MIRA INFORM REPORT

 

 

Report Date :

20.03.2013

 

IDENTIFICATION DETAILS

 

Name :

SIEMENS LIMITED

 

 

Registered Office :

130, Pandurang Budhkar Marg, Worli, Mumbai – 400 018, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

30.09.2012

 

 

Date of Incorporation :

02.03.1957

 

 

Com. Reg. No.:

11-010839

 

 

Capital Investment / Paid-up Capital :

Rs. 681.000 Millions

 

 

CIN No.:

[Company Identification No.]

L28920MH1957PLC010839

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS44080B

MUMS41513D

NSKS06051D

MUMS00310C

 

 

PAN No.:

[Permanent Account No.]

AAACS0764L

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer and Marketer of Switchgear Items.

 

 

No. of Employees :

14250 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (78)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 2700000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of Siemens Ag, Germany. It is a well established and a reputed company having excellent track record. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

 

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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

AAA (Long Term)

Rating Explanation

Highest degree of safety and lowest credit risk.

Date

25.07.2012

 

Rating Agency Name

CRISIL

Rating

A1+ (Short Term)

Rating Explanation

Very strong degree of safety and lowest credit risk.

Date

25.07.2012

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

 

LOCATIONS

 

Registered Office :

130, Pandurang Budhkar Marg, Worli, Mumbai - 400 018, Maharashtra, India

Tel. No.:

91-22–24987000/ 01/ 02/ 24931349/ 50

Fax No.:

91-22–24987500/ 52/ 24941758

E-Mail :

kavita.ghatge@siemens.co.in

corporate-secretariat.in@siemens.com

ajai.jain@siemens.com    

Website :

http://www.siemens.co.in

 

 

Plant Locations :

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

 

 

Goa

L-6, Verna Industrial Area, Panjim-Margao Highway, Verna, Goa – 403 722, India

 

 

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

 

 

Andhra Pradesh

Plot No. 89 and 90, IDA, Gandhinagar, Post Balanagar, Hyderabad – 500 037, Andhra Pradesh, India

 

 

Karnataka

972, Devanahalli Road, Off Old Madras Road, Virgonagar Post, Bengaluru - 560 049, Karnataka, India

 

 

West Bengal

Nimpura Industrial Growth Centre, PO: Rakhajungle, Paschim Midnapur, Kharagpur – 721 301, West Bengal, India

 

 

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

 

 

Haryana

Sector-18, Unit No. 37, Gurgaon – 122002, Haryana, India

 

 

Sales Offices :

3rd Floor, Jyoti Mahal, No. 49, St. Marks Road, Bangalore – 560001, Karnataka, India

Tel. No.:

91-80-22042000

Fax No.:

91-80-41120435          

 

 

A and D-Division:

Plot No.- 78, JIL Building, Tower B, Sector-18, Near SBI Academy, Gurgaon- 122015, Haryana, India

Tel. No.:

91-124-3810928

E-Mail :

ashish.koundal@siemens.com

 

 

DIRECTORS

 

As on 31.03.2012

 

Name :

Mr. Deepak S. Parekh

Designation :

Chairman

Date of Birth/Age :

18.10.1944

Qualification :

B. Com, FCA (England and Wales)

Date of Appointment :

07.11.2003

 

 

Name :

Mr. Darius C. Shroff

Designation :

Director

Date of Birth/Age :

08.08.1944

Qualification :

BA (Hons.), LL.B., Solicitor

Date of Appointment :

20.02.1997

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

 

 

Name :

Mr. Yezdi H. Malegam

Designation :

Director

Date of Birth/Age :

24.09.1933

Qualification :

CA

Date of Appointment :

01.04.1998

 

 

Name :

Mr. Narendra J. Jhaveri

Designation :

Director

Date of Birth/Age :

09.08.1935

Qualification :

Masters Degree in Economics from Gujarat University M.Sc. in Economics from The London School of Economics

Date of Appointment :

09.11.2000

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

 

 

Name :

Mr. Keki Dadiseth

Designation :

Director

Date of Birth/Age :

20.12.1945

Qualification :

B. Com., FCA (England and Wales)

Date of Appointment :

27.01.2006

 

 

Name :

Mr. Pradip V. Nayak

Designation :

Director

Date of Birth/Age :

06.09.1943

Qualification :

Degree in Economics and Politics Read Law at Gray's Inn, London

Date of Appointment :

27.01.2006

 

 

Name :

Mr. Joe Kaeser

Designation :

Director

Date of Birth/Age :

23.06.1957

Qualification :

Studied Business Administration Dipl.-Betriebswirt

Date of Appointment :

01.10.2006

 

 

Name :

Dr. Roland Busch

Designation :

Director

 

 

Name :

Mr. Johannes Apitzsch

Designation :

Alternate Director for Dr. Roland Busch

 

 

Name :

Dr. Armin Bruck

Designation :

Managing Director and Chief Executive Officer

Date of Birth/Age :

06.02.1963

Qualification :

PhD in Operations Research Business Degree in Economics and Informatics

Date of Appointment :

01.10.2007

Other Directorships held in India

Siemens Technology and Services Private Limited

 

 

Name :

Mr. Sunil D Mathur

Designation :

Executive Director and Chief Financial Officer

 

 

KEY EXECUTIVES

 

Name :

Mr. Ajai Jain

Designation :

Vice president (Legal) and Company Secretary

 

 

Committees of Directors

 

Audit Committee

 
  • Yezdi H. Malegam (Chairman)
  • Deepak S. Parekh
  • Keki B. Dadiseth
  • Joe Kaeser

 

 

Investors Grievance

Committee

 
  • Darius C. Shroff (Chairman)
  • Pradip V. Nayak
  • Dr. Armin Bruck

 

 

Remuneration

Committee

 
  • Narendra J. Jhaveri (Chairman)
  • Darius C. Shroff
  • Deepak S. Parekh
  • Pradip V. Nayak

 

 

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

 

 

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 03.12.2012

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of total No. of Shares

A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

263003236

74.71

http://www.bseindia.com/include/images/clear.gifSub Total

263003236

74.71

Total shareholding of Promoter and Promoter Group (A)

263003236

74.71

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

3568419

1.01

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

485805

0.14

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

1000

0.00

http://www.bseindia.com/include/images/clear.gifInsurance Companies

25497525

7.24

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

12140805

3.45

http://www.bseindia.com/include/images/clear.gifSub Total

41693554

11.84

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

7820921

2.22

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

36566930

10.39

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

1721375

0.49

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

1227117

0.35

http://www.bseindia.com/include/images/clear.gifTrusts

42901

0.01

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

29250

0.01

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

1154966

0.33

http://www.bseindia.com/include/images/clear.gifSub Total

47336343

13.45

Total Public shareholding (B)

89029897

25.29

Total (A)+(B)

352033133

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

352033133

0.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Marketer of Switchgear Items.

 

 

Products :

Product Description

Item Code No. (ITC CODE)

Electrical Part of Machinery or Apparatus

854800

Electronic Automatic Regulators

903289

X-ray Apparatus

902210

 

PRODUCTION STATUS [AS ON 30.09.2011]

 

Particulars

Unit

Installed Capacity

Actual Production

Switchgear items

Nos.

20179114

16888811

Electric motor/generators

Nos.

20023

23913

Switchboards, control boards and misc. Accessories

Nos.

[Boards]

2900

2307

X-ray equipment

Nos.

1283

1409

Electro medical equipment

Nos.

209

--

Variable speed AC/DC derive systems, motor control modules and programmable control systems

 

 

 

Modules and programmable control system

 

6248

2315

Instrument Transformers

Nos.

2426

2111

Static Converter for railways

Nos.

610

246

Audio frequency track circuit

Nos.

900

1000

Interlocking relays

Nos.

250000

105105

Auxiliary inverter for AR locomotive

Nos.

180

130

Traction converter for diesel locomotive

Nos.

72

28

Electrical control cabinet

Nos.

288

68

Circuit breakers above 1000 volts

Nos.

1800

1160

Power Transformers

MVA

15000

9345

Single stage/ multi stage turbines

MW

120

73

Traction Converters for EMU

Nos.

180

--

Auxiliary Converters for EMU

Nos.

180

--

High Frequency Power Supply

Nos.

--

--

Digital Axcel Counter

Nos.

300

300

Medium Voltage Drive

Nos.

96

20

Ring main unit

Nos.

1000

461

Compact sub station

Nos.

164

125

Gas insulated switchgear

Nos.

600

423

Accessories

Nos.

23000

20319

BMS panels

Nos.

2000

781

Controllers

Nos.

8000

6810

Fire detector

Nos.

15000

9833

Power supply

Nos.

4800

4599

Signet keypads and accessories

Nos.

45000

42809

Gears / gear couplings / spares

Nos.

2500

2391

Bogie frames and parts there of

Nos.

525

13

Chemical and immunochemical reagent packs

Nos.

1403000

559847

 

 

GENERAL INFORMATION

 

No. of Employees :

14250 (Approximately)

 

 

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

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Bharat S. Raut and Company

Chartered Accountants

 

 

Cost Auditors :

 

Name :

R. Nanabhoy and Company

Chartered Accountants

 

 

Holding company :

Siemens AG

 

 

Wholly owned subsidiary of Siemens Limited (upto 9 May 2011)

iMetrex Technologies Limited, (Ireland)

 

 

Wholly owned subsidiary of iMetrex Technologies Limited (Ireland) (upto 9 May 2011)

Europlex Technologies Limited, (United Kingdom)

 

 

Wholly owned subsidiary of iMetrex Technologies Limited (Ireland) (upto 9 May 2011)

Europlex Technologies (Ireland) Limited, (formerly known as Europlex Manufacturing Limited, (Ireland))

 

 

Fellow Subsidiaries

  • Siemens Spa Algeria
  • Siemens S.A. Argentina
  • Siemens Limited. Australia
  • ETM professional control GmbH Austria
  • Siemens Aktiengesellschaft Österreich Austria
  • Siemens Transformers Austria GmbH and Co KG Austria
  • Siemens VAI Metals Technologies GmbH Austria
  • Trench Austria GmbH Austria
  • Siemens Gebäudemanagement and -Services G.m.b.H. Austria
  • Siemens W.L.L. Bahrain
  • Siemens Bangladesh Limited. Bangladesh
  • Siemens Healthcare Diagnostics SA Belgium
  • Siemens S.A./N.V. Belgium
  • Siemens Ltda. Brazil
  • Siemens EOOD Bulgaria
  • Siemens Hearing Instruments Inc. Canada
  • Trench Limited. Canada
  • Siemens Healthcare Diagnostics Manufacturing Limited, Cayman Islands
  • MWB (Shanghai) Company Limited, China
  • Siemens Electrical Apparatus Limited, China
  • Siemens Electrical Drives (Shanghai) Limited, China
  • Siemens Electrical Drives Limited, China
  • Siemens Factory Automation Engineering Limited, China
  • Siemens Healthcare Diagnostics (Shanghai) Company Limited, China
  • Siemens High Voltage Switchgear Company Limited, Shanghai China
  • Siemens International Trading Limited, Shanghai China
  • Siemens Limited, China China
  • Siemens Mechanical Drive Systems (Tianjin) Company Limited, China
  • Siemens Power Automation Limited. China
  • Siemens Shanghai Medical Equipment Limited, China
  • Siemens Shenzhen Magnetic Resonance Limited, China
  • Siemens Switchgear Company Limited China
  • Siemens Transformer (Guangzhou) Company Limited China
  • Siemens Transformer (Wuhan) Company Limited China
  • Siemens VAI Metals Technologies Company Limited, Shanghai China
  • Siemens Water Technologies Limited. China
  • Siemens Wiring Accessories Shandong Limited, China
  • Siemens X-Ray Vacuum Technology Limited, China
  • Trench High Voltage Products Limited, Shenyang China
  • Siemens Numerical Control Limited, China
  • Siemens Power Plant Automation Limited, China
  • Siemens Wind Power Blades (Shanghai) Company Limited, China
  • Siemens Circuit Protection Systems Limited, China
  • Siemens Medium Voltage Switching Technologies (Wuxi) Limited, China
  • Siemens S.A. Columbia
  • Koncar Power Transformers Limited, Croatia
  • Siemens, s.r.o. Czech Republic
  • Siemens Electric Machines s.r.o. Czech Republic
  • Siemens, s.r.o., odstepny zavod Industrial Turbomachinery Czech Republic
  • Siemens A/S Denmark
  • Siemens Wind Power A/S Denmark
  • Siemens S.A. Ecuador
  • Siemens Technologies S.A.E. Egypt
  • Siemens Osakeyhtiö Finnland
  • FLENDER-GRAFFENSTADEN SAS France
  • Siemens S.A.S. France
  • Siemens Transmission and Distribution SAS France
  • Siemens VAI Metals Technologies SAS France
  • Trench France S.A.S. France
  • Siemens SAS, Division Production Sensors and Communication, Usine de Haguenau France
  • Alpha Verteilertechnik GmbH Germany
  • evosoft GmbH Germany
  • LINCAS Export Services GmbH Germany
  • Siemens Bank GmbH Germany
  • Siemens Healthcare Diagnostics Holding GmbH Germany
  • Siemens Healthcare Diagnostics Products GmbH Germany
  • Trench Germany GmbH Germany
  • HSP Hochspannungsgeräte GmbH Germany
  • Siemens Beteiligungen Inland GmbH Germany
  • Loher GmbH Germany
  • Siemens Geared Motors GmbH Germany
  • Siemens Industrial Turbomachinery GmbH Germany
  • Siemens Industriegetriebe GmbH Germany
  • Siemens IT Solutions and Services GmbH Germany
  • Siemens Turbomachinery Equipment Germany
  • Siemens VAI Metals Technologies GmbH Germany
  • TLT-Turbo GmbH Germany
  • SYKATEC Systeme, Komponenten, Anwendungstechnologie GmbH Germany
  • Weiss Spindeltechnologie GmbH Germany
  • Electrium Sales Limited, Great Britain
  • Siemens Healthcare Diagnostics Manufacturing Limited, Great Britain
  • Siemens Healthcare Diagnostics Products Limited, Great Britain
  • Siemens Industrial Turbomachinery Limited, Great Britain
  • Siemens plc Great Britain
  • Siemens plc, Industry Sector, Metals Technologies Great Britain
  • Siemens Protection Devices Limited, Great Britain
  • Siemens Transmission and Distribution Limited, Great Britain
  • Siemens VAI Metals Technologies Limited, Great Britain
  • Siemens Magnet Technology Great Britain
  • Siemens Healthcare Diagnostics Limited, Hongkong
  • Siemens Limited Hongkong
  • eMeter India Private Limited, India
  • OSRAM Automotive Lamps Private Limited (erstwhile Compact Automative Lamp Private Limited) India
  • OSRAM India Private Limited India
  • PETNET Radiopharmaceutical Solutions Private Limited India
  • Powerplant Performance Improvement Limited India
  • Siemens Hearing Instruments Private Limited India
  • Siemens IT Solutions and Services (upto 1 July 2011) India
  • Siemens Power Engineering Private Limited India
  • Siemens Technology and Services Private Limited (STS) (erstwhile SISL) India
  • Siemens Corporate Finance Private Limited (merged with STS w.e.f.1 October 2011) India
  • Siemens Information Processing Services Private Limited (merged with STS w.e.f. 1 October 2011) India
  • Winergy Drive Systems India Private Limited India
  • Siemens Financial Services Private Limited India
  • Siemens Industry Software (India) Private Limited India
  • P.T. Siemens Indonesia Indonesia
  • PT. Siemens Industrial Power Indonesia
  • Europlex Technologies (Ireland) Limited Ireland
  • Siemens Medical Solutions Diagnostics Europe Limited Ireland
  • Siemens Concentrated Solar Power Limited Israel
  • Siemens Israel Limited Israel
  • Siemens S.p.A. Italy
  • Siemens VAI Metals Technologies S.r.l. Italy
  • Trench Italia S.r.l. Italy
  • Siemens Japan K.K. Japan
  • Siemens TOO Kazakhstan
  • Siemens Kenya Limited Kenya
  • Siemens Limited. Seoul Korea
  • Siemens Electrical and Electronic Services K.S.C.C. Kuwait
  • Siemens Malaysia Sdn. Bhd. Malaysia
  • Siemens, S.A. de C.V. Mexico
  • Siemens Plant Operations Tahaddart Morocco
  • Siemens Nederland N.V. Netherland
  • Siemens (N.Z.) Limited New Zealand
  • Siemens Limited Nigeria
  • Siemens AS Norway
  • Siemens L.L.C. Oman
  • Siemens S.A.C. Peru
  • Siemens, Inc. Philippines
  • Siemens Sp. z o.o. Poland
  • TurboCare Sp. z o.o. Poland
  • Siemens S.A. Portugal
  • Siemens W.L.L. Qatar
  • Siemens S.R.L. Romania
  • OOO Siemens Russian Federation
  • Arabia Electric Limited (Equipment) Saudi-Arabia
  • Siemens Limited Saudi-Arabia
  • Siemens Pte. Limited Singapore
  • Siemens Healthcare Diagnostics Pte. Limited. Singapore
  • Siemens IT Solutions and Services Operations Pte. Limited. Singapore
  • Siemens s.r.o. Slovakia
  • Siemens d.o.o. Slovenia
  • Siemens Limited South Africa
  • Siemens S.A. Spain
  • Siemens AB Sweden
  • Siemens Industrial Turbomachinery AB Sweden
  • Siemens, Security Products Sweden
  • Siemens Schweiz AG Switzerland
  • Siemens Schweiz AG, Building Technologies Division,
  • International Headquarters
  • Switzerland
  • Siemens Limited Taiwan
  • Siemens Tanzania Limited Tanzania
  • Siemens Limited Thailand
  • Siemens IT Solutions and Services Limited Thailand
  • Siemens S.A. Tunisia
  • Siemens Sanayi ve Ticaret A.S. Turkey
  • DP Siemens Ukraine Ukraine
  • SD (Middle East) LLC United Arab Emirates
  • Siemens LLC United Arab Emirates
  • S' Industry - WT USA
  • Siemens Demag Delaval Turbomachinery, Inc. USA
  • Siemens Energy, Inc. USA
  • Siemens Energy, Inc. (US) – Oil and Gas (PT2) USA
  • Siemens Energy, Inc. (US) - Transmission (PPR) USA
  • Siemens Healthcare Diagnostics Inc. USA
  • Siemens Industry, Inc. USA
  • Siemens Medical Solutions USA, Inc. USA
  • SMS Inc. - Customer Solutions Group USA
  • Siemens Corporation USA
  • Siemens S.A. Venezuela
  • Siemens Limited Vietnam

 

 

CAPITAL STRUCTURE

 

As on 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000000

Equity Shares

Rs.2/- each

Rs.2000.000 Millions

 

 

 

 

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

341159165

Equity Shares

Rs.2/- each

Rs.682.000 Millions

 

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

340295025

Equity Shares

Rs.2/- each

Rs.681.000 Millions

 

 

 

 

 

Shares held by Holding Company and subsidiary of Holding Company:

251,265,128 Equity Shares of Rs.2 each, fully paid-up, are held by the Holding Company, Siemens AG, Germany;

 

Nil Equity Shares of Rs.2 each, fully paid-up, are held by Siemens Diagnostics Holding II B.V., Netherlands, a 100% subsidiary of Siemens AG, Germany.

 

Reconciliation of the number of shares outstanding at the beginning and at the end of the year:

Particular

Number

Amount In Millions

Shares outstanding at the beginning of the year

340,294,900

681.000

Shares issued/subscribed during the year

125

*

Shares outstanding at the end of the Year

340,295,025

681.000

 

The paid up share capital of the Company increased consequent to the allotment of 125 equity shares to a member upon settlement of a disputed case.

 

* Denotes figures less than a million

 

Details of shareholders holding more than 5% shares in the company as on 30 September:

Name of shareholder

No. of shares held

% of Holding

Siemens Aktiengesellschaft, Germany and its subsidiary.

251,265,128

73.84%

Life Insurance Corporation of India

17,067,385

5.02%

 

As per of the company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

 

Details of aggregate number of shares issued for consideration other than cash and bonus shares issued during the period of five years immediately preceding 30 September:

 

Equity shares alloted as

31.03.2012

Fully paid up to the shareholders of Siemens Healthcare Diagnostics Limited In accordance with the scheme of amalgamation

3,134,700

Fully paid up by way of bonus shares

168,580,100

 

Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs.2 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees.

 

During the year ended 30 September 2012, the amount of per share dividend recognised for distribution to equity shareholders was Rs.6

 

In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts (if any). The distribution will be in proportion to the number of equity shares held by the shareholders.

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

30.09.2012

30.09.2011

30.09.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

681.000

681.000

674.320

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

38922.000

37481.000

34103.468

4] (Accumulated Losses)

0.000

0.000

0.000

5] Share capital suspense account

23.000

0.000

0.000

NETWORTH

39626.000

38162.000

34777.788

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

0.000

2.410

TOTAL BORROWING

0.000

0.000

2.410

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

39626.000

38162.000

34780.198

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

14122.000

11291.000

7339.937

Capital work-in-progress

850.000

2195.000

2465.158

 

 

 

 

INVESTMENT

410.000

405.000

3884.606

DEFERREX TAX ASSETS

3176.000

1889.000

1313.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
9431.000

8078.000
15335.216

 

Sundry Debtors
39124.000

36288.000
33023.441

 

Cash & Bank Balances
9768.000

12750.000
18534.430

 

Other Current Assets
10762.000

9658.000
0.000

 

Other Non-Current Assets
7773.000

5471.000

0.000

 

Loans & Advances
11031.000

13708.000
12448.994

Total Current Assets
87889.000

85953.000

79342.081

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
26542.000

22573.000
29188.600

 

Other Current Liabilities
23127.000

22959.000
14703.662

 

Provisions
17152.000

18039.000
15672.322

Total Current Liabilities
66821.000

63571.000

59564.584

Net Current Assets
21068.000

22382.000
19777.497

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

39626.000

38162.000

34780.198

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

30.09.2012

30.09.2011

30.09.2010

 

SALES

 

 

 

 

 

Income

129199.000

120289.000

92706.690

 

 

Commission Income

0.000

0.000

445.715

 

 

Interest Income

0.000

0.000

776.085

 

 

Other Operating Income

0.000

0.000

848.315

 

 

Other Income

575.000

1047.000

0.000

 

 

TOTAL                                     (A)

129774.000

121336.000

94776.805

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Raw materials consumed

25984.000

20965.000

 

 

Purchase of traded goods

24398.000

23612.000

 

 

 

(Increase) / decrease in inventories of finished goods, work-in-progress

and traded goods

(1014.000)

(823.000)

 

 

 

Project bought outs and other direct costs

49110.000

46046.000

81068.654

 

 

Employee benefits expense

11959.000

9174.000

 

 

 

Other expenses

9849.000

7964.000

 

 

 

Exceptional item

1200.000

0.000

 

 

 

Prior period items

799.000

0.000

 

 

 

TOTAL                                     (B)

122285.000

106938.000

81068.654

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

7489.000

14398.000

13708.151

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

270.000

127.000

105.876

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

7219.000

14271.000

13602.275

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

2010.000

1522.000

1014.796

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

5209.000

12749.000

12587.479

 

 

 

 

 

Less

TAX                                                                  (H)

1777.000

4295.000

4315.364

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

3432.000

8454.000

8272.115

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

4771.000

0.000

745.688

 

 

 

 

 

 

Balance of Profit and Loss account brought forward due to the amalgamation of Companies

705.000

(110.000)

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

343.000

1200.000

7052.012

 

 

Dividend

2112.000

2042.000

1685.801

 

 

Tax on Dividend

343.000

331.000

279.990

 

BALANCE CARRIED TO THE B/S

6110.000

4771.000

0.000

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Exports of goods Direct on FOB basis

3283.000

3733.000

1996.012

 

 

Project Business (Based on Actual Billing)

14067.000

21647.000

13458.842

 

 

Commission

326.000

483.000

445.715

 

 

Service charges and others

1141.000

471.000

116.336

 

TOTAL EARNINGS

18817.000

26334.000

16016.905

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw materials, components, spare parts and traded goods

39859.000

34870.000

33960.321

 

 

Capital Goods

1031.000

927.000

888.961

 

TOTAL IMPORTS

40890.000

35797.000

34849.282

 

 

 

 

 

 

Earnings Per Share (Rs.)

9.75

24.95

24.53

 

KEY RATIOS

 

PARTICULARS

 

 

30.09.2012

30.09.2011

30.09.2010

PAT / Total Income

(%)
2.64

6.97
8.73

 

 
 

 
 

Net Profit Margin

(PBT/Sales)

(%)
4.03

10.60
13.58

 

 
 

 
 

Return on Total Assets

(PBT/Total Assets}

(%)
5.11

13.11
14.30

 

 
 

 
 

Return on Investment (ROI)

(PBT/Networth)

 
0.13

0.33
0.36

 

 
 

 
 

Debt Equity Ratio

(Total Liability/Networth)

 
1.69

1.67
1.71

 

 
 

 
 

Current Ratio

(Current Asset/Current Liability)

 
1.32

1.35
1.33

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

No

10]

Designation of contact person

No

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

----------------------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

----------------------

22]

Litigations that the firm / promoter involved in

----------------------

23]

Banking Details

Yes

24]

Banking facility details

No

25]

Conduct of the banking account

----------------------

26]

Buyer visit details

----------------------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

No

31]

Date of Birth of Proprietor/Partner/Director, if available

No

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

OPERATIONS

 

The Turnover of the Company increased by approximately 7% and stood at Rs.129199.000 millions as compared to Rs.120289.000 millions in the previous year. The Company’s Profit from Operations for the year ended 30th September, 2012 was Rs.6903.000 millions as compared to Rs.11829.000 millions in the corresponding period of the previous year.

 

The Profit after Tax was Rs.3432.000 millions, compared to Rs.8454.000 millions during 2010-11.

 

 

AMALGAMATIONS

 

a. Amalgamation of Siemens VAI Metals Technologies Private Limited (SVAI) and Morgan Construction Company India Private Limited.

 

The Hon’ble High Court of Bombay vide its order dated 17th August, 2012 sanctioned the ‘Scheme of Amalgamation’ of SVAI and Morgan with the Company. Key details of the said amalgamation are summarised as follows:

 

Appointed Date

1st October, 2011

Effective Date

1st October, 2012

Share Exchange Ratio

1318 Equity Shares of Rs.2 of the Company for every 100 Equity Shares of Rs.100 each of SVAI

Equity Shares issued

11,738,108 to Siemens VAI Metals Technologies GmbH

Date of Allotment of new shares

13th October, 2012

 

The aforesaid 11,738,108 Equity shares were not allotted by 30th September, 2012, therefore an amount of Rs.23.000 milions is shown in Share Capital Suspense Account in the Balance Sheet. The new equity shares rank pari pasu with the existing equity shares of the Company and shall be entitled for full amount of dividend for the year ended 30th September, 2012, if declared by the Members at the forthcoming Annual General Meeting. The said equity shares have been listed on BSE Limited and National Stock Exchange of India Limited.

 

 

b. Amalgamation of Siemens Power Engineering Private Limited (SPEL)

 

At the meeting held on 31st January, 2012 the Board of Directors approved the proposal for the amalgamation of SPEL (a 100% Siemens AG Company) with the Company. The “Appointed Date” was fixed as 1st October, 2011. The Board has recommended a share exchange ratio of 6 (Six) equity shares of the Company having Face Value of Rs.2 (Rupees Two) each fully paid- up for every 13 (Thirteen) equity shares of SPEL having Face Value of Rs.10 (Rupees Ten) each fully paid-up. The amalgamation was approved by the Members in the Court Convened Meeting held on 11th April, 2012. The High Court of Bombay vide its order dated 2nd November, 2012 approved the amalgamation however the order from the High Court of Punjab and Haryana is still awaited.

 

SPEL is engaged in providing technical services relating mainly to power plant business.

 

c. Amalgamation of Winergy Drive Systems India Private Limited (Winergy)

At the meeting held on 10th August, 2012, the Board of Directors approved the proposal for the amalgamation of Winergy (a 100% Siemens AG Company) with the Company. The “Appointed Date” was fixed as 1st October, 2012. The Board has recommended a share exchange ratio of 1 (One) equity share of the Company having Face Value of Rs.2 (Rupees Two) each fully paid- up for every 72 (Seventy Two) equity shares of Winergy having Face Value of Rs.10 (Rupees Ten) each fully paid-up. The amalgamation is subject to all necessary statutory / regulatory approvals, including approvals of the Members and the High Courts.

 

Winergy is engaged in business of manufacturing / assembly of wind mill gearboxes, high speed gearboxes, drive application gearboxes, standard geared motors and in designing and engineering services.

 

 

MANAGEMENT’S DISCUSSION AND ANALYSIS

 

GENERAL PERFORMANCE REVIEW

 

The slowdown in India’s domestic economy that began in the previous year extended into financial year 2011-12. While the cumulative growth rate of index of industrial production (IIP) fell to 0.52% in financial year 2011-12 from 6.67% in financial year 2010-11, GDP growth remained stagnant at 6.5% as of September 30, 2012 compared with 7.5% as of September 30, 2011.

 

According to the Centre for Monitoring Indian Economy (CMIE), new investment announcements for the quarter ended September 30, 2012 were at Rs.584940.000 Millions, the lowest in 33 quarters. Though the CMIE expects new investment announcements to pick up in the coming quarters, it may not reach the levels seen two to three years ago because many large industries already have huge capacity expansions in the pipeline.

 

Investor and business confidence was low due to the prolonged global economic crisis as well as the government’s inability to gain consensus from coalition partners, which delayed legislation on various fiscal and market reforms. Delays in decision-making led to stalled infrastructure projects and issues related to environmental clearances, land acquisition, and the supply of fuel and raw materials, and the Reserve Bank of India’s continued focus on reducing inflation at the cost of economic growth affected investments in new projects. As with most other industries in India, subject Businesses across its four Sectors were impacted due to these factors.

 

New orders fell to Rs.102351.000 Millions in financial year 2011-12, down by 17% from Rs.122887.000 Millions in financial year 2010-11. Sales were up by 8% to Rs.127081.000 Millions, compared with Rs.118183.000 Millions in financial year 2010-11, while profits after taxes (PAT) were down by 59% at Rs.3432.000 Millions compared with Rs.8454.000 Millions in financial year 2010-11.

 

During the fourth quarter of the financial year 2011-12, the Company reviewed the plans for the wind energy business and its localisation activities. Wind energy solutions will be developed on a case-to-case basis for the Indian market by leveraging existing global Siemens AG manufacturing capacities. Hence, an exceptional item for an impairment estimated at Rs 1200.000 Millions was booked in the fourth quarter.

 

 

OUTLOOK FOR SUBJECT

 

Modern and future-ready infrastructure has been recognized as a key driver of India’s economic growth. Subject is present in all the areas that contribute to infrastructure. The Company has solutions for the entire energy matrix (generation, transmission, and distribution), intra-city and inter-city mobility, industrial plants, green buildings, and hospitals. In addition, the Company’s focus on localization has helped to position itself as a technology provider of choice for building India’s infrastructure. The Company also has the added advantage of bundling the financing solutions offered by Siemens Financial Services Private Limited. (SFSPL), a nonbanking finance company and a wholly-owned subsidiary of Siemens AG. SFSPL’s offerings such as loans, leasing, and other financial products are used to finance equipment purchases by customers of subject.

 

The government’s recently-announced measures to allow higher foreign direct investments in sectors such as aviation, multi-brand retail, insurance, and media have sent encouraging signals. The founding of the National Investment Board is also a positive sign.

 

In light of the above developments, the company expects profitable and sustainable growth in the future.

 

 

 

 

CONTINGENT LIABILITIES

Rs. In Millions

Particular

30.09.2012

30.09.2011

Income tax (excluding interest)

159

158

Excise / sales tax liabilities, under dispute

1,804

958

Customs liabilities, under dispute

120

120

Claims against the company not acknowledged as debts

149

143

 

FIXED ASSETS:

 

Intangible Assets:

 

  • Goodwill
  • Technical Know-how

 

Tangible Assets:

 

  • Land
  • Building
  • Plant and Machinery
  • Furniture Fittings and Office Equipments
  • Vehicles

 

 

AS PER WEBSITE

 

PROFILE

 

The Siemens Group in India has emerged as a leading inventor, innovator and implementer of leading-edge technology enabled solutions operating in the core business segments of Industry, Energy, Healthcare and Infrastructure and Cities. The Group’s business is represented by various companies that span across these various segments.

 

Siemens brings to India state-of-the-art technology that adds value to customers through a combination of multiple high-end technologies for complete solutions. The Group has the competence and capability to integrate all products, systems and services. It caters to Industry needs across market segments by undertaking complete projects such as Hospitals, Airports and Industrial units.

 

The Siemens Group in India comprises of 17 companies, providing direct employment to over 18,000 persons. Currently, the group has 21 manufacturing plants, a wide network of Sales and Service offices across the country as well as over 500 channel partners.

 

Today, Siemens, with its world-class solutions plays a key role in India’s quest for developing modern infrastructure.

 

 

PRESS RELEASE

 

SIEMENS LIMITED ANNOUNCES Q1 2013 RESULTS; PROFIT AFTER TAX UP BY 21%

 

Mumbai, 2013-Jan-31

 

For the first quarter of Financial Year 2013 ended December 31, 2012, Siemens Limited registered Profit after Tax (PAT) of Rs.730.700 Millions, up by 21% over PAT of Rs. 602.000 Millions in Q1 2012.

 

Sales for Q1 2013 was flat at Rs. 24509.000 Millions against Rs.24709.000 Millions for Q1 2012, while New Orders for the quarter were Rs.19935.000 Millions, down by 31% over the same period last year.

 

Dr. Armin Bruck, Managing Director, Siemens Limited said, “Given the continuing difficult macro-economic conditions in India, our first quarter results show a solid performance, with steady sales and good improvement in the bottom line. Nevertheless, customer liquidity issues, delays in infrastructure projects commencement and the decline in our order books remain an area of concern to us.”

 

The Company completed the amalgamation of Siemens Power Engineering Private Limited a 100% subsidiary of Siemens AG, during the quarter.

 

 

SIEMENS LIMITED RESULTS FOR FY 2012 IMPACTED BY SLOWDOWN IN THE ECONOMY

 

Mumbai, 2012-Nov-23

 

Siemens Limited declared its results for the financial year 2012 today. The Company registered Sales of Rs. 127081.000 Millions, a rise of 8% over Sales of Rs.118183.000 Millions in FY 2011. Profit before Tax, before exceptional items and prior-period items, were down by 43% compared to the preceding year.

 

For the fourth quarter ended September 30, 2012, Siemens Limited registered Sales of Rs.32694.000 Millions, down by 6% over the same period last year, while recording a profit of Rs.496.000 Millions before tax and before exceptional and prior-period items of Rs.1208.000 Millions.

 

During the quarter, the Company reviewed the plans for the wind energy business and its localization activities. Wind energy solutions will be developed on a case-to-case basis for the Indian market by leveraging existing global Siemens AG manufacturing capacities. Hence, an exceptional item for an impairment estimated at Rs.1200.000 Millions was booked in the quarter.

 

Dr. Armin Bruck, Managing Director, Siemens Limited, said, "Our overall results reflect the slowdown in the Indian economy. Higher project costs and unbooked profits due to customers delaying offtake partly affected the company’s profitability. The performance is below our own expectations. An improvement in the economy aided by quicker government approvals for infrastructure projects in sectors such as power and railways would positively impact our outlook."

 

In spite of the reduced profitability and considering the exceptional items debited during the year, the Board of Directors of the Company has approved a dividend of 300% (Rs. 6/- per share), which amounts to a payout of 45% before exceptional items for the financial year ended September 30, 2012.

 

About Siemens Limited:

Siemens Limited, in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India including Siemens Limited comprises 12 legal entities, is a leading powerhouse in electronics and electrical engineering with a business volume aggregating about Rs.120000.000 Millions. It operates in the core business areas of Industry, Infrastructure and Cities, Energy and Healthcare. It has a nation-wide sales and service network, 23 manufacturing plants and employs about 19,000 people.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.26

UK Pound

1

Rs.81.94

Euro

1

Rs.70.21

 

 

INFORMATION DETAILS

 

Report Prepared by :

NTH

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

9

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILIRY

1~10

9

--LIQUIDITY

1~10

9

--LEVERAGE

1~10

8

--RESERVES

1~10

9

--CREDIT LINES

1~10

9

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

78

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

-

NB

                                       New Business

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.