MIRA
INFORM REPORT
|
Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
RICOH INDIA LIMITED |
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Registered
Office : |
1201, Building No. 12, Solitaire Corporate Park, Andheri
Ghatkopar Link Road, Andheri East, Mumbai-400 093, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation: |
22.10.1993 |
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Com. Reg. No.: |
11-074694 |
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Capital
Investment / Paid-up Capital : |
Rs.397.674 Millions |
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CIN No.: [Company Identification
No.] |
L74940MH1993PLC074694 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14081E |
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PAN No.: [Permanent Account No.] |
AAACR4151J |
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Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacture and distribution of photocopiers, paper guillotines and duplicating machines |
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No. of Employees
: |
700 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba [47] |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
USD 5260000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : |
1201, Building No. 12, Solitaire Corporate Park, Andheri
Ghatkopar Link Road, Andheri East, Mumbai-400 093, Maharashtra, India |
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Tel. No.: |
91-22-67032090 / 1 / 2 / 3 / 4 / 22881953 / 4 / 5 |
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Fax No.: |
91-22-67032099 / 22881950 |
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E-Mail : |
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Website : |
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Corporate Office : |
2nd Floor, |
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Tel. No.: |
91-11-49103000 / 49103100 / 49103200 |
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Fax No.: |
91-11-49103099 / 49103199 |
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E-Mail : |
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Factory 1 : |
A- 9, GIDC Electronic Estate, ‘K’ Road, Sector 15,
Gandhinagar – 382 044, |
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Factory 2 : |
Block-GP, Sector V, |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. N. Majima |
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Designation : |
Non-Executive (Chairman) |
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Date of Birth/Age : |
24.05.1952 |
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Qualification : |
Graduate from |
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Expertise in
specific functional areas : |
International Marketing |
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Date of Appointment : |
23.07.2008 |
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Name : |
Mr. T.Takano |
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Designation : |
Managing Director and CEO |
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Date of Birth/Age : |
30.08.1954 |
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Qualification : |
Law Graduate from |
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Expertise in
specific functional areas : |
Corporate Marketing and Administration |
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Date of Appointment : |
01.04.2011 |
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Name : |
Mr. D. C. Singhania |
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Designation : |
Non-Executive (Independent) |
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Name : |
Mr. U. P. Mathur |
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Designation : |
Non-Executive (Independent) |
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Date of Birth/Age : |
29.03.1937 |
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Qualification : |
M.Com, Bachelor of Law, Associate Member of the |
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Expertise in
specific functional areas : |
Corporate Laws |
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Date of Appointment : |
08.07.2005 |
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Name : |
Mr. R. K. Pandey |
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Designation : |
Non-Executive (Independent) |
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Date of Birth/Age : |
20.01.1940 |
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Qualification : |
M. Com, Bachelor of Law Fellow Member of the |
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Expertise in specific
functional areas : |
Corporate Laws and Capital Market |
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Date of Appointment : |
27.06.2008 |
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Other Directorship : |
-Hanung Toys and Textiles Limited -Precise Laboratories Private Limited -Sanghi Industries Limited -Welcure Drugs and Pharmaceuticals Limited -Morgan Ventures Limited -British Healthcare Products Limited -PTC Industries Limited -Shree Rajasthan Syntex Limited -Amar Ujala Publications Limited - -Jindal Polyfilms Limited -Jaypee Uttar Bharat Vikas Private Limited -Kamdhenu Ispat Limited -Mefcom Capital Market Limited - |
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Name : |
Mr. M. Ishida |
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Designation : |
Non-Executive Director |
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Date of Birth/Age : |
25.09.1955 |
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Qualification : |
Law Graduate from The University of Tokyo in the year 1978 |
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Expertise in
specific functional areas : |
Corporate Finance and Administration |
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Date of Appointment : |
30.06.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Manish Sehgal |
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Designation : |
Company Secretary |
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Name : |
Mr. Manoj Kumar |
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Designation : |
Chief Financial Officer |
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Audit Committee : |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of promoters and Promoter Group |
|
|
|
1. Indian |
- |
- |
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2. Foreign |
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Bodies Corporate |
29270370 |
73.60 |
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Sub Total |
29270370 |
73.60 |
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(B) Public
Shareholding |
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1. Institutions |
|
|
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Mutual Funds / UTI |
900 |
- |
|
Financial Institutions / Banks |
7900 |
0.02 |
|
Insurance Companies |
2400 |
0.01 |
|
Sub Total (B)
(1) |
11200 |
0.03 |
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|
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2. Non
Institutions |
|
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Bodies Corporate |
1354884 |
3.41 |
|
Individual shareholders holding nominal share capital up to Rs. 0.100
million |
6185979 |
15.56 |
|
Individual shareholders holding nominal share capital in excess of Rs.
0.100 million |
2866170 |
7.21 |
|
|
|
|
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Any other
[specify] |
79558 |
0.20 |
|
Trusts and Foundation |
5288 |
0.01 |
|
Non Resident Indians |
74270 |
0.19 |
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Sub Total |
10486591 |
26.37 |
|
(B) = (B) (1) +
(B) (2) |
10497791 |
26.40 |
|
Total (A) + (B) |
39768161 |
100.00 |
|
Shares
held by custodians and against which depository receipts have been
issued (C) |
- |
- |
|
Total (A) + (B) +(C) |
39768161 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and distribution of photocopiers, paper guillotines and duplicating machines |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
700 [Approximately] |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sahni Natarajan and Bahl Chartered Accountants |
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Address : |
303, Mansarover, 90, |
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Holding company : |
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Fellow Subsidiaries
: |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45,000,000 |
Equity Shares |
Rs.10/-each |
Rs.450.000
millions |
|
500,000 |
7.5% Cumulative Redeemable Preference Shares |
Rs.100/-each |
Rs. 50.000 millions |
|
|
Total |
|
Rs.500.000
millions |
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39,768,161 |
Equity Shares |
Rs.10/-each |
Rs.397.682
millions |
|
|
|
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Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39,766,961 |
Equity Shares ( Of the above 28,989,792 are issued in pursuant to a
scheme of arrangement without payment being received in cash) |
Rs.10/-each |
Rs.397.670
millions |
|
|
Add : Forfeited
shares |
|
Rs. 0.004 million |
|
|
Total |
|
Rs.397.674
millions |
NOTES :
1. Of the above 18,310,578 (Previous Year 18, 310,578) Equity Shares of
Rs.10/- each are held by Ricoh Company Limited,
2. Of the above 10,959,792 (Previous Year 10,959,792) Equity Shares of
Rs.10/- each are held by NRG Holding
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
397.674 |
397.674 |
397.674 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
918.688 |
754.881 |
582.513 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1316.362 |
1152.555 |
980.187 |
|
|
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 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
1316.362 |
1152.555 |
980.187 |
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|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
149.909 |
124.449 |
102.062 |
|
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Capital work-in-progress |
8.535 |
38.042 |
8.700 |
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|
|
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INVESTMENT |
0.000 |
100.003 |
0.004 |
|
|
DEFERREX TAX ASSETS |
10.789 |
7.066 |
26.567 |
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|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
504.006
|
280.507 |
458.703 |
|
|
Sundry Debtors |
688.886
|
539.493 |
500.988 |
|
|
Cash & Bank Balances |
363.920
|
383.733 |
213.670 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
813.325
|
661.714 |
497.232 |
|
Total
Current Assets |
2370.137
|
1865.447 |
1670.593 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
563.543
|
437.727 |
435.410 |
|
|
Other Current Liabilities |
595.990
|
496.722 |
354.579 |
|
|
Provisions |
63.475
|
48.003 |
37.750 |
|
Total
Current Liabilities |
1223.008
|
982.452 |
827.739 |
|
|
Net Current Assets |
1147.129
|
882.995 |
842.854 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1316.362 |
1152.555 |
980.187 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
2961.521 |
2565.312 |
2419.330 |
|
|
|
Other Income |
18.914 |
29.221 |
22.120 |
|
|
|
TOTAL (A) |
2980.435 |
2594.533 |
2441.450 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods and materials |
1702.417 |
1447.851 |
1337.727 |
|
|
|
Employees' remuneration and benefits |
430.805 |
386.642 |
364.344 |
|
|
|
Manufacturing, selling and distribution expenses |
196.258 |
167.450 |
171.551 |
|
|
|
Other expenses |
356.882 |
276.163 |
226.043 |
|
|
|
Exchange loss (Net) |
0.000 |
0.000 |
76.008 |
|
|
|
Amortisation of Goodwill |
0.000 |
0.000 |
35.816 |
|
|
|
TOTAL (B) |
2686.362 |
2278.106 |
2211.489 |
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
294.073 |
316.427 |
229.961 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.655 |
8.479 |
7.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
290.418 |
307.948 |
222.389 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.113 |
29.630 |
25.368 |
|
|
|
|
|
|
|
|
|
Less |
Prior period item - Gratuity |
- |
0.351 |
1.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
254.305 |
277.967 |
196.007 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
90.498 |
105.598 |
70.568 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-H) (I) |
163.807 |
172.369 |
125.439 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
704.161 |
531.792 |
406.353 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
867.968 |
704.161 |
531.792 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Subsidy for Expenses and Other Income |
109.989 |
57.527 |
63.606 |
|
|
TOTAL EARNINGS |
109.989 |
57.527 |
63.606 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished goods and spares parts |
1741.631 |
1130.402 |
1308.817 |
|
|
|
Capital Goods |
12.187 |
8.100 |
3.110 |
|
|
TOTAL IMPORTS |
1753.818 |
1138.502 |
1311.927 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.12 |
4.33 |
3.15 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
|
30.06.2011 |
|
Type |
|
|
|
1st
Quarter |
|
Sales Turnover |
|
|
|
626.810 |
|
Total Expenditure |
|
|
|
688.410 |
|
PBIDT (Excl
OI) |
|
|
|
[61.600] |
|
Other Income |
|
|
|
1.760 |
|
Operating
Profit |
|
|
|
[59.840] |
|
Interest |
|
|
|
4.110 |
|
Exceptional
Items |
|
|
|
0.000 |
|
PBDT |
|
|
|
[63.950] |
|
Depreciation |
|
|
|
14.570 |
|
Profit
Before Tax |
|
|
|
[78.520] |
|
Tax |
|
|
|
1.990 |
|
Reported PAT |
|
|
|
[80.520] |
|
Extraordinary Items |
|
|
|
0.000 |
|
Prior Period Expenses |
|
|
|
0.000 |
|
Other Adjustments |
|
|
|
0.000 |
|
Net Profit |
|
|
|
[80.520] |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.50
|
6.64 |
5.14 |
|
|
|
|
|
|
|
(PBT/Sales) |
(%) |
8.59
|
10.83 |
8.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.09
|
13.97 |
11.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.24 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.93
|
0.85 |
0.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.90 |
2.02 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from 1104,
Listing Details :
Stock Exchange –
Listing Date – 26.05.2000
Code - 517496
OVERVIEW
In the year , the unit sales of the Company grew by about 17% as against
a meager growth of 1% in the Financial year 2009-10. Correspondingly, the
revenue also grew by about 15% as compared to a revenue growth of 6% in the
Financial year 2009-10. Increased sales activity together with launch of new
products like High End Production Printers, helped us to achieve this high
growth.
They have also recently made deeper inroads into the IT Services market
for which a huge potential exists in
ACQUISITION OF
BUSINESS INTEREST IN MOMENTUM INFOCARE PRIVATE LIMITED
The Company with a view to achieve diversification and expansion by mean
of offering comprehensive office solutions and new products to enhance customer
satisfaction, carried out its maiden business acquisition in the field of
Information Technology (IT) by acquiring the business of Momentum Infocare
Private Limited (MIPL), a Noida based leading IT Company.
MIPL is recognised in the Market for its ability to timely deliver
complex system integration projects by a team with deep understanding of technology
and business needs, and as an organisation providing the highest level of
customer satisfaction through continuous improvement in quality systems.
Through this business acquisition, the Company will obtain the requisite
competency, knowledge and skills to offer a comprehensive range of IT enabled
services to their customers that would bring work efficiencies, cost reduction
and a complete turnaround in the working of their customers` workplaces. This
would further propel their endeavours to position their selves as a One Stop
Solution and Service provider to their customers and consolidate their position
in the IT Services Market. The Company is confident of tapping sizable business
from this alignment.
CHANGE OF
REGISTERED OFFICE WITHIN THE CITY LIMITS OF MUMBAI
The Company has changed its Registered Office within the local limits of
City of
QUALITY
INITIATIVES
The company is committed to driving Business Excellence initiatives
through various TQM tools and techniques. A new step in that direction is also
the adoption of the Malcolm Baldrige self assessment framework in 2010 to
improve the effectiveness of various processes within the organization. The
commitment to quality is also borne by the fact that the company's Quality
Management System conforms to ISO 9001-2008 and ISO 140001-2004 standards.
SOCIAL AND
ENVIRONMENTAL INITIATIVES
In line with the Ricoh Group’s commitment to the environment and
sustainable society that recycle resources and conserve energy, they
collaborated with TERI on its 'Light a Billion Lives' campaign. and adopted two
villages (Benefiting 100 rural families) one each at Uttarakhand and Madhya
Pradesh respectively. In this campaign solar lantern is provided to a rural
family that lacks access to electricity. This not only replaces kerosene
lanterns and is more environment-friendly, but also empowers the
under-privileged family by making it easier to study, work and cook under clean
and better light.
They donated 8 refurbished photocopiers to an NGO working towards for
welfare of old age people.
Ricoh India Limited has also sponsored the education of 14 poor and
needy children at
MANAGEMENT
DISCUSSION AND ANALYSIS
OVERVIEW
The Company revenues during the year 2010-11 have grown by 15.4%.
For the year ended on 31st March, 2011, the net profit before tax was
Rs.254.305 millions as against a net profit before tax of Rs. 277.967 millions
for the previous year ended 31st March, 2010.
FUTURE OUTLOOK AND
FOCUS FOR 2011-12
Indian economy, which had started recovery in Financial Year 2010, is
again showing signs of slow down, due to high inflation coupled with rising
interest rates. However, in the medium term, Indian growth story looks intact,
with a large and growing domestic consumption. Service Industry being the
largest component in the Indian GDP which is people intensive, market for
Printing and Documentation is expected to continue to grow.
Amongst the product lines, Color MFP (A3) market has been steadily
expanding by almost 25% CAGR with more and more offices using color copiers and
printers in today’s offices. Ricoh is already the market leader, and they plan
to further strengthen their position in this segment.
Production Printing business is a strategic business area which they
established in FY’10 to expand into PFP market in color in addition to B and W.
This will continue to be a focus area for this year where they expect to grow
significantly. In addition, Ricoh is also expanding into the highly potential
IT Services, focusing on the Infrastructure Solutions, both Hardware as well as
Software.
Building upon their core foundation of Products and Software solutions,
Ricoh is also expanding their services business to Managed Document Solutions,
to effectively manage a companies entire fleet of printing and related
equipments in any organization for effective document management, improved
workflow and increased productivity.
Contingent Liabilities
Contingent liabilities not provided for :
Rs. In millions
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
|
a Sales tax demands disputed by the Company |
145.435 |
126.346 |
|
b Income-tax demands disputed by the Company |
28.395 |
32.845 |
|
c Bank Guarantees given to customers |
27.070 |
27.674 |
|
d Rent cases |
2.925 |
2.925 |
|
e Consumer Claims |
0.483 |
0.483 |
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2011
|
Particulars |
Quarter
Ended 30.06.2011 [Unaudited |
|
Income |
|
|
a) Net Sales / Income from Operations |
625.610 |
|
b) Other Operating Income |
1.200 |
|
Total Operating Income |
626.810 |
|
Expenditure |
|
|
(a) (Increase)/decrease in Stock in Trade |
[86.346] |
|
(b) Consumption of Raw Materials |
- |
|
(c) Purchase of traded goods |
458.349 |
|
(d) Employees Cost |
162.070 |
|
(e) Depreciation |
14.565 |
|
(f) Other Expenditure |
154.342 |
|
Total Expenditure |
702.980 |
|
Profit / (Loss) From Operations before other Income Interest & Exceptional Items |
[76.170] |
|
Other Income |
1.759 |
|
Profit/(Loss) before Interest and Exceptional items |
[74.411] |
|
Interest |
4.113 |
|
Profit / (Loss) after interest before Exceptional items |
[78.524] |
|
Exceptional Items |
- |
|
Profit / (Loss) From
Ordinary activities before Tax |
[78.524] |
|
Provision for Taxation |
|
|
- Current |
- |
|
- Differed |
[1.994] |
|
- Fringe benifit Tax |
- |
|
Net Profit/(Loss) From Ordinary activities after Tax |
[80.518] |
|
Extraordinary Items |
- |
|
Net Profit/(Loss) for the period |
[80.518] |
|
Paid Up Equity Share Capital ( Face Value of the share Rs.10/- each ) |
397.674 |
|
Reserves (Excluding Revaluation Reserves) |
- |
|
Public Share
Holding |
|
|
Before
Extraordinary Items |
|
|
-Basic |
[2.02] |
|
-Diluted |
[2.02] |
|
After Extraordinary Items |
|
|
-Basic |
[2.02] |
|
-Diluted |
[2.02] |
|
Average of Public Share Holding |
|
|
- Number of Shares |
10496591 |
|
- Percentage of shareholding |
26.4% |
|
Promoters and Promoter group share holding |
|
|
a) Pledged / Encumbered |
|
|
- Number of Shares |
- |
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
- |
|
- Percentage of shares(as a % of the total share capital of the company) |
- |
|
b) Non-encumbered |
|
|
- Number of Shares |
29270370 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
100.0% |
|
- Percentage of Share (as a % of the total share capital of the company) |
73.6% |
Segment
wise Revenue, Results and Capital Employed under clause 41 of the Listing
agreement
|
Particulars |
Quarter
Ended 30.06.2011 [Unaudited] |
|
SEGMENT REVENUE |
|
|
Direct Channel |
458.635 |
|
Indirect Channel |
168.174 |
|
Total Revenue |
628.810 |
|
Less :Inter segment revenue |
- |
|
Net Sales/Income from Operations |
626.810 |
|
2. SEGMENT
RESULTS |
|
|
Profit before interest & tax from each segment |
|
|
Direct Channel |
[76.927] |
|
Indirect Channel |
0.757 |
|
TOTAL |
[76.170] |
|
Less : |
|
|
i) Interest & bank charges |
[4.113] |
|
ii) Unallocable income |
1.759 |
|
Total profit
before tax |
[78.524] |
|
3. CAPITAL
EMPLOYED |
|
|
a) Direct Channel |
976.942 |
|
b) Indirect Channel |
498.901 |
|
Total Capital
Employed |
1475.843 |
- The
above results were reviewed by the Audit Committee and approved by the
Board of Directors at their meeting held on 21st July, 2011.
- Other
Expenses for Q1 FY11 includes an exchange fluctuation loss of Rs. 2.896
millions as compared to an exchange fluctuation gain of Rs. 0.953 million
during Q1 FY10 included under the head Other Income.
- The
Auditors of the Company have carried out the limited review of the above
unaudited financial results for the Q1 FY 11 in terms of Clause 41 of the
listing agreement.
- On
12th May*11 Company has acquired the business interest of an IT Company,
Momentum Infocare India Private Limited, with effect from 1st April, 2011
and hence Previous Years' figures are not comparable with Current Year's
figures.
- Previous
year figures have been regrouped / rearranged wherever considered
necessary.
- Disclosure
about Investors Complaints:
|
Complaints
pending as on 01.04.2011 |
Received
during the period (01.04.2011 to 30.06.2011 |
Resolved
during the period (01.04.2011 to 30.06.2011) |
Pending
as on 30.06.2011 |
|
Nil |
15 |
15 |
Nil |
FIXED ASSETS :
- Goodwill
- Factory
Buildings
- Plant and
Machinery
- Furniture,
Fixtures Office Equipments
- Computer
Hardware
- Machines
capitalized
- Vehicles
- Computer
Software
As per Website :
Corporate Overview
Ricoh Company Limited - Japan, the parent company of
subject, is a leading global player in the area of (a) Imaging solutions like
Digital Plain Paper Copiers, Colour Plain Paper Copiers, Colour and Mono Lazer
Printers, Fax machines, Thermal paper etc., (b) Networking Input / Output
systems like Multifunction Printers, Services and Software, Scanners etc, (c)
Networking System Solutions like PC’s, Servers, Networking equipment,
Networking software etc.
It has worldwide operations through 311 subsidiaries and affiliates
employing more than 108,477 employees across the globe. This position has been
built over the years through its dedication towards technological leadership.
This dedication has seen Ricoh constantly creating new values for the world
at the interface of people and information. Ranked by FORTUNE magazine as one
of the Global Most Admired Companies for two years in a row. Ricoh, which has
won the Deming’s award twice is honored to be included in the top 100 listing
of the most admired companies worldwide.
Subject is a 73.6% owned subsidiary of Ricoh Company Limited,
Business
Description
Subject
is a 73.6% owned subsidiary of Ricoh Company Limited,
More Business
Descriptions
Manufacture and distribution of photocopiers, paper guillotines and
duplicating machines
Ricoh Co Ltd (Japan) is a leading manufacturer of Imaging and Solutions
(digital and analog copiers, MFPs (multifunction printers), laser printers,
facsimile machines, digital duplicators, related supplies and services and
related software), Network System Solutions (PCs, servers, and related
services, support and supplies), Industrial Products (thermal media, optical
equipment, semiconductors, electronic components and measuring equipment) and
Other (digital cameras). Ricoh (
Press Release
Ricoh Establishes PENTAX RICOH IMAGING COMPANY,
LIMITED
Tokyo, October 1, 2011–Ricoh Company, Limited
(President and CEO: Shiro Kondo; hereinafter referred to as "Ricoh")
announces the establishment of PENTAX RICOH IMAGING COMPANY, LIMITED as its
wholly owned subsidiary on October 1, 2011.
Earlier, HOYA Corporation (President and CEO:
Hiroshi Suzuki; hereinafter referred to as "HOYA") transferred the
PENTAX Imaging Systems Business to PENTAX Imaging Corporation, a newly
established subsidiary of HOYA, through an absorption-type split (spin off) and
business transfer. Ricoh has acquired all shares outstanding in PENTAX Imaging
Corporation, as of today, completing the transaction. Ricoh also changed the
name of the company at the same time.
By forming the new company, Ricoh will strive
to further bolster consumer products and services, in addition to its existing
digital camera business.
New Company
|
Company name: |
PENTAX
RICOH IMAGING COMPANY, LIMITED |
|
Business: |
Manufacture and sales of
optical equipment such as digital cameras, binoculars and lenses for security
cameras |
|
President
and Representative Director: |
Zenji Miura
(Representative Director, Deputy President, Ricoh Company, Limited ) |
|
Head office: |
2-35-7, Maeno-cho,
Itabashi-ku, |
|
Established: |
October 1, 2011 |
|
Capital: |
100 million yen |
|
Number of employees: |
Approx.1900 |
Subsidiaries of the New Company
Pentax Imaging Corporation's subsidiaries shown
below have been transferred to the new company as of October 1, 2011.
|
Name of
subsidiary |
Location |
|
PENTAX RICOH IMAGING PRODUCTS ( |
|
|
PENTAX RICOH IMAGING PRODUCTS ( |
The |
|
PENTAX RICOH IMAGING EUROPE n.v. |
|
|
PENTAX RICOH IMAGING |
|
|
PENTAX RICOH IMAGING UK LIMITED |
The |
|
PENTAX RICOH IMAGING DEUTSCHLAND GmbH |
|
|
PENTAX RICOH IMAGING AMERICAS CORPORATION |
The |
|
PENTAX RICOH IMAGING CANADA INC. |
|
|
PENTAX RICOH IMAGING CHINA COMPANY,
LIMITED |
|
Press Release
Ricoh
Indo-Asian News Service
09 September 2011
Kolkata, Sep. 9 -- Ricoh India, a subsidiary of Japan-based
imaging solutions leader Ricoh Company, is eyeing three-fold growth in its
revenue to Rs.9000.000 millions by the 2013 fiscal, a company official said
Friday. "
Ricoh
Accord Fintech (
12 May 2011
Ricoh
Accord Fintech (
12 May 2011
India, May 12 -- Ricoh India is currently trading at Rs.
34.75, up by 0.75 points or 2.21% from its previous closing of Rs. 34.00 on the
BSE.The scrip opened at Rs. 34.10 and has touched a high and low of Rs. 35.95
and Rs. 34.10 respectively. So far 3,611 shares were traded on the counter.The
BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs.
52.95 on 12-Nov-2010 and a 52 week low of Rs. 30.25 on 30-Mar-2011.Last one
week high and low of the scrip stood at Rs. 35.95 and Rs. 33.20 respectively.
The current market cap of the company is Rs. 1411.800 millions.The promoters
holding in the company stood at 73.60 % while Institutions and Non-Institutions
held 0.03% and 26.37% respectively. Ricoh
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.49.02 |
|
|
1 |
Rs.77.12 |
|
Euro |
1 |
Rs.67.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.