1. Summary Information
|
|
|
Country |
India |
|
Company Name |
L G ELECTRONICS INDIA PRIVATE LIMITED |
Principal Name 1 |
Soonhwang Kwon |
|
Status |
Good |
Principal Name 2 |
Chang Sil Lee |
|
|
|
Registration # |
55-220109 |
|
Street Address |
A-27, Mohan
Co-Operative Industrial Estate, Mathura Road, New Delhi – 110044, India |
||
|
Established Date |
20.01.1997 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Colour Televisions |
|
|
# of employees |
3800 (Approximately) |
Product Name 2 |
Flat Panel Display |
|
Paid up capital |
Rs.
1,131,287,320/- |
Product Name 3 |
Air Conditioner |
|
Shareholders |
Foreign holdings - 100.00% |
Banking |
Standard
Chartered Bank |
|
Public Limited Corp. |
NO |
Business Period |
16 years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
A
(68) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
Korea |
LG
Electronics INC |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
13,297,000,000 |
Current Liabilities |
12,562,710,000 |
|
Inventories |
10,871,000,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
6,576,000,000 |
Other Liabilities |
1,353,000,000 |
|
Deferred Assets |
650,000,000 |
Total Liabilities |
13,915,710,000 |
|
Invest& other Assets |
183,000,000 |
Retained Earnings |
16,530,000,000 |
|
|
|
Net Worth |
17,661,290,000 |
|
Total Assets |
31,577,000,000 |
Total Liab. & Equity |
31,577,000,000 |
|
Total Assets (Previous Year) |
37,504,000,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales (Total Income) |
115,684,000,000 |
Net Profit |
3,131,000,000 |
|
Sales(Previous yr) |
119,230,000,000 |
Net Profit(Prev.yr) |
2,977,000,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
L G ELECTRONICS
INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-27, Mohan
Co-Operative Industrial Estate, Mathura Road, New Delhi – 110044 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.01.1997 |
|
|
|
|
Com. Reg. No.: |
55-220109 [New] 20-031138 [Old] |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1131.287
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32107DL1997PTC220109 [New] U32107UP1997PTC031138 [Old] |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEL03835G /
PNEL03836A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1745Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader in Colour Televisions, Flat Panel Display, Air
Conditioners, Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum
Cleaners, Optical Disk Drive, Audio and Digital Video Display Systems,
Monitors and GSM Mobiles. |
|
|
|
|
No. of Employees
: |
3800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 70600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is subsidiary of LG Electronics Inc., Korea. It is a well established and reputed company having fine track record.
It is a consumer durable giant and has a well established market. Financial
position of the company appears to be sound. Trade relations are fair.
Business is active. Payments are reported to be regular and as per
commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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
|
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
Office/ Factory 1 : |
A-27, Mohan
Co-Operative Industrial Estate, Mathura Road, New Delhi – 110044, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
Email : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Plot No. A-5, MIDC
Ranjangaon, Taluka Shirur, Pune - 412220, Maharashtra, India |
|
|
|
|
Factory 3 : |
B - 243 Ground
Floor, Okhla Industrial Area, Phase – I, New Delhi – 110020, India |
|
Tel No.: |
91-11-26371208 |
|
|
|
|
Factory 4 : |
Located at Ø
Greater
Noida, Uttar Pradesh, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Soonhwang Kwon |
|
Designation : |
Managing director |
|
Address : |
801, Earth Court-1, JP Greens, Greater Noida, Gautam Budh Nagar, Uttar
Pradesh, India |
|
Date of Birth/Age : |
13.10.1958 |
|
Date of Appointment : |
01.01.2011 |
|
DIN No.: |
03389876 |
|
|
|
|
Name : |
Chang Sil Lee |
|
Designation : |
Director |
|
Address : |
14 Poorvi Marg, Second Floor, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
16.12.1964 |
|
Date of Appointment : |
19.03.2010 |
|
DIN No.: |
03031902 |
|
|
|
|
Name : |
Un Tae Kim |
|
Designation : |
Director |
|
Address : |
S-51, 2nd Floor, Panchsheel Park, New Delhi - 110017 |
|
Date of Birth/Age : |
14.01.1965 |
|
Date of Appointment : |
13.08.2012 |
|
DIN No.: |
06364228 |
|
|
|
|
Name : |
Bo Kyung Sung |
|
Designation : |
Director |
|
Address : |
Flat No. D 6, IVY Gien Building, Marigold Premises, Survey No. 15,
Talwadgon Sheri, District Pune, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1960 |
|
Date of Appointment : |
21.12.2011 |
|
DIN No.: |
05169048 |
|
|
|
|
Name : |
Soon Won Kwon |
|
Designation : |
Director |
|
Address : |
C-3/10, 1st Floor, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
23.12.1970 |
|
Date of Appointment : |
21.12.2011 |
|
DIN No.: |
05169036 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Panda |
|
Designation : |
Secretary |
|
Address : |
H-4, Parsvnath Prestige, Plot No. 2, Sector – 93A, Noida, Uttar
Pradesh, India |
|
Date of Birth/Age : |
01.06.1966 |
|
Date of Appointment : |
21.01.2002 |
|
PAN No.: |
AKAPP8069J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
LG Electronics
Inc, Korea |
|
113128726 |
|
Ashish Agrawal |
|
1 |
|
Vipin Gupta |
|
1 |
|
Yasho Vardhan
Verma |
|
1 |
|
Abhay Sood |
|
1 |
|
Kishor Kumar Kaul |
|
1 |
|
Vinod Kumar |
|
1 |
|
|
|
|
|
Total |
|
113128732 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader in Colour Televisions, Flat Panel Display, Air
Conditioners, Refrigerators, Microwave Ovens, Washing Machines, Compressors,
Vacuum Cleaners, Optical Disk Drive, Audio and Digital Video Display Systems,
Monitors and GSM Mobiles. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
3800 (Approximately) |
|
|
|
|
Bankers : |
Ø Standard Chartered
Bank, Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi -
110001, India Ø The Bank of Nova
Scotia, Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi - 110001, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered Accountants |
|
Address : |
7th Floor,
Building 10, Tower B, DLF Cyber City Complex, DLF City Phase - II ,
Gurgaon-122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD2095B |
|
|
|
|
Holding company : |
LG Electronics
Inc., Korea |
|
|
|
|
Fellow Subsidiary company : |
Ø Hitachi-Lg Data
Storage Inc. (Ejds) Ø Hitachi-Lg Data
Storage Inc. Ø Lg Alina
Electronics Ø LG Chem Limited Ø LG CNS Inc. Ø LG CNS India
Private Limited Ø Lg Display
Company Limited Ø Lg Electronics
(China) Company Limited Ø Lg Electronics
(Huizhou) Inc. Ø Lg Electronics
(Levant) - Jordan Ø Lg Electronics
(M) Sdn Bhd Ø LG Electronics
(Thailand) Company Limited Ø Lg Electronics
Africa Logistics Fze(Emaf) Ø Lg Electronics
Alabama, Inc. Ø Lg Electronics
Almaty Kazak Company Limited Ø Lg Electronics
Argentina S.A. Ø Lg Electronics
Australia Pty., Limited Ø Lg Electronics
Benelux(Eebn) Ø Lg Electronics
Canada, Inc. Ø Lg Electronics
Colombia Ltda Ø Lg Electronics
Czech S.R.(Eecz) Ø Lg Electronics
Da Amazonia Ltda Ø Lg Electronics
De Sao Paulo Ltda , Brazil Ø Lg Electronics
Deutschland.Gmbh. (Eedg) Ø Lg Electronics
Dubai Fze Ø Lg Electronics
Espana S.A. Ø Lg Electronics
France S.A.S. Ø LG Electronics
GULF FZE Ø Lg Electronics
Hellas S.A Ø Lg Electronics
Hk Company Limited Ø Lg Electronics Italia
S.P.A. (Eeis) Ø Lg Electronics
Japan Inc. Ø Lg Electronics
Magyar Kft. (Eemk) Ø LG Electronics
Mexico, S.A. De C.V. Ø Lg Electronics
Middle East Company Limited Ø LG Electronics
Morocco S.A.R.C. Ø LG Electronics
Morocco S.A.R.L. Ø Lg Electronics Nanjing
Display Company Limited Ø Lg Electronics
Panama S.A. Ø Lg Electronics
Philippines Inc. Ø Lg Electronics
Polska Sp.Zo.O Ø Lg Electronics
Portugal Ø LG Electronics
Qinhuangdao Company Limited Ø Lg Electronics
Romania S. Ø Lg Electronics
S.A.(Pty) Limited Ø Lg Electronics
Service Europe Netherlands B.V. Ø LG Elec
(Shenyang) Inc Ø Lg Electronics
Singapore Pte Limited Ø LG Soft Ø Lg Electronics
Taiwan Taipeu Company Limited Ø LG Electronics
Tian Jin Appliances Company Limited Ø Lg Electronics
Ticaret A.S. Ø LG Electronics
U.S.A. INC. Ø Lg Electronics
Ukraine Ø Lg Electronics
United Kingdom Limited Ø Lg Electronics
Vietnam Company Limited Ø LG Hausys
Limited Ø Lg Innotek
(Huizhou) Company Limited Ø Lg Innotek.
Company Limited Ø LG International
(HK) Limited Ø Lg International
Corp. Ø Lg International
(S'Poer) Pte., Limited Ø LG Management
Development Institute Company Limited Ø LG-Nortel
Company Limited Ø Lg Polymers
India Private Limited Ø Lg Service World Ø Lgeec Ø Lgeot'S Branch
In Almaty Kazak Ø Lg-Ericsson
Company Limited Ø Lg-Shaker
Company Limited Ø Lg-Shaker Company
Limited Ø PT. LG
Electronics Indonesia Ø PT.LG Innotek
Indonesia Ø Tai Zhou Lg
Electronics Refrigeration Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113,128,732 |
Equity Shares |
Rs. 10/- each |
Rs. 1131.287
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 |
1131.290 |
1131.290 |
1131.287 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16530.000 |
18658.000 |
15681.150 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17661.290 |
19789.290 |
16812.437 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
17661.290 |
19789.290 |
16812.437 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6576.000 |
6177.000 |
4952.825 |
|
|
Capital Advance |
0.000 |
0.000 |
56.738 |
|
|
Capital work-in-progress |
183.000 |
353.000 |
124.459 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
650.000 |
543.000 |
687.116 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10871.000
|
16450.000 |
15466.737
|
|
|
Sundry Debtors |
4490.00
|
5905.000 |
5214.147
|
|
|
Cash & Bank Balances |
4957.000
|
3692.000 |
5432.125
|
|
|
Other Current Assets |
1101.000
|
1403.000 |
2817.080
|
|
|
Loans & Advances |
2749.000
|
2981.000 |
1858.010
|
|
Total
Current Assets |
24168.000
|
30431.000 |
30788.099
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10195.000
|
13893.000 |
1569.900
|
|
|
Other Current Liabilities |
2367.710
|
2600.710 |
16859.264
|
|
|
Provisions |
1353.000
|
1221.000 |
1367.636
|
|
Total
Current Liabilities |
13915.710
|
17714.710 |
19796.800
|
|
|
Net Current Assets |
10252.290
|
12716.290 |
10991.299
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
17661.290 |
19789.290 |
16812.437 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
115684.000 |
119230.000 |
106911.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
|
Employees Remuneration and Benefits |
|
|
|
|
|
|
Administrative, Sales and Marketing Expenses |
|
|
|
|
|
|
TOTAL (B) |
109372.000 |
113465.000 |
100845.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6312.000 |
5765.000 |
6066.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.000 |
2.000 |
8.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6311.000 |
5763.000 |
6058.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1891.000 |
1579.000 |
1337.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4420.000 |
4184.000 |
4721.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1289.000 |
1207.000 |
1247.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3131.000 |
2977.000 |
3474.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
17902.000 |
14925.000 |
11451.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
314.000 |
0.000 |
0.000 |
|
|
|
Interim Dividend |
4525.000 |
0.000 |
0.000 |
|
|
|
Tax on Interim Dividend |
734.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
15460.000 |
17902.000 |
14925.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
15037.00 |
|
|
|
Service Warranty Claims |
0.000 |
0.000 |
246.000 |
|
|
|
Reimbursement of Expense |
0.000 |
0.000 |
506.000 |
|
|
|
FOB Value of Exports |
11362.000 |
12060.000 |
0.000 |
|
|
|
Others |
386.000 |
431.000 |
0.000 |
|
|
TOTAL EARNINGS |
11748.000 |
12491.000 |
15789.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Spares, Capital Goods |
43219.000 |
54338.000 |
54135.000 |
|
|
|
Others |
2014.000 |
2896.000 |
2971.000 |
|
|
TOTAL IMPORTS |
45233.000 |
57234.000 |
57106.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.68 |
26.32 |
30.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.71
|
2.50 |
3.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.38
|
11.43 |
13.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.21 |
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74
|
1.72 |
1.56
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
No |
Note: The registered address of the company has
been shifted from Plot No - 51 Udyag Vihar, Surajpur Kasna Road, Greater Noida -
201306, Uttar Pradesh, India to the present w.e.f.30.05.2011
GENERAL INFORMATION:
Subject was
incorporated on January 20, 1997 to manufacture and trade in Colour
Televisions, Flat Panel Display, Air Conditioners, Refrigerators, Microwave
Ovens, Washing Machines, Compressors, Vacuum Cleaners, Optical Disk Drive,
Audio & Digital Video Display Systems, Monitors and GSM Mobiles. The
manufacturing facilities of the company are situated at Greater Noida in Uttar
Pradesh and also in Ranjangaon near Pune in the State of Maharashtra. The
company is closely held with 113,128,726 shares held by LG Electronics Inc.,
South Korea and the balance 6 shares held by its nominees.
The accompanying
financial statements reflect the results of the activities undertaken by the
Company during the year ended March 31, 2012.
FINANCE
The Company’s Bank
Loan rating under BASEL II was reaffirmed at AA+/Stable under Long Term and
Highest Rating of A1+ under Short Term. The company was able to sustain its
Surplus Cash levels during the year due to efficient Working Capital Management
and by adopting Financial Process Innovations and Best Practices across all the
departments.
PERFORMANCE REVIEW
In spite of
devaluation of INR against USD, decreasing GDP growth and increasing inflation
in the Economy, the Company was able to maintain its Market leadership in most
of the Product segment. The Company registered sales & other income of
Rs.115680.000 Millions and Profit after Tax of Rs.3130.000 Millions.
PRODUCTION FACILITIES
During the year
both Manufacturing unit of the Company at Greater Noida and Ranjangaon, Pune
has done manufacturing process improvement resulting into higher efficiency,
tact time reduction and better productivity.
The Company has
implemented low cost automation in all Manufacturing line to enhance
productivity in term of Tact time reduction and Unit per Hour (UPH) improvement
Some other initiative includes installation of free flow conveyor in Washing
Machine Line, leakage improvement in AC Line, Manufacturing Line extension in
CTV, installation of automatic ESD sensor in CTV line, reduction in reloading
quantity in compressor line at the Manufacturing unit at Greater Noida
New line set up
for Multi V Commercial Air conditioner and lay out change in Refrigerator line
at the Manufacturing unit at Ranjangaon Factory.
GSM Manufacturing facility was discontinued during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U32107DL1997PTC220109 |
|
Name of the company
|
L G ELECTRONICS
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-27, Mohan
Co-Operative Industrial Estate, Mathura Road, New Delhi – 110044, India Email: pradeep.panda@lge.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
80013609 |
|
Type of charge |
Book debts Others [1st pari passu charge over current assets] |
|
Particular of
charge holder |
Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23
Barakhamba Road, New Delhi - 110001, India Email: suresh.nair@sc.com |
|
Nature of description
of the instrument creating or modifying the charge |
Supplementary hypothecation agreement
of stocks / book debts |
|
Date of
instrument Creating the charge |
07.02.2013 |
|
Amount secured by
the charge |
Rs. 1250.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as may
be determined by the bank from time to time. Terms of Repayment As per agreement. Margin As per agreement. Extent and Operation of the charge Extent and
Operation - 100% |
|
Short particulars
of the property charged |
All stocks in
trade consisting of raw material, finished goods, goods in process of mfg.
and other merchandise what so ever stored or to be stored at borrowers
premises and godowns and all present and future book debts, outstanding
moneys, receivables, claims and bills etc. shall be Hypothecation to the Bank
by way of first charge on a Pari Passu basis. |
|
Date of
Modification |
23.04.2009 |
|
Particulars of
the present modification |
Banks first pari
passu charge over all present and future stocks, book debts, money receivable
etc. already registered for Rs. 1971.800 Millions shall stand modified to Rs.
1250.000 Millions. All terms and
condition remaining the same |
FIXED ASSETS
Ø Leasehold Land
Ø Freehold Land
Ø Building
Ø Plant and
Machinery
Ø Furniture and
Fixtures
Ø Office Equipments
Ø Vehicles
Ø Licenses and
Software
Ø IT Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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. 54.71 |
|
|
1 |
Rs. 82.79 |
|
Euro |
1 |
Rs. 71.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
68 |
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.