1. Summary Information
|
|
|
Country |
India |
|
Company Name |
PANASONIC
AVC NETWORKS INDIA COMPANY LIMITED |
Principal Name 1 |
Ms. Sita Jiwarajkaram |
|
Status |
Satisfactory |
Principal Name 2 |
Ichiro Kitahara |
|
|
|
Registration # |
55-77330 |
|
Street Address |
D-13/4,
Okhla Industrial Area, Phase – II, New Delhi – 110 020 |
||
|
Established Date |
19.03.1996 |
SIC Code |
-- |
|
Telephone# |
91-11-26101174/83/89/90/51614322 |
Business Style 1 |
Manufacturers, Importers and Exporters of Colour
Television, Audio Hi-fi Systems, Picture Tube, etc. |
|
Fax # |
91-11-26176339/26388581 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
--- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
500,000,000 |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings (55.12%) |
Banking |
ICICI Bank, Citi
Bank |
|
Public Limited Corp. |
-- |
Business Period |
15 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
-
Holding Company |
Country
|
Company
Name |
Panasonic Corporation |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
640,989,000 |
Current Liabilities |
403,492,000 |
|
Inventories |
178,076,000 |
Long-term Liabilities |
-- |
|
Fixed Assets |
135,442,000 |
Other Liabilities |
--- |
|
Deferred Assets |
-- |
Total Liabilities |
403,492,000 |
|
Invest& other Assets |
17,279,000 |
Retained Earnings |
68,294,000 |
|
|
|
Net Worth |
568,294,000 |
|
Total Assets |
971,786,000 |
Total Liab. & Equity |
971,786,000 |
|
Total Assets (Previous Year) |
747,647,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
3,537,812,000 |
Net Profit |
173,911,000 |
|
Sales(Previous yr) |
1,957,770,000 |
Net Profit(Prev.yr) |
11,820,000 |
MIRA
INFORM REPORT
|
Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
PANASONIC AVC NETWORKS INDIA COMPANY LIMITED |
|
|
|
|
Registered Office : |
D-13/4, Okhla Industrial Area, Phase – II, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
19.03.1996 |
|
|
|
|
Com. Reg. No.: |
55-77330 |
|
|
|
|
Paid up Capital : |
Rs. 500.000 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1996PLC077330 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELM09384E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACM6492M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers, Importers and Exporters of Colour Television, Audio Hi-fi Systems, Picture Tube, etc. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Panasonic Corporation. It is all established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 : |
D-13/4, Okhla Industrial Area, Phase – II, |
|
Tel. No.: |
91-11-26101174/83/89/90/51614322 |
|
Fax No.: |
91-11-26176339/26388581 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
No. 88, 6th Floor,
“ SPIC building Annexe, Mount Road, Guindy, Chennai – 600032, Tamilnadu,
India |
|
Tel. No.: |
91-44-22301952/22304100 |
|
Fax No.: |
91-44-22301951 |
|
|
|
|
Corporate Office 1 : |
First Floor, |
|
Tel. No.: |
91-124-4596600 |
|
Fax No.: |
91-124-4596625 |
|
|
|
|
|
|
|
Corporate Office 2 /Factory : |
C-52, Phase II, Noida – 201 305, District Gautam Budh Nagar, Uttar Pradesh |
|
Tel. No.: |
91-120-2567045/26101174/83/89/90 |
|
Fax No.: |
91-120-2567042/2567046/26176339 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at :-
Tel. 91-11-26101174/26101183/26101189/26101190 Fax. 91-11-26176339
Tel. 91-44-28253462 to 65
Tel. 91-172-2742710/2747218
Tel. 91-79-26405060
Tel. 91-22-28761677-91/28761711/22/33
Tel. 91-33-22882531/32/33/34
Tel. 91-4840-2364427/2364747
Tel. 91-40-23073690/92 |
|
|
|
|
Overseas Office: |
Located at:
|
DIRECTORS
As On 29.08.2007
|
Name : |
Ms. Sita Jiwarajkaram |
|
Designation : |
Chairman |
|
Address : |
W-58, Greater Kailash Part II, New Delhi-110019, |
|
Date of Birth : |
31.05.1925 |
|
Date of Appointment : |
19.03.1996 |
|
|
|
|
Name : |
Ichiro Kitahara |
|
Designation : |
Managing Director |
|
DIN No. : |
02517449 |
|
|
|
|
Name : |
Mr. Makoto Ikeda |
|
Designation : |
Managing Director |
|
Address : |
C-46, 2nd Floor, Friends Colony East, New
Delhi-110046, |
|
Date of Birth/Age : |
16.07.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.07.2002 |
|
Previous Employment : |
MEI, |
|
|
|
|
Name : |
Mr. Gopal Jiwarajka |
|
Designation : |
Director |
|
Address : |
W-58, Greater Kailash Part II, New Delhi-110019, |
|
Date of Birth/Age : |
15.06.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.07.2007 |
|
Previous Employment : |
Salora International Limited |
|
|
|
|
Name : |
Mr. Tsutomu Kawarasaki |
|
Designation : |
Director |
|
Address : |
B-311, New Friends, New Delhi-110065, |
|
Date of Birth/Age : |
06.08.1949 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
06.11.2003 |
|
Previous Employment : |
Panasonic Amazonic, |
|
|
|
|
Name : |
Mr. R. P. Khaitan |
|
Designation : |
Director |
|
Address : |
W-58, Greater Kailash Part II, New Delhi-110019, |
|
Date of Birth : |
20.01.1948 |
|
Date of Appointment : |
01.07.2007 |
|
|
|
|
Name : |
Mr. P. N. Mehta |
|
Designation : |
Director |
|
Address : |
90, Anandlok August Kranti Marg, |
|
Date of Birth : |
22.06.1936 |
|
Date of Appointment : |
28.04.2001 |
|
|
|
|
Name : |
Mr. B. D. Dikshit |
|
Designation : |
Director |
|
Address : |
D-2, Narmada Apartments Alknanda, New Delhi-110019, |
|
Date of Birth : |
15.07.1930 |
|
Date of Appointment : |
28.04.2001 |
|
|
|
|
Name : |
Mr. Autar Krishna |
|
Designation : |
Director |
|
Address : |
7-Golf Links, |
|
Date of Birth : |
08.09.1931 |
|
Date of Appointment : |
26.03.2002 |
|
|
|
|
Name : |
Mr. Sanjay Kochhar |
|
Designation : |
Director |
|
Address : |
84, Anand Lok, Khel Gaon Marg, New delhi-110049, |
|
Date of Birth : |
16.08.1961 |
|
Date of Appointment : |
26.03.2002 |
|
|
|
|
Name : |
Mr. S. G. Kulkarni |
|
Designation : |
Director |
|
Address : |
305, South Block, Bay View Apartments, Chennai-600041, |
|
Date of Birth : |
06.07.1963 |
|
Date of Appointment : |
06.09.2006 |
|
|
|
|
Name : |
Mr. Ken Morita |
|
Designation : |
Director |
|
Address : |
2-1, |
|
Date of Birth : |
24.10.1948 |
|
Date of Appointment : |
31.05.2006 |
|
|
|
|
Name : |
Mr. Haruhiko Ogami |
|
Designation : |
Director |
|
Address : |
1 RHU Cross, 06-07, Costa RHU, |
|
Date of Birth : |
07.11.1961 |
|
Date of Appointment : |
19.05.2007 |
|
|
|
|
Name : |
Mr. Rajiv Bajaj |
|
Designation : |
Director |
|
Address : |
C-262, Salora Vihar, C-58/12, Sector 62, Noida-201307, UP, |
|
Date of Birth : |
21.08.1966 |
|
Date of Appointment : |
01.04.1998 |
|
|
|
|
Name : |
Mr. Makoto Okamoto |
|
Designation : |
Whole time Director |
|
Address : |
A225, New Friends Colony, New delhi-110065, |
|
Date of Birth : |
21.08.1970 |
|
Date of Appointment : |
01.03.2009 |
|
DIN No. : |
02589088 |
|
|
|
|
Name : |
Mr. Masaaki Ikezaki |
|
Designation : |
Director |
|
Address : |
N-95, |
|
Date of Appointment : |
22.01.2005 |
|
|
|
|
Name : |
Mr. Nobuhiko Ozaki |
|
Designation : |
Additional Director |
|
Address : |
E-2/9, 1st Floor, Vasant Vihar, |
|
Date of Appointment : |
22.01.2005 |
|
|
|
|
Name : |
Hiroshi Sugimura |
|
Designation : |
Director |
|
Address : |
90, |
|
Date of Birth : |
02.07.1957 |
|
|
|
|
Name : |
Yoshiku Miyata |
|
Designation : |
Additional Director |
|
Address : |
3-12-3, |
|
Date of Birth : |
24.04.1953 |
|
Date of Appointment : |
17.09.2010 |
|
|
|
|
Name : |
Daizo Ito |
|
Designation : |
Director |
|
Address : |
15-10, 2-Chome Uenno-Higashi, |
|
Date of Birth : |
27.02.1959 |
|
Date of Appointment : |
17.09.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Bajaj |
|
Designation : |
Company Secretary |
|
Pan No. : |
AAHPB5250A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.08.2007
|
Names Of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
Narendra Kumar Poddar |
194054 |
0.57 |
|
Patanjali Govind Keswani |
100544 |
0.29 |
|
Sudhir Gupta |
102285 |
0.30 |
|
Karuna Kothari |
135000 |
0.39 |
|
Anil Gupta |
83106 |
0.24 |
|
Vipulkumar Anopchand Shah |
69557 |
0.20 |
|
Dr. Ashok Seth |
58000 |
0.17 |
|
Anil Prabhakar Udar |
53986 |
0.16 |
|
Suman Goel |
51434 |
0.15 |
|
Prabhakar V. Udar |
46025 |
0.13 |
|
Shivram K |
37500 |
0.11 |
|
Mamta Sancheti |
37371 |
0.11 |
|
Megha Anil Udar |
35822 |
0.10 |
|
Kailash Pat Agarwala |
32000 |
0.09 |
|
Sulochana Devi Chiranewala |
31800 |
0.09 |
|
Bhagwan Advani |
31090 |
0.09 |
|
Rakesh Khanna |
29485 |
0.09 |
|
Kumud Prabhakar Udar |
28604 |
0.08 |
|
Jagdish Prasad Bagri |
28084 |
0.08 |
|
Dilip P Baboo |
28000 |
0.08 |
|
B Ali Akbar |
25828 |
0.08 |
|
Usha B Shah |
24500 |
0.07 |
|
Prabhakar Vasudev Udar |
22848 |
0.07 |
|
Deepa Gupta |
22772 |
0.07 |
|
Alka Dora Advani |
21700 |
0.06 |
|
Megha V. Kulkarni |
21200 |
0.06 |
|
Surendra Kumar Joshi |
20215 |
0.06 |
|
Ikbal Nathani |
20000 |
0.06 |
|
Hoshang Keki Vakil |
20000 |
0.06 |
|
Indra Lal |
20000 |
0.06 |
As On 29.08.2007
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Mutual Funds |
|
0.01 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
55.12 |
|
Bodies corporate |
|
24.11 |
|
Directors or relatives of directors |
|
10.21 |
|
Other |
|
10.50 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importers and Exporters of Colour Television, Audio Hi-fi Systems, Picture Tube, etc. |
|
|
|
PRODUCTION STATUS (31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Colour TV Sets |
Nos |
NA |
600000 |
412107 |
GENERAL INFORMATION
|
Bankers : |
·
The Bank of Tokyo Mitsubhi Limited, ·
Citi Bank, ·
ICICI Bank, Noida, ·
Sumitomo Mitsui Banking Corporation, ·
UFJ Bank, ·
Standard Chartered Bank, |
|
|
|
|
Facilities : |
- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.S.R. and Company Chartered Accountant |
|
Address : |
4 B, DLF
Corporate Park, |
|
Pan No. : |
AAAFB1288K |
|
|
|
|
Holding Company : |
Panasonic Corporation |
|
|
|
|
Associates : |
· Salora International Limited |
|
|
|
|
Fellow Subsidiaries |
Overseas fellow subsidiaries ·
Panasonic Factory Solutions Singapore Pte Limited ·
Panasonic Trading (S) Pte Ltd ·
PT. Panasonic Manufacturing ·
Panasonic AVC Networks Thailand Company Limited ·
Panasonic AVC Networks Kuala Lumpur SDN ·
BHD ·
Panasonic Industrial Asia Pte Limited ·
Panasonic Trading ·
MT Picture display devices Limited ·
IPS Alpha Technology Limited ·
Panasonic AVC Networks Shandong Company Limited ·
Panasonic Asia Pacific Pte Limited ·
Panasonic Logistics ( ·
Beijing Matsushita Color CRT Company Limited ·
Panasonic AVC Networks Local fellow subsidiaries
|
|
|
|
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000007 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 millions |
|
59999993 |
5% Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 600.000 millions |
|
|
|
|
|
|
|
Total
|
|
Rs.1100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000007 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 millions |
|
|
|
|
|
Of the above,
47627439 equity shares (previous year 38618320 equity shares) of Rs. 10 each
are held by Panasonic Corporation,
*During the
financial year 2003-2004, the Company had amended its Memorandum of Associations
and Articles of Association to bifurcate its authorised share capital of
110,000,000 equity shares of Rs. 10 each into 50000007 equity shares of Rs. 10
each and 59999993 5% non-cumulative redeemable preference shares of Rs. 10
each.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
500.000 |
500.000 |
500.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
68.294 |
16.822 |
5.002 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
568.294 |
516.822 |
505.002 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
568.294 |
516.822 |
505.002 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
135.442 |
92.395 |
93.865 |
|
|
Capital work-in-progress |
17.255 |
62.748 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.024 |
0.024 |
0.024 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
178.076
|
79.963
|
65.452
|
|
|
Sundry Debtors |
242.287
|
206.884
|
143.421
|
|
|
Cash & Bank Balances |
312.362
|
213.280
|
237.190
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
86.340
|
92.353
|
70.474
|
|
Total
Current Assets |
819.065
|
592.480
|
516.537
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
235.462
|
196.631 |
87.038 |
|
|
Other Current Liabilities |
30.588
|
33.301
|
17.254
|
|
|
Provisions |
137.442
|
0.893
|
1.132
|
|
Total
Current Liabilities |
403.492
|
230.825
|
105.424
|
|
|
Net Current Assets |
415.573
|
361.655
|
411.113
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
568.294 |
516.822 |
505.002 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3537.812 |
1957.770 |
1310.263 |
|
|
|
Other Income |
36.399 |
16.719 |
44.424 |
|
|
|
TOTAL (A) |
3574.211 |
1974.489 |
1354.687 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in stocks |
(14.473) |
(1.939) |
3.945 |
|
|
|
Materials consumed |
3047.853 |
1721.565 |
1094.615 |
|
|
|
Personnel expenses |
89.956 |
59.673 |
51.644 |
|
|
|
Operating and other expenses |
94.298 |
89.039 |
52.557 |
|
|
|
Selling and distribution expenses |
95.882 |
73.015 |
70.512 |
|
|
|
TOTAL (B) |
3313.516 |
1941.353 |
1273.273 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
260.695 |
33.136 |
814.414 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.048 |
2.021 |
0.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
257.647 |
31.115 |
81.153 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.396 |
16.996 |
21.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
210.251 |
14.119 |
59.854 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
36.340 |
2.299 |
7.564 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
173.911 |
11.820 |
52.290 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.822 |
5.002 |
(47.288) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
17.391 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
105.000 |
0.000 |
0.000 |
|
|
|
Corporate Dividend Tax on Proposed
Dividend |
17.439 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
50.903 |
16.822 |
5.002 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
14.277 |
32.321 |
NA |
|
|
TOTAL EARNINGS |
14.277 |
32.321 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
NA |
0.000 |
1.042 |
|
|
|
Capital Goods |
NA |
0.000 |
2.133 |
|
|
TOTAL IMPORTS |
NA |
0.000 |
3.175 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.48 |
0.24 |
1.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.86
|
0.60
|
3.86
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.94
|
0.72
|
4.57
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.03
|
2.06
|
9.81
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.03
|
0.12
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.71
|
0.45
|
0.21
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
2.57
|
4.90
|
LOCAL AGENCY FURTHER INFORMATION
Financial
Performance
The company has substantially been able to increase its domestic
turnover to the tune of Rs. 3523 millions as compared to Rs. 2260 millions last
year. Their has been substantial improvement in the profitability as the
company is moving towards high end model and the share of LCD in the total
turnover has improved.
Dividend
The directors have recommended a dividend @21% on 50000007 equity shares
of Rs. 10 each
Transfer of
reserves
The company is transferring an amount equal to 10% of current profits to
General Reserve
OPARATIONS REVIEW:
The
company has made substantial inroads into the LCD market in
As
the Indian market is maturing in the consumer electronic sector, there is bound
to be more pressure on the bottom line in the years to come.
Contingent
Liabilities:
Claims received but not acknowledged as
debts*
Rs.
In Millions
|
- Excise duty
demand (including penalty) |
64.307 |
|
- Customs duty |
- |
|
- Port Charges |
1.803 |
|
- Service tax
(including penalty) |
11.494 |
|
- Income tax |
57.216 |
|
- Sales tax |
2.064 |
|
- Value added tax
|
5.806 |
|
|
142.690 |
FIXED
ASSETS:
- Building
- Plant and Machinery
- Dies and Moulds
- Furniture and Fixture
- Vehicles
- Software
AS PER WEBSITE
DETAILS:
Profile:
Subject,
headquartered in
The Company
provides solutions, not just products, to make everyday home and business life
simpler, convenient and energy efficient, achieved through innovative
technologies. At Panasonic, designers and engineers constantly endeavor to
ensure that each evolution of product is better than its previous version by
following stringent process to develop products that are more energy efficient,
water efficient and long lasting. Under its global Eco Ideas programme,
which includes Eco Ideas for Life styles and Business – styles, the company
develops energy-efficient, state-of-the-art products and encourages customers
to live eco-conscious lifestyles with an aim to reduce CO2 emissions in
households and manufacturing units.
Company Vision: To be the No1
Green Innovation Company worldwide in the Electronics industry by year 2018.
In
Panasonic India
Private Limited [PI] - Consumer Sales Division for making available
consumer electronics appliances from the Panasonic stable.
Panasonic Home
Appliances India Company Limited [PHAI] for manufacture, import, marketing and
sales of kitchen appliances and small domestic appliances. Product categories
include beauty care, personal care and health care items. PHAI is headquartered
in Chennai, Tamil Nadu.
Panasonic AVC
Networks India Limited [PAVCI] for manufacturer of CRT TVs and LCDs. PAVCI
is based in Noida, UP.
Panasonic Energy
India Company Limited [PECIN] for manufacture and sales of dry cell
batteries. PECIN is based in
Panasonic Carbon
India Company Limited [PCIN] for manufacture and sales of carbon rods.
PCIN is based in Chennai, Tamil Nadu.
Indo National
Limited [INNCO] for manufacture and sales of dry-cell batteries.
INNCO is based in Chennai, Tamil Nadu.
Sanyo and
Panasonic Electric Works has been fully amalgamated with Panasonic
Corporation.
Anchor Electricals
is a group company of Panasonic Corporation in India
Product Categories:
Digital
audio-visuals: Plasma/LCD/3D TVs, DVD players, cameras and camcorders
Home appliances: refrigerators,
washing machines, air conditioners, microwave ovens, rice cookers and mixer
grinders
Health and Beauty
appliances: handheld massager, water purifier and hair dryer
Professional
communications: cordless phones and faxes
Business solutions: multi-function
copiers and notebook PCs
Professional
audio-visuals: professional cameras and security systems.
The Company
promotes technology transfer in recognition of the wisdom of shared expertise
and resources in order to enhance product and machine technology advancement,
productivity and quality excellence. With local participation in its
state-of-the-art R and D activities, there is not only mutual technological
progress but it also ensures the highest product quality under the local
operating conditions.
Growth and
Achievements
Panasonic in
Panasonic is
investing USD 300 million in
Panasonic is on
track to generate sales revenue of USD 2 billion by 2012 in
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.44.58 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.