1. Summary Information
|
|
|
Country |
India |
|
Company Name |
CROMPTON GREAVES
LIMITED |
Principal Name 1 |
Mr. Gautam Thapar
|
|
Status |
Excellent |
Principal Name 2 |
Mr. S. M. Trehan |
|
|
|
Registration # |
11-002641 |
|
Street Address |
6th
Floor, C.G. House, |
||
|
Established Date |
28.04.1937 |
SIC Code |
-- |
|
Telephone# |
91-2662-242324 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-2662-242326 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Switchgears |
|
|
# of employees |
6058
(approximately) |
Product Name 2 |
Turn-Key Projects |
|
Paid up capital |
Rs.1283,000,000/- |
Product Name 3 |
Capacitors |
|
Shareholders |
|
Banking |
Union Bank of |
|
Public Limited Corp. |
Yes |
Business Period |
74 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Aa (81) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
CG Lucy Switchgear Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
19,792,700,000 |
Current Liabilities |
15,293,400,000 |
|
Inventories |
4,057,200,000 |
Long-term Liabilities |
134,000,000 |
|
Fixed Assets |
8,753,000,000 |
Other Liabilities |
2,428,000,000 |
|
Deferred Assets |
000 |
Total Liabilities |
17,855,400,000 |
|
Invest& other Assets |
8,293,300,000 |
Retained Earnings |
21,757,800,000 |
|
|
|
Net Worth |
23,040,800,000 |
|
Total Assets |
40,896,200,000 |
Total Liab. & Equity |
40,896,200,000 |
|
Total Assets (Previous Year) |
34,750,900,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
59,514,700,000 |
Net Profit |
6,943,300,000 |
|
Sales(Previous yr) |
52,839,900,000 |
Net Profit(Prev.yr) |
6,173,400,000 |
MIRA INFORM
REPORT
|
Report Date : |
23.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
CROMPTON GREAVES LIMITED |
|
|
|
|
Registered
Office : |
6th
Floor, C.G. House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.04.1937 |
|
|
|
|
Com. Reg. No.: |
11-002641 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1283.000 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1937PLC002641 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMCO5628A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC3840K |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of transformers, switchgears, turn-key
projects, capacitors, electric motors - fractional horse power motors, LT
motors, alternators, HT motors, DC machines, rail transportation, fans,
luminaries, light sources, telephone instruments, telecommunication
switching, transmission and access products, EPABX systems and agricultural
and domestic pumps, etc. |
|
|
|
|
No. of Employees
: |
6058
(approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Maximum Credit Limit : |
USD 92000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Thapar Group - a well-established industrial
house. Directors are reported as experienced, respectable and resourceful
industrialists. Their trade relations are reported as fair. General financial position is
satisfactory. Payments are usually
correct and as per commitments. The company can be considered normal for any 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 : |
6th Floor,
C.G. House, |
|
Tel. No.: |
91-2662-242324/242278/
24237777 |
|
Fax No.: |
91-2662-242326/
24237788 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant
Locations : |
Power Systems
Ø
Kanjur,
Bhandup, Mumbai – 400 042, o
Tel.
No. 91-22-25782451 o
Fax
No. 91-22-25783271 / 25783216 o
E-Mail.
: vmasson@tone.cgl.co.in Ø
A/3
MIDC Area, Ambad, Nashik – 422 010, o
Tel.
No. 91-253-2382 271 / 2382 275 o
Fax
No. 91-253-2381 247 o
E-Mail.
: contact@cglmail.com Ø
D-2
MIDC, Waluj, o
Tel.
No. 91-240-2554 662 /2 554 371 / 2554 372 / 2554 559 o
Fax
No. 91-240-2554 697 o
E-Mail.
: cglsg@bom4.vsnl.net.in Ø
o
Tel.
No. 91-20-27474925 o
Fax
No. 91-20-27474972 o
E-Mail.
: cgt2@mantraonline.com Ø
T1+T2
MPAKVN Industrial Area, Malanpur (Dist. Bhind), Madhya Pradesh-477 716, o
Tel.
No. 91-7539-283502 / 3507 / 3470 o
Fax
No. 91-7539-283585 o
E-Mail.
: cgt2@mantraonline.com Ø
Plot
No. 29-32 New Industrial Area No. 1, Mandideep – 462 046, o
Tel.
No. 91-7480-233306 o
Fax
No. 91-7480-233149 o
E-Mail.
cglt-bpl@sancharnet.in Ø
Plot
No. 65, Phase 1, SIPCOT Industrial Complex, Hosur - 635 126, Tamil Nadu, o
Telefax
: 91-4344-2579633 o
Fax
No. : 91-4344-2579622 o
E-Mail.
: cgpolycrete@satyam.net.in Industrial Systems
Ø
Kanjur,
Bhandup, Mumbai – 400 042, o
Tel.
No. 91-22-2578 2451 o
Fax No.
91-22-2578 3845 o
E-Mail.
: imd@cgl.co.in Ø
A/6-2,
MIDC Industrial Area, Ahmednagar – 414 111, o
Tel.
No. 91-241-2777372 o
Fax
No. 91-241-2777508 o
E-Mail.
: sc.gupta@mail.cgl.co.in Ø
B-110
MIDC Industrial Area, Ahmednagar – 414 111, o
Tel.
No. 91-241-2778521 o
Fax
No. 91-241-2777491 o
E-Mail.
: gupta.r.k@mail.cgl.co.in Ø
Plot
No. 4, Gate No. 627/2, Village Kuruli, Near Chakan, Pune - 410 501, o
Tel.
No. 91-2135-254641/2 o
E-Mail. feeder@cgl.co.in Ø
D-5
Industrial Area, MPAKVN, Mandideep – 462 046, o
Tel. No.
91-7480-233116 / 233118 o
Fax
No. 91-7480-233119 o
E-Mail.
: ak.raina@mail.cgl.co.in Ø
11-B,
Industrial Area 1, Pithampur – 454 775, Dist. Dhar, o
Tel.
No. 91-7292-253194 / 253258 o
Fax
No. 91-7292-253211 o
E-Mail.
: cglsrub@sancharnet.in Ø
C
71-72, MIDC Industrial Area, Satpur, Nashik – 422 007, o
Tel.
No. 91-253-2351067 / 69 o
Fax
No. 91-253-2351492 o
E-Mail.
: vrkumar@satpur2.cgl.co.in Ø
D-2-21,
22, 23, Tivim Industrial Estate, Karaswada, Bardez, Goa - 403 526, o
Tel.
No. 91-832-2257639 / 409 o
Fax
No. 91-832-2257207 o
E-Mail.
: sagar.r.k.@mail.cgl.co.in Ø
196-198,
Kundaim Industrial Estate, Kundaim, Ponda, Goa - 403 110, o
Tel.
No. 91-834-2395510 o
Fax
No. 91-834-2395377 o
E-Mail.:
cglfhpg@goatelecom.com Ø
L. B.
Shastri Marg, Bhandup, Mumbai - 400 078, o
Tel.
No. : 91-22-25783865 / 3581 / 83 o
Fax
No. : 91-22-25782877 Ø
o
Tel.
No. : 91-22-24933913 / 916 o
Fax
No.: 91-22-24951411 Consumer Products Ø
Kanjur,
Bhandup, Mumbai – 400 042, o
Tel.
No. 91-22-2578 2451 o
Fax
No. 91-22-2578 6046 Ø
o
Tel.
No. 91-22-24951983 / 24944376/ 24977652 o
Fax
No. 91-22-24604707 / 4708 / 24973046 o
E-Mail.
: vrm@cgl.co.in Ø
Kural
Village, Padra Taluka, o
Tel.
No. : 91-2662-242278 o
Fax
No. : 91-2662-242326 o
E-Mail.
: kvs@mail.cgl.co.in Ø
325-326,
Kundaim Industrial Estate, Ponda, Goa - 403 110, o
Tel.
No. : 91-832-2395304 o
Fax
No. : 91-832-2395305 Ø
A-28,
MIDC, Ahmednagar - 414 111, o
Tel.
No. 91-241-2777155 o
Fax
No. 91-241-277893 o
E-Mail. uhm@cgl.co.in Ø
214-A,
Kundaim Industrial Estate, Kundaim, Goa - 403 110, o
Tel.
No. 91-832-2395246 / 206 / 304 o
Fax
No. 91-832-2395305 o
E-Mail. rsk@mail.cgl.co.in Ø
Plot
No. 1, IDC Industrial Estate, Bethora, Ponda, Goa 403 409, o
Tel.
No. 91-832-2330005 / 2330742 o
Fax
No. 91-832-2313155 o
E-Mail.
rsk@mail.cgl.co.in Ø
Village
and Import Export Executive Channo, Dist. Sangrur - 148 026, o
Tel.
No. 91-16732-274543 o
Fax
No. 91-16732-274542 Digital Group
Ø
10-A
Jigani Industrial Estate, Jigani, Anekal, o
Tel.
No. 91-80-7825206/7 o
Fax
No. 91-80-7825210 o
E-Mail.
cgl.rcd@cromption.sril.in Ø
11A
and 11C Industrial Area, Pithampur – 454 775, Dist. Dhar, o
Tel.
No. 91-7292-253035 / 253071 o
Fax
No. 91-7292-253213 o
E-Mail.
hs_sekhon@yahoo.co.in International Division
Ø
Jagruti,
2nd Floor, Kanjur Marg (East), Mumbai - 400 042, o
Tel.
No. 91-22-25782451-7/25776524 /6649/25776723/25784211-19 o
Fax
No. 91-22-25774066 o
E-Mail. ashley@cgl.co.in Domestic Appliances Division
·
27, Tel. No. 91-11-27516993 / 23632349 Fax No. 91-11-27514899 Engineering Projects Division
·
·
Tel
No. 91-44-25341941 ·
Fax
No. 91-44-25341048 ·
E-Mail.
cglepd@vsnl.com Ø
50,
Lighting Division
Ø
·
Tel.
No. 91-22-24604701 |
|
|
|
|
Regional Sales
Office : |
Northern Region Located At: ·
Jaipur ·
Jalandhar ·
·
Eastern Region Located At: ·
Kolkata ·
Bhubaneswar ·
Patna
Western Region Located At: ·
Mumbai
·
Ahmedabad ·
Baroda ·
Indore ·
Pune ·
Nagpur
·
Raipur
Southern Region Located At: ·
Chennai
·
Bangalore ·
Secunderabad
·
Cochin
·
Coimbatore
Satellite office Located At: ·
Coimbatore ·
·
Ernakulam ·
Chennai ·
·
·
Mandapam |
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. Gautam Thapar
|
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. S. M. Trehan |
|
Designation : |
Vice Chairman
(Managing Director upto 1 June 2011) |
|
|
|
|
Name : |
Mr. L. Demortier |
|
Designation : |
Managing Director
|
|
|
|
|
Name : |
Mr. S Bayman |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Omkar Goswami
|
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. Labroo |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. Prabhu |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. M. Pudumjee |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S P Talwar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V Von Massow |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. M. Acharya |
|
Designation : |
Chief Financial
Officer |
|
|
|
|
Name : |
Mr. W. Henriques |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. L. Demortier |
|
Designation : |
Chief Executive
Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.06.2011)
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
262,534,848 |
41.03 |
|
|
262,534,848 |
41.03 |
|
|
|
|
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
262,534,848 |
41.03 |
|
|
|
|
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
81,824,589 |
12.79 |
|
|
1,957,423 |
0.31 |
|
|
12,003,780 |
1.88 |
|
|
33,704,252 |
5.27 |
|
|
137,073,867 |
21.42 |
|
|
266,563,911 |
41.66 |
|
|
|
|
|
|
|
|
|
|
53,768,975 |
8.40 |
|
|
|
|
|
|
|
|
|
|
39,900,100 |
6.24 |
|
|
7,208,479 |
1.13 |
|
|
|
|
|
|
9,937,289 |
1.55 |
|
|
1,779,225 |
0.28 |
|
|
172,821 |
0.03 |
|
|
7,983,218 |
1.25 |
|
|
2,025 |
- |
|
|
110,814,843 |
17.32 |
|
|
|
|
|
Total
Public shareholding (B) |
377,378,754 |
58.97 |
|
|
|
|
|
Total
(A)+(B) |
639,913,602 |
100.00 |
|
|
|
|
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
1,577,934 |
- |
|
|
1,577,934 |
- |
|
|
|
|
|
Total
(A)+(B)+(C) |
641,491,536 |
100.00 |
(1) Indian
Bodies Corporate
Individual shareholders holding nominal
share capital up to Rs.0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacturing and
Marketing of transformers, switchgears, turn-key projects, capacitors, electric
motors - fractional horse power motors, LT motors, alternators, HT motors, DC
machines, rail transportation, fans, luminaries, light sources, telephone
instruments, telecommunication switching, transmission and access products,
EPABX systems and agricultural and domestic pumps, etc. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
#Licensed Capacity |
*Installed Capacity |
@Actual Production |
|
|
|
|
|
|
|
Transformers, Reactors and
Accessories thereof |
MVA Nos. |
49304 38500 |
39700 61000 |
35810 24879 |
|
Switchgear, Control Equipment and Accessories thereof |
Nos. |
440600 |
514540 |
367695 |
|
Energy Meters |
Nos. |
1000000 |
100000 |
367301 |
|
Traction Electronic, Industrial Drives and SCADA |
Nos. |
3334 |
3334 |
329 |
|
Electric Motors and Alternators
and Drives Panels |
HP Nos. |
10520000 2089500 |
6380000 597862 |
5418088 485395 |
|
Power driven Pumps |
Nos. |
460000 |
140000 |
125405 |
|
Electrical Steel Stamping and
Laminates |
MT |
22000 |
22000 |
17080 |
|
Electric Fans, Ventilation and
Pollution Control Systems |
Nos. |
5980000 |
6052900 |
4261893 |
|
Electric Lamps |
Nos. |
114988000 |
115228000 |
104424858 |
|
Other Items |
Nos. |
1050 |
1050 |
37 |
NOTE:
# Under the liberalised Industrial Policy of Government of
India, the Company obtained the capacities approved by way of acknowledgements
against the IEMs submitted by it.
* Installed Capacities are as certified by the Managing
Director.
@ The production figures are as per returns submitted to the
Department of Industrial Development.
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Ø
Ø
Ø
Siemens
Limited Ø
Power
Grid Corporation India Limited Ø
State
Electricity Board, Mumbai, Ø
Lohia
Starlinger Limited Ø
Kirloskar
Bros. Limited Ø
Larsen
and Toubro Limited Ø
Whirlpool
India Limited Ø
Sulzer
Pumps ( Ø
Boving
Fouress Limited Ø
Indian
Railways Ø
Municipal
Corporation Ø
Jindal
Steel Ø
Tata
Companies Ø
Bharat
Heavy Electricals Limited Ø
Alstom
Power Ø
Mather
and Platt ( Ø
Life
Insurance Corporation Ø
Bharat
Sanchar Nigam Limited Ø
BSES
Limited |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
6058
(approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Union Bank of India · IDBI Bank Limited · State Bank of India · ICICI Bank Limited · Corporation Bank · The Royal Bank of Scotland N.V. · Canara Bank · Standard Chartered Bank · Bank of Maharashtra · Credit Agricole CIB · Yes Bank Limited |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered
Accountants |
|
|
|
|
Solicitors : |
|
|
Name : |
Crawford Bayley
and Company |
|
|
|
|
Memberships : |
Confederation of
Indian Industry |
|
|
|
|
Subsidiaries : |
· CG Capital and Investments Limited · CG Energy Management Limited · CG PPI Adhesive Products Limited · CG-ZIV Power Automation Solutions Limited · CG International B.V. · CG Power Systems USA Inc. · CG Sales Networks Americas Inc. · CG Sales Networks France SA · CG Power Systems Belgium N.V. · CG Power Systems Canada Inc. · CG Holdings Belgium N.V. · CG Electric Systems Hungary Zrt. · CG Automation Systems UK Limited · PT. CG Power Systems Indonesia |
|
|
|
|
Associates: |
·
CG Lucy
Switchgear Limited ·
International
Components India Limited (Up to 4th October, 2010) ·
Brook
Crompton Greaves Limited (Up to 26th August 2009) ·
Avantha
Power and Infrastructure Limited |
|
|
|
|
Other Related Parties in which a director
is interested: |
· Ballarpur Industries Limited · Solaris Chem Tech Industries Limited · BILT Graphic Paper Products Limited · Asia Aviation Limited · Avantha Holdings Limited · Salient Business Solutions Limited · Avantha Technologies Limited · Avantha Realty Limited (formerly Janpath Investments and Holdings Limited) · Korba West Power Company Limited · Corella Investments Limited · Lustre International Limited · Solaris Holding Limited · KCT Chemicals and Electricals Limited · Sabah Forest Industries Sdn. Bhd. · International Components India Limited · Malanpur Captive Power Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1380000000 |
Equity Shares |
Rs.2/- each |
Rs.2760.000 Millions |
|
|
|
|
|
Issued, Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
641533836 |
Equity Shares |
Rs.2/- each |
Rs.1283.000
Millions |
|
|
|
|
|
Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
641491536 |
Equity Shares |
Rs.2/- each |
Rs.1283.000
Millions |
|
|
|
|
|
NOTE:
Of the above shares:
- 1936000 issued pursuant to a contract without payment being received
in cash.
- 81000000 issued as fully paid-up bonus shares by way of capitalization
of reserves.
- 379658256 issued as fully paid-up bonus shares by way of
capitalization of securities premium account including nil shares issued
during the year.
- 7382830 issued as fully paid-up pursuant to scheme of amalgamation
and
- 33068750 issued as international offering of Global Depository
Receipt (GDR’s) (In US Dollars.)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1283.000 |
1283.000 |
733.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
21757.800 |
16364.200 |
11685.700 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
23040.800 |
17647.200 |
12418.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
82.300 |
138.200 |
345.200 |
|
|
2] Unsecured Loans |
51.700 |
129.600 |
191.500 |
|
|
TOTAL BORROWING |
134.000 |
267.800 |
536.700 |
|
|
DEFERRED TAX LIABILITIES |
735.200 |
834.200 |
639.200 |
|
|
|
|
|
|
|
|
TOTAL |
23910.000 |
18749.200 |
13594.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8753.000 |
5338.100 |
5107.100 |
|
|
Capital work-in-progress |
476.900 |
330.300 |
129.500 |
|
|
|
|
|
|
|
|
INVESTMENT |
7816.400 |
6880.600 |
2655.200 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4057.200
|
3035.300
|
2813.200
|
|
|
Sundry Debtors |
15101.800
|
12127.900
|
10122.600
|
|
|
Cash & Bank Balances |
1508.900
|
5485.000
|
4725.100
|
|
|
Other Current Assets |
8.600
|
10.000
|
0.000
|
|
|
Loans & Advances |
3173.400
|
1543.700
|
1325.400
|
|
Total
Current Assets |
23849.900
|
22201.900 |
18986.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
10090.400
|
9040.600
|
7927.600 |
|
|
Other Current Liabilities |
5203.000
|
5425.400
|
3949.100
|
|
|
Provisions |
1692.800
|
1535.700
|
1406.600
|
|
Total
Current Liabilities |
16986.200
|
16001.700
|
13283.300
|
|
|
Net Current Assets |
6863.700
|
6200.200
|
5703.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23910.000 |
18749.200 |
13594.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
59514.700 |
52839.900 |
46106.600 |
|
|
|
Other Income |
960.800 |
844.000 |
499.900 |
|
|
|
TOTAL (A) |
60475.500 |
53683.900 |
46606.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing construction and operating expenses |
41733.100 |
36229.600 |
31964.200 |
|
|
|
Staff Expenses |
3101.700 |
2557.900 |
2291.400 |
|
|
|
Selling and administration expenses |
5354.800 |
5474.800 |
5470.600 |
|
|
|
Extra ordinary Item |
0.000 |
(403.800) |
0.000 |
|
|
|
TOTAL (B) |
50189.600 |
43858.500 |
39726.200 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10285.900 |
9825.400 |
6880.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
206.900 |
200.000 |
285.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10079.000 |
9625.400 |
6594.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
808.900 |
519.000 |
452.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9270.100 |
9106.400 |
6142.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2326.800 |
2933.000 |
2171.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6943.300 |
6173.400 |
3970.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12724.100 |
8114.200 |
5398.100 |
|
|
|
|
|
|
|
|
|
Add |
Amount
transferred on amalgamation of a subsidiary |
78.400 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
700.000 |
620.000 |
397.100 |
|
|
|
1st Interim Dividend |
513.200 |
293.300 |
256.600 |
|
|
|
2nd Interim Dividend |
513.200 |
513.200 |
293.200 |
|
|
|
3rd Interim Dividend |
384.900 |
0.000 |
183.300 |
|
|
|
Corporate Dividend Tax |
232.900 |
137.000 |
124.600 |
|
|
BALANCE CARRIED
TO THE B/S |
17401.600 |
12724.100 |
8114.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (on FOB Basis) including deemed exports Rs.2360.100
millions |
10555.700 |
12269.700 |
11576.500 |
|
|
|
Service Income |
149.100 |
56.000 |
12.600 |
|
|
|
Other Earnings |
0.000 |
0.000 |
2.000 |
|
|
TOTAL EARNINGS |
10704.800 |
12325.700 |
11591.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4525.100 |
4280.200 |
3798.900 |
|
|
|
Trading Goods |
703.900 |
425.200 |
437.300 |
|
|
|
Spares Parts |
54.500 |
16.600 |
31.600 |
|
|
|
Capital Goods |
83.900 |
38.400 |
135.600 |
|
|
TOTAL IMPORTS |
5367.400 |
4760.400 |
4403.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.82 |
8.99 |
6.19 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2011 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
14688.300 |
|
Total Expenditure |
|
|
12821.700 |
|
PBIDT (Excl OI) |
|
|
1866.600 |
|
Other Income |
|
|
156.600 |
|
Operating Profit |
|
|
2023.200 |
|
Interest |
|
|
14.300 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
2008.900 |
|
Depreciation |
|
|
285.800 |
|
Profit Before Tax |
|
|
1723.100 |
|
Tax |
|
|
432.900 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
1290.200 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
1290.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.48
|
11.50 |
8.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.58
|
16.47 |
13.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.43
|
31.60 |
23.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.49 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.74
|
0.92 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.39 |
1.38 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Subject is a part of the Avantha Group was established in
the year 1937 as a private sector under the name of Crompton Parkinson Works
Limited, has become synonymous with electricity in
THE YEAR IN
RETROSPECT
The consolidated net revenue of the Company during 2010-2011 grew by
9.5% at Rs.100050.000 millions , as compared with Rs.91410.000 millions last year. The Company has achieved a
stand-alone net turnover of Rs.59510.000 millions , during the year, as
compared with Rs.52840.000 millions
during the previous year, a rise of 12.6%. Whilst order input has grown
at a rate of 11.1% at a consolidated level during the year; growth in revenue
has been, and is expected to be subdued on account of delayed off-takes by
customers in the Power and Industrial segments. Stand-alone Power Systems grew
by 1.8%, whilst consolidated Power Systems grew by 16.9% in Euro terms. A
healthy growth in the slim transformer, gas insulated switchgear and project
business in the Power Systems segment were the key growth drivers for this
segment. The Industrial Systems segment grew quite significantly, by 18.9%
during the year, largely due to revival in demand from steel, cement,
fertilizers, oil & gas and other end user industries. The Company has
successfully integrated the businesses of traction electronics, SCADA and
drives which it acquired from Nelco last year; and is poised to increase its
offering in this segment as a part of its larger vision to transform itself
from a Product company to a Solutions Provider status. It has established a new
plant dedicated to the manufacture of drives and automation, spread over 30,000
sq feet, equipped with modern equipment. The plant adds a new frontier to the
technological capabilities of the Company as a Solutions Provider. The Consumer
Products segment continued to outperform the market, with a growth of 25.4%
fuelled by higher disposable incomes and the continuing growth in the
construction sector. Consolidated profit before
tax increased to Rs.12290.000 millions , as compared with Rs.11890.000
millions in the previous year, an
increase of 3.4% over last year. Stand-alone profit before tax increased from Rs.870 millions to Rs.9270.000
millions , an increase of 6.5% over last year. Stiff competition from Korean
and Chinese players created continuing margin pressures, which was further
aggravated by rising prices of key materials. The Company has succeeded in
sustaining operating margins largely on account of productivity enhancements,
upgradation of production facilities, R and D-led savings in raw material
consumption, process technology improvements, global sourcing initiatives,
better working capital management and a debt free financial structure.
Consolidated profit after tax
(before extraordinary items) increased to Rs.9270.000 millions as compared with
Rs.8250.000 millions in the previous
year, an increase of 12.4 %
Over last year. Consolidated profit after tax increased to
Rs.8890.000 millions compared with Rs.8600.000 millions in the previous year,
an increase of 3.3% over last year. The Company recorded a stand-alone profit
after tax of Rs.6940.000 millions , an increase of 20.3% as compared with last
year.
AMALGAMATIONS
The Board of Directors
at their meeting held on 28 January 2011,
approved the amalgamation of CG Capital and Investments Ltd (CG Capital), the Company’s wholly-owned
subsidiary with the Company. After
divesting most of its portfolio of investments, CG Capital was practically dormant; and administratively, it
was felt more convenient to manage the
residual investments of CG Capital through the Company directly, instead of maintaining a separate
entity. Pursuant to the Scheme of Amalgamation, filed by CG Capital with
the High Court of Judicature at
On 6 July 2010, the Company completed the amalgamation of
its wholly-owned subsidiary, Brook
Crompton Greaves Limited with it, as
reported in the previous years Directors Report.
THE MAIN GLOBAL
ACQUISITIONS HAVE BEEN:
● POWER SYSTEMS:
● INDUSTRIAL
SYSTEMS:
● CONSUMER PRODUCTS:
UNAUDITED
STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2011.
(RS. IN MILLIONS)
|
Particulars |
Quarter ended |
|
|
30.06.2011 Unaudited |
|
|
|
|
Sales / Income
from operations |
15437.600 |
|
Less: Excise
duty |
749.300 |
|
|
|
|
Net Sales / income from operations |
14688.300 |
|
|
|
|
Expenditure |
|
|
a. (Increase)/Decrease in stock in trade and work in progress |
(794.300) |
|
b. Consumption of raw materials |
8309.600 |
|
c. Purchase of traded goods |
2896.500 |
|
d. Employee Cost |
918.100 |
|
f. Depreciation / Amortisation |
285.800 |
|
g. Other expenditure |
1491.800 |
|
Total Expenditure |
13107.500 |
|
|
|
|
Profit from Operations before Other Income,
Interest |
1580.800 |
|
|
|
|
Other Income |
156.600 |
|
|
|
|
Profit before Interest |
1737.400 |
|
|
|
|
Interest (Net) |
14.300 |
|
|
|
|
Profit /Loss from Ordinary Activities before tax |
1723.100 |
|
|
|
|
Tax Expense : |
|
|
Provision for Current Tax |
|
|
(a) Current Tax |
418.700 |
|
(b) Deferred Tax |
14.200 |
|
Total Tax
Expenses |
432.900 |
|
|
|
|
Net Profit for the period |
1290.200 |
|
|
|
|
Paid-up equity
share capital (Face Value of Rs.2/- each ) |
1283.000 |
|
|
|
|
Reserves
excluding Revaluation Reserves as per balance sheet of previous accounting
year |
|
|
|
|
|
Earnings Per Share (EPS) |
|
|
(a) Basic and diluted EPS before Extraordinary item (Rs) |
2.01 |
|
(b) Basic and diluted EPS after Extraordinary item (Rs) |
2.01 |
|
|
|
|
Public
Shareholding * |
|
|
- Number of shares |
378964895 |
|
- Percentage of shareholding |
59.08 |
|
|
|
|
Promoters and
promoter group Shareholdings |
|
|
a) Pledged / Encumbered |
|
|
- Number of shares |
11630500 |
|
- Percentage of shares (as a percentage of the total shareholding of promoter and
promoter group) |
4.43 |
|
- Percentage of shares (as a percentage of the total share capital of the
company) |
1.81 |
|
|
|
|
b) Non-Encumbered |
|
|
- Number of shares |
250896141 |
|
- Percentage of shares (as a percentage of the total shareholding of promoter and
promoter group) |
95.57 |
|
- Percentage of shares (as a percentage of the total share capital of the
company) |
39.11 |
|
|
|
|
*
Public Shareholding includes shares held by custodians of Global Depository
Receipts issued. |
|
STANDALONE SEGMENTWISE
REVENUE, RESULS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH
JUNE, 2011.
(RS. IN MILLIONS)
|
Particulars
|
Quarter ended |
|
|
30.06.2011 (Unaudited) |
|
SEGMENT
REVENUE (net of excise duty) |
|
|
(a) Power Systems |
5686.200 |
|
(b) Consumer Products |
5436.700 |
|
(c) Industrial Systems |
3617.200 |
|
(d) Others |
28.100 |
|
|
|
|
TOTAL |
14768.200 |
|
|
|
|
LESS: Inter segment Revenue |
79.900 |
|
|
|
|
Net
Sales / Income From Operations |
14688.300 |
|
|
|
|
SEGMENT
RESULT: |
|
|
[Profit / (loss) before tax and Interest from each
segment] |
|
|
(a) Power Systems |
716.900 |
|
(b) Consumer Products |
753.700 |
|
(c)
Industrial Systems |
575.500 |
|
(d) Others |
3.500 |
|
|
|
|
TOTAL |
2049.600 |
|
|
|
|
LESS: (i) Interest (net) |
14.300 |
|
(ii) Other un-allocable expenditure net of un-allocable income |
312.200 |
|
|
|
|
Profit
from Ordinary Activities before tax |
1723.100 |
|
|
|
|
CAPITAL
EMPLOYED : |
|
|
(segment
Assets – segment Liabilities) |
|
|
(a) Power Systems |
7932.500 |
|
(b) Consumer Products |
1482.700 |
|
(c) Industrial Systems |
3412.200 |
|
(d) Others |
12356.900 |
|
|
|
|
TOTAL |
25184.300 |
NOTES ON STANDALONE
FINANCIAL RESULTS:
· The above Unaudited financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 19th July, 2011, are subjected to Limited Review by the Statutory Auditors.
· The company during the quarter has been awarded a contract as franchisee of Maharashtra State Electricity Distribution Company Limited (MSEDCL) for Power distribution in Jalgaon Circle in Maharashtra for a period of 10 Years and a Letter of Intent has been executed for same between the company and MSEDCL.
· The Company has received and satisfactorily resolved three investor complaints during the quarter. No complaints were pending at the beginning and at the end of the quarter.
· Figures of the previous periods / year have been regrouped and reclassified, wherever necessary.
CONTINGENT LIABILITY:
|
Particular |
31.03.2011 (Rs. In
Millions) |
As on 31.03.2010
(Rs. In
Millions) |
|
|
|
|
|
Claims against the company not acknowledged
as debts |
13.500 |
122.000 |
|
Sales tax liability that may arise in
respect of matters in appeal |
54.500 |
43.500 |
|
Excise duty / service tax liability that may
arise in respect of matters in appeal preferred by the company |
70.800 |
60.800 |
|
Excise duty / service tax liability that may
arise in respect of matters preferred by the department |
33.200 |
15.600 |
|
Income tax liability that may arise in respect
of matters in appeal preferred b the department |
84.700 |
43.100 |
|
Guarantees / securities given on behalf of
subsidiary companies. |
1237.000 |
2181.100 |
|
Bill discounted |
1008.700 |
833.800 |
|
|
|
3299.9 |
FIXED ASSETS:
·
·
Buildings
·
Plant and Equipments
·
Railway Sidings
·
Furniture and Fixtures
·
Vehicles
·
·
Computer Software
WEBSITE DETAILS:
Introduction
Subject is part of the
US$ 3 bn Avantha Group, a conglomerate with an impressive global footprint.
Since its inception, subject has been synonymous with electricity. In 1875, a
Crompton 'dynamo' powered the world's very first electricity-lit house in
Colchester, Essex, U.K. CG's India operations were established in 1937, and
since then the company has retained its leadership position in the management
and application of electrical energy.
Today, subject is
With several international acquisitions, Crompton Greaves is fast emerging as a
first choice global supplier for high quality electrical equipment. 
History
The history of Crompton
Greaves goes back to 1878 when Col. R.E.B. Crompton founded R.E.B.Crompton and
Company. The company merged with F.A Parkinson in the year 1927 to form
Crompton Parkinson Limited, (CPL). Greaves Cotton and Co (GCC) was appointed as
their concessionaire in
Products and Services Offered
The company is organized
into three business groups viz. Power Systems, Industrial Systems, Consumer
Products. Nearly, two-thirds of it's turnover accrues from products lines in
which it enjoys a leadership position. Presently, the company is offering wide
range of products such as power and industrial transformers, HT circuit
breakers, LT and HT motors, DC motors, traction motors, alternators/
generators, railway signaling equipments, lighting products, fans, pumps and
public switching, transmission and access products. In addition to offering
broad range of products, the company undertakes turnkey projects from concept
to commissioning. Apart from this, CG exports it's products to more than 60
countries worldwide, which includes the emerging South-East Asian and Latin American
markets.
Thus, the company addresses all the segments of the power industry from complex
industrial solutions to basic household requirements. The fans and lighting
businesses acquired "Superbrand" status in January 2004. It is a
unique recognition amongst the country's 134 selected brands by
"Superbrands",
Acquisitions - Subject, now an Indian MNC
Pauwels Acquisition
Crompton Greaves has completed the acquisition of the Belgium-based Pauwels on
13th May 2005. The group has manufacturing facilities in
Apart from strengthening it's foothold in the Indian market, Crompton Greaves
acquisition of the Pauwels Group and it's transformer manufacturing facilities
in five countries is expected to provide a significant impetus to the company's
international presence.
The additional turnover of approximately Rs.13800.000 millions of Pauwels Group
for it's last financial year is expected to increase Crompton Greaves'
International business to around 50% of it's turnover, making the company a
force to reckon with, in the international market.
Ganz Acquisition
Crompton Greaves have also successfully acquired Hungarian based Ganz (GTV),
engaged in the manufacture of EHV Transformers, Switchgear, Gas Insulated Switchgear
(GIS), Rotating Machines and Contracting businesses and Transverticum Kft (TV),
engaged in the supporting areas of design, erection, commissioning and
commercial activities on 17.10.2006;TV being a subsidiary of GTV.
Microsol Acquisition
The acquisition of Microsol Holdings Limited (MHL) and its associate companies
in May 2007 is yet another significant stride in CG's journey towards
positioning itself as a Global T and D Solutions Provider.
MHL, based in
Sonomatra Acquisition
Crompton Greaves concluded an arrangement for the acquisition of Societe
Nouvelle de Maintenance de Transformateurs (Sonomatra) of
Manufacturing, Marketing and Servicing
Network
CG's business
operations consist of 22 manufacturing divisions spread across in Gujarat,
Maharashtra, Goa, Madhya Pradesh and Karnataka, supported by well knitted
marketing and service network through 14 branches in various states under
overall management of four regional sales offices located in
Future Outlook
The quality of
households is enhanced when their money is invested into products such as fans
and lighting for basic comforts. Their lives are literally touched by delight.
Similarly, Crompton helps electricity boards and other utilities to reach
electricity to the last home and factory. Therefore, every individual in
All economic
indicators point towards the manufacturing sector being the future driver of
However, several measures that the company has already taken and it's plans for
the future, together with business impact of the Pauwels acquisition, will
equip the company to respond in adequate measure to this competitive pressure.
PRESS RELEASES
Mutually beneficial deal enables both companies to
focus on key competencies in wind energy management
Albany, NY
(April 19, 2010) - CG Automation, a
wholly owned subsidiary of MSE Power Systems, Inc., today announced the
acquisition of ADMS Wind SCADA and wind turbine monitoring systems technology
from Second Wind Systems Inc. of Somerville, Mass. Combining this SCADA technology with
its vast expertise in utility automation, MSE Power Systems and CG Automation
are now positioned to offer more robust, feature-rich interconnection systems
that are essential for smart grid solutions.
CG Automation is a worldwide leader in providing utility automation
products and systems to the electric utility and renewable energy industries.
Ownership of Second Wind's technology complements CG Automation's portfolio and
broadens its services to the renewable energy market. "Integrating Second
Wind's ADMS with our XCell Substation Automation products and services will
enable CG Automation to provide our customers with sophisticated wind farm
management and interoperability that today's smart grid initiatives
demand," said Sam Sciacca, CEO of CG Automation. "In addition we see
potential applications for this technology in the solar market."
"Our ADMS Wind SCADA and Wind Turbine Monitoring Systems are
excellent technologies with a significant purpose in today's growing renewable
energy market," said Second Wind CEO Larry Letteney. "We wanted to
work with a partner that not only had the expertise, but the passion to grow
and continually enhance this important solution because it is vital to the
continued development of new energy sources. This deal also gave us the
opportunity to put a laser -focus on our remote sensing product, Triton, which
has seen tremendous market acceptance and deployment in the two years since we
launched."
About MSE Power Systems
MSE Power Systems, a subsidiary of Crompton Greaves (CG), employs 150
professionals in nine offices across
About Crompton Greaves
Crompton Greaves (CG) is part of the U.S. $4B Avantha Group, a global
conglomerate with 20,000 employees operating in over 10 countries. "We
intend to use CG's global footprint to take this technology worldwide,
especially to Asia and
About Second Wind Systems Inc.
Second Wind develops wind measurement solutions that make wind power
facilities more efficient and profitable. With its ability to measure and
record wind patterns in a wide variety of locations, Second Wind's sensors and
profilers benefit businesses, investors and consumers by supporting the
construction of commercially viable wind farms that provide a reliable energy
stream. At nearly a million hours of collected data, Second Wind's Triton sonic
wind profiler is the industry-leading remote sensing
system. For more information about Somerville, Mass.-based Second
Wind
Crompton
Greaves Limited acquires
Mumbai /
Avantha Chairman and CEO Mr. Gautam Thapar said, "CG is
one of the country's most globalised companies, with half its assets and more
than 50% of its sales coming from abroad. This strategic investment will
contribute as much to CG's product portfolio as it will to our overall growth
plans."
Mr. S.M. Trehan, Managing Director, Crompton Greaves Limited
said, "At CG, we are always exploring opportunities of growth and
expansion that offer a strategic fit and right value. With the acquisition of
Power Technology Solutions, CG will gain significant consolidation in the engineering,
procurement and maintenance (EPM) segment in
This is CG's sixth acquisition in a span of five years
(beginning 2005); the other acquisitions being Pauwels (2005), Ganz (2006),
Microsol (2007), Sonomatra (2008) and MSE Power Systems (2008).
Established in 1999, PTS is a high voltage electrical
engineering company which provides consultancy, technical and engineering support
to regional electricity companies, including, but not limited to conceptual
engineering / system studies and also complete EPC detailed engineering,
spanning electrical (relay/control, SCADA and substation automation) and
civil/structural (site foundation, development and structural design).
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.48.82 |
|
|
1 |
Rs.75.48 |
|
Euro |
1 |
Rs.66.10 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
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.