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Analysis of an Indian Mid cap

Analysis of an Indian Mid cap - FINANCIAL MANAGEMENT I Take...

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FINANCIAL MANAGEMENT – I Take Home Assignment Submission III Submitted By: Roll No. B11076 a/Clearly mention all the long-term debt instruments issued by your company and its peer (from their respective annual reports, etc.). Covenants/terms of the instrument could also be mentioned and commented upon. ELECON ENGINEERING LIMITED Secured Loans 1 Rs.(Lacs) A) Loans and advances from a) Working capital Loans From Banks 15839.69 b) Long Term Loans Term Loans 10,090.89 Corporate Loans 5160.00 B) HP from other banks 254.53 The long term debt instruments of Elecon Engineering Limited are as following the company has not issued any bond or debentures. The long term loans are mixture of bank loans and term loans. The details of the loan instruments are as following: i) Fund Based and Non Fund Based Working Capital Facilities [3A(a) & (b)(ii)] granted by Consortium of Banks consisting of State Bank of India (As Lead Bank), Bank of Baroda, Exim
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Bank, Axis Bank Ltd., HDFC Bank Ltd., IDBI Bank Ltd. and Standard Chartered Bank are secured by an equitable mortgage on the immovable properties and hypothecation of movable plant and machinery and assets of the Company’s Materials Handling Equipment Division and Gear Division excluding certain assets specifically/ exclusively charged to other banks/ financial institutions but including the whole of the Company’s Currents Assets, inventories, receivables and book debts ranking pari passu inter se.in respect of working capital facilities and guarantees issued by them in favour of various clients of the Company. Standard Chartered Bank was inducted in consortium on 28-09-2010 and documentation was made on 30-04-2011. ii) Term Loans [3A(b)(i)] obtained from Bank of Baroda, Exim Bank, Axis Bank Ltd., ICICI Bank Ltd., Citi Bank N.A. and Vijaya Bank is secured by exclusive charge by way of Hypothecation on specific assets for which payments were made out of the term loan. iii) Capital Assets acquired on HP Loans from Banks [3B(a)] are secured by exclusive charge on respective assets purchased Unsecured Loans 1 Rs.(Lacs) Short Term Loan 21562.29 Loan and advances from others 126.69 TRF LIMITED Secured Loans 1 Rs. (Lacs) A. From Banks i) Buyers’ Line of credit 2854.62 ii) Cash Credit Account 6633 iii) Short Term Loans 5040 iv) Long term Loans 9113 Unsecured Loans 1 Rs. (Lacs) Nil 1.
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