Bank Lending, Retail & MSME Assignment 1

On

Tarini International Ltd

Submitted to- Dr. Jaideep Jadhav

Submitted by- Ragini Verma

Rollno.-20BFS34
PRN-1062201662
 TARINI INTERNATIONAL LTD

ABOUT THE COMPANY-

Tarini International Ltd. is a Company joined in the year 1999 as a "Private
Limited Company" and later changed to "Restricted Company" in the year 2011
with a worldwide vision, general allure and an enthusiasm for arriving at far off
skyline. Being the parent Company to Tarini Group, it has the specialty ability
in conveying far reaching and altered arrangements in the field of Hydro Power,
Transmission and Distribution Projects. It gives a sweeping exhibit of
administrations including conceptualization, planning, designing and
dispatching on trunk basis.Tarini additionally gives specialized consultancy
administration and gets tasks of setting up the Feasibility Reports/Detailed
Projects Report for imminent Projects(s). The organization gives specialized
consultancy close by the outlining of the Detailed Project Reports (DPRs) and
itemized planning and designing for little hydro projects with limits and
designing for little hydro projects with limits going from 5 to 100 MW, both
homegrown and global.
Tarini Group” and has emerged as one of the leading Group Companies mainly
involved in hydro consultancy , hydro power generators,hydro power turbines,
hydro projects in africa, hydro projects in india. Development of small and
medium hydro power projects, high voltage electricity transmission and
distribution (T&D) works on turn key basis ( including concept, design,
engineering, erection and commissioning) and technical consultancy services in
related areas.
The Group is in its nascence and is hitherto engaged in prospecting for new
projects and securing allotments through competitive bids worldwide in which it
has been quite successful. The aggregate value of the domestic hydro projects
for which allotments are in place amounts to Rs 300 crores and that of other
prospective projects globally in the pipeline would be about USD 250 million.
The group has worked out equity tie-ups with financially sound investors in
respect of each project. The respective project companies in whose names the
projects stand allotted shall be taking up the implementation of these hydro
projects in a phased manner.
BACKGROUND OF PROMOTERS-

Mr. V.Chandrashekhar – Managing Director


o Promoter of the Company
o Started TIL in 1999 as a Private Limited Company which
culminated into  over 10 sister  Companies leading to the “Tarini
Group”.
o Practical Experience of more than  20 years in Power Sector
Mrs. V Anu Naidu- Whole Time Director

o Promoter of the Company
o Looks after the human resources & administrative department
Dr. Simhachalam Gedela-Independent Director

o Science  Graduate
o MBBS, MS (AIIMS), General Surgeon
o Owns his own Hospital in Vishakhapatnam and adds another
feather to our cap
Mr. Ponnu  Swami Sethu Seshan- -Independent Director

o Science  Graduate
o Advisor to Aegon Religare Insurance Company Ltd.
o Over 20 years of experience in finance
o His stint as AGM with Indian Overseas Bank & his finance
acumen, brings value addition to the Company
FINANCIAL STATEMENTS-

1. BALANCE SHEET
 financial statements that company has given the collateral guarantee for
the loan taken by its associate company directors loans advances granted
amounting to Rs. 380.39 Lakhs (as on 31/03/2021) to group companies
associated companies in which directors are interested; the company is
yet to comply within the provisions of section 186 of the Companies Act,
2013.

financial statements regarding the advance made of Rs. 59.16 Lakhs

(equivalent Euro 80,000/-) as share application money during the year
2015-16, towards acquisition of 51% shares of HPWE GmbH. Against
such payment, share has not been allotted as the company could not make
full payment.

2. PROFIT & LOSS STATEMENT-

The total revenue for the FY-2021 is Rs 20546573 which is less than the
PY 2020, with the decrease in total expenses too due to Covid-19.
 PAT is increased to Rs 4815467 in FY 2021 and the NET PROFIT also
increases for the year 2021 that is Rs 3143543.

3. CASH FLOW STATEMENT-

Total cash and cash equivalents for the year 2021 is Rs 3175457 which
shows a substantial increase from the PY 2020. It also shows a increase in
Operating profit , it shows that the sales for the year 2021 has been
increased along with managing the costs.
4. SERVICES PROVIDED BY THE COMPANY-

 Consultancy

 Design and Engineering

 Generation

 Hydro Power

 Transmission and Distribution

 Turn key solution

 EPCC-M

 O&M

 PROJECTS –

Durgadalli Hydro Project

3.5 MW Durgadalli Small Hydro Power Project – Karnataka

The Project is proposed to be developed as a run of the river scheme
envisages utilization of the waters from Durgadalli Nalla. The Project is
located near Village Charmadi, South Kannada, Distt. Karnataka.
After carrying out detailed survey and investigations, a Detailed Project
Report is prepared based on the detailed studies of the Project layout,
availability of head and discharge data. A 30 m long, raised crest type
diversion weir is proposed across Durgadalli Nallah with 950 m long
water conductor system from Intake to forebay to feed 2 No. generating
 units of 1.7 MW each through 450 m long buried penstock of 1.25 m dia.
The Power generated will be evacuated through 33/11 kV Transmission
Line to connect state owned SubStation at Beltangdi, Kartanaka.
The proposal for diversion of the forest land required for placing of
Project components has been submitted to the concerned forest Dept.,
Mangalore.

The Project Daman Ganga SHP–I

The Project “Daman Ganga SHP – I is located 30 kms away from Vapi in
Distt Valsad, Gujarat and envisages uitilisation of water from the reservoir of
the Madhuban Dam built across river Daman Ganga with total catchment
area of approx. 1300 sqkm shared by Maharashtra, Gujarat and Dadra &
Nagar Haveli (UT). The capacity of the Project is
3 MW (1.5 MW X 2 Units).
Two openings have been provided in the body of
the Dam which have been further connected with
the main Power House Building through 2 nos.
Steel Penstocks with 1.5 M dia , 12 mm thick and
9.5 M long coupled with Butter Fly Valves of 1.6
m dia. The Power House Building (22.5 m x 10
m ) is a unique structure of about 24 m height
from the deepest foundation level, fully compact
and water tight, designed as to submerge in the
water during high flood levels. The approach to the Power House is from the
top (EL. 61.26 m) and descends at Generator Floor Level at (EL. 44.5 m)
housing 2 Generating Units (Vertical Kaplan) of 1.5 MW each (Austrian
make) attached with compatible Hydro Generator from France and linked
with state of the art Control Pannels procured locally through reputed
manufacturers . To facilitate handling of equipment, 1 no. EOT of 20 tons
capacity has been provided at the top of the Power House. The top is fully
covered with specially designed remote Sliding Roof .
The functioning of the generating units is controlled by the Digital Turbine
Control (DTC) and the complete Project can be monitored through
sophisticated Digital Control System (DCS) at merely a click of the button,
anywhere in the world through designated global positioning link.
The metering system and relays are installed inside a common Sub / Control
Station at a short distance of 500 mtrs from the Power House and the power
produced is stepped up at 3.3 / 66 kV Switch yard and will further be
evacuated through dedicated 66 kV ( 23.5 kms) Double Circuit Transmission
Line laid by the Company till receiving Sub Station at Mota Panda – Govt.
of Gujarat.
The debt. funded by the Bank of India, Chennai Corporate Banking Branch,
Chennai, the prestigious project has recently been commissioned and the
Power being generated is being supplied to the state grid of Gujarat.

Zimbabwe T&D

Rural Electrification Project – Zimbabwe

The Zimbabwe Electricity Supply Authority (ZESA) invited bids under
International Competitive Bids (ICB) for turnkey execution of 132 kV single
circuit Transmission line in various packages under expanded rural
electrification programme by Govt. of Zimbabwe.
The awarded scope includes tower designs and fabrication including supply
of steel tower structures, excavation of tower foundations, setting of stubs,
erection and stringing of towers using ACSR conductor and associated
accessories.
The Project is funded by Govt. of Zimbabwe and will commence
construction works leading to disbursement of mobilization advance.
The value of the Project is estimated at USD 20 min.
Saikothi Hydro Project

15 MW Saikothi Small Hydro Power Project –

Himachal Pradesh
Saikothi Project is conceived as a run of the river scheme across Baira
Nallah, a tributary of river Ravi, located at a distance of 70 kms from
Chamba and 130 kms from Pathankot (Rail end) in Distt Chamba, Himachal
Pradesh.
The Project envisages construction
of 12 m high gated Barrage at the
confluence of two Nallahs (Malin &
Baira), an open Desilting Tank and
2.5 kms long, 3.5 m dia Horseshoe
shaped Head Race Tunnel which
will feed through 270 m long
penstock, three generating units of 6
MW, 6 MW and 3 MW proposed to
be installed in the surface Power
House proposed at village Shalli, about 900 mtrs down from the main road.
The power generated will be evacuated through 66 kV Transmission Line at
nearest Substation at 4 kms and will further be evacuated through 132 kV
integrated system at receiving Sub Station at 43 kms.
The Site Office has been set up and the site clearance activity is under
progress. The preliminary construction work will begin immediately upon
grant of approvals from the competent authorities – Govt. of Himachal
Pradesh.

The Project Daman Ganga SHP–I

The Project “Daman Ganga SHP – I is located 30 kms away from Vapi in
Distt Valsad, Gujarat and envisages uitilisation of water from the reservoir of
the Madhuban Dam built across river Daman Ganga with total catchment
area of approx. 1300 sqkm shared by Maharashtra, Gujarat and Dadra &
Nagar Haveli (UT). The capacity of the Project is 3 MW (1.5 MW X 2
Units).
Two openings have been provided in
the body of the Dam which have
been further connected with the
main Power House Building through
2 nos. Steel Penstocks with 1.5 M
dia , 12 mm thick and 9.5 M long
coupled with Butter Fly Valves of
1.6 m dia. The Power House
Building (22.5 m x 10 m ) is a
unique structure of about 24 m height from the deepest foundation level,
fully compact and water tight, designed as to submerge in the water during
high flood levels. The approach to the Power House is from the top (EL.
61.26 m) and descends at Generator Floor Level at (EL. 44.5 m) housing 2
Generating Units (Vertical Kaplan) of 1.5 MW each (Austrian make)
attached with compatible Hydro Generator from France and linked with state
of the art Control Pannels procured locally through reputed manufacturers .
To facilitate handling of equipment, 1 no. EOT of 20 tons capacity has been
provided at the top of the Power House. The top is fully covered with
specially designed remote Sliding Roof .
The functioning of the generating units is controlled by the Digital Turbine
Control (DTC) and the complete Project can be monitored through
sophisticated Digital Control System (DCS) at merely a click of the button,
anywhere in the world through designated global positioning link.
The metering system and relays are installed inside a common Sub / Control
Station at a short distance of 500 mtrs from the Power House and the power
produced is stepped up at 3.3 / 66 kV Switch yard and will further be
evacuated through dedicated 66 kV ( 23.5 kms) Double Circuit Transmission
Line laid by the Company till receiving Sub Station at Mota Panda – Govt.
of Gujarat.
The debt. funded by the Bank of India, Chennai Corporate Banking Branch,
Chennai, the prestigious project has recently been commissioned and the
Power being generated is being supplied to the state grid of Gujarat.

The Project Daman Ganga SHP–I

The Project “Daman Ganga SHP – I
is located 30 kms away from Vapi in
Distt Valsad, Gujarat and envisages
uitilisation of water from the
reservoir of the Madhuban Dam
built across river Daman Ganga with
total Catchment area of approx.
1300 sqkm shared by Maharashtra,
Gujarat and Dadra & Nagar Haveli
(UT). The Project is Power (Tarini)
cum Irrigation scheme (Govt. of Gujarat) with capacity of 2.6 MW.
The water discharged through the Irrigation Canal is being utilized to feed a
Generating Unit connected through single, bifurcated Steel Penstock of 2.5
M dia , 12 mm thick, 74 m long from the Dam duct with Butter Fly Valve of
2.6 m dia. The additional Butter Fly Valve of the same specification is
provided at the mouth of the bifurcated Penstock for release of water in the
canal during maintenance period. The Project has been such designed that
the water released through the Gated Tail Pool will be diverted back to the
main Irrigation canal.
The Power House Building (14.5 X 11.7 ) houses single (Vertical Kaplan) of
2.6 MW capacity (Austria) compatible Hydro Generator from France and
linked with state of the art Control Pannels procured locally through reputed
manufacturers . The functioning of
the generating units is controlled by
the Digital Turbine Control (DTC)
and the complete Project can be
monitored through sophisticated
Digital Control System (DCS) at
merely a click of the button,
anywhere in the world through
designated global positioning link.
To facilitate handling of equipment,
an EOT of 15 tons capacity has been provided at the top of the Power House.
The metering system and relays are installed inside a common Sub / Control
Station at a short distance of 500 mtrs from the Power House.
The power produced is stepped up at 3.3 / 66 kV Switch yard and will
further be evacuated through dedicated 66 kV ( 23.5 kms) Double Circuit
Transmission Line laid by the Company till receiving Sub Station Mota
Panda – Govt. of Gujarat.
The debt. funded by the Bank of India, Chennai Corporate Banking Branch,
Chennai, the Project is ready for commission as certain clearances are
awaited from the state Govt. end. The Power being generated is being
supplied to the state grid of Gujarat.

5. LOANS-

On 2014 Tarini International Ltd took a loan, retail loan in order to

facilitate the IPO or before the IPO of the company from HIND ISPAT.
The objectives of the IPO in the prospectus were for meeting long-term
working capital requirements and renovation of the registered office,
among others. However, the firm did not utilise the proceeds for the
mentioned objectives and diverted the funds to the group companies.

The regulator carried out investigation between June 2014 and August
2014 into the IPO of equity shares issued by Tarini International and its
subsequent activities related to the trading of shares.

Hence, SEBI imposed total fine of Rs 12.05 cr on Tarini International

 Ltd and its officials for utilising the initial public offering (IPO) proceeds
for purposes other than stated in the prospectus.

Of the total fine levied by Sebi, Rs 5.05 crore have been imposed on the
firm, while its managing director Vakamulla Chandra Shekhar and
whole-time director Vakamulla Anu Naidu face a fine of Rs 5 crore each
for violating various market norms.

At current total retail loan corporate loans and other loan includes the
amount Rs 15.46 cr in the year 2021.

6. MARKET PRICE ANALYSIS-

Tarini International Ltd. was incorporated in the year 1999. Its today's
share price is 16.2. Its current market capitalisation stands at Rs 21.06 Cr.
In the latest quarter, company has reported Gross Sales of Rs. 3.6 Cr and
Total Income of Rs.24.32 Cr.