MIRA
INFORM REPORT
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Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
130, Pandurang Budhkar Marg, Worli, Mumbai – 400 018, |
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Country : |
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Financials (as
on) : |
30.09.2012 |
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Date of
Incorporation : |
02.03.1957 |
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Com. Reg. No.: |
11-010839 |
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Capital
Investment / Paid-up Capital : |
Rs. 681.000 Millions |
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CIN No.: [Company Identification
No.] |
L28920MH1957PLC010839 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS44080B MUMS41513D NSKS06051D MUMS00310C |
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PAN No.: [Permanent Account No.] |
AAACS0764L |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Marketer of Switchgear Items. |
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No. of Employees
: |
14250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (78) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 2700000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Siemens Ag, The company can be considered good for normal 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 – June 30, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
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Source
: CIA |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
AAA (Long Term) |
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Rating Explanation |
Highest degree of safety and lowest credit risk. |
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Date |
25.07.2012 |
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Rating Agency Name |
CRISIL |
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Rating |
A1+ (Short Term) |
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Rating Explanation |
Very strong degree of safety and lowest credit risk. |
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Date |
25.07.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
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Registered Office : |
130, Pandurang
Budhkar Marg, Worli, Mumbai - 400 018, |
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Tel. No.: |
91-22–24987000/
01/ 02/ 24931349/ 50 |
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Fax No.: |
91-22–24987500/
52/ 24941758 |
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E-Mail : |
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Website : |
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Plant Locations : |
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Maharashtra |
1. E-76, Waluj, MIDC Area, Aurangabad – 431 136, Maharashtra, India 2. Plot No – A 1/2, Five Star MIDC, Shendra, Aurangabad – 431 201, Maharashtra, India 3. Plot No. C-1, Additional Industrial Area, MIDC, Ambad, Nashik - 422 010, Maharashtra, India 4. Thane - Belapur Road, Thane - 400 601, Maharashtra, India 5. Plot No. R-508 , TTC, Industrial Area, MIDC, Rabale, Thane- 400 701, Maharashtra, India 6. Thane-Belapur Road, Airoli,Navi Mumbai – 400 708, Maharashtra, India 7. Plot No. D-41/1, TTC Industrial Area, MIDC Turbhe, Opposite Turbhe MTNL Exchange, Navi-Mumbai- 400705, Maharashtra, India 8. 1 Kalwa Wks, Thane Road Digha, CBD Belapur, Navi Mumbai – 400708, Maharashtra, India |
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Goa |
L-6, Verna Industrial Area, Panjim-Margao Highway, Verna, Goa – 403 722, India |
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Gujarat |
1. R.S. No: 144, Maneja Village, Opposite Makarpura Railway Station, Vadodara – 390 013, Gujarat, India 2. 589 Sayajipura, Ajwa Road, Vadodara – 390 019, Gujarat, Gujarat, India 3. Plot B, Halol Phase – II, GIDC Industrial Estate, Village Chandrapura, Halol, District Panchmahal - 389 350, Gujarat, India |
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Andhra Pradesh |
Plot No. 89 and 90, IDA, Gandhinagar, Post Balanagar, Hyderabad – 500 037, Andhra Pradesh, India |
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Karnataka |
972, Devanahalli Road, Off Old Madras Road, Virgonagar Post, Bengaluru - 560 049, Karnataka, India |
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West Bengal |
Nimpura Industrial Growth Centre, PO: Rakhajungle, Paschim Midnapur, Kharagpur – 721 301, West Bengal, India |
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Puducherry |
1. MMG Manufacturing Group - Unit -I, R.S No 16/8, Kurumbapet Village, Villianur Commune - 605 009, Puducherry, India 2. MMG Manufacturing Group - Unit -II, R.S No 23/2A, Uruvaiyaru Road, Abishegapakkam – 605 007, Puducherry, India |
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Haryana |
Sector-18, Unit No. 37, Gurgaon – 122002, Haryana, India |
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Sales Offices : |
3rd Floor, Jyoti Mahal, No. 49, St. Marks Road, Bangalore – 560001, Karnataka, India |
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Tel. No.: |
91-80-22042000 |
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Fax No.: |
91-80-41120435 |
DIRECTORS
As on 31.03.2012
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Name : |
Mr. Deepak S. Parekh |
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Designation : |
Chairman |
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Date of Birth/Age : |
18.10.1944 |
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Qualification : |
B. Com, FCA (England and Wales) |
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Date of Appointment : |
07.11.2003 |
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Name : |
Mr. Darius C. Shroff |
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Designation : |
Director |
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Date of Birth/Age : |
08.08.1944 |
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Qualification : |
BA (Hons.), LL.B., Solicitor |
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Date of Appointment : |
20.02.1997 |
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Other Directorships
held in India |
1) Avi-Oil India Private Limited 2) Bayer Material Science Private Limited 3) CMP Private Limited 4) Ingersoll-Rand (India) Limited 5) GMM Pfaudler Limited 6) Kulkarni Power Tools Limited 7) Lubrizol India Private Limited 8) SKF India Limited 9) Unifrax India Limited 10) Unifrax India Energy Savings Materials Private Limited 11) Swiss Re Services India Private Limited 12) Warner Bros. Pictures (India) Private Limited |
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Name : |
Mr. Yezdi H. Malegam |
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Designation : |
Director |
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Date of Birth/Age : |
24.09.1933 |
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Qualification : |
CA |
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Date of Appointment : |
01.04.1998 |
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Name : |
Mr. Narendra J. Jhaveri |
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Designation : |
Director |
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Date of Birth/Age : |
09.08.1935 |
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Qualification : |
Masters Degree in Economics from Gujarat University M.Sc. in Economics from The London School of Economics |
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Date of Appointment : |
09.11.2000 |
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Other Directorships
held in India |
1) Afcons Infrastructure Limited 2) Pidilite Industries Limited 3) Hindalco Industries Limited 4) Edelweiss Financial Services Limited 5) Juniper Hotels Private Limited 6) Phoenix ARC Private Limited 7) Edelweiss Securities Limited 8) GVFL Limited |
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Name : |
Mr. Keki Dadiseth |
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Designation : |
Director |
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Date of Birth/Age : |
20.12.1945 |
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Qualification : |
B. Com., FCA (England and Wales) |
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Date of Appointment : |
27.01.2006 |
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Name : |
Mr. Pradip V. Nayak |
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Designation : |
Director |
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Date of Birth/Age : |
06.09.1943 |
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Qualification : |
Degree in Economics and Politics Read Law at Gray's Inn, London |
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Date of Appointment : |
27.01.2006 |
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Name : |
Mr. Joe Kaeser |
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Designation : |
Director |
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Date of Birth/Age : |
23.06.1957 |
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Qualification : |
Studied Business Administration Dipl.-Betriebswirt |
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Date of Appointment : |
01.10.2006 |
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Name : |
Dr. Roland Busch |
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Designation : |
Director |
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Name : |
Mr. Johannes Apitzsch |
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Designation : |
Alternate Director for Dr. Roland Busch |
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Name : |
Dr. Armin Bruck |
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Designation : |
Managing Director and Chief Executive Officer |
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Date of Birth/Age : |
06.02.1963 |
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Qualification : |
PhD in Operations Research Business Degree in Economics and Informatics |
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Date of Appointment : |
01.10.2007 |
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Other Directorships
held in India |
Siemens Technology and Services Private Limited |
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Name : |
Mr. Sunil D Mathur |
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Designation : |
Executive Director and Chief Financial Officer |
KEY EXECUTIVES
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Name : |
Mr. Ajai Jain |
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Designation : |
Vice president (Legal)
and Company Secretary |
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Committees of Directors |
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Audit Committee |
· Yezdi H. Malegam (Chairman) · Deepak S. Parekh · Keki B. Dadiseth ·
Joe Kaeser |
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Investors Grievance Committee |
· Darius C. Shroff (Chairman) · Pradip V. Nayak ·
Dr. Armin Bruck |
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Remuneration Committee |
· Narendra J. Jhaveri (Chairman) · Darius C. Shroff · Deepak S. Parekh ·
Pradip V. Nayak |
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Corporate
Governance Committee |
· Keki B. Dadiseth (Chairman) · Deepak S. Parekh · Yezdi H. Malegam · Darius C. Shroff · Joe Kaeser · Dr. Armin Bruck · Dr. Roland Busch / Johannes Apitzsch |
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Investment
Committee : |
· Deepak S. Parekh (Chairman) · Yezdi H. Malegam · Pradip V. Nayak · Joe Kaeser · Sunil D. Mathur · Keki B. Dadiseth · Dr. Roland Busch / Johannes Apitzsch |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
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A) Shareholding of Promoter and Promoter Group |
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263003236 |
74.71 |
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263003236 |
74.71 |
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Total shareholding of Promoter and Promoter Group (A) |
263003236 |
74.71 |
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(B) Public Shareholding |
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|
3568419 |
1.01 |
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|
485805 |
0.14 |
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|
1000 |
0.00 |
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25497525 |
7.24 |
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12140805 |
3.45 |
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41693554 |
11.84 |
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7820921 |
2.22 |
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|
36566930 |
10.39 |
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|
1721375 |
0.49 |
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|
1227117 |
0.35 |
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|
42901 |
0.01 |
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|
29250 |
0.01 |
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|
1154966 |
0.33 |
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|
47336343 |
13.45 |
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Total Public shareholding (B) |
89029897 |
25.29 |
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Total (A)+(B) |
352033133 |
100.00 |
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(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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0 |
0.00 |
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|
0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
352033133 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Marketer of Switchgear Items. |
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Products : |
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PRODUCTION STATUS [AS ON 30.09.2011]
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Switchgear items |
Nos. |
20179114 |
16888811 |
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Electric
motor/generators |
Nos. |
20023 |
23913 |
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Switchboards,
control boards and misc. Accessories |
Nos. [Boards] |
2900 |
2307 |
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X-ray equipment |
Nos. |
1283 |
1409 |
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Electro medical
equipment |
Nos. |
209 |
-- |
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Variable speed AC/DC derive systems, motor control modules and
programmable control systems |
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Modules and programmable control system |
|
6248 |
2315 |
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Instrument Transformers |
Nos. |
2426 |
2111 |
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Static Converter for railways |
Nos. |
610 |
246 |
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Audio frequency track circuit |
Nos. |
900 |
1000 |
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Interlocking relays |
Nos. |
250000 |
105105 |
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Auxiliary inverter for AR locomotive |
Nos. |
180 |
130 |
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Traction converter for diesel locomotive |
Nos. |
72 |
28 |
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Electrical control cabinet |
Nos. |
288 |
68 |
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Circuit breakers
above 1000 volts |
Nos. |
1800 |
1160 |
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Power
Transformers |
MVA |
15000 |
9345 |
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Single stage/
multi stage turbines |
MW |
120 |
73 |
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Traction
Converters for EMU |
Nos. |
180 |
-- |
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Auxiliary
Converters for EMU |
Nos. |
180 |
-- |
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High Frequency
Power Supply |
Nos. |
-- |
-- |
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Digital Axcel
Counter |
Nos. |
300 |
300 |
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Medium |
Nos. |
96 |
20 |
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Ring main unit |
Nos. |
1000 |
461 |
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Compact sub
station |
Nos. |
164 |
125 |
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Gas insulated
switchgear |
Nos. |
600 |
423 |
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Accessories |
Nos. |
23000 |
20319 |
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BMS panels |
Nos. |
2000 |
781 |
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Controllers |
Nos. |
8000 |
6810 |
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Fire detector |
Nos. |
15000 |
9833 |
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Power supply |
Nos. |
4800 |
4599 |
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Signet keypads
and accessories |
Nos. |
45000 |
42809 |
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Gears / gear
couplings / spares |
Nos. |
2500 |
2391 |
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Bogie frames and
parts there of |
Nos. |
525 |
13 |
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Chemical and immunochemical
reagent packs |
Nos. |
1403000 |
559847 |
GENERAL INFORMATION
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No. of Employees : |
14250 (Approximately) |
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Bankers : |
· Citibank N. A · Deutsche Bank AG · The Hongkong and Shanghai Banking Corporation Limited · Standard Chartered Bank · HDFC Bank Limited · ICICI Bank Limited ·
State Bank of India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bharat S. Raut
and Company Chartered Accountants |
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Cost Auditors : |
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Name : |
R. Nanabhoy and
Company Chartered
Accountants |
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Holding company : |
Siemens AG |
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Wholly owned
subsidiary of Siemens Limited (upto 9 May 2011) |
iMetrex Technologies Limited, (Ireland) |
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Wholly owned
subsidiary of iMetrex Technologies Limited (Ireland) (upto 9 May 2011) |
Europlex Technologies Limited, (United Kingdom) |
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Wholly owned
subsidiary of iMetrex Technologies Limited (Ireland) (upto 9 May 2011) |
Europlex Technologies (Ireland) Limited, (formerly known as Europlex Manufacturing Limited, (Ireland)) |
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Fellow Subsidiaries
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· Siemens Spa Algeria · Siemens S.A. Argentina · Siemens Limited. Australia · ETM professional control GmbH Austria · Siemens Aktiengesellschaft Österreich Austria · Siemens Transformers Austria GmbH and Co KG Austria · Siemens VAI Metals Technologies GmbH Austria · Trench Austria GmbH Austria · Siemens Gebäudemanagement and -Services G.m.b.H. Austria · Siemens W.L.L. Bahrain · Siemens Bangladesh Limited. Bangladesh · Siemens Healthcare Diagnostics SA Belgium · Siemens S.A./N.V. Belgium · Siemens Ltda. Brazil · Siemens EOOD Bulgaria · Siemens Hearing Instruments Inc. Canada · Trench Limited. Canada · Siemens Healthcare Diagnostics Manufacturing Limited, Cayman Islands · MWB (Shanghai) Company Limited, China · Siemens Electrical Apparatus Limited, China · Siemens Electrical Drives (Shanghai) Limited, China · Siemens Electrical Drives Limited, China · Siemens Factory Automation Engineering Limited, China · Siemens Healthcare Diagnostics (Shanghai) Company Limited, China · Siemens High Voltage Switchgear Company Limited, Shanghai China · Siemens International Trading Limited, Shanghai China · Siemens Limited, China China · Siemens Mechanical Drive Systems (Tianjin) Company Limited, China · Siemens Power Automation Limited. China · Siemens Shanghai Medical Equipment Limited, China · Siemens Shenzhen Magnetic Resonance Limited, China · Siemens Switchgear Company Limited China · Siemens Transformer (Guangzhou) Company Limited China · Siemens Transformer (Wuhan) Company Limited China · Siemens VAI Metals Technologies Company Limited, Shanghai China · Siemens Water Technologies Limited. China · Siemens Wiring Accessories Shandong Limited, China · Siemens X-Ray Vacuum Technology Limited, China · Trench High Voltage Products Limited, Shenyang China · Siemens Numerical Control Limited, China · Siemens Power Plant Automation Limited, China · Siemens Wind Power Blades (Shanghai) Company Limited, China · Siemens Circuit Protection Systems Limited, China · Siemens Medium Voltage Switching Technologies (Wuxi) Limited, China · Siemens S.A. Columbia · Koncar Power Transformers Limited, Croatia · Siemens, s.r.o. Czech Republic · Siemens Electric Machines s.r.o. Czech Republic · Siemens, s.r.o., odstepny zavod Industrial Turbomachinery Czech Republic · Siemens A/S Denmark · Siemens Wind Power A/S Denmark · Siemens S.A. Ecuador · Siemens Technologies S.A.E. Egypt · Siemens Osakeyhtiö Finnland · FLENDER-GRAFFENSTADEN SAS France · Siemens S.A.S. France · Siemens Transmission and Distribution SAS France · Siemens VAI Metals Technologies SAS France · Trench France S.A.S. France · Siemens SAS, Division Production Sensors and Communication, Usine de Haguenau France · Alpha Verteilertechnik GmbH Germany · evosoft GmbH Germany · LINCAS Export Services GmbH Germany · Siemens Bank GmbH Germany · Siemens Healthcare Diagnostics Holding GmbH Germany · Siemens Healthcare Diagnostics Products GmbH Germany · Trench Germany GmbH Germany · HSP Hochspannungsgeräte GmbH Germany · Siemens Beteiligungen Inland GmbH Germany · Loher GmbH Germany · Siemens Geared Motors GmbH Germany · Siemens Industrial Turbomachinery GmbH Germany · Siemens Industriegetriebe GmbH Germany · Siemens IT Solutions and Services GmbH Germany · Siemens Turbomachinery Equipment Germany · Siemens VAI Metals Technologies GmbH Germany · TLT-Turbo GmbH Germany · SYKATEC Systeme, Komponenten, Anwendungstechnologie GmbH Germany · Weiss Spindeltechnologie GmbH Germany · Electrium Sales Limited, Great Britain · Siemens Healthcare Diagnostics Manufacturing Limited, Great Britain · Siemens Healthcare Diagnostics Products Limited, Great Britain · Siemens Industrial Turbomachinery Limited, Great Britain · Siemens plc Great Britain · Siemens plc, Industry Sector, Metals Technologies Great Britain · Siemens Protection Devices Limited, Great Britain · Siemens Transmission and Distribution Limited, Great Britain · Siemens VAI Metals Technologies Limited, Great Britain · Siemens Magnet Technology Great Britain · Siemens Healthcare Diagnostics Limited, Hongkong · Siemens Limited Hongkong · eMeter India Private Limited, India · OSRAM Automotive Lamps Private Limited (erstwhile Compact Automative Lamp Private Limited) India · OSRAM India Private Limited India · PETNET Radiopharmaceutical Solutions Private Limited India · Powerplant Performance Improvement Limited India · Siemens Hearing Instruments Private Limited India · Siemens IT Solutions and Services (upto 1 July 2011) India · Siemens Power Engineering Private Limited India · Siemens Technology and Services Private Limited (STS) (erstwhile SISL) India · Siemens Corporate Finance Private Limited (merged with STS w.e.f.1 October 2011) India · Siemens Information Processing Services Private Limited (merged with STS w.e.f. 1 October 2011) India · Winergy Drive Systems India Private Limited India · Siemens Financial Services Private Limited India · Siemens Industry Software (India) Private Limited India · P.T. Siemens Indonesia Indonesia · PT. Siemens Industrial Power Indonesia · Europlex Technologies (Ireland) Limited Ireland · Siemens Medical Solutions Diagnostics Europe Limited Ireland · Siemens Concentrated Solar Power Limited Israel · Siemens Israel Limited Israel · Siemens S.p.A. Italy · Siemens VAI Metals Technologies S.r.l. Italy · Trench Italia S.r.l. Italy · Siemens Japan K.K. Japan · Siemens TOO Kazakhstan · Siemens Kenya Limited Kenya · Siemens Limited. Seoul Korea · Siemens Electrical and Electronic Services K.S.C.C. Kuwait · Siemens Malaysia Sdn. Bhd. Malaysia · Siemens, S.A. de C.V. Mexico · Siemens Plant Operations Tahaddart Morocco · Siemens Nederland N.V. Netherland · Siemens (N.Z.) Limited New Zealand · Siemens Limited Nigeria · Siemens AS Norway · Siemens L.L.C. Oman · Siemens S.A.C. Peru · Siemens, Inc. Philippines · Siemens Sp. z o.o. Poland · TurboCare Sp. z o.o. Poland · Siemens S.A. Portugal · Siemens W.L.L. Qatar · Siemens S.R.L. Romania · OOO Siemens Russian Federation · Arabia Electric Limited (Equipment) Saudi-Arabia · Siemens Limited Saudi-Arabia · Siemens Pte. Limited Singapore · Siemens Healthcare Diagnostics Pte. Limited. Singapore · Siemens IT Solutions and Services Operations Pte. Limited. Singapore · Siemens s.r.o. Slovakia · Siemens d.o.o. Slovenia · Siemens Limited South Africa · Siemens S.A. Spain · Siemens AB Sweden · Siemens Industrial Turbomachinery AB Sweden · Siemens, Security Products Sweden · Siemens Schweiz AG Switzerland · Siemens Schweiz AG, Building Technologies Division, · International Headquarters · Switzerland · Siemens Limited Taiwan · Siemens Tanzania Limited Tanzania · Siemens Limited Thailand · Siemens IT Solutions and Services Limited Thailand · Siemens S.A. Tunisia · Siemens Sanayi ve Ticaret A.S. Turkey · DP Siemens Ukraine Ukraine · SD (Middle East) LLC United Arab Emirates · Siemens LLC United Arab Emirates · S' Industry - WT USA · Siemens Demag Delaval Turbomachinery, Inc. USA · Siemens Energy, Inc. USA · Siemens Energy, Inc. (US) – Oil and Gas (PT2) USA · Siemens Energy, Inc. (US) - Transmission (PPR) USA · Siemens Healthcare Diagnostics Inc. USA · Siemens Industry, Inc. USA · Siemens Medical Solutions USA, Inc. USA · SMS Inc. - Customer Solutions Group USA · Siemens Corporation USA · Siemens S.A. Venezuela · Siemens Limited Vietnam |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs.2/- each |
Rs.2000.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
341159165 |
Equity Shares |
Rs.2/- each |
Rs.682.000 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340295025 |
Equity Shares |
Rs.2/- each |
Rs.681.000 Millions |
|
|
|
|
|
Shares held by
Holding Company and subsidiary of Holding Company:
251,265,128 Equity Shares of Rs.2 each, fully paid-up, are held by the Holding Company, Siemens AG, Germany;
Nil Equity Shares of Rs.2 each, fully paid-up, are held by Siemens Diagnostics Holding II B.V., Netherlands, a 100% subsidiary of Siemens AG, Germany.
Reconciliation of the
number of shares outstanding at the beginning and at the end of the year:
|
Particular |
Number |
Amount In Millions |
|
Shares outstanding at the beginning of the year |
340,294,900 |
681.000 |
|
Shares issued/subscribed during the year |
125 |
* |
|
Shares outstanding at the end of the Year |
340,295,025 |
681.000 |
The paid up share capital of the Company increased consequent to the allotment of 125 equity shares to a member upon settlement of a disputed case.
* Denotes figures less than a million
Details of shareholders holding more
than 5% shares in the company as on 30 September:
|
Name of shareholder |
No. of shares held |
% of Holding |
|
Siemens Aktiengesellschaft, Germany and its subsidiary. |
251,265,128 |
73.84% |
|
Life Insurance Corporation of India |
17,067,385 |
5.02% |
As per of the company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
Details of aggregate number
of shares issued for consideration other than cash and bonus shares issued
during the period of five years immediately preceding 30 September:
|
Equity shares
alloted as |
31.03.2012 |
|
Fully paid up to the shareholders of Siemens Healthcare Diagnostics Limited In accordance with the scheme of amalgamation |
3,134,700 |
|
Fully paid up by way of bonus shares |
168,580,100 |
Terms/rights attached
to equity shares
The company has only one class of equity shares having a par value of Rs.2 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees.
During the year ended 30 September 2012, the amount of per share dividend recognised for distribution to equity shareholders was Rs.6
In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts (if any). The distribution will be in proportion to the number of equity shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2012 |
30.09.2011 |
30.09.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
681.000 |
681.000 |
674.320 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
38922.000 |
37481.000 |
34103.468 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
5] Share capital suspense account |
23.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39626.000 |
38162.000 |
34777.788 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
2.410 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
2.410 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39626.000 |
38162.000 |
34780.198 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
14122.000 |
11291.000 |
7339.937 |
|
|
Capital work-in-progress |
850.000 |
2195.000 |
2465.158 |
|
|
|
|
|
|
|
|
INVESTMENT |
410.000 |
405.000 |
3884.606 |
|
|
DEFERREX TAX ASSETS |
3176.000 |
1889.000 |
1313.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9431.000
|
8078.000 |
15335.216
|
|
|
Sundry Debtors |
39124.000
|
36288.000 |
33023.441
|
|
|
Cash & Bank Balances |
9768.000
|
12750.000 |
18534.430
|
|
|
Other Current Assets |
10762.000
|
9658.000 |
0.000
|
|
|
Other Non-Current Assets |
7773.000
|
5471.000 |
0.000 |
|
|
Loans & Advances |
11031.000
|
13708.000 |
12448.994
|
|
Total
Current Assets |
87889.000
|
85953.000 |
79342.081 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26542.000
|
22573.000 |
29188.600
|
|
|
Other Current Liabilities |
23127.000
|
22959.000 |
14703.662
|
|
|
Provisions |
17152.000
|
18039.000 |
15672.322
|
|
Total
Current Liabilities |
66821.000
|
63571.000 |
59564.584 |
|
|
Net Current Assets |
21068.000
|
22382.000 |
19777.497
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39626.000 |
38162.000 |
34780.198 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2012 |
30.09.2011 |
30.09.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
129199.000 |
120289.000 |
92706.690 |
|
|
|
Commission Income |
0.000 |
0.000 |
445.715 |
|
|
|
Interest Income |
0.000 |
0.000 |
776.085 |
|
|
|
Other Operating Income |
0.000 |
0.000 |
848.315 |
|
|
|
Other Income |
575.000 |
1047.000 |
0.000 |
|
|
|
TOTAL (A) |
129774.000 |
121336.000 |
94776.805 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw materials consumed |
25984.000 |
20965.000 |
|
|
|
|
Purchase of traded goods |
24398.000 |
23612.000 |
|
|
|
|
(Increase) / decrease in inventories of finished goods, work-in-progress and traded goods |
(1014.000) |
(823.000) |
|
|
|
|
Project bought outs and other direct costs |
49110.000 |
46046.000 |
81068.654 |
|
|
|
Employee benefits expense |
11959.000 |
9174.000 |
|
|
|
|
Other expenses |
9849.000 |
7964.000 |
|
|
|
|
Exceptional item |
1200.000 |
0.000 |
|
|
|
|
Prior period items |
799.000 |
0.000 |
|
|
|
|
TOTAL (B) |
122285.000 |
106938.000 |
81068.654 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7489.000 |
14398.000 |
13708.151 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
270.000 |
127.000 |
105.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7219.000 |
14271.000 |
13602.275 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2010.000 |
1522.000 |
1014.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5209.000 |
12749.000 |
12587.479 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1777.000 |
4295.000 |
4315.364 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3432.000 |
8454.000 |
8272.115 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4771.000 |
0.000 |
745.688 |
|
|
|
|
|
|
|
|
|
|
Balance of Profit and Loss account brought forward due to
the amalgamation of Companies |
705.000 |
(110.000) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
343.000 |
1200.000 |
7052.012 |
|
|
|
Dividend |
2112.000 |
2042.000 |
1685.801 |
|
|
|
Tax on Dividend |
343.000 |
331.000 |
279.990 |
|
|
BALANCE CARRIED
TO THE B/S |
6110.000 |
4771.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods Direct on FOB basis |
3283.000 |
3733.000 |
1996.012 |
|
|
|
Project Business (Based on Actual Billing) |
14067.000 |
21647.000 |
13458.842 |
|
|
|
Commission |
326.000 |
483.000 |
445.715 |
|
|
|
Service charges and others |
1141.000 |
471.000 |
116.336 |
|
|
TOTAL EARNINGS |
18817.000 |
26334.000 |
16016.905 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials, components, spare parts and traded goods |
39859.000 |
34870.000 |
33960.321 |
|
|
|
Capital Goods |
1031.000 |
927.000 |
888.961 |
|
|
TOTAL IMPORTS |
40890.000 |
35797.000 |
34849.282 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.75 |
24.95 |
24.53 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2012 |
30.09.2011 |
30.09.2010 |
|
PAT / Total Income |
(%) |
2.64
|
6.97 |
8.73
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.03
|
10.60 |
13.58
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.11
|
13.11 |
14.30
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.33 |
0.36
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.69
|
1.67 |
1.71
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.35 |
1.33
|
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) |
No |
|
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 |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS
The Turnover of the Company increased by approximately 7% and stood at Rs.129199.000 millions as compared to Rs.120289.000 millions in the previous year. The Company’s Profit from Operations for the year ended 30th September, 2012 was Rs.6903.000 millions as compared to Rs.11829.000 millions in the corresponding period of the previous year.
The Profit after Tax was Rs.3432.000 millions, compared to Rs.8454.000 millions during 2010-11.
AMALGAMATIONS
a. Amalgamation of
Siemens VAI Metals Technologies Private Limited (SVAI) and Morgan Construction
Company India Private Limited.
The Hon’ble High Court of Bombay vide its order dated 17th August, 2012 sanctioned the ‘Scheme of Amalgamation’ of SVAI and Morgan with the Company. Key details of the said amalgamation are summarised as follows:
|
Appointed Date |
1st October, 2011 |
|
Effective Date |
1st October, 2012 |
|
Share Exchange Ratio |
1318 Equity Shares of Rs.2 of the Company for every 100 Equity Shares of Rs.100 each of SVAI |
|
Equity Shares issued |
11,738,108 to Siemens VAI Metals Technologies GmbH |
|
Date of Allotment of new shares |
13th October, 2012 |
The aforesaid 11,738,108 Equity shares were not allotted by 30th September, 2012, therefore an amount of Rs.23.000 milions is shown in Share Capital Suspense Account in the Balance Sheet. The new equity shares rank pari pasu with the existing equity shares of the Company and shall be entitled for full amount of dividend for the year ended 30th September, 2012, if declared by the Members at the forthcoming Annual General Meeting. The said equity shares have been listed on BSE Limited and National Stock Exchange of India Limited.
b. Amalgamation of
Siemens Power Engineering Private Limited (SPEL)
At the meeting held on 31st January, 2012 the Board of Directors approved the proposal for the amalgamation of SPEL (a 100% Siemens AG Company) with the Company. The “Appointed Date” was fixed as 1st October, 2011. The Board has recommended a share exchange ratio of 6 (Six) equity shares of the Company having Face Value of Rs.2 (Rupees Two) each fully paid- up for every 13 (Thirteen) equity shares of SPEL having Face Value of Rs.10 (Rupees Ten) each fully paid-up. The amalgamation was approved by the Members in the Court Convened Meeting held on 11th April, 2012. The High Court of Bombay vide its order dated 2nd November, 2012 approved the amalgamation however the order from the High Court of Punjab and Haryana is still awaited.
SPEL is engaged in providing technical services relating mainly to power plant business.
c. Amalgamation of
Winergy Drive Systems India Private Limited (Winergy)
At the meeting held on 10th August, 2012, the Board of Directors approved the proposal for the amalgamation of Winergy (a 100% Siemens AG Company) with the Company. The “Appointed Date” was fixed as 1st October, 2012. The Board has recommended a share exchange ratio of 1 (One) equity share of the Company having Face Value of Rs.2 (Rupees Two) each fully paid- up for every 72 (Seventy Two) equity shares of Winergy having Face Value of Rs.10 (Rupees Ten) each fully paid-up. The amalgamation is subject to all necessary statutory / regulatory approvals, including approvals of the Members and the High Courts.
Winergy is engaged in business of manufacturing / assembly of wind mill gearboxes, high speed gearboxes, drive application gearboxes, standard geared motors and in designing and engineering services.
MANAGEMENT’S
DISCUSSION AND ANALYSIS
GENERAL PERFORMANCE
REVIEW
The slowdown in India’s domestic economy that began in the previous year extended into financial year 2011-12. While the cumulative growth rate of index of industrial production (IIP) fell to 0.52% in financial year 2011-12 from 6.67% in financial year 2010-11, GDP growth remained stagnant at 6.5% as of September 30, 2012 compared with 7.5% as of September 30, 2011.
According to the Centre for Monitoring Indian Economy (CMIE), new investment announcements for the quarter ended September 30, 2012 were at Rs.584940.000 Millions, the lowest in 33 quarters. Though the CMIE expects new investment announcements to pick up in the coming quarters, it may not reach the levels seen two to three years ago because many large industries already have huge capacity expansions in the pipeline.
Investor and business confidence was low due to the prolonged global economic crisis as well as the government’s inability to gain consensus from coalition partners, which delayed legislation on various fiscal and market reforms. Delays in decision-making led to stalled infrastructure projects and issues related to environmental clearances, land acquisition, and the supply of fuel and raw materials, and the Reserve Bank of India’s continued focus on reducing inflation at the cost of economic growth affected investments in new projects. As with most other industries in India, subject Businesses across its four Sectors were impacted due to these factors.
New orders fell to Rs.102351.000 Millions in financial year 2011-12, down by 17% from Rs.122887.000 Millions in financial year 2010-11. Sales were up by 8% to Rs.127081.000 Millions, compared with Rs.118183.000 Millions in financial year 2010-11, while profits after taxes (PAT) were down by 59% at Rs.3432.000 Millions compared with Rs.8454.000 Millions in financial year 2010-11.
During the fourth quarter of the financial year 2011-12, the Company reviewed the plans for the wind energy business and its localisation activities. Wind energy solutions will be developed on a case-to-case basis for the Indian market by leveraging existing global Siemens AG manufacturing capacities. Hence, an exceptional item for an impairment estimated at Rs 1200.000 Millions was booked in the fourth quarter.
OUTLOOK FOR SUBJECT
Modern and future-ready infrastructure has been recognized as a key driver of India’s economic growth. Subject is present in all the areas that contribute to infrastructure. The Company has solutions for the entire energy matrix (generation, transmission, and distribution), intra-city and inter-city mobility, industrial plants, green buildings, and hospitals. In addition, the Company’s focus on localization has helped to position itself as a technology provider of choice for building India’s infrastructure. The Company also has the added advantage of bundling the financing solutions offered by Siemens Financial Services Private Limited. (SFSPL), a nonbanking finance company and a wholly-owned subsidiary of Siemens AG. SFSPL’s offerings such as loans, leasing, and other financial products are used to finance equipment purchases by customers of subject.
The government’s recently-announced measures to allow higher foreign direct investments in sectors such as aviation, multi-brand retail, insurance, and media have sent encouraging signals. The founding of the National Investment Board is also a positive sign.
In light of the above developments, the company expects profitable and sustainable growth in the future.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
30.09.2012 |
30.09.2011 |
|
Income tax (excluding interest) |
159 |
158 |
|
Excise / sales tax liabilities, under dispute |
1,804 |
958 |
|
Customs liabilities, under dispute |
120 |
120 |
|
Claims against the company not acknowledged as debts |
149 |
143 |
FIXED ASSETS:
Intangible Assets:
·
Goodwill
·
Technical Know-how
Tangible Assets:
·
Land
·
Building
·
Plant and Machinery
·
Furniture Fittings and
Office Equipments
·
Vehicles
AS PER WEBSITE
PROFILE
The Siemens Group in India has emerged as a leading inventor, innovator and implementer of leading-edge technology enabled solutions operating in the core business segments of Industry, Energy, Healthcare and Infrastructure and Cities. The Group’s business is represented by various companies that span across these various segments.
Siemens brings to India state-of-the-art technology that adds value to customers through a combination of multiple high-end technologies for complete solutions. The Group has the competence and capability to integrate all products, systems and services. It caters to Industry needs across market segments by undertaking complete projects such as Hospitals, Airports and Industrial units.
The Siemens Group in India comprises of 17 companies, providing direct employment to over 18,000 persons. Currently, the group has 21 manufacturing plants, a wide network of Sales and Service offices across the country as well as over 500 channel partners.
Today, Siemens, with its world-class solutions plays a key role in India’s quest for developing modern infrastructure.
PRESS RELEASE
SIEMENS LIMITED
ANNOUNCES Q1 2013 RESULTS; PROFIT AFTER TAX UP BY 21%
Mumbai, 2013-Jan-31
For the first quarter of Financial Year 2013 ended December 31, 2012, Siemens Limited registered Profit after Tax (PAT) of Rs.730.700 Millions, up by 21% over PAT of Rs. 602.000 Millions in Q1 2012.
Sales for Q1 2013 was flat at Rs. 24509.000 Millions against Rs.24709.000 Millions for Q1 2012, while New Orders for the quarter were Rs.19935.000 Millions, down by 31% over the same period last year.
Dr. Armin Bruck, Managing Director, Siemens Limited said, “Given the continuing difficult macro-economic conditions in India, our first quarter results show a solid performance, with steady sales and good improvement in the bottom line. Nevertheless, customer liquidity issues, delays in infrastructure projects commencement and the decline in our order books remain an area of concern to us.”
The Company completed the amalgamation of Siemens Power Engineering Private Limited a 100% subsidiary of Siemens AG, during the quarter.
SIEMENS LIMITED
RESULTS FOR FY 2012 IMPACTED BY SLOWDOWN IN THE ECONOMY
Mumbai, 2012-Nov-23
Siemens Limited declared its results for the financial year 2012 today. The Company registered Sales of Rs. 127081.000 Millions, a rise of 8% over Sales of Rs.118183.000 Millions in FY 2011. Profit before Tax, before exceptional items and prior-period items, were down by 43% compared to the preceding year.
For the fourth quarter ended September 30, 2012, Siemens Limited registered Sales of Rs.32694.000 Millions, down by 6% over the same period last year, while recording a profit of Rs.496.000 Millions before tax and before exceptional and prior-period items of Rs.1208.000 Millions.
During the quarter, the Company reviewed the plans for the wind energy business and its localization activities. Wind energy solutions will be developed on a case-to-case basis for the Indian market by leveraging existing global Siemens AG manufacturing capacities. Hence, an exceptional item for an impairment estimated at Rs.1200.000 Millions was booked in the quarter.
Dr. Armin Bruck, Managing Director, Siemens Limited, said, "Our overall results reflect the slowdown in the Indian economy. Higher project costs and unbooked profits due to customers delaying offtake partly affected the company’s profitability. The performance is below our own expectations. An improvement in the economy aided by quicker government approvals for infrastructure projects in sectors such as power and railways would positively impact our outlook."
In spite of the reduced profitability and considering the exceptional items debited during the year, the Board of Directors of the Company has approved a dividend of 300% (Rs. 6/- per share), which amounts to a payout of 45% before exceptional items for the financial year ended September 30, 2012.
About Siemens Limited:
Siemens Limited, in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India including Siemens Limited comprises 12 legal entities, is a leading powerhouse in electronics and electrical engineering with a business volume aggregating about Rs.120000.000 Millions. It operates in the core business areas of Industry, Infrastructure and Cities, Energy and Healthcare. It has a nation-wide sales and service network, 23 manufacturing plants and employs about 19,000 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 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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
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 |
9 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
78 |
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.