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MIRA
INFORM REPORT
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Report No. : |
491917 |
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Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
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Name : |
MEGHA ENGINEERING AND INFRASTRUCTURES LIMITED |
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Registered
Office : |
S-2, Technocrat Industrial Estate, Balanagar, Hyderabad - 500037, Telangana |
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Tel. No.: |
91-40-44336700 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
07.06.2006 |
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Com. Reg. No.: |
36-050271 |
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Capital
Investment / Paid-up Capital : |
INR 1500.100 Million |
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CIN No.: [Company Identification
No.] |
U45202TG2006PLC050271 |
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IEC No.: |
Not Divulged |
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TIN No.: |
36199104026 |
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GST No.: |
36AAECM7627A1ZO |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECM7627A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Engineering, Procurement, Construction of Irrigation, Water Management, Power and Transmission Lines, Hydrocarbon, Transportation, Buildings and Industrial Infrastructures Projects. [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)
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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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Maximum Credit Limit : |
USD 113900000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Megha Engineering and Infrastructures Limited executes infrastructure projects on an engineering, procurement and construction basis in irrigation, drinking water supply, sewerage treatment, roads, power, hydrocarbon, etc. The company was incorporated in the year 2006 and is based in Hyderabad, Telangana. It is an established company excellent track record.
Trade relations are reported as fair. Business is active. Payment terms are seems to be regular and as per commitments.
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
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 |
INDIA RATING |
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Rating |
Long term rating = (A+) |
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Rating Explanation |
Adequate degree of safety and low credit risk |
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Date |
09.02.2018 |
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Rating Agency Name |
INDIA RATING |
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Rating |
Short term rating = (A1+) |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
09.02.2018 |
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 19.02.2018.
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. Rakesh |
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Designation : |
Not Divulged |
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Contact No.: |
91-40-44336700 |
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Date : |
14.02.2018 |
LOCATIONS
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Registered/ Head Office : |
S-2, Technocrat Industrial Estate, Balanagar, Hyderabad - 500037, Telangana,
India |
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Tel. No.: |
91-40-44336700 |
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Fax No.: |
91-40-44336800 |
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E-Mail : |
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Website : |
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Network Offices : |
Located at · Chennai · Margo · Bhopal · Bhubaneswar · Varanasi · Simaluguri |
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Regional Offices: |
Located at · New Delhi · Jaipur · Ahmedabad · Bangalore · Mumbai |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Tirupathi Rao Nadipineni |
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Designation : |
Whole-time Director |
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Address : |
Plot No.101, Sagar Society, Banjara Hills, Road No.2, Hyderabad - 500034, Andhra Pradesh, India |
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Date of Appointment : |
28.11.2009 |
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DIN No.: |
00055610 |
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Other Directorship :
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Name : |
Mr. Reddy Ravi Peddinti |
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Designation : |
Director |
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Address : |
N3/33, IRC Village Nayapalli, Bhubaneswar - 751015, Orrisa, India |
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Date of Appointment : |
01.09.2008 |
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DIN No.: |
00866243 |
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Other Directorship :
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Name : |
Mr. Pitchi Reddy Pamireddy |
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Designation : |
Whole-time Director |
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Address : |
8-2-293/82/A/265/P, Road No 10, Jubilee Hills, Hyderabad - 500003, Telangana, India |
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Date of Birth: |
01.10.1957 |
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Date of Appointment : |
07.06.2006 |
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DIN No.: |
01450174 |
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PAN No.: |
AANPP8623K |
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Other Directorship :
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Name : |
Mr. Rama Reddy Pamireddy |
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Designation : |
Director |
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Address : |
8-2-293/82/A/265/P, Road No 10, Jubilee Hills, Hyderabad - 500033, Telangana, India |
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Date of Appointment : |
07.06.2006 |
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DIN No.: |
01614179 |
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Other Directorship :
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Name : |
Mr. Venkatakrishna Reddy Puritipati |
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Designation : |
Managing Director |
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Address : |
H.No.8-2-293/82/A/295, Road No.25, Jubilee Hills, Hyderabad - 500033, Telangana, India |
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Date of Birth: |
30.06.1969 |
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Qualification : |
Graduate |
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Date of Appointment : |
07.06.2006 |
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PAN No.: |
AAQPP7020H |
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DIN No.: |
01815061 |
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Name : |
Mr. Puritipaati Sudharani |
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Designation : |
Director |
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Address : |
Plot No.295, H.No.8-2-293/82/A/295, Road No.25, Jubilee hills Hyderabad 500033, Telangana, India |
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Date of Appointment : |
01.09.2008 |
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DIN No.: |
02061208 |
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Name : |
Mr. Doraiah Palimpati |
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Designation : |
Whole-time Director |
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Address : |
8-3-320/G/106 Yellareddy Guda, Yousuf Guda, Hyderabad - 500073, Andhra Pradesh, India |
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Date of Birth: |
12.06.1957 |
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Qualification : |
Electrical Engineer |
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Date of Appointment : |
28.11.2009 |
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PAN No.: |
ACUPP3799B |
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DIN No.: |
02120726 |
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Name : |
Mr. Srinivas Reddy Bonthu |
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Designation : |
Whole-time Director |
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Address : |
Plot No 29, Nizampet Road, Vijetha Green Homes, Kukatpally, Hyderabad - 500072, Telangana, India |
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Date of Birth: |
10.08.1969 |
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Qualification : |
Management Graduate |
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Date of Appointment : |
28.11.2009 |
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PAN No.: |
AHTPB0699J |
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DIN No.: |
02331802 |
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Name : |
Mr. Chakka Peda Subbaiah |
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Designation : |
Whole-time Director |
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Address : |
C-6, Vora Towers, Madhuranagar, Ameerpet, Hyderabad - 500038, Andhra Pradesh, India |
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Date of Birth: |
15.04.1960 |
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Qualification : |
Civil Engineering |
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Date of Appointment : |
21.07.2012 |
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PAN No.: |
AFMPC0550L |
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DIN No.: |
03560382 |
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KEY EXECUTIVES
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Name : |
Chandra Kala Nandipeta |
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Designation : |
Company Secretary |
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Address : |
H. No. 3-5-92, Sri Laxmi Venkateshwara Nilayaym, Old Post Office Road, L.B. Nagar, Hyderabad - 500074, Telangana, India |
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Date of Appointment : |
08.07.2015 |
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PAN No.: |
ADZPN3230D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
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Names of Shareholders |
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No. of Shares |
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P P Reddy |
|
76483875 |
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P V Krishna Reddy |
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73470000 |
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P Rama Reddy |
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18750 |
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P Sudha Rani |
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18750 |
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P Manjali Reddy |
|
7500 |
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P Rajesh Reddy |
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375 |
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P V Subba Reddy |
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375 |
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P Raja Reddy |
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375 |
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P Sumanth Reddy |
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1666 |
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B Neelima |
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4167 |
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B Nandana |
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4167 |
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Total |
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150010000 |
AS ON: 30.09.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters (Individual/Hindu Undivided Family - Indian) |
99.99 |
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Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
0.01 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Engineering, Procurement, Construction of Irrigation, Water Management, Power and Transmission Lines, Hydrocarbon, Transportation, Buildings and Industrial Infrastructures Projects. [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 : |
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Facilities : |
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Financial Institution : |
· SREI Equipment Finance Limited 'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
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Auditors : |
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Name : |
Darapaneni and Company Chartered Accountants |
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Address : |
D-410, Krishna Apartments, Ameerpet, Hyderabad, Telangana, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAGFD6406K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate companies: |
· Green Brilliance Energy Private Limited [U40106GJ2007PTC051453] · Megha Fibre Glass Industries Limited [U74999TG2006PLC051913] · HKR Roadways Limited [U45203TG2010PLC069897] |
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Subsidiary
companies: |
· Meil Green Power Limited [U40108TG2011PLC072056] · Western U. P. Power Transmission Company Limited [U40105UP2009PLC038219] · Meil Holdings Limited [U45209TG2009PLC064573] · TP Power Holdings Private Limited [U67190TG2012PTC082656] · Meil Pura Limited [U93030TG2011PLC077278] · Meil (Bhubaneswar) Bulk Water Project Private Limited [U41000TG2014PTC093724] Meghavaram Power Private Limited · Meil Sai Rama Oil & Gas Private Limited · MEIL Media Limited · MEIL Foundation |
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Step-down
subsidiaries: |
· SEPC Power Private Limited [U93090TN1995PTC030660] · Koya and Company Construction Limited [U27109TG2002PLC038726] · JCE Engineering and Management Services Limited [U74899DL1989PLC034661] |
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Joint Ventures/
Consortiums: |
·
Meil-MAYTAS-WPIL ·
Meil-MAYTAS-ABB-AAG ·
EMCL-Meil ·
Maytas-Meil-ABB-AAG ·
HCC-MEIL-CBE ·
Meil-Gayatri-ZVS-ITT ·
HCC-MEIL-NCC-WPIL ·
Meil-IVRCL-HCC-WPIL ·
KCEL-MEIL ·
Meil-ZVS-Pvsrsn-ITT ·
Meil-Ratna-KBL ·
SAI RAMA-MEIL-Volgograd ·
Meil-KBL ·
Meil-Prasad-KBL ·
Meil-Ratna ·
Meil-Ratna Cons. ·
HCC-SEW-MEIL ·
SEW-MEIL-ZVST-AAG ·
NCC-MEIL-ZVST-SIGMA ·
IHP-MEIL-KCCPL-BRCCPL-AIPPL ·
JCPL-MEIL-KBL ·
PLR-MEIL-WPIL ·
AIPPL-MEIL · Meil-IVRCL · Meil-Maytas-KBL · Meil-KCCPL-Flowmore · Meil-SEW-Maytas-Bhel · Meil-SEW-ABB-AAG · IVRCL-MEIL · Optima-MEIL · Meil-SMC-WPIL(Dantiwada) · Meil-KBL-WEG · Meil-BRPCL-AIPPC · KBL-MEIL-KCCPL · Meil-KBL(KDWSP) · NCC-MEIL-IHP · SEW-MEIL-BHEL · HCC-Meil-BHEL · HCC-SEW-MEIL-AAG · Maytas-Meil-KBL · Maytas-Meil-ABB-AAG (PCL-07) · IVRCL-KBL-MEIL · MEIL-SMC-SNT · MEIL-ITT · MEIL-KEPCO · SEW-MEIL · IVRCL-MEIL (NC-28) · IVRCL-MEIL (NC-33) · Meil-Saisudhir-Pratibha · Meil-SMC · Meil-BRCCPL · Netafim-MEIL · KMC-MEIL-BEBL · Meil-OCIPL-MSPL · Meil-SPML · SPML-MEIL · SREE-MEIL · Meil-PRASAD · Meil-JYOTI · Meil-KCCL(KDWSP) |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives: |
· Interactive Data Systems Limited [U72900TG2010PLC068993] · Megha Structures Private Limited · Mcleod Hydro Power Ventures Private Limited · Sairama Engineering Enterprises |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325000000 |
Equity Shares |
INR 10/- each |
INR 3250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150010000 |
Equity Shares |
INR 10/- each |
INR 1500.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1500.100 |
1500.100 |
1500.100 |
|
(b) Reserves and Surplus |
38382.049 |
25201.737 |
17879.585 |
|
(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) |
39882.149 |
26701.837 |
19379.685 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
57.673 |
17.381 |
|
(b) Deferred tax liabilities (Net) |
594.778 |
223.340 |
229.083 |
|
(c) Other long-term
liabilities |
6664.911 |
7264.743 |
7094.432 |
|
(d) long-term
provisions |
78.720 |
63.554 |
40.647 |
|
Total Non-current
Liabilities (3) |
7338.409 |
7609.310 |
7381.543 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
4481.772 |
3589.730 |
3037.890 |
|
(b) Trade
payables |
15100.475 |
13003.273 |
9601.827 |
|
(c) Other
current liabilities |
39056.960 |
20986.442 |
19487.551 |
|
(d) Short-term
provisions |
393.285 |
897.427 |
350.994 |
|
Total Current
Liabilities (4) |
59032.492 |
38476.872 |
32478.262 |
|
|
|
|
|
|
TOTAL |
106253.050 |
72788.019 |
59239.490 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11059.670 |
4226.223 |
3829.041 |
|
(ii)
Intangible Assets |
8.792 |
6.584 |
11.393 |
|
(iii) Tangible assets
capital work-in-progress |
49.234 |
51.932 |
26.394 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7862.261 |
8993.925 |
8261.923 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1629.588 |
1742.130 |
3984.072 |
|
(e) Other
Non-current assets |
7721.646 |
4920.972 |
4668.482 |
|
Total Non-Current
Assets |
28338.746 |
19941.766 |
20781.305 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
12.001 |
12.001 |
181.026 |
|
(b)
Inventories |
2924.972 |
4364.443 |
1342.085 |
|
(c) Trade
receivables |
34156.245 |
14739.058 |
11021.177 |
|
(d) Cash and
bank balances |
8409.465 |
9720.963 |
7255.611 |
|
(e)
Short-term loans and advances |
15001.714 |
9982.032 |
6311.931 |
|
(f) Other
current assets |
17409.907 |
14027.756 |
12346.355 |
|
Total
Current Assets |
77914.304 |
52846.253 |
38458.185 |
|
|
|
|
|
|
TOTAL |
106253.050 |
72788.019 |
59239.490 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
84538.975 |
62650.954 |
49463.588 |
|
|
Other Income |
1816.957 |
981.966 |
758.331 |
|
|
TOTAL |
86355.932 |
63632.920 |
50221.919 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
43090.074 |
28872.524 |
20115.711 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
349.215 |
(7.712) |
2344.191 |
|
|
Employee benefit expense |
2510.137 |
1887.048 |
1576.494 |
|
|
CSR expenditure |
36.939 |
0.000 |
0.000 |
|
|
Other expenses |
24647.204 |
22469.901 |
19188.164 |
|
|
TOTAL |
70633.569 |
53221.761 |
43224.560 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
15722.363 |
10411.159 |
6997.359 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1799.133 |
1687.402 |
1306.706 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
13923.230 |
8723.757 |
5690.653 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
774.646 |
501.866 |
222.119 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
13148.584 |
8221.891 |
5468.534 |
|
|
|
|
|
|
|
Less |
TAX |
1628.432 |
809.464 |
519.813 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
11520.152 |
7412.427 |
4948.721 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export Earnings |
1443.151 |
2233.100 |
693.722 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
76.80 |
49.41 |
32.99 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
71.542 |
78.526 |
79.257 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(113.494) |
5846.697 |
2142.726 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(1628.718) |
4763.566 |
205.447 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
147.47 |
85.87 |
81.33 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.48 |
4.25 |
4.49 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
127.91 |
164.38 |
174.23 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
5.38 |
2.39 |
5.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.41 |
2.43 |
1.81 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.56 |
0.53 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.11 |
0.14 |
0.16 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.48 |
1.44 |
1.68 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.28 |
0.16 |
0.20 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8.74 |
6.17 |
5.35 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
13.63 |
11.83 |
10.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
10.84 |
10.18 |
8.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
28.89 |
27.76 |
25.54 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.32 |
1.37 |
1.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.27 |
1.26 |
1.14 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.38 |
0.37 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.04 |
2.48 |
2.09 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.32 |
1.37 |
1.18 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1500.100 |
1500.100 |
1500.100 |
|
Reserves & Surplus |
17879.585 |
25201.737 |
38382.049 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
19379.685 |
26701.837 |
39882.149 |
|
|
|
|
|
|
Long-term borrowings |
17.381 |
57.673 |
0.000 |
|
Short term borrowings |
3037.890 |
3589.730 |
4481.772 |
|
Current maturities of
long-term debts |
79.257 |
78.526 |
71.542 |
|
Total
borrowings |
3134.528 |
3725.929 |
4553.314 |
|
Debt/Equity
ratio |
0.162 |
0.140 |
0.114 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
49463.588 |
62650.954 |
84538.975 |
|
|
|
26.661 |
34.936 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
49463.588 |
62650.954 |
84538.975 |
|
Profit/ (Loss) |
4948.721 |
7412.427 |
11520.152 |
|
|
10.00
% |
11.83
% |
13.63
% |
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 |
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 |
No |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G76480417 |
100153487 |
SREI EQUIPMENT
FINANCE LIMITED |
14/01/2018 |
- |
- |
500000000.0 |
'VISHWAKARMA', 86C,
TOPSIA ROAD,KOLKATAWE700046IN |
|
2 |
G74043449 |
100147986 |
SREI EQUIPMENT
FINANCE LIMITED |
21/12/2017 |
- |
- |
500000000.0 |
'VISHWAKARMA', 86C,
TOPSIA ROAD,KOLKATAWE700046IN |
|
3 |
C68293224 |
10598838 |
IL&FS TRUST
COMPANY LIMITED |
24/09/2015 |
- |
- |
15250000000.0 |
THE IL&FS
FINANCIAL CENTRE, PLOT - C22, G BLOCKBANDRA-KURLA COMPLEX, BANDRA
EAST,MUMBAIMH400051IN |
|
4 |
C10117661 |
10507419 |
POWER FINANCE
CORPORATION LIMITED |
13/06/2014 |
- |
- |
37717200000.0 |
'URJANIDHI',
1,BARAKHAMBA LANE,CONNAUGHT PLACE,NEW DELHIDL110001IN |
|
5 |
B93552339 |
10470342 |
ANDHRA BANK |
19/12/2013 |
- |
- |
1000000000.0 |
BALANGAR
BRANCHT.I.E, BALANAGARHYDERABADAP500037IN |
|
6 |
G70074208 |
10411515 |
STATE BANK OF INDIA |
04/02/2013 |
29/11/2017 |
- |
81200000000.0 |
COMMERCIAL BRANCH
(04168), MID CORPORATE GROUPBANK STREET, KOTIHYDERABADTG500037IN |
|
7 |
G07262694 |
10359410 |
KOTAK MAHINDRA BANK
LIMITED |
08/06/2012 |
- |
22/06/2016 |
7489245.0 |
36-38A, NARIMAN
BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
8 |
G07423817 |
10374757 |
MAGMA FINCORP
LIMITED |
11/09/2012 |
- |
21/06/2016 |
150000000.0 |
MAGMA HOUSE24 PARK
STREETKOLKATAWB700016IN |
|
9 |
C74940222 |
10378271 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
03/09/2012 |
- |
30/12/2015 |
63000000.0 |
'VISHWAKARMA', 86C,
TOPSIA ROAD,KOLKATAWB700046IN |
|
10 |
C64327844 |
10128522 |
IDBI BANK LIMITED |
13/11/2008 |
04/12/2009 |
10/09/2015 |
1500000000.0 |
IDBI TOWERWTC
COMPLEXCUFFE PARADEMUMBAIMH400005IN |
FINANCIAL RESULTS AND
OPERATIONAL PERFORMANCE
During the year, the company has recorded a total revenue from operations of INR 87567.700 million as against INR 649.107 million in the previous year. During this financial year, the Company has earned Profit before Interest, Taxes, Depreciation, and Amortization (EBITDA) of INR 15722.300 million as against INR 10411.200 million in the previous financial year. The Company has earned the Profit after taxes of INR 11520.200 million after providing for INR 1799.100 million towards Interest & Finance Charges, INR 1628.400 million towards taxation and INR 774.600 million towards Depreciation as against PAT of INR 7412.400 million in the previous year.
FUTURE OUTLOOK
India’s 2016-2017 Union Budget provides a significant outlay for infrastructure expenditure. This spending is seen as a key component of the government plans to boost India’s annual growth levels to projections ranging between 7 and 9 percent. The allocation of US$ 32.41 to US$ 32.70 billion (INR 0.219 to 22.100) and a revitalized liberalized foreign direct investment (FDI) policy further underline the government commitment in this regard.
Infrastructure is a key driver for the Indian economy. Increased spending in this sector has a multiplier effect on overall economic growth as it drives industrial growth and manufacturing. This in turn boosts aggregate demand by improving living conditions. The infrastructure sector is wide-ranging and includes electricity, roads, airports, railways, water systems, public utilities, and telecommunications, the development of which raises the country’s economic productivity. Highways, ports, airports, roads, and rail are all necessary conduits for commerce, making their construction, improvement, and expansion vital indicators of economic wellbeing.
For these reasons, the Indian government has promoted investments in infrastructure, providing benefits such as the easing of tax restrictions and providing multiple financing alternatives. Such a focus on investment to boost GDP is a clear departure from previous consumption-led growth strategies. This is reflected in the total budgetary allocation of INR 1373330.000 Million or almost 30 percent of the Union Budget.
Under the present government, an increasing number of projects are being commissioned that target the expansion and improvement of consumer utilities, transportation, and communication needs, showcasing the priority given to the infrastructure sector. Forging relationships with private and foreign investors has additionally introduced long-term sustainability and global best practices in the infrastructure industry. Enabling this further are important government initiatives to ensure policy stability, ease of financing, transparency, and various legal and regulatory reforms. All of this projects a healthy outlook for investing in the sector.
In this financial year, the Company has shown its remarkable capability to deliver large projects under highly compressed time schedules. These record breaking timelines have not only monetary value to the Company but also helped in establishing the Company's brand value in the infrastructure sector. In addition, they foresee that the completion of their off shore projects in the near future should also add greatly to the branding of the Company as a global player. In this scenario, The Board is more than confident that MEIL can capture the future market inside and outside India - and continue to grow with its high caliber management skills, diversified portfolio and risk mitigation strategies.
MERGER OF MEIL GREEN POWER LIMITED
i) MEIL Green Power Limited is engaged in power generation and distribution. MEIL Green Power is a Wholly owned subsidiary of the company.
ii) Pursuant to the scheme of amalgamation of MEIL Green Power Limited, a Wholly owned subsidiary (“Transferor Company”) with the company, as sanctioned by the Hon’ble High Court of Judicature at Hyderabad for the State of Telangana and for the State of Andhra Pradesh, the assets and liabilities of the Transferor company were transferred to and vested with the Company with effect from the Appointed date April 01,
2015.
iii) The amalgamation has been accounted for under the ‘pooling of interests’ method as prescribed by Accounting Standard 14 specified under Section 133 of the Companies Act 2013, read with Rule-7 of the Companies (Accounts) Rules, 2014. Accordingly, the assets, liabilities and reserves of the ‘Transferor Company as at April 1, 2015 have been taken over at their book values and in the same form.
iv) There were no differences between the accounting policies of the transferor company and the company which requires adjustment in the books of the company.
v) Consequent to the scheme of amalgamation, the authorized share capital of the Transferor Company stand cancelled. Also since the merger is of the wholly owned subsidiary with its parent company, no shares were exchanged to effect the amalgamation.
vi) Since the amalgamation is an ‘amalgamation in the nature of merger’, the identity of the reserves is preserved and they appear in the financial statements of the transferee company in the same form in which they appeared in the financial statements of the transferor company. Accordingly, and as provided in the scheme of amalgamation, the following amounts have been adjusted against the general reserve / Credit Balance of Profit and Loss of the Company:
Further to the above, the transferor company has maintained the books of account as a trustee of transferee company till the date of getting various approvals i.e., from shareholders, honorable courts and Register of Companies due to which it is not practicable to account the day to day transactions of the transferor company in the books of transferee company, hence the transferee company accounted the merger effect in the books of transferee company as at March 31, 2016.
|
Particulars |
INR in
Million |
|
Debit balance in the Statement of Profit and Loss of the Transferor Company as on April 1, 2015 adjusted against Credit Balance of Profit and Loss of the Transferee Company |
(10599.874) |
|
Difference between the amount recorded as
investments in the books of the Transferee Company and the amount of share
capital of the Transferor Company |
|
|
Amount of Investment in Transferee Company |
1219.519 |
|
Amount of paid-up share capital in Transferor Company |
(1219.519) |
|
Effect |
Nil |
vii) Details of assets and liabilities
taken over on
|
Particulars |
INR in
Million |
|
|
Balance as
at April 01, 2015 |
|
Assets |
|
|
Non-Current Assets |
|
|
Fixed Assets |
6079.285 |
|
Long Term Loans and Advance |
3.464 |
|
|
|
|
Current Assets |
|
|
Trade Receivables |
79.953 |
|
Cash and Bank Balances |
0.936 |
|
Loans and Advances and Other Assets |
2.341 |
|
Total Assets |
6165.978 |
|
|
|
|
Liabilities |
|
|
Non-Current Liabilities |
|
|
Long-term Liabilities |
4930.307 |
|
Current Liabilities |
|
|
Other Current Liabilities |
3.322 |
|
Short-term borrowings |
23.431 |
|
|
|
|
Total Liabilities |
4957.060 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipment’s
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 63.91 |
|
UK Pound |
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SHK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
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.