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|
MIRA INFORM REPORT
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Report No. : |
489269 |
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Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HAMMOND POWER SOLUTIONS PRIVATE LIMITED [w.e.f.19.06.2017] |
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Formerly Known
As : |
PETE - HAMMOND POWER SOLUTIONS PRIVATE LIMITED (w.e.f.03.09.2012) PAN ELECTROTECHNIC ENTERPRISES PRIVATE LIMITED |
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Registered
Office : |
D. No. 5-2/222/IP/B, 2nd Floor, Icon Plaza, Allwyn X-Road, Miyapur, Hyderabad – 500049, Telangana |
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Tel. No.: |
91-40-23812291/ 23813593 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
15.02.1988 |
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Com. Reg. No.: |
36-008310 |
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Capital
Investment / Paid-up Capital : |
INR 30.000 Million |
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CIN No.: [Company Identification
No.] |
U31909TG1988PTC008310 |
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GST No.: |
36AABCP2097C1ZM |
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IEC No.: |
Not Divulged |
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TIN No.: |
36030185722 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCP2097C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer
and Seller of Electrical Distribution and Power Transformers. Further, the Company
also provides Installation, Commissioning and Maintenance Services to its
customers. [Registered
Activity] |
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|
|
|
No. of Employees
: |
Not Divulged |
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 |
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Maximum Credit Limit : |
USD 705600 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Hammond Power Solutions, Canada and is
incorporated in the year 1988. Manufacturer and Seller of Electrical Distribution and Power
Transformers. Further, the Company also provides Installation, Commissioning
and Maintenance Services to its customers. As per the financial records of 2017, the company has achieved a
favourable growth of 17.22% in its revenue as compared to the previous year’s
revenue but has incurred operational losses during the year under the review. Rating takes into consideration the company’s strong parentage, long
established track record, healthy financial profile marked by above average
networth base, comfortable cash position and strong debt protection metrics
due to low debt balance sheet profile. Business is active. Payment seems to be usually correct. In view of the 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 (30.06.2017) |
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
NOT AVAILABLE
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 03.02.2018
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 DECLINED BY
|
Name : |
Mr. Samba |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9848990192 |
|
Date : |
02.02.2018 |
LOCATIONS
|
Registered Office : |
D. No. 5-2/222/IP/B, 2nd Floor, Icon Plaza, Allwyn X-Road,
Miyapur, Hyderabad – 500049, Telangana, India |
|
Tel. No.: |
91-40-23812291/ 23813593 |
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Mobile No.: |
91-9848990192 [Mr. Samba] |
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Fax No.: |
91-40-23706741 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 6A, I.D.A, Phase 1, Pashammailaram, Patancheru (M), Medak District - 502307, Telangana, India |
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Tel. No.: |
91-8455-224124/ 224187 |
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Fax No.: |
91-8455-224125 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Ravi Krishna Kolli |
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Designation : |
Managing Director |
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Address : |
63c, First Floor, Sri Sai Sadan Apartments, Sundarnagar Colony, Hyderabad 500038, Telangana, India |
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Date of Birth/Age : |
31.03.1973 |
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Date of Appointment : |
30.05.2016 |
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DIN No.: |
01733533 |
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Other Directorship:
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Name : |
Mr. Christopher Ross Huether |
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Designation : |
Director |
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Address : |
5123 TWP Road, 1 RR 7 LCD Royal City, Mail Guelph On N1H 6 J4 Ontario N1h6j4, Canada |
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Date of Birth/Age : |
13.04.1957 |
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Qualification : |
PG |
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Date of Appointment : |
27.02.2012 |
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DIN No.: |
05185956 |
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Name : |
Mr. William George Hammond |
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Designation : |
Director |
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Address : |
21 Westmount Rd Guelph On N1h 5h4 Ontario N1h5h4 Canada |
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Date of Birth/Age : |
28.04.1952 |
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Qualification : |
PG |
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Date of Appointment : |
27.02.2012 |
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DIN No.: |
05185965 |
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Name : |
Mr. John Allan Bolton |
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Designation : |
Director |
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Address : |
4, Brown Street, Guelph, Ontario 1P3 Canada |
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Date of Appointment : |
27.09.2016 |
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DIN No.: |
07655853 |
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KEY EXECUTIVES
|
Name : |
Mr. Samba |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Kolli Linga Reddy |
450000 |
15.00 |
|
Hammond Power Solutions INC, Canada |
2550000 |
85.00 |
|
|
|
|
|
Total |
3000000 |
100.00 |
AS ON 28.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
15.00 |
|
Promoters – Individual/ Hindu Undivided Family – Foreign
National (NRI) |
85.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Seller of Electrical Distribution and Power Transformers. Further, the
Company also provides Installation, Commissioning and Maintenance Services to
its customers. [Registered Activity] |
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Products : |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India · Punjab National Bank |
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Facilities : |
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Auditors : |
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Name : |
B S R and Associates LLP Chartered Accountants |
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Address : |
Salapuria Knowledge City, Orwell, 6th Floor, Unit-3, Raidurg, Hyderabad, Telangana, India |
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PAN No.: |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Hammond Power Solutions Inc. – Canada |
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Fellow subsidiary : |
Hammond Power Solutions S.p.a. – Italy |
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Enterprises where
KMP have significant influence : |
· KLR Engineers Private Limited · Epoxy Terminal and Equipment Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
216.964 |
234.278 |
207.896 |
|
(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) |
246.964 |
264.278 |
237.896 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
10.400 |
10.537 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
9.539 |
4.124 |
4.038 |
|
Total
Non-current Liabilities (3) |
9.539 |
14.524 |
14.575 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
142.527 |
75.099 |
32.893 |
|
(b)
Trade payables |
310.018 |
94.529 |
102.164 |
|
(c)
Other current liabilities |
159.719 |
127.623 |
118.006 |
|
(d)
Short-term provisions |
12.221 |
12.052 |
6.593 |
|
Total
Current Liabilities (4) |
624.485 |
309.303 |
259.656 |
|
|
|
|
|
|
TOTAL |
880.988 |
588.105 |
512.127 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
111.618 |
113.876 |
120.912 |
|
(ii)
Intangible Assets |
0.282 |
0.323 |
0.713 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.245 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
9.881 |
2.494 |
3.512 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
122.026 |
116.693 |
125.137 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
256.874 |
165.566 |
172.684 |
|
(c)
Trade receivables |
380.432 |
236.073 |
139.083 |
|
(d)
Cash and cash equivalents |
1.474 |
11.037 |
16.675 |
|
(e)
Short-term loans and advances |
120.142 |
57.797 |
58.167 |
|
(f)
Other current assets |
0.040 |
0.939 |
0.381 |
|
Total
Current Assets |
758.962 |
471.412 |
386.990 |
|
|
|
|
|
|
TOTAL |
880.988 |
588.105 |
512.127 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1033.267 |
881.468 |
710.540 |
|
|
|
Other Income |
7.191 |
18.321 |
7.482 |
|
|
|
TOTAL (A) |
1040.458 |
899.789 |
718.022 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
846.254 |
673.872 |
533.713 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(45.777) |
(8.599) |
(0.248) |
|
|
|
Employees benefits expense |
91.893 |
79.611 |
81.143 |
|
|
|
Conversion charges |
0.000 |
0.000 |
13.437 |
|
|
|
Other expenses |
146.221 |
83.721 |
72.975 |
|
|
|
TOTAL (B) |
1038.591 |
828.605 |
701.020 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.867 |
71.184 |
17.002 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.651 |
14.493 |
6.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(12.784) |
56.691 |
10.119 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.197 |
13.590 |
(23.659) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(22.981) |
43.101 |
33.778 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(5.667) |
16.719 |
9.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(17.314) |
26.382 |
23.873 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Basis] |
17.753 |
21.525 |
153.012 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
13.012 |
2.720 |
4.593 |
|
|
|
Plant and Equipment |
0.000 |
0.000 |
0.653 |
|
|
TOTAL IMPORTS |
13.012 |
2.720 |
5.246 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
(5.77) |
8.79 |
7.99 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
25.375 |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
(27.166) |
(30.065) |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(50.033) |
(36.139) |
22.468 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
134.39 |
97.75 |
71.45 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.72 |
3.73 |
5.11 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
133.71 |
51.20 |
69.87 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.01 |
0.43 |
0.10 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.02 |
0.62 |
0.14 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.71 |
0.53 |
0.51 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.58 |
0.28 |
0.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.53 |
1.17 |
1.09 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.45 |
0.43 |
0.51 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.13 |
4.91 |
2.47 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(1.68) |
2.99 |
3.36 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.97) |
4.49 |
4.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(7.01) |
9.98 |
10.04 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.22 |
1.52 |
1.49 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.80 |
0.99 |
0.83 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.45 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.75 |
2.50 |
1.10 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.22 |
1.52 |
1.49 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
207.896 |
234.278 |
216.964 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
237.896 |
264.278 |
246.964 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
32.893 |
75.099 |
142.527 |
|
Total
borrowings |
32.893 |
75.099 |
142.527 |
|
Debt/Equity ratio |
0.138 |
0.284 |
0.577 |
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 |
710.540 |
881.468 |
1033.267 |
|
|
|
24.056 |
17.221 |
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 |
710.540 |
881.468 |
1033.267 |
|
Profit/ (Loss) |
23.873 |
26.382 |
(17.314) |
|
|
3.36% |
2.99% |
-1.68% |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C52448222 |
90133570 |
STATE BANK OF INDIA |
10/06/1992 |
22/04/1996 |
20/04/2015 |
1480000.0 |
SECUNDERABAD BRANCHSIB DIVISIONSECUNDERABADAP500003IN |
|
2 |
C52449055 |
90135194 |
STATE BANK OF INDIA |
10/08/1990 |
27/06/2011 |
20/04/2015 |
177000000.0 |
SECUNDERABAD BRANCHPATNY CENTRE, BESIDE HPOSECUNDERABADAP500003IN |
|
3 |
C45944717 |
10303083 |
PUNJAB NATIONAL BANK |
29/07/2011 |
- |
24/02/2015 |
700000.0 |
SANATHNAGAR, DECCAN CHAMBERSERRAGADDAHYDERABADAP500018IN |
|
4 |
B21014105 |
10045173 |
PUNJAB NATIONAL BANK |
16/03/2007 |
- |
07/09/2011 |
344000.0 |
SANATHNAGAR BRANCHSANATHNAGARHYDERABADAP500018IN |
|
5 |
B20993572 |
10045373 |
PUNJAB NATIONAL BANK |
16/03/2007 |
- |
07/09/2011 |
271000.0 |
SANATHNAGAR BRANCHSANATHNAGARHYDERABADAP500018IN |
|
6 |
B19599802 |
10062508 |
PUNJAB NATIONAL BANK |
12/07/2007 |
- |
06/08/2011 |
340000.0 |
SANATHNAGAR BRANCHSANATHNAGARHYDERABADAP500018IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other loans and advances |
24.422 |
6.516 |
|
|
|
|
|
Total |
24.422 |
6.516 |
CHANGE OF ADDRESS:
The
Registered Office of the company has been shifted from G-9 to 11, Bhavya's Sree
Arcade, Erragadda, Hyderabad – 500018, Telangana, India to the present address
COMPANY OVERVIEW
Hammond Power Solutions Private Limited (Formerly ‘PETE - Hammond Power Solutions Private Limited’)(“the Company”) was incorporated on 15 February 1988 in accordance with the provisions of the Companies Act, 1956. The principle activity of the Company is to manufacture and sale of Electrical Distribution and Power Transformers. Further, the Company provides installation, commissioning and maintenance services to its customers.
The name of the Company has been changed from ‘PETE - Hammond Power Solutions Private Limited’ to ‘Hammond Power Solutions Private Limited’ with effect from 19 June 2017 with the approval of Board of Directors and the shareholders.
STATE OF
COMPANY'S AFFAIRS
During the period, the company has earned revenue from operations and other income of INR 1040.458 Million with a net loss of INR 17.314 Million.
FIXED ASSETS:
·
Land
·
Office building
·
Plant and equipment
·
Furniture and fixtures
·
Motor vehicles
·
Office equipment
· Computer equipments
· Copyrights, patents and other operating rights
· Services and operating rights
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.08 |
|
UK Pound |
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
BVA |
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.