|
|
|
MIRA INFORM REPORT
|
Report No. : |
484151 |
|
Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KARNATAKA POWER CORPORATION LIMITED (w.e.f. 01.10.1980) |
|
|
|
|
Formerly Known
As : |
MYSORE POWER CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
“Shakthi Bhavan” No.82, Race Course Road, Bangalore-560 001, Karnataka |
|
Tel. No.: |
91-80-22256568/ 22269930 – 37/ 22252144 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
20.07.1970 |
|
|
|
|
Com. Reg. No.: |
08-001919 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 43464.486 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1970SGC001919 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK8032D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Generation of Electricity. (Registered Activity) |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 250000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a “Government of Karnataka” own undertaking company and it
was incorporated in the year 1970. Management has failed to file its latest financials with Government
Registry. As per financials of March 2016, the company has registered growth of
20.24% in its revenue as compared to its previous year’s revenue and has
reported average profit margin of 2.27%. Rating takes into consideration the subject’s established track record
of business operations marked by healthy net worth base along with average
debt coverage indicators and good liquidity position. Rating takes into account the strong financial support received from
Government of Karnataka (GOK). Payments are reported to be slow but correct. In view of aforesaid, the company can be considered good for business
dealings at usual trade terms and conditions.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 04.01.2018
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 DENIED
Management non-cooperative (Tel No.: 91-80-22256568/ 22250940)
LOCATIONS
|
Registered Office : |
“Shakthi Bhavan” No.82, Race Course Road, Bangalore-560 001, Karnataka, India |
|
Tel. No.: |
91-80-22256568/ 22269930 – 37 |
|
Fax No.: |
91-80-22252144 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Project Offices: |
Located At:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Kumar Naik Govindaswamy |
|
Designation : |
Managing Director |
|
Address : |
No.317, 15th Cross Dollar's Colony, RMV II Stage, Bangalore- 560094, Karnataka, India |
|
Date of Appointment : |
22.04.2016 |
|
DIN No: |
01918435 |
|
|
|
|
Name : |
Mr. Jawaid Akhtar |
|
Designation : |
Director |
|
Address : |
No. 315, 15th Cross, 5th Main, Dollars Colony, RMV 2nd Stage, Bangalore- 560094, Karnataka, India |
|
Date of Appointment : |
27.05.2015 |
|
DIN No: |
00385170 |
|
|
|
|
Name : |
Mr. Rakesh Singh |
|
Designation : |
Director |
|
Address : |
No 1, Bangalore Diary Quarters, Dr. MH Marigowda Road, Bangalore-560029, Karnataka, India |
|
Date of Appointment : |
08.03.2016 |
|
DIN No: |
00828166 |
|
|
|
|
Name : |
Mr. Inturi Srinivas Nagesh Prasad |
|
Designation : |
Director |
|
Address : |
H.No.C-2, 1st B Main Road, Block-7, HSR Layout, Sector-VI Bangalore-560034, Karnataka, India |
|
Date of Appointment : |
06.09.2013 |
|
DIN No: |
01469651 |
|
|
|
|
Name : |
Mr. Shivakumar Kempegowda Doddahalahalli |
|
Designation : |
Director |
|
Address : |
No. 602.A5, 18th Cross, Upper Palace Orchards, Sadashivanagar, Malleswaram, Bangalore-560080, Karnataka, India |
|
Date of Appointment : |
13.02.2014 |
|
DIN No: |
02021885 |
|
|
|
|
Name : |
Poondla Ravi Kumar |
|
Designation : |
Director |
|
Address : |
No. 373, 12th Cross, 5main, HIG Colony New Bel Road, Bangalore- 560094, Karnataka, India |
|
Date of Birth/Age : |
03.05.1962 |
|
Date of Appointment : |
21.10.2017 |
|
DIN No: |
02285126 |
|
|
|
|
Name : |
Mr. Ramu Nagaraja |
|
Designation : |
Director |
|
Address : |
No. 320, 6th A Cross, 8th Main, Hampinagar, Vijayanagar, 2nd Stage, Bangalore-560040, Karnataka, India |
|
Date of Appointment : |
03.03.2010 |
|
DIN No: |
03108629 |
|
|
|
|
Name : |
Mr. Puttamadaiah Bhaskar |
|
Designation : |
Wholetime Director |
|
Address : |
Executive Director (T), Type-II-1.2, RTPS Colony, KPCL, Shaktinagar, Raichur 584170, Karnataka, India |
|
Date of Appointment : |
05.03.2013 |
|
DIN No: |
06558130 |
|
|
|
|
Name : |
Mr. Siddaramaiah |
|
Designation : |
Director |
|
Address : |
No.206/2, 16th Cross, M C Layout, Vijayanagar, Bangalore-560004, Karnataka, India |
|
Date of Appointment : |
21.05.2013 |
|
DIN No: |
06609424 |
|
|
|
|
Name : |
Mrs. Suma Vasantha |
|
Designation : |
Director |
|
Address : |
Tarini Near KSRTC Depot, Jayanagar Extension Madikeri, Mercara, Kodagu-571201, Karnataka, India |
|
Date of Appointment : |
29.06.2015 |
|
DIN No: |
07246067 |
|
|
|
|
Name : |
Mr. Muniraju |
|
Designation : |
Director |
|
Address : |
K G F Road, Nethajinagara, Mulbagal-563131, Karnataka, India |
|
Date of Appointment : |
01.06.2016 |
|
DIN No: |
07532737 |
|
|
|
|
Name : |
Mr. Bakkappa Mallappa Sherikar |
|
Designation : |
Director |
|
Address : |
16, Shekhapur, Shekhapur, Bidar-585403, Karnataka, India |
|
Date of Appointment : |
02.06.2016 |
|
DIN No: |
07533818 |
|
|
|
|
Name : |
Mr. Shivappa Ambli Bharamappa |
|
Designation : |
Director |
|
Address : |
At: Belakeri, Post Bisalahalli, Byadagi TQ-581106, Karnataka, India |
|
Date of Appointment : |
09.06.2016 |
|
DIN No: |
07540017 |
|
|
|
|
Name : |
Rayanagouda Basanagouda Patil |
|
Designation : |
Director |
|
Address : |
248, Muddebihal, Muddebihal-586212, Karnataka, India |
|
Date of Appointment : |
22.06.2016 |
|
DIN No: |
07549891 |
|
|
|
|
Name : |
Luthfulla Khan Atheeq |
|
Designation : |
Director |
|
Address : |
No.84, M.C.H.S. Layout, H.S.R., Sector-4, Bangalore-560102, Karnataka, India |
|
Date of Appointment : |
02.07.2016 |
|
DIN No: |
07558795 |
KEY EXECUTIVES
|
Name : |
K. Narayana Swamy and Company |
|
Designation : |
Company Secretary |
|
Address : |
“Amudhasurabhi”, No.48, 8th Cross, Visvesvaraya Colony, Akash
Nagar, B.N. Pura Extension, Bangalore - 560016. Karnataka, India |
|
Tel. No: |
91-80-25605030 |
|
Mobile No: |
91-9845312012 |
|
Email: |
|
|
|
|
|
Name : |
S. Balasubramanian |
|
Designation : |
Company Secretary |
|
Address : |
No.319, KPC Layout, Kasavanahalli, Carmelram Post, Bangalore – 560035,
Karnataka, India |
|
|
|
|
Name : |
Sudhir V. Hulyalkar |
|
Designation : |
Company Secretary |
|
Address : |
16/8, Ground Floor, 2nd Cross, Gupta Layout, South End Road, Basavanagudi, Bangalore - 560 004, Karnataka, India |
|
Tel. No: |
91-80-26640932 |
|
Mobile No: |
91-9844266159 |
|
Email: |
|
|
|
|
|
Name : |
Mr. Ramamurthy Balasubramanian |
|
Designation : |
Company Secretary |
|
Address : |
No.319, KPC Layout, Kasavanahalli, Bangalore-560035, Karnataka, India |
|
Date of Appointment : |
18.03.1981 |
|
PAN No.: |
ABWPB5705G |
|
|
|
|
Name : |
Mr. Ramu Nagaraja |
|
Designation : |
Chief Finance Officer |
|
Address : |
No. 320, 6th A Cross, 8th Main, Hampinagar, Vijayanagar, 2nd Stage, Bangalore-560040, Karnataka, India |
|
Date of Appointment : |
20.09.2014 |
|
PAN No.: |
ABEPN5172D |
MAJOR SHAREHOLDERS
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Governor of Karnataka (Represented by P. Ravikumar, IAS |
|
43464480 |
|
Maheshwar Rao, IAS |
|
1 |
|
ISN Prasad, IAS |
|
1 |
|
R. Nagaraja |
|
1 |
|
GN Yadravi |
|
1 |
|
P. Bhaskar |
|
1 |
|
AA Chapparband |
|
1 |
|
Total |
|
43464486 |
As on 21.05.2016
|
Names of Allottees |
|
No. of Shares |
|
Governor of Karnataka (Represented by P. Ravikumar, IAS |
|
4230000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2016
|
Category |
Percentage |
|
Promoters (Government - Government companies) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Generation of Electricity. (Registered Activity) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Suri and Company Chartered Accountants |
|
Address : |
24/2, 2nd Floor, Norris Road, Richmond Town, Bangalore –
560025, Karnataka, India |
|
Tel. No.: |
91-80-41240545/ 41270545 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS5023Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
KPC Bidadi Power Corporation Limited (U40102KA1996SGC020337) |
|
|
|
|
Joint Venture: |
|
CAPITAL STRUCTURE
After: 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51000000 |
Equity Shares |
INR 1000/- each |
INR 51000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47694486 |
Equity Shares |
INR 1000/- each |
INR 47694.486 Million |
|
|
|
|
|
As on: 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51000000 |
Equity Shares |
INR 1000/- each |
INR 51000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43464486 |
Equity Shares |
INR 1000/- each |
INR 43464.486 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
43464.486 |
41406.686 |
34069.686 |
|
(b) Reserves & Surplus |
39825.649 |
38532.498 |
38257.236 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
4230.000 |
2057.800 |
4637.000 |
|
Total
Shareholders’ Funds (1) + (2) |
87520.135 |
81996.984 |
76963.922 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
48887.128 |
44496.696 |
45441.166 |
|
(b) Deferred tax liabilities (Net) |
6562.876 |
5889.404 |
5939.564 |
|
(c) Other long term
liabilities |
47.153 |
54.348 |
92.811 |
|
(d) long-term
provisions |
3148.869 |
1947.708 |
637.810 |
|
Total Non-current
Liabilities (3) |
58646.026 |
52388.156 |
52111.351 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
109864.313 |
103258.312 |
83441.172 |
|
(b) Trade
payables |
17701.951 |
12506.293 |
13328.291 |
|
(c) Other
current liabilities |
12720.297 |
11905.426 |
8609.756 |
|
(d) Short-term
provisions |
1574.880 |
2093.761 |
2054.365 |
|
Total Current
Liabilities (4) |
141861.441 |
129763.792 |
107433.584 |
|
|
|
|
|
|
TOTAL |
288027.602 |
264148.932 |
236508.857 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
57853.586 |
60194.131 |
64195.504 |
|
(ii)
Intangible Assets |
3.789 |
4.173 |
2.266 |
|
(iii) Capital
work-in-progress |
54388.905 |
45868.849 |
35166.751 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11402.951 |
8519.193 |
3530.184 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2877.710 |
5484.182 |
4757.708 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
126526.941 |
120070.528 |
107652.413 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
8735.804 |
5564.914 |
5181.058 |
|
(c) Trade
receivables |
136198.941 |
129736.752 |
116919.140 |
|
(d) Cash
and cash equivalents |
10271.596 |
3096.204 |
2552.551 |
|
(e) Short-term
loans and advances |
6159.973 |
5537.328 |
4087.132 |
|
(f) Other
current assets |
134.347 |
143.206 |
116.563 |
|
Total
Current Assets |
161500.661 |
144078.404 |
128856.444 |
|
|
|
|
|
|
TOTAL |
288027.602 |
264148.932 |
236508.857 |
PROFIT
& LOSS ACCOUNT STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
79967.322 |
66504.635 |
65486.043 |
|
|
Other Income |
11130.155 |
11336.140 |
10439.301 |
|
|
TOTAL |
91097.477 |
77840.775 |
75925.344 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
52325.337 |
47662.530 |
46224.086 |
|
|
Royalty |
300.061 |
539.702 |
533.271 |
|
|
Maintained and repair
Expenses |
3030.218 |
2437.038 |
2149.018 |
|
|
Prior Period Items |
1512.707 |
740.003 |
(208.606) |
|
|
Extraordinary Items |
32.227 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
9005.752 |
8112.399 |
6979.938 |
|
|
Other expenses |
4517.625 |
877.900 |
909.888 |
|
|
TOTAL |
70723.927 |
60369.572 |
56587.595 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
20373.550 |
17471.203 |
19337.749 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
13049.157 |
11649.169 |
11106.331 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7324.393 |
5822.034 |
8231.418 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4552.205 |
4690.210 |
5691.413 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2772.188 |
1131.824 |
2540.005 |
|
|
|
|
|
|
|
Less |
TAX |
955.909 |
358.200 |
(355.676) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1816.279 |
773.624 |
2895.681 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
|
|
|
Basic |
42.01 |
19.80 |
89.00 |
|
|
|
Diluted |
39.82 |
19.59 |
86.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
5267.177 |
6023.720 |
5321.285 |
|
Cash generated from operations |
21064.653 |
6684.690 |
1467.030 |
|
Net cash flows from (used in) operating activity |
19114.110 |
5452.511 |
1307.765 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
621.66 |
712.04 |
651.67 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.59 |
0.51 |
0.56 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
123.48 |
95.77 |
105.24 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.33 |
3.14 |
3.73 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.18 |
0.16 |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.68 |
0.68 |
0.67 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.87 |
1.88 |
1.74 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.62 |
1.58 |
1.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.28 |
1.29 |
1.29 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.56 |
1.50 |
1.74 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.27 |
1.16 |
4.42 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.63 |
0.29 |
1.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
2.08 |
0.94 |
3.76 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.14 |
1.11 |
1.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.08 |
1.07 |
1.15 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.30 |
0.31 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.77 |
3.71 |
3.94 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.14 |
1.11 |
1.20 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
34069.686 |
41406.686 |
43464.486 |
|
Reserves & Surplus |
38257.236 |
38532.498 |
39825.649 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
4637.000 |
2057.800 |
4230.000 |
|
Net
worth |
76963.922 |
81996.984 |
87520.135 |
|
|
|
|
|
|
long-term borrowings |
45441.166 |
44496.696 |
48887.128 |
|
Short term borrowings |
83441.172 |
103258.312 |
109864.313 |
|
Current maturities of
long-term debts |
5321.285 |
6023.720 |
5267.177 |
|
Total
borrowings |
134203.623 |
153778.728 |
164018.618 |
|
Debt/Equity
ratio |
1.744 |
1.875 |
1.874 |
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 |
65486.043 |
66504.635 |
79967.322 |
|
|
|
1.555 |
20.243 |
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 |
65486.043 |
66504.635 |
79967.322 |
|
Profit |
2895.681 |
773.624 |
1816.279 |
|
|
4.42% |
1.16% |
2.27% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
43464.486 |
41406.686 |
|
(b) Reserves & Surplus |
39850.794 |
38557.643 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application money pending
allotment |
4230.000 |
2057.800 |
|
Total
Shareholders’ Funds (1) + (2) |
87545.280 |
82022.129 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
93172.918 |
86932.207 |
|
(b) Deferred tax liabilities (Net) |
6562.876 |
5889.404 |
|
(c) Other long term
liabilities |
247.141 |
254.337 |
|
(d) long-term
provisions |
3155.870 |
1961.901 |
|
Total Non-current
Liabilities (3) |
103138.805 |
95037.849 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short
term borrowings |
109864.313 |
103258.312 |
|
(b) Trade
payables |
17701.951 |
12506.293 |
|
(c) Other
current liabilities |
13237.081 |
12909.918 |
|
(d) Short-term
provisions |
1769.651 |
2730.429 |
|
Total Current
Liabilities (4) |
142572.996 |
131404.952 |
|
|
|
|
|
TOTAL |
333257.081 |
308464.930 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current
assets |
|
|
|
(a) Fixed
Assets |
|
|
|
(i)
Tangible assets |
58720.432 |
60977.314 |
|
(ii)
Intangible Assets |
3.789 |
4.193 |
|
(iii)
Capital work-in-progress |
109427.702 |
98979.872 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
38.326 |
38.145 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3456.564 |
4377.833 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
|
Total Non-Current
Assets |
171646.813 |
164377.357 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a)
Current investments |
0.000 |
0.000 |
|
(b)
Inventories |
8839.645 |
5564.914 |
|
(c) Trade
receivables |
136199.108 |
129736.752 |
|
(d) Cash
and cash equivalents |
10272.698 |
3096.777 |
|
(e) Short-term
loans and advances |
6159.973 |
5537.328 |
|
(f) Other
current assets |
138.844 |
151.802 |
|
Total
Current Assets |
161610.268 |
144087.573 |
|
|
|
|
|
TOTAL |
333257.081 |
308464.930 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
Income |
79967.322 |
66504.635 |
|
|
Other Income |
11131.078 |
11336.143 |
|
|
TOTAL |
91098.400 |
77840.778 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
52325.337 |
47662.530 |
|
|
Royalty |
300.061 |
539.702 |
|
|
Maintained and repair
Expenses |
3031.417 |
2438.107 |
|
|
Prior Period Items |
1512.647 |
740.600 |
|
|
Extraordinary Items |
32.227 |
0.000 |
|
|
Employees benefits
expense |
9010.039 |
8116.250 |
|
|
Other expenses |
4512.398 |
871.601 |
|
|
TOTAL |
70724.126 |
60368.790 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
20374.274 |
17471.988 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
13049.157 |
11649.170 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7325.117 |
5822.818 |
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4552.929 |
4690.994 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2772.188 |
1131.824 |
|
|
|
|
|
|
Less |
TAX |
955.909 |
358.200 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1816.279 |
773.624 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
Basic |
42.01 |
19.92 |
|
|
|
Diluted |
39.82 |
19.71 |
LEGALS
FILE
CASE
PENDING:
|
High
Court of Karnataka -Bengaluru Bench |
CMP 361/2017 |
|||||||
|
BHARAT HEAVY ELECTRICALS LIMITED |
Respondent/Defnt.
Name |
KARNATAKA POWER CORPORATION LIMITED |
||||||
|
Petnr./Appnt.
Advocate |
T N VISWANATHA |
Respnt./Defnt.
Advocate |
||||||
|
Date
Filed |
15/12/2017 |
Classification |
District |
Out Of State |
||||
|
Stage |
PENDING FOR ADMISSON |
Last Posted For |
||||||
|
Last Action Taken |
Last
Date of Action: Next Hearing Date |
|||||||
|
Latest
Order |
||||||||
|
Before
Hon'ble Judge/s |
||||||||
CASE PENDING:
|
High Court of
Karnataka -Bengaluru Bench |
WP 56712/2017 |
||||||||
|
KARAM CHAND
THAPAR & BROS |
Respondent/Defnt.
Name |
KARNATAKA
POWER CORPORATION LIMITED |
|||||||
|
Petnr./Appnt.
Advocate |
NAGA PRASANNA
M |
Respnt./Defnt.
Advocate |
|||||||
|
Date Filed |
15/12/2017 |
Classification |
S(RES) |
District |
Out Of State |
||||
|
Stage |
PENDING FOR
ADMISSON |
Last Posted
For |
|||||||
|
Last Action
Taken |
Last Date of
Action |
Next Hearing
Date |
|||||||
|
Latest Order |
|||||||||
|
Before
Hon'ble Judge/s |
|||||||||
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
No |
|
26 |
Turnover of firm for last two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PROFIT BEFORE TAX:
Profit before tax during the year is INR 2772.188 million as against INR 1131.825 million during the previous year.
TURNOVER
Turnover during the year was INR 79967.322 million as against INR 66504.635 million during the previous year, due to increase in energy sales in Thermal Stations.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from Banks |
3.220 |
12.972 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from Banks |
93510.000 |
88910.000 |
|
Total |
93513.220 |
88922.972 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G44615037 |
100097052 |
SBICAP TRUSTEE COMPANY LIMITED |
20/01/2017 |
17/04/2017 |
- |
225000000.0 |
202, MAKER TOWER, 'E'CUFFE PARADE, COLABAMUMBAI |
|
2 |
G33927617 |
100073416 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
12/01/2017 |
- |
- |
12569500000.0 |
CORE 4SCOPE COMPLEX7 LODI ROADNEW DELHIDe110003IN |
|
3 |
C45706025 |
10553256 |
State Bank of India |
06/03/2015 |
- |
- |
3765000000.0 |
Industrial Finance Branch, Residency Plaza61, Residency RoadBangaloreKA560025IN |
|
4 |
G03994894 |
10553278 |
PFC GREEN ENERGY LIMITED |
06/01/2015 |
27/04/2016 |
- |
505300000.0 |
URJANIDHI, 1 BARAKHAMBA LANE,CONNAUGHT PLACENEW DELHIDe110001IN |
|
5 |
B84532779 |
10435047 |
Canara Bank |
17/06/2013 |
28/08/2013 |
- |
20000000000.0 |
PRIME CORPORATE BRANCH, SHANKARANARAYANA BLDG.NO.25, M G ROADBANGALOREKA560001IN |
|
6 |
B67978114 |
10402716 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
23/01/2013 |
- |
- |
37490000000.0 |
CORE 4SCOPE COMPLEX7 LODI ROADNEW DELHIDL110003IN |
|
7 |
B67291799 |
10401133 |
Vijaya Bank |
24/12/2012 |
- |
- |
520000000.0 |
Race Course RoadBangaloreKA560001IN |
|
8 |
C59470542 |
10277325 |
State Bank of India |
11/03/2011 |
31/03/2015 |
- |
19500000000.0 |
Industrial Finance Branch, Residency Plaza61, Residency Road,BangaloreKA560025IN |
|
9 |
A93597441 |
10239257 |
Karnataka Bank Ltd. |
10/08/2010 |
- |
- |
1500000000.0 |
SubhashnagarBangaloreKA560023IN |
|
10 |
A71357776 |
10181058 |
CANARA BANK |
26/09/2009 |
- |
- |
18090000000.0 |
PRIME CORPORATE BRANCH, NO. 25,SHANKARNARAYANA BUILDING, |
|
11 |
A67188615 |
10170521 |
CANARA BANK |
20/07/2009 |
- |
- |
8370000000.0 |
PRIME CORPORATE BRANCH, NO. 25,SHANKARNARAYANA BUILDING, M G ROAD,BANGALOREKA560001IN |
|
12 |
A09972985 |
10042721 |
SYNDICATE BANK |
12/01/2007 |
- |
- |
2320000000.0 |
GANDHINAGAR BRANCH2ND CROSS, GANDHINAGARBANGALOREKA560009IN |
|
13 |
A00720961 |
10003568 |
State Bank of India |
17/03/2006 |
- |
- |
2940000000.0 |
IFB RoadBangaloreKA560025IN |
FIXED ASSETS
Tangible Asset
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Railway
Siding
- Computer
Accessories
Intangible Assets
- Computer
Software
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 63.48 |
|
|
1 |
INR 86.41 |
|
Euro |
1 |
INR 76.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
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.