |
0588087084 |
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TIN / CST No.: |
07550184809 |
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GSTIN/UIN : |
07AAACU0043Q2Z7 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACU0043Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The
company is in the business of construction and installation of Water
Treatment Plant. [Registered
Activity] |
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|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 920000 |
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|
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
UEM India Private Limited is a subsidiary of “Toshiba Corporation”, Japan. It is a water and waste solutions provider that undertakes design, engineering, supply, erecting and commissioning of sewerage and water treatment plants. The company was incorporated in the year 1984 and is based in New Delhi, India. It is an established company having satisfactory track record. The company is continuously incurring losses from its operational activities. However, the company possesses an acceptable financial profile marked by sound net worth base along with favourable gap between trade payables to its trade receivables. The company also derives strength from its strong holding entity and its experienced management team. Trade relations are reported as fair. Business is active. Payment terms are seems to be slow but correct. In view of strong holding support, 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
Fund Based Working Capital Facility= BBB+
(SO) Withdrawn |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
April,
2017 |
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Non-Fund Based Working Capital Facility= A2+
(SO) Withdrawn |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
April,
2017 |
Reason for withdrawn: Based on the receipt of a no-objection certificate from the lender.
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 01.02.2018
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 (91-124-6447000)
LOCATIONS
|
Registered Office : |
D-19, Kalkaji, New Delhi – 110019, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Corporate Office : |
Pioneer Urban Square, 4th Floor, Tower D,
Sector-62, Gurugram – 122102, Haryana, India |
|
Tel. No.: |
91-124-6447000 / 1 / 2 |
|
Fax No.: |
91-124-3817005 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Krishan Mohan Kshetry |
||||||||||||||||||||
|
Designation : |
Managing Director |
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|
Address : |
W-5/40A, Sainik Farms, Village Devli, Tehsil Mehrauli, New Delhi –
110062, India |
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Date of Birth/Age : |
06.06.1949 |
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Date of Appointment : |
23.03.1984 |
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PAN No.: |
BVYPK9373C |
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DIN No.: |
00420623 |
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|
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Name : |
Mr. Koichi Matsui |
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Designation : |
Director |
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Address : |
30-2-401, Nozawa 3-Chome, Setagaya-Ku Tokyo
1540003, Japan |
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|
Date of Birth/Age : |
02.10.1973 |
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|
Date of Appointment : |
26.03.2014 |
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|
DIN No.: |
06776385 |
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|
||||||||||||||||||||
|
Name : |
Mr. Satish Chander Subbanna |
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|
Designation : |
Director |
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|
Address : |
#9, Adarsh Vista, Basavanagar Main Road,
Vignana Nagar, Bangalore – 560037, Karnataka, India |
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|
Date of Birth/Age : |
11.03.1975 |
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Date of Appointment : |
16.09.2015 |
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DIN No.: |
02849420 |
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Other Directorship:
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|
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Name : |
Hirofumi Yoshino |
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Designation : |
Director |
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Address : |
4-21-13-911, Shukugawara, Tawa-Ku Kawasaki
2140021, Japan |
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|
Date of Appointment : |
15.09.2015 |
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DIN No.: |
07243861 |
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|
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Name : |
Mr. Kenichi Futami |
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Designation : |
Director |
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Address : |
6-3-1-5005, Kachidoki Chuo-Ku Tokyo
1040054, Japan |
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|
Date of Appointment : |
15.09.2015 |
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DIN No.: |
07243958 |
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|
||||||||||||||||||||
|
Name : |
Mr. Yoshikazu Tonozuka |
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Designation : |
Director |
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Address : |
17-2, Nakamura 3-Chome, Nerima-Ku Tokyo
1760024, Japan |
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Date of Appointment : |
15.09.2015 |
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DIN No.: |
07243963 |
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|
||||||||||||||||||||
|
Name : |
Mr. Hiroaki Kobayashi |
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Designation : |
Director |
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Address : |
C-472,Defence Colony, Ist Floor, New Delhi – 110024, India |
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Date of Appointment : |
15.09.2015 |
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DIN No.: |
07268125 |
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|
||||||||||||||||||||
|
Name : |
Mr. Yasuyuki Okada |
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Designation : |
Director |
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Address : |
1-22-15, Konandai, Konan-Ku Yokohama,
Kanagawa 2340054, Japan |
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Date of Appointment : |
22.07.2016 |
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DIN No.: |
07549133 |
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KEY EXECUTIVES
|
Name : |
Mr. Anil Kumar Chauhan |
|
Designation : |
Company Secretary |
|
Address : |
77, Khirki Malviya Nagar, New Delhi –
110017, India |
|
Date of Appointment : |
18.08.2000 |
|
PAN No.: |
ADNPC6005D |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Krishan Mohan Kshetry |
|
939584 |
|
IVF Trustee Company Private Limited, India |
|
939584 |
|
Toshiba Corporation, Japan |
|
7516667 |
|
|
|
|
|
Total |
|
9395835 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Non-resident Indian {NRI})] |
10.00 |
|
Public/Other than promoters [Venture
capital] |
10.00 |
|
Public/Other than promoters [Body corporate] |
80.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
company is in the business of construction and installation of Water
Treatment Plant. [Registered
Activity] |
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Products / Services
: |
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||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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|
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants LLP Chartered Accountants |
|
Address : |
Gurugram, Haryana, India |
|
PAN No.: |
AAFFP3698A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
·
Toshiba Corporation, Japan |
|
|
|
|
Fellow Subsidiary companies : |
· Toshiba Electronic Components, Japan · Toshiba India Private Limited, India · Toshiba Logistics India Private Limited, India · Toshiba Technical Services International Corporation, Japan · Toshiba Trading Incorporated, Japan |
|
|
|
|
Subsidiary
companies : |
· UEM Environment Limited, Mauritius · UEM Inc., United States · UEM Infrastructure Private Limited, INDIA |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9395835 |
Equity Shares |
INR 10/- each |
INR 93.958 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
93.958 |
93.958 |
93.958 |
|
(b) Reserves & Surplus |
226.505 |
445.820 |
706.974 |
|
(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) |
320.463 |
539.778 |
800.932 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
660.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
6.084 |
8.338 |
|
(d) Long-term
provisions |
15.519 |
21.068 |
13.475 |
|
Total Non-current
Liabilities (3) |
15.519 |
27.152 |
681.813 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1850.000 |
1652.500 |
666.172 |
|
(b) Trade
payables |
1056.967 |
1295.884 |
1124.262 |
|
(c) Other current
liabilities |
787.890 |
762.024 |
586.412 |
|
(d) Short-term
provisions |
39.597 |
49.275 |
106.698 |
|
Total Current
Liabilities (4) |
3734.454 |
3759.683 |
2483.544 |
|
|
|
|
|
|
TOTAL |
4070.436 |
4326.613 |
3966.289 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
72.500 |
81.008 |
78.434 |
|
(ii)
Intangible Assets |
6.004 |
7.340 |
9.076 |
|
(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 |
417.173 |
417.014 |
108.118 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
155.696 |
352.198 |
365.359 |
|
(e) Other Non-current
assets |
407.182 |
290.906 |
321.096 |
|
Total Non-Current
Assets |
1058.555 |
1148.466 |
882.083 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
39.060 |
4.937 |
16.191 |
|
(c) Trade
receivables |
1371.722 |
1301.532 |
902.437 |
|
(d) Cash
and cash equivalents |
104.465 |
71.271 |
297.564 |
|
(e)
Short-term loans and advances |
490.950 |
335.781 |
587.949 |
|
(f) Other
current assets |
1005.684 |
1464.626 |
1280.065 |
|
Total Current
Assets |
3011.881 |
3178.147 |
3084.206 |
|
|
|
|
|
|
TOTAL |
4070.436 |
4326.613 |
3966.289 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2571.507 |
3131.744 |
1803.944 |
|
|
Other Income |
65.819 |
48.551 |
102.497 |
|
|
TOTAL |
2637.326 |
3180.295 |
1906.441 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
138.539 |
194.216 |
214.990 |
|
|
Purchases of
Stock-in-Trade |
876.716 |
1241.377 |
572.259 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.265 |
9.023 |
2.489 |
|
|
Employee benefit expense |
357.495 |
358.722 |
295.664 |
|
|
Other expenses |
1293.087 |
1442.191 |
1107.461 |
|
|
TOTAL |
2666.102 |
3245.529 |
2192.863 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(28.776) |
(65.234) |
(286.422) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
165.749 |
181.019 |
235.012 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(194.525) |
(246.253) |
(521.434) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
16.127 |
12.700 |
18.364 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(210.652) |
(258.953) |
(539.798) |
|
|
|
|
|
|
|
Less |
TAX |
8.662 |
2.201 |
233.464 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(219.314) |
(261.154) |
(773.262) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
824.485 |
525.682 |
380.917 |
|
|
TOTAL EARNINGS |
824.485 |
525.682 |
380.917 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
101.296 |
113.627 |
115.025 |
|
|
TOTAL IMPORTS |
101.296 |
113.627 |
115.025 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(23.34) |
(27.79) |
(82.30) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.235 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
39.460 |
182.427 |
(493.644) |
|
Net cash flows from (used in) operating activities |
12.272 |
227.486 |
(479.408) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
194.70 |
151.69 |
182.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.87 |
2.41 |
2.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
380.00 |
329.48 |
521.25 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.74) |
(13.21) |
(17.69) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.37) |
(0.74) |
(3.27) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.92 |
0.87 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
5.77 |
3.06 |
1.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
11.65 |
6.97 |
3.10 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.24 |
0.16 |
0.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(0.17) |
(0.36) |
(1.22) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
(8.53) |
(8.34) |
(42.87) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(5.39) |
(6.04) |
(19.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(68.44) |
(48.38) |
(96.55) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.81 |
0.85 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.80 |
0.84 |
1.24 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.08 |
0.12 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
19.69 |
17.59 |
14.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.81 |
0.85 |
1.24 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
93.958 |
93.958 |
93.958 |
|
Reserves & Surplus |
706.974 |
445.820 |
226.505 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
800.932 |
539.778 |
320.463 |
|
|
|
|
|
|
Long-term borrowings |
660.000 |
0.000 |
0.000 |
|
Short term borrowings |
666.172 |
1652.500 |
1850.000 |
|
Current maturities of
long-term debts |
0.235 |
0.000 |
0.000 |
|
Total
borrowings |
1326.407 |
1652.500 |
1850.000 |
|
Debt/Equity
ratio |
1.656 |
3.061 |
5.773 |
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 |
1803.944 |
3131.744 |
2571.507 |
|
|
|
73.605 |
(17.889) |
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 |
1803.944 |
3131.744 |
2571.507 |
|
Profit/ (Loss) |
(773.262) |
(261.154) |
(219.314) |
|
|
(42.87
%) |
(8.34
%) |
(8.53
%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
93.958 |
93.958 |
|
(b) Reserves and Surplus |
|
43.968 |
340.800 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
137.926 |
434.758 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
6.084 |
|
(d) long-term
provisions |
|
17.808 |
21.068 |
|
Total Non-current
Liabilities (3) |
|
17.808 |
27.152 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
1913.412 |
1732.008 |
|
(b) Trade
payables |
|
1053.442 |
1317.403 |
|
(c) Other
current liabilities |
|
860.075 |
845.317 |
|
(d) Short-term
provisions |
|
48.121 |
72.838 |
|
Total Current
Liabilities (4) |
|
3875.050 |
3967.566 |
|
|
|
|
|
|
TOTAL |
|
4030.784 |
4429.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
82.260 |
93.065 |
|
(ii)
Intangible Assets |
|
88.014 |
91.310 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
1.951 |
0.000 |
|
(d)
Long-term
loans and advances |
|
157.732 |
355.849 |
|
(e) Other
Non-current assets |
|
407.182 |
329.925 |
|
Total Non-Current
Assets |
|
737.139 |
870.149 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
81.929 |
7.024 |
|
(c) Trade
receivables |
|
1593.787 |
1643.885 |
|
(d) Cash and bank
balances |
|
149.333 |
108.388 |
|
(e)
Short-term loans and advances |
|
537.877 |
382.304 |
|
(f) Other
current assets |
|
930.719 |
1417.726 |
|
Total
Current Assets |
|
3293.645 |
3559.327 |
|
|
|
|
|
|
TOTAL |
|
4030.784 |
4429.476 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
2673.112 |
3611.585 |
|
|
Other Income |
|
71.636 |
49.836 |
|
|
TOTAL |
|
2744.748 |
3661.421 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
138.539 |
197.438 |
|
|
Purchases of
Stock-in-Trade |
|
896.684 |
1430.725 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
2.070 |
9.023 |
|
|
Employee benefit expense |
|
609.479 |
589.134 |
|
|
Other expenses |
|
1183.419 |
1438.031 |
|
|
TOTAL |
|
2830.191 |
3664.351 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
(85.443) |
(2.930) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
175.082 |
168.528 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(260.525) |
(171.458) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
18.323 |
15.328 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(278.848) |
(186.786) |
|
|
|
|
|
|
|
Less |
TAX |
|
13.327 |
8.365 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(292.175) |
(195.151) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(31.10) |
(20.77) |
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 |
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 |
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:
The
Company is in the business of construction and installation of Water Treatment
Plant within and outside India. The Company registered a branch office in Oman
on 06.01.2015 with Ministry of Commerce and Industry, Oman to do the business
in Oman.
OPERATIONS:
During FY 2017,
the Company achieved a turnover of INR 2571.507 million and a negative Profit
Before Tax (PBT) of INR (210.652) million as compared to a turnover of INR
3131.743 million and a negative PBT of INR (258.953) million in FY 2016.
MANAGEMENT DISCUSSION AND ANALYSIS:
During the year,
the results of the Company were not in line with the target and expectations.
This was primarily due to lack of new orders and uncertainty in the business
climate of the country.
It was a
challenging year for the EPC Industry and the expected economic buoyancy, did
not happen as expected. Though a number of schemes, programs, plans and
investments have been announced by the Government in the Water Sector but there
were very few tenders floated and even fewer awarded during the year. In
Private Sector also, no major inquiries and orders were seen. Therefore, the
Company could not procure new orders of such value to boost order book.
During the year,
the Company increased its focus on Japanese and other multinational customers
in Indian market in addition to the overseas market and attempted to
participate in variety of tenders in South East Asia and Middle East. Due to
persistent efforts made, the company was successful in winning following major
projects and it continues to enhance its focus in winning more orders;
Industrial Projects:
1.
ETP and ZLD project for YKK India Private
Limited, Haryana
2.
ETP and ZLD project for Guetermann India
Private Limited, Haryana
3.
Pilot stody for Sekisui Chemical Co. Limited,
Japan
4.
ZLD plant for Gulf Chlorine WLL, Qatar
Municipal Projects:
1.
48 MLD STP for Ahmedabad Municipal
Corporation, Vasna
2.
Sewerage network at Allahabad, District B for
UP Jal Nigam, Allahabad
3.
STP and Sewerage network at Saidpur for
BUIDCO, Patna
O&M Projects:
1.
Mailasandra STP for BWSSB, Bangalore
2.
ETP at HPCL, Vizag
3.
SWRO Project at CPCL, Chennai
Subsequent to
strategic investment in UEM by Toshiba Corporation, Toshiba has been supporting
UEM endeavor to grow business within India and outside India. Following
endeavor were made to exploit the opportunities in Water and Waste Water
Treatment segment.
-
Enhanced co-ordination and communication with
Japan International Cooperation Agency - JICA
-
Business development activities with Japanese
company in India
-
Opportunities from Toshiba and Toshiba Group
Company
-
Development of small MBR Plant for local and
international market
The Company's
management team has been strengthened with support from Toshiba and it would
continue to leverage, strengthen and capitalize on the key opportunity areas
for growth. Toshiba association is vital, particularly in following ways:
-
Strong pre-qualifications in the key
opportunity areas of Hydrocarbon segment, Power, Steel and Municipal projects
-
Experience in implementing projects in
different technologies in multiple industries and geographies
-
Tie-ups with key technology owners giving the
Company access to the right technologies to offer low life cycle cost
solutions.
The Company is
striving hard to expand its market base in global market by using synergies
with Toshiba and have chalk out overseas business strategies to capitalize
business opportunities outside India.
The Company is
keeping continuous focus on Operation and Maintenance business and determine to
expand this particular vertical of the business in Indian and International
markets by keeping a close watch on the same and making maximum bids to acquire
new business.
UEM Inc.,
subsidiary of the Company has entered into a License Agreement Mr. Deb Mukhopadhaya
of USA to acquire License to use HERO process and plants to market and deliver
Waste Water recycle- Reuse and Zero Liquid Discharge projects using the HERO
process globally. Through UEM Inc. the License will be available to the Company
by way of Sub-Licensing Agreement, being entered into.
With new
investment declared by Government of India, for rejuvenation of Ganga and Water
Sector in general coupled with Government initiative to improve water quality
and sanitation management, they expect that the coming year would bring the
number of opportunities to grow company business profitable.
The Company is
well equipped to materialize the opportunity in terms of having capable
manpower, proven technologies and processes and technology partners.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
1250.000 |
1250.000 |
|
Working capital loans from banks |
600.000 |
402.500 |
|
|
|
|
|
Total |
1850.000 |
1652.500 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C63526644 |
10185726 |
SATATE BANK OF INDIA |
05/11/2009 |
16/08/2013 |
03/09/2015 |
3100000000.0 |
INDUSTRIAL FINANCE BRANCH, JAWAHAR VYAPAR BHAWAN STC BUILDING, 1, TOLSTOY MARG NEW DELHI DL110001IN |
|
2 |
C14310668 |
10389890 |
L & T FINANCE LIMITED |
06/11/2012 |
- |
16/07/2014 |
50000000.0 |
L&T HOUSE, BALLARD ESTATE, MUMBAI MH400001IN |
|
3 |
C14309702 |
10372888 |
L & T FINANCE LIMITED |
27/08/2012 |
- |
16/07/2014 |
31000000.0 |
L&T HOUSE, BALLARD ESTATE, MUMBAI MH400001IN |
|
4 |
C14306559 |
10431495 |
L & T FINANCE LIMITED |
13/06/2013 |
- |
16/07/2014 |
90000000.0 |
L&T HOUSE, BALLARD ESTATE, MUMBAI MH400001IN |
|
5 |
C14299002 |
10351458 |
L & T FINANCE LIMITED |
23/04/2012 |
- |
16/07/2014 |
35500000.0 |
L&T HOUSE, BALLARD ESTATE, MUMBAI MH400001IN |
|
6 |
B83080119 |
10315702 |
L & T FINANCE LIMITED |
31/10/2011 |
- |
22/08/2013 |
86000000.0 |
L&T HOUSE, BALLARD ESTATE, MUMBAI MH400001IN |
|
7 |
B56790199 |
10279471 |
ICICI BANK LIMITED |
30/03/2011 |
- |
08/08/2012 |
500000000.0 |
LANDMARKRACE COURCE CIRCLE ALKAPURI BARODA GJ390015IN |
|
8 |
B36680056 |
10285164 |
INDUSIND BANK LTD. |
17/05/2011 |
- |
29/03/2012 |
600000000.0 |
DR. GOPAL DAS BHAWAN28 BARAKHAMBA ROAD NEW DELHI DL110001IN |
|
9 |
B23216476 |
10228151 |
L & T FINANCE LIMITED |
20/05/2010 |
- |
21/09/2011 |
80000000.0 |
L&T HOUSE, BALLARD ESTATE, MUMBAI MH400001IN |
|
10 |
B07688443 |
10220200 |
L & T FINANCE LIMITED |
20/05/2010 |
- |
04/03/2011 |
24000000.0 |
L&T HOUSE, BALLARD ESTATE, MUMBAI MH400001IN |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
· Other 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 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 63.69 |
|
|
1 |
INR 90.35 |
|
Euro |
1 |
INR 79.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.