1. Summary Information
|
|
|
Country |
|
|
Company Name |
SIEMENS LIMITED |
Principal Name 1 |
Mr. Deepak S. Parekh |
|
Status |
Good |
Principal Name 2 |
Mr. D. C. Shroff |
|
|
|
Registration # |
11-10839 |
|
Street Address |
130, Pandurang Budhkar Marg, Worli, Mumbai – 400 018, Maharashtra,
India |
||
|
Established Date |
02.03.1957 |
SIC Code |
-- |
|
Telephone# |
91-22–24987000 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22–24987500 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Electrical Part
of Machinery or Apparatus |
|
|
# of employees |
6683 |
Product Name 2 |
Electronic
Automatic Regulators |
|
Paid up capital |
Rs.
674,320,400/- |
Product Name 3 |
X-ray Apparatus |
|
Shareholders |
Promoter Group – 55.18% Public Shareholding – 44.82 % |
Banking |
Syndicate Bank |
|
Public Limited Corp. |
Yes |
Business Period |
54 years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Aa (75) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
Germany |
Siemens
AG |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
30.09.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
64,006,865,000 |
Current Liabilities |
59,564,584,000 |
|
Inventories |
15,335,216,000 |
Long-term Liabilities |
2,410,000 |
|
Fixed Assets |
7,339,937,000 |
Other Liabilities |
-- |
|
Deferred Assets |
1,313,000,000 |
Total Liabilities |
59,566,994,000 |
|
Invest& other Assets |
6,349,764,000 |
Retained Earnings |
34,103,468,000 |
|
|
|
Net Worth |
34,777,788,000 |
|
Total Assets |
94,344,782,000 |
Total Liab. & Equity |
94,344,782,000 |
|
Total Assets (Previous Year) |
13,5733,143,000 |
|
|
|
P/L Statement as of |
30.09.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
92,706,690,000 |
Net Profit |
8,272,115 |
|
Sales(Previous yr) |
83,367,335,000 |
Net Profit(Prev.yr) |
10.448.508 |
MIRA
INFORM REPORT
|
Report Date : |
26.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
SIEMENS LIMITED |
|
|
|
|
Registered Office : |
130, Pandurang Budhkar Marg, Worli, Mumbai – 400 018, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2010 |
|
|
|
|
Date of Incorporation : |
02.03.1957 |
|
|
|
|
Com. Reg. No.: |
11-10839 |
|
|
|
|
CIN No.: [Company
Identification No.] |
L28920MH1957PLC010839 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS44080B / MUMS41513D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACS0764L |
|
|
|
|
Legal Form : |
A public limited liability company. The company's shares are listed on
Stock Exchanges. |
|
|
|
|
Line of Business : |
Manufacturer and Marketer of Switchgear Items |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 130000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
subsidiary of Siemens AG, The company can be
considered normal for business dealings at usual trade terms and conditions. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
130, Pandurang
Budhkar Marg, Worli, Mumbai - 400 018, |
|
Tel. No.: |
91-22–24987000/01/02/24931349/50 |
|
Fax No.: |
91-22–24987500/52/24941758 |
|
E-Mail : |
|
|
Website : |
|
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|
|
|
Head Office : |
Plot No.2, Sector
2, Khargar Node, Navi Mumbai-410210, Maharashtra, India |
|
Tel. No.: |
91-22-27568000 |
|
Fax No.: |
91-22-27568018 /
27568030 |
|
|
|
|
Corporate Office : |
Switchboard
Kalwa, |
|
|
|
|
Sales Office : |
3rd Floor, Prerna Arbour, Off C G Road, Girish Cold Drink Cross Road,
Navarangpura, Ahmedabad 380009, Gujarat, India Tel No.: 91-79-40207600 Fax No.: 91-79-40207699 3rd Floor, Jyoti Mahal, No. 49, Tel No.: 91-80-22042000 Fax No.: 91-80-41120435 Tel No.: 91-80-28472538 Fax No.: 91-80-28472511 SCO 189/191, Sector – 17C, Sector 34A, Guru Nanak Complex, Tel No.: 91-172-4690300 Fax No.: 91-172-4690399 Sathak Centre, No. 4, Mahatma Gandhi Road, Nungambakkam, P.O. Box 33
23, Chennai -600 034, Tamilnadu, India Tel No.: 91-44-28334000/09 Fax No.: 91-44-2833 4011 KG Oxford Business Centre, No.39/4609, 3rd floor, 3A, Tel No.: 91-484-4028622 / 11 Fax No.: 91-484-2380201 Global Towers, 7th Floor, 1057, Tel No.: 91-422-4336300 / 335 Fax No.: 91-422-4336310 Software Development and Engineering Centre, Plot 6A, Sector 18,
Maruti Industrial Area, HUDA, Gurgaon 122 015, Tel No.: 91-124-2846000 Fax No.: 91-124-2846024 5-9-19, 4th and 5th Floor, Laxmi Narasinh Estate, Tel No.: 91-40-23482500 Fax No. :91-40-23243145 6, Tel no.: 91-141-2370482 Fax No.: 91-141-2370482 43, Shanti Palli, Rashbihari, Bypass Connector, Kolkata -700 042, West
Tel No.: 91 33 2444 9000/09 Fax no.: 91 33 2444 9010 28/45, Ashok Marg, Tel No.: 91-522-4031000 Fax No.: 91-522-4031019 130, Pandurang Budhkar Marg, Worli, Mumbai- 400 018, Tel No. : 91-22-24987000/05 Fax No,: 91-22-24987500 5th Floor, Tel No. : 91-712-6633000 Fax No.: 91-712-6633111 Plot 2, Sector 2, Kharghar Node, Navi Mumbai 410 210, Tel No.: 91-22-27568000/06 Fax No.: 91-22-27568018, 27568030 4A, I.P Estate, Tel No.: 91-11-42995000, 23455000 Fax No.: 91-11-42995011, 23314178 2nd Floor, D. Tel No.: 91-612-6450970 Fax No.: 91-612-2669534 Tower B/701-705, Tel No.: 91-20-2570 6000 Fax No.: 91-20-2570 6060 Vanijya Bhavan, Tel No.: 91-265-2330563 / 2325810 Fax No.: 91-265-2340823 |
|
|
|
|
Factory : |
E-76, Waluj MIDC Area, Tel. No.
91-240-2554008/007 Fax No.
91-240-2554007 Plot No. L6, Verna Electronic City, Tel. No.
91-832-2783420 Fax No.
91-832-2783422 Thane Tel. No.
91-22-27600001/06 Fax No.
91-22-27600030 Plot No. C-1, Additional Industrial Area, MIDC, Ambad, Nashik –
422010, Tel. No.:
91-253-2382348/ 1326/ 1327/ 2206/ 382105/ 1325/ 2542 / 2429/ 2153/ 2382082/
2006 Fax No.
91-253-2381262 130, Pandurang Budhkar Marg, Worli, Mumbai – 400018, Tel. No.
91-22-24987000 Fax No.
91-22-24987500 |
DIRECTORS
|
Name : |
Mr. Deepak S. Parekh |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
18.10.1944 |
|
Qualification : |
B. Com, FCA ( |
|
Date of Appointment : |
07.11.2003 |
|
Previous Employment : |
|
|
|
|
|
Name : |
Mr. D. C. Shroff |
|
Designation : |
Director |
|
Date of Birth/Age : |
08.08.1944 |
|
Qualification : |
BA (Hons.), LL.B., Solicitor |
|
Date of Appointment : |
20.02.1997 |
|
Previous Employment : |
|
|
|
|
|
Name : |
Mr. Y. H. Malegam |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.09.1933 |
|
Qualification : |
CA |
|
Date of Appointment : |
01.04.1998 |
|
Previous Employment : |
|
|
|
|
|
Name : |
Mr. Stephan Schneider |
|
Designation : |
Alternate Director for Prof. Dr. K. Wucherer |
|
Date of Birth/Age : |
22.03.1958 |
|
Date of Appointment : |
23.07.2007 |
|
|
|
|
Name : |
Mr. Narendra J. Jhaveri |
|
Designation : |
Director |
|
Date of Birth/Age : |
09.08.1935 |
|
Qualification : |
B. Com., Masters from |
|
Date of Appointment : |
09.11.2000 |
|
Previous Employment : |
|
|
|
|
|
Name : |
Mr. Keki Dadiseth |
|
Designation : |
Director |
|
Date of Birth/Age : |
20.12.1945 |
|
Qualification : |
B. Com., FCA ( |
|
Date of Appointment : |
27.01.2006 |
|
Previous Employment : |
|
|
|
|
|
Name : |
Mr. Pradip V. Nayak |
|
Designation : |
Director |
|
Date of Birth/Age : |
06.09.1943 |
|
Qualification : |
Degree in Economics and Politics Read Law at Gray's Inn, |
|
Date of Appointment : |
27.01.2006 |
|
Previous Employment : |
|
|
|
|
|
Name : |
Mr. Joe Kaeser |
|
Designation : |
Director |
|
Date of Birth/Age : |
23.06.1957 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.10.2006 |
|
|
|
|
Name : |
Dr. Otmar Schmitt |
|
Designation : |
Alternate Director for Mr. J. Kaeser |
|
Date of Birth/Age : |
10.09.1951 |
|
Qualification : |
PhD in National Economics |
|
Date of Appointment : |
15.12.2000 |
|
Previous Employment : |
Siemens Corporate Finance Private Limited |
|
|
|
|
Name : |
Mr. Vijay V. Paranjape |
|
Designation : |
Whole-time Director |
|
Date of Birth/Age : |
25.07.1948 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
01.02.2007 |
|
Previous Employment : |
Flender Limited |
|
|
|
|
Name : |
Dr. Armin Bruck |
|
Designation : |
Whole-time Director (from 01.10.2007 to 31.12.2007) Managing Director (from 01.01.2008) |
|
Date of Birth/Age : |
06.02.1963 |
|
Qualification : |
PhD in Operations Research Business Degree in Economics and Informatics |
|
Date of Appointment : |
01.10.2007 |
|
Previous Employment : |
· Siemens Building Technologies Private Limited · (formerly iMetrex Technologies Private Limited) · Siemens Information Processing Services Private Limited · Siemens Information Systems Limited |
|
|
|
|
Name : |
Mr. Wolfgang Dehen |
|
Designation : |
Additional Director |
|
|
|
|
Name : |
Mr. Sunil D Mathur |
|
Designation : |
Executive Director and CFO |
KEY EXECUTIVES
|
Name : |
Mr. Ajai Jain |
|
Designation : |
Vice president and
Company Secretary |
|
|
|
|
Committees of Directors |
|
|
Audit Committee |
Mr. Y. H. Malegam (Chairman) Mr. J. Kaeser / Dr. Schmitt Mr. Deepak S. Parekh Mr. K. Dadiseth Dr. Otmar Schmitt |
|
|
|
|
Investors Grievance Committee |
Mr. D. C. Shroff (Chairman) Mr. Pradip V. Nayak Dr. Armin Bruck |
|
|
|
|
Remuneration Committee |
Mr. N. J. Jhaveri (Chairman) Mr. D. C. Shroff Mr. Deepak S. Parekh Mr. Pradip V. Nayak |
|
|
|
|
Corporate Governance; Committee |
Mr. K. Dadiseth (Chairman) Mr. Deepak S. Parekh Mr. Y. H. Malegam Mr. D. C. Shroff Mr. J. Kaeser / Dr. O. Schmitt Mr. J. Schubert Dr. Armin Bruck |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of promoter
and Promoter Group |
|
|
|
1) Foreign |
|
|
|
a) Bodies corporate |
186041090 |
55.18 |
|
|
|
|
|
(B) Public Shareholdings |
|
|
|
1) Institutions |
|
|
|
a) Mutual Funds |
21357212 |
6.33 |
|
b) Financial Institutions/Banks |
813623 |
0.24 |
|
c) Central Government / State Government (s) |
1750 |
-- |
|
d) Insurance Companies |
55279577 |
16.40 |
|
e) Foreign Institutional Investors |
15560361 |
4.62 |
|
|
|
|
|
2) Non – Institution |
|
|
|
a) Bodies corporate |
11590614 |
3.44 |
|
|
|
|
|
b) Individuals |
|
|
|
i. Individual Shareholders holding nominal share capital upto Rs.0.100
Million |
42331355 |
12.56 |
|
ii. Individual Shareholders holding nominal share capital in excess
Rs.0.100 Million |
2880584 |
0.85 |
|
|
|
|
|
c) Any other |
1304034 |
0.39 |
|
Trusts |
34209 |
0.01 |
|
Directors and their Relatives and Friends |
36598 |
0.01 |
|
NRI |
1233227 |
0.37 |
|
|
|
|
|
Total |
337160200 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Marketer of Switchgear Items |
||||||||
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|
Products : |
|
PRODUCTION STATUS AS ON 30.09.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Switchgear items |
Nos. |
15319789 |
15064598 |
|
Electric
motor/generators |
Nos. |
20023 |
20522 |
|
Switchboards,
control boards and misc. Accessories |
Nos. [Boards] |
2888 |
2127 |
|
X-ray equipment |
Nos. |
1283 |
1226 |
|
Electro medical
equipment |
Nos. |
209 |
13 |
|
Variable speed AC/DC derive systems, motor control modules and
programmable control systems |
Nos. |
6248 |
1894 |
|
Instrument Transformers |
Nos. |
1740 |
1065 |
|
Static Converter for railways |
Nos. |
610 |
85 |
|
Audio frequency track circuit |
Nos. |
900 |
626 |
|
Interlocking relays |
Nos. |
250000 |
110110 |
|
Auxiliary inverter for AR locomotive |
Nos. |
180 |
104 |
|
Traction converter for diesel locomotive |
Nos. |
72 |
34 |
|
Electrical control cabinet |
Nos. |
288 |
68 |
|
Circuit breakers
above 1000 volts |
Nos. |
3500 |
940 |
|
Power
Transformers |
MVA |
15000 |
4905 |
|
Single stage/
multi stage turbines |
MW |
69 |
39 |
|
Traction
Converters for EMU |
Nos. |
180 |
109 |
|
Auxiliary
Converters for EMU |
Nos. |
180 |
132 |
|
High Frequency
Power Supply |
Nos. |
600 |
-- |
|
Digital Axcel
Counter |
Nos. |
300 |
175 |
|
Medium Voltage
Drive |
Nos. |
96 |
1 |
|
Gears / gear
couplings / spares |
Nos. |
2500 |
1288 |
GENERAL INFORMATION
|
No. of Employees : |
6683 (Approximately) |
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Bankers : |
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Facilities : |
Note :
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bharat S. Raut
and Company Chartered
Accountants Cost Auditors R. Nanabhoy and
Company Chartered
Accountants |
|
|
|
|
Fellow Subsidiaries : |
v
Siemens S.A.,
Argentina v
Memcor Australia Private Limited, Australia v
Siemens Limited,
Australia v
ETM professional control GmbH, Austria v
Siemens Aktiengesellschaft Osterreich, Austria v
Siemens VAI Metals Technologies GmbH (up to 1
July 2010), Austria v
Siemens W.L.L.,
Bahrain v
Siemens Bangladesh Limited, Bangladesh v
Siemens S.A./N.V., Belgium v
Iriel Ind. Com. Sist. Eletr. Limited, Brasilia v
Siemens Limited, Brasilia v
Siemens Eletroeletronica Limited, Brasilia v
Siemens Milltronics Process Instruments, Inc.,
Canada v
Siemens Canada Limited, Canada v
Trench Limited, Canada v
Siemens Medium Voltage Switching Technologies
(Wuxi) Limited, China v
Siemens International Trading Limited, Shanghai
China v
MWB (Shanghai) Company Limited, China v
Siemens Electrical Drives (Shanghai) Limited,
China v
Siemens Sensors & Communication Limited,
China v
Siemens Wiring Accessories Shandong Limited,
China v
Siemens Circuit Protection Systems Limited, China v
Siemens Electrical Apparatus Limited, China v
Siemens Switchgear Company Limited, China v
Siemens Power Plant Automation Limited, China v
Siemens Limited, China China v
Siemens Electrical Drives Limited, China v
Siemens Manufacturing and Engineering Centre
Limited, China v
Siemens Mechanical Drive Systems (Tianjin)
Company Limited, China v
Siemens Factory Automation Engineering Limited,
China v
Siemens Shanghai Medical Equipment Limited, China v
Siemens Mindit Magnetic Resonance Limited, China v
Siemens Numerical Control Limited, China v
Siemens Industrial Turbomachinery (Huludao)
Company Limited, China v
Siemens Manufacturing S.A., Columbia v
Siemens S.A., Columbia v
Koncar Power Transformers Limited, Croatia v
Siemens Industrial Turbomachinery s.r.o., Czech
Republic v
Siemens s.r.o., Czech Republic v
Siemens Electric Machines s.r.o., Czech Republic v
Siemens EM Dare, Czech Republic v
Siemens Flow Instruments A/S, Denmark v
Siemens Wind Power A/S, Denmark v
Siemens Turbo machinery Equipment A/S, Denmark v
Siemens S.A., Ecuador v
Siemens Technologies S.A.E., Egypt v
Siemens Osakeyhtio, Finland v
Trench France S.A.S., France v
Siemens Transmission and Distribution SAS France v
Siemens S.A.S., France v
Siemens VAI Metals Technologies SAS, France v
Flender-Graffenstaden SAS, France v
Siemens SAS, Division Production Sensors and
Communication, Usine v
de Haguenau, France v
SYKATEC Systeme, Komponenten, Anwendungstechnologie
GmbH, Germany v
Siemens Industriegetriebe GmbH, Germany v
LINCAS Export Services GmbH, Germany v
Siemens Industrial Turbomachinery GmbH, Germany v
Siemens Turbomachinery Equipment GmbH, Germany v
Weiss Spindeltechnologie GmbH, Germany v
Ruhrtal Hochspannungsgerate GmbH, Germany v
S’Busbar Trunking GmbH and Co KG (up to 1 January
2010) Germany v
Siemens Financial Services GmbH, Germany v
Trench Germany GmbH, Germany v
Siemens Finance & Leasing GmbH, Germany v
VVK Versicherungsvermittlungs- und Verkehrskontor
GmbH, Germany v
Mechanik Center Erlangen GmbH, Germany v
Wallace & Tiernan GmbH, Germany v
Alpha Verteilertechnik GmbH, Germany v
evosoft GmbH, Germany v
HSP Hochspannungsgeräte GmbH, Germany v
Loher GmbH, Germany v
Friedr Flender AG, Germany v
Siemens Geared Motors Gesellschaft mit beschränkter
Haftung, Germany v
Siemens VAI Metals Technologies GmbH, Germany v
Winergy AG, Germany v
Flender Industriegetribe GmbH, Penig,(up to July
2010) Germany v
Siemens Industrial Turbomachinery Limited, Great
Britain v
Siemens plc, Great Britain v
Electrium Sales Limited, Great Britain v
Siemens A.E., Elektrotechnische Projekte and
Erzeugnisse Greece v
Siemens Limited, Hong Kong v
Siemens Information Processing Services Private
Limited, (w.e.f 25 June 2009) India v
Siemens VAI Metals Technologies Private Limited,
India v
Powerplant Performance Improvement Limited, India v
Siemens Hearing Instruments Private Limited,
India v
Siemens Power Engineering Private Limited, India v
Siemens Healthcare Diagnostics Limited, India v
Siemens Corporate Finance Private Limited, India v
Winergy Drive Systems India Private Limited,
India v
Morgan Construction Company India Private
Limited, India v
Osram India Private Limited, India v
Siemens Information Systems Limited (w.e.f 25
June 2009) India v
Siemens Product Lifecycle Management Software (India)
Private Limited, India v
P.T. Siemens, Indonesia v
Siemens S.p.A., Italy v
Trench Italia S.r.l., Italy v
Siemens Japan K.K. ,Japan v
Yaskawa Siemens Automation and Drives Corp. Japan v
Siemens TOO Kazakhstan v
Siemens Kenya Limited, Kenya v
Siemens Limited, Korea v
Siemens Electrical and Electronic Services
K.S.C., Kuwait v
Siemens Malaysia Sdn. Bhd., Malaysia v
Siemens Innovaciones S.A. de C.V. Mexico v
Siemens, S.A. de C.V. Mexico v
Siemens Plant Operations Tahaddart SARL Morocco v
Siemens Industrial Turbomachinery B.V., Netherland v
Siemens Nederland N.V., Netherland v
Siemens (N.Z.) Limited, New Zealand v
Siemens AS, Norway v
Siemens L.L.C., Oman v
Siemens Pakistan Engineering Company Limited,
Pakistan v
Siemens S.A.C., Peru v
Siemens, Inc., Philippines v
Siemens Power Operations, Inc., Philippines v
Siemens Sp. z o.o., Poland v
TurboCare Poland Spólka Akcyjna, Poland v
Siemens S.A., Portugal v
Siemens W.L.L., Qatar v
Siemens S.R.L., Romania v
OOO Siemens, Russia v
Siemens Limited, Saudi-Arabia v
Arabia Electric Limited, (Equipment) Saudi-Arabia v
Siemens d.o.o. Beograd Serbia v
Siemens Private Limited, Singapore v
Siemens Electronics Assembly Systems Private
Limited, Singapore v
Siemens d.o.o. Slovania v
Siemens Limited, South Africa v
Siemens S.A. Spain v
Fábrica Electrotecnica Josa, S.A., Spain v
Siemens Industrial Turbomachinery AB, Sweden v
Siemens Schweiz AG, Building Technologies
Division, International Headquarters Switzerland v
Siemens Limited, Taiwan v
Siemens Limited, Thailand v
Siemens Sanayi ve Ticaret A.S., Turkey v
Siemens Ukraine, Ukraine, United Arab v
Siemens LLC, Emirates v
Siemens Industry, Inc., USA v
Siemens Energy, Inc., USA v
Siemens Demag Delaval Turbomachinery, Inc., USA v
Siemens Water Technologies Corp., USA v
PETNET Solutions, Inc., USA v
Morgan Construction Company (up,to 1 July 2010)
USA v
Siemens Medical Solutions USA, Inc. v
SMS Inc. - Customer Solutions Group, USA v
Siemens S.A., Venezuela v
Siemens Automation Systems Limited, Vietnam v
Siemens Limited, Vietnam |
|
|
|
|
Wholly Owned Subsidiaries : |
ü
Siemens Rolling Stock Private Limited ü
Flender Limited. ü
Siemens Building Technologies Private Limited. ü
Vista Security Technics Private Limited. ü
Imetrex Technologies Private Limited.(Singapore) ü
Avenues (Honkong) Limited. ü
Imetrex Technologies Limited. (Ireland) ü
Europlex Technologies (UK) Limited. (United Kingdom) ü
Europlex Technologies (Ireland) Limited. formerly
known as Europlex Manufacturing Limited. (Ireland) ü
Clonshaugh Security Limited. formerly known as
Europlex Technologies Limited.(Ireland) |
|
|
|
|
Holding Company : |
v
Siemens AG |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs. 2/- each |
Rs. 2000.000 millions |
|
|
|
|
|
Issued:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
338024465 |
Equity Shares |
Rs. 2/- each |
Rs. 676.049
millions |
|
|
|
|
|
Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
337,160,200 |
Equity Shares |
Rs.2/- each |
Rs.674.320 Millions |
|
|
|
|
|
Notes : of the above
186,041,090 (2009:
186,041,090) Equity shares of ` 2 each, fully paid-up, are held by the Holding
company, Siemens AG, Germany;
55,500,000 (2009: 55,500,000)
Equity shares of ` 2 each, fully paid-up, were allotted as fully paid-up bonus
shares by capitalization of the General reserve
168,580,100 (2009:
168,580,100) Equity Shares of ` 2 each, fully paid up, were allotted as fully
paid up bonus shares by capitalization of Securities Premium account;
3,638,085 (2009:
3,638,085) Equity shares of ` 2 each, were allotted as fully paid up for
consideration received other as in cash.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
674.320 |
674.320 |
674.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
34103.468 |
28491.887 |
20016.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
34777.788 |
29166.207 |
20690.800 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2.410 |
5.906 |
10.600 |
|
|
TOTAL BORROWING |
2.410 |
5.906 |
10.600 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34780.198 |
29172.113 |
20701.400 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7339.937 |
6295.013 |
5571.700 |
|
|
Capital work-in-progress |
2465.158 |
1057.018 |
870.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
3884.606 |
4769.723 |
5236.500 |
|
|
DEFERREX TAX ASSETS |
1313.000 |
1119.126 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15335.216
|
9721.971
|
7621.100
|
|
|
Sundry Debtors |
33023.441
|
34583.115
|
34328.000
|
|
|
Cash & Bank Balances |
18534.430
|
14449.022
|
9130.900
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
12448.994
|
10457.640
|
17556.900
|
|
Total
Current Assets |
79342.081
|
69211.748 |
68636.900 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
29188.600
|
23526.694 |
|
|
|
Other Current Liabilities |
14703.662
|
16129.228
|
42164.200
|
|
|
Provisions |
15672.322
|
13624.593
|
17449.600
|
|
Total
Current Liabilities |
59564.584
|
53280.515 |
59613.800 |
|
|
Net Current Assets |
19777.497
|
15931.233
|
9023.100
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000
|
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
34780.198 |
29172.113 |
20701.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Turnover |
92706.690 |
83367.335 |
82503.628 |
|
|
|
Commission Income |
445.715 |
520.410 |
451.826 |
|
|
|
Interest Income |
776.085 |
523.002 |
471.937 |
|
|
|
Other Operating Income |
848.315 |
697.219 |
621.790 |
|
|
|
Other Income |
0.000 |
2341.188 |
67.214 |
|
|
|
TOTAL (A) |
94776.805 |
87449.154 |
84116.395 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales and services |
68474.151 |
63976.912 |
67730.513 |
|
|
|
Personnel costs |
6325.109 |
5498.989 |
4475.751 |
|
|
|
Other costs, net |
6269.394 |
4877.553 |
3560.352 |
|
|
|
TOTAL (B) |
81068.654 |
74353.454 |
75766.616 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13708.151 |
13095.700 |
8349.779 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
105.876 |
58.772 |
40.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13602.275 |
13036.928 |
8309.244 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1014.796 |
777.794 |
637.344 |
|
|
|
|
|
|
|
|
|
Add |
Exceptional
Income: profit on sale of investments in subsidiaries |
0.000 |
2059.459 |
1245.786 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
12587.479 |
14318.593 |
8917.686 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(4315.364) |
(3870.085) |
(2984.420) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8272.115 |
10448.508 |
5933.266 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD as on 01.10.2009 |
745.688 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1685.801 |
1685.801 |
1011.481 |
|
|
|
Tax on Dividend |
279.990 |
286.502 |
171.901 |
|
|
|
Net Deficit |
0.000 |
0.000 |
172.640 |
|
|
BALANCE CARRIED
TO THE B/S |
7052.012 |
8476.205 |
4577.244 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Direct on FOB basis |
1996.012 |
2569.481 |
2839.181 |
|
|
|
Under IDA/BRD/ADB credits |
0.000 |
2829.935 |
1194.038 |
|
|
|
Project business |
13458.842 |
5486.774 |
26377.412 |
|
|
|
Commission |
445.715 |
520.410 |
451.826 |
|
|
|
Service charges and others |
116.336 |
9130.899 |
94.324 |
|
|
TOTAL EARNINGS |
16016.905 |
20537.499 |
30956.781 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
5015.591 |
4432.304 |
|
|
|
Stores & Spares |
|
21382.256 |
19949.757 |
|
|
|
Capital Goods |
888.961 |
528.565 |
174.506 |
|
|
TOTAL IMPORTS |
34849.282 |
26926.412 |
24556.567 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.53 |
30.99 |
17.60 |
|
QUARTERLY RESULTS
(Rs In Millions)
|
PARTICULARS |
31.12.2010 |
|
|
1st
Quarter |
|
Net Sales |
25381.110 |
|
Total Expenditure |
21753.760 |
|
PBIDT (Excl OI) |
3627.350 |
|
Other Income |
289.630 |
|
Operating Profit |
3916.980 |
|
Interest |
0.000 |
|
Exceptional Items |
0.000 |
|
PBDT |
3916.980 |
|
Depreciation |
265.590 |
|
Profit Before Tax |
3651.390 |
|
Tax |
1213.480 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
2437.910 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
2437.910 |
KEY RATIOS
|
PARTICULARS |
|
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
PAT / Total Income |
(%) |
8.73
|
11.94
|
7.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.58
|
17.17
|
10.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.30
|
18.96
|
0.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.49
|
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.71
|
1.83
|
2.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.30
|
1.15 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The Turnover of the
Company increased by approximately 11% and stood at ` 93,152 million as
compared ` 83,888 million in the previous year. The Company’s Profit from
Operations for the year ended 30th September, 2010 increased by 26% to ` 11,917
million as compared to ` 9,454 million in the corresponding period of the
previous year. While all the businesses contributed to the growth, the key
drivers were Power Transmission, Industry Solutions, Mobility and Drives
Technologies business.
The PAT was ` 8,272
million, compared to ` 10,449 million during Financial Year 2008–09.
MANAGEMENT
DISCUSSION AND ANALYSIS
GENERAL
PERFORMANCE REVIEW
The Indian economy
exhibited broad based recovery in the second half of 2009 -10 from the slowdown
that was witnessed in the second half of 2008 - 09. Despite a deficient monsoon
and a fragile pace of global recovery, India achieved 7.4 % growth in GDP
during 2009-10.
The cyclical
slowdown in the Industrial Sector which began in 2007-08 was arrested at the
beginning of 2009-10 and the sector registered a growth of 8.2%. The
manufacturing sector in particular grew at 8.9% while the service sector grew
at 8.7%.Core industries and infrastructure services, led by the robust growth
momentum of telecom services and spread across power, coal and other
infrastructure like ports, civil aviation and roads have also shown signs of
recovery in 2009 -10. The Index of Industrial Production (IIP) registered a
growth of 10.5% during 2009 -10 as compared to 2.8% in 2008-09 due to a boost
from the double digit growth which was witnessed since October 2009.
The year-on-year
wholesale price index (WPI) inflation rate was fairly volatile in 2009-10.
While it remained low during the first half of the year it increased to 11.0 %
in the second half (March 2010). The base effect of high prices in the first
half of 2008-09 contributed to the low inflation during the first half of
2009-10. The build-up of inflationary pressures, however, was visible
throughout the year as WPI exhibited a strong uptrend over successive months
during the year. In addition to this, the dynamics involved in the production
of some components of the capital goods sector have also played a significant
role in the recent volatility seen in the overall IIP numbers.
All in all, the
improved Indian economic scenario and robust growth of the manufacturing sector
saw impressive investments in industries and infrastructure. Riding on this
economic recovery, Subject posted impressive results with New Order Intake
increasing by 41%; Sales increasing by 11% and Profit from Operations growing
by 26%. Further reviews on each of Siemens’ businesses are given separately in
the following paragraphs:
OUTLOOK FOR
SIEMENS LIMITED
Going forward we expect
the reviving economy to attract huge investments and strengthen development in
the areas of infrastructure and industries. The Industry is not only seeing the
increase in fresh Projects, but also witnessed an increase in projects in the
implementation phase. Inflation has remained a major source of concern in the
economy for more than a year. But combined with the base effect, the inflation
rate is expected to fall to approximately 6.5% by March 2011.
The strengthening
global recovery of the economy should help sustain the growth rate for the
Indian economy. Siemens with its wide portfolio of infrastructure solutions
will continue to focus on state of the art technology, sustainability and green
solutions while actively pursuing the base level segment with increased
localization. However the challenges will be a highly competitive market
environment, leading to pricing pressure. Rising raw material prices also seem
to be a cause for concern. Delay in implementation of infrastructure projects,
especially in the power sector, could also hamper the growth momentum. Concerns
regarding high inflation the Indian rupee’s sharp appreciation also continue
and could slow down the cost competitiveness. Despite these challenges, Siemens
remains positive about the near-term outlook. As an integrated technology
company, Siemens will focus on consolidating its leadership position in the
market and continue on its profitable growth path.
Note: This report contains forward-looking
statements based on beliefs of Siemens’ management. The words ‘anticipate’,
‘believe’, ‘estimate’, ‘forecast’, ‘expect’, ‘ intend’, ‘plan’, ‘should’, and
‘project’ are used to identify forward-looking statements, Such statements
reflect the Company’s current views with respect to the future events and are
subject to risks and uncertainties. Many factors could cause the actual result
to be materially different, including, amongst others, changes in the general
economic and business conditions, changes in currency exchange rates and
interest rates, introduction of competing products, lack of acceptance of new
products or services, and changes in business strategy. Actual results may vary
materially from those projected here. Siemens does not intend to assume any
obligation to update these forward looking statements.
Fixed Asset
Intangible Asset
- Goodwill
- Technical
know-how
- Customer
Contracts
Tangible Assets
- Land
- Building
Plant and Furniture
- Machinery
Fittings and Office Equipment
- Vehicles
Equipment given on Lease
WEB SIDE DETAILS
HISTORY
Siemens was founded in Berlin by
Werner von Siemens in 1847. As an extraordinary inventor, engineer and
entrepreneur, Werner von Siemens made the world's first pointer telegraph and
electric dynamo, inventions that helped put the spin in the industrial revolution.
He was the man behind one of the most fascinating success stories of all time -
by turning a humble little workshop into one of the world's largest
enterprises.
As Werner had envisioned, the company he started
grew from strength to strength in every field of electrical engineering. From
constructing the world's first electric railway to laying the first telegraph
line linking Britain and India, Siemens was responsible for building much of
the modern world's infrastructure.
Siemens is today a technology giant in more than
190 countries, employing some 440,000 people worldwide. Our work in the fields
of energy, industry, communications, information, transportation, healthcare,
components and lighting have become essential parts of everyday life.
While Werner was a tireless inventor during his
days, Siemens today remains a relentless innovator. With innovations averaging
18 a day, it seems like the revolution Werner started is still going strong.
PRESS REALISE
Siemens
Limited announces Q1 2011 results: Sales increase by 35%
For
the first quarter ended December 31, 2010, Sales for Siemens Limited increased
by 35% to Rs. 2525 crores demonstrating yet another consecutive quarter of high
growth.
Mumbai, 2011-Jan-28
For the
first quarter ended December 31, 2010, Sales increased by 35% to Rs 2525 crores
as compared Rs. 1867 crores in Q1 2010. All the three sectors of Industry,
Energy and Healthcare contributed to this growth. For Q1 2011, New Orders
were booked at Rs. 3987 crores which included the order for DGEN from Torrent
Power Limited, for a
Combined Cycle Power plant.
The Profit Before Tax (PBT) stood at Rs. 365 crores
as against Rs. 361 crores recorded during the corresponding period in the previous
year. Taking into account certain one time gains amounting to Rs. 76 crores
arising last year on completion of some major projects, the PBT has increased
by 28% on a comparable basis. The Profit After Tax stood at Rs. 244 crores as
against Rs. 238 crores in the previous year.
The Company’s Unexecuted Order Value position as of
December 31, 2010 was Rs. 15,132 crores, a rise of 9%.
The Bombay High Court has today approved the
amalgamation of Siemens Healthcare Diagnostics Limited with Siemens Limited The sanction
of the Ahmadabad High Court is expected shortly and thereafter the amalgamation
will be effective. The “Appointed Date” fixed for the amalgamation is 1st
October, 2009.
Commenting on the first quarter performance, Dr.
Armin Bruck, Managing Director, Siemens Limited. said “Our performance in the first
quarter has been as per expectations; sales have increased significantly and
were driven by a surge in the product business on account of increase in
domestic demand and a reviving project business across all our businesses.
Considering that our order book reflected a mega order from Qatar in the first
quarter of last year, on a comparable basis our New Orders have registered a
healthy growth. Although we are operating amidst an extremely competitive
market environment with pricing pressures and inflationary trends in raw
material prices, we are optimistic about the future”, he added.
About
Siemens Limited.:
Siemens
Limited., in
which Siemens AG holds 55.18% of the capital, is the flagship listed company of
Siemens AG in India. Siemens in India including Siemens Ltd. comprises 19 legal
entities, is a leading provider of industry and infrastructure solutions with a
business volume aggregating about Rs. 12,000 crore. It operates in the core
business areas of Industry, Energy and Healthcare. It has nation-wide Sales and
Service network, 21 manufacturing plants, a network of around 500 channel
partners and employs about 17,500 people.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.62.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
75 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.