MIRA
INFORM REPORT
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Report Date : |
06.07.2007 |
IDENTIFICATION DETAILS
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Name : |
OSRAM INDIA PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
22.11.1993 |
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Com. Reg. No.: |
05-34712 |
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CIN No.: [Company
Identification No.] |
U31501HR1993PTC034712 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKO00409D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturing of lighting lamps, bulbs and fluorescent
tubes and fittings. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
USD 1400000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track. Company’s
profitability is under severe pressure. It has some accumulated losses.
Payments are reported as slow but correct. The company can be considered normal for small business dealings at
usual trade terms and conditions, with slight caution initially. |
LOCATIONS
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Registered Office / Factory : |
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Tel. No.: |
91-130-2233387 / 2218105 - 10 |
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Fax No.: |
91-130-2218101 / 2233387 |
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E-Mail : |
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Website : |
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Head Office : |
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Tel. No.: |
91-124-5081581 |
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Fax No.: |
91-124-5081577 |
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E-Mail : |
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Regional Office : |
Located at :
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Distribution
Centers : |
Located at :
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DIRECTORS
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Name : |
Mr. Martin Goetzeler |
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Designation : |
Director |
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Address : |
Markgrafenstr, 49, 81827, |
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Date of Birth/Age : |
11.05.1962 |
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Date of Appointment : |
23.06.2005 |
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Name : |
Dr. Thomas Seeberg |
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Designation : |
Director |
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Address : |
Eichendorffwog, 82057, |
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Date of Birth/Age : |
20.01.1942 |
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Date of Appointment : |
21.12.1998 |
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Name : |
Mr. Gagan Mehra |
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Designation : |
Director |
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Address : |
J-603, Som Vihar Apartments, R. K. Puram, |
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Date of Birth/Age : |
01.11.1958 |
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Date of Appointment : |
01.11.2001 |
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Name : |
Mr. Datta Gautam |
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Designation : |
Director |
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Address : |
W – 178, Regency Park II, DLF IV, Gurgaon – 121002, |
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Date of Birth/Age : |
27.09.1958 |
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Date of Appointment : |
13.03.2006 |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
Flat No. B 101, |
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Date of Birth/Age : |
07.10.1964 |
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Date of Appointment : |
03.11.1999 |
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Name : |
Mr. Johannes Naerger |
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Designation : |
Director |
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Address : |
Hyndingstrasse, 3, |
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Date of Birth/Age : |
18.08.1960 |
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Date of Appointment : |
13.03.2006 |
KEY EXECUTIVES
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Name : |
Mr. Nitin Mittal |
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Designation : |
Company Secretary |
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Address : |
941, Sector 15, Part 2, Gurgaon – 122001, |
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Date of Birth/Age : |
16.07.1977 |
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Date of Appointment : |
08.12.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Osram GmbH |
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6900499 |
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Osram Light Consultation GmbH |
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1 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Bodies corporate |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of lighting lamps, bulbs and fluorescent
tubes and fittings. |
GENERAL INFORMATION
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Bankers : |
Ř
Standard Chartard Grindlays Bank
Limited Ř
State Bank of Gurgaon, Haryana |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vikram Advani Chartered Accountants |
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Address : |
4 B, DLF Corporate Park, DLF City, Phase – III, Gurgaon – 122002,
Haryana, India |
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Collaborators : |
Ř
Osram GmbH, 1-Hellabrunner Strab 8156
Ř
Osram Lighting Consulting GmbH |
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Associates/Subsidiaries : |
Osram Surya Private Limited Gurgaon, Haryana |
CAPITAL STRUCTURE
As on 30.12.2006
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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115,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1150.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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69033100 |
Equity Shares |
Rs. 10/- each |
Rs. 690.331
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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690.050 |
690.050 |
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2] Share Application Money |
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0.281 |
0.281 |
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3] Reserves & Surplus |
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0.260 |
0.000 |
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4] (Accumulated Losses) |
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[338.371] |
[331.321] |
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NETWORTH |
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352.220 |
359.010 |
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LOAN FUNDS |
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1] Secured Loans |
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24.592 |
8.277 |
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2] Unsecured Loans |
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275.000 |
320.000 |
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TOTAL BORROWING |
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299.592 |
328.277 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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651.812 |
687.287 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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362.363 |
373.337 |
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Capital work-in-progress |
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48.762 |
7.986 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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345.275 |
282.430 |
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Sundry Debtors |
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433.163 |
377.444 |
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Cash & Bank Balances |
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3.577 |
4.986 |
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Loans & Advances |
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77.396 |
45.172 |
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Total
Current Assets |
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859.411 |
710.032 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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551.584 |
348.011 |
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Provisions |
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67.140 |
56.057 |
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Total
Current Liabilities |
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618.724 |
404.068 |
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Net Current Assets |
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240.687 |
305.964 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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651.812 |
687.287 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover [Estimated] |
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900.000 |
1000.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.61 |
2.04 |
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Current Ratio (Current Asset/Current Liability) |
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1.39 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
Company has been shifted
from
Company profile of OSRAM India
OSRAM India is a young and vibrant company and started its operations in
Within one year of OSRAM entering
The company - OSRAM India
OSRAM India is one of the leading lamp manufacturers in the country. Light from
OSRAM shines in all the 32 States and
Currently OSRAM India has 1,200 employees and sales of over Rs. 1 billion. The
company is a pioneer of innovative products in General Lighting, Automotive
Lighting, Photo Optics and Electronic Control Gear.
OSRAM India popularized state of the art products which are highly energy
efficient, such as:
- Compact
Fluorescent Lamps (DULUX)
- Tri-Phosphor
Slim Fluorescent Lumilux Plus Lamps
- Low Voltage
Halogen Lamps (Decostar)
- Metal Halide
Lamps (HQI)
- high efficacy
High Pressure Sodium Vapour Lamps (NAV Super)
- Reliable and
long lasting Electronic Control Gear with high power factor and low line
harmonics.
The OSRAM range has more than 5000 types of lamps,
tailor-made for the specific requirements and applications.
Product offerings from OSRAM India
OSRAM India are in a position to supply all products listed in the E-Catalogue with major focus on:- Incandescent
GLS Lamps both in screw type E 27 and B22d caps
- Low Voltage
and Mains Voltage Halogen Lamps
- A wide
variety of Fluorescent Lamps including the latest generation of
Tri-Phosphor Lumilux Plus Lamps.
- The widest
range of Compact Fluorescent Lamps, in particular, the retrofit Dulux EL
which meets the Indian conditions of wide fluctuations in voltage, high
ambient temperature and high humidity.
- HID Lamps
including high pressure Mercury Vapour Lamps (HQL), Blended lamps (HWL),
High Pressure Sodium Vapour Lamps (NAV), Metal Halide Lamps (HQI) and
other high discharge lamps for special applications.
- Widest range
of Automotive Lamps for 4 Wheelers, 3 Wheelers and 2 Wheelers.
- Complete
range of Photo-Optic Lamps to meet the requirements of studio and stage
lighting, video application, projectors, medical & surgical,
scientific & industrial applications.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.46 |
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1 |
Rs.81.29 |
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Euro |
1 |
Rs.54.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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32 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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