Business
information report
1. Summary Information
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Country |
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Company Name |
PHILIPS
ELECTRONICS INDIA LIMITED |
Principal Name 1 |
Mr. Murali Sivaraman |
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Status |
Good |
Principal Name 2 |
Mr. S. M. Datta |
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Registration # |
21-6663 |
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Street Address |
7, |
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Established Date |
31.01.1930 |
SIC Code |
-- |
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Telephone# |
91-33-24753621/24753627/24964560/26912000
/ 24867123 |
Business Style 1 |
Manufacturer of Electronic Products. |
|
Fax # |
91-33-24753839/24938722 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Lamps |
|
|
# of employees |
3403 |
Product Name 2 |
Software Development Services |
|
Paid up capital |
Rs.
575,173,000 |
Product Name 3 |
Radio Broadcast receivers / combination sets. |
|
Shareholders |
Foreign holding - 96.18% |
Banking |
Punjab National Bank |
|
Public Limited Corp. |
-- |
Business Period |
80 years |
|
IPO |
-- |
International Ins. |
- |
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Public |
-- |
Rating |
A (68) |
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Related
Company |
|||
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Relation - Holding Company |
Country - |
Company
Name |
Koninklijke Philips Electronics N. V |
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Note |
- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2009 |
(Unit: Indian Rs.) |
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|
Assets |
Liabilities |
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Current Assets |
9,857,000,000 |
Current Liabilities |
9,084,000,000 |
|
Inventories |
3,608,000,000 |
Long-term Liabilities |
150,000,000 |
|
Fixed Assets |
3,287,000,000 |
Other Liabilities |
0 |
|
Deferred Assets |
352,000,000 |
Total Liabilities |
9,234,000,000 |
|
Invest& other Assets |
181,000,000 |
Retained Earnings |
7,476,000,000 |
|
|
|
Net Worth |
8,051,000,000 |
|
Total Assets |
17,285,000,000 |
Total Liab. & Equity |
17,285,000,000 |
|
Total Assets (Previous Year) |
16,436,000,000 |
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|
|
P/L Statement as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
32,527,000,000 |
Net Profit |
1,175,000,000 |
|
Sales(Previous yr) |
31,004,000,000 |
Net Profit(Prev.yr) |
1,351,000,000 |
MIRA
INFORM REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
PHILIPS
ELECTRONICS INDIA LIMITED |
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Registered Office : |
7, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
31.01.1930 |
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Com. Reg. No.: |
21-6663 |
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CIN No.: [Company
Identification No.] |
U31902WB1930PLC006663 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP17956B |
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PAN No.: [Permanent
Account No.] |
AACCKO806B |
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Legal Form : |
A closely held
public limited company since all the shares in the market has been bought by
Philips, |
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Line of Business : |
Manufacturer of Electronic Products. |
RATING & COMMENTS
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MIRA’s Rating : |
A (68) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 32204000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The company is a
subsidiary of Koninklijke Philips electronics
n.v. a multinational
entertainment giant. It is a well established
company having good track. Financial position of the company appears to be
sound. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. 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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
7, |
|
Tel. No.: |
91-33-24753621/24753627/24964560/26912000
/ 24867123 |
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Fax No.: |
91-33-24753839/24938722/26912499 |
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E-Mail : |
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Website : |
www.india.philips.com |
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Location : |
Owned |
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Corporate Office : |
8th
Floor, 9B |
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Tel. No.: |
91-124-4606000 |
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Fax No.: |
91-124-4606666 |
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Plants
Locations / Warehouse : |
Lamp Factory, Kalwa
Kalwa Light Factory,
3, MIDC, Industrial Area, Thane-Belapur Road, Post Box No. 79, Thane - 400
601, Maharashtra, India Tel. No.
91-22-27600300-304 Fax No.
91-22-27600312 / 313 Consumer Electronics Factory, Pimpri
Plot 80, Bhosari
Industrial Estate, P. O. Box No. 12, Pune - 411 026, Tel. No.
91-20-27120541 (10 Lines) Fax No.
91-20-27122049 Enabling Technologies Group, loni
Loni Kalbhor -
412 201 (Near Pune Central Railway), Tel. No.
91-20-26913156 Enabling Technologies Group. Kolkata
4 and 5, Tel. No.
91-33-22447120 / 8243 / 1335 Fax No.
91-33-22440012 Luminaire Business Unit
P/65, Tel No.
91-33-24014245 / 4 Taratolla Light Factory
I, Tel. No.
91-33-24695446/24695466 Fax. No.
91-33-24692197 Mohali Light Factory
Phase IX,
Industrial Focal Point, SAS Nagar, Mohali, Tel. No.
91-712-2211137 Fax. No.
91-172-2121685 Vadodara Light Factory
Kural Village, Tel. No.
91-2662-242333 (5 Lines) Fax. No.
91-2662-242308 |
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Regional
Offices / Branch : |
Northern
Region 9th
Floor, 9B Tel.
: 91-124-4606000 Fax
: 91-124-4606666 Eastern
Region 7, Tel.:
91-33-2475 3621 Fax
: 91-33-2475 3839 Western
Region Tel.:
91-22-6691 2000 Fax
: 91-22-6691 2499 Southern
Region Tel.
91-44-6650 1000 Fax
: 91-44-6650 1085 Royal
Philips Electronics Koninklijke Philips Electronics N. V. Breitner Center, Amstelplein2, 1096 BC Amsterdam, P. O. Box 77900, 1070 MX Amsterdam, The Netherlands Tel.-.31-20-5977777 |
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Overseas Offices
: |
Royal Philips
Electronics, Koninklijke Philips, Amstelplein 2, |
DIRECTORS
AS ON 29.06.2010
|
Name : |
Mr. S. M. Datta |
|
Designation : |
Chairman |
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Name : |
Mr. Murali Sivaraman |
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Designation : |
Vice Chairman and Managing Director |
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Name : |
Mr. K. Ramchandran |
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Designation : |
Vice Chairman and Managing Director |
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Address : |
13, Navroze Apartments, |
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Date of
Birth/Age : |
22.06.1949 |
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Qualification
: |
BE (Hons) MBA – IIM (Kolkata) |
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Date of
Appointment : |
17.05.1993 |
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Date of
Ceasing : |
03.10.2007 |
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Previous
Employment |
Voltas Limited |
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Name : |
Mr. Cornells
J. M. Reuvers |
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Designation : |
Executive Director |
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Name : |
Mr. S. Venkataramani |
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Designation : |
Executive Director |
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Address : |
A 14/14 First Floor, Vasant Vihar, |
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Date of Birth/Age : |
16.06.1946 |
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Date of
Appointment : |
13.03.2009 |
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Name : |
Mr.
Alexius Collette |
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Designation : |
Executive Director |
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Name : |
Mr. Vineet Kaul |
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Designation : |
Executive Director |
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Name : |
Mr.
Rajeev Bakshi |
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Designation : |
Non Executive Director |
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Name : |
Mr. Adrianus Antonius Schevers |
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Designation : |
Director |
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Address : |
Flat B, 27/F |
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Date of Birth/Age : |
15.02.1948 |
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Date of Ceasing : |
12.03.2008 |
KEY EXECUTIVES
|
Name : |
Mr. R. J. Wani |
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Designation : |
Company Secretary |
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Date of Birth/Age : |
14.12.1958 |
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Date of
Appointment : |
31.10.1999 |
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Name : |
Mr. Datye VS |
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Designation : |
Senior General
Manager- HTP |
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Name : |
Mr. Desai R. A. |
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Designation : |
Senior General
Manager – Lighting |
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Name : |
Mr. Gupta V. K. |
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Designation : |
Senior General
Manager – Lighting |
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Name : |
Mr. Arun Maira |
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Designation : |
Director |
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Name : |
Mr. Kaul Vineet |
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Designation : |
Director and
Senior Vice President – HRM |
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Name : |
Mr. Kohli Sudhir |
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Designation : |
General Manager –
CE |
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Name : |
Mr. Majmudar T.
K. |
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Designation : |
General Manager –
DAP |
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Name : |
Mr. Mallick
Santanu |
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Designation : |
Senior General
Manager – F and A Lighting |
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Name : |
Mr. Nandakishore
R. |
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Designation : |
Senior General
Manager – Lighting Commercial |
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Name : |
Mr. Nambissan
Ashok |
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Designation : |
Senior General
Manager – ICI India Limited Legal and Sec and
General Counsel |
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Name : |
Mr. Ramachandran
K. |
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Designation : |
Vice Chairman and
Managing Director |
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Name : |
Mr. Sharma Rakesh |
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Designation : |
Vice Chairman and
Managing Director |
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Name : |
Mr. Subramanian
Soundarajan |
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Designation : |
Industrial Head –
Chief Executive |
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Name : |
Mr. Sukumaran
Suresh |
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Designation : |
Senior General
Manager – Chief Executive |
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Name : |
Mr. S. Talwar |
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Designation : |
Industrial Head –
Lighting |
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Name : |
Mr. Vaidya Anil
V. |
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Designation : |
Senior General
Manager – IT |
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Name : |
Mr. Vankatramani.
S. |
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Designation : |
Director and Senior
Vice President Lighting |
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Name : |
Mr. Agarwal
Sudhir |
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Designation : |
Senior General
Manager – Chief Executive |
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Name : |
Mr. Chopra Rejeev |
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Designation : |
Senior General
Manager – Luminaries |
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Name : |
Mr. Inglis John
Bruce |
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Designation : |
Director and
Senior Vice President – Finance |
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Name : |
Mr. Karwal Rajeev |
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Designation : |
Senior Vice
President – Chief Executive |
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Name : |
Mr. Saharsrabudhe
MV |
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Designation : |
Senior General
Manager – Chief Executive |
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Name : |
Mr. Sengupta S. |
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Designation : |
Senior General
Manager – Projects |
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Name : |
Mr. Shivakumar D. |
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Designation : |
Vice President –
Chief Executive |
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Name : |
Mr. Srinivasant
R. |
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Designation : |
Senior General
Manager – F and A CE |
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Name : |
Mr. Van Heumen
Geet A. M. |
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Designation : |
Director and
Senior Vice President - Finance |
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|
Name : |
Mr. Ashok
Nambissan |
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Designation : |
Senior General
Manager - Legal and Sec and General
Council |
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Qualification
: |
B. L., BCL, Dip
PM |
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Date of
Appointment : |
28.06.1999 |
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Previous
Employment |
ICI India Limited
|
|
|
|
|
Name : |
Mr. Geert A. M.
Van Heumen |
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Designation : |
Director and
Senior Vice Presidence - Finance |
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Qualification
: |
H.B. S.
Coml./Economical SPD (equive to IMCA/ACCA), Additional Cournces in Marketing,
I. T. Logs, Finance and General Marketing |
|
Date of
Appointment : |
01.08.2000 |
|
Previous
Employment |
KPENY |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On (30.06.2008)
|
Names of Shareholders |
No. of Shares |
|
Rasila Shantilal Mehta |
10780 |
|
Hitesh Shantilal Mehta |
10000 |
|
Koninklijke Philips Electronics N.V. |
67774780 |
|
Payal Bhanshali |
82050 |
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Suresh Gupta |
13600 |
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Hina Kirti Doshi |
10000 |
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Sushila Nayar |
9300 |
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Punit Kumar |
4000 |
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Bank of |
2828 |
AS ON 29.06.2010
|
Equity Share
Breakup |
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|
Category |
Percentage
|
|
Foreign holding (Foreign institutional investor(s), Foreign
Companie(s) Foreign financial institutional(s), Non-resident indian(s) or
Overseas corporate bodies or other) |
96.18 |
|
Nationalised or other banks |
0.02 |
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Bodies corporate |
0.08 |
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Other top fifty (50) shareholders |
0.43 |
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Others |
3.29 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Electronic Products. |
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Products : |
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Brand Names : |
“PHILIPS” |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Credit and
L/C |
PRODUCTION STATUS (As on 31.12.2008):-
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Electronic Components |
Pcs. in ‘000 |
6000 |
-- |
-- |
|
Television receivers |
Pcs. in ‘000 |
250 |
-- |
-- |
|
Radio Sets, Tape Recorders, Compact Disc Players/ Systems/Combination
Sets |
Pcs. in ‘000 |
1500 |
-- |
-- |
|
Lamps |
Pcs. in ‘000 |
511171 |
345083 |
327552 |
|
Glass Shells |
Pcs. in ‘000 |
146230 |
547976 |
518135 |
|
Filaments |
Pcs. in ‘000 |
750000 |
450000 |
433698 |
|
Molybdenum Wire |
Kgs. |
12000 |
12000 |
119 |
|
Accessories for Fittings |
Pcs. in ‘000 |
7500 |
7500 |
3096 |
|
Electronic HF Ballasts |
Pcs. in ‘000 |
150 |
1500 |
895 |
|
Electro Medical Apparatus |
Pcs. |
24615 |
24615 |
-- |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturers,
Wholesalers and Government Bodies |
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No. of Employees : |
3403
Approximately |
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Bankers : |
Ř
Punjab
National Bank, Kolkata, West Ř
Corporation
Bank, Kolkata, West Ř
ABN
Amro Bank N.V., Kolkata, West Ř
Standard
Chartered Grindlays Bank, Kolkata, West Bengal, Ř
Citibank
N A, Kolkata, West Ř
Bank
of Ř
Bank
of Maharashtra, Lokmangal, 1501, Shivaji Nagar, Pune – 411 005, Ř
State
Bank of |
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Facility: |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
KMPG House, Kamala Mills Compound, 448, Senapati Bapat Marg,
Lower Parel, Mumbai – 400 013, |
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Pan No : |
AAASK1415H |
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Holding
Company: |
Koninklijke Philips
Electronics N. V, Breitner Centre, Amstelplein 2, I096, BC, Tel. No. 31-20-5977777 Fax No. 31-20-597
7150 Alpha X-Ray Technologies ( |
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Membership: |
Confederation of
Indian Industry |
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Overseas Fellow
Subsidiary Companies : |
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CAPITAL STRUCTURE
AS ON 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
92000000 |
Equity Shares |
Rs. 10/- each |
Rs. 920.000 millions |
|
20000000 |
Non -convertible cumulative redeemable preference shares |
Rs. 10/- each |
Rs. 200.000 millions |
|
Total |
Rs. 1120.000 millions |
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Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
63400721 |
Equity Shares |
Rs.10/- each |
Rs. 634.007 millions |
|
5883479 |
Less: Equity Shares |
Rs.10/- each |
Rs. 58.834 millions |
|
Total |
Rs. 575.173 millions |
||
NOTES:
(1) Of the above:
(a) 55,290,182 (31.12.2008
- 61,094,012) equity shares are held by Koninklijke Philips Electronics
N.V.(“KPENV”), the holding company.
(b) 24,757,798
equity shares were allotted without payment being received in cash, comprising of
21,875 equity shares allotted pursuant to a contract and 24,735,923 equity
shares allotted pursuant to the schemes of amalgamation in earlier years.
(c) 16,366,000
bonus shares were issued as fully paid up by capitalisation of reserves in
prior years.
(2) Pursuant to
Board of Directors’ meeting held on March 13, 2009 and members’ approval at the
Company’s Annual General Meeting held on June 12, 2009, the Company during the
year, bought back and extinguished 5,883,479 equity shares at a price of Rs.242/-
per equity share.
During the year
2008, the Company bought back and extinguished 6,860,012 equity shares at a
price of Rs.260/- per equity share.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
575.000 |
634.000 |
703.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7476.000 |
8197.000 |
8709.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8051.000 |
8831.000 |
9412.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
105.000 |
114.000 |
103.000 |
|
|
2] Unsecured Loans |
45.000 |
46.000 |
36.000 |
|
|
TOTAL BORROWING |
150.000 |
160.000 |
139.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8201.000 |
8991.000 |
9551.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3287.000 |
2325.000 |
2590.000 |
|
|
Capital work-in-progress |
176.000 |
500.000 |
104.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.000 |
442.000 |
16.000 |
|
|
DEFERREX TAX ASSETS |
352.000 |
296.000 |
240.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3608.000
|
2849.000
|
2255.000 |
|
|
Sundry Debtors |
3167.000
|
2979.000
|
3120.000 |
|
|
Cash & Bank Balances |
4251.000
|
5060.000
|
6747.000 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
2439.000
|
1985.000
|
1430.000 |
|
Total
Current Assets |
13465.000
|
12873.000
|
13552.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7294.000
|
6011.000
|
|
|
|
Current Liabilities |
449.000
|
323.000
|
5780.000 |
|
|
Provisions |
1341.000
|
1111.000
|
1171.000 |
|
Total
Current Liabilities |
9084.000
|
7445.000
|
6951.000 |
|
|
Net Current Assets |
4381.000
|
5428.000
|
6601.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8201.000 |
8991.000 |
9551.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
32527.000 |
31004.000 |
28455.000 |
|
|
|
Other Income |
137.000 |
449.000 |
377.000 |
|
|
|
TOTAL |
32664.000 |
31453.000 |
28832.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material cost |
18980.000 |
18620.000 |
16770.000 |
|
|
|
Expenses |
11238.000 |
10312.000 |
9017.000 |
|
|
|
TOTAL |
30218.000 |
28932.000 |
25787.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2446.000 |
2521.000 |
3045.000 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
162.000 |
206.000 |
438.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
51.000 |
56.000 |
51.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2557.000 |
2671.000 |
3432.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
707.000 |
565.000 |
538.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1850.000 |
2106.000 |
2894.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
675.000 |
755.000 |
991.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1175.000 |
1351.000 |
1903.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2762.000 |
1695.000 |
150.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
118.000 |
136.000 |
190.000 |
|
|
|
Dividend |
115.000 |
127.000 |
140.000 |
|
|
|
Tax on Dividend |
20.000 |
21.000 |
28.000 |
|
|
BALANCE CARRIED
TO THE B/S |
3684.000 |
2762.000 |
1695.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Piece Parts |
NA |
804.000 |
880.000 |
|
|
|
Spares |
NA |
29.000 |
21.000 |
|
|
|
Capital Goods |
NA |
342.000 |
177.000 |
|
|
TOTAL IMPORTS |
NA |
1175.000 |
1078.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.23 |
17.55 |
21.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
3.59
|
4.29 |
6.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.68
|
6.79 |
10.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.95
|
13.85 |
17.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.23 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.14
|
0.86 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
1.72 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
History
Philips
Its consumer electronic products are manufactured at its plants in Pimpri and
Kolkata. Electronic components, passive devices and printed circuit boards for
consumer electronic products are manufactured at Loni, Pune. The company
supplies components to other companies as well. The Kalwa (Thane) plant
manufactures a range of lamps such as GLS lamps, fluorescent lamps, mercury
vapour/sodium vapour lamps and their components such as glass shells, filament
wires, etc.
The company diversified into the telecommunications segment to manufacture
two-way radios and pagers. It set up a joint venture project with Webel
Telecommunications in
Philips
The parent company, Royal Philips Electronics N.V Netherlands, had made an open
offer to buy Philips
The Amalgamation of Philips Glass India Limited, Electric Lamp Manufacturers (
The Directors submit their report and audited accounts for
the year ended December 31, 2006.
The Indian economy appears set on a sustainable high-growth trajectory with GDP
growth averaging 8% over the last four years. In the first nine months of the
current fiscal year, industrial production has grown 10.8% reflecting continued
economic buoyancy. The strong surge in domestic consumption in the housing,
automotive and consumer durable sectors is a signal of overall optimism and
confidence in the economy. Higher foreign direct investment inflows, growing
savings rate and the anticipated larger government outlays in agriculture, health
and the social services support growth momentum. However concerns over
inflation and the Central bank's monetary policies could contain credit
availability in the coming year thereby moderating growth.
Sales for the year ended December 31, 2006 fell marginally
by 7%, from Rs.28389 million to Rs 26486 millions. All the businesses reported
robust growth in sales, except for Consumer Electronics. Medical Systems which
grew by 22%, Domestic Appliances and Personal Care, which grew by 19% and
Lighting which grew by 12%, were the strong performers during the year 2006.
Despite the drop in sales, operating profit increased by 40% on the back of
profitable growth of the Lighting and Software businesses. Exceptional items
for the year include profits of Rs.1261 millions on account of sale of
Semiconductors and Speaker Systems businesses, profits of Rs. 362 millions on
sale of assets and a charge of Rs 79 millions under Employees' Voluntary
Retirement Scheme.
OUTLOOK:
Against the
backdrop of a global financial meltdown, the Indian economy proved to be
resilient. Never theless, the construction sector in
The Lighting and
Healthcare businesses posted robust top-line growth and an increase in
respective market share. The profitability of these businesses improved
substantially over the previous year. Both the acquired companies, Alpha X-Ray
Technologies (
build a strong
go-to-market channel and product portfolio in the Cardiovascular and X-Ray
value spaces. Operating margins for the Company were adversely impacted by the
mix and integration of the acquired companies. The Philips Innovation Campus
(PIC),
MERGER
The Directors are
pleased to announce the merger of Alpha X-Ray Technologies (
Financial
performance
Sales for the year
ended December 31, 2009, increased by 4%. The Lighting Sector, which grew by
12%, and the Healthcare Sector, which grew by 22%, were the strong performers
of 2009. Operating profit during the year dropped by Rs 212 million largely due
to lower sales and eroding margin in the Consumer Lifestyle Sector. Exceptional
items for the year include profits of Rs 342 million from the sale of property,
charge of Rs 175 million towards restructuring expenses of the Consumer
Lifestyle Sector and a charge of Rs 5 million under the Employees’ Voluntary
Retirement Scheme.
BUSINESS PERFORMANCE
The Notes to the
Profit and Loss Account for the year provide segment results. The required
disclosure is made
below for the
Lighting, Consumer Lifestyle, Innovation Campus (Software), and Healthcare
Sectors.
LIGHTING
The Sector grew by
12%, the seventh consecutive year of double-digit growth despite a sluggish
first six months due to the difficult economic environment and the general
election. The growth was driven by their continued channel expansion in the
Consumer segment and increased share acquisition in the professional segment.
Automotive and Consumer Luminaries businesses registered the highest ever
growth. A New Product Category, MODULAR SWITCHES, was launched and met with success
in the market place. New products in all categories were introduced.
Investments in channels such as rural and replacements were further leveraged
to improve reach and sales. In the professional segment, the Sector got the
maximum share of the 2010 Commonwealth Games business; (a sizeable amount of
Road and Airport Lighting business). Inroads were also made into the Retail and
LED segments. Manufacturing capacity in both factories at Mohali and Vadodara
were further enhanced to serve the needs of the local and global market. Both
factories won CII awards for being energy-efficient units. The Vadodara unit
also won the CII sustainability award and the Mohali unit was certified as an
OHSAH BS18001 Compliant Unit (Occupational Health and Safety assessment
series). Their industrial footprint has been realigned to reduce cost and
improve quality.
In 2010, the
Sector will focus more on the B2B sector through segment based marketing, in
line with the global strategy and will rely more on lighting solutions to
increase its market presence. The Business intends to reap the benefits of the
intended focus on LEDs, energy-saving products, new product categories viz.
modular switches and Consumer Luminaries to grow and improve its market share.
CONSUMER LIFESTYLE
In 2009 the sector
largely focused on strengthening market share in key categories such as DVDs,
kitchen appliances and personal care segments, and on building talent,
competencies and processes, to drive Sustainable Profitable growth through
portfolio choices.
The Consumer
Lifestyle Sector improved its market shares in the “Health and Wellbeing”
categories – their strategic focus area. These categories enjoyed a growth of
18% in 2009 on the back of 19% growth in Domestic Appliances, 37% growth in
Personal Care and 13% growth in Accessories. In Domestic Appliances, growth was
aided by strong performances in lead categories viz., mixer grinders, juicers
and irons as well as gains from Modern Retail. For the second year in a row,
their Intelligent Water Purifier won the “Water Digest Award” for the Best
Domestic Water Purifier in UV. In the Audio Video Multimedia (AVM) category,
they regained their market leadership position in DVDs after almost four years
and ended the year with a market share of 23.9%. Their Home Theatres category
grew by 13% while the Mainstream Audio segment declined by 25% in line with
market developments. Under the new product category, the Company launched Blu
Ray players and Blu Ray Home Theatre Systems in
HEALTH CARE
The Healthcare
business operates in the Diagnostic Imaging segment, which includes CT, MRI,
X-rays, Cardiovascular Systems, Nuclear Medicine, PET-CT and Ultrasound Imaging
Systems. The business is also a significant player in patient monitoring/critical
care. In 2009, the sector recorded a growth of 22% across all the segments,
winning major contracts across its product range. A significant portion of the
revenues (about 30% of the overall business) were generated from Government
institutions during the year. The sector consolidated its focus on key accounts
management and was able to penetrate some of the competitors’ clients. The
Customer Support business complemented the key accounts management agenda and
contributed its share towards building a long-term and sustainable partnership
with strategic private players.
The Healthcare
sector witnessed heightened activity in business financing during the year.
Customers were supported with innovative business funding models by health care
players. Popular funding models being used included the on-balance sheet
funding, pay per use, public private partnership, long-term funding support
through export credit agencies and funding in foreign currencies. Philips
Healthcare took a strong lead and offered customised solutions to strategic and
key customers. During 2009, the Company successfully completed the first pay
per use contract through PHS solutions. The Healthcare organisation in
INNOVATION CAMPUS (PIC)
In 2009, PIC has
further strengthened their competence in software architectures,
serviceability, viewing, platform and IT Support. PIC also expanded their
competences in the electrical and mechanical area. The Healthcare business
successfully went through a series of audits - CMMI L3(sw) certification, FDA
readiness and ISO 13485
surveillance
audit. Consumer Lifestyle also successfully went through CMMI L3 (sw)
certification. As a part of the global initiative (SHAPE project), IT
Application has geared up to provide second and third line business
applications as well as maintenance support for Philips users across the world.
The PIC team has made a major
contribution to
cost savings at the global level. The outlook for 2010 remains positive with
expected growth in the Healthcare business and IT Applications group, including
a new initiative taken for Lighting R&D projects in PIC. Sales (Export in
Foreign Currency) amounted to Rs. 2.3 billion in 2009 (Rs. 2.4 billion in
2008). PIC’s average employee strength during 2009 was 879 Full Time
Equivalents (FTE) (887 FTE in 2008). During the year personnel in the
Healthcare and IT Application businesses were further increased and personnel
in Consumer Lifestyle business were marginally reduced.
FIXED ASSETS
- Software
- Land
- Buildings
- Leaseholds
- Land
- Improvements
- Other assets
- Machinery and equipment
- Furniture and fittings
- Vehicles
TRADE REFERENCES:
- Jain Auto Industries
- Sri Ram Industries
- Asian Magnetic Devices Private Limited
- Khosla Engineering
Private Limited
- National Torch and
Tubes
- Water Proof
Corporation Private Limited
- ELF Filaments
Industries Private Limited
- Print Aakar Private
limited
- Megh Pack Industries
- Mathure Fluxes
- Crown Engineering
Enterprises
- Meet Engineering
Private Limited
- Wolfarm Moly Products
- Crown Packaging
Private Limited
- Nirmal Arts
- Sehmbey Products
- Shree Santram
Engineers
- Tirupati Plastic
Private Limited
- R. R. Polymer
- Vallabh Chips
Industries
- Shree Padmavati
Minerals
- Rachita Minerals
- Aarkay Chemicals
- Aarkay Lamp Components
- Shivam Industries
- Ashok Industries
- Crown Engineering
- Techno Corporation
- 3 Mall Solition
- Wellman inc
- Parekh Industries
- Primax Engineers
- Reliable Enterprises
- Suhani Enterprises
- Ache Appliances
Private Limited
- Fates Electrical
- Electrical Components
Manufacturing
- Fluro Lighting Private
Limited
- Mitcom Jyoti
- Niroma Industries
- Power Accessories
- Raj Luxmi Poly Plast
Enterprise
- Non-Ferrous Casting
and Company
- Avinash Engineering
- Dheeraj Industries
- Eagle Electronics
- Gurunath Engineers
- Vidyut Teletronics
Limited
- Wizard India Limited
- Seven Seas Incorporate
press releases
Brings the Ultimate Cinematic Viewing Experience to Consumers Superior Performance and Design from Philips Blu-ray Players and Blu-ray Home Theatre Systems
Mumbai
– Reinforcing its position as a leading health and wellbeing company, Philips
launched the ultimate cinematic viewing experience to
Mahesh Krishnan, Vice President, Consumer Lifestyle, Philips
“We’ve also looked at the understanding and perception of Blu-ray and developed
a totally new ecosystem that will help broaden Blu-ray’s appeal in
The world’s first cinema-proportioned LCD television, Cinema 21:9, delivers the
ultimate immersive home cinematic viewing experience. Movies are displayed in
the 21:9 aspect ratio – exactly as the director intended – on its 56” Full-HD
screen. It is also the fastest LCD currently available with a refresh rate of
just 1ms.
Cinema 21:9, partly designed and developed in
Mahesh added, “Cinema 21:9 and our Blu-ray players bring sleek, superior new
technology into homes and give viewers the ultimate cinematic viewing experience
from the comfort of their couch. Our Cinema 21:9 technology sets the benchmark
for LCD TV’s and promises viewers no more movie black bars on the screen. And,
it is of immense pride that our
As a further proof point to the ultimate cinematic viewing experience, Philips
also launched a new range of Blu-ray players and home theatre systems for the Indian
market. The range of five new players includes one of the highest end
standalone Blu-ray players in the market and a value conscious entry level
player. The Blu-ray player prices range from Rs 0.016 millions to 0.079
million.
Pradeep Kumar Ramachandran, Director - Marketing, Audio, Video, Multimedia and
TV, Consumer Lifestyle, Philips
Cinema 21:9 will be sold through an exclusive new dealer channel that Philips
developed just for this product. The selected dealers specialise in complete
home entertainment systems and cater to high end consumer interest. Initially,
the Cinema 21:9 will be available from these dealers in Mumbai and
To support and broaden Blu-ray use in
About Royal Philips
Electronics
Royal Philips Electronics of the
About Philips
Electronics India Limited
Philips Electronics India Limited, a subsidiary of the Netherlands-based Royal Philips Electronics, is the leading health and wellbeing company. Today, Philips is a simpler and more focused company with global leadership positions in key markets of healthcare, lighting and consumer lifestyle, addressing people’s health and wellbeing needs and aspirations as its overarching theme.
As one of the nation's most well-known and well-loved brands, Philips is a part of practically every Indian's life. With the recent launch of Philips Respironics product categories in obstructive sleep apnea management and home respiratory care, home decorative lighting range and ALU range, Philips products find use in virtually every aspect of an individual’s daily life 24X7 - at home, at work, on the move and at rest. Philips stands as a source of easy to use, trendy and innovative internationally acclaimed products with superior design and technology that enhance the quality of consumers' professional and personal lives.
Philips has been operating in
CINEMA 21:9 – The Features:
Cinema 21:9 is the fastest LCD available in the world today; with a refresh rate of just 1ms to allow the fastest on-screen action to be realistically life-like and smoothly rendered thanks to 200Hz Clear LCD. Perfect Contrast helps boost contrast levels to deliver an 80,000:1 dynamic contrast ratio. Picture quality is further enhanced by Perfect Natural Motion that ensures moving objects glide naturally on-screen, eliminating the judder associated with other LCD TVs.
Cinema
21:9 combines superb picture quality courtesy of Philips
powerful 2009 Perfect Pixel HD processing engine (500 million pixels per second
processing power and 2,250 trillion vivid colors) with immersive three-sided
Ambilight Spectra technology. Ambilight projects ambient LED lighting from the
top and sides of the TV that absorb the viewer into the picture and expands the
content beyond the confines of the screen. The color and intensity accurately
change to match the on-screen action and lock a viewer’s vision on the screen
to immerse them further in the movie. Completing the picture package, Cinema 21:9
is equipped with a Full HD 2560x1080p screen with 8.3 million pixels that
guarantees crystal clear and razor sharp images with high definition sources.
Cinema 21:9 is equally accomplished with more-common 16:9 material from sources including broadcast television, gaming and DVDs, which courtesy of best-in-class auto formatting technology can be resized to fill the screen (note: auto formatting technology can also be switched off).
Consumers with multiple HDMI devices will appreciate the versatile connectivity
options of Cinema
21:9, which sports five HDMI 1.3a ports, DLNA and Wi-Fi
connectivity.
“With our unique Cinema 21:9, we have developed a television which takes you as
close as you can get to the experience that you enjoy at the cinema , without
buying a ticket. We believe that to truly become absorbed in watching a film at
home consumers are looking for a real cinematic viewing experience, so we have
launched the world’s first cinema-proportioned TV screen perfectly complemented
by our immersive Ambilight technology,” commented Pradeep Kumar Ramachandran,
Director - Marketing, Audio, Video, Multimedia and Television, Consumer
Lifestyle, Philips India.
He added, "Philips new Cinema 21:9 takes enjoying movies at home to
an entirely new level, the advantages over a traditional 16:9 ratio screen in
side by side comparisons are truly striking.”
Cinema 21:9 is available for Rs 0.450 million through an exclusive new dealer
channel in
Philips
Blu-ray range – The Features:
The Philips
Blu-ray Player BDP7500 comes in a stunning design made from
real aluminum and is available in two colors, Sophisticated Silver and Black
Silk.
It offers superb performance and all the features users can expect in this
class. The Blu-ray
Player BDP7500 gives unmatched HD performance with full HD
1080p at 24 fps, plus has a smart touch censor for easy navigation. Enhancing
the cinema-picture sharpness are DivX® Ultra for enhanced playback of DivX®
media files, DVD video upscaling to 1080p via HDMI for near-HD images. Sound is
excellent due to HD lossless formats boosted by Dolby TrueHD and DT-HS Master
Audio for 7.1 surround sound. The BD-Live (Profile 2.0) lets users enjoy online
Blu-ray bonus content, plus it has other features such as a Hi-Speed USB Link
2.0 that plays video/music from USB flash drives and AVC HD for high definition
camcorder recordings on DVD. Users can enjoy their CD’s, DVD’s and Blu-ray
DVD’s on this one player.
For value conscious users, Philips offers the Blu-ray Player BDP3000. This player offers a compelling entrance into the world of Blu-ray without compromising on quality. As with all other Philips Blu-ray players, it offers all the important features such as BD-Live, HD audio support and high quality DVD playback, bundled in a compact, extremely easy to use and affordable Blu-ray player.
Philips
complete range of Blu-ray products
For a truly immersive home cinema experience, sound and picture quality, Philips has also included Blu-ray playback in its extensive range of home theater systems. All models provide the best high definition viewing experience through Blu-ray playback and the best listening experience with high-end proprietary sound technologies from Philips.
The new Philips
HTS8160 incorporates a complete home theatre system into one
unit and includes the Philips SoundBar with Ambisound. Users get multi-channel
surround sound without all the wires and numerous speakers cluttering their
space. In addition to HD Blu-ray playback in full HD 1080p, the HTS8160
boasts DTS-HD and Dolby True HD for high fidelity 7.1 surround sound,
proprietary DoubleBASS technology for deeper bass and connectivity with BD-Live
(Profile 2.0), Deep Colour for vivid images and x.v. Colour for more natural
colour from HD camcorder videos.
The Philips
HTS7540 promises high definition pictures and speakers
delivering high fidelity surround sound. Users get a superior listening
experience through features such as DTS-HD and Dolby TrueHD for high fidelity
7.1 surround sound, advanced digital amplifier, soft dome tweeters, Clear Voice
and DoubleBASS technology. The HTS7540 also comes with
increased connectivity and is known for its Energy Star rating for low power
and energy efficiency.
Following the HTS7540
is the Philips
HTS7200 for the value user. This home theatre system gives
sound clarity via the DTS-HD and Dolby TrueHD for high fidelity 7.1 surround
sound, Dolby Virtual Speaker, DoubleBASS technology, soft dome tweeters and
440W RMS power. The Philips Blu-ray players and home theatre systems are
available across
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.45.09 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
68 |
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/normal. |
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.