MIRA
INFORM REPORT
|
Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
JOHNSON LIFTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
R B C, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.04.1981 |
|
|
|
|
Com. Reg. No.: |
18-008718 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27209TN1981PTC008718 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEJ03285C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ0838Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Supply, Erection and Servicing of Elevators
(Lifts) for Passenger, Goods and Bed Lifts and Components. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 9920000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established and reputed company having good track record.
Financial position of the company appears to be strong. Performance
capability seems to be high. Liquidity position of the company appears to be good. Trade relations
are reported to be fair. Business is active. Payments are reported to be
regular and as per commitments. The company can be considered 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
|
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 |
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.
|
Source
: CIA |
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
|
Registered / Head Office : |
R B C, |
|
Tel. No.: |
91-44-26152200/ 01/ 02/ 03/ 04/
05 |
|
Fax No.: |
91-44-26151614 |
|
E-mail: |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Located at Chennai, Tamilnadu, India |
|
Tel. No.: |
91-44-26490444 / 26490980 |
|
Fax No.: |
91-44-26272026 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Located at Nagpur, Maharashtra, India |
|
Tel. No.: |
91-710-4326971 |
|
Fax No.: |
91-710-4265277 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Located at Chennai (Escalater), Tamilnadu, India |
|
Tel. No.: |
91-44-37183771/ 74 |
|
Fax No.: |
91-44-37183770 |
|
E-Mail : |
|
|
|
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|
Plant Locations: |
· 17, By-pass Road, Sennirkuppam Village, Poonamallee – 600056, Tamil Nadu, India Tel. No.:91-44-62549514
· 31-A, 6 and 7, SIDCO Industrial Estate, Chennai-600098, Tamilnadu, India Tel. No.: 91-44-6257717
·
P-307, SIDCO Estate, Chennai-600098,
Tamilnadu, India Tel. No.: 91-44-625 8763
·
1-16, Vyasarpadi Industrial Estate,
Chennai-600039, Tamilnadu, India Tel. No.: 91-44-537 7895
·
Plot 24, Industrial Estate, Vyasarpadi,
Chennai-600039, Tamilnadu, India |
|
|
|
|
Sales and Service Centers : |
Located At :
· Chennai ·
· Trichy ·
·
· Gurgaon · Noida ·
·
· Jaipur · Mumbai Goregaon · Mumbai Mahpe · Pune ·
·
· Ahmedabad · Kolkata · Bhuvaneswar · Bengaluru · Mangalore ·
·
·
· Vishakapatnam · Tirupathi ·
·
· Callcut ·
·
·
·
·
·
·
·
· Vadodara ·
· Bangladeh · Sri Lanka |
DIRECTORS
AS ON 24.05.2012
|
Name : |
Mr. John Kongalath John |
||||||||||||||||||||||||
|
Designation : |
Chairman Cum Managing Director |
||||||||||||||||||||||||
|
Address : |
1643, 13th Main Road, Anna Nagar, Chennai-600040,
Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
23.09.1952 |
||||||||||||||||||||||||
|
Date of Appointment : |
15.04.1981 |
||||||||||||||||||||||||
|
PAN No.: |
ACYPJ1987F |
||||||||||||||||||||||||
|
Din No.: |
00035823 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. Valliakandathil Mahew Thomas |
||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||
|
Address : |
W-661, 4th Avenue, Anna Nagar – West Extension,
Chennai-600101, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
18.12.1948 |
||||||||||||||||||||||||
|
Date of Appointment : |
03.01.1985 |
||||||||||||||||||||||||
|
PAN No.: |
AACPT4495J |
||||||||||||||||||||||||
|
Din No.: |
00457580 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Yohan Konglath John |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
1643, 13th Main Road, Anna Nagar, Chennai-600040,
Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
16.07.1985 |
||||||||||||||||||||||||
|
Date of Appointment : |
21.06.2010 |
||||||||||||||||||||||||
|
PAN No.: |
AEUPJ3265J |
||||||||||||||||||||||||
|
Din No.: |
03106569 |
||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.05.2012
|
Names of Shareholders |
|
No. of Shares |
|
John Kongalath John |
|
47000 |
|
Elsie John |
|
5400 |
|
Valliakandathil Mahew Thomas |
|
9600 |
|
Elizebeth Thomas |
|
5400 |
|
Annamma Chacko |
|
7500 |
|
Yohan K Johan |
|
100 |
|
|
|
|
|
TOTAL
|
|
75000 |
AS ON 24.05.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Supply, Erection and Servicing of Elevators
(Lifts) for Passenger, Goods and Bed Lifts and Components. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Actual
Production |
|
Lifts |
Nos. |
5879 |
NOTE: Installed capacity is not disclosed as the
company does not manufacture lifts as such but manufactures certain components only
and installs lifts at the site using significant bought out components only and
installs lifts at the site using significant bought out components. The number
of components also depends on the size, model of the lifts and other site
conditions.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
State Bank of India, Siruthozhil Branch, Madras -
600034, Tamilnadu, India ·
State Bank of Travancore, W-7, North Main Road, Anna
Nagar West Extension, Chennai – 600101, Tamilnadu, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kumar and Raj Chartered Accountants |
|
Address : |
New No.6, Old No.12, |
|
PAN No: |
AAHPM8712E |
|
|
|
|
Subsidiaries : |
Johnson Lifts Lanka Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Shares |
Rs.100/- each |
Rs.7.500
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.500 |
7.500 |
7.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2473.345 |
1993.341 |
1539.893 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2480.845 |
2000.841 |
1547.393 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
4916.172 |
4324.530 |
171.272 |
|
|
TOTAL BORROWING |
4916.172 |
4324.530 |
171.272 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
2.860 |
|
|
|
|
|
|
|
|
TOTAL |
7397.017 |
6325.371 |
1721.525 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
921.195 |
851.635 |
642.046 |
|
|
Capital work-in-progress |
139.226 |
82.895 |
107.766 |
|
|
|
|
|
|
|
|
INVESTMENT |
63.848 |
63.013 |
65.613 |
|
|
DEFERREX TAX ASSETS |
15.541 |
5.769 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2692.939
|
2382.244 |
1334.499
|
|
|
Sundry Debtors |
1430.394
|
1282.075 |
1102.742
|
|
|
Cash & Bank Balances |
2039.347
|
1830.113 |
1057.847
|
|
|
Other Current Assets |
1170.039
|
984.243 |
24.839
|
|
|
Loans & Advances |
400.191
|
207.323 |
1061.281
|
|
Total
Current Assets |
7732.910
|
6685.998 |
4581.208 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
273.595
|
331.993 |
254.176
|
|
|
Other Current Liabilities |
383.521
|
317.742 |
2844.827
|
|
|
Provisions |
818.587
|
714.204 |
576.105
|
|
Total
Current Liabilities |
1475.703
|
1363.939 |
3675.108
|
|
|
Net Current Assets |
6257.207
|
5322.059 |
906.100
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7397.017 |
6325.371 |
1721.525 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7544.929 |
6037.740 |
4397.444 |
|
|
|
Other Income |
152.891 |
86.697 |
58.828 |
|
|
|
TOTAL (A) |
7697.820 |
6124.437 |
4456.272 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
|
2689.491 |
|
|
|
Manufacturing and Services Expenses |
6910.913 |
5356.045 |
418.348 |
|
|
|
Employee Costs |
|
|
437.928 |
|
|
|
Administrative and other Expenses |
|
|
125.057 |
|
|
|
Sales and Distribution Expenses |
|
|
184.213 |
|
|
|
Increase/ Decrease in Inventory |
|
|
(233.059) |
|
|
|
TOTAL (B) |
6910.913 [Including
Financial Expenses and Depreciation] |
5356.045 [Including
Financial Expenses and Depreciation] |
3621.978 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
834.294 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
35.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
798.312 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
54.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
786.907 |
768.392 |
744.013 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
236.230 |
246.670 |
256.291 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
550.677 |
521.722 |
487.722 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
37.415 |
23.968 |
13.029 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period
Adjustment |
(0.476) |
1.922 |
7.090 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
450.000 |
440.000 |
440.000 |
|
|
|
Dividend |
60.000 |
60.000 |
15.000 |
|
|
|
Interim Dividend Paid |
0.000 |
0.000 |
22.500 |
|
|
|
Tax on Dividend |
10.197 |
10.197 |
6.373 |
|
|
BALANCE CARRIED
TO THE B/S |
67.419 |
37.415 |
23.968 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
58.001 |
37.789 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
796.634 |
395.272 |
|
|
|
Escalators and Elevators |
NA |
297.212 |
191.594 |
|
|
|
Capital Goods |
NA |
0.000 |
25.079 |
|
|
TOTAL IMPORTS |
NA |
1093.846 |
611.945 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7342.36 |
6956.29 |
6502.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.15
|
8.52 |
10.94
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.43
|
12.73 |
16.92
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.09
|
10.19 |
14.24
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.38 |
0.48
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.98
|
2.16 |
0.11
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.24
|
4.90 |
1.25
|
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 |
No |
|
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 |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS:
During the year,
the operations of the Company has seen a good rise in the level of components
of lifts produced from 5879 Lifts to 6226 Lifts and a rise in lifts installed from
5310 lifts to 5919 lifts. The turnover of the Company went up by Rs. 1507.200
Millions thereby registering a growth of 24.96 %. Service revenue also has kept
up with the growth.
OUTLOOK FOR
CURRENT YEAR AND FUTURE PLANS:
Further on the
speed segment of 2 mps / 2.5 mps lifts, c0ntroller for 2 MPS lifts is completed
and many jobs were dispatched during the course of this year. 2.5 MPS lift is
being tested in their test tower with their own controller and accessories.
Very many
improvements in component level were done for MRL Lifts based on the feedback
from field operations. For MRL Installations, single controller is being
developed. New implementations like wiring harness and sheet metal car are
implemented completely. The new design of overload device is also implemented
and found to be working satisfactory. Regenerative controller is on trial. This
development will go a long way in saving power in installations.
As on date 30
machines are under TPM. ISO 14000 EMS is being implemented and they are likely
to get certification by June / July 2012. In Butibori plant also ISO 14000 EMS
is under implementation. The new extension of production facility at Butibori
plant is operational now and further progress will be there with new machines
planned.
New expansion for
lifts at Oragadam started in May 2011. Total built up area is 160,000 sq. ft.
and expected to complete and operational in 2012-13 financial year.
|
UNSECURED LOAN |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Loans and advances from related parties |
337.002 |
240.253 |
|
Other loans and advances |
4579.170 |
4084.277 |
|
TOTAL
|
4916.172 |
4324.530 |
FIXED ASSETS:
- Land –
Freehold
- Land –
Leasehold
- Buildings
- Plant and Machinery
- Vehicles
- Computers
- Generator
- Electrical
Fittings
- Air
conditioners
- Water Coolers
- Furniture
and Fittings
- Office
Equipment
PRESS RELEASE:
TOSHIBA SHARING
EQUITY WITH JOHNSON LIFTS IN INDIA
MUMBAI, MAHARASHTRA, INDIA, SATURDAY, OCTOBER 27, 2012 -- (BUSINESS
WIRE INDIA)
Toshiba Elevator and Building Systems Corporation (TELC) (headquarters
Tokyo, Japan), a subsidiary of Toshiba Corporation, and Johnson Lifts Private
Limited (JLPL) (headquarters Chennai, India) today officially announces
establishment of Toshiba Johnson Elevator (India) Private Limited (TJEI) to
strengthen growth and expand its operation in the Indian elevator market,
Shinichiro Akiba, Global President and CEO of Toshiba Elevator and Building
Systems Corporation, Tokyo, Japan said.
TJEI is established by joint business venture (JV) between TELC and
JLPL, with 49% equity participation from Johnson to Toshiba Elevator (India)
(TEI) (headquarter Mumbai, India), a rapidly growing 100% owned subsidiary of
TELC.
Akiba said, the newly established company will accelerate its business
utilizing TELC’s finest technologies to offer quality products targeting
premium segment to fulfill market’s demands for safer, comfortable, high
quality products. Furthermore, TJEI will expand its market in India by taking
advantages of JLPL’s sales and marketing channel, installation and after sales
service experience, manufacturing technologies for widening its integrated
business operation here in India, he added.
TEI was established in India in April 2011 and started business in July 2011.
Since its establishment, the company has secured more than 100 units including
high-speed elevators in the 65 storied iconic project “One Avighna Park” in
Mumbai.
Johnson is a market leader with 20% share in Indian market. The company
has installed more than 30,000 elevators and has a service base of
approximately 25,000 units. Johnson has factories for elevators in Chennai and
Nagpur and an exclusive factory for escalators in Chennai, Johnson Lifts
Private Limited Chairman John K John said.
Akiba when elaborating, Toshiba Elevator and Building System Corporation (TELC)
is a part of large Japanese conglomerate “Toshiba Corporation” which is a
global organization with over 135 year of history, with turnover of over $ 200
billion and employs more than 190,000 workforces. Toshiba Group has a global
presence with wide variety of products such as semiconductor, home electrical
appliance, electric and social infrastructural, nuclear energy etc., Toshiba
Group’s commitment is respect for people; contribute to society through new
value creation, based on its endearing commitment to people and world
environment. The Group’s slogan is “Committed to People, Committed to the Future”.
“Toshiba Elevator and Building System Corporation” (TELC) was
established by the Toshiba Group in 1966 to cater to the elevator and escalator
business, under the social infrastructure group. Today TELC is a vital company
under the social infrastructural group, not only in local market but has spread
its reach globally. The company has completed several high profile projects
including the world fastest elevator running at speed of 1010m/min at Taipei
Finance Center, which was completed in 2004. In the same year these elevator
were awarded the Guinness World Record Certificate for the world fastest
elevator in the world. Eight years have passed since then; these elevators have
been operating smoothly and still remain the world record. In addition to that
Toshiba has recently completed the Tokyo Sky Tree Project, which is the tallest
communication tower in the world. In this project TELC have installed 4 sets of
40 person capacity (2600kg) elevator travelling at 600 m/min and covering a
travel distance of 375 meters and 2 sets of 27 person capacity (1800kg)
elevators, which is the longest travel elevators in Japan. Further TELC hold
the record for the world fastest outdoor type observation elevator, which is
installed in Japan, Shinichiro Akiba, President and CEO of Toshiba Elevator and
Building Systems Corporation, Tokyo, Japan told.
Toshiba Elevator and Building Systems Corporation always believe in constant
and continuous improvement and development of our products to attain better
customer delight. In line with this we have already in process of releasing our
new Elcosmo III series (compact machine room) and Spacel III series (machine
room less) , which are the GREEN ELEVATOR series launched for Southeast Asia,
Middle East and India markets. The new Elcosmo III series and Spacel III series
are released in line with Toshiba commitment for environment and are based on
greener a technology, which saves energy consumption, thus translates as saving
to the customers.
Also Toshiba is planning to launch “Global Maintenance Support System” in India
and U.A.E. By this system the Toshiba Elevator will be able to monitor the
elevators troubles, provide immediate response to attend troubles, track and
monitor the site team progress on-line through hand held devices, also provide
work instruction through hand held devices and finally record the work result
and report in the local server to be available for further processing. The
report of the data stored in the server, will be automatically available to
TELC, Japan for their analysis of troubles, improvement in maintenance
methodology and inventory management etc.,. Toshiba believe that the after
sales service of the elevator is important aspect of the elevator business an d
to attain the customer delight in the Toshiba’s product is their fore most
priority.
Toshiba Elevator Group considers it as a mission not only to sell products but
also offer satisfaction to our customers by high technology, reliable quality
and service. In today’s market all over the world, price is important, however,
Toshiba Elevator Group has a policy not to compromise with safety and quality
at the same time ,be competitive by the way of innovation, improved process
management and Value engineering, Akiba told.
When asked by press to one of the management executives of Toshiba Elevator and
Managing Director of Toshiba Elevator Middle East Mr. Mohamed Iqbal about this
Toshiba-Johnson Joint Venture, he commented that it is good business strategy
for this present situation of India, it is great farsighted vision of our
President Mr. Akiba. Toshiba Elevator the pioneers in Elevator advance
technologies joining with 50 year old Johnson in India, will bring much more
good business results and it is win-win situation for both business
organization. Toshiba elevator though late in India market, it will fastly
catch up in the present tie-up.
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 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.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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.