MIRA
INFORM REPORT
|
Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ANCHOR ELECTRICALS PRIVATE LIMITED |
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Registered
Office : |
Steel House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper Box,
Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.04.1981 |
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Com. Reg. No.: |
11-128292 |
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Capital Investment/
Paid-up Capital: |
Rs.4375.245 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U31200MH1981FTC128292 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18689G |
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|
PAN No.: [Permanent Account No.] |
AAECA2190C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged mainly in the business of Manufacturing and
Selling electrical products comprising all types of Switches, Accessories, Wire
and Cables, Luminaries, Fans and Circuit Breakers. |
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|
|
|
No. of
Employees: |
2000 (Solo Employees) 10000 (Group Employees) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 37000000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track. Directors are reported
to be an experienced and respectable businessman. 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Makrant |
|
Designation : |
Assistant Finance Manager |
|
Contact No.: |
91-22-30418888 |
|
Date : |
27.04.2012 |
LOCATIONS
|
Registered Office : |
Steel House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper Box,
Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-30418888 |
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Fax No.: |
91-22-30418887 |
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E-Mail : |
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|
Website : |
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Corporate Office 1 : |
Unit No.101, Innova C, Marathon Nextgen, Ganpatrao Kadam Marg, Lower
Parel (West), Mumbai-400013, |
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Tel. No.: |
91-22-30418888 |
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Fax No.: |
91-22-30418889/ 86 |
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E-Mail : |
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|
Website : |
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|
Area : |
3000 sq. ft. |
|
Location : |
Owned |
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|
|
|
Corporate office 2 : |
Marathon Innova, C- Wing, 1st Floor, Opposite Peninsula
Corporate Park, Off G. K. Marg, Lower Parel (West), Mumbai – 400013,
Maharashtra, India |
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|
|
|
Corporate office 3 : |
8, |
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Factory 1 : |
Plot No.49, |
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Tel No.: |
91-22-32952416 |
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Fax No.: |
91-22-66938695 |
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Area : |
2000 sq. ft. |
|
Location : |
Rented |
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|
Factory : |
Also Located at
:
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State Offices : |
Located at:
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Sales Offices : |
Located at:
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Branch Office : |
206, 207-208, Darshen Mall, Race Course Road, Opposite I.D.A Building,
Indore – 45200., Madhya Pradesh, India |
|
Tel. No : |
91-731-3952505 |
DIRECTORS
As on: 21.05.2011
|
Name : |
Mr. Toshichide Arii |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Marriott Executive Apartment, Apartment No. 718, 2 and 3B,
Near Chinmayanand Ashram, Powai, Mumbai - 400 087, |
|
Date of Birth/Age : |
30.09.1956 |
|
Qualification : |
BA – Commerce |
|
Experience : |
31 Years |
|
Date of Appointment : |
22.04.2010 |
|
Din No : |
01451322 |
|
|
|
|
Name : |
Takaki Oguri |
|
Designation : |
Whole Time Director |
|
Address : |
Lakeside Chalet Marriott Executive Apartment No.714, 2 and
3 B, Near Chinmayanand Ashram, Mumbai-400 087, |
|
Date of Birth/Age : |
27.11.1962 |
|
Date of Appointment : |
01.04.2011 |
|
Din No : |
01450431 |
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|
|
|
Name : |
Holger Alexander Otto Hoffmann |
|
Designation : |
Director Finance and Administration |
|
Address : |
Somerset Flat No. 2201, 22nd Floor, |
|
Date of Birth/Age : |
08.11.1962 |
|
Date of Appointment : |
01.08.2009 |
|
Din No : |
00684968 |
|
|
|
|
Name : |
Mr. Dinesh Vishwanath Aggarwal |
|
Designation : |
Whole Time Director |
|
Address : |
A 404 A Wing Rainbow 4th Floor Raheja Vihar
Near, Chandivali Studio Powai, Mumbai – 400072, |
|
Date of Birth/Age : |
10.11.1964 |
|
Date of Appointment : |
01.04.2011 |
|
Din No : |
03006235 |
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|
|
|
Name : |
Shuji Okayama |
|
Designation : |
Director |
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Address : |
4-10-18-107, Hon Machi, |
|
Date of Birth/Age : |
30.10.1958 |
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Date of Appointment : |
02.12.2010 |
|
Din No : |
03377229 |
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|
|
|
Name : |
Hiroyuki Mikami |
|
Designation : |
Director |
|
Address : |
2-19-13, Kozu, Shi-Osakha, Fu |
|
Date of Birth/Age : |
12.10.1957 |
|
Date of Appointment : |
02.12.2010 |
|
Din No : |
03372236 |
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|
|
|
Name : |
Harumasa Furutani |
|
Designation : |
Director |
|
Address : |
777, Nakanoshima Wakayama – Shi – 6408392, Japan |
|
Date of Birth/Age : |
08.09.1959 |
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Date of Appointment : |
21.05.2011 |
|
Din No : |
03528760 |
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|
|
|
Name : |
Kiyoshi Kazuyoshi Otaki |
|
Designation : |
Director |
|
Address : |
702-65, Fujimigaoka Meito-Ku, Nagoya-Aichi Ken – 4650048, Japan |
|
Date of Birth/Age : |
18.10.1962 |
|
Date of Appointment : |
21.05.2011 |
|
Din No : |
03155206 |
KEY EXECUTIVES
|
Name : |
Mr. Makrant |
|
Designation : |
Assistant Finance Manager |
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|
|
|
Name : |
Mr. Jitendra D Gandhi |
|
Designation : |
Company Secretary |
|
Address : |
A/3, Crystal Colony, M.M Chottani Road, Mahim (West), Mumbai- 400016,
Maharashtra, India |
|
Date of Birth/Age : |
26.08.1969 |
|
Date of Appointment : |
01.04.2007 |
|
Pan No: |
ACJPG3815C |
|
|
|
|
Name : |
Mr. Iwao Yamamoto |
|
Designation : |
Executive Advisor - Fan Unit |
|
Address : |
Mumbai, |
|
Date of Birth/Age : |
51 Years |
|
Qualification : |
Univ. Law Departments |
|
Experience : |
28 Years |
|
Date of Appointment : |
21.05.2010 |
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|
|
|
Name : |
Mr. Tetsuji Kawazu |
|
Designation : |
Business Unit Head – Fan |
|
Address : |
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|
Date of Birth/Age : |
52 Years |
|
Qualification : |
Univ. Mechanical Departments |
|
Experience : |
29 Years |
|
Date of Appointment : |
16.09.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 21.05.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Panasonic Electronic Works Company Limited, |
|
11854499 |
|
Panasonic Electric Works Company Limited, |
|
1 |
|
|
|
|
|
Total |
|
11854500 |
|
Name of
Shareholders (Preference Shares) |
|
No. of Shares |
|
Panasonic Electric Works Company Limited , |
|
425670000 |
|
|
|
|
|
Total |
|
425670000 |
Equity Share Break up (Percentage of Total Equity)
As on: 21.05.2011
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged mainly in the business of Manufacturing and
Selling electrical products comprising all types of Switches, Accessories,
Wire and Cables, Luminaries, Fans and Circuit Breakers. |
|
|
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity* |
Actual
Production** |
|
Electrical Goods |
Nos. |
-- |
-- |
357758769 |
Notes:
* Having regards to the large variety
of products, the company deals in, it is impracticable to compute the capacities.
** The company is engaged in the business of electrical goods comprising all types of switches, accessories, wires, cables, luminaries, fans, meters, and circuit breakers. Quantitative disclosures are made on a consolidated basis and include products of dissimilar units of measurement.
GENERAL INFORMATION
|
No. of Employees : |
2000 (Solo Employees) 10000 (Group Employees) (Approximately) |
|
|
|
|
Bankers : |
Bank of India, Malad (West) Branch, Bank of India Building, S.V Road, Malad
(West), Mumbai- 400064, Maharashtra, India |
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|
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|
Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, |
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Pan No : |
AABFS3421N |
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|
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|
Holding Company : |
Panasonic Electric Works Company Limited |
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|
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Fellow Subsidiaries : |
·
Panasonic Ecology Systems Company Limited ·
Panasonic Electric Works (Authaya) Company Limited
·
Panasonic Energy India Company Limited (L31400GJ1972PLC002091) ·
Panasonic Electric Works Denro Company Limited ·
Panasonic Electric Works Vossloh-Schwabe Gmbh ·
Panasonic Electric Works Sales ( ·
Panasonic India Private Limited (U51395TN2006PTC060554) ·
Panasonic Electric Works (Electrical Construction
Materials) Taiwan Company Limited ·
Panasonic Electric Works Information System
Company Limited |
|
|
|
|
Ultimate Holding
Company : |
Panasonic Corporation Limited |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000000 |
Equity Shares |
Rs.10/- each |
Rs.45000.000
Millions |
|
500000000 |
7% Non cumulative, non convertible Redeemable Preference Shares |
Rs.10/- each |
Rs.5000.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11854500 |
Equity Shares |
Rs.10/- each |
Rs.118.545 Millions |
|
425670000 |
7% Non cumulative, non convertible Redeemable Preference Shares |
Rs.10/- each |
Rs.4256.700
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4375.245 Millions |
Notes:
(A) 11,854,499 Equity shares
of Rs.10/- each are held by Panasonic Electric Works Company Limited.
Equity Shares of Rs.10/- each are allotted as fully paid up bonus shares by capitalisation of general reserves
(B) 11,854,499 equity shares
of Rs.10/- each are held by Panasonic Electric Works Company Limited.
Equity Shares of Rs.10/- each are allotted as fully paid up bonus shares by capitalisation of general reserves
(C) Preference shares are redeemable at par on or after July 23, 2010 i.e. on or after 39 months from the date of allotment
(D) Preference shares are redeemable at par on or after July 23, 2010 i.e. on or after 39 months from the date of allotment
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 |
4375.245 |
4375.245 |
4375.245 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4882.668 |
3931.998 |
2918.968 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9257.913 |
8307.243 |
7294.213 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9257.913 |
8307.243 |
7294.213 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2564.664 |
1795.885 |
1765.379 |
|
|
Capital work-in-progress |
568.194 |
392.641 |
259.749 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
|
|
|
DEFERREX TAX ASSETS |
0.048 |
0.048 |
0.049 |
|
|
|
142.900 |
86.714 |
43.900 |
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1945.825
|
1927.444
|
1440.744
|
|
|
Sundry Debtors |
3534.125
|
2383.589
|
2603.053
|
|
|
Cash & Bank Balances |
2117.777
|
3018.834
|
2423.247
|
|
|
Other Current Assets |
211.260
|
93.391
|
70.522
|
|
|
Loans & Advances |
956.060
|
1130.891
|
826.258
|
|
Total
Current Assets |
8765.047
|
8554.149 |
7363.824 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
782.804
|
773.014
|
446.772
|
|
|
Other Current Liabilities |
1433.302
|
1234.766
|
1123.899
|
|
|
Provisions |
566.834
|
514.414
|
568.017
|
|
Total
Current Liabilities |
2782.940
|
2522.194 |
2138.688 |
|
|
Net Current Assets |
5982.107
|
6031.955 |
5225.136 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9257.913 |
8307.243 |
7294.213 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10814.282 |
8630.452 |
8874.601 |
|
|
|
Other Income |
280.360 |
313.424 |
210.132 |
|
|
|
TOTAL (A) |
11094.642 |
8943.876 |
9084.733 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating and other expenses |
3338.993 |
2745.411 |
2328.434 |
|
|
|
|
5723.343 |
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
9062.336 |
7219.094 |
7804.342 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2032.306 |
1724.782 |
1280.391 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.756 |
18.126 |
26.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2011.550 |
1706.656 |
1253.661 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
456.915 |
368.583 |
290.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1554.635 |
1338.073 |
963.265 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
257.665 |
(22.415) |
(295.129) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1296.970 |
1360.488 |
1258.394 |
|
|
|
|
|
|
|
|
|
Less |
Prior period item/
Exceptional Item/ Impairment Loss |
NA |
NA |
237.852 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3882.495 |
2869.465 |
2197.533 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
297.969 |
297.969 |
297.970 |
|
|
|
Tax on Dividend |
48.331 |
49.489 |
50.640 |
|
|
BALANCE CARRIED
TO THE B/S |
4833.165 |
3882.495 |
2869.465 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
39.136 |
59.196 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
79.994 |
134.431 |
|
|
|
Capital Goods |
|
193.709 |
41.545 |
|
|
|
Others |
|
102.183 |
0.158 |
|
|
TOTAL IMPORTS |
NA |
375.886 |
176.134 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.96 |
85.46 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.69
|
15.21 |
13.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.38
|
15.50 |
10.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.14
|
0.13 |
10.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.16 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.30
|
0.30 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
3.39 |
3.44 |
LOCAL AGENCY FURTHER INFORMATION
sundry creditors details:-
(Rs.
In Millions)
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditor |
|
|
|
|
Creditor due to small micro enterprises |
102.901 |
67.781 |
53.067 |
|
Creditor due others |
679.903 |
705.233 |
393.705 |
|
|
|
|
|
|
Total |
782.804 |
773.014 |
446.772 |
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Note:
The Registered Office of the company has been shifted from Unit No.
101,Innova C, Marathon, Nextgen Ganpatrao Kakam Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India to the
present address.
NATURE OF OPERATIONS:
The Company was
incorporated in
PERFORMANCE:
The Company has during the year achieved net sales of Rs.10814.200 Millions against net sales of Rs.8630.400 Millions for the previous accounting year ended 31st March, 2010. The Company has reported a net profit of Rs.1296.900 Millions against a net profit of Rs.1360.400 Millions in the last year. The Company witnessed good growth in profit for the year on account of increase in business activity.
i) Wiring Devices Division:
During the year the Company continued to put efforts in improving
Product quality, Capacity Expansion by introducing new moulds, machines etc.
Transformation from line production method to CELL production method, helped
immensely to increase productivity. During the year the Company also acquired
ii) Cable and Wire Division:
The Company took all efforts during the financial year to
improve productivity and quality of the products. During the year, the company
tried to optimize the production facility to reduce the overall cost per coil
in case of wire and cables. The other highlights include, “CE” mark for
building wires, “IEC” mark for single and multi Exe products, safety mark “BOW”
for all products. A new PVC compound for class 5 was declared, which is ROHS
compliant and installed Sipcon Instrument to control PVC thickness as per BIS.
The drawing ides was changed to PCD (from Tungster Carbide) to improve finish
and control diameter more accurately.
iii) Lamps and Lighting Division:
CFL: During the year the Company acquired the Lighting
Business of Globus Lamps, Roorkee and have enter into MOU for disposing its Dharampur
factory. During the year under review In-house manufacturing of CFL increase
from 0.5 million pcs/month to 0.9 million pcs/month by adding in-house
manufactured sealing machine and exhaust machine. Manufacturing capacity
further increased from 0.9 million pcs to 1.35 Million pcs/month by acquiring
on-going Lighting business of Globus Lamps situated at Roorkee. Liquid Oxygen
tank installed at Kutch Factory to reduce the cost of Oxygen consumption. CFL
sales growth in 2010 was more than 150% as compared to last year. Manufacturing
capacity will further increase by new investment in CFL Spiral type chain. Due
to said investment the in-house manufacturing capacity will be close to 2
million pcs per month to achieve 10% market share in retrofit type CFL. FTL:
The Company discontinued to Manufacture FTL due to non-viability of business
however to cater the market requirement and reduce loss the Company started
outsourcing of FTL Fixtures: New Range of consumer luminaries launched under
“Ferris” range. Ballast, CFL and PCB assembly plant were renovated and
re-organised at
iv) Fan Division:
The Company continued to improve productivity in Machine Shop, Paint Shop thereby resulting in production. Product range was also expanded. The Company initiated cost reduction programs and also introduced better safety kits and equipments for workers. In parallel, the new manufacturing facility at Dhamdachi is being made ready to start commercial production by July, 2011.
v) MCB:
The Company penetrated into the market in this segment and continue to do the same in future thereby increase the sales. During the year the sale increased by 137% and this was achieved due to higher quantum and better mix of production and focussed effect by Sales. The Company is planning to launch the New Product in this segment, to target the projects business and specification.
Dematerialisation of
Preference Shares:
During the year 425,670,000 - Non-Cumulative Redeemable 7% Preference Shares held by Panasonic Electric Works Company Limited were dematerialized.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U31200MH2000PTC128292 |
|
Name of the company
|
ANCHOR ELECTRICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No.101, Innova C, Marathon Nextgen, Ganpatrao Kadam Marg, Lower
Parel (West), Mumbai-400013, E-mail: jgandhi@anchor-world.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Bank of Malad (West) Branch, Bank of India Building, S.V Road, Malad (West),
Mumbai- 400064, Maharashtra, India E-Mail : maladw.mumbainorth@bankofindia.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation cum
loan agreement ( Plant and machinery, stock and book debts) |
|
Date of
instrument Creating the charge |
19.12.2008 |
|
Amount secured by
the charge |
Rs.125.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of
commission as applicable from time to time Terms of Repayment On demand Margin 10 % in term deposit
for LC limit or as required by the bank from time to time Extent and Operation of the charge and
Others: Security in
favour of Bank as first charge for due payments of all monies including the
principal sums/interest / commission. Costs, charge and expenses and all
other money, whatsoever due owing and payable by the borrower to Bank under
or in respect of or in connection with or in anywise concerning or relating
to the said facilities agreed to be granted and /or granted by the Bank to
the borrower as aforesaid and also for due repayments of all present and
future continued in : (e) others.In debtebness and liabilities of the
borrower to the Bank of any kind in any manner whether solely or jointly
primary or collateral accrued or accruing with all relatives
interest/commission charges costs (between advocate and client) and expenses: Limit : 1) L/C
DP/Days 90 days Rs.100.000 millions; 2) Guarantee Rs.100.000 millions;
maximum 1 and 2 Rs.125.000 Millions |
|
Short particulars
of the property charged |
All tangible
movable machineries and plant both present and future wherever situated b)
All tangible movable properties and assets of whatsoever nature (both present
and future) at Bharuch, Vapi and Daman or wherever else c) All present and
future book debts, outstanding money receivable claims bills which are now
due and owing or which may any time hereafter during the continuance of this
security become due and owing to the borrower. |
Fixed assets
Tangible Assets:
- Building
- Plant and Machinery
- Office Equipment
- Electric and Fitting
- Motor Vehicles
Intangible Assets:
- Goodwill
- Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
---- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
No |
|
--LITIGATION |
YES/NO |
No |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
No |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
No |
|
--EXPORT ACTIVITIES |
YES/NO |
No |
|
--AFFILIATION |
YES/NO |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
66 |
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.