1. Summary Information
|
Reference
# |
135-101869-12-020(20120423985) |
Country |
|
|
Company Name |
ABB LIMITED |
Principal Name 1 |
Mr. Gary Steel |
|
Status |
Good |
Principal Name 2 |
Mr. Bazmi R. Husain |
|
Our Reference # |
178043 |
Registration # |
08-032923 |
|
Street Address |
2nd Floor, East Wing Khanija Bhawan, 49, |
||
|
Established Date |
24.12.1949 |
SIC Code |
-- |
|
Telephone# |
91-80-22949150/54 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-80-22949148 |
Business Style 2 |
|
|
Homepage |
Product Name 1 |
Switchgears |
|
|
# of employees |
5535 (Approximately) |
Product Name 2 |
Pollution |
|
Paid up capital |
Rs.423,817,000/- |
Product Name 3 |
Electrical Items |
|
Shareholders |
Shareholding of
Promoter and Promoter Group (75.00%), Public shareholding (25.00%) |
Banking |
Canara Bank |
|
Public Limited Corp. |
YES |
Business Period |
63 Years |
|
IPO |
YES |
International Ins. |
-- |
|
Public |
YES |
Rating |
Aa (75) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
Beijing, China |
ABB (China) Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
42,283,690,000 |
Current Liabilities |
31,630,477,000 |
|
Inventories |
6,978,526,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
7,660,842,000 |
Other Liabilities |
1,846,434,000 |
|
Deferred Assets |
45,966,000 |
Total Liabilities |
33,476,911,000 |
|
Invest& other Assets |
744,923,000 |
Retained Earnings |
23,813,219,000 |
|
|
|
Net Worth |
24,237,036,000 |
|
Total Assets |
57,713,947,000 |
Total Liab. & Equity |
57,713,947,000 |
|
Total Assets (Previous Year) |
15,472,540,690 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Total Income |
63,726,354,000 |
Net Profit |
632,303,000 |
|
Total Income (Previous yr) |
63,097,710,000 |
Net Profit(Prev.yr) |
3,546,391,000 |
MIRA
INFORM REPORT
|
Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ABB LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, East Wing Khanija Bhawan, 49, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
24.12.1949 |
|
|
|
|
Com. Reg. No.: |
08-032923 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.423.817 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L32202KA1949PLC032923 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA19181B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA3834B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company's Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of switchgears, pollution and environment control equipments and motors/alternators/generators. It is also into manufacture of electrical items such as motors, transformers, etc. |
|
|
|
|
No. of Employees
: |
5535 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
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 97000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having fine track.
Financial position of the company appears to be sound. Fundamentals are
strong and healthy. Directors are reported to be experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are reported to be regular 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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
2nd Floor, East Wing Khanija Bhawan, 49, |
|
Tel. No.: |
91-80-22949150/54 |
|
Fax No.: |
91-80-22949148 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Corporate Office: |
Plot No. Street No. 17, Nashik – 422 007, |
|
|
|
|
Factory: |
|
|
|
|
|
Marketing and Service Centre: |
LOCATED AT :
|
|
|
|
|
Branch Offices : |
LOCATED AT –
|
|
|
|
|
Regional Offices : |
LOCATED AT –
|
|
|
|
|
Manufacturing Units : |
Tel. No.: 91-80-22949725
Tel. No.: 91-80-22949660
Tel. No.: 90-80-22949449 / 22949650 to 70
Tel. No.: 91-129-2275592
Tel. No.: 91-129-5023001 to 05 Halol Tel. No.: 91-2676-220999 Haridwar
Tel. No.: 91-1334-235447/50 Mumbai
Tel. No.: 91-22-66717272/73/74 Vadodara
Tel. No.: 91-265-2642141/42 |
DIRECTORS
As on 31.12.2010
|
Name : |
Mr. Gary Steel |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Bazmi R. Husain |
|
Designation : |
Managing Director (w.e.f. 01.01.2011) |
|
|
|
|
Name : |
Mr. Biplab Majumder |
|
Designation : |
Vice Chairman and Managing Director (upto 31.12.2010 and director (w.e.f. 01.01.2011) |
|
|
|
|
Name : |
Mr. N. S. Raghavan |
|
Designation : |
Independent
Director |
|
|
|
|
Name : |
Mr. Darius E Udwadia |
|
Designation : |
Independent
Director |
|
|
|
|
Name : |
Mr. Nasser Munjee |
|
Designation : |
Independent
Director |
|
|
|
|
Name : |
Mr. Peter Leupp |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Arun Kanti Dasgupta |
|
Designation : |
Independent Director |
|
Other Directorship : |
1) Life Insurance Corporation of India 2) Mahindra and Mahindra Limited 3) Grasim Industries Limited 4) LIC Cards Services Limited |
|
|
|
|
Name : |
Mr. Francis
Duggan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. B. Gururaj |
|
Designation : |
Company Secretary
|
|
|
|
|
Name : |
Mr. Bazmi R. Husain |
|
Designation : |
Country Manager |
|
|
|
|
Name : |
Mr. Amlan Datta
Majumdar |
|
Designation : |
Chief Financial
Officer |
|
|
|
|
Name : |
Mr. Raja Radhakrishnan |
|
Designation : |
Head - Human Resources |
|
|
|
|
Name : |
Mrs. Juliane Lenzner |
|
Designation : |
Head - Corporate Communications and Investor Relations |
|
|
|
|
Name : |
Mr. N. Venu |
|
Designation : |
Head - Sales and Marketing |
|
|
|
|
Name : |
Mr. S. Karun |
|
Designation : |
Head - Service and EHS |
|
|
|
|
Name : |
Mr. Ranjan De |
|
Designation : |
Head - Institutional Sales |
|
|
|
|
Name : |
Mr. Madhav Vemuri |
|
Designation : |
Head - Corporate Research |
|
|
|
|
Name : |
Mr. GNV Subba Rao |
|
Designation : |
Head - Process Automation |
|
|
|
|
Name : |
Mr. Pitamber Shivnani |
|
Designation : |
Head - Power Products |
|
|
|
|
Name : |
Mr. Prakash Nayak |
|
Designation : |
Head - Power Systems |
|
|
|
|
Name : |
Mr. Tommy Andreasson |
|
Designation : |
Head - Low Voltage Products |
|
|
|
|
Name : |
Mr. R. Narayanan |
|
Designation : |
Head - Discrete Automation and
Motion |
|
|
|
|
CORPORATE MANAGEMENT COMMITTEE : |
Mr. Bazmi R. Husain Mr. Amlan Datta Majumdar Mr. B. Gururaj Mr. GNV Subba Rao Mr. Juliane Lenzner Mr. Madhav Vemuri Mr. N. Venu Mr. Pitamber Shivnani Mr. Prakash Nayak Mr. R. Narayanan Mr. Raja Radhakrishnan Mr. Ranjan De Mr. S. Karun Mr. Tommy Andreasson |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2012
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
158,931,282 |
75.00 |
|
|
158,931,282 |
75.00 |
|
Total shareholding of Promoter and Promoter Group (A) |
158,931,282 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
3,215,265 |
1.52 |
|
|
24,022,617 |
11.34 |
|
|
6,790,599 |
3.20 |
|
|
34,028,481 |
16.06 |
|
|
|
|
|
|
1,136,795 |
0.54 |
|
|
|
|
|
|
16,950,684 |
8.00 |
|
|
381,735 |
0.18 |
|
|
479,398 |
0.23 |
|
|
3,500 |
- |
|
|
328,860 |
0.16 |
|
|
59,496 |
0.03 |
|
|
87,542 |
0.04 |
|
|
18,948,612 |
8.94 |
|
Total Public shareholding (B) |
52,977,093 |
25.00 |
|
Total (A)+(B) |
211,908,375 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
211,908,375 |
- |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of switchgears, pollution and environment control equipments and motors/alternators/generators. It is also into manufacture of electrical items such as motors, transformers, etc. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Motors and other machines |
HP |
4389000 |
4021646 |
|
Switchgear of all types |
Nos. |
17229216 |
10528361 |
|
PLCC Equipment |
Nos. |
3500 |
2696 |
|
Multiplexures |
Nos. |
100 |
25 |
|
Telemetering Equipments |
Nos. |
150 |
9 |
|
Turbochargers |
Nos. |
650 |
504 |
|
Transformers |
MVA |
20410 |
12356 |
|
Electronic Control and Supply Units for Variable Speed Drivers and other applications |
Nos. |
102958 |
45147 |
|
Mini Computer/Microprocessor based Systems |
Value Rs. in ‘000 |
4701000 |
2016170 |
|
Power Capacitors of all types |
MVAR |
7280 |
6210 |
|
Robotics |
Nos. |
74 |
56 |
|
Gas Analyzers and Systems |
Nos. |
400 |
299 |
|
Process Control Instruments |
Nos. |
45000 |
29088 |
GENERAL INFORMATION
|
No. of Employees : |
5535 (Approximately) |
|
|
|
|
Bankers : |
· Axis Bank Limited · Canara Bank · Citibank N.A. · DBS Bank Limited · Deutsche Bank AG · HDFC Bank Limited · ICICI Bank Limited · IDBI Bank Limited · State Bank of India · Standard Chartered Bank · The Hongkong and Shanghai Banking Corporation Limited · The Royal Bank of Scotland N.V. · Union Bank of India ·
YES BANK Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
|
|
|
Subsidiary |
· ABB (China) Limited, Beijing, China · ABB LV Installation Materials Company Limited, Beijing, China · ABB (Hong Kong) Limited, Hong Kong · ABB Malaysia Sdn Bhd., Subang Jaya, Malaysia · ABB (Pty) Limited, Gaborone, Botswana · ABB Management Services Limited, Zurich, Switzerland · ABB A/S, Skovlunde, Denmark · ABB Mexico S.A. de C.V., Tlalnepantla, Mexico · ABB AB, Västerĺs, Sweden · ABB N.V., Zaventem, Belgium · ABB AG, Mannheim, Germany · ABB Near East Trading Limited, Amman, Jordan · ABB AS, Billingstad, Norway · ABB Oy, Helsinki, Finland · ABB AS, Tallinn, Estonia · ABB Power Systems and Automation Technology S.A.E, Cairo, Egypt · ABB Australia Pty Limited, Sydney, Australia · ABB Pte. Limited, Singapore, Singapore · ABB Automation GmbH, Mannheim, Germany · ABB Qatar LLC., Doha, Qatar · ABB Automation Products GmbH, Ladenburg, Germany · ABB Research Limited, Zurich, Switzerland · ABB Azerbaijan LLC, Baku, Azerbaijan · ABB S.A. de CV, San Salvador, El Salvador · ABB Bailey Beijing Engineering Company Limited, Beijing, China · ABB S.A., Buenos Aires, Argentina · ABB Beijing Drive Systems Company Limited, Beijing, China · ABB S.A., Casablanca, Morocco · ABB Bomem Inc., Quebec, Canada · ABB S.A., Lima, Peru · ABB BV, Rotterdam, Netherlands · ABB S.A., Panama, Panama · ABB Capital, B.V., Amsterdam, Netherlands · ABB S.A., Rueil-Malmaison, France · ABB Chongqing Transformer Company Limited, Chongqing, China · ABB S.A., Santiago, Chile · ABB CL Logistic S.A., Montevideo, Uruguay · ABB S.p.A., Milan, Italy · ABB Contracting Company Limited, Riyadh, Saudi Arabia · ABB s.r.o., Prague, Czech Republic · ABB d.o.o., Belgrade, Serbia · ABB Schweiz AG, Baden, Switzerland · ABB D.o.o., Ljubljana, Slovenia · ABB Sécheron S.A., Satigny, Switzerland · ABB Electrical Industries Limited, Riyadh, Saudi Arabia · ABB Service (Private) Limited, Harare, Zimbabwe · ABB Electrical Machines Limited, Shanghai, China · ABB Service Company Limited, Al Khobar, Saudi Arabia · ABB Electroengineering Limited, Moscow, Russian Federation · ABB Shanghai Motors Company Limited, Shanghai, China · ABB Elektrik Sanayi A.S., Istanbul, Turkey · ABB South Africa (Pty) Limited, Modderfontein, South Africa · ABB Engg. Technologies Co. (KSCC), Safat, Kuwait · ABB Sp. zo.o., Warsaw, Poland · ABB Engineering (Shanghai) Limited, Shanghai, China · ABB SRL, Bucharest, Romania · ABB Engineering Trading and Service Limited, Budapest, Hungary · ABB Stotz-Kontakt GmbH, Heidelberg, Germany · ABB ESAP Limited, St. Peter's Port, Guernsey · ABB Technologies S.A., Dakar, Senegal · ABB France SAS, Rueil Malmaison cedex, France · ABB Technologies W.L.L., Bahrain, Bahrain · ABB FZ-LLC, Dubai, United Arab Emirates · ABB Technology AB, Västeras, Sweden · ABB Global Industries and Services Limited, Bangalore, India · ABB Technology Limited, Zurich, Switzerland · ABB Global Marketing FZ LLC, Dubai, United Arab Emirates · ABB Technology SA, Abidjan, Cote D'Ivoire · ABB High Voltage Switchgear (Xiamen) Company Limited, Xiamen, China · ABB Transmission and Distribution Automation Equipment (Xiamen) Company Limited, Xiamen, China · ABB High Voltage Switchgear Company Limited, Beijing, China · ABB Holding AS, Billingstad, Norway · ABB Transmission and Distribution Limited, Abu Dhabi, United Arab Emirates · ABB Holdings (Pty) Limited, Sunninghill, South Africa · ABB Trasmissione and Distribuzione S.p.A., in liquidazione, Milan,Italy · ABB Holdings Sdn. Bhd., Subang Jaya, Malaysia · ABB Turbo Systems (Hong Kong) Limited, Hong Kong, Hong Kong · ABB Inc., Norwalk CT, United States of America · ABB Turbochargers S.A.E., Suez, Egypt · ABB Inc., St. Laurent, Quebec, Canada · ABB Turbo-Systems AG, Baden, Switzerland · ABB Industries (L.L.C.), Dubai, United Arab Emirates · ABB UAB, Vilnius, Lithuania · ABB Industries FZ, Dubai, United Arab Emirates · ABB Xiamen Electrical Controlgear Company Limited, Xiamen, China · ABB Information Systems Limited, Zurich, Switzerland · ABB Instrumentation Limited, Warrington, United Kingdom · ABB Xiamen Switchgear Company Limited, Xiamen, China · ABB International Marketing Limited, Zurich, Switzerland · ABB Xi'an Power Capacitor Company Limited, Xi'an, China · ABB Intra AG, Zurich, Switzerland · ABB Xinhui Low Voltage Switchgear Company Limited, Xinhui , China · ABB Jiangjin Turbo Systems Company Limited, Chongqing, China · ABB, Inc., Paranaque, Metro Manila, Philippines · ABB K.K., Tokyo, Japan · ABB, s.r.o., Bratislava, Slovakia · ABB Limited, Auckland, New Zealand · ABBNG Limited, Lagos, Nigeria · ABB Limited, Bangkok, Thailand · Asea Brown Boveri (Pty) Limited, Windhoek, Namibia · ABB Limited, Nairobi, Kenya · Asea Brown Boveri Electrica SGPS (Angola) Limitada, Luanda, Angola · ABB Limited, Warrington, United Kingdom · Asea Brown Boveri Limited, Port Louis, Mauritius · ABB LLC,, Al Hamriya, Oman · Asea Brown Boveri Ltda., Bogotá, Colombia · ABB LLP., Almaty, Kazakhstan · Asea Brown Boveri Ltda., La Paz, Bolivia · ABB Logistics Center Europe GmbH, Menden, Germany · Asea Brown Boveri S.A., Madrid, Spain · ABB Limited, Dublin, Ireland · Asea Brown Boveri S.A., Metamorphossis Attica, Greece · ABB Limited, Hanoi, Vietnam · Asea Brown Boveri S.A.E., Cairo, Egypt · ABB Limited, Kiev, Ukraine · Busch-Jaeger Elektro GmbH, Mannheim/Lüdenscheid, Germany · ABB Limited, Lusaka, Zambia Electrical Materials Center, Riyadh, Saudi Arabia · ABB Limited, Moscow, Russian Federation PT · ABB Installation Materials, Jakarta, Indonesia · ABB Limited, Seoul, Korea, Republic Of Korea PT · ABB Jasa Indonesia, Jakarta, Indonesia · ABB Limited, Taipei, Taiwan, Province Of China PT · ABB Sakti Industri, Jakarta, Indonesia · ABB Limited, Zagreb, Croatia PT · ABB Transmission and Distribution, Jakarta, Indonesia · ABB Limited, Osasco, Brazil · Pucaro Elektro-Isolierstoffe GmbH, Roigheim, Germany · Turbo Systems United Company Limited, Tokyo, Japan |
|
|
|
|
Membership : |
Confederation of Indian Industry |
|
|
|
|
Holding company : |
ABB Asea Brown Boveri Limited, |
CAPITAL STRUCTURE
AS ON 31.12.2010
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
212500000 |
Equity Shares |
Rs.2/- each |
Rs.425.000 Millions |
|
750000 |
11% Redeemable 10 year, Cumulative Preference Shares |
Rs.100/- each |
Rs.75.000 Millions |
|
|
TOTAL |
|
Rs.500.000
millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
211908375 |
Equity Shares |
Rs.2/- each |
Rs.423.817 millions |
|
|
|
|
|
Notes:
Share Capital Includes:
a)
46185525 Equity Shares of
Rs.2 each allotted as fully paid up at par, pursuant to contracts for
consideration other than cash.
b)
1000000 equity shares of
Rs.2 each issued to the holders of 40000-8.57% cumulative preference shares of
Rs.100 each on cancellation of the preference shares in terms of Scheme of
Compromise between the Company and its preference/equity shareholders in 1988
c)
42219465 and 51772945
equity shares of Rs.2 each issued as fully paid up bonus shares by
capitalization of General Reserve Account and Securities Premium Account
respectively
d)
146390952 equity shares
of Rs.2 each are held by ABB Asea Brown Boveri Limited, Zurich, Switzerland,
the holding company and 12540330 equity shares of Rs.2 each are held By ABB
Norden Holdings AB, Sweden, a subsidiary of the holding company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
423.817 |
423.817 |
423.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23813.219 |
23813.515 |
20765.700 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
24237.036 |
24237.332 |
21189.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.200 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.200 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24237.036 |
24237.332 |
21189.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7660.842 |
6731.296 |
5458.300 |
|
|
Capital work-in-progress |
576.965 |
1163.391 |
1375.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
167.958 |
168.792 |
611.200 |
|
|
DEFERREX TAX ASSETS |
45.966 |
0.966 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6978.526
|
7294.061
|
6426.500
|
|
|
Sundry Debtors |
29259.657
|
28577.298
|
29758.900
|
|
|
Cash & Bank Balances |
5871.250
|
5241.405
|
3482.300
|
|
|
Other Current Assets |
3611.195
|
3203.027
|
0.000
|
|
|
Loans & Advances |
3541.588
|
3176.861
|
7789.100
|
|
Total
Current Assets |
49262.216
|
47492.652
|
47456.800
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16401.756
|
14784.204
|
|
|
|
Other Current Liabilities |
15228.721
|
15085.122
|
|
|
|
Provisions |
1846.434
|
1450.439 |
1596.300
|
|
Total
Current Liabilities |
33476.911
|
31319.765
|
33711.800
|
|
|
Net Current Assets |
15785.305
|
16172.887
|
13745.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24237.036 |
24237.332 |
21189.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
62871.118 |
62372.014 |
73402.400 |
|
|
|
Other Income |
855.236 |
725.696 |
1304.200 |
|
|
|
TOTAL (A) |
63726.354 |
63097.710 |
74706.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
48020.949 |
45178.728 |
20835.000 |
|
|
|
Personnel Expenses |
4901.126 |
3892.346 |
0.000 |
|
|
|
Increase/(Decrease) in Finished Goods |
0.000 |
0.000 |
(737.800) |
|
|
|
Other Expenditure |
9111.441 |
8026.815 |
45416.400 |
|
|
|
Expenses Capitalized |
0.000 |
(15.473) |
0.000 |
|
|
|
TOTAL (B) |
62033.516 |
57082.416 |
65513.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1692.838 |
6015.294 |
9193.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
173.927 |
256.242 |
493.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1518.911 |
5759.052 |
8699.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
516.608 |
485.058 |
366.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1002.303 |
5273.994 |
8332.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
370.000 |
1727.603 |
2858.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
632.303 |
3546.391 |
5474.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
607.178 |
556.632 |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
200.000 |
3000.000 |
-- |
|
|
|
Proposed Dividend |
423.817 |
423.817 |
-- |
|
|
|
Corporate Dividend Tax |
70.391 |
72.028 |
-- |
|
|
|
Corporate Dividend Tax 2009 |
(1.637) |
0.000 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
546.910 |
607.178 |
-- |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods |
9315.239 |
8201.205 |
NA |
|
|
|
Goods supplied/services rendered locally against foreign exchange
remittances |
661.455 |
8.597 |
NA |
|
|
|
Erection & Other Services |
209.769 |
427.058 |
NA |
|
|
|
Other Income |
254.205 |
132.661 |
NA |
|
|
TOTAL EARNINGS |
10440.668 |
8769.521 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components including Spares |
10321.908 |
11030.965 |
NA |
|
|
|
Finished Goods |
2139.614 |
2301.267 |
NA |
|
|
|
Capital Goods including Technical Know-how |
208.838 |
232.0211 |
NA |
|
|
|
Project items |
5541.720 |
6455.914 |
NA |
|
|
TOTAL IMPORTS |
18212.080 |
20020.1671 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.98 |
16.74 |
129.17 |
|
QUARTERLY RESULTS
|
PARTICULARS |
31.03.2011 |
30.06.2011 |
30.09.2011 |
31.12.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
17930.520 |
17125.250 |
17435.260 |
21998.720 |
|
Total Expenditure |
16943.450 |
16270.380 |
16768.820 |
20918.360 |
|
PBIDT (Excl OI) |
987.070 |
854.870 |
666.440 |
1080.360 |
|
Other Income |
74.490 |
65.130 |
37.740 |
13.510 |
|
Operating Profit |
1061.560 |
920.000 |
704.180 |
1093.870 |
|
Interest |
39.970 |
66.520 |
71.080 |
129.230 |
|
PBDT |
1021.590 |
853.480 |
633.100 |
964.640 |
|
Depreciation |
144.150 |
264.280 |
262.530 |
124.470 |
|
Profit Before Tax |
877.450 |
589.200 |
370.570 |
840.170 |
|
Tax |
281.990 |
202.000 |
149.000 |
199.040 |
|
Profit After Tax |
595.460 |
387.200 |
221.570 |
641.130 |
|
Net Profit |
595.460 |
387.200 |
221.570 |
641.130 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
0.99
|
5.62 |
7.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.59
|
8.46 |
11.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.76
|
9.73 |
1.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.22 |
6.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.38
|
1.29 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.52 |
15.75 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
No |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
No |
Performance Review:
Orders received during the year at Rs.63,496 million were 27% lower as compared to Rs.86,847 million in the previous year. Order backlog at the end of 2010 was at the same level of Rs.84,362 million compared to Rs.84,787 million at the end of the previous year.
Sales and other income for the year were marginally higher by 1% at Rs.63,726 million compared to Rs.63,098 million in the previous year. Revenues of all the segments were higher than the previous year except Power Products and Process Automation which saw a negative growth of 9% and 8% respectively.
Profit before tax for the year was lower at Rs.1,002 million as compared to Rs.5,274 million in the previous year, mainly on account of exit costs of rural electrification business, strategic orders with lower margin, higher input costs witnessed by the industry and adverse impact from fair valuation of forward foreign exchange and embedded derivative contracts.
Profit after tax at Rs.632 million for the year has reduced by 82% compared to Rs.3,546 million in the previous year. Earning per equity share of face value of Rs.2/- correspondingly decreased to Rs.2.98 compared to Rs16.74 in the previous year.
BOARD OF DIRECTORS:
Mr. Bernhard Jucker was appointed as an Alternate Director for Mr. Peter Leupp during the period from April 30, 2010 to July 29, 2010 when Mr. Leupp was a Director.
Mr. Biplab Majumder, Vice Chairman and Managing Director of the Company resigned and his resignation was accepted by the Board from the close of office hours on December 31, 2010.
The Directors place on record their appreciation of the valuable services rendered by the above Directors during their tenure as Alternate Director and Managing Director of the Company respectively.
Mr. Majumder was appointed as an Additional Director effective January 1, 2011. He holds office upto the date of this Annual General Meeting. He does not wish to seek reappointment.
Mr. Bazmi R. Husain was appointed as an Additional Director. He was also appointed as the Managing Director of the Company with effect from January 1, 2011, subject to approval of the share holders in general meeting.
Mr. Arun Kanti Dasgupta, Director of the Company is due to retire by rotation at this Annual General Meeting and is eligible for re-appointment.
Mr. Gary Steel was appointed as a Director of the Company with effect from February 20, 2009, in the casual vacancy caused by the resignation of Mr. Ravi Uppal. Since Mr. Ravi Uppal would have retired by rotation at this Annual General Meeting had he not resigned, Mr. Gary Steel would also cease to hold the office of Director at this Annual General Meeting, pursuant to Section 262 of the Companies Act, 1956 and is eligible for reappointment as a Director.
MANAGEMENT'S
DISCUSSION AND ANALYSIS
OPERATING
RESULTS OF THE COMPANY:
During the year 2010, the Company secured orders of
Rs.63,496 million, compared to highest ever level of Rs.86,847 million in the
previous year. Booking of certain high value orders in the previous year,
competitive market environment, management’s decision to be selective based on
credit and other risks for certain opportunities, de-logging of certain
non-moving orders in non-core businesses upon foreclosure and delay in
decisions by the customers accounted for lower order receipt during the year
2010. Company’s order backlog at the end of the year stood at Rs.84,362 million
thereby providing significant revenue visibility for the coming year.
Revenues during the year were at Rs.63,726 million as
compared to Rs.63,098 million in the previous year. Lower short-cycle orders,
decision to exit from rural electrification business of power systems segment
and longer execution schedule of large value project orders resulted in
marginal growth of revenues during the year.
Profit before tax for the year was lower at Rs.1,002 million
as compared to Rs.5,274 million in the previous year, mainly on account of exit
costs of rural electrification business, strategic orders with lower margin,
higher input costs witnessed by the industry and adverse impact from fair
valuation of forward foreign exchange and embedded derivative contracts. During
the year, management continued to pursue several cost optimisation measures
which along with lower interest expenses partially helped in reducing the above
impact. Net profit after tax stood at Rs.632 million.
During the year, the Company has successfully commissioned
certain new manufacturing facilities, completed planned expansion projects and
continued to expand its range of offerings along with introducing several new
products. Investment in fixed assets during the year was Rs.1,044 million.
OUTLOOK
FOR THE COMPANY:
ABB Group demonstrated its higher engagement and confidence in
the Indian market and its Indian operations by increasing its shareholding from
52.11% to 75% during the year. The Company expects the investment in power and
other infrastructure sectors in India to continue. With growing robust domestic
economy, comfortable order backlog position, potential for increase in exports,
adequate manufacturing and engineering capabilities coupled with access to
state-of-art global technologies, management is confident, barring unforseen
circumstances, of sustainable profitable growth of the Company in coming years.
FINANCE:
Interest rates after remaining stable in initial part of the
year have started rising in the later part of the year. Liquidity position of
the Company was comfortable and the Company remained debt free. Company
remained focused on its working capital management. Interest expenses during
the year reduced to Rs.174 million compared to Rs.256 million in the previous
year. Interest income from placement of temporary surplus funds as fixed
deposits with the banks increased significantly on account of higher surplus
fund and increase in interest rates to Rs.91 million as compared to Rs.11
million in the previous year. Net cash position (cash and bank balances less
loan fund) at the end of the year was higher at Rs.5,871 million compared to
Rs.5,241 million at the end of the previous year. The Company continued its
policy to hedge all its foreign currency exposures for imports and exports to
protect contract margins. As in the past, Company has maintained excellent
relationship with major banks operating in India and was able to avail and
negotiate favourable terms for various banking facilities.
CONTINGENT LIABILITIES
|
Particulars |
31.12.2010 |
31.12.2009 |
|
|
(Rs. In
Millions) |
|
|
|
|
|
|
Claims against the Company not acknowledged as debts in
respect of sales tax, excise and other matters |
2956.464 |
1685.368 |
|
|
|
|
|
Bills discounted The above excludes bills co-accepted by the customers’ bankers/guaranteed
by the State Governments Rs.0.051 Million |
-- |
-- |
|
|
|
|
|
Income tax matters in dispute |
110.936 |
130.379 |
|
|
|
|
|
The Company does not expect any reimbursements in respect of
the above contingent liabilities and it is not practicable to estimate the
timings of cash outflows, if any, in respect of matters above pending
resolution of the arbitration / appellate proceedings. |
||
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER ENDED ON 31ST MARCH, 2011
(Rs. in Millions)
|
I For Company as a
whole |
|
|
|
|
Particulars |
3 months ended 31.03.2011 |
|
|
|
|
|
1 |
(a) Net Sales/Income from Operations |
17813.051 |
|
|
(b) Other Operating Income |
146.572 |
|
|
Total Operating Income (a+b) |
17959.623 |
|
2 |
Expenditure |
|
|
|
(a) (Increase)/Decrease in Stock in Trade
and Work in Progress |
(169.611) |
|
|
(b) Consumption of Materials and Costs of
Erection Services |
12942.378 |
|
|
(c) Purchase of Traded Goods |
787.960 |
|
|
(d) Employee Cost |
1253.027 |
|
|
(e) Depreciation / Amortisation |
144.147 |
|
|
(f) Other Expenditure |
2129.685 |
|
|
(g) Total |
17087.586 |
|
|
|
|
|
3 |
Profit from Operations before Other Income,
Interest and Exceptional Items (1-2) |
872.037 |
|
4 |
Other Income |
45.393 |
|
5 |
Profit before Interest and Exceptional
Items (3+4) |
917.430 |
|
6 |
Interest |
39.972 |
|
7 |
Profit after Interest but before
Exceptional Items (5-6) |
877.458 |
|
8 |
Exceptional Items |
0.000 |
|
9 |
Profit(+)/ Loss (-) from ordinary
activities before tax (7+8) |
877.458 |
|
10 |
Tax Expenses |
|
|
|
- Current Tax |
292.000 |
|
|
- Deferred Tax |
(10.000) |
|
11 |
Net Profit(+)/ Loss(-) from ordinary activities
after tax (9-10) |
595.458 |
|
12 |
Extraordinary Items (net of tax expenses) |
0.000 |
|
13 |
Net Profit(+)/ Loss(-) for the period
(11-12) |
595.458 |
|
14 |
Paid-up Equity Share Capital (Face value per share - Rs. 2/- each) |
423.817 |
|
15 |
Reserves excluding Revaluation Reserves as
per Balance Sheet of previous accounting year |
|
|
16 |
Earnings Per Share (EPS) - (Rs.) a) Basic and diluted EPS before
Extraordinary Items for the period, for the year to date and for the previous
year (not annualised) |
2.81 |
|
|
b) Basic and diluted EPS after
Extraordinary Items for the period, for the year to date and for the previous
year (not annualised) |
2.81 |
|
17 |
Public shareholding - Number of Equity Shares - Percentage of shareholding |
52977093 25.00% |
|
18 |
Promoters and promoter group Shareholding
a) Pledged/Encumbered - Number of Shares - Percentage of shares (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 |
158931282 |
|
|
- Percentage of shares (as a % of the total
shareholding of promoter and promoter group) |
100.00% |
|
|
- Percentage of shares (as a % of the total
share capital of the company) |
75.00% |
(Rs. in Millions)
|
II |
Revenues, Results and Capital Employed for
the Segments |
|
|
|
Particulars |
3 months ended 31.03.2011 |
|
1 |
Segment Revenues |
|
|
|
Power Systems |
5722.971 |
|
|
Power Products |
4399.709 |
|
|
Process Automation |
3297.717 |
|
|
Discrete Automation and Motion |
4174.159 |
|
|
Low Voltage Products |
1297.330 |
|
|
Total |
18891.886 |
|
|
Unallocated |
77.277 |
|
|
Total |
18969.163 |
|
|
Less : Inter segment revenues |
1009.540 |
|
|
Total
Operating Income |
17959.623 |
|
2 |
Segment Results (Profit Before Tax and
Interest) |
|
|
|
Power Systems |
17.108 |
|
|
Power Products |
214.460 |
|
|
Process Automation |
216.820 |
|
|
Discrete Automation and Motion |
508.702 |
|
|
Low Voltage Products |
104.284 |
|
|
Total |
1061.374 |
|
|
(Add) / Less - Interest |
39.972 |
|
|
- Other unallocated expenditure net off
unallocated income |
143.944 |
|
|
Total
Profit Before Tax |
877.458 |
|
3 |
Capital Employed |
|
|
|
Power Systems |
4149.172 |
|
|
Power Products |
6072.353 |
|
|
Process Automation |
3291.740 |
|
|
Discrete Automation and Motion |
2531.387 |
|
|
Low Voltage Products |
1379.138 |
|
|
Unallocated |
7408.704 |
|
|
Total |
24832.494 |
III Notes:
(1) This statement has been
reviewed by the Audit Committee and recommended for approval to the Board and
the Board approved at its meeting held on 11th May, 2011.
(2) Other Operating Income includes
Foreign exchange variation - (net) gain of Rs.29.100 Millions, which includes
gain on account of fair valuation of foreign exchange forward contracts for
firm trade commitments and embedded derivative contracts amounting to
Rs.156.100 Millions for the quarter. For the corresponding quarter of the
previous year, Foreign exchange variation - (net) loss of Rs.823.000 Millions,
which includes loss of Rs.695.400 Millions on account of fair valuation of
foreign exchange forward contracts for firm trade commitments and embedded
derivative contracts is included in Other Expenditure.
(3) On 30th March, 2011, the
Company entered into an agreement with ABB Global Industries and Services Limited,
to purchase and acquire the assets and liabilities, effective 1st April, 2011,
three businesses; (a) Transformer Insulation - Boards and Components, (b) Low
Voltage Breakers and Switches and (c) Vacuum Interrupters for an aggregate
consideration of Rs.4000.000 Millions on a slump sale basis.
(4) There were no complaints from
investors outstanding at the beginning of the quarter. The Company had received
50 complaints from investors during the quarter and all the complaints were
resolved during the quarter. There was no complaint pending to be resolved at
the end of the quarter.
(5) The figures of the previous
year/ periods have been regrouped/ reclassified, wherever necessary.
(6) The auditors have conducted a
"Limited Review" of the above financial results for the quarter ended
on 31st March, 2011.
Fixed Assets:
·
Freehold land
·
·
Leasehold Improvements
·
Factory Buildings
·
Other Building
·
Residential Quarters
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicle
WEBSITE DETAILS:
History
General:
·
The Company was
incorporated on 24.12.1949 as The Hindustan Electric Company Limited.
·
On 24.09.1965, the
Company’s name was changed to Hindustan Brown Boveri Limited (HBB).
·
Pursuant to the Scheme
of Amalgamation of Asea Limited with HBB with effect from 1st January 1989, the
name was further changed to Asea Brown Boveri Limited, with effect from
13.10.1989.
·
Effective 16.04.2003,
the name was further changed to ABB Limited.
Flakt
India Limited was amalgamated with ABB with effect from 5th October 1995.
During
1994-95, a joint venture Company - ‘ABB Daimler-Benz Transportation AG’
(Adtranz) was established by ABB Zurich and Daimler-Benz AG, Germany, in
Germany. A subsidiary of Adtranz was incorporated in India viz. ’ABB
Daimler-Benz Transportation Limited which took over the Transportation Business
of the Company effective 1st January 1996.
ABB’s
power generation business was globally transferred into the new 50-50 JV with
Alstom in 1999. In India the power generation business has been demerged and
transferred to ABB Alstom Power India Ltd. with effect from 1st April 1999. In
consideration of the transfer of the power business, each shareholder of ABB
has been allotted one share in ABB Alstom Power India Ltd. for every share held
in the company.
Capital:
The
Authorised Share Capital of the Company is Rs.500.000 Millions divided into
212,500,000 Equity Shares of Rs.2/- each and 750,000 – 11% Redeemable 10 years,
Cumulative Preference Shares of Rs.100/- each.
Effective
July 2007, the Issued, Subscribed and Paid-up share capital of the Company, is
Rs.423.817 Millions, consisting of 211,908,375 Equity Shares of the face value
of Rs.2/- each.
PRESS RELEASES
ABB commissions 765 kV substations in India
Bangalore, India, April 19, 2012 -
Substations to link generation hubs to load centers in Western and Central
parts of the country
ABB, the leading power and
automation technology group, has recently commissioned three 765 kV substations
for Powergrid Corporation of India Limited (PGCIL). The substations are located
in Wardha,Seoni and Bilaspur in the Indian states of Maharashtra, Madhya
Pradesh and Chhattisgarh, respectively.
The projects form part of PGCIL’s
plans for building a strong national grid by 2012. From the current
inter-regional power flow capacity of 27950 MW, the utility aims to take the
capacity up to, 80000 MW through four main regional transmission grids. An
extensive 800 kV extra high voltage (EHV) network will form the backbone of
this network.
ABB executed the project on a
turnkey basis with end-to-end power equipment supply and project management.
The overall project scope comprised the design, engineering, manufacturing,
testing, erection and commissioning of the 765 kV and 400 kV switchyards,
including civil works.
“ABB has partnered with PGCIL to
play an important role in establishing the 765 kV network in India. ABB’s EHV
equipment is based on cutting-edge technologies to provide maximum system reliability.
We are presently executing several more 765 kV substation projects in India and
are pleased to continue supporting the development of the country’s power
infrastructure,” said N Venu, head of the Power Systems division for ABB in
India.
The three substations will enable
more power to reach consumers, help meet increasing electricity demand and
support the growing economy of the region. They will also strengthen the
transmission and distribution network and improve efficiency and reliability of
power supply.
Substations are key installations
in the power grid that transform voltage levels and facilitate the safe and
efficient transmission and distribution of electricity. They include equipment
that protects and controls the flow of electrical power, enhancing grid
reliability.
ABB (www.abb.com) is a leader in
power and automation technologies that enable utility and industry customers to
improve their performance while lowering environmental impact. The ABB Group of
companies operates in around 100 countries and employs about 135,000 people.
ABB to invest Rs.2500.000 Millions to expand power products
manufacturing base in India
Bangalore, India, April 16, 2012 - Investment
to enable local production of gas insulated switchgear and dry-type transformers
ABB, the leading power and automation
technology group, will invest around Rs. 2500.000 millions to build new
facilities in India to manufacture high-voltage power products and
transformers. The expansion is part of ABB’s strategy to develop, manufacture
and market products that meet the needs of Indian customers, as well as serving
as an export hub.
"The new manufacturing units will further
strengthen our local footprint and enhance our product portfolio. They will
enable us to serve our customers better as we continue to support the
development of the country's power infrastructure" said Pitamber Shivnani,
Local Division Manager, Power Products in India.
The facilities will be located in Savli near
Vadodara, Gujarat and produce high-voltage gas-insulated switchgear (GIS) and
PASS (plug and switch system) hybrid switchgear as well as dry-type and oil
immersed distribution transformers. The facilities are expected to be
operational by the end of 2012.
A pioneer in GIS technology, ABB`s latest series
can offer space savings of up to 90 percent compared to conventional
air-insulated switchgear. Its low-weight, robust design enables the equipment
to be deployed even in harsh conditions and enhances system reliability,
efficiency and minimizes maintenance needs.
ABB’s plug and switch system (PASS) is a
hybrid switchgear solution that combines features of air- and gas-insulated
technologies. It incorporates the functions of a complete switchgear bay in a
single module, and can be installed in a few hours. Compared to conventional
technology, ABB`s factory-assembled solution requires up to 60 percent less
space, and is easily integrated into existing substations, which enables bay
extensions with minimum down time.
The new transformer factory will manufacture
vacuum cast coil dry-type transformers and oil immersed distribution
transformers. It will help to bridge a gap in the present product offering in
India and extend the distribution transformer range up to 10 megavolt amperes
(MVA), 33 kilovolts (kV). It will also enable localization of vacuum cast coil
dry-type transformers.
ABB has global expertise in the design and
manufacture of transformers for special requirements that optimize space and
can withstand the most demanding conditions. Dry-type transformers help reduce
environmental impact and can be deployed in environmentally challenging
conditions.
ABB (www.abb.com) is a leader in power and
automation technologies that enable utility and industry customers to improve
performance while lowering environmental impact. The ABB Group of companies
operates in around 100 countries and employs about 135,000 people.
ABB wins Rs.750.000 Millions order in India to power metro for pink city
Bangalore, India, April 12, 2012 -
Substations, electrification and SCADA system to facilitate reliable and
efficient power supply
ABB, the leading power and automation
technology group, has won an order worth Rs.750.000 Millions from Delhi Metro
Rail Corporation Limited (DMRC) to provide power solutions for a planned metro
rail network for Jaipur, also known as the ‘pink city’ and the capital of
Rajasthan, a state in northern India. The order was booked in the first
quarter.
The Jaipur Mass Rapid Transport System (MRTS)
is being promoted as an eco-friendly project deploying state-of-the-art
technologies and is expected to carry approximately 11,000 commuters per hour
on each rail corridor when fully operational, reducing road traffic bottlenecks
and lowering carbon emissions from cars.
“ABB’s extensive and broad technology
offerings and experience in rail sector make us a reliable partner,” said Bazmi
Husain, Managing Director, ABB Ltd., India. “As most of India now moves and
works out of cities, projects like metro is set to bring relief to millions of
local commuters and easing traffic congestion.”
The turnkey project includes design, supply,
installation and commissioning of essential power infrastructure for stage 1 of
the East-West Corridor of the Jaipur Mass Rapid Transport System (MRTS). This
section will serve eight passenger stations. ABB will supply 11 auxiliary
substations with a rating of 33kV/415V (kilovolt).
The project scope includes electrification of
overhead lines, provision of auxiliary substations and the supply of a SCADA
(Supervisory Control and Data Acquisition) solution, which enables the
monitoring and control of field equipment and key components of the power
distribution system. This facilitates smooth operations and enables proactive
measures to avoid service interruptions, thereby enhancing performance and
optimizing cost-efficiency. ABB will also deliver key products including the
switchgear, dry type transformers and distribution equipment.
ABB technologies are already helping to power
the Delhi, Mumbai, Kolkata and Bangalore urban rail networks in the country,
with highly reliable and energy efficient solutions, facilitating the concept
of ‘green mobility’.
Urbanization, economic growth and
environmental concerns in emerging markets are some of the key trends
supporting the expansion of rail networks in many parts of the world. ABB has a
wide range of power and automation products and solutions for urban,
conventional and high-speed rail applications and has built up an extensive
global installed base.
ABB (www.abb.com) is a leader in power and
automation technologies that enable utility and industry customers to improve
performance while lowering environmental impact. The ABB Group of companies
operates in around 100 countries and employs about 135,000 people.
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.52.68 |
|
|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
75 |
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.