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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

499216

Report Date :

21.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SUDHIR POWER LIMITED (w.e.f. 21.02.2015)

 

 

Formerly Known As :

SUDHIR GENSETS LIMITED

 

 

Registered Office:

507, International Trade Tower, Nehru Place, New Delhi – 110019

Tel. No.:

91-1923-221993

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

17.10.1995

 

 

Com. Reg. No.:

55-073261

 

 

Capital Investment / Paid-up Capital :

INR 47.287 Million

 

 

CIN No.:

[Company Identification No.]

U74899DL1995PLC073261

 

 

IEC No.:

[Import-Export Code No.]

0599009918

 

 

GSTN :

[Goods & Service Tax Registration No.]

07AABCS6697K2ZO

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCS6697K

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is mainly engaged in the business of manufacturing and supply of Diesel Generator Sets, Transformers, Panels, Packaged Sub- Stations and associate equipments and its parts. [Registered Activity]

 

 

No. of Employees :

Information denied by the management

 

 

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++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Maximum Credit Limit:

USD 40000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1995 formerly known as Sudhir Gensets Limited, was promoted by Mr. Sudhir Seth. The company is an original  equipment  manufacturer  (OEM)  of  Cummins  and  is  one  of  the  leading  producers  of  DG  sets  in  the range of 7.50 KVA to 3000 KVA and ancillary equipment’s such as control panels and acoustics.

 

The company is managed by the Seth family and has a dominant presence in the northern and north western states of India. SPL has three wholly owned subsidiaries, namely, Sudhir Power Projects Limited (the EPC business), Sudhir Transformers  Limited  (manufactures transformers  of  up  to  20  MVA)  and  Sudhir  Sales  and  Services  Limited (services DG sets).

 

As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 2017 are not available from any sources.

 

For the financial year 2016, the company has increased in the operational performances as compared to previous year and maintained decent profit margin of 11.20%.

 

Rating takes into consideration strong financial profile of the company marked by healthy networth base along with robust capital structure and debt protection metrics.

 

The  rating  takes  into  account  of long experience of the promoters as well as established  position  of  Sudhir  Power  Limited  (SPL)  in  the  diesel generator (DG) industry.  It manufactures DG sets, which are powered by Cummins India Limited’s (Cummins) technology.

 

The  ratings  derive  comfort  from  the  reputed  and  diverse  client  profile  and  the  exclusive  selling rights  from  “Cummins”  in  North  India  (except  UP),  Gujarat  and  Madhya  Pradesh.

 

However, the company's strong market position is supported by its access to the latest technology, diverse product portfolio and cost-competitive operations.

 

Trade relations are fair. Business is active. Payments are seems to be regular and as per commitments.

 

In a view of aforesaid, the company can be considered for business dealings with 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

(30.09.2017)

Current Rating

(31.12.2017)

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

ICRA

Rating

Non Convertible debenture: AA-

Rating Explanation

High degree of safety and very low credit risk.

Date

04.12.2017

 

Rating Agency Name

ICRA

Rating

Short term rating: A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

04.12.2017

 

 

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 21.03.2018

 

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 BY

 

Name :

Mr. Hassan 

Designation :

Not Divulged

Contact No.:

91-8130592028

Date :

20.03.2018

 

Management Non-Cooperative (91-124-4168000)

 

91-11-41608000– CONTINUOUSLY RINGING 

 

LOCATIONS

 

Registered Office :

507, International Trade Tower, Nehru Place, New Delhi – 110019, India

Tel. No.:

91-11-41508000/41608000

Fax No.:

91-11-41608027

E-Mail :

kunnalmalhotra@sudirgensets.com

ramcharan@sudhirpower.com

info@sudhirgensets.com

ashwini@sudhirpower.com

Website:

http://www.sudhirgensets.com

 

 

Head / Corporate Office:

Plot No. 1, Sector 34, E.H.T.P., Gurugram – 122001, Haryana, India

Tel. No.:

91-124-4168000

Fax No.:

91-124-4168010

 

 

Factory 1 :

Athal Unit: Plot No. 8, 9 &10, Survey No.144/1/2/1/2 &144/1/2/1/3 &144/1/2/10, Athal Industrial Estate, Village-Athal, Silvassa-396230, Dadra and Nagar U.T., India

Tel. No.:

91-260-3291420/21

Fax No.:

91-260-2632176

E-Mail :

info@sudhirpower.com

 

 

Factory 2 :

18 Road, Phase -II, Sidco Industrial Complex, Bari Brahmana, Dist;- Samba - 181133, Jammu and Kashmir -181133, India.

Tel. No.:

91-1923-221993

Fax No.:

91-1923 -221845

 

 

Factory 3 :

Epip Katholi, Baribrahmna Industrial Area, District Samba – 181133, Jammu and Kashmir -181133, India

 

 

Factory 4 :

Plot 92, Sector 8, IMT Manesar, Gurugram– 122052, Haryana, India

Tel. No.:

91-124-4869400

 

 

Factory 5 :

Plot No 8,9,10 Athal Industrial estate Village Athal, Silvassa -396230, Dadra and Nagar Haveli, India

Tel. No.:

91- 260-3291420/21

Fax No.:

91- 260-2632176

 

 

International Offices:

Located at

 

Dubai

 

 

Branch Offices:

Located at:

 

·         Mumbai

·         Bangalore

·         Jaipur

·         Indore

·         Ahmedabad

·         Chandigarh

·         Jammu

·         Sri Nagar

·         Ludhiana

·         Surat

·         Ludhiana SSSL

·         Bopal SSL

·         Udaipur

·         Jodhpur

·         Amritsar

·         Alwar

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Rahul Seth

Designation :

Managing Director

Address :

14 Chinar Drive, DLF Chattarpur Farms, New Delhi – 110074, India

Date of Birth/Age :

28.10.1977

Date of Appointment :

01.10.2007

PAN No.:

AASPS9459B

DIN No. :

00281028

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U85110DL1993PLC308149

SUDHIR TRANSFORMERS LIMITED

20/09/2008

-

U74899DL1989PTC035027

PERFECT COMMERCIAL PRIVATE LIMITED

29/09/2014

-

U34103DL2004PTC128817

ALIVE AUTOMOTIVES PRIVATE LIMITED

25/09/2014

-

U72200DL2005PTC136020

MASTER INFRASTRUCTURE PRIVATE LIMITED

25/09/2014

-

U45201DL2005PTC136318

HEIGHTS INFRASTRUCTURE PRIVATE LIMITED

29/09/2014

-

U70102DL2007PLC160912

SUDHIR POWER PROJECTS LIMITED

10/12/2008

-

U45400DL2008PTC175280

SUNSHINE BUILDESTATE PRIVATE LIMITED

29/07/2011

-

U31200DL2009PLC190575

SUDHIR SALES & SERVICES LIMITED

25/05/2009

-

U31501DL2011PTC226928

SUDHIR CAST RESIN TRANSFORMERS PRIVATE LIMITED

02/11/2011

-

U18109DL2012PTC239929

KHLOE RETAIL PRIVATE LIMITED

07/08/2012

-

U70100DL2013PTC247867

A2Z INFRAHEIGHTS PRIVATE LIMITED

27/09/2014

-

 

Name :

Mr. Sudhir Seth

Designation :

Managing Director

Address :

14 Chinar Drive, DLF Chattarpur Farms, New Delhi – 110074, India

Date of Birth/Age :

01.05.1953

Date of Appointment :

27.09.2012

PAN No.:

ABBPS7543Q

DIN No. :

00281778

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U70100DL2013PTC248100

LIGHT INFRASTRUCTURE PRIVATE LIMITED

29/09/2017

-

U70100DL2013PTC247867

A2Z INFRAHEIGHTS PRIVATE LIMITED

27/09/2014

-

U31501DL2011PTC226928

SUDHIR CAST RESIN TRANSFORMERS PRIVATE LIMITED

02/11/2011

-

U31200DL2009PLC190575

SUDHIR SALES & SERVICES LIMITED

25/05/2009

-

U45400DL2008PTC175280

SUNSHINE BUILDESTATE PRIVATE LIMITED

29/09/2014

-

U70102DL2007PLC160912

SUDHIR POWER PROJECTS LIMITED

10/12/2008

-

U45203DL2005PTC140380

MAGNA INFRASTRUCTURE PRIVATE LIMITED

25/09/2014

-

U45201DL2005PTC136318

HEIGHTS INFRASTRUCTURE PRIVATE LIMITED

29/09/2014

-

U72200DL2005PTC136020

MASTER INFRASTRUCTURE PRIVATE LIMITED

15/03/2014

-

U45201DL2004PTC128188

AVYA DEVELOPERS PRIVATE LIMITED

25/09/2014

-

U65921DL1996PTC077710

PRUDENCE CAPITAL AND MONEY MARKETS PRIVATE LIMITED

29/09/2014

-

U74899DL1989PTC035027

PERFECT COMMERCIAL PRIVATE LIMITED

29/09/2014

-

U85110DL1993PLC308149

SUDHIR TRANSFORMERS LIMITED

20/09/2008

-

 

 

Name :

Mr. Maharaj Kishen Trisal

Designation :

Whole-time Director

Address :

V-9/3, DLF City Phase – 3, Gurugram– 122002, Haryana, India

Date of Birth/Age :

26.11.1953

PAN No.:

AABPT3496Q

Date of Appointment :

16.12.2014

DIN No. :

00059545

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U85110DL1993PLC308149

SUDHIR TRANSFORMERS LIMITED

30/09/2014

-

L45201DL1983PLC016821

ANSAL HOUSING AND CONSTRUCTION LIMITED

24/09/2013

-

L52110HR1989PLC070351

KOHINOOR FOODS LIMITED.

30/09/2013

-

U40101DL1997PLC088255

RBC MOTORS INDIA LIMITED

02/11/2007

-

U70102DL2007PLC160912

SUDHIR POWER PROJECTS LIMITED

30/09/2010

-

U31200DL2009PLC190575

SUDHIR SALES & SERVICES LIMITED

29/09/2014

-

 

 

Name :

Mrs. Indu Seth

Designation :

Director

Address :

14 Chinar Drive, DLF Chattarpur Farms, New Delhi – 110074, India

Date of Birth/Age :

25.10.1955

Qualification:

Graduate

Date of Appointment :

29.09.2014

PAN No.:

AASPS9458A

DIN No. :

00281711

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U65921DL1996PTC077710

PRUDENCE CAPITAL AND MONEY MARKETS PRIVATE LIMITED

29/09/2014

-

U34103DL2004PTC128817

ALIVE AUTOMOTIVES PRIVATE LIMITED

25/09/2014

-

U45203DL2005PTC140380

MAGNA INFRASTRUCTURE PRIVATE LIMITED

25/09/2014

-

U70102DL2007PLC160912

SUDHIR POWER PROJECTS LIMITED

10/12/2008

-

U45400DL2008PTC175280

SUNSHINE BUILDESTATE PRIVATE LIMITED

29/09/2014

-

U31200DL2009PLC190575

SUDHIR SALES & SERVICES LIMITED

25/05/2009

-

 

 

Name :

Mr. Utsav Seth

Designation :

Director

Address :

Flat No. 501, 5th Floor, Chitra Condominium, West Avenue, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

24.07.1972

Date of Appointment :

29.09.2014

DIN No. :

01480780

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U31200DL2009PLC190575

SUDHIR SALES & SERVICES LIMITED

29/09/2014

-

U45400TN2007PTC063510

MODA LIVING SPACES PRIVATE LIMITED

28/09/2009

-

U85110DL1993PLC308149

SUDHIR TRANSFORMERS LIMITED

30/09/2014

-

U70102DL2007PLC160912

SUDHIR POWER PROJECTS LIMITED

29/09/2014

-

U74140TN2002PLC049617

SUPERSIGHT INDIA LIMITED

18/09/2002

-

U19201TN1997PLC039365

GTFC LIMITED

21/01/2014

-

 

 

Name :

Mr. Pankaj Renjhen

Designation :

Director

Address :

P-1/11, DLF City Phase – ll, Gurugram– 122002, Haryana, India

Date of Birth/Age :

03.03.1976

Qualification:

MBA

Date of Appointment :

19.09.2008

DIN No. :

01809021

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U85110DL1993PLC308149

SUDHIR TRANSFORMERS LIMITED

30/09/2014

-

U70102DL2007PLC160912

SUDHIR POWER PROJECTS LIMITED

30/09/2010

-

U31200DL2009PLC190575

SUDHIR SALES & SERVICES LIMITED

29/09/2014

-

 

 

KEY EXECUTIVES

 

Name :

Rachit Dhingra

Designation :

Company Secretary

Address :

WZ 33/134D, Mukherjee Park Extn, Tilak Nagar, New Delhi- 110018, India

Date of Appointment :

06.01.2018

PAN No.:

AUCPD9244K

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

 

Sudhir Seth

 

4202079

Rahul Seth

 

1

Indu Seth

 

525525

Kritika Seth

 

525

Sudhir Seth HUF

 

525

Kamala Seth

 

10

Rahul Seth HUF

 

10

 

 

 

Total

 

4728675

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is mainly engaged in the business of manufacturing and supply of Diesel Generator Sets, Transformers, Panels, Packaged Sub- Stations and associate equipments and its parts. [Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Manufacture of power generators (except battery charging alternators for internal combustion engines), motor generator sets (except turbine generator set units)

27101

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

State Bank of India

Branch :

Industrial Finance Branch14th Floor, Jawahar Vyapar Bhawan, 1 Tolstoy Marg, New Delhi - 110001, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • Citi Bank N.A., Jeevan Bharti Building, 4th Floor124 Connaught Circus, Connaught Place, New Delhi - 110001, India
  • The Hongkong and Shanghai Banking Corporation Limited, 25 Barakhamba RoadNew Delhi - , 110001, India

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2016

As on

31.03.2015

SHORT TERM BORROWING

 

 

Other loans and advances, others

41.183

76.490

Total

41.183

76.490

 

 

Auditors :

 

Name :

S.R. Batliboi and Associates LLP

Chartered Accountants

Address :

Golf View Corporate Tower-B, Sector 42, Sector Road, Gurugram – 122002, Haryana, India

Income-tax PAN of auditor or auditor's firm :

AABFS3421N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary Companies (AS ON 31.03.2016):
  • Sudhir Power Projects Limited
  • Sudhir Sales & Services Limited
  • Sudhir Transformers Limited
  • Sudhir Gensets FZE, UAE
  • Double Ess Estates Private Limited
  • Sudhir Tesar Private Limited

 

 

Joint Ventures (AS ON 31.03.2016):
  • Consortium of Sudhir Power Projects Limited and Sudhir Power Limited

 

 

Enterprises owned or significantly influenced by key management personnel or their relatives (AS ON 31.03.2016):
  • S.R. Seth & Sons
  • Master Infrastructure Private Limited
  • Sudhir Ready Gensets Consortium
  • Sunshine Buildestate Private Limited
  • Consortium of Sudhir Power Projects Limited and Cobra
  • Sudhir Foundation

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000000

Equity Shares

INR 10/- each

INR 150.000 Million

260000000

Preference Shares

INR 10/- each

INR 2600.000 Million

 

 

 

 

 

Total

 

INR 2750.000 Million

 

Issued Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4728675

Equity Shares

INR 10/- each

INR 47.287 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

47.287

47.287

47.287

(b) Reserves and Surplus

13996.757

12974.402

11911.776

(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)

14044.044

13021.689

11959.063

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long-term liabilities

0.000

0.000

18.290

(d) long-term provisions

0.000

0.000

2.318

Total Non-current Liabilities (3)

0.000

0.000

20.608

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

41.183

76.490

21.590

(b) Trade payables

1514.994

1233.499

1286.366

(c) Other current liabilities

331.208

444.853

599.756

(d) Short-term provisions

19.750

17.826

58.344

Total Current Liabilities (4)

1907.135

1772.668

1966.056

 

 

 

 

TOTAL

15951.179

14794.357

13945.727

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1149.123

1244.174

1152.579

(ii) Intangible Assets

4.774

7.769

10.755

(iii) Tangible assets capital work-in-progress

879.560

0.000

178.902

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

756.627

890.021

967.146

(c) Deferred tax assets (net)

54.058

34.162

10.813

(d) Long-term loans and advances

1171.871

1894.693

1727.176

(e) Other Non-current assets

3.241

53.971

41.792

Total Non-Current Assets

4019.254

4124.790

4089.163

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

8273.428

7419.752

6046.112

(b) Inventories

1372.771

1256.274

1618.669

(c) Trade receivables

1147.098

813.378

1050.219

(d) Cash and bank balances

257.233

255.085

287.095

(e) Short-term loans and advances

820.501

808.103

754.411

(f) Other current assets

60.894

116.975

100.058

Total Current Assets

11931.925

10669.567

9856.564

 

 

 

 

TOTAL

15951.179

14794.357

13945.727

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

Income

9125.236

7945.357

8993.565

 

Other Income

399.767

696.487

605.218

 

TOTAL

9525.003

8641.844

9598.783

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

7235.215

6164.578

7421.266

 

Purchases of Stock-in-Trade

0.000

0.000

13.465

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(36.124)

117.170

(44.744)

 

Employee benefit expense

362.387

329.496

312.894

 

CSR expenditure

0.650

0.500

0.000

 

Other expenses

570.064

556.761

484.808

 

TOTAL

8132.192

7168.505

8187.689

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1392.811

1473.339

1411.094

 

 

 

 

 

Less

FINANCIAL EXPENSES

15.333

13.707

13.451

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

1377.478

1459.632

1397.643

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

110.781

134.702

108.598

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1266.697

1324.930

1289.045

 

 

 

 

 

Less

TAX

244.342

262.304

229.169

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

1022.355

1062.626

1059.876

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

91.143

85.848

71.605

 

TOTAL EARNINGS

91.143

85.848

71.605

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

81.509

104.778

47.625

 

Components and spare parts

0.000

0.155

1.545

 

Capital Goods

24.181

0.000

5.333

 

TOTAL IMPORTS

105.690

104.933

54.503

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

216.20

224.72

224.14

 

 

 

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

1099.588

1062.225

1349.531

 

 

 

 

Net cash flows from (used in) operating activities

830.576

749.603

1053.404

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

45.88

37.37

42.62

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

7.96

9.77

8.56

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

76.43

73.03

63.15

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

1.01

1.17

0.87

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.68

1.18

1.05

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.12

0.12

0.14

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.01

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.14

0.14

0.16

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.14

0.10

0.11

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

90.84

107.49

104.91

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

Net Profit Margin

((PAT / Sales) * 100)

%

11.20

13.37

11.78

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

6.41

7.18

7.60

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

7.28

8.16

8.86

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

6.26

6.02

5.01

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

5.54

5.31

4.19

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.88

0.88

0.86

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.87

1.62

0.46

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

6.26

6.02

5.01

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

47.287

47.287

47.287

Reserves & Surplus

11911.776

12974.402

13996.757

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

11959.063

13021.689

14044.044

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

21.590

76.490

41.183

Total borrowings

21.590

76.490

41.183

Debt/Equity ratio

0.002

0.006

0.003

 

 

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

8993.565

7945.357

9125.236

 

 

(11.655)

14.850

 

 

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

8993.565

7945.357

9125.236

Profit/ (Loss)

1059.876

1062.626

1022.355

 

11.78 %

13.37 %

11.20 %

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

 

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

47.287

(b) Reserves & Surplus

 

 

14303.883

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Minority Interest

 

 

11.240

Total Shareholders’ Funds (1) + (2)

 

 

14362.410

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

0.000

(b) Deferred tax liabilities (Net)

 

 

0.000

(c) Other long term liabilities

 

 

0.000

(d) long-term provisions

 

 

0.000

Total Non-current Liabilities (3)

 

 

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

808.789

(b) Trade payables

 

 

2208.847

(c) Other current liabilities

 

 

745.094

(d) Short-term provisions

 

 

54.957

Total Current Liabilities (4)

 

 

3817.687

 

 

 

 

TOTAL

 

 

18180.097

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

1980.649

(ii) Intangible Assets

 

 

12.939

(iii) Capital work-in-progress

 

 

879.560

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

303.985

(c) Deferred tax assets (net)

 

 

82.457

(d)  Long-term Loan and Advances

 

 

1261.870

(e) Other Non-current assets

 

 

35.995

Total Non-Current Assets

 

 

4557.455

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

8396.299

(b) Inventories

 

 

1863.781

(c) Trade receivables

 

 

1843.806

(d) Cash and cash equivalents

 

 

537.539

(e) Short-term loans and advances

 

 

434.445

(f) Other current assets

 

 

546.772

Total Current Assets

 

 

13622.642

 

 

 

 

TOTAL

 

 

18180.097

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

 

31.03.2016

 

SALES

 

 

 

 

Income

 

 

11772.589

 

Other Income

 

 

383.163

 

TOTAL

 

 

12155.752

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

 

8287.303

 

Project Execution Expenses

 

 

924.186

 

Cost of material consumed in hotel operation

 

 

15.023

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

 

(157.596)

 

Employees benefits expense

 

 

605.393

 

Other expenses

 

 

827.111

 

TOTAL

 

 

10501.420

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

 

1654.332

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

 

53.312

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

 

1601.020

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

238.603

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

1362.417

 

 

 

 

 

Less

TAX

 

 

280.626

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

 

1081.791

 

 

 

 

 

Add

Share of PROFIT/ (LOSS)  transferred to minority

 

 

2.355

 

 

 

 

 

 

Net Profit for the year after minority interest

 

 

1084.146

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

229.27

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

CORPORATE INFORMATION

 

Subject is a closely held Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is mainly engaged in the business of manufacturing and supply of diesel generating sets and associate equipments and its parts. The Company also runs a hotel at Gurgaon in the state of Haryana.

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

G04107702

100028248

STATE BANK OF INDIA

28/04/2016

-

-

600000000.0

INDUSTRIAL FINANCE BRANCH14TH FLOOR, JAWAHAR VYAPAR BHAWAN, 1 TOLSTOY MARGNEW DELHIDL110001IN

2

C46168878

10512873

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

25/07/2014

04/03/2015

-

250000000.0

BIRLA TOWER25, BARAKHAMBHA ROADNEW DELHIDL110001IN

3

G70987417

10443757

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

01/08/2013

21/12/2017

-

1050000000.0

25 BARAKHAMBA ROADNEW DELHIDL110001IN

4

B82753237

10444364

YES BANK LIMITED

23/07/2013

-

-

500000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN

5

B95569299

10161097

KOTAK MAHINDRA BANK LIMITED

03/06/2009

17/01/2014

-

1000000000.0

7TH FLOOR, AMBADEEP BUILDING,K G MARG,NEW DELHIDL110001IN

6

B87362422

10159748

HDFC BANK LIMITED

10/04/2009

24/09/2013

-

700000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

7

C81689085

80013566

CITI BANK N.A.

01/11/2002

19/02/2016

-

1740000000.0

JEEVAN BHARTI BUILDING, 4TH FLOOR124 CONNAUGHT CIRCUS, CONNAUGHT PLACENEW DELHIDL110001IN

8

B79140646

10077158

ABN AMRO BANK N.V.

31/10/2007

28/12/2009

04/07/2013

300000000.0

HANSALYA BUILDING15 BARAKHAMBA ROADNEW DELHIDL110001IN

9

B16409559

10157898

SYNDICATE BANK

30/03/2009

-

20/06/2011

216000000.0

29A/1, MADHO MANSION,ASAF ALI ROAD,NEW DELHIDL110002IN

 

FIXED ASSETS:

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Computer equipments
  • Office equipment

 

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, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 65.20

UK Pound

1

INR 91.49

Euro

1

INR 80.46

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

PSD

 

 

Report Prepared by :

KVT

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.