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MIRA INFORM REPORT
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Report No. : |
499756 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
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Name : |
GE POWER INDIA LIMITED (w.e.f. 05.08.2016) |
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Formerly Known
As : |
ALSTOM INDIA LIMITED (w.e.f. 06.06.2012) ALSTOM PROJECTS INDIA LIMITED |
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Registered
Office : |
The International, 5th Floor, 16 Marine Lines, Cross Road
No. 1, Off Maharshi Karve Road, Churchgate, Mumbai – 400020, Maharashtra |
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Tel. No.: |
91- 22- 22000487 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
02.09.1992 |
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Com. Reg. No.: |
11-068379 |
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Capital
Investment / Paid-up Capital : |
INR 672.300 Million |
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CIN No.: [Company Identification
No.] |
L74140MH1992PLC068379 |
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IEC No.: |
0399054081 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCA8679F |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the business of engineering,
procurement, manufacturing, construction and servicing of power plants and
power equipment. [Registered
Activity] |
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No. of Employees
: |
2929 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company incorporated in the year 1992. It has fine track records. It is engaged in the business of engineering, procurement, manufacturing, construction and servicing etc. of power plants and power equipment. General Electric Company (GE) had acquired the Power and Grid business of Alstom SA in November 2015. Accordingly the name of the company has been changed to “GE Power India Limited” from “Alstom India Limited” as on 5th August 2016. For the financial year 2017, the company achieved revenue growth of
16.13% along with along profit margin of 0.014%. The rating takes into consideration strong financial risk profile of
the company marked by adequate net worth base along with debt free capital
structure. As per the quarterly financial of December 2017, the company achieved
revenue of INR 3653.000 Million but has incurred operational loss due to
exceptional restructuring expenses undertaken in the quarter. These expenses
are one-time in nature and not expected to recur going forward. Further, the rating draws comfort from the strong technical
capabilities and company’s tie up for support critical boilers with BHEL
Limited, which commands leading position in Indian Power equipment industry. Business is active. Payment seems to be regular and as per
commitments. In view of strong market position in power equipment industry, the
company can be considered normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA RATING |
|
Rating |
Long Term Bank Facilities = AA |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
08.02.2018 |
|
Rating Agency Name |
ICRA RATING |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
08.02.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 24.03.2018.
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
Management Non-Cooperative [Tel. No.: 91-22-66399260]
Given number i.e. 91-22-22000487 does not exist.
LOCATIONS
|
Registered Office : |
International, 5th Floor, 16 Marine Lines, Cross Road No. 1,
Off Maharshi Karve Road, Churchgate, Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91- 22- 22000528/ 66399260/ 66399255 |
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Fax No.: |
91-22- 22000324/ 22086905 /66399259 |
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E-Mail : |
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Website : |
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Corporate Office : |
IHDP Building, Plot No.7, Sector – 127, Noida – 201301, Uttar Pradesh,
India |
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Tel no.: |
91-120-4731100 |
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Head Office/
Manufacturing Facility : |
Erda Road, GIDC, Maneja, Vadodara – 390013, Gujarat, India |
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Tel. No.: |
91-265-6613000 |
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Fax No.: |
91-265-6613081 |
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Branch Office 1 : |
KG Masterpiece, 1st Floor – 144, Nelson Manickkam Road, Mehta
Nagar, Aminjikarai, Chennai – 600029, Tamilnadu, India |
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Branch Office 2 : |
Millennium City, IT Park, Tower - II, 10th and 14th Floor, Plot No 62,
Block DN Sector V, Salt Lake City, Kolkata – 700091, West Bengal, India |
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Factory : |
Located At: · Vadodara · Durgapur · Shahabad · Noida |
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Marketing/ Other
Offices : |
Located At: ·
Bangalore ·
Chennai ·
Hyderabad ·
Kolkata ·
Mumbai ·
Nagpur ·
Noida ·
Vadodara ·
Varanasi |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rathindra Nath Basu |
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Designation : |
Chairman and Non-Executive Director |
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Address : |
C -302, Pearls Gateway Tower Plot No.-D8A,
Sector – 44, Noida – 201301, Uttar Pradesh, India |
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Date of Appointment : |
01.04.2014 |
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DIN No.: |
01192973 |
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Name : |
Mr. Patrick Ledermann |
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Designation : |
Vice-Chairman and Managing Director |
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DIN No: |
05219344 |
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|
Name : |
Mr. Ashok Ganesan |
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Designation : |
Managing Director |
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Address : |
215B, Tower-2, 15th Floor, DLF Aralias, Golf
Course Road, Gurugram – 122002, Haryana, India |
|
Date of Appointment : |
01.04.2016 |
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DIN No.: |
07468130 |
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Name : |
Mr. Uddesh Kumar Kohli |
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Designation : |
Director |
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Address : |
S-50, Greater Kailash – I, New Delhi –
110048, India |
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Date of Appointment : |
28.12.2005 |
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DIN No.: |
00183409 |
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Name : |
Mr. Arun Kannan Thiagarajan |
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Designation : |
Director |
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Address : |
Grace Home, 37 Kanakapura Road,
Basavanagudi Bangalore – 560004, Karnataka, India |
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Date of Appointment : |
28.12.2005 |
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DIN No.: |
00292757 |
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Name : |
Neera Saggi |
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Designation : |
Additional Director |
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Address : |
Flat No.1002,Atlantis Building, Raheja
Acropolis-I CHSL, Deonarpada Road, Deonar Village, Chembur, Mumbai – 400088,
Maharashtra, India |
|
Date of Appointment : |
14.06.2016 |
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DIN No.: |
00501029 |
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|
Name : |
Mr. Alain Christian Spohr |
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Designation : |
Additional Director |
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Address : |
C- 473, 1st Floor, Defence Colony, New
Delhi – 110024, India |
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Date of Appointment : |
01.04.2016 |
|
DIN No.: |
03581607 |
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Name : |
Vishal Keerti Wanchoo |
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Designation : |
Director |
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Address : |
915 B, Aralias DLF, Phase 5, Gurugram – 122009, Haryana, India |
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Appointment Date : |
30.05.2017 |
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DIN No.: |
02776467 |
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Name : |
Mr. Sanjeev Agarwal |
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Designation : |
Whole-time Director |
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Name : |
Mr. Andrew H De Leone |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Vasudevan Kotivenkatesan |
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Designation : |
Non-Executive and independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Sharma |
|
Designation : |
Chief Financial Officer |
|
Address : |
55, Nilgiri Appartment, Alaknanda Kalkaji,
Delhi – 110019, India |
|
Date of Appointment : |
01.04.2014 |
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PAN No.: |
AOLPS8045L |
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|
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|
Name : |
Mr. Pradeepta Kumar Puhan |
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Designation : |
Company Secretary |
|
Address : |
Metro Apartments, A-39, Block - A/5, Sector
– 71, Noida – 201301, Uttar Pradesh, India |
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Date of Appointment : |
01.09.2010 |
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PAN No.: |
AAHPP1157C |
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MANAGEMENT TEAM |
1 |
|
Name : |
Mr. Rathindra Nath Basu |
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Designation : |
Country President, India and South Asia (w.e.f. 01 April 2014) |
|
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|
Name : |
Mr. Patrick Ledermann |
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Designation : |
Vice Chairman and Managing Director |
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|
Name : |
Mr. Vijay Sharma |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Amaresh Singh |
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Designation : |
Country Human Resources Director, India |
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Name : |
Mr. Sapna Lalwani |
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Designation : |
Country Communications Director |
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Name : |
Mr. Hiren Vyas |
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Designation : |
Country Legal Director |
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Name : |
Mr. Ashish Ohri |
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Designation : |
Regional Director, India, End User Service and Support |
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Name : |
Mr. Bruno Godin |
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Designation : |
GM, Hydro India |
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|
Name : |
Mr. Alok Jha |
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Designation : |
Regioanl V.P. GPS India |
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Name : |
Mr. Neeraj Nanda |
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Designation : |
GM Gas India |
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Name : |
Mr. Sudhanshu Goel |
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Designation : |
MD Boiler India |
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Name : |
Mr. Anoop Roy |
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Designation : |
MD ECS India (w.e.f. 01 September 2014) |
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|
Name : |
Mr. Rajeev Sharma |
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Designation : |
Managing Director, Local Service Centre – Thermal Services India |
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|
Name : |
Mr. Sanjeev Agarwal |
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Designation : |
MD, Boiler Product Line |
MAJOR SHAREHOLDERS
AS ON 31.12.2017
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
4,61,02,083 |
68.58 |
|
|
(B) Public |
2,11,25,388 |
31.42 |
|
|
Grand Total |
6,72,27,471 |
100.00 |
|
Statement
showing shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
A2) Foreign |
0.00 |
|
|
|
Any Other (specify) |
4,61,02,083 |
68.58 |
|
|
Alstom Finance B.V. (Presently Alstom India Tracking B.V.) |
4,61,02,083 |
68.58 |
|
|
Sub Total A2 |
4,61,02,083 |
68.58 |
|
|
A=A1+A2 |
4,61,02,083 |
68.58 |
|
Statement
showing shareholding pattern of the Public shareholder
|
Category &
Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957 As a
% of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
|
|
|
Mutual Funds/ |
83,79,277 |
12.46 |
|
|
Aditya Birla Sun Life Trustee Private Limited Through Its Various
Accounts |
10,92,456 |
1.63 |
|
|
HDFC Trustee Company Limited - Hdfc Prudence Fund |
7,34,200 |
1.09 |
|
|
Reliance Capital Trustee Co. Ltd Through Its Various Accounts |
59,71,124 |
8.88 |
|
|
Alternate Investment Funds |
1,28,400 |
0.19 |
|
|
Foreign Portfolio Investors |
15,36,858 |
2.29 |
|
|
Financial Institutions/ Banks |
8,98,200 |
1.34 |
|
|
Life Insurance Corporation Of India Through Its Various Accounts |
7,34,463 |
1.09 |
|
|
Insurance Companies |
3,18,506 |
0.47 |
|
|
Sub Total B1 |
1,12,61,241 |
16.75 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
|
|
|
Central Government/ State Government(s)/ President of India |
2,59,742 |
0.39 |
|
|
Sub Total B2 |
2,59,742 |
0.39 |
|
|
B3) Non-Institutions |
0.00 |
|
|
|
Individual share capital upto INR 0.200 Million |
61,09,854 |
9.09 |
|
|
Individual share capital in excess of INR 0.200 Million |
4,02,639 |
0.60 |
|
|
NBFCs registered with RBI |
26,650 |
0.04 |
|
|
Any Other (specify) |
30,65,262 |
4.56 |
|
|
Trusts |
13,872 |
0.02 |
|
|
NRI |
1,60,456 |
0.24 |
|
|
Clearing Members |
46,238 |
0.07 |
|
|
Overseas corporate bodies |
8,383 |
0.01 |
|
|
Director or Director's Relatives |
13,415 |
0.02 |
|
|
NRI – Non- Repat |
1,06,333 |
0.16 |
|
|
Bodies Corporate |
22,89,354 |
3.41 |
|
|
Birla Sun Life Insurance Company Limited |
7,63,049 |
1.14 |
|
|
Reliance Nippon Life Insurance Company Limited Through Its Various
Accounts |
7,12,863 |
1.06 |
|
|
IEPF |
1,16,324 |
0.17 |
|
|
HUF |
3,10,865 |
0.46 |
|
|
Foreign Individuals |
22 |
0.00 |
|
|
Sub Total B3 |
96,04,405 |
14.29 |
|
|
B=B1+B2+B3 |
2,11,25,388 |
31.42 |
|
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of engineering,
procurement, manufacturing, construction and servicing of power plants and
power equipment. [Registered
Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
2929 (Approximately) |
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Bankers : |
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Statutory Auditors : |
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Name : |
BSR and Company LLp Chartered Accountants |
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Secretarial Auditors : |
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|
Name : |
Hemant Singh and Associates Company Secretaries |
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Internal Auditors : |
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|
Name : |
Ernst and Young LLP |
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Cost Auditors : |
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|
Name : |
Shome and Banerjee Cost Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Alstom India Tracking BV (Formerly known as ALSTOM FINANCE BV) |
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Ultimate Holding
Company : |
General Electric Company, United States (Since Nov 02, 2015)* |
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Parties controlled by
the Company (Subsidiaries) : |
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Other related parties
with whom transactions have taken place during the year (fellow
subsidiaries/associates) : |
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Joint venture under
the common control of the Ultimate holding Company : |
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Related parites
till 01 Nov 2015 : |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
195000000 |
Equity Shares |
INR 10/- each |
INR1950.000 Million |
|
40500000 |
Preference Shares |
INR 100/- each |
INR 4050.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 6000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
67227471 |
Equity Shares |
INR 10/- each |
INR 672.300 Million |
|
|
|
|
|
Movement of the
shares outstanding at the beginning and at the end of the reporting year
|
Equity shares |
31.03.2017 |
|
|
Numbers |
IN In Million |
|
|
At the beginning of the year |
67227471 |
67.230 |
|
At the end of the
year |
67227471 |
67.230 |
Terms / rights
attached to equity shares
The Company has only one class of Equity shares having a par value of INR 10 Per share. Each holder of equity shares is entitled to one vote Per share. The Company declares and pays dividends, if any, in Indian rupees. The dividend proposed by the Board of Directors, if any, is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend.
In the event of liquidation of Group entity, the holders of equity shares will be entitled to receive remaining assets of that entity, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Shares held by
holding / ultimate holding Company and / or their subsidiaries
|
Particular |
31.03.2017 |
|
|
Numbers |
(INR In Million) |
|
|
Equity share by ALSTOM India Tracking BV (Formerly known as ALSTOM FINANCE BV), Netherlands, the immediate holding Company |
46088294 |
460.900 |
|
Equity share by GE Energy Europe BV Netherlands, subsidiary of ultimate holding company |
13789 |
0.100 |
GE Energy Europe BV (GEEE B.V.) on 2 May 2017, sold its entire shareholding (13,789 shares) in the Company to Alstom India Tracking BV (formerly known as Alstom Finance BV). On account of this transaction, GEEE BV Will no longer be shown as a promoter in any disclosures made by the Company in accordance with applicable laws in India and in the shareholding pattern of the Company, on a going forward basis.
General Electric Company, United States is the ultimate holding company with effect from 2 November 2015. ALSTOM France was ultimate holding company and ALSTOM Holdings France was holding company till 1 November 2015.
Details of
shareholders holding more than 5% shares in the Company
|
Particulars |
31.03.2017 |
|
|
Numbers |
% of holding |
|
|
ALSTOM India Tracking BV (Formerly known as ALSTOM FINANCE BV), Netherlands (the immediate holding Company) |
46088294 |
68.56 |
Shares allotted as
fully paid up pursuant to contract(s) without payment being received in cash
(during 5 years immediately preceding 31 March 2017
6,097,561 Equity shares of INR 10 each issued to the erstwhile shareholders of ALSTOM Holdings (India) Limited pursuant to the Scheme of Amalgamation which became effective on 20 April 2012 with effect from 1 April 2011, the appointed date without payment being received in cash
FINANCIAL DATA
[all figures are
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 |
672.300 |
672.300 |
672.300 |
|
(b) Reserves &
Surplus |
7632.200 |
7585.200 |
9113.100 |
|
(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) |
8304.500 |
8257.500 |
9785.400 |
|
|
|
|
|
|
(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 |
96.600 |
|
(d) long-term provisions |
803.900 |
919.000 |
467.400 |
|
Total Non-current
Liabilities (3) |
803.900 |
919.000 |
564.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Construction Contract
in progress, liabilities |
0.000 |
0.000 |
13972.300 |
|
(c) Trade payables |
9237.000 |
8080.100 |
2541.200 |
|
(d) Other current
liabilities |
16633.800 |
16906.100 |
1555.300 |
|
(e) Short-term provisions |
1803.300 |
1700.200 |
2251.000 |
|
Total Current Liabilities
(4) |
27674.100 |
26686.400 |
20319.800 |
|
|
|
|
|
|
TOTAL |
36782.500 |
35862.900 |
30669.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3496.800 |
3737.900 |
3950.900 |
|
(ii) Intangible Assets |
4.000 |
4.800 |
12.900 |
|
(iii) Capital
work-in-progress |
279.400 |
393.100 |
499.700 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
26.700 |
26.700 |
0.000 |
|
(c) Deferred tax assets
(net) |
1121.500 |
1200.000 |
298.400 |
|
(d) Long-term Loan and Advances |
173.000 |
161.900 |
587.500 |
|
(e) Other Non-current
assets |
2023.800 |
1013.000 |
0.000 |
|
Total Non-Current Assets |
7125.200 |
6537.400 |
5349.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3890.400 |
3635.900 |
495.900 |
|
(c) Construction
contracts in progress, assets |
0.000 |
0.000 |
3572.400 |
|
(d) Trade receivables |
8450.700 |
10809.500 |
9646.600 |
|
(e) Cash and cash
equivalents |
8480.300 |
5122.400 |
7168.200 |
|
(f) Short-term loans and advances |
2326.100 |
2107.300 |
3752.600 |
|
(g) Other current assets |
6509.800 |
7650.400 |
684.100 |
|
Total Current Assets |
29657.300 |
29325.500 |
25319.800 |
|
|
|
|
|
|
TOTAL |
36782.500 |
35862.900 |
30669.200 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
20412.300 |
17577.000 |
21242.900 |
|
|
|
|
Other Income |
1455.500 |
1842.600 |
1232.300 |
|
|
|
|
TOTAL |
21867.800 |
19419.600 |
22475.200 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
11143.900 |
9806.400 |
10960.300 |
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(388.300) |
596.900 |
0.000 |
|
|
|
|
Excise Duty |
477.500 |
471.500 |
0.000 |
|
|
|
|
Employees benefits expense |
4867.500 |
5484.700 |
5026.000 |
|
|
|
|
Other expenses |
3858.500 |
3065.500 |
3570.600 |
|
|
|
|
Exceptional Items |
518.000 |
0.000 |
0.000 |
|
|
|
|
Profit on sale of business |
0.000 |
0.000 |
(485.900) |
|
|
|
|
TOTAL |
20477.100 |
19425.000 |
19071.000 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1390.700 |
(5.400) |
3404.200 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
508.300 |
217.200 |
10.400 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
882.400 |
(222.600) |
3393.800 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
597.900 |
719.100 |
730.500 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
284.500 |
(941.700) |
2663.300 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
281.600 |
(363.800) |
892.600 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
2.900 |
(577.900) |
1770.700 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
NA |
1169.500 |
563.200 |
|
|
|
|
Components and Stores parts |
NA |
1216.300 |
541.900 |
|
|
|
|
Capital Goods |
NA |
23.900 |
164.000 |
|
|
|
TOTAL IMPORTS |
NA |
2409.700 |
1269.100 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
0.04 |
(8.60) |
20.75 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
4333.900 |
785.300 |
2869.900 |
|
Net cash flows from (used in) operations |
4326.800 |
624.300 |
1893.000 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
|
|
|
|
Net sales |
3496.600 |
2619.500 |
3653.000 |
|
Total Expenditure |
3338.400 |
2633.100 |
3378.700 |
|
PBIDT (Excluding Other Income) |
158.200 |
(13.600) |
274.300 |
|
Other income |
387.300 |
344.300 |
452.900 |
|
Operating Profit |
545.500 |
330.700 |
727.200 |
|
Interest |
64.200 |
58.000 |
30.500 |
|
Exceptional Items |
(174.100) |
(16.600) |
(1227.000) |
|
PBDT |
307.200 |
256.100 |
(530.300) |
|
Depreciation |
139.200 |
145.000 |
123.300 |
|
Profit Before Tax |
168.000 |
111.100 |
(653.600) |
|
Tax |
62.200 |
45.500 |
(232.300) |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
105.800 |
65.600 |
(421.300) |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
105.800 |
65.600 |
(421.300) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
151.11 |
224.47 |
165.75 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.42 |
1.63 |
2.20 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
302.54 |
300.75 |
84.63 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.36 |
0.00 |
6.86 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.37 |
0.00 |
0.76 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.75 |
0.74 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.33 |
3.23 |
2.08 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.46 |
0.50 |
0.46 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.74 |
(0.02) |
327.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.01 |
(3.29) |
8.34 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.01 |
(1.61) |
5.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.03 |
(7.00) |
18.10 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.07 |
1.10 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.93 |
0.96 |
1.22 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.23 |
0.23 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.07 |
1.10 |
1.25 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 835.90/- |
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 |
672.300 |
672.300 |
672.300 |
|
Reserves & Surplus |
9113.100 |
7585.200 |
7632.200 |
|
Net worth |
9785.400 |
8257.500 |
8304.500 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
21242.900 |
17577.000 |
20412.300 |
|
|
|
(17.257) |
16.131 |
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 |
21242.900 |
17577.000 |
20412.300 |
|
Profit |
1770.700 |
(577.900) |
2.900 |
|
|
8.34% |
(3.29%) |
0.01% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
672.300 |
672.300 |
|
(b) Reserves &
Surplus |
|
7601.600 |
7582.100 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
8273.900 |
8254.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
803.900 |
919.000 |
|
Total Non-current
Liabilities (3) |
|
803.900 |
919.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
9239.600 |
8084.200 |
|
(c) Other current
liabilities |
|
16634.100 |
16906.500 |
|
(d) Short-term provisions |
|
1818.100 |
1714.000 |
|
Total Current Liabilities
(4) |
|
27691.800 |
26704.700 |
|
|
|
|
|
|
TOTAL |
|
36769.600 |
35878.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
3496.800 |
3737.900 |
|
(ii) Intangible Assets |
|
4.000 |
4.800 |
|
(iii) Capital
work-in-progress |
|
279.400 |
393.100 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
26.700 |
26.700 |
|
(c) Deferred tax assets
(net) |
|
1121.500 |
1200.000 |
|
(d) Long-term Loan and Advances |
|
1205.400 |
162.100 |
|
(e) Other Non-current
assets |
|
997.400 |
1018.700 |
|
Total Non-Current Assets |
|
7131.200 |
6543.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3890.400 |
3635.900 |
|
(c) Trade receivables |
|
8450.700 |
10809.500 |
|
(d) Cash and cash
equivalents |
|
8502.000 |
5136.800 |
|
(e) Short-term loans and
advances |
|
2291.100 |
2107.300 |
|
(f) Other current assets |
|
6504.200 |
7645.300 |
|
Total Current Assets |
|
29638.400 |
29334.800 |
|
|
|
|
|
|
TOTAL |
|
36769.600 |
35878.100 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
20412.300 |
17577.000 |
|
|
Other Income |
|
1456.800 |
1843.700 |
|
|
TOTAL |
|
21869.100 |
19420.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
11143.900 |
9806.400 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(388.300) |
596.900 |
|
|
Excise Duty |
|
477.500 |
471.500 |
|
|
Employees benefits
expense |
|
4867.500 |
5484.700 |
|
|
Other expenses |
|
3887.300 |
3068.800 |
|
|
Exceptional Items |
|
518.000 |
|
|
|
TOTAL |
|
20505.900 |
19428.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
1363.200 |
(7.600) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
508.300 |
217.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
854.900 |
(224.800) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
597.900 |
719.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
257.000 |
(943.900) |
|
|
|
|
|
|
|
Less |
TAX |
|
281.600 |
(363.500) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
(24.600) |
(580.400) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(0.37) |
(8.63) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
INDEX OF CHARGE:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B91146548 |
90215880 |
ICICI BANK LIMITED |
07/02/2000 |
21/11/2013 |
- |
19100000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
2 |
A64609753 |
80031191 |
CANARA BANK |
14/01/2000 |
05/06/2009 |
- |
4650000000.0 |
PRIME CORPORATE BRANCH-IGROUND FLOOR, 38, ANSAL TOWER, NEHRU PLACENEW DELHIDL110019IN |
|
3 |
C78393139 |
90215693 |
BNAK OF BARODA |
18/08/2000 |
- |
15/01/2016 |
470000000.0 |
CORPORATEV E BANKING BRACHSANSAD MRAGNEW DELHIDLIN |
|
4 |
C68277755 |
90215881 |
UNION BANK OF INDIA |
14/01/2000 |
09/09/2005 |
27/10/2015 |
2675000000.0 |
INDUSTRIAL FINANCE BRANCHCONNUGHT PLECENEW DELHIDL110019IN |
|
5 |
B26592766 |
90213484 |
ANZ GRINDLAYA BANK |
18/01/2000 |
- |
09/11/2011 |
650000000.0 |
H- BLOCK CONNAUGHT CIRCUSNEW DELHIDLIN |
|
6 |
B25963075 |
90213470 |
BNP PARIBAS |
24/12/1999 |
07/08/2003 |
09/11/2011 |
140000000.0 |
2ND FLOOR DLF CENTREPARLIAMENT STREETNEW DELHIDLIN |
GENERAL INFORMATION
GE Power India Limited (name changed with effect from 5 August 2016, Formerly known as ALSTOM India Limited) (‘the Company’) is a publicly owned Company, incorporated on 2 September 1992 as Asea Brown Boveri Management Limited, Under the provisions of Indian Companies Act. The equity shares of the Company are listed on the BSE Limited and National Stock Exchange of India Limited.
Its operations includes a composite range of activities viz. engineering, procurement, manufacturing, construction and servicing etc. of power plants and power equipment.
MANAGEMENT DISCUSSION
AND ANALYSIS
GLOBAL ECONOMY
Stagnant global trade, subdued investment, and heightened policy uncertainty marked another difficult year for the world economy. A moderate recovery is expected for 2017, weak investment is weighing on medium-term prospects across many emerging markets and developing economies (EMDEs’). Although fiscal stimulus in major economies, if implemented, may boost global growth above expectations, risks to growth forecasts remain tilted to the downside. Important downside risks stem from heightened policy uncertainty in major economies.
Global growth in 2016 is estimated at a post-crisis low of 2.3 percent and is projected to rise to 2.7 percent in 2017, mainly reflecting a recovery in emerging market and developing economies. Advanced-economy growth is expected to recover somewhat, to an average pace of 1.8 percent. In the United States, manufacturing activity is expected to rebound, contributing to a modest pick up in growth from 1.6 percent in FY 2016-17 to an average of 2.2 percent in 2017-18.
European growth slowed from 2 percent in 2015 to 1.6 percent in 2016, as both domestic demand and exports lost momentum. Confidence in the Euro Area has been resilient following the United Kingdom’s vote to exit the European Union (EU) in June 2016. Growth in China is estimated to have slightly decelerated to 6.7 percent in 2016. As part of ongoing economic rebalancing, growth has been concentrated primarily in services, while industrial production has stabilized at moderate levels.
INDIAN ECONOMY
Despite concerns of a slowdown in industrial activities and two consecutive years of poor monsoon in 2014-15 which adversely affected its rural economy during 2015, the Indian economy, as per Government of India (‘GoI’) still estimates to a robust 7 percent growth in 2016, with continued tailwinds from low oil prices and solid agricultural output partly offset by challenges associated with the withdrawal of a large volume of currency in circulation through demonetization. Implementation of the Goods and Services Tax in India has dominated the medium-term domestic fiscal policy agenda and favorable impact on economic growth is expected form this.
India’s growth in the first half of FY2017 was underpinned by robust private and public consumption, which offset slowing fixed investment, subdued industrial activity, and lethargic exports. Consumption was supported by lower energy costs, public sector salary and pension increases and favourable monsoon rains, which boosted urban and rural incomes. Economic activity also benefitted from a pickup in foreign direct investment (FDI) and an increase in public infrastructure spending. Unexpected ‘demonetization’ —the phasing out of large-denomination currency notes which were subsequently replaced with new ones—weighed on growth in the third quarter of FY2017. Weak industrial production and manufacturing and services purchasing managers’ indexes (PMI), further suggest a setback to activity in the fourth quarter of FY2017. A retrenchment in private investment, reflecting excess capacity, corporate deleveraging, and credit constraints due to impaired commercial banks’ balance sheets, also had an adverse effect on activity.
India is expected to regain its momentum, with growth rising to 7.6 percent in FY2018 and strengthening to 7.8 percent in FY 2019-20. various reform initiatives are expected to unlock domestic supply bottlenecks and raise productivity. Infrastructure spending should improve the business climate and attract investment in the near future. The ‘Make in India’ campaign may support India’s manufacturing sector, backed by domestic demand and further regulatory reforms. Moderate inflation and a civil service pay hike should support real incomes and consumption, assisted by bumper harvests after favorable monsoon rains. Benefit of ‘demonetization’ in the medium term may be liquidity expansion in the banking system, helping to lower lending rates and lift economic activities.
The longer-term future of India looks promising due to the investment-centric policies such as ‘Make in India’, ‘Smart Cities’, EODB specific initiatives etc. and base-of the-pyramid targeted initiatives such as universal access to banking, expanding the ambit of direct benefit transfer (DBT) etc. launched by the GoI. GoI has also taken up investment in infrastructure creation, such as those of highways, railways etc. on a large scale. These steps, along with stable Indian rupee have helped Reserve Bank of India to ease monetary policy. Large domestic markets provide Indian economy cushion from the impact of declining exports. Also, global factors such as low prices of petroleum and major commodities along with its inherent advantages such as cheaper workforce, a stable political system with a business conscious Government is likely to help the Indian economy attract domestic and international investments and grow
OUTLOOK
Despite current weakness, the long-term potential of the Indian power sector still remains intact. Despite large capacity additions over the year, the reserve margin remains negative and the demand-supply gap could increase further once industrial activities pick up. Consumers continue to face shortage of quality power. The demand for power is expected to increase substantially as indicated by all major drivers such as high GDP growth (7.5 – 8%), low per capita power consumption 1074 and policy support from the GoI. Steps like rural electrification, feeder separation, financial support to ailing DISCOMs under the UDAY scheme, better availability of domestic coal, initiatives like ‘Smart Cities’, ‘Make in India’ etc. would help India move in this direction. While, renewable energy sources, i.e. Solar and Wind, are expected to grow faster in the immediate future due to policy support, it is expected that coal, which is the cheapest source of electricity for India, would continue having the dominant share in electricity generation mix.
Hence, market for new thermal power plants would revive soon. Availablity of domestic coal is likely to remain comfortable with Coal India Limited’s plans to further increase its production. International coal prices too are at historically low levels. Indian Railways plans to operationalize new routes to ease the coal transportation. Hence, coal is likely to be the most preferred source of electricity for the Indian economy in the foreseeable future.
Other technical requirements, such as continuous availability for base-load demand, grid stability, peak hour demand management etc. too would help revival of thermal power market.
Substantial volume of retrofit and upgrade opportunities, i.e. replacement of old, low capacity-low efficiency equipment with new equipment, for thermal as well as renewable power plants.
With increasing need to generate higher returns from existing investment, higher competition between operating assets to get into dispatch merit order, adherence with environment norms etc., it is expected that the Indian power sector would witness a surge in demand for digital solutions for a range of services. These could include variety of services like efficiency improvement, optimal asset utilization, predictive maintenance, operations planning etc. It may emerge as the most promising segment in near future.
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST DECEMBER 2017
(INR In Million)
|
Particulars |
Quarter Ended |
Quarter Ended |
Nine Months Ended |
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
|
Income from Operations |
|
|
|
|
a) Net Sales / Income
from Operations |
3653.000 |
2619.500 |
9769.100 |
|
b) Other Income |
452.900 |
344.300 |
1184.500 |
|
Total Income from
Operations (net) |
4105.900 |
2963.800 |
10953.600 |
|
Expenditure |
|
|
|
|
a) Cost of materials
consumed |
448.100 |
2210.300 |
3797.600 |
|
b) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
1325.200 |
(1290.800) |
440.400 |
|
c) Excise duty on sale of goods |
-- |
-- |
53.900 |
|
d) Employee benefits
expense |
1003.700 |
1121.200 |
3281.100 |
|
e) Finance Costs |
30.500 |
58.000 |
152.700 |
|
f) Depreciation and amortisation expense |
123.300 |
145.000 |
407.500 |
|
g) Other expenses |
601.700 |
592.400 |
1777.200 |
|
Total Expenses |
3532.500 |
2836.100 |
9910.400 |
|
Profit/ (Loss) from Operations before Other
Income, Exchange gain/(loss), Finance costs and Exceptional items |
573.400 |
127.700 |
1043.200 |
|
Exceptional Items |
1227.000 |
16.600 |
1417.700 |
|
Profit /(Loss) from Ordinary activities before finance costs and
Exceptional items |
(653.600) |
111.100 |
(374.500) |
|
Tax
Expenses |
(232.300) |
45.500 |
(124.600) |
|
Net
Profit / (Loss) After Tax |
(421.300) |
65.600 |
(249.900) |
|
Other
comprehensive income |
|
|
|
|
Items that will not be
reclassified to profit or loss |
|
|
|
|
Remeasurements defined
benefit liability |
2.100 |
(4.100) |
6.200 |
|
Income tax relating to
above |
(0.700) |
1.400 |
(2.100) |
|
Other comprehensive
income/expenses, net of tax |
1.400 |
(2.700) |
4.100 |
|
Total Comprehensive income for the period |
(419.900) |
62.900 |
(245.800) |
|
Earnings Per Share (EPS) before and after extraordinary items (of Rs.
10/- each) a) Basic b) Diluted |
(6.27) (6.27) |
0.98 0.98 |
(3.72) (3.72) |
FIXED ASSETS:
·
Freehold Land
·
Leasehold Land
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicle
·
Office Equipment
PRESS RELEASE
GE POWER BAGS INR 2300.000 MILLION ORDER
FROM NTPC
As part of the contract, the company will
perform the pressure part metallurgy upgradation for three 660MW super critical
steam generators.
New Delhi: GE Power India today said it has bagged a INR 2300.000 Million order for upgrading three 660 MW super critical steam generators at Barh Stage-I project of state-run power giant NTPC.
"GE Power India Limited... has been awarded a contract worth approximately Rs 230 crores inclusive of taxes (i.e. approximately USD 35.4 million) by NTPC Limited for Barh stage -I ," GE Power India said in a statement.
As part of the contract, the company will perform the pressure part metallurgy upgradation for three 660 MW super critical steam generators.
The upgradation scope includes primary super heater, convection super heater and low-pressure re-heater. This will help NTPC to commission the 3x660MW plant which was started 12 years ago, it added. KKS ABM ABM
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.13 |
|
|
1 |
INR 91.96 |
|
Euro |
1 |
INR 80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
YES |
|
--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.