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|
MIRA INFORM REPORT
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Report No. : |
488722 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TATA PROJECTS LIMITED |
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|
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Registered
Office : |
“Mithona Towers-1, 1-7-80 to 87, Prenderghast Road, Secunderabad -
500003, Telangana |
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Tel. No.: |
91-40-66238801 / 66238406 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.02.1979 |
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Com. Reg. No.: |
36-057431 |
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Capital
Investment / Paid-up Capital : |
INR 202.500 Million |
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CIN No.: [Company Identification
No.] |
U45203TG1979PLC057431 |
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IEC No.: |
0388223758 |
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TIN No.: |
19895705018/ 33251022528 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT01767D |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACT4119L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Subject is in the business of executing Engineering, Procurement and Construction (EPC) contracts in various infrastructure fields, comprising power generation, transmission, distribution and related ancillary services including manufacturing activity, telecommunications, civil construction and other allied engineering and quality services. (Registered activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Maximum Credit Limit : |
USD 29000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “TATA Group”. It is a well-established company incorporated in the year 1979. It is engaged in providing turnkey solutions to set up power generation plants.
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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
|
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 |
CRISIL |
|
Rating |
Long Term Borrowing = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
31.10.2017 |
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 30.01.2018
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.:
91-40-66238801
LOCATIONS
|
Registered Office / Factory: |
“Mithona Towers-1, 1-7-80 to 87, Prenderghast Road, Secunderabad -
500003, Telangana, India |
|
Tel. No.: |
91-40-66238801 / 66238406 |
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Fax No.: |
91-40-66172535 |
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E-Mail : |
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Website : |
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Tower Manufacturing Unit : |
Located at Umred, Nagpur, Maharashtra, India |
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Corporate Office: |
Bombay House, 24 Homi Mody Street, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-4949112 |
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Regional Office : |
Ground Floor, Tower-B, Green Boulvard, Plot No. B9A, Sector-62, Noida
– 201301, Uttar Pradesh, India |
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Project Office: |
C/o., FRFCF Gate, KAlpakkam, Kanchipuram – 603102, Tamilnadu, India |
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Mob. No.: |
91-7752027048 (Mr. Suraj Kumar) |
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Branch Offices : |
Located At:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vinayak Kashinath Deshpande |
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Designation : |
Managing Director |
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Address : |
Apartment No. F-06, 8-2-696/697, LA Creative Heights, Road
No.12, Banjara Hills, Hyderabad – 500034, Telangana, India |
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Date of Birth/Age : |
21.07.1957 |
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Qualification: |
Chemical Engineer- IIT, Kharagpur |
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Date of Appointment : |
01.07.2011 |
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PAN No: |
AAUPD5917B |
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DIN No.: |
00036827 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Sowmyan Ramakrishanan |
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Designation : |
Director |
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Address : |
D-9, Income Tax Officer Colony, Pedddar Road, Mumbai – 400026,
Maharashtra India |
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Date of Birth/Age : |
19.02.1949 |
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Qualification: |
B Tech degree in Mechanical Engineering, Post
Graduate Diploma in Business Administration |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
00005090 |
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PAN No: |
AADPR1772K |
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Other Directorship:
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Name : |
Mr. Padmanabh Sinha |
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Designation : |
Director |
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Address : |
1206, The Imperial, North Tower, M P Mills Compound, Tardeo, Mumbai-400034, Maharashtra, India |
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Date of Birth/Age : |
21.02.1971 |
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Qualification: |
BE (Hons.) degree in Computer Science from BITS, Pilani and is also an MBA from IIMC |
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Date of Appointment : |
03.08.2015 |
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DIN No.: |
00101379 |
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PAN No: |
AAYPS0694J |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Samirkumar Barua |
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Designation : |
Director |
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Address : |
B-203, Samay Apartment, B/H Azad Society, Telephone Exchange, Near Bima Nagar, Near. IIM, Amba Wadi, Ahmedabad – 380015, Gujarat, India |
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Date of Birth/Age : |
23.09.1951 |
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Qualification: |
Master's degree in Technology |
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Date of Appointment : |
03.08.2015 |
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DIN No.: |
00211077 |
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PAN No: |
AALPB2005R |
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Other Directorship:
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Name : |
Ms. Neera Saggi |
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Designation : |
Director |
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Address : |
Flat No.1002, Atlantis Building, Raheja Acropolis-I CHSL, Deonarpada Road, Deonar Village, Chembur, Mumbai-400088, Maharashtra, India |
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Date of Birth/Age : |
13.03.1956 |
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Qualification: |
MBA from International Centre of Public Enterprise, and a Masters Degree in English Literature |
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Date of Appointment : |
03.08.2015 |
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DIN No.: |
00501029 |
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PAN No: |
AIQPS6806E |
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Other Directorship:
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Name : |
Mr. Pradeep Nilkant Dhume |
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Designation : |
Director |
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Address : |
12, Ashwamedh, 107, Shivaji Park Road No.3, Dadar (West), Mumbai - 400028, Maharashtra, India |
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Date of Birth/Age : |
01.09.1948 |
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Qualification: |
BE (Elec) DBM PGDIM MFM |
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Date of Appointment : |
03.04.2002 |
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DIN No.: |
00916804 |
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Other Directorship:
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Name : |
Mr. Arabinda Guha |
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Designation : |
Wholetime Director |
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Address : |
GH4-4B, Gurgaon One Sector-22, Gurugram – 122001, Haryana,
India |
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Date of Appointment : |
23.06.2017 |
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DIN No.: |
05198785 |
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Name : |
Mr. Rajit Harshik Desai |
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Designation : |
Director |
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Address : |
Sonawala Building No. 8/F, 80-81, 3rd Floor, Tardeo, Mumbai – 400007, Maharashtra, India |
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Date of Birth/Age : |
21.09.1963 |
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Date of Appointment : |
28.06.2016 |
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Qualification: |
Bachelor of Engineering (Chemical) Bangalore University, 1985 and MBA in Finance from Poona University, 1988 |
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DIN No.: |
06824201 |
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PAN No: |
AAAPD3615Q |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Parashuram Ganesh Date |
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Designation : |
Director |
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Address : |
Flat No.7 Sankul High Rise, 58+13/1/1 Near Dinanath Hospital Erandwana, Pune-411004, Maharashtra, India |
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Date of Birth/Age : |
14.04.1956 |
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Qualification: |
Accountant degree (Tax Planning, Management Audit and MIS), a Graduate degree in Cost Accountancy and a Diploma ( System Development & Computer Programming) |
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Date of Appointment : |
03.08.2015 |
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DIN No.: |
07133661 |
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PAN No: |
ABDPD7267N |
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KEY EXECUTIVES
|
Name : |
Mr. Anil Khandelwal |
|
Designation : |
Chief Finance Officer |
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Address : |
Flat 1001 Era IV, Marathan Nextgen, G K Marg, Lower Parel, Mumbai – 400013, India |
|
Date of Appointment : |
17.11.2015 |
|
PAN No: |
AGJPK1554G |
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|
|
|
Name : |
Mr. Amirisetty Raja Mogili |
|
Designation : |
Company Secretary |
|
Address : |
12-13-691/4, Nagarjuna Nagar, Taranaka, Secunderabad –
500017, Telangana,
India |
|
Date of Appointment : |
22.11.2007 |
|
PAN No: |
AAXPA5498B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Tata Sons Limited |
135000 |
6.67 |
|
The Tata Power Company Limited, India |
967500 |
47.78 |
|
Tata Chemicals Limited |
193500 |
9.56 |
|
Voltas Limited |
135000 |
6.67 |
|
Tata Industries Limited |
60750 |
3.00 |
|
Tata Chemicals Limited |
44810 |
2.21 |
|
Omega TC Holding Pte Limited, Singapore |
488440 |
24.12 |
|
Total |
2025000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 23.06.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is in the business of executing Engineering, Procurement and Construction (EPC) contracts in various infrastructure fields, comprising power generation, transmission, distribution and related ancillary services including manufacturing activity, telecommunications, civil construction and other allied engineering and quality services. (Registered activity) |
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Products : |
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||||||
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||||||
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Brand Names : |
Not Divulged |
||||||
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
||||||
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Imports : |
Not Divulged |
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||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
1-8-384 and 385 3rd Floor |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
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Secretary Audit : |
|
|
Name : |
Venkata Syamala Adiraju Chartered Accountants |
|
Address : |
Sri Dattasai Commercial Complex, 21-7-1074/B/102, Block-A, Flat No. 102, Opposite Saptagiri Theatre, RTC ‘X’ Roads, Hyderabad – 500020, Telangana, India |
|
|
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Memberships : |
Not Available |
|
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|
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Collaborators : |
Not Available |
|
|
|
|
Joint venture : |
U74140DL2008PLC180897
U45200TG2005PLC047812
|
|
|
|
|
Subsidiary company
: |
L27290MH1978PLC020644
U45200TG2013PLC088608
U74220TG2003PTC040523
|
|
|
|
|
Associate : |
U18100MH1993PTC072992 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
L28920MH1919PLC000567
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 100/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2025000 |
Equity Shares |
INR 100/- each |
INR 202.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
202.500 |
202.500 |
202.500 |
|
(b) Reserves and Surplus |
10061.076 |
9111.337 |
8488.360 |
|
(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) |
10263.576 |
9313.837 |
8690.860 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.388 |
1.579 |
2.606 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
296.125 |
240.653 |
207.093 |
|
Total Non-current
Liabilities (3) |
297.513 |
242.232 |
209.699 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
4991.140 |
5759.788 |
4745.976 |
|
(b) Trade
payables |
31979.396 |
26711.225 |
23438.818 |
|
(c) Other
current liabilities |
19974.087 |
11435.656 |
10821.746 |
|
(d) Short-term
provisions |
55.128 |
50.767 |
174.197 |
|
Total Current
Liabilities (4) |
56999.751 |
43957.436 |
39180.737 |
|
|
|
|
|
|
TOTAL |
67560.840 |
53513.505 |
48081.296 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2530.440 |
2204.697 |
2074.402 |
|
(ii)
Intangible Assets |
37.036 |
94.600 |
95.830 |
|
(iii) Tangible assets
capital work-in-progress |
23.776 |
60.722 |
43.424 |
|
(iv)
Intangible assets under development |
44.597 |
42.970 |
0.000 |
|
(b) Non-current Investments |
567.184 |
99.398 |
96.242 |
|
(c) Deferred tax assets (net) |
734.495 |
631.315 |
594.127 |
|
(d)
Long-term loans and advances |
209.766 |
0.000 |
813.237 |
|
(e) Other
Non-current assets |
2124.486 |
2028.028 |
378.399 |
|
Total Non-Current
Assets |
6271.780 |
5161.730 |
4095.661 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
12223.259 |
7434.055 |
6679.136 |
|
(c) Trade
receivables |
33098.632 |
26181.122 |
24107.411 |
|
(d) Cash and
bank balances |
2861.432 |
1633.580 |
1987.608 |
|
(e)
Short-term loans and advances |
1593.229 |
9090.158 |
8415.872 |
|
(f) Other current
assets |
11512.508 |
4012.860 |
2795.608 |
|
Total
Current Assets |
61289.060 |
48351.775 |
43985.635 |
|
|
|
|
|
|
TOTAL |
67560.840 |
53513.505 |
48081.296 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
60238.763 |
43860.888 |
33424.497 |
|
|
Other Income |
297.328 |
313.268 |
219.923 |
|
|
TOTAL |
60536.091 |
44174.156 |
33644.420 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
51053.107 |
34151.367 |
28608.671 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(4865.501) |
(709.042) |
(2247.396) |
|
|
Employee benefit expense |
4341.715 |
3550.398 |
3029.358 |
|
|
Other expenses |
5999.278 |
4281.716 |
1711.100 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
(403.085) |
|
|
TOTAL |
56528.599 |
41274.439 |
30698.648 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4007.492 |
2899.717 |
2945.772 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1242.378 |
945.311 |
716.158 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2765.114 |
1954.406 |
2229.614 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
937.974 |
836.748 |
794.165 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1827.140 |
1117.658 |
1435.449 |
|
|
|
|
|
|
|
Less |
TAX |
715.526 |
492.784 |
498.485 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1111.614 |
624.874 |
936.964 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
548.95 |
308.58 |
462.70 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.685 |
0.831 |
|
Net cash flows from (used in) operations |
7044.068 |
674.484 |
(286.283) |
|
Net cash flows from (used in) operating activities |
5954.363 |
(244.858) |
(767.929) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
200.55 |
217.87 |
263.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
1.82 |
1.68 |
1.39 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
228.63 |
285.48 |
299.04 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.33 |
0.39 |
0.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.52 |
1.21 |
1.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.84 |
0.82 |
0.81 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.49 |
0.62 |
0.55 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
5.55 |
4.72 |
4.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.26 |
0.26 |
0.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.23 |
3.07 |
4.11 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.85 |
1.42 |
2.80 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.65 |
1.17 |
1.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
10.83 |
6.71 |
10.78 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.08 |
1.10 |
1.12 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.86 |
0.93 |
0.95 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.15 |
0.17 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
24.65 |
28.45 |
23.45 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.08 |
1.10 |
1.12 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
202.500 |
202.500 |
202.500 |
|
Reserves & Surplus |
8488.360 |
9111.337 |
10061.076 |
|
Net
worth |
8690.860 |
9313.837 |
10263.576 |
|
|
|
|
|
|
Long-term borrowings |
2.606 |
1.579 |
1.388 |
|
Short term borrowings |
4745.976 |
5759.788 |
4991.140 |
|
Current maturities of
long-term debts |
0.831 |
0.685 |
0.000 |
|
Total
borrowings |
4749.413 |
5762.052 |
4992.528 |
|
Debt/Equity
ratio |
0.546 |
0.619 |
0.486 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
33424.497 |
43860.888 |
60238.763 |
|
|
0.000 |
31.224 |
37.341 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
33424.497 |
43860.888 |
60238.763 |
|
Profit/ (Loss) |
936.964 |
624.874 |
1111.614 |
|
|
2.80
% |
1.42
% |
1.85
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
NOTE: The Registered Office of the company has been shifted from "Mithona
Towers-1", 1-7-80 to 87 Opposite Wesley CO-ED JR. College, Prender Ghast
Road, Secunderabad – 500003, Andhra Pradesh, India to the present address w.e.f
25.04.2012
OPERATIONAL
PERFORMANCE
Total income of the Company aggregated to INR 60540.000 Million as compared to INR 44170.000 Million of previous year. The Quality Services revenue during the year was INR 1680.000 Million (Previous Year: INR 1470.000 Million). The operating profit of the Company was INR 4010.000 Million (Previous Year: INR 2900.000 Million) resulting in a Profit Before Tax (PBT) of INR 1830.000 Million (Previous Year: INR 1120.000 Million). The PBT for current year recorded a growth of about 63% over last year. During the year, Order Booking of the Company aggregated to INR 202690.000 Million (Previous Year: INR 96690.000 Million) resulting in the total order backlog of INR 292100.000 Million. Secured L1 position of orders is worth INR 33680.000 Million.
OPERATIONS OVERVIEW
The Company is executing Balance of Plant EPC at Krishnapatnam 1 x 800 MW Thermal Power Project Stage-2, for Andhra Pradesh Power Development Corporation Limited (APPDCL) and for 2 x 800 MW Thermal Power Project for National Thermal Power Corporation Limited, (NTPC), Ramagundam, Telangana State.
Execution of Eastern Dedicated Freight Corridor (EDFC) Project (total 351 km), is delayed on account of non-availability of work fronts due to right-of-way / right-of-use. The Company has deployed automated track laying machines (being used for the first time in India) and work is progressing on available front.
The Company has made inroads in international markets like Ethiopia, South Africa, Thailand, Ivory Coast and Nepal this year in Transmission and Distribution projects.
Execution of “Dravyavathi River Rejuvenation” project at Jaipur has picked up pace. This project spreads across 47 kms in length, involves canal alignment, canal and embankment pitching, paving, landscaping, gardening, green corridors, pathway and sit-outs, roads with LED Street Lighting and construction of 170 Million Litres per Day (MLD) Sewage Treatment Plant (STP) and Operations and Maintenance (O and M) of the facilities for 10 years.
Mumbai Metro Line 3 UGC04 project of Mumbai Metro Rail Corporation Limited (MMRC) saw completion of piling for Tunnel Boring Machine launch. The company is the first to commence the casting of precast segments amongst the seven awarded packages. The team of Lucknow Metro project (developed by Lucknow Metro Rail Corporation Limited) achieved setting up of casting yard and casting of first pre-cast concrete segment ahead of schedule. Two Tunnel Boring Machines for underground tunneling were launched before schedule.
The Dilshad Nagar to New Busadda (Ghaziabad) CC87 project of Delhi Metro Rail Corporation Limited (DMRC) witnessed near completion of viaduct section and partial handover of the same to client. The project team received appreciation for casting and erection of heavy pre – cast portal beams weighing upto 250 tonnes.
The year witnessed revival of Tata Centre Gurgaon project by Tata Realty and Infrastructure Limited (TRIL). The project was initially awarded during the year 2014 but was put on hold due to increase in Floor Space Index (FSI) and subsequent changes in design leading to increase in scope of work. The Company is implementing this project in Joint Venture (JV) with Brookfield Multiplex.
Quality Services innovative service offerings, leveraging digital platforms in new sectors, are witnessing good acquisition of new customers and are positioned to continue its double digit revenue growth. In the global markets, the Company has strengthened presence in Oman and China while targeting specific strategic customer set and service offerings. During the year the business was involved in developing technologically advanced Internet of Things (IoT) enabled Water treatment plants and also continued its joint research project to develop solar powered desalination plants in collaboration with Massachusetts Institute of Technology (MIT).
Major Contracts
awarded / L1 position during the year
Secured two thermal power generation projects for Balance of Plant (BoP) works 1x800 MW, Super Critical Thermal Power Plant (Stage-2 of APPDCL, located at Krishnapatnam) at a contract value of INR 26600.000 Million; and 2x800 MW Super Thermal Power Plant (Phase-I of NTPC located at Ramagundam) at a contract value of INR 20550.000 Million.
Secured L1 position in ISRO’s propulsion complex Mahendragiri for EPC of Integrated Cryogenic Engine and Stage Test Facility (ICET) in Joint Venture with Cryogenmash for a total value of INR 7500.000 Million.
International breakthrough achieved by securing 400 kV and 230 kV Transmission Line (TL) in Ethiopia at a contract value of INR 9240.000 Million and in Nepal for Transmission Line and Substation at a contract value of INR 3000.000 Million.
Company secured two packages from Eastern Dedicated Freight Corridor Corporation of India Limited (EDFCCIL) in Joint Venture with GMR Infrastructure Limited (GIL) for a total value of INR 22800.000 Million (The company’s share is INR 11400.000 Million) for construction of 175 kms of single track system package and 46 kms of twin track system package. Also one package from Western Dedicated Freight Corridor Corporation of India Limited (WDFCCIL) in Joint Venture with Ircon International Limited and MITSUI and Co., Limited. for a total value of INR 29490.000 Million for construction of 102 kms of twin track system.
Secured order for construction of Medical College from All India Institute of Medical Sciences (AIIMS) for value of INR 4000.000 Million; Integral Coach Factory (ICF) (including maintenance) at Chennai for value of INR 2930.000 Million and Sewage Network with STP from Rajasthan Urban Drinking Water Sewerage and Infrastructure Corporation Limited (RUDSICO) for value of INR 3520.000 Million.
Secured three more metro projects Viz., (i)from Lucknow Metro Rail Corporation Limited (LMRC) in Joint Venture with Gulermak for a value of INR 11900.000 Million (The company’s share is INR 8830.000 Million) for construction of 3.6 kms of twin tunnels with three underground stations; (ii) from Mumbai Metro Rail Corporation Limited (MMRC) in Joint Venture with ITD Cementation and Continental Engineering Construction at a value of INR 28300.000 Million (The company’s share is INR 5660.000 Million) for construction of 10.5 kms of twin tunnel, with three underground stations; and (iii) from Metro-Link Express for Gandhinagar and Ahmedabad Company Limited (MEGA) for Ahmedabad Metro, in Joint Venture with China Civil Engineering Construction Corporation (CCECC) for a value of INR 7210.000 Million (The company’s share is INR 3530.000 Million). With this Ahmedabad Metro, the Company marked entry into elevated Segmental Metro Construction.
Entered Smart Cities market by securing Smart Lighting project from Pune Municipal Corporation for INR 3250.000 Million. Awarded one of the biggest township projects by Hiranandani Developers for Hiranandani Fortune City Sector C, Panvel.
Secured order for six laning of Chittorgarh - Udaipur section for 93 km in Rajasthan under National Highway Development Project (NHDP) Phase V (Package III) on EPC mode for INR 941 Million (The Company’s share is INR696 Million) in Joint Venture with H.G. Infra Engineering Private Limited.
Awarded the state-of-the-art ‘Trade-cum-Craft Museum’ located at Varanasi at a project value of INR 2130.000 Million.
FUTURE OUTLOOK
Industrial environment is moving towards emission control. There is also growing need for rehabilitation and up-gradation of plants for efficiency and capacity improvement. The Company’s EPC Cluster is up-scaling capabilities to capture these changing needs of the customer.
With growth in Steel and Power sector being sluggish, focus is shifting to productivity improvement, debottlenecking, renovation and modernization. These projects are related to revenue expenditure, and provide good opportunity to the Company to leverage its domain expertise to cater to such requirements. This year the Company has successfully completed revamp of two blast furnace units and made inroads into non-ferrous business.
With oil prices continue to remain low, Capex plans continue to be deferred in the Oil and Gas Sector presently limiting opportunities. The Company is, therefore, evaluating other avenues like opportunities with ISRO, new business segments like Coal Bed Methane and oil asset up-gradation projects. Further, requirement to comply with Bharat Stage VI emission standards, Ethanol Blending program and refinery expansions during the next 2 to 3 years may lead to a growth in the Oil and Gas Business.
The company will continue to consolidate on growing opportunities in the area of Transmission and Distribution business in the Middle East, South-East Asia and Africa.
With 45% share in the Dedicated Freight Corridor segment, the Company will focus on its delivery and simultaneously get into high technology segments like signalling and telecommunication. The track laying projects continue to face delays because of land acquisition and other issues posing commercial risk to some of these projects.
Improving overall economic scenario and increase in planned capital expenditure for urban development through various Government policies, would allow capital inflow in segments of building construction and urban transport. Major developments are envisaged in urban metro rail, roads and bridges along with smart city segment. The Company is now well positioned to serve these business opportunities.
FINANCE
The Company is gearing up for the GST roll out. With focussed attention to completion of tax assessments, the Company was able to liquidate 65 Millions of old outstanding tax dues.
The transition from Indian Generally Accepted Accounting Principles (IGAAP) to IndAS has been successfully completed.
The Company optimized funding through improved rating by Credit agencies and also increased utilization of commercial paper as a means to fund working capital. The overall working capital cost has been reduced by 100 basis points over financial year 2015-16.
Likewise cost of Non-fund limits have been reduced by 20% over last year.
AWARDS AND ACCOLADES
The Company received
the following Awards during the year
“Best Infrastructure Brands” by The Economic Times.
”India's 3rd Fastest Growing Infrastructure Company” by Construction World.
”Outstanding Contribution in Power Transmission and Distribution” by EPC World.
“Outstanding Contribution in Industrial Infrastructure Project” by EPC World.
“Extraordinary Work in Smart Energy” by Business World.
"Best Project in Transmission Line Execution" by Construction Times.
“Best Safety Conscious Engineering” by Andhra Pradesh Power Generation Corporation Limited.
“Innovation in Execution” for using Helicrane in tower erection at 400 kV Sambha - Amargarh Transmission Line by Sterlite Power Limited.
“Best Safety Performance”, 3 years in a row by Power Grid Corporation of India Limited.
“Best Safety Practice Award” for 765 kV Lalitpur - Agra CKT 1 Transmission Line by Power Grid Corporation of India Limited.
“Best Performance” for Early Completion of 765kV D/C Wardha-Nizamabad Line by Power Grid Corporation of India Limited.
“9th Vishwakarma Award” for Mahindra Luminare Project by Construction Industry Development Council Limited.
“Excellence in Health and Safety” by Construction Industry Development Council.
“Excellence in Sustainability” for Eastern Dedicated Freight Corridor Project by Occupational Safety and Health Association India.
Nominated for “Prime Minister’s Award” for RGGVY Malkangiri Distribution Project by Power Grid Corporation of India Limited.
The Managing Director was awarded “Infrastructure Man of the Year Award 2016” by Construction World and was also awarded INR CEO of the Year’ by Construction Times.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
1.388 |
1.579 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
1500.000 |
1773.271 |
|
Total |
1501.388 |
1774.850 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C42553180 |
10548428 |
State Bank of India |
02/01/2015 |
- |
- |
8500000000.0 |
6-3-1109/1, RAJBHAVAN ROADNAVABHARAT CHAMBERS, SOMAJIGUDAHYDERABADTG500082IN |
|
2 |
C21169578 |
10520609 |
Indian Overseas Bank |
21/07/2014 |
- |
- |
513000000.0 |
1-2-61 & 62,Park laneSecunderabadTG500003IN |
|
3 |
C10055994 |
10507309 |
Indusind Bank Ltd |
25/04/2014 |
- |
- |
2000000000.0 |
100, Laxmi, Saradar Patel RoadBegumpet,SecunderabadAP500003IN |
|
4 |
B95997292 |
10476714 |
Axis Bank Limited |
28/01/2014 |
- |
- |
1090000000.0 |
6-3-879/B GreenlandsBegumpetHyderabadAP500016IN |
|
5 |
B87427332 |
10454727 |
Bank of Baroda |
23/09/2013 |
- |
- |
891900000.0 |
Corporate Financial Services Hyderabad Branch3-6-262/6, Tirumala Estates, 1st Floor, Himayat NaHyderabadAP500029IN |
|
6 |
G07707060 |
80002233 |
State Bank of Hyderabad |
19/07/1993 |
08/07/2016 |
- |
101060000000.0 |
Industrial Finance BranchPunjaguttaHyderabadTG500082IN |
|
7 |
Y10263554 |
90162307 |
EXPORT IMPORT BANK OF INDIA |
12/09/1989 |
- |
- |
50000000.0 |
MAKER CHAMBES IV8TH FLOR; 222; NARIMAN POINTBOMBAYMH400001IN |
|
8 |
Y10262929 |
90161682 |
GRINDLAYS BANK |
05/10/1982 |
24/04/1987 |
- |
1500000.0 |
90 M G ROADBOMBAYMH400023IN |
|
9 |
G05081211 |
10555693 |
State Bank of Hyderabad |
21/02/2015 |
- |
06/06/2016 |
18465800000.0 |
Industrial Finance Branch "Topaz" BuildingAmrutha Hills, PunjaguttaHyderabadTG500082IN |
|
10 |
G04138087 |
10246720 |
Bank of Baroda |
14/10/2010 |
- |
17/05/2016 |
1073000000.0 |
Corporate Financial Services Hyderabad Branch3-6-262/6, Tirumala Estates, 3Flr, HimayatnagarHyderabadAP500029IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claim against the
Company not acknowledged as debt Matters under dispute: |
|
|
|
Sales tax/VAT |
628.949 |
608.721 |
|
Service tax |
2390.813 |
1322.983 |
|
Income tax |
60.997 |
74.669 |
|
Third party claims from disputes relating to contracts |
116.718 |
114.300 |
|
Guarantees: |
|
|
|
Performance and other bank guarantees issued by banks on behalf of the Company |
52927.999 |
43117.692 |
|
Corporate guarantees |
3718.799 |
1265.123 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
Intangible assets
- Goodwill
PRESS RELEASE
TATA PROJECTS-DAEWOO
JT VENTURE WINS INR 5,612 CR MUMBAI TRANS HARBOUR LINK PROJECT
Hyderabad, Dec 4:
Tata Projects Ltd through a joint venture with Daewoo E&C of South Korea has announced that it has secured a $850-million contract (INR 5,612 crore) to design and build a part of India’s longest sea-bridge - Mumbai Trans Harbour Link.
While the Tata joint venture emerged as the lowest bidder for both the sea packages 1 and 2, it was awarded only one of the packages (package 2) as provided in the tender conditions.
The package awarded to Daewoo-Tata Projects joint venture involves construction of a 7.8-km-long bridge section across the Mumbai Bay, including Shivaji Nagar Interchange at Navi Mumbai, at a contract value of INR 5,612 crore ($850 million), which is a complex stretch.
Tata Projects is one of India’s fastest growing construction companies and together with its Korean partner, it will bring new technology and latest construction methods and techniques to deliver this milestone project.
The project will use reverse circulation drill method for foundation and erection of a large block (180m) orthotropic steel deck structure at navigational span. Specialised steel will be imported from Japan for fabrication. Tata Projects adheres to highest quality and safety norms and is geared for on-time delivery of its projects.
Reverse circulation
drilling
Reverse circulation drilling is a method of piling in hard rock strata wherein the machine drills through the rock and the cut material gets mixed with water, which the machine brings back to surface by using pressurised air.
This method is faster and proven to be successful than conventional bored piling method in hard rock. High drilling penetration rates can be achieved using this method as it is quite versatile. It is also an environment friendly technique when compared to conventional methods as it doesn’t use bentonite/polymer.
An orthotropic steel desk structure - comprises structural steel plate and an extended arm. The arm is located at the obligatory span for enabling navigation. This structure is stiffened longitudinally and transversely to allow for bearing various loads. Thus, prefabricated structures can be moved across. The 180m structure planned is among the largest used.
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 63.49 |
|
|
1 |
INR 90.91 |
|
Euro |
1 |
INR 79.06 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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.