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MIRA INFORM REPORT
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Report No. : |
483881 |
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Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
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Name : |
DOOSAN POWER SYSTEMS INDIA PRIVATE LIMITED (w.e.f.16.10.2012) |
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Formerly Known
As : |
DOOSAN CHENNAI WORKS PRIVATE LIMITED
(w.e.f.21.02.2011) AE AND E CHENNAI WORKS PRIVATE LIMITED (w.e.f.30.09.2009) AE AND E CHENNAI WORKS LIMITED BABCOCK BORGIS POWER CHENNAI WORKS LIMITED |
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Registered
Office : |
Unit No. FF-35, Vasant Square, Plot No. A, Commuinity Centre,
Pocket-V, Sector-B, Vasant Kunj, New Delhi – 110070 |
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Mob. No.: |
91-9818459450 [Mr. Anil Sinha] |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of Incorporation
: |
20.07.2000 |
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Com. Reg. No.: |
55-258626 |
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Capital
Investment / Paid-up Capital : |
INR 3409.632 Million |
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CIN No.: [Company Identification
No.] |
U31101DL2000PTC258626 |
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCB5946J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer,
Job Work and Importer of Boiler Pressure Parts viz. Panels, Headers and Coils
and Designing, Building, Installation and Maintaining Engineering Plants
Relating to Thermal and Coal Power Plants. [Registered activity and also
confirmed by management] |
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No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 17900000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Doosan Heavy Industries & Construction Company Limited, Korea”. It was incorporated in the year 2000. It is engaged in EPC for power projects, manufacturing of boilers, boiler parts and repair & maintenance services for thermal power projects. As per Registrar Of Companies the date of balance sheet (i.e. financial filed) is shown as 31-03-2017 but the documents related to the financial for the year 2017 are not available from any sources. The company has strong financial base, healthy capital structure along with average debt balance sheet. Rating takes into consideration unconditional and irrevocable corporate guarantee received to the company along with strong managerial support from its holding entity. Rating also takes into account of well-established track record of business operations, leading player in power equipment as EPC business worldwide and DPSI’s established presence in India. However, rating strength is partially offset by company has registered decrease in its revenue from operation and reported losses during the year 2016. Trade relations are reported as fair. Business is active. Payments are regular. The company can be considered for business dealings at usual trade terms and condition. |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
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
|
Rating Agency Name |
CARE RATING |
|
Rating |
Short Term Rating = A1+ (SO)* (Structured
Obligation) |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
30.10.2017 |
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 01.01.2018.
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 PARTED BY
|
Name : |
Mr. Anil Sinha |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9818459450 |
LOCATIONS
|
Registered Office : |
Unit No. FF-35, Vasant Square, Plot No. A, Commuinity Centre, Pocket-V,
Sector-B, Vasant Kunj, New Delhi – 110070, India |
|
Tel. No.: |
91-11-40000255 |
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Mobile No.: |
91-9818459450 [Mr. Anil Sinha] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Corporate Office : |
16th Floor, DLF Square Building, Jacaranda Marg, DLF Phase
I, Gurgaon – 122002, Haryana, India |
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Tel. No.: |
91-124-4398200 |
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Fax No.: |
91-124-4247006 |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
18/2A, Sennerkuppam-By-Pass Road, Poonamallee Road, Poonammallee,
Chennai – 600056, Tamilnadu, India |
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Tel. No.: |
91-44-66455566/ 33035000 |
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Fax No.: |
91-44-66455501 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Myeongho Jang |
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Designation : |
Nominee Director |
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Address : |
Raemian Sur, 326-903, 12, Byeoryang Ro Gwacheon-Si, Gyeonggido, NA,
Korea Republic of. |
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Date of Birth/Age : |
07.02.1964 |
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Date of Appointment : |
25.01.2013 |
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DIN No.: |
06481086 |
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Name : |
Mr. Jong Seok Park |
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Designation : |
Wholetime Director |
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Address : |
Flat No. 141, Block-C, DLF Pinnacle, DLF Phase-V, Gurugram
– 122001, Haryana, India |
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Date of Birth/Age : |
14.09.1968 |
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Date of Appointment : |
06.08.2014 |
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DIN No.: |
06926541 |
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Name : |
Mr. Dukhee Jeong |
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Designation : |
Wholetime Director |
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Address : |
Flat No.5A, 5th Floor, 10 Downing Apartment No.63 Greenway
Road, R A Puram Chennai – 600028, Tamilnadu, India |
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Date of Birth/Age : |
31.10.1969 |
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Date of Appointment : |
22.12.2014 |
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DIN No.: |
07044677 |
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Name : |
Mr. Jitaik Chung |
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Designation : |
Nominee Director |
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Address : |
Poscothe APT 102-2203 417 Samseong -RO Gangnam -GU Seoul
Metropolitan Na Kr |
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Date of Birth/Age : |
21.03.1950 |
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Date of Appointment : |
17.03.2015 |
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DIN No.: |
07108083 |
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Name : |
Mr. Chang Seob Son |
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Designation : |
Managing Director |
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Address : |
Flat No. Building 252 Tower D The Belaire, DLF Phase- V,
Gurugram – 122002, Haryana, India |
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Date of Birth/Age : |
28.03.1955 |
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Date of Appointment : |
25.06.2015 |
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DIN No.: |
07218781 |
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Name : |
Mr. Sangju Jeong |
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Designation : |
Wholetime Director |
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Address : |
Flat No. D, 201, The Belaire DLF Phase-V, Gurugram –
122002, Haryana, India |
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Date of Birth/Age : |
06.11.1967 |
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Date of Appointment : |
19.08.2015 |
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DIN No.: |
07265797 |
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Name : |
Mr. Yong Jin Song |
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Designation : |
Nominee Director |
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Address : |
Botteulmaeul 902-403 156 Dongpangyo-RO Bundang-GU
Seongnam-SI Gyeonggido NA Korea |
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Date of Birth/Age : |
05.04.1969 |
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Date of Appointment : |
04.11.2015 |
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DIN No.: |
07301865 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Kumar Sinha |
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Designation : |
Company Secretary |
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Address : |
B-75A, Shiv Park, Khanpur, New Delhi – 110074, India |
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Date of Appointment : |
10.10.2012 |
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PAN No.: |
AOHPS6406B |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
No. of Shares |
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Doosan Heavy Industries and Construction Company Limited, Korea |
|
33908401 |
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Doosan Power System Overseas Investments Limited, U.K. |
|
187922 |
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Total |
|
34096323 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Job Work and Importer of Boiler Pressure Parts viz. Panels, Headers and Coils
and Designing, Building, Installation and Maintaining Engineering Plants
Relating to Thermal and Coal Power Plants. [Registered activity and also
confirmed by management] |
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Products / Services
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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 : |
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Products : |
Merchandise |
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Countries : |
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Terms : |
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Selling : |
Cheque and Credit, NEFT |
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Purchasing : |
Cheque and Credit, L/C |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
800 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
7th Floor, Building 10, Tower- B, DLF Cyber City Complex.
DLF City Phase- II, Gurugram - 122002, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD2095B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Doosan Heavy Industries and Construction Company Limited, Korea , Republic Of |
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Fellow Subsidiary
Company : |
U40101DL2004PTC130312
U29248TN2007FTC082032
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CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
36551500 |
Equity Shares |
INR 100/- each |
INR 3655.150 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
34096323 |
Equity Shares |
INR 100/- each |
INR 3409.632 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
3409.632 |
3409.632 |
3409.632 |
|
(b) Reserves &
Surplus |
2881.736 |
3916.826 |
3526.767 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
6291.368 |
7326.458 |
6936.399 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
3743.767 |
2848.290 |
7097.973 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
482.036 |
490.320 |
412.376 |
|
Total Non-current
Liabilities (3) |
4225.803 |
3338.610 |
7510.349 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5509.059 |
6039.391 |
4129.622 |
|
(b) Trade payables |
5165.773 |
9556.786 |
6694.558 |
|
(c) Other current
liabilities |
2810.543 |
3095.625 |
3694.172 |
|
(d) Short-term provisions |
27.381 |
77.001 |
54.715 |
|
Total Current Liabilities
(4) |
13512.756 |
18768.803 |
14573.067 |
|
|
|
|
|
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TOTAL |
24029.927 |
29433.871 |
29019.815 |
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4801.190 |
4878.309 |
5148.492 |
|
(ii) Intangible Assets |
82.082 |
122.522 |
158.319 |
|
(iii) Capital
work-in-progress |
5.116 |
65.102 |
15.433 |
|
(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) |
113.390 |
113.390 |
86.427 |
|
(d) Long-term Loan and Advances |
387.767 |
425.313 |
1491.411 |
|
(e) Other Non-current
assets |
6835.231 |
5045.750 |
7525.087 |
|
Total Non-Current Assets |
12224.776 |
10650.386 |
14425.169 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
46.704 |
227.543 |
10.173 |
|
(c) Trade receivables |
2405.773 |
5321.472 |
4041.657 |
|
(d) Cash and cash
equivalents |
613.205 |
899.907 |
2729.129 |
|
(e) Short-term loans and
advances |
1284.226 |
2191.631 |
3458.819 |
|
(f) Other current assets |
7455.243 |
10142.932 |
4354.868 |
|
Total Current Assets |
11805.151 |
18783.485 |
14594.646 |
|
|
|
|
|
|
TOTAL |
24029.927 |
29433.871 |
29019.815 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
15064.808 |
33924.560 |
33240.906 |
|
|
|
Other Income |
198.140 |
193.623 |
103.515 |
|
|
|
TOTAL |
15262.948 |
34118.183 |
33344.421 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials Consumed |
8474.266 |
23017.061 |
22951.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(12.019) |
(0.172) |
54.728 |
|
|
|
Employees benefits expense |
2297.278 |
2178.486 |
1807.203 |
|
|
|
CSR Expenditure |
8.132 |
1.557 |
0.000 |
|
|
|
Other expenses |
4174.813 |
7090.807 |
6404.381 |
|
|
|
TOTAL |
14942.470 |
32287.739 |
31217.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
320.478 |
1830.444 |
2127.109 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
990.742 |
905.478 |
663.137 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(670.264) |
924.966 |
1463.972 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
443.318 |
424.045 |
387.465 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(1113.582) |
500.921 |
1076.507 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
176.704 |
371.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(1113.582) |
324.217 |
704.976 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
17799.199 |
|
|
|
Capital Goods |
NA |
NA |
14.110 |
|
|
TOTAL IMPORTS |
NA |
NA |
17813.309 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
(32.66) |
9.51 |
21.66 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1050.744 |
(3224.535) |
(2114.175) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
58.29 |
57.25 |
44.38 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.26 |
6.38 |
8.22 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
222.50 |
151.55 |
106.47 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
6.86 |
8.04 |
209.09 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.07 |
0.36 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.56 |
0.64 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.88 |
0.82 |
0.60 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.15 |
2.56 |
2.10 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.78 |
0.69 |
0.77 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.32 |
2.02 |
3.21 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(7.39) |
0.96 |
2.12 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(4.63) |
1.10 |
2.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(17.70) |
4.43 |
10.16 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.87 |
1.00 |
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.87 |
0.99 |
1.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.26 |
0.25 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.62 |
1.77 |
1.21 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.87 |
1.00 |
1.00 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
3409.632 |
3409.632 |
3409.632 |
|
Reserves & Surplus |
3526.767 |
3916.826 |
2881.736 |
|
Net worth |
6936.399 |
7326.458 |
6291.368 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
4129.622 |
6039.391 |
5509.059 |
|
Total borrowings |
4129.622 |
6039.391 |
5509.059 |
|
Debt/Equity ratio |
0.595 |
0.824 |
0.876 |
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 |
33240.906 |
33924.560 |
15064.808 |
|
|
|
2.057 |
(55.593) |
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 |
33240.906 |
33924.560 |
15064.808 |
|
Profit/(Loss) |
704.976 |
324.217 |
(1113.582) |
|
|
2.12% |
0.96% |
(7.39%) |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: Registered office of
the company has been shifted from 18/2A, Sennerkuppam-By Pass -Road,
Poonamallee Road, Poonamallee, Chennai – 600056, Tamilnadu, India to the
present address w.e.f. 15.09.2013.
CORPORATE INFORMATION
Doosan Power Systems India Private Limited (‘the Company’) was incorporated on 20th July, 2000 to carry on the business of manufacturing/ job work of boiler pressure parts viz. panels, headers and coils and designing, building, installation and maintaining engineering plants relating to thermal and coal power plants. The Company is also carrying out business of execution of turnkey projects of steam generating equipment, supply of spares and providing related services.
The accompanying financial statements reflect the results of the activities undertaken by the Company during the year ended March 31, 2016.
REVIEW OF OPERATIONS
The Total revenue of the Company during the year was INR 15262.950 million as against INR 34118.180 million in the previous year. The Loss after tax was INR 1113.580 million as against the profit after tax INR 324.210 million in the previous year. Figures of previous year have been re-grouped, wherever necessary to conform to the Current Years classification.
The Directors are continuously looking for avenues for future growth of the Company.
FUTURE OUTLOOK
India’s GDP is projected to grow at a robust place. In contrast to the other developing country India’s growth remainsturdy with a strong investment sentiment and the positive effect. Improving infrastructure and greater ease of doing business. The current optimistic economy and introduction of favorable policies reforms are advantageous for the EPC business. The government now taking the various initiatives. The Government is giving priority to address the needs of Infrastructure sector. The Government of India has issued an ambitious plan of Electricity for all by 2019’ schemes to support power generation sector.
The Company was awarded the Project from Toshiba for SG package at Harduaganj Thermal Power Station Extension –II, (1X660 MW) approx. INR 8400.000 INR.
The Company was awarded the Project from NTPC for CIF Supply of Balance Work of main Plant package for Barh Super Thermal Power Project- Stage –I (3X660 MW) approx. INR 2500 Crore
The Company has been L1, in two EPC Packages for OBRA “C” 2X 660 MW Thermal Power Extension Project and Jawaharpur Super Thermal Power Station (2x660 MW) project owned by UP Rajya Vidyut Upadation Nigam Limited with Contract value approx., INR 16,000 crore. Hopefully the Letter of Intent is expected to be receive by October, 2016.
The Company has consolidated its capabilities across the power value chain for New as well as Renovation and Modernization (RandM) projects in the capacity of EPC Contractor. The Company is taking all necessary steps for getting the new projects and reduction in cost wherever required. The Company is in process to bid various upcoming tenders of NTPC and other Power generation Companies.
In view of the variousinitiatives and policy measures being taken by the Govt., theoutlook for overall growth of Indian economy, construction and infrastructure in particular seems to be healthy and promising.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
SHORT TERM
BORROWING |
|
|
|
Other loans and advances |
372.871 |
1364.113 |
|
Loans repayable on demand from banks |
636.188 |
875.278 |
|
Rupee term loans from banks |
4500.000 |
3800.000 |
|
|
|
|
|
Total |
5509.059 |
6039.391 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G36125243 |
100077636 |
AXIS BANK LTD. (AS GUARANTEE FACILITY PROVIDER) |
23/01/2017 |
- |
- |
15400000000.0 |
2ND FLOOR, RED FORT CAPITAL, PARSVNATH TOWERS,GOLE MARKET, BHAI VEER SINGH MARG,NEW DELHIDL110001IN |
|
2 |
G36229268 |
100078062 |
AXIS BANK LTD. (AS GUARANTEE FACILITY PROVIDER) |
19/01/2017 |
- |
- |
16800000000.0 |
2ND FLOOR, RED FORT CAPITAL, PARSVNATH TOWERS,GOLE MARKET, BHAI VEER SINGH MARG,NEW DELHIDL110001IN |
|
3 |
G32607459 |
100070406 |
ICICI BANK LIMITED |
14/12/2016 |
- |
- |
2000000000.0 |
ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN |
|
4 |
G30240931 |
100066663 |
ICICI BANK LIMITED |
22/11/2016 |
- |
- |
2000000000.0 |
ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN |
|
5 |
G62083399 |
100051764 |
YES BANK LIMITED |
19/08/2016 |
17/07/2017 |
- |
3400000000.0 |
48, Nyaya MargChanakyapuri,New DelhiDL110021IN |
|
6 |
C04551719 |
10244509 |
Axis Bank Limited |
06/10/2010 |
09/08/2011 |
30/04/2014 |
250000000.0 |
CORPORATE BANKING BRANCH, GROUND FLOORKARUMUTHU NILAYAM, 192, ANNA SALAICHENNAITN600002IN |
FIXED ASSETS:
- Building
- Factory
Equipment
- Plant and
Equipment
- Furniture and
Fixture
- Vehicle
- Motor Vehicle
- Computer
Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.92 |
|
|
1 |
INR 86.06 |
|
Euro |
1 |
INR 76.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
SUJ |
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.