MIRA
INFORM REPORT
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Report Date : |
28.06.2013 |
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 of windmill. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (76) |
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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 160000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a subsidiary of Siemens AG, Germany. It is a well established
and a reputed company having and excellent track record. There appears a drastic dip in the profitability of the company during
2012. Financial position of the company appears to be strong. Liquidity of
the company is good. Fundamentally the company is healthy. Trade relations are fair. Business is active. Payments terms are
regular and as per commitments. In view at experienced promoters the company can be considered normal
for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Borrowing: AAA |
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Rating Explanation |
Highest degree of safety and lower credit risk. |
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Date |
25 July 2012 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term rating: A1+ |
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Rating Explanation |
Very strong degree of safety and lowest credit risk. |
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Date |
25 July 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 |
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Factory: |
309/2 Chettipedy Village, Thandalam Post Sriperumbudur Taluka, Kancheepuram District – 602105, Tamilnadu, India |
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 31.03.2013
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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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266464774 |
74.96 |
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266464774 |
74.96 |
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Total shareholding of Promoter and Promoter Group (A) |
266464774 |
74.96 |
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(B) Public Shareholding |
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|
3640707 |
1.02 |
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|
693152 |
0.19 |
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1000 |
0.00 |
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24210478 |
6.81 |
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12681942 |
3.57 |
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41227279 |
11.60 |
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8197134 |
2.31 |
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36736241 |
10.33 |
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1640174 |
0.46 |
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1229144 |
0.35 |
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39542 |
0.01 |
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29250 |
0.01 |
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1160352 |
0.33 |
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47802693 |
13.45 |
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Total Public shareholding (B) |
89029972 |
25.04 |
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Total (A)+(B) |
355494746 |
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) |
355494746 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of windmill. |
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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 |
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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 : |
Not Available |
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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 1 : |
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Name : |
Bharat S. Raut
and Company Chartered
Accountants |
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Auditors 2 : |
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Name : |
S.R Batliboi and
Associates LLP Chartered
Accountants |
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Address: |
14th
Floor, The Ruby, 29 Senapati Bapat Marg, Mumbai – 400028, Maharashtra, India |
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Tel No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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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 31.01.2013
Authorised Capital : Rs.2000.000 Millions
Paid-up Capital : Rs.712.240 Millions
As on 30.09.2012
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 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
681.000 |
681.000 |
|
(b) Reserves & Surplus |
|
38922.000 |
37481.000 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Share capital suspense account |
|
23.000 |
0.000 |
|
|
|
0 |
0 |
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
39626.000 |
38162.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
1048.000 |
1105.000 |
|
(d) long-term provisions |
|
3075.000 |
3004.000 |
|
Total Non-current Liabilities (3) |
|
4123.000 |
4109.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
26542.000 |
22573.000 |
|
(c) Other current
liabilities |
|
22079.000 |
21854.000 |
|
(d) Short-term provisions |
|
14077.000 |
15035.000 |
|
Total Current Liabilities (4) |
|
62698.000 |
59462.000 |
|
|
|
|
|
|
TOTAL |
|
106447.000 |
101733.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
13901.000 |
11048.000 |
|
(ii) Intangible Assets |
|
221.000 |
243.000 |
|
(iii) Capital
work-in-progress |
|
850.000 |
2195.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
410.000 |
405.000 |
|
(c) Deferred tax assets (net) |
|
3176.000 |
1889.000 |
|
(d) Long-term Loan and Advances |
|
5341.000 |
4713.000 |
|
(e) Other Non-current assets |
|
7773.000 |
5471.000 |
|
Total Non-Current Assets |
|
31672.000 |
25964.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
9431.000 |
8078.000 |
|
(c) Trade receivables |
|
39124.000 |
36288.000 |
|
(d) Cash and cash
equivalents |
|
9768.000 |
12750.000 |
|
(e) Short-term loans and
advances |
|
5690.000 |
8995.000 |
|
(f) Other current assets |
|
10762.000 |
9658.000 |
|
Total Current Assets |
|
74775.000 |
75769.000 |
|
|
|
|
|
|
TOTAL |
|
106447.000 |
101733.000 |
|
SOURCES OF FUNDS |
|
|
30.09.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
674.320 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
34103.468 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
5] Share capital suspense account |
|
|
0.000 |
|
|
NETWORTH |
|
|
34777.788 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2.410 |
|
|
TOTAL BORROWING |
|
|
2.410 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
34780.198 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
7339.937 |
|
|
Capital work-in-progress |
|
|
2465.158 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3884.606 |
|
|
DEFERREX TAX ASSETS |
|
|
1313.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
15335.216
|
|
|
Sundry Debtors |
|
|
33023.441
|
|
|
Cash & Bank Balances |
|
|
18534.430
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Other Non-Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
12448.994
|
|
Total
Current Assets |
|
|
79342.081 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
29188.600
|
|
|
Other Current Liabilities |
|
|
14703.662
|
|
|
Provisions |
|
|
15672.322
|
|
Total
Current Liabilities |
|
|
59564.584 |
|
|
Net Current Assets |
|
|
19777.497
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
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 |
|
QUARTERLY RESULTS
|
Particulars |
|
31.12.2012 |
31.03.2012 |
|
Audited / UnAudited |
|
UnAudited |
UnAudited |
|
Net Sales |
|
24856.400 |
29555.600 |
|
Total Expenditure |
|
23240.600 |
28802.400 |
|
PBIDT (Excl OI) |
|
1615.900 |
753.200 |
|
Other Income |
|
83.500 |
124.700 |
|
Operating Profit |
|
1699.400 |
877.900 |
|
Interest |
|
47.300 |
83.500 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
1652.100 |
794.400 |
|
Depreciation |
|
560.800 |
610.100 |
|
Profit Before Tax |
|
1091.300 |
184.300 |
|
Tax |
|
360.600 |
(115.200) |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
730.700 |
299.500 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
730.700 |
299.500 |
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 Debt /Networth) |
|
0.00
|
0.00 |
0.00
|
|
|
|
|
|
|
|
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 |
Yes |
|
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] |
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 |
LITIGATION DETAILS
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case: |
Pending |
|
Status: |
Company Petition |
|
Status of: |
61 |
|
Year: |
2012 |
|
Petitioner: |
Vista Security Technics Private |
|
Respondent: |
Siemens Limited |
|
Pet’s: Advocate: |
M/s. King and Partridge |
|
Res’s: Advocate: |
M/s. S.M. Gopikrishnan, CGC |
|
Category: |
No Category Mentioned |
|
|
Last listed on.: No date mentioned |
|
Case Updated on: |
16 April 2010 |
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.
STATEMENT
OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 31ST
MARCH 2013
(Rs. In Millions)
|
Sr. No. |
Particular |
Quarter Ended (Unaudited) |
Six Months Ended (Unaudited) |
|
|
|
|
31.03.2013 |
31.12.2012 |
31.03.2013 |
|
1 |
Income from
Operations |
|
|
|
|
|
a) Net Sales / Income from Operations (Net of Excise Duty) |
29077.219 |
24618.457 |
53695.676 |
|
|
b) Other Operating Income |
478.355 |
343.499 |
821.854 |
|
|
Total Income from
Operations (Net) |
29555.574 |
24961.956 |
54517.530 |
|
2 |
Expenses |
|
|
|
|
a) Cost of materials consumed (including direct project cost) |
14937.276 |
13678.064 |
28615.342 |
|
|
|
b) Purchase of Stock in trade |
6080.506 |
5426.045 |
11506.551 |
|
|
c) Changes in Inventories of Finished Goods, Work-in-progress and Stock-in-Trade |
1528.316 |
(1184.841) |
343.475 |
|
|
d) Employee Benefits Expense |
3288.660 |
3445.605 |
6734.265 |
|
|
e) Depreciation and Amortisation Expense |
610.082 |
587.503 |
1197.585 |
|
|
f) Other Expenses |
2967.637 |
2041.171 |
5008.808 |
|
|
Total Expenses |
29412.479 |
23993.547 |
53406.026 |
|
3 |
Profit / (Loss)
from Operations before Other Income, Finance Cost and Exceptional Items (1-2) |
143.095 |
968.409 |
1111.504 |
|
4 |
Other Income |
124.743 |
68.814 |
193.557 |
|
5 |
Profit / (Loss)
before Finance Cost and Exceptional Items (3+4) |
267.838 |
1037.223 |
1305.061 |
|
6 |
Finance Costs |
83.512 |
86.690 |
170.202 |
|
7 |
Profit / (Loss)
after Finance cost but before Exceptional Items (5-6) |
184.326 |
950.533 |
1134.859 |
|
8 |
Exceptional Items |
- |
- |
- |
|
9 |
Prior period items |
- |
- |
- |
|
10 |
Profit / (Loss)
before Tax (7-8-9) |
184.326 |
950.533 |
1134.859 |
|
11 |
Tax Expense |
(115.151) |
314.151 |
199.000 |
|
12 |
Net Profit / (Loss)
after Tax (10-11) |
299.477 |
636.382 |
935.859 |
|
13 |
Paid Up Equity Share Capital (Face Value of the share – Rs. 2/- each) |
710.990 |
704.066 |
710.990 |
|
14 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year |
NA |
NA |
NA |
|
15 |
Earnings Per Share (EPS) (in Rs.) |
|
|
|
|
|
a) Basic and b) Diluted |
0.84 |
1.79 |
2.63 |
(Rs. In Millions)
|
Sr. No. |
Particular |
Quarter Ended (Unaudited) |
Six Months Ended (Unaudited) |
|
|
|
|
31.03.2013 |
31.12.2012 |
31.03.2013 |
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
- Number of Shares |
89029972 |
89029897 |
89029972 |
|
|
- Percentage of Shareholding |
25.04% |
25.29% |
25.04% |
|
2 |
Promoters and
Promoter Group Shareholding |
|
|
|
|
|
a) Pledged /
Encumbered |
|
|
|
|
|
- Number of Shares |
- |
- |
- |
|
|
- Percentage of Shares (as a % of total shareholding of promoter and promoter group) |
- |
- |
- |
|
|
- Percentage of Shares (as a % of total share Capital of the Company) |
- |
- |
- |
|
|
b) Non-Encumbered |
|
|
|
|
|
- Number of Shares |
266464774 |
263003236 |
266464774 |
|
|
- Percentage of Shares (as a % of total shareholding of promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
|
- Percentage of Shares (as a % of total share Capital of the Company) |
74.96% |
74.71% |
74.96% |
INVESTOR COMPLAINTS
|
PARTICULARS |
QUARTER ENDED 31.03.2013 |
|
Pending at the beginning of the quarter |
2 |
|
Received during the quarter |
6 |
|
disposed off during the quarter |
8 |
|
Remaining unresolved at the end of the
quarter |
0 |
SEGMENTWISE REVENUE,
RESULT AND CAPITAL EMPLOYED FOR THE QUARTER AND SIX ONTHS ENDED 31ST
MARCH 2013
(Rs. In Millions)
|
Sr. No. |
Particular |
Quarter Ended (Unaudited) |
Six Months Ended (Unaudited) |
|
|
|
|
31.03.2013 |
31.12.2012 |
31.03.2013 |
|
1 |
Segment Revenue |
|
|
|
|
|
Infrastructure and Cities |
8577.005 |
8249.048 |
14826.053 |
|
|
Energy |
10256.849 |
9328.741 |
19585.590 |
|
|
Industry |
9762.752 |
8590.634 |
18353.386 |
|
|
Healthcare |
2887.250 |
2243.862 |
5131.112 |
|
|
Unallocable Operating Revenue |
142.031 |
109.114 |
251.145 |
|
|
Total |
31626.887 |
26521.399 |
58147.286 |
|
|
Less: Inter
Segment Revenue |
2070.313 |
1559.443 |
3629.756 |
|
|
Net Sales /
Income From Operations |
29555.574 |
24961.956 |
54517.530 |
|
2 |
Segment Results |
|
|
|
|
|
Infrastructure and Cities |
283.633 |
(1.723) |
281.910 |
|
|
Energy |
(160.415) |
385.859 |
225.444 |
|
|
Industry |
(179.026) |
359.990 |
180.964 |
|
|
Healthcare |
10.156 |
103.324 |
113.480 |
|
|
Total |
(45.652) |
847.450 |
801.798 |
|
|
Add: Interest Income net off expenses |
(57.540) |
(17.867) |
(75.407) |
|
|
Other Un-allocable income net off un-allocable expenditure |
287.518 |
120.950 |
408.468 |
|
|
Total
Profit Before Tax |
184.326 |
950.533 |
1134.859 |
|
3 |
Capital Employed |
|
|
|
|
|
Infrastructure and Cities |
9316.503 |
8778.601 |
9316.503 |
|
|
Energy |
15008.747 |
14258.477 |
15008.747 |
|
|
Industry |
7079.148 |
10274.034 |
7079.148 |
|
|
Healthcare |
(121.860) |
654.588 |
(121.860) |
|
|
Unallocable |
10086.827 |
7020.592 |
10086.827 |
|
|
|
|
|
|
|
|
Total
Capital Employed |
41369.365 |
40986.292 |
41369.365 |
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
DETAILS
PRESS RELEASES
SIEMENS
BAGS RS 1044.000
MILLIONS CONTRACT IN BANGLADESH
APRIL 10, 2013
Siemens Limited, a flagship company of Siemens AG, today said it has bagged a Rs 1044.000 Millions contract from the Bangladesh Steels Re-Rolling Mills (BSRM) to build a gas insulated switchgear substation.
"This is the first private sector-funded GIS substation project and the largest order size in the GIS segment in Bangladesh," the company said in a statement. Under the contract, Siemens' energy sector will be implementing the project on a turnkey basis, it said.
"Together with the 230kV/33kV GIS, Siemens will also provide high-performance, reliable, cost-competitive and energy-efficient technologies such as control relay panels and a substation automation system," the release said. The project is expected to be commissioned in 15 months.
BSRM will be utilising the GIS substation to provide uninterrupted power to its new 1-MTPA steel plant, it said. "It is a breakthrough for Siemens in the private sector in Bangladesh. With this project we intend to create a benchmark for future power projects in this country.
Power is the need of the hour in Bangladesh, like in the rest of South Asia, and we are confident that Siemens technologies will form the backbone of the power infrastructure in the country," Siemens South Asia Sector Cluster Lead - Energy Sector A K Dixit said.
SIEMENS MARKS 10TH YEAR IN SRI LANKA WITH RENEWED FOCUS ON MEETING THE
NATION’S POWER, INFRASTRUCTURE, INDUSTRY AND HEALTHCARE NEEDS
COLOMBO, 2013-MARCH-18
Siemens set up its full-fledged office in Sri Lanka in September 2004. In its tenth year of operations, the company is focusing on providing technologies to support the island nation’s high rate of economic growth.
Solutions available
for Sri Lanka span across Energy, Industry, Infrastructure and Cities and
Healthcare.
World-class, innovative technology solutions backed up by extensive network of trained engineers for after-sales service and maintenance.
Siemens is leveraging its worldwide network of innovators and R and D experts.
Siemens first set up its office in Colombo in September 2004.
Siemens, the global electronics and electrical engineering powerhouse, announced that it has expanded its portfolio of high-technology power, infrastructure and healthcare solutions for the Sri Lankan market. The solutions include steam turbines and transformers for energy-efficient power generation, gas-insulated switchgear substations ideal for power distribution in urban areas, mobility solutions for mass transportation, energy-efficient industrial motors and drives, and affordable health-care solutions such as X-ray and magnetic resonance imaging systems.
Siemens set up its full-fledged office in Sri Lanka in September 2004. In its tenth year of operations, the company is focusing on providing technologies to support the island nation’s high rate of economic growth. In the past ten year, Siemens Limited to-gether with its parent Siemens AG has implemented numerous pioneering projects in Sri Lanka. A few of these are the country’s first distribution management system for Colombo city, first linear accelerator used for cancer treatment, first-of-its-kind energy optimization solution in Sri Lanka using state-of-the-art drive solutions (SINAMICS) for the national water supply and drainage board, first biomass-powered steam turbine of 10 MW for the country’s leading cement supplier and integrated building management solution for high rise government and private buildings.
The solutions currently available for the Sri Lankan market are targeted at a
range of verticals – aviation, power distribution, building, infrastructure,
healthcare, material handling, manufacturing and industrial applications. They
integrate the best of tech-nological innovation from Siemens’ global team of
researchers, quality assurance and product features customized for the Sri
Lankan market.
Dr. Armin Bruck, Chief Executive Officer, Siemens South Asia Cluster, said, “We listen to our customers and based on feedback we have further increased our focus on customer satisfaction. In addition, we have trusted and capable partners such as DIMO (Diesel and Motor Engineering PLC) who have further strengthened the sales and service support of Siemens in Sri Lanka over many decades. Siemens is keen to make a crucial contribution to the power and infrastructure requirements of the fast-growing Sri Lankan economy. We have been working closely with key stakeholders such as the government, local industry and business partners in order to deliver the benefits of the latest technologies to the citizens of the progressive, modern nation of Sri Lanka.”
Ranjith Pandithage, Chairman and Managing Director, DIMO, said, “DIMO assures our customers that the quality of products and service meets their requirements. We are committed to delivering the best quality while ensuring an optimum balance of cost and features. The power and infrastructure solutions from Siemens are exactly what the Sri Lanka requires at the moment.” Siemens has a partnership with DIMO for sales and service support stretching back over 50 years.
Siemens also has business partnerships with Nikini Automation, Rotax Limited and Empire Trading Agency. Nikini is Siemens’ partner in the area of industry automation and drives business. Nikini is known across Sri Lanka for its expertise in automation systems and 24-hour service support that is typically required by manufacturing units to maintain their plant up-time. Rotax Limited and Empire Trading Agency represent Siemens for low voltage switchgear products.
Commenting on the solutions available for the Sri Lanka market, Dr. Bruck said, “There is an optimum balance between quality, features and cost. These products are high in performance and are cost-competitive, have a very high utility value and are available at price points that a vast majority of customers in India can afford."
Siemens is leveraging its global team of innovators and R and D experts to deliver world-class solutions in Sri Lanka. Siemens has 29,500 employees worldwide in R and D, including 17,000 software engineers and 190 R and D locations in 30 countries. It has been granted 57,300 patents so far, of which 20,000 are 'green' patents that form a part of the company's environmental portfolio.
INDIA GETS ITS FIRST MAGNETOM SPECTRA 3T MRI AT NM MEDICAL’S NEW
DIAGNOSTIC CENTRE IN SANCHETI HOSPITAL, PUNE
PUNE, 2013-FEBRUARY-17
MAGNETOM Spectra is the only 3T MRI system in Pune with Tim 4G technology, offering ultra-high-density coils with unique digital-in and digital-out RF transmit for improved flexibility, accuracy, and speed.
This is NM Medical’s second centre in Pune after its landmark centre in Kalyani Nagar in 2011, in addition to its multiple centres in Mumbai and Bangalore over the last three decades. If the Kalyani Nagar centre has set a new benchmark in delivery of diagnostic, preventive health checkup, and corporate health checkup services to citizens of Pune, the centre in Sancheti Hospital introduces the very best in Orthopaedic and Neuro imaging with the installation of MAGNETOM Spectra 3T MRI.
The demand to provide high quality imaging has constantly driven innovations in Magnetic Resonance Imaging (MRI). The advantages of higher field strength magnets are being realized and the MRI world is now looking at 3T imaging. Significant improvements in image quality, higher spatial resolution, and decreased scanning time have increased the usefulness of 3T, in a myriad of clinical applications.
"MAGNETOM Spectra offers a broad spectrum of applications from diagnosing damaged cartilage in the ankle to dynamic examinations of the abdominal area. We are glad that such an innovative product has been installed by NM Medical at Sancheti Hospital and will introduce this technology towards the benefits of the patients," says Mr. K N Umesh Kumar – MRI Business Head, Siemens Healthcare.
MAGNETOM Spectra is the only 3T MRI system in Pune with Tim 4G technology, offering ultra-high-density coils with unique digital-in and digital-out RF transmit for improved flexibility, accuracy, and speed.
The centre in Sancheti Hospital was inaugurated by Dr. (Prof.) Kishor Taori, Chairman, Maharashtra Medical Council, Mumbai and by Dr. K H Sancheti, Founder President and Chief Orthopaedic Surgeon, Sancheti Hospitals.
Dr. K H Sancheti said, “He was most excited about the addition of this premium imaging technology in his hospital. Sancheti Hospital has always been at the forefront of high end surgical services, and we are delighted to welcome NM Medical into our family to provide the very best in diagnostic imaging to all our patients.”
Dr. Nilesh Shah, Chairman, NM Medical comments, “At NM Medical we aim at providing world-class imaging service at affordable rates to enable our own population to receive the benefits of international standard diagnostic services and we are convinced that MAGNETOM Spectra 3T MRI will help us to achieve the same.”
In addition to 3T MRI, NM Medical’s centre in Sancheti Hospital also offers 24 hours services for CT Scan, Ultrasound and Doppler and 2D Echo. NM Medical will also manage the health checkup department at the hospital keeping in mind the growing emphasis on preventive healthcare.
NM Medical is the pioneer of radiology, pathology, cardiology, preventive and corporate health checkups in a diagnostic centre setting in India. Established in 1981, it is the largest chain of fully owned diagnostic centres in Western India.
SIEMENS LIMITED, ANNOUNCES Q2 2013 RESULTS; NEW ORDERS UP, PAT DOWN
2013-APRIL-26
For the second quarter of Financial Year 2013 ended March 31, 2013, Siemens Limited registered New Orders of Rs. 28141.000 Millions, up by 52% from Rs. 18492.000 Millions in the same period last year. Sales stood at Rs. 29077.000 Millions, down by 27% over Rs. 39882.000 Millions in Q2 2012.
Profit after Tax (PAT) for Q2 2013 was Rs. 299.000 Millions against Rs. 2975.000 Millions for Q2 2012. The difference is primarily accounted for by a charge of Rs. 900.000 Millions in the quarter on account of revised estimates of revenue, costs and project-related provisions as against a credit during the corresponding quarter of the previous year of Rs. 2659.800 Millions.
Dr. Armin Bruck, Managing Director, Siemens Limited said, “The results of the current quarter bear the impact of the prolonged slowdown in the economy. The significant improvement in New Orders is positive. However, profits are under pressure due to continued delays by our customers in project completion leading to updates in project costs. Further, the volatility in commodity and foreign exchange rates which, when marked to market, have also resulted in additional costs. The Company is continuing its measures to realize synergies from the acquisitions made in the last couple of years and to optimize further its cost position to increase its competitiveness in these challenging times.”
Among the highlights of the second quarter, Siemens IC Sector won an order worth over Rs. 3500.000 Millions to supply traction motors for Diesel Locomotive Works, Siemens Energy Sector won Rs. 1000.000 Millions order from BSRM (the largest private sector-funded GIS project in Bangladesh) and Siemens Industry Sector won a significant order worth Rs. 970.000 Millions from Surana Industries for its pelletization plan. Siemens Healthcare Sector installed India’s first simultaneous PET-MRI at Indraprastha Apollo Hospital’s PET SUITE, which features state-of-the-art PET-MRI and ultra HD PET CT under one roof.
During the quarter, the company completed the amalgamation of winergy drive systems india Private Limited
SIEMENS EMPOWERS SMES WITH TECHNOLOGY SOLUTIONS
2013-APRIL-23
Siemens Industry Sector unveiled the ‘Siemens Productivity Tour’, a nation-wide, multi-city mobile road show aimed at empowering small and medium manufacturing enterprises across India with technologies for productivity and efficiency.
Launches ‘Siemens Productivity Tour’, a mobile road show covering 204 locations in 86 cities It will highlight innovative technologies for productivity and effi-ciency improvement Verticals targeted include automotive, medical, aerospace, power, FandB, packaging, textile, printing and pharmaceutical industries Siemens Industry Sector unveiled the ‘Siemens Productivity Tour’, a nation-wide, multi-city mobile road show aimed at empowering small and medium manufacturing enterprises across India with technologies for productivity and efficiency. Targeted primarily at automotive, medical, aerospace, power, F and B, packaging, textile, printing and pharmaceutical industries, this road show will cover 204 locations in 86 cities across India. Through this ‘Productivity tour’, Siemens aims to raise awareness among the SMEs about the definite competitive advantage that can be gained by adopting innovative technologies and solutions According to FICCI, Indian manufacturing segment houses over 26 million MSME units that employ around 59 million people. However today, the Indian MSME sector contributes only 8% to the GDP, as compared to that of China, where the contribu-tion is almost 60% of the GDP.
Despite its enormous size, the sector is yet to realize its true potential. One of the reasons is the lack of technology penetration beyond industrial hubs in and around large cities. As the economy is going through testing times, it is becoming increa-singly difficult to sustain the high growth rates without embracing cutting edge tech-nology that can optimize energy efficiency and productivity.
Commenting on this launch, Mr. Bhaskar Mandal, Executive Vice President and Sector Cluster Lead - Industry Sector, Siemens South Asia, said, “It is imperative for manufacturers, especially the SME sector to adopt the latest technologies that ena-ble them to improve productivity, enhance flexibility, optimize costs and increase profit margins .Proven technologies from Siemens can help these industries accele-rate their growth and thus gain a competitive edge globally.”
On display inside the trailer will be innovative products ranging from variable fre-quency drives, servo motors, servo drives, motion controllers, CNCs and engineer-ing framework for automation and drive technology.
• SINAMICSV20
• SINAMICSG120
• SINAMICSG120D
• SINAMICSS
• SINUMERIK808D
• SINUMERIK828D
• SIMOTION
• Totally Integrated Automation
This road show will showcase how industrial processes can be optimized to achieve flexible, future ready, and highly productive integrated systems. Using videos and live technical demos, the road show will also demonstrate transparent energy flows and energy-saving potential using Siemens electric drive systems, motors and au-tomation technologies.
Starting from Delhi, the first leg of the ‘Productivity tour’ will cover 14 cities of north-ern India namely Lucknow, Rudrapur City, Haridwar, Yamunanagar, Chandigarh, Hoshiarpur, Amritsar, Ludhiana, Panipat, Alwar, Ajmer, Jodhpur, Dewas and Bhopal.
SIEMENS LIMITED WINS CONTRACT TO BUILD FIRST PRIVATE SECTOR-FUNDED GIS SUBSTATION
IN BANGLADESH
NEW DELHI, 2013-APRIL-10
Siemens Limited today announced that it has signed a contract worth Rs.1044.000 Millions with Bangladesh Steels Re-Rolling Mills Limited (BSRM), the largest steel manufacturing company in Bangladesh, to build a Gas Insulated Switchgear (GIS) substation. This is the first private sector-funded GIS substation project and the largest order size in the GIS segment in Bangladesh. BSRM will be utilizing the GIS substation to provide uninterrupted power to its new 1MTPA steel plant.
As an end-to-end solutions provider of power solutions, Siemens’ Energy Sector will be implementing the project on a turnkey basis. Together with the 230kV/33kV GIS, Siemens will also provide high-performance, reliable, cost-competitive and energy-efficient technologies such as control relay panels and a substation automation sys-tem. The project is expected to be commissioned in 15 months.
Commenting on the order win, Mr. A.K. Dixit, Sector Cluster Lead - Energy Sector, Siemens South Asia, said, “It is a breakthrough for Siemens in the private sector in Bangladesh. With this project we intend to create a benchmark for future power projects in this country. Power is the need of the hour in Bangladesh, like in the rest of South Asia, and we are confident that Siemens technologies will form the back-bone of the power infrastructure in the country.”
Speaking on this landmark project, Mr. Alihussain Akberali, Chairman - BSRM Group, Bangladesh, said, “We take pride in the fact that BSRM will be in a position to contribute to the power sector of Bangladesh when the project gets implemented. It is BSRM’s goal to strive for ‘sustainable growth’ and the capacity of the group is expanding with the establishment of new power plants. BSRM is confident of world-class and timely execution by Siemens.”
Siemens' GIS solutions are acknowledged for economic efficiency, high reliability, safe operations, long service life, low life-cycle and maintenance costs, good acces-sibility, and ergonomic and environment-compatible design. Since its introduction back in 1968, Siemens has installed more than 26,000 GIS bays worldwide in all climatic zones of the earth.
The GIS solution to be implemented for BSRM Bangladesh is
part of the SMART (simple-to-use, maintenance-friendly, affordable, reliable
and timely-to-market) product portfolio that has high-performance and utility
value while being cost-competitive.
SIEMENS MARKS 10TH YEAR IN SRI LANKA WITH RENEWED FOCUS ON MEETING THE
NATION’S POWER, INFRASTRUCTURE, INDUSTRY AND HEALTHCARE NEEDS
COLOMBO, 2013-MARCH-18
Siemens set up its full-fledged office in Sri Lanka in September 2004. In its tenth year of operations, the company is focusing on providing technologies to support the island nation’s high rate of economic growth.
Solutions available
for Sri Lanka span across Energy, Industry, Infrastructure and Cities and
Healthcare.
World-class, innovative technology solutions backed up by extensive network of trained engineers for after-sales service and maintenance.
Siemens is leveraging its worldwide network of innovators and R and D experts.
Siemens first set up its office in Colombo in September 2004.
Siemens, the global electronics and electrical engineering powerhouse, announced that it has expanded its portfolio of high-technology power, infrastructure and healthcare solutions for the Sri Lankan market. The solutions include steam turbines and transformers for energy-efficient power generation, gas-insulated switchgear substations ideal for power distribution in urban areas, mobility solutions for mass transportation, energy-efficient industrial motors and drives, and affordable health-care solutions such as X-ray and magnetic resonance imaging systems.
Siemens set up its full-fledged office in Sri Lanka in September 2004. In its tenth year of operations, the company is focusing on providing technologies to support the island nation’s high rate of economic growth. In the past ten year, Siemens Limited to-gether with its parent Siemens AG has implemented numerous pioneering projects in Sri Lanka. A few of these are the country’s first distribution management system for Colombo city, first linear accelerator used for cancer treatment, first-of-its-kind energy optimization solution in Sri Lanka using state-of-the-art drive solutions (SINAMICS) for the national water supply and drainage board, first biomass-powered steam turbine of 10 MW for the country’s leading cement supplier and integrated building management solution for high rise government and private buildings.
The solutions currently available for the Sri Lankan market are targeted at a
range of verticals – aviation, power distribution, building, infrastructure,
healthcare, material handling, manufacturing and industrial applications. They
integrate the best of tech-nological innovation from Siemens’ global team of
researchers, quality assurance and product features customized for the Sri
Lankan market.
Dr. Armin Bruck, Chief Executive Officer, Siemens South Asia Cluster, said, “We listen to our customers and based on feedback we have further increased our focus on customer satisfaction. In addition, we have trusted and capable partners such as DIMO (Diesel and Motor Engineering PLC) who have further strengthened the sales and service support of Siemens in Sri Lanka over many decades. Siemens is keen to make a crucial contribution to the power and infrastructure requirements of the fast-growing Sri Lankan economy. We have been working closely with key stakeholders such as the government, local industry and business partners in order to deliver the benefits of the latest technologies to the citizens of the progressive, modern nation of Sri Lanka.”
Ranjith Pandithage, Chairman and Managing Director, DIMO, said, “DIMO assures our customers that the quality of products and service meets their requirements. We are committed to delivering the best quality while ensuring an optimum balance of cost and features. The power and infrastructure solutions from Siemens are exactly what the Sri Lanka requires at the moment.” Siemens has a partnership with DIMO for sales and service support stretching back over 50 years.
Siemens also has business partnerships with Nikini Automation, Rotax Limited and Empire Trading Agency. Nikini is Siemens’ partner in the area of industry automation and drives business. Nikini is known across Sri Lanka for its expertise in automation systems and 24-hour service support that is typically required by manufacturing units to maintain their plant up-time. Rotax Limited and Empire Trading Agency represent Siemens for low voltage switchgear products.
Commenting on the solutions available for the Sri Lanka market, Dr. Bruck said, “There is an optimum balance between quality, features and cost. These products are high in performance and are cost-competitive, have a very high utility value and are available at price points that a vast majority of customers in India can afford."
Siemens is leveraging its global team of innovators and R and D experts to deliver world-class solutions in Sri Lanka. Siemens has 29,500 employees worldwide in R and D, including 17,000 software engineers and 190 R and D locations in 30 countries. It has been granted 57,300 patents so far, of which 20,000 are 'green' patents that form a part of the company's environmental portfolio.
SIEMENS WINS ORDER TO MODERNIZE KORBA STAGE-II PLANT OF NTPC
New Delhi, 2013-June-17
Order is worth Rs. 66 crores and involves installation of state-of-the-art, fourth-generation distributed control system - SPPA-T3000.
Siemens Limited has announced that it has received an order from National Thermal Power Corporation Ltd. (NTPC) for the renovation and modernization of its Korba Stage-II (3X500MW) plant in Chhattisgarh. Siemens emerged as the first choice solution provider for the customer and won the order against stiff competition from three major players.
Siemens engineers will replace the existing system with the state-of-the-art, fourth-generation distributed control system - SPPA-T3000 (Siemens Power and Process Automation) for the entire plant, including its boiler and turbine control systems.
The SPPA-T3000 process control system combines the reliability of proven, real-time process controllers with new technologies to establish a simple and robust plat-form. The system is designed to provide real-time data – at the right place, at the right time – to give power plant owners and operators the information they need to make right decisions, thus proving their ability to be competitive.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
76 |
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.