|
|
|
MIRA INFORM REPORT
|
Report No. : |
507967 |
|
Report Date : |
12.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARVOS ENERGY INDIA PRIVATE LIMITED (w.e.f. 17.10.2016) |
|
|
|
|
Formerly Known
As : |
OAK ENERGY INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Advant IT Park, Unit No. -BC-11 and 12, Tower
"A", Plot #7, Sector-142, Noida Gautam Buddha Nagar – 201305, Uttar
Pradesh |
|
Tel. No.: |
91-120-2459701/2459706 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
20.03.2014 |
|
|
|
|
Com. Reg. No.: |
20-063490 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 635.385 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900UP2014FTC063490 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
09AACCO0035E1ZX |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCO0035E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the business of manufacture of Air Preheaters, Gas to Gas
Heaters and Grinding Mills business. [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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 970000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2014. For the financial year 2017, the company has achieved revenue growth
of 10.11% as compared to the previous year along with operational loss. The moderate financial risk profile of the company is marked by negative
reserve base due to continuous loss. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 12.05.2018
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 (91-120-2459701/2459706)
LOCATIONS
|
Registered Office : |
Advant IT Park, Unit No. -BC-11 and 12, Tower
"A", Plot #7, Sector-142, Noida Gautam Buddha Nagar – 201305, Uttar
Pradesh, India |
|
Tel. No.: |
91-120-2459701-706 |
|
Fax No.: |
91-120-2459850 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Heinrich Ludger Maria Heuberg |
|
Designation : |
Director |
|
Address : |
Koernerstrasse 52 Offenbach 63067, Germany |
|
Date of Birth/Age : |
30.11.1958 |
|
Qualification: |
Post Graduate |
|
Date of Appointment : |
18.12.2015 |
|
DIN No.: |
02581163 |
|
|
|
|
Name : |
Mr. Pankaj Chopra |
|
Designation : |
Director |
|
Address : |
11121, ATS Green Paradiso, G H-3, Chai-4, Gautam Budh
Nagar, Greater Noida 201306, Uttar Pradesh, India |
|
Date of Birth/Age : |
12.04.1968 |
|
Qualification: |
CA |
|
Date of Appointment : |
20.03.2014 |
|
DIN No.: |
06822557 |
KEY EXECUTIVES
|
Name : |
Sendil Kumar |
|
Designation : |
Company Secretary |
|
Address : |
No. 17/9, Odai Street, Suguna Colony, Chrompet, Chennai -
600044 TN IN |
|
Date of Appointment : |
24.10.2016 |
|
PAN No.: |
BXQPS5782M |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
|
Arvos Holding Netherlands B.V, Netherlands |
|
63538493 |
|
Pankaj chopra |
|
10 |
|
Total |
|
63538503 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
0.00001574 |
|
Promoters- Body corporate |
99.99998426 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacture of Air
Preheaters, Gas to Gas Heaters and Grinding Mills business. [Registered Activity] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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||||||||||||||||||||||
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No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
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||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Gurugram, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
|
|
|
|
|
Ultimate Holding
Company: |
|
|
|
|
|
Associate Company: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65000000 |
Equity Shares |
INR 10/- each |
INR 650.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
63538503 |
Equity Shares |
INR 10/- each |
INR 635.385 Million |
|
|
|
|
|
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 |
635.385 |
635.385 |
635.385 |
|
(b) Reserves and Surplus |
(296.253) |
(201.509) |
(27.954) |
|
(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) |
339.132 |
433.876 |
607.431 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
388.619 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
21.214 |
23.366 |
|
(c) Other long-term
liabilities |
0.805 |
0.000 |
0.000 |
|
(d) long-term
provisions |
7.476 |
26.136 |
32.963 |
|
Total Non-current
Liabilities (3) |
396.900 |
47.350 |
56.329 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
37.534 |
0.000 |
|
(b) Trade
payables |
150.152 |
222.779 |
126.347 |
|
(c) Other
current liabilities |
146.169 |
99.718 |
217.029 |
|
(d) Short-term
provisions |
19.362 |
16.333 |
0.303 |
|
Total Current
Liabilities (4) |
315.683 |
376.364 |
343.679 |
|
|
|
|
|
|
TOTAL |
1051.715 |
857.590 |
1007.439 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
56.529 |
81.597 |
48.166 |
|
(ii)
Intangible Assets |
243.824 |
340.138 |
437.262 |
|
(iii) Tangible assets
capital work-in-progress |
2.692 |
0.000 |
2.935 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
46.618 |
4.256 |
0.544 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
5.456 |
|
Total Non-Current
Assets |
349.663 |
425.991 |
494.363 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
45.850 |
79.413 |
57.852 |
|
(c) Trade
receivables |
206.955 |
190.633 |
71.375 |
|
(d) Cash and
bank balances |
385.476 |
11.299 |
167.586 |
|
(e)
Short-term loans and advances |
49.502 |
112.325 |
58.763 |
|
(f) Other
current assets |
14.269 |
37.929 |
157.500 |
|
Total
Current Assets |
702.052 |
431.599 |
513.076 |
|
|
|
|
|
|
TOTAL |
1051.715 |
857.590 |
1007.439 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
585.268 |
531.522 |
274.160 |
|
|
Other Income |
43.343 |
8.564 |
1.646 |
|
|
TOTAL |
628.611 |
540.086 |
275.806 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
114.846 |
214.828 |
173.303 |
|
|
Purchases of
Stock-in-Trade |
179.783 |
138.022 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
37.339 |
1.609 |
0.000 |
|
|
Employee benefit expense |
92.098 |
88.901 |
38.043 |
|
|
Other expenses |
192.662 |
159.877 |
53.199 |
|
|
TOTAL |
616.728 |
603.237 |
264.545 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
11.883 |
(63.151) |
11.261 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.092 |
1.922 |
1.020 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.791 |
(65.073) |
10.241 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
123.750 |
110.634 |
53.996 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(115.959) |
(175.707) |
(43.755) |
|
|
|
|
|
|
|
Less |
TAX |
(21.214) |
(2.153) |
23.366 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(94.745) |
(173.554) |
(67.121) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
(240.675) |
(67.121) |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(335.420) |
(240.675) |
(67.121) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
0.000 |
|
|
Other
Earning |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
28.820 |
26.195 |
NA |
|
|
TOTAL IMPORTS |
28.820 |
26.195 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(1.491) |
(2.731) |
(1.056) |
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 |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
88.369 |
(157.394) |
2.975 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
86.935 |
(162.684) |
0.784 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
129.07 |
130.91 |
95.02 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.83 |
2.79 |
3.84 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
186.02 |
230.45 |
266.10 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.26 |
(0.80) |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.04 |
(0.15) |
0.02 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.44 |
0.34 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.15 |
0.09 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.93 |
0.87 |
0.57 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.89 |
0.97 |
0.80 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.90 |
(32.86) |
11.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(16.19) |
(32.65) |
(24.48) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(9.01) |
(20.24) |
(6.66) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(27.94) |
(40.00) |
(11.05) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.22 |
1.15 |
1.49 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.08 |
0.94 |
1.32 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.51 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.61 |
0.06 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.22 |
1.15 |
1.49 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
635.385 |
635.385 |
635.385 |
|
Reserves & Surplus |
(27.954) |
(201.509) |
(296.253) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
607.431 |
433.876 |
339.132 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
388.619 |
|
Short term borrowings |
0.000 |
37.534 |
0.000 |
|
Total
borrowings |
0.000 |
37.534 |
388.619 |
|
Debt/Equity
ratio |
0.000 |
0.087 |
1.146 |
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 |
274.160 |
531.522 |
585.268 |
|
|
|
93.873 |
10.112 |
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 |
274.160 |
531.522 |
585.268 |
|
Profit/ (Loss) |
(67.121) |
(173.554) |
(94.745) |
|
|
(24.48
%) |
(32.65
%) |
(16.19
%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
No |
|
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 private company domiciled in India and incorporated under the Companies Act 2013, on 20th March, 2014. The company is engaged in the business of manufacture of Air Preheaters, Gas to Gas Heaters and Grinding Mills business.
During the year Company changed its name from “OAK Energy India Private Limited” to “Arvos Energy India Private Limited.
REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS:
OPERATIONS:
The Company was
incorporated on 20th March 2014 and the current accounting period is from 1st
April 2016 to 31stMarch 2017.
FUTURE PROSPECTS:
India’s GDP is
poised to grow at 7% and to meet the ambitious infrastructure growth, power
sector would continue to grow commensurately.
Though there has
been an increasing trend towards renewable energy, still fossil fuel would
continue to be an important part of overall India’s fuel mix given the
socioeconomic and political considerations.
Their company has
geared up in the last three year of operations, and scaled-up its operations
and offerings in the Indian market.
Redefining the
growth levers of the LJU divisions as a part of corporate strategy enabled
their company to penetrate the market further and they bagged the single
largest New Equipment order of over 1.38 Billion from Doosan India. In this
order they shall be supplying 8 APHs and 4 GGHs for Obra C and Jawaharpur power
projects. Besides being a repeat order from the same customer, this would
provide us the opportunity to supply their latest heating elements technology
(DN8 for air preheaters and DNF Plus for GGHs). Additionally, through these
orders, they will get established as a leading player in the GGH market
segment.
Their company also
bagged the first After Market order from BHEL for Heating Elements baskets and
spare parts valued at 542.000 Million.
The ordering of
new coal-based thermal power plants is expected to reduce from earlier 8-10 GW
per annum to around 4 -6 GW per annum for the next two years. However, the
RandM and aftermarket opportunities are expected to increase.
NTPC’s decision to
go ahead with Wet Stack technology has reduced the demand for GGHs in the
Indian market. To address this market segment they have stepped up their
marketing efforts to strategically position AdvX as the cost-efficient
technology to address the emission reduction requirements of the utilities.
They have enhanced
their manufacturing capacity and capabilities to address the growth and are
adding state of the art SRx technology. The new element line is being imported
from USA and they shall be moving to a newly constructed factory at Mahindra
World City in Chennai in the month of December 2017.
The steel industry
has seen an upwards trend with the imposition of ‘Minimum Import Price’ and
‘Anti-Dumping Duty’ by Govt. of India in order to provide a level playing field
to domestic steel producers. The increased steel demand in Q1 and Q2 of FY
17-18 along with the future potential as a result of infrastructure projects
announced by the Government of India has given the confidence to few domestic
steel producers to go ahead with their expansion plans which shall provide RBS
division with new opportunities.
In cement sector,
the capacity addition has been at a CAGR of 4.4% between FY 10-11 and FY 15-16.
Pace of capacity addition in the next few years is expected to be lower as
compared to previous years, as already there is excess capacity in the
industry. Demonetisation, followed by the new tax regime of GST has impacted
the surge in cement demand for the short term duration, however the outlook of
the sector remains positive for future expansions in view of announced housing
and infrastructure projects in the medium to long term.
With continued
efforts in the Rest of Asia region particularly Indonesia, RBS India has
succeeded in securing both new equipment and aftermarket orders in FY 16-17
with repeat orders expected in FY 17-18.
With the new
avenues being explored in the overseas market coupled with a focus on cost
competitive sourcing, the RBS division is foreseen to secure success both in
domestic and international market in the forthcoming years.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM BORROWING |
|
|
|
Intercorporate borrowings |
388.619 |
0.000 |
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
0.000 |
37.534 |
|
Total |
388.619 |
37.534 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G59494690 |
100130442 |
STANDARD CHARTERED
BANK |
30/10/2017 |
- |
70000000.0 |
CREDIT RISK
CONTROLNARAIN MANZIL, 23 BARAKHAMBA ROADNEW DELHIDL110001IN |
|
2 |
G61818407 |
100118605 |
STANDARD CHARTERED
BANK |
22/08/2017 |
15/11/2017 |
35000000.0 |
CREDIT RISK
CONTROLNARAIN MANZIL, 23 BARAKHAMBA ROADNEW DELHIDL110001IN |
FIXED ASSETS:
Tangible assets
- Plant and equipment
- Emission reduction equipment
- Furniture and fixtures
- Office equipment
- Leasehold improvements
Intangible assets
- Goodwill
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.22 |
|
|
1 |
INR 90.88 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
ARC |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.