MIRA
INFORM REPORT
|
Report Date : |
25.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
L G ELECTRONICS
INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-27, Mohan
Co-Operative Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.01.1997 |
|
|
|
|
Com. Reg. No.: |
20-031138 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1131.290 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32107UP1997PTC031138 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEL03835G /
PNEL03836A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1745Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Colour Televisions, Flat Panel Display, Air
Conditioner, Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum
Cleaner, Optical Disk Drive, Audio and Digital Video Display Systems,
Monitors and GSM Mobiles. |
|
|
|
|
No. of Employees
: |
3000 (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 79000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of LG Korea; consumer durable giant, financial company
is performing good. Company seen to be fundamentally strong. Trade relations
are reported to be fair. Business is active. Payment are reported to be
regular and as per commitment. The company can be considered normal for business dealing at usual trade
terms and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Agency Name |
Rating |
|
CRISIL |
AA+ / Stable |
LOCATIONS
|
Registered
Office / Factory 1 : |
A-27, Mohan Co-Operative
Industrial Estate, Mathura Road, New Delhi – 110044, Delhi, India |
|
Tel. No.: |
91-120-2560900/940/2560960 |
|
Fax No.: |
91-120-2560918/2560921/2560926/2560198 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Corporate Office
/ Sales Service : |
Plot No.51, Surajpur Kasna Road, Greater Noida-201306, Uttar Pradesh, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Chang Sil Lee |
|
Designation : |
Director |
|
Address : |
14, Poorvi Marg, 2nd Floor, Vasant Vihar, New Delhi-110057,
India |
|
Date of Birth/Age : |
16.12.1964 |
|
Date of Appointment : |
19.03.2010 |
|
PAN No.: |
AFMPL2720D |
|
DIN No.: |
03031902 |
|
|
|
|
Name : |
Mr. Hyun Chul Moon |
|
Designation : |
Director |
|
Address : |
The Forest Rock Tower 102, Omaxe Sector 92, Noida Uttar Pradesh, India
|
|
Date of Birth/Age : |
04.06.1964 |
|
Date of Appointment : |
12.01.2011 |
|
Date of Cessation : |
21.12.2011 |
|
PAN No.: |
ATJPM4605K |
|
DIN No.: |
03031880 |
|
|
|
|
Name : |
Mr. Soonhwang Kwon |
|
Designation : |
Managing Director |
|
Address : |
601, Earth Court-1, Greater Noida, Gautam Budh Nagar, Uttar Pradesh,
India |
|
Date of Birth/Age : |
13.10.1954 |
|
Date of Appointment : |
01.01.2011 |
|
PAN No.: |
BXBPK0303B |
|
DIN No.: |
03389876 |
|
|
|
|
Name : |
Mr. Nakkil Sung |
|
Designation : |
Managing Director |
|
Address : |
702, Earth Court-1, Greater Noida, Gautam Budh Nagar, Uttar Pradesh,
India |
|
Date of Birth/Age : |
25.10.1958 |
|
Date of Appointment : |
01.01.2011 |
|
Date of Cessation : |
21.12.2011 |
|
PAN No.: |
BRPPS2047J |
|
DIN No.: |
03389881 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Kumar
Panda |
|
Designation : |
Company Sectary |
|
Address : |
B – 1, LG Housing
Society, Plot No. 3, Sector, Greater Noida, District – Gautam Budh Nagar, |
|
Date of Birth/Age : |
01.06. 1966 |
|
Qualification : |
B. Com, FCA |
|
Date of Appointment : |
21.01. 2002 |
|
PAN No.: |
AKAPP8069J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
LG Electronics
INC, |
113128726 |
|
Ashish Agrawal |
1 |
|
Vipin Gupta |
1 |
|
Yasho Vardhan
Verma |
1 |
|
Ajay Sood |
1 |
|
Kishor Kumar Kaul |
1 |
|
Vinod Kumar |
1 |
|
TOTAL
|
113128732 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader in Colour Televisions, Flat Panel Display, Air
Conditioner, Refrigerators, Microwave Ovens, Washing Machines, Compressors,
Vacuum Cleaner, Optical Disk Drive, Audio and Digital Video Display Systems,
Monitors and GSM Mobiles. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
3000 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deolitte Haskins and Sells Chartered
Accountants |
|
Address : |
7th Floor, Building No.10, Tower – B, Cyber City Complex,
DLF City, Phase-II, Gurgaon-122002, Haryana, India |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Holding Company : |
·
LG Electronics Inc., Korea |
|
|
|
|
Fellow subsidiaries and other companies which
does not exercise control or significant influence over the company: |
·
Arcelik -LG Klima San Ve Tic A.S ·
El-Daker For Import Export and Commercial
Agencies ·
Hitachi-LG Data Storage Inc. Korea, ·
Hitachi-LG Data Storage Inc. Japan ·
LG Alina Electronics Korea ·
LG Chem Limited Korea ·
LG CNS Inc. Korea ·
LG CNS India Private Limited ·
LG Display Company Limited ·
LG Display Taiwan Company Limited ·
LG Economic Research Institute ·
LG Electronics Shen Yang Inc. ·
LG Electronics (China) Company Limited, China ·
LG Electronics (Hangzhou) Recording Media Company
Limited ·
LG Electronics Hui Zhou Inc, ·
LG Electronics(Levant), Jordan ·
LG Electronics Thailand Company Limited Thailand ·
LG Electronics Africa Logistics Fze, ·
LG Electronics Alabama Inc. ·
LG Electronics Algeria S.A.R.L ·
LG Electronics Almaty Kazak Company Limited ·
LG Electronics Australia Pty. Limited, Australia ·
LG Electronics Canada Inc ·
LG Electronics Da Amazonia, Brasil ·
LG Electronics De Sao Paulo Ltda ·
LG Electronics Dubai FZE ·
LG Electronics Espana S.A. ·
LG Electronics France S.A.R.L ·
LG Electronics Gulf Fze, UAE. ·
LG Electronics Hellas S.A. ·
LG Electronics HK Limited, Hong Kong ·
LG Electronics Inc. ·
Chile Limited ·
LG Electronics Inc. Japan ·
LG Electronics (M) Sdn Bhd. ·
LG Electronics Mexico SA De CV, Mexico ·
LG Electronics Middle East Company Limited UAE ·
LG Electronics Morocco, Morocco ·
LG Electronics Nanjing Display Company Limited ·
LG Electronics Panama S.A. ·
LG Electronics Philippines Inc. Philippines ·
LG Electronics Portugal S.A. ·
LG Electronics Qin Huang Dao Company Limited ·
LG Electronics Ukraine. ·
LG Electronics S.A.(Pty) Limited, South Africa ·
LG Electronics Services Europe B.V, Netherlands ·
LG Electronics Singapore Pte Limited ·
LG Electronics Taiwan Taipeu Company Limited ·
LG Electronics Taizhou Refrigerator Company
Limited China ·
LG Electronics Tianjin Appliances Company China ·
LG Electronics USA Inc. ·
LG Electronics Vietnam Company Limited ·
LG Hausys Limited ·
LG Industrial Systems Company Limited ·
LG Innotek (Huizhou) Company Limited ·
LG Innotek Yantai Company Limited ·
LG Innotek Company Limited Korea ·
LG Innotek Indonesia ·
LG International Corp ·
LG International (HK) Limited ·
LG Management Development Institute Company Limited ·
LG Philips Shuguang Electronics Company Limited ·
LG International (Singapore) Pte Limited ·
LG Philips Display Devices ·
LG Polymer India Private Limited ·
LGEOT’s branch in Almaty Kazak. ·
LG Ericsson Company Limited ·
LG-Nortel Company Limited ·
LG-Shaker Company Limited ·
Nanjing LG Panda Appliances Company Limited,
China ·
Nanjing LG-Toutru Color Display System Company
Limited ·
P.T. LG Electronics Indonesia ·
Qingdao LG Inspur Digital Communication Company
Limited, Shanghai ·
LG Electronics Mlawa Sp ZOO. |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115000000 |
Equity Shares |
Rs.10/- each |
Rs. 1150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113128732 |
Equity Shares |
Rs.10/- each |
Rs. 1131.290
Millions |
|
|
|
|
|
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 |
1131.290 |
1131.290 |
1131.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18658.000 |
15681.000 |
12207.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19789.290 |
16812.290 |
13338.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
226.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
226.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
OTHER LIABILITIES |
(0.290) |
(0.290) |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19789.000 |
16812.000 |
13564.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6177.000 |
4953.000 |
4327.000 |
|
|
Capital work-in-progress |
359.000 |
181.000 |
120.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
543.000 |
687.000 |
729.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16450.000
|
15467.000
|
10780.000
|
|
|
Sundry Debtors |
5909.000
|
5214.000
|
5480.000
|
|
|
Cash & Bank Balances |
3692.000
|
5432.000
|
2939.000
|
|
|
Other Current Assets |
2045.000
|
2817.000
|
2465.000
|
|
|
Loans & Advances |
3176.000
|
1794.000
|
1778.000
|
|
Total
Current Assets |
31272.000
|
30724.000 |
23442.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14360.000
|
15604.000
|
13033.000 |
|
|
Other Current Liabilities |
2862.000
|
2762.000
|
1309.000
|
|
|
Provisions |
1340.000
|
1367.000
|
712.000
|
|
Total
Current Liabilities |
18562.000
|
19733.000 |
15054.000 |
|
|
Net Current Assets |
12710.000
|
10991.000
|
8388.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19789.000 |
16812.000 |
13564.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
106911.000 |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
118997.000 |
106911.000 |
86271.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
113230.000 |
100845.000 |
82144.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5767.000 |
6066.000 |
4127.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.000 |
8.000 |
103.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5763.000 |
6058.000 |
4024.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1579.000 |
1337.000 |
1275.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4184.000 |
4721.000 |
2749.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1207.000 |
1247.000 |
753.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2977.000 |
3474.000 |
1996.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14925.000 |
11451.000 |
9455.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17902.000 |
14925.000 |
11451.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
12060.000 |
15037.00 |
14626.000 |
|
|
|
Service Warranty Claims |
68.000 |
246.000 |
274.000 |
|
|
|
Reimbursement of Expense |
359.000 |
506.000 |
1774.000 |
|
|
|
Other Earnings |
4.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
12491.000 |
15789.000 |
16674.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
10272.000 |
8752.000 |
10290.000 |
|
|
|
Raw Materials |
41948.000 |
43367.000 |
28484.000 |
|
|
|
Service Spares |
447.000 |
635.000 |
476.000 |
|
|
|
Capital Goods |
1646.000 |
135.000 |
987.000 |
|
|
|
Consumable Store and Spares |
25.000 |
30.000 |
28.000 |
|
|
TOTAL IMPORTS |
54338.000 |
52919.000 |
40265.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.32 |
30.74 |
17.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.50
|
3.25 |
2.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.01
|
12.98 |
9.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.28 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.94
|
1.17 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.56 |
1.56 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
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 |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
NOTE
Registered office has been shifted from Plot No. 51 Uyog Vihar, Suraj Kasna Road, Greater
Noida-201306, Uttar Pradesh, India to the present address w.e.f. 30.05.2011.
BACKGROUND
Subject was
incorporated in India on January 20, 1997 to manufacture and trade in Colour
Televisions, Flat Panel Display, Air Conditioners, Refrigerators, Microwave
Ovens, Washing Machines, Compressors, Vacuum Cleaners, Optical Disk Drive,
Audio AD Digital Video Display Systems, Monitors and GSM Mobiles. The
manufacturing facilities of the company are situated at Greater Noida in Uttar
Pradesh and also in Ranjangaon near Pune in the State of Maharashtra. The
company is a closely held company with 113,128,726 shares held by LG
Electronics Inc., South Korea and the balance 6 shares held by its nominees.
FINANCE
The Company’s Bank
Loan rating under BASEL II was upgraded from AA/Stable to AA+/Stable under Long
Term and reaffirmed the Highest Rating of A1+ under Short Term. The company was
able to sustain its Surplus Cash levels during the year due to efficient
Working Capital Management and by adopting financial process Innovations and
Best Practices. The company has started settling payments by using the Host to
Host Banking Platform which has smoothened the payment process. The Company
strengthened its Supply Chain Financing support to Trade Partners. The company
was able to strengthen overall Cash Management System which has also resulted
in better fund utilization and Idle Fund reduction. IT DEVELOPMENT: During the
year the Company successfully migrated to an updated version of Global single
instance of Enterprise resource planning (GERP) covering entire Function like
Accounting , Finance, Logistics, Production , Procurement and Human resources .
This will help in optimizing the standard operating practices and adopting the
Global best practices.
PERFORMANCE REVIEW
In spite of
decreasing GDP growth and increasing inflation in the Economy, the Company
registered the growth of 11.3% in Turnover. The Profitability margin continued
to be under pressure on account of higher raw material prices
FUTURE OUT LOOK
The Company is
marching ahead strongly to further consolidate its presence in the Country and
explore new global market. The Company is confident to register impressive
growth in all parameters. The Strong Brand loyalty of customer will help
immensely to the Company.
PRODUCTION
FACILITIES
Greater Noida
Factory
In Refrigerator
Segment,
·
Nova Model launched in DC Premium category.
·
TLP (Truly Level Production) Mfg. capability
increased from 1.7 à 3.
·
R2 line tact time efficiency enhanced to 97%.
·
Highest ever monthly production of 3.7 lac units in
single month.
In Air-Conditioner
segment,
·
Introduced 5star (energy efficient) models in Window
& Split AC category.
·
Launch of Inverter product category in Split AC.
·
CAC line being modeled as flexible line, capable of
production of 2ton à 22ton
·
Productivity (UPPH) improvement by 44%, thru Line
Operation Balancing
In WMC Segment,
·
TLP (Truly Level Production) Mfg. capability
increased from 1.7 à 3.
·
WMC line UPH improved by 22% and Productivity
(UPPH) improved by 8% through Line Remodeling
·
MOT improvement through 3F drive (3F score improved
from 45 à 93).
·
Swadee Micom category launched in Semi Automatic
category.
·
Dual tone color line up added to TL category.
·
Fully Direct drive models launched in Front Load
category.
In TV division,
·
UPH improvement to 500 on C1 line thru Aging
process innovation and flow line, to become fastest line @ 7.2TT.
·
Launched slims CRT TV models with 500w Sound and
USB functionality.
·
Largest range of energy efficient, BEE star rated
models in Indian Market.
In Compressor
Segment,
·
Ever highest production in one month 5lac units.
·
UPH improved from 750 to 814, remarkable
improvement of 9%.
·
Idle time reduced from 2.3 à 1.1, 50% cut from last
year.
·
Capacity increased by 3 Million units with addition
of new 4.1sec line.
·
Reloading improved by 51% thru servo press and
valve plate improvement by ultra sound technology.
·
F. cost improved by 30% (0.20 à 0.14) thru LQC and
Co2 welding process improvement.
Pune Factory
In Air-Conditioner
segment,
·
Global No.1 Platform SB chassis launched from Pune
with matrix plus Energia A, Energia B looks ranging from 2 to 5 star rating.
·
New model SE - Kruse launched.
·
MF condenser implemented in 1 ton 5 star models.
In CTV division,
·
Strengthening Ultra slim line up with 2 premium
glossy models (21SA8, 21SA5 with swivel base)
·
Pin free CPT implementation in 21” US models – CI :
USD 1.5
·
USB feature development in 21” US CP-79B chassis.
·
Upgraded BEE Star rating of Slim models 3 à 4 star.
·
In-house software development for CTV.
In LCD TV segment,
·
Introduction of 3D in full LED category
·
Introduction of JAZZ series in LED (woofer in base
stand)
·
Development of low cost model (LD310)
·
Development of local PCB (25% contribution)
·
Local module development with Gradation Painting.
·
Cell line installation to increase capacity to
1.5M/Annum
In Monitor
segment,
·
Launched low power consumption LCD LED Monitor
models in 18.5” / 20”
·
Developed cost effective 20” Monitor cum TV.
·
Planning to launch 3D monitor.
·
Developing N+ series monitor, where in 30 monitor
can be used with a single PC and would work as an independent PC.
·
Developed monitors for Digital Signals (24 x 7 x
365) type application.
In Refrigerator
Segment,
·
Ivory Model range launched Dom Market: 5 Star+ LVS:
New Door; New Interiors. 215L/235L/270L.
·
350L refrigerator Launched with 5 Star + LVS.
·
240L/260L – Nimbus range swing production started
(Dom and Exp)
·
R600a – New refrigerant process facility
established.
Starion
EMS Started with
Swing production with Noida and Pune. Ivory (Running model at Pune), Nova (New
models from Noida) Production stared in Feb’11.
In GSM Segment,
·
Launching of Smart phones (Android OS, 3G models).
·
Launching of Wi-Fi models.
·
Launching of Dual SIM phones.
·
Quality lab setup (reliability check).
·
Local supply of Charger, Keypad started.
·
Additional line, Capacity improvement (400K à 900K)
In ODD Segment,
·
Introduction of Direct Soldering Operation (DSO) of
FFC with main PCB.
·
Highest Avg. Units/ Hr (UPH) in worldwide
subsidiaries producing H/H model.
·
Implemented new Line Testing Jigs without Pneumatic
and Electric power.
·
Vertical testing jigs implemented.
SALES AND
MARKETING
The company has
implemented lot of initiatives across sales and marketing during the year to
increase market share and build the brand as a Premium and Aspirational entity
in India.
The focus on FPD category
saw them launching World’s first Full LED LCD TVs – Infinia range – in India,
which was launched with a high decibel ad campaign on Indian Premier League
cricket broadcast. This was also supported with usage of a top movie star, in
above-the-line and below-the-line communication to consumers. Continuing our
focus on premium products, new models in appliance categories were successfully
launched with aggressive ad campaigns and in-store activation. These included
products like fully automatic front-loading washing machines with revolutionary
Direct Drive technology, side-by-side refrigerators and microwave ovens with
best-in-class Indian Auto cook menu function.
The march toward
becoming a more young and contemporary brand was continued with the launch in
first half of 2010 of Cookie Pep and Cookie Fresh range of mobile phone with
youthful brand ambassadors picked from the Hindi film industry. The flagship
Smartphone’s launch was accomplished in the second half of the year with
Optimus range of phones.
The company’s
exploitation of sports sponsorship was enhanced with continuation of the Lead
11 programme as a Global sponsor of ICC. This built them further as a brand
that enriches lives of the consumers at large. A focus on premium target
segment was achieved with a sponsorship of premier golf body PGTI.
The brand quotient
for innovation was given a thrust with a first ever Design Innovation contest,
LG Cubes 2010. Activated through online media, this brought in involvement from
thousands of design students and professionals from across more than 100 design
schools, and provided us with a talent pool to pick from in the future.
In the digital
medium, the company ventured into the domain of online reputation management
(ORM) to listen better to consumer conversations and develop better engagement
with them in the webspace. As part of this effort, your company started an
intensive social media programme using social networking web sites , and till
date have more than 350,000 loyal and happy followers.
Relationship
management with LG consumers took another step forward with the start of a
data-based approach to CRM. Using the vast after-sales service database, the
company started an exercise to segment consumers into various groups who would
be targeted with customized communication and offers to cross-sell and up-sell
LG products. This supplements the existing Life’s Good Club program which
expanded to more than 300,000 members who bought products from LG’s exclusive
brand shops.
The Company
continued its accelerated growth of exclusive retail outlets (Brand stores) to
continue capturing retail space in the market, reaching more than 1000 direct
brand shops and Preferred Trade Partners (PTP). This was supplemented with
marketing programmes at local level to generate footfalls for these LG stores
and increase in-store conversion of shoppers to buyers. The newly established
Retail Marketing department raised the standards of in-store display and
activation efforts through focused initiatives at corporate and branch level.
FORM 8
|
Corporate
identity number of the company |
U32107DL1997PTC220109 |
|
Name of the
company |
L G ELECTRONICS
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-27, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi – 110044, Delhi, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80028108 |
|
Type of charge |
·
Book debts ·
Others |
|
Particular of
charge holder |
HSBC Bank
Limited, 25 Birla House, Barakhamba Road, New Delhi-110001, India |
|
Nature of
instrument creating charge |
Hypothecation
Deed |
|
Date of
instrument Creating the charge |
30.05.2012 |
|
Amount secured by
the charge |
Rs. 1500.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest shall be
payable by the company on the banking facility as per banks tariff, subject however
the banks shall have the right to change the rate of interest after giving
notice to the company. Terms of repayment In Consideration
of Banking Facility Sanctioned /to be Sanctioned by The Bank of The Company ,The
Company Has Hypothecated and Charged The Bank By Way of First Pari Passu
Charge As a Continuing Security ,The Assets Mentioned In The Deed of
Hypothecation to Secure Repayment of The Advances With Interests Costs and
All Other Charges (As Per Schedule Part a of The Agreement) Margin The company shall
maintain such margin as may be specified by the bank from time to time (as
per schedule part a of the agreement) Extent and operation of the charge In Case The
Company Fails to Fulfill Its Obligation Under The Agreement , The Bank Shall
be Entitled to Take Possession of The Hypothecated Property and Sell Them by
Public Auction or Private Contract and Utilse The Proceeds Full/Part
Settlement of Its Claims (As Per Schedule
Part a of The Agreement) |
|
Short particulars
of the property charged (Including location of the property) |
First Pari Passu
Charge on All The Company's Stocks
-In Trade Both Present and Future
Including Stock of Raw Materials ,Work In Progress ,Spares and Stores And Finished Goods And All The
Company's |
|
Date of
instrument modifying the charge |
26.03.2007 |
|
Particulars of
the present modification |
The Credit Limit
Is Reduced From Rs 2700.000 Millions To 1500.000 Millions. |
FIXED ASSETS
·
Leasehold Land
·
Freehold Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Licenses and Software
·
IT 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 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. 56.01 |
|
|
1 |
Rs. 86.89 |
|
Euro |
1 |
Rs. 67.83 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.