1. Summary Information
|
|
|
Country |
|
|
Company Name |
L G ELECTRONICS INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Moon Bum Shin |
|
Status |
Good |
Principal Name 2 |
Mr. |
|
|
|
Registration # |
20-31138 |
|
Street Address |
Plot No. 51, |
||
|
Established Date |
20.01.1997 |
SIC Code |
-- |
|
Telephone# |
91-120-2560900 / 940 / 2560960 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-120-2560918 /2560921 / 2560926 /
2560198 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Colour Televisions |
|
|
# of employees |
Around 3000 |
Product Name 2 |
Flat Panel Display |
|
Paid up capital |
Rs.
1131287320 /- |
Product Name 3 |
Vacuum Cleaner |
|
Shareholders |
Foreign holdings – 100% |
Banking |
State Bank of |
|
Public Limited Corp. |
NO |
Business Period |
13 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A
(56) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
|
LG
Chemicals Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
15,321,362,000 |
Current Liabilities |
19,796,800,000 |
|
Inventories |
15,466,737,000 |
Long-term Liabilities |
-- |
|
Fixed Assets |
4,952,825,000 |
Other Liabilities |
-- |
|
Deferred Assets |
687,116,000 |
Total Liabilities |
19,796,800,000 |
|
Invest& other Assets |
181,197,000 |
Retained Earnings |
15,681,150,000 |
|
|
|
Net Worth |
16,812,437,000 |
|
Total Assets |
36,609,237,000 |
Total Liab. & Equity |
36,609,237,000 |
|
Total Assets (Previous Year) |
28,618,575,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
106,911,000,000 |
Net Profit |
3,474,000,000 |
|
Sales(Previous yr) |
86,271,000,000 |
Net Profit(Prev.yr) |
1,995,000,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
L G ELECTRONICS
INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No. 51, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
20.01.1997 |
|
|
|
|
Com. Reg. No.: |
20-31138 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U32107UP1997PTC031138 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEL03835G /
PNEL03836A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACL1745Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer and Trader in Colour Televisions, Flat Panel Display, Air
Conditioner, Refrigerators, Microwave Ovens, Washing Machines, Compressors,
Vacuum Cleaner, Optical Disk Drive, Audio and Digital Video Display Systems,
Monitors and GSM Mobiles. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (56) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 67000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part
of LG Korea, consumer durable giant, progressing well in The company can be
considered good for normal 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 / Factory 1 : |
Plot No. 51,
Udyog Vihar Surajpur Kasna Road, Greater Noida, Gautam Budh Nagar, Noida – 201 306, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2560900/940/2560960 |
|
Fax No.: |
91-120-2560918/2560921/2560926/2560198 |
|
E-Mail : |
|
|
Website: |
|
|
Area:
|
47 Acre |
|
Location:
|
Industrial |
|
|
|
|
Factory 2 : |
B-243 Ground Floor, Okhla Industrial Area, Phase-1, New Delhi-110020, |
|
Tel. No.: |
91-11-26371208 |
|
|
|
|
Factory 3 : |
Plot No. A-5,
MIDC Ranjangaon, Taluka Shirur, Pune-412220, |
|
|
|
|
Factory 4 : |
|
|
|
|
|
|
B -243 Ground floor, Okhla Industrial Area, Phase – I, |
|
Tel No.: |
91-11-26371208 |
|
|
|
|
Branches : |
Located At : ·
Ahmedabad
·
·
Bhubaneshwar
·
Kolkata ·
·
Chennai
·
·
·
·
Bambolim,
·
Guwahati
·
·
Hubli ·
·
Jaipur ·
·
Sonepat ·
Lukhnow ·
·
Mumbai
·
Pune ·
Katoratalab ·
Rachi
|
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Moon Bum Shin
|
|
Designation : |
Director |
|
Address : |
1/21, 1st
Floor, Shanti Niketan, |
|
Date of
Birth/Age : |
05.10. 1954 |
|
Date of
Appointment : |
06.01.2005 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
FF A 15/34,
Vasant Vihar, |
|
Date of
Birth/Age : |
01.03.1960 |
|
Date of
Appointment : |
25.03.2006 |
|
|
|
|
Name : |
Mr. Soon Seop Jung |
|
Designation : |
Director |
|
Date of
Birth/Age : |
25.04.1961 |
|
Date of
Appointment : |
25.03.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Kumar
Panda |
|
Designation : |
Company Sectary |
|
Address : |
B – 1, LG Housing
Society, Plot No. 3, Sector, Greater Noida, District – Gautam Budh Nagar, |
|
Date of
Birth/Age : |
01.06. 1966 |
|
Qualification:
|
B. Com, FCA |
|
Date of
Appointment : |
21.01. 2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
LG Electronics
INC, |
|
113128726 |
|
Ashish Agrawal |
|
1 |
|
Vipin Gupta |
|
1 |
|
Yasho Vardhan
Verma |
|
1 |
|
Ajay Sood |
|
1 |
|
Kishor Kumar Kaul |
|
1 |
|
Vinod Kumar |
|
1 |
|
|
|
|
|
Total |
|
113128732 |
As on 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader in Colour Televisions, Flat Panel Display, Air
Conditioner, Refrigerators, Microwave Ovens, Washing Machines, Compressors,
Vacuum Cleaner, Optical Disk Drive, Audio and Digital Video Display Systems,
Monitors and GSM Mobiles. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Products : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Exports : |
|
||||||||||||||||||||||
|
Products : |
Electronics Components – Colour TV, Refrigeration, GSM Phones and Raw
materials |
||||||||||||||||||||||
|
Countries : |
·
·
·
·
·
·
·
·
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Imports : |
|
||||||||||||||||||||||
|
Products : |
Electronic
components and raw materials |
||||||||||||||||||||||
|
Countries : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Terms : |
|
||||||||||||||||||||||
|
Selling : |
Cash or other
terms |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Purchasing : |
Credit (30-60
days), On Letter of Credit and Open Credit, Others and L/C terms. |
PRODUCTION STATUS
(As on 31.03.2009)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Colour T.V. |
Nos. |
2850000 |
2475456 |
|
Refrigerators |
Nos. |
2525000 |
1367303 |
|
Washing Machines |
Nos. |
720000 |
607030 |
|
Air Conditioners |
Nos. |
900000 |
-- |
|
Micro Oven |
Nos. |
-- |
541408 |
|
Colour Monitors |
Nos. |
1030000 |
42833 |
|
Desktop Pcs |
Nos. |
150000 |
2045398 |
|
GSM |
Nos. |
2406000 |
2666202 |
|
Sub Assemblies Compressors |
Nos. |
3450000 |
7335244 |
GENERAL INFORMATION
|
Suppliers : |
LG |
|
|
|
|
No. of Employees : |
Around 3000 |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Deolitte Haskins and Sells Chartered
Accountants |
|
Address : |
3rd
Floor, MCT House one Okhla Center, Block A, Okhla Institutional Area, New Delhi
– 110 025, India |
|
|
|
|
Holding Company: |
LG Electronics INC, |
|
|
|
|
Associates: |
·
LG
Soft It was promoted by the third largest ·
LG
Chemicals Limited, ·
LG
Construction Company Limited, ·
LG
International Limited, ·
LG Electronics
·
LG Electronics Deutschland GBBH PT ·
LG
Electronics Display Devices ·
LG Electronics · LKG Electronics Gulf FZE · LG Electronics HK Limited, PT · LG Electronics Indonesia Limited · LG Electronics Japan Inc. · LG Electronics Middle east Company limited · LG Electronics Magyar Kft · LG Electronics (M) SDN , BHD · LG Electronics Polska Sp Zo O · LG Electronics Peru SA · LG Electronics Panama SA · LG Electronics SA Private Limited · LG Electronics De Sao Paulo Limited · LG Electronics United Kingdom, Limited · LG Electronics Ukraine Company Limited ·
LG Electronics Wales Limited ·
LG
Electronics Almaty Kazak Company Limited ·
LG
Electronics ·
LG
Electronics Australia Private Limited |
|
|
|
|
Subsidiaries |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115000000 |
Equity shares |
Rs.10/- each |
Rs.1150.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113128732 |
Equity shares |
Rs.10/- each |
Rs.1131.287
millions |
|
|
|
|
|
Note:
Of the above equity shares, 479 273 shares of Rs.10/-
each were allotted as fully paid up pursuant to contracts for consideration
other than cash.
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 |
1131.287 |
1131.287 |
1131.287 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
15681.150 |
12206.653 |
10210.828 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16812.437 |
13337.940 |
11342.115 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
3067.842 |
|
|
2] Unsecured Loans |
0.000 |
226.322 |
220.660 |
|
|
TOTAL BORROWING |
0.000 |
226.322 |
3288.502 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16812.437 |
13564.262 |
14630.617 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4952.825 |
4327.115 |
4077.966 |
|
|
Capital Advance |
56.738 |
12.164 |
0.000 |
|
|
Capital work-in-progress |
124.459 |
108.444 |
165.948 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
687.116 |
729.310 |
663.610 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15466.737
|
10779.326
|
12308.531 |
|
|
Sundry Debtors |
5214.147
|
5479.526
|
5218.853 |
|
|
Cash & Bank Balances |
5432.125
|
2938.607
|
1325.057 |
|
|
Other Current Assets |
2817.080
|
2465.653
|
906.718 |
|
|
Loans & Advances |
1858.010
|
1778.430
|
2342.585 |
|
Total
Current Assets |
30788.099
|
23441.542
|
22101.744 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1569.900
|
1303.300 |
|
|
|
Other Current Liabilities |
16859.264
|
13051.080
|
11675.531 |
|
|
Provisions |
1367.636
|
699.933
|
703.120 |
|
Total
Current Liabilities |
19796.800
|
15054.313
|
12378.651 |
|
|
Net Current Assets |
10991.299
|
8387.229
|
9723.093 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16812.437 |
13564.262 |
14630.617 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
106911.000 |
|
69526.905 |
|
|
|
Other Income |
|
|
2034.386 |
|
|
|
TOTAL (A) |
106911.000 |
86271.000 |
71561.291 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
51661.393 |
|
|
|
Manufacturing Expenses |
|
|
1690.930 |
|
|
|
Employees Remuneration and Benefits |
100845.000 |
102784.700 |
2405.500 |
|
|
|
Administrative, Sales and Marketing Expenses |
|
|
11031.938 |
|
|
|
TOTAL (B) |
100845.000 |
102784.700 |
66789.761 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6066.000 |
4126.300 |
4796.708 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.000 |
103.000 |
148.234 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6058.000 |
4023.300 |
4648.474 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1337.000 |
1275.000 |
1130.197 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4721.000 |
2748.300 |
3518.277 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1247.000 |
752.500 |
1002.286 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3474.000 |
1995.800 |
2515.991 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11451.000 |
9455.000 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
14925.000 |
11451.000 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
15037.00 |
14626.000 |
NA |
|
|
|
Service Warranty Claims |
246.000 |
274.000 |
NA |
|
|
|
Reimbursement of Expense |
506.000 |
1774.000 |
NA |
|
|
TOTAL EARNINGS |
15789.000 |
16674.000 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
8752.000 |
10290.000 |
NA |
|
|
|
Raw Materials |
43367.000 |
28484.000 |
NA |
|
|
|
Service Spares |
635.000 |
476.000 |
NA |
|
|
|
Capital Goods |
135.000 |
987.000 |
NA |
|
|
|
Others |
30.000 |
28.000 |
NA |
|
|
TOTAL IMPORTS |
52919.000 |
40265.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.74 |
17.66 |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.42
|
2.31 |
3.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
5.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.21
|
9.90 |
13.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.21 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.18
|
1.15 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.56 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
Background:
The company was incorporated in
FINANCE:
The Company was reaffirmed Bank Loan
rating under BASEL II norms as AA/Stable for Long Term Debts and P1+ for Short
Term Debts. The company has been able to minimize the Debt level significantly
during the year. The company has started using the Host 2 Host Payment
Mechanism which eliminates manual intervention. The company has also conducted
Thermography Testing of Noida and Pune factory and started In-House Insurance
Claim Settlement during the year. Supply Chain Financing was further
strengthened through On-Line Vendor Financing and SDM (Self Development
Manufacturer) Financing. During the year, the company has done many Innovations
in Finance Processes which has resulted into better working capital management.
PERFORMANCE
REVIEW
In spite of slowdown in the Economy not
completely over, the Company registered an impressive growth of 24% in
Turnover. The Profitability margin continued to be under pressure on account of
higher raw material prices. Profit before Tax and Profit after Tax improved by
72% and 74% respectively. The net profit margin increased from 2.31 % to 3.25
%.
FUTURE
OUT LOOK
The Company is marching ahead strongly
to further consolidate its presence in the Country and explore new global
market. The Company is confident to register impressive growth in all
parameters. The Strong Brand loyalty of customer will help immensely to the
Company.
PRODUCTION
FACILITIES
Greater
NOIDA:
In Refrigerator Segment, Swing production started between
Noida and Pune to save logistic costs and faster delivery to customer. Level 4
Certification was implemented to reduce Inventory level and lead time to the
customer. Capacity increased for R2 Line by 43%.
In Air-Conditioner segment, R410 refrigerant (Environment
Friendly) was implemented, 4star (energy efficient) Window AC models and 5 Star
+ (energy efficient) models in Spilt AC category were introduced. Apart from
that, Cassette Indoor unit manufacturing and dedicated line for Indoor –
Outdoor units to improve productivity and efficiency were established. Line
Capacity increased by 16%.
PUNE:
In Air-Conditioner segment, 100% models were upgraded to
Energy Efficient – BEE Certified. Flat Panel Look with 5 Star Energy rating in
0.75 Ton
In CTV division, glossy Ultra slim model
category was strengthened. In FPD division, LCD and LED Models ranging from 19” to 50” category were
launched. Flow Line was installed to increase the Production Capacity by 80%.
Molding of 26” and 32” Model were localized. (3 Models) Introduction of Jazz
Theater an Indian Insight Model 22” and 26” LU Series.
In Monitor segment, Launched lower power
consumption LCD MNT models in 15.6”/18.5” category. Launched LED MNT in
18.5”/20” segment. Developing cost effective and low power 20” LED MNT.
Planning to develop Gamming MNT.
Developing N/work MNT, where in 5 MNT
can be used with a single PC and would work as an independent PC.
In Refrigerator Segment, Changeover of 1 Door models
230L/270L for LVS+5 star. Energy efficient models 4 star for CS category.
In GSM Segment, Started production of touch
phones in Pune, Successful launch of customer insight based models like GM200
(High battery backup and High sound volume), Successful localization of accessories
like charger, data CD etc.
In ODD Segment, Introduction of new MECHA
Assembly for high speed read and write operation (JR12 Series), Implementation
of virtual testing (Media Less Testing) Line architecture change with
multilayer jig design to improve productivity.
ISO
9000, 14001 and OHSAS 18001:2007 CERTIFICATIONS
The Company continues to follow
International standards and carry the ISO 9000:2000, and ISO 14001:2004, OHSAS
18001:2007 and BS EN 16001:2009 Certifications.
Bankers Charges Report
as per Registry
|
Name of the
company |
LG ELECTRONICS INDIA PRIVATE LIMITED |
|
Presented By |
Mr. Pradeep Panda, Company Secretary |
|
1) Date and
description of instrument creating the change |
Agreement for overdraft,
cash, credit, loan against hypothecation of revolving stocks and other
movables assets and also present and future book debts, dated 19.04.2004 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Line of credit of
Rs. 676.950 millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
First charge by
way of hypothecation of stock in Trade and book debts both present and future
and of the company on a pari passu
with other existing charge holders. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The Line of credit of Rs. 676.950 millions can be availed as documentary credit
foreign / Inland |
|
5) Name and
Address and description of the person entitled to the charge. |
The Address: DLF phase II, |
|
6) Date and brief description of instrument
modifying the charge |
Dated 20.05.2005 Agreement for
overdraft / cash credit loan against hypothecation of revolving stocks and
other movables assets and also present and future book debts |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Line of credit
has been increased from Rs. 1386.000 millions to Rs. 2042.175 millions. |
|
Corporate
identity number of the company |
U32107UP1997031138 |
|
Name of the
company |
LG ELECTRONICS
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot
No. 51 Uyog Vihar, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
Deutsche Bank, ECE
House, Ground Floor, 28 Kasturba Gandhi marg, New Delhi 110001, Delhi, India Email ID: shrutee.wadhwa@db.com |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 06.07.2009 |
|
Date of instrument
Creating the charge |
06.07.2009 |
|
Amount secured by
the charge |
Rs. 672.400
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest To be declined mutually from time to time Terms of repayment To be decided mutually from time to time Margin 30% Extent and operations of the Charges Pari passu Charge Others As per facility
letter dated 06.11.2008 |
|
Short particular
of the property or asset(s) charged |
All stocks in the
both resent and future consisting of raw materials, finished goods, goods in
process, of manufacturing and other merchandise whatsoever and all present
and future book debts. |
FIXED ASSETS
·
·
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Licenses and Software
·
IT Software
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 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. 45.21 |
|
|
1 |
Rs. 72.54 |
|
Euro |
1 |
Rs. 62.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
56 |
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.