MIRA
INFORM REPORT
|
Report Date : |
29.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VIDEOCON INDIA LIMITED |
|
|
|
|
Registered Office : |
Auto Cars Compound, Adalat Road, Aurangabad – 431 005, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
23.05.2007 |
|
|
|
|
Com. Reg. No.: |
171109 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31908MH2007PLC171109 |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business : |
Manufacturer of Color Picture Tube (CPT) |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Videocon is a diversified multi-national industrial house having
satisfactory track. It’s trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
DIRECTORS
|
Name : |
Mr. Venugopal Nandlal Dhoot |
|
Designation : |
Chairman and Managing Director in Videocon Group |
|
Office Address : |
Fort House, 2nd Floor, 221, Dr. D N Road, Mumbai – 400 001,
Maharashtra, India |
|
Tel No.: |
91-22-66113500 |
|
Fax No.: |
91-22-66551985 |
|
Email : |
|
|
Date of Birth/Age : |
30.09.1951 |
|
Qualification : |
B.E. (Electricals), FIE. Schooling at Firodiya High School, Ahmednagar College, Pune
Engineering College, Pune |
|
Other Achievements : |
a.
President – Electronic Industries Association of Marathwada b.
Member of Advisory Committee of “Poona University Information
Employment c.
Adviser to Govt. of Orissa for Industrial Development of Orissa d.
Younger brother Shri Rajkumar Dhoot Member of Parliament |
|
|
|
|
Name : |
Mr. Pradeepkumar N Dhoot |
|
Designation : |
Director |
|
Address : |
101, Videocon House, 1st Floor, 99 Manav Mandir Road,
Napeansea Road, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
22.03.1960 |
|
|
|
|
Name : |
Mr. K C Srivastava |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Kuldeep Kumar Drabu |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Satyapal Talwar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S Padmanabhan |
|
Designation : |
Director |
|
|
|
|
Name : |
Maj. Gen. S C N Jatar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Arun L Bongirwar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Didier Trutt (Nominee Thomson S.A) |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Johan G Fant (Nominee – AB Electrolux (Publ) |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. B Ravindranath (Nominee – IDBI Limited) |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ajay Saraf (Nominee ICICI Bank Limited) |
|
Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 10.05.2007)
|
Names of Shareholders |
No. of Shares |
|
Pradeepkumar N Dhoot |
22500 |
|
Venugopal Nandlal Dhoot |
1000 |
|
Rajkumar Nandlal Dhoot |
1000 |
|
Saurabh Pradipkumar Dhoot |
1000 |
|
Anirudh Venugopal Dhoot |
1000 |
|
Kesarbai Nandlal Dhoot |
22500 |
|
Rama Venugopal Dhoot |
1000 |
|
|
|
|
Total |
50000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Color Picture Tube (CPT) |
|
|
|
|
Products : |
Consumer
Electronics ·
Plasma TV ·
LCD TV ·
34” TV ·
Slim TV ·
Sound Station ·
Flat TV ·
Conventional TV ·
DVD ·
Multimedia Speakers Home Appliances ·
Frost Free Refrigerators ·
Direct Cool Refrigerators ·
Side By Side Refrigerators ·
Fully Automatic Washing Machines ·
Semi Automatic Washing Machines ·
Microwave Ovens ·
Window AC ·
Split AC ·
Cassette AC ·
Tower AC |
GENERAL
INFORMATION
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Not Available |
|
|
|
|
Group Companies : |
·
Videocon International
Limited ·
Videocon Applainces
Limited CIN No.: U99999MH1988PTC046445 ·
Videocon Communications
Limited ·
Applicomp (India) Limited CIN No.: U29302MH1996PTC104800 ·
Indian Refrigerator Co.
Ltd CIN No.: U29191MH2001PTC131185 ·
Kitchen Appliances India
Ltd ·
Millennium Appliances
India Ltd CIN No.: U29308PN1999PTC014301 ·
Videocon Narmada Glass ·
Videocon
Industries Limited CIN No.: L99999MH1996PTC103624 ·
Trend
Electronics Limited CIN No.: U99999MH1989PTC052233 ·
Akai Consumer
Electronics India Limited CIN No.: U29305DL1999PLC100556 ·
Videocon
Power Limited CIN No.: U40100MH2000PTC128291 ·
Videocon
VCR Securities Limited CIN No.: U67120MH2001PTC133952 ·
Next Retail
India Limited CIN No.: U51395MH2003PLC143371 ·
Sky
Appliances Limited CIN No.: U29300MH2004PTC147217 ·
Videocon
Realty and Infrastructures Limited cn CIN No.: U45102MH2001PTC133954 ·
Videocon
Sez Infrastructures Limited CIN No.: U45201MH2006PLC166382 ·
Videocon Realty
Limited CIN No.: U45200MH2007PLC166977 ·
Smarlee
Properties and Investments Private Limited CIN No.: U70102MH1994PTC167828 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
As the subject is a new company in the group,
no financials are yet available.
LOCAL AGENCY
FURTHER INFORMATION
Web Details
History
1987
·
Color and B/W TV
·
Washing Machines
1998-1990
·
Home Entertainment Systems
·
Electric Motors
·
AC
1991
·
Refrigerators
·
Coolers
1995
·
Glass shells for CRT
1996
·
Kitchen Appliances
·
Crude Oil
1998
·
Compressors
·
Compressors Motors
2000
·
Philips Color TV Plant Takeover
2005
·
Electrolux India 3 plants Takeover
·
Thomson CPT Acquisition
Business
The Videocon group emerges as a USD 2.5 Billion global conglomerate
continuing to set trends in every sphere of its activities from a conference
room sized assembly line in 1979.
Today the group operates through 4 key
sectors:
·
Consumer Durables
·
Thomson CPT
·
CRT Glass
·
Oil & Gas
Consumer Electronics, Home
Appliances and Compressor manufacturing in India
They enjoy a pre-eminent position in terms of sales and customer satisfaction
in many of the consumer products like Colour Televisions, Washing Machines, Air
Conditioners, Refrigerators, Microwave ovens and many other home appliances,
selling them through a Multi-Brand strategy with the largest sales and service
network in India. Refrigerator manufacturing is further supported by our
inhouse compressor manufacturing technology in Bangalore.
Display
industry and its components
With the Thomson acquisition subject has emerged as one of the largest
Colour Picture tube manufacturers in the world operating in Mexico, Italy,
Poland and China, continuing to lead through new innovative technologies like
slim CPT, extra slim CPT and High Definition 16:9 format CPT.
Colour
Picture Tube Glass
Subject is one of the largest CPT Glass manufacturers in the world with
a high level of experience and technical expertise operating through Poland and
India. Subject will leverage on this synergy after the Thomson acquisition to
internally source glass for its CPT manufacturing increasing efficiencies and
lowering costs.
Oil
and Gas
An important asset for the group is its Ravva oil field with one of the
lowest operating costs in the world producing 50,000 barrels of oil per day.
The group has ambitious plans for expansion in this sector globally.
Brand Basket
Tie-ups with Global Leaders
|
Partner |
Product |
Nature Of Tie-Up |
|
Samsung
Electronics |
Fly Back |
Technical Support |
|
|
Transformers, Tuners |
|
|
Matsushita
Electric |
Washing Machine |
Technical * Collaboration |
|
Matsushita
Electric |
Air Conditioner |
Design & Drawing |
|
Matsushita
Electric |
Refrigerator |
Design & Drawing |
|
Sansui Electric
Company Limited |
Audio Products |
ODM for Indian Market |
|
|
and Colour TV |
|
|
Techneglas |
Glass Shell |
Technical Collaboration |
|
Akai |
Audio Products |
ODM for Indian Market |
|
|
and Colour TV |
|
|
Hyundai |
Colour TV |
ODM for Indian Market |
|
Electrolux AB
Sweden |
Refrigerator, |
1.ODM & Indian Market |
|
|
Air Conditioner and |
2.Sourcing of components for Global Market |
|
|
Washing Machine |
3.ODM for Global market |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.73 |
|
UK Pound |
1 |
Rs.80.31 |
|
Euro |
1 |
Rs.64.61 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|