|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ANCHOR ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
ANCHOR ELECTRICALS LIMITED |
|
|
|
|
Registered
Office : |
Steel House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper
Box, Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
02.04.1981 |
|
|
|
|
Com. Reg. No.: |
11-128292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4375.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH1981FTC128292 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMA18689G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA2190C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Marketing of electrical switches and accessories, wires, luminaries and fans |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 41000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Panasonic Electric Works Company Limited”.
It is a well established and reputed company having good track record.
Financially company seems to be strong. Liquidity position is good.
There appears no external borrowing. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION DECLINED
Management Non-Cooperative (91-22-30418888)
LOCATIONS
|
Registered Office : |
Steel House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper Box,
Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30418888 |
|
Fax No.: |
91-22-30418887/ 30418886 |
|
E-Mail : |
jitendra.gandhi@anchor-world.com
dinesh.aggarwal@anchor-world.com |
|
Website : |
|
|
|
|
|
State Offices : |
Located At: ·
Punjab ·
Rajasthan ·
Himachal Pradesh ·
Uttarakhand ·
Haryana ·
Jammu and Kashmir ·
Delhi ·
Uttar Pradesh ·
Goa ·
Chhattisgarh ·
Maharashtra ·
Gujarat ·
Orissa ·
Assam ·
West Bengal ·
Bihar ·
Jharkhand ·
Karnataka ·
Tamilnadu ·
Kerala ·
Andhra Pradesh |
|
|
|
|
Sales Offices : |
Located At: ·
Udaipur ·
·
Kota ·
Uttarakhand ·
Varanasi ·
Ghaziabad ·
Kanpur ·
Pune ·
Mangalore ·
Hubli |
|
|
|
|
Branch Offices : |
Located At: · Ahmedabad · Kolkata · Bengaluru · Mumbai · Chennai · New Delhi · Gurgaon · Hyderabad · Pune · Indore |
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|
|
|
Regional Office : |
Located At:
|
DIRECTORS
As on 19.05.2012
|
Name : |
Harumasa Furutani |
|
Designation : |
Managing Director |
|
Address : |
Apartment No.418, Marriott Executive Apartments, 2 and 2 B, Near Chinmayanand Ashram, Powai, Mumbai – 400087, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1959 |
|
Date of Appointment : |
21.05.2011 |
|
Din No : |
03528760 |
|
|
|
|
Name : |
Tetsuya Kimoto |
|
Designation : |
Vice Chairman and Director – Technical Innovation |
|
Address : |
Apartment No.418, Marriott Executive Apartments, 2 and 2B, Near Chinmayanand Ashram, Powai, Mumbai – 400087, Maharashtra, India |
|
Date of Birth/Age : |
20.08.1954 |
|
Date of Appointment : |
01.01.2012 |
|
Din No : |
05148064 |
|
|
|
|
Name : |
Mr. Dinesh Vishwanath Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
A 404 A Wing Rainbow 4th Floor Raheja Vihar
Near, Chandivali Studio Powai, Mumbai – 400072, |
|
Date of Birth/Age : |
10.11.1964 |
|
Date of Appointment : |
26.03.2010 |
|
Din No : |
03006235 |
|
|
|
|
Name : |
Kiyoshi Kazuyoshi Otaki |
|
Designation : |
Director – Manufacturing and ES Business |
|
Address : |
S-520, Shivalik Nagar, Haridwar – 249403, Uttranchal, India |
|
Date of Birth/Age : |
18.10.1962 |
|
Date of Appointment : |
01.08.2010 (Re-appointment on 21.05.2011 |
|
Din No : |
03155206 |
|
|
|
|
Name : |
Toshiaki Matsuda |
|
Designation : |
Whole Time director |
|
Address : |
Apartment No.320, Marriott Executive Apartment, 2 and 3 B, Near Chinmayanand Ashram, Powai, Mumbai – 400087, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1959 |
|
Date of Appointment : |
01.09.2012 |
|
Din No : |
05142403 |
|
|
|
|
Name : |
Akinobu Minagawa |
|
Designation : |
Director |
|
Address : |
706 Yurikafuchu, 1-18-10, Harumi Cho, Fuchu Shi, Tokyo, Japan |
|
Date of Birth/Age : |
06.02.1956 |
|
Date of Appointment : |
01.01.2012 |
|
Din No : |
05149369 |
|
|
|
|
Name : |
Shuji Okayama |
|
Designation : |
Director |
|
Address : |
4-10-18-107, Hon Machi, Toyonaka Shi, Osak Fu – 5600021 Japan |
|
Date of Birth/Age : |
30.10.1958 |
|
Date of Appointment : |
02.12.2010 |
|
Din No : |
03377229 |
|
|
|
|
Name : |
Yutaka Yamada |
|
Designation : |
Director – Purchases and Fan Business |
|
Address : |
R. O. H. No.702, DMC No.11-241-B-7th, 2 Iddhi Vinayak Tower, Wing B, Devka Road, Kathiria Nani Daman – 396210, Daman and Diu |
|
Date of Birth/Age : |
11.05.1956 |
|
Date of Appointment : |
19.05.2012 |
|
Din No : |
05259895 |
|
|
|
|
Name : |
Mr. Takaki Qguri |
|
Designation : |
Managing Director |
|
Address : |
Flat No.2901, Marathon Nextgen ERA – II, G. K. Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1962 |
|
Date of Appointment : |
01.04.2013 |
|
Din No : |
01450431 |
|
Name : |
Yoshiyuki Kato |
|
Designation : |
Whole-Time Director |
|
Address : |
1-22 Yamada Nishi, Suita, Osaka – 5650824 |
|
Date of Birth/Age : |
17.10.1967 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
06521571 |
|
|
|
|
Name : |
Toshio Omori |
|
Designation : |
Whole-Time Director |
|
Address : |
4131, Nishihinocho Yokkaichi, Mie – 5108601 |
|
Date of Birth/Age : |
27.03.1968 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
06522835 |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Dharamshey Gandhi |
|
Designation : |
Company Secretary |
|
Address : |
A/3, Crystal Colony, M.M Chottani Road, Mahim (West), Mumbai- 400016,
Maharashtra, India |
|
Date of Birth/Age : |
26.08.1969 |
|
Date of Appointment : |
01.04.2007 |
|
Pan No: |
ACJPG3815C |
|
Voter ID No.: |
MT/06/034/150349 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.05.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Panasonic Corporation (Earlier held by Panasonic Electric Works Company Limited now merged into Panasonic Corporation w.e.f. 01.01.2012 due to merger between Panasonic Electric Works Company Limited into Panasonic Corporation), Japan |
|
11854499 |
|
Panasonic Eco Solutions Switchgear Device Company Limited (Name
changed from Panasonic Electric Works Company Limited), Japan |
|
1 |
|
Total |
|
11854500 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
Panasonic Corporation (Earlier held by Panasonic Electric Works Company Limited now merged into Panasonic Corporation w.e.f. 01.01.2012 due to merger between Panasonic Electric Works Company Limited into Panasonic Corporation), Japan |
|
425670000 |
|
Total |
|
425670000 |
As on 24.05.2012
|
Names of Allottee (Equity Shares) |
|
No. of Shares
Allotted |
|
Panasonic Corporation, Japan |
|
3288888 |
|
Total |
|
3288888 |
As on 19.05.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketing of electrical switches and
accessories, wires, luminaries and fans |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual Production** |
|
|
|
|
|
Electrical Goods |
Nos. |
357758769 |
NOTES:
* Having regards to the large variety
of products, the company deals in, it is impracticable to compute the
capacities.
** The company is engaged in the business of electrical goods comprising all types of switches, accessories, wires, cables, luminaries, fans, meters, and circuit breakers. Quantitative disclosures are made on a consolidated basis and include products of dissimilar units of measurement.
GENERAL INFORMATION
|
Customers : |
· Mahindra Life Spaces · TATA Housing · Kotak Mahindra Bank · Shoppers Stop · YES Bank · ONGC · Godrej Properties · Reliance Industries · Future Group · SBI · JET AIRWAYS · L and T Ecc · Adani Infrastructure ·
Axis Bank |
|
|
|
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Bank of India, Malad (West) Branch, Bank of India
Building, S.V Road, Malad (West), Mumbai- 400064, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Ultimate Holding
Company : |
Panasonic Corporation Limited |
|
|
|
|
Holding Company : |
Panasonic Electric Works Company Limited |
|
|
|
|
Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
After 19.05.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000000 |
Equity Shares |
Rs.10/- each |
Rs.45000.000
Millions |
|
500000000 |
7% Non cumulative, non convertible Redeemable Preference Shares |
Rs.10/- each |
Rs.5000.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15143388 |
Equity Shares |
Rs.10/- each |
Rs.151.434
Millions |
|
425670000 |
7% Non cumulative, non convertible Redeemable Preference Shares |
Rs.10/- each |
Rs.4256.700
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4408.134 Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000000 |
Equity Shares |
Rs.10/- each |
Rs.45000.000
Millions |
|
500000000 |
7% Non cumulative, non convertible Redeemable Preference Shares |
Rs.10/- each |
Rs.5000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11850000 |
Equity Shares |
Rs.10/- each |
Rs.118.500
Millions |
|
425670000 |
7% Non cumulative, non convertible Redeemable Preference Shares |
Rs.10/- each |
Rs.4256.700
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4375.200 Millions |
(a) Terms / rights attached to equity shares
The company has only one class of equity shares having par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
(b) Terms of redemption of preference shares
Preference shares are redeemable at par on or after July 23, 2010 i.e. on or after 39 months from the date of allotment. In the event of liquidation of the company before redemption of preference shares, the holders of preference shares will have priority over equity shares in the payment of dividend and repayment of capital.
Disclosure of shareholding
more than five per cent in company
|
Name of shareholder
|
Number of shares held in company |
Percentage of shareholding in company |
|
(Equity shares) |
|
|
|
Panasonic Electric Works Company Limited |
11850000 |
99.99% |
|
|
|
|
|
(Preference shares) |
|
|
|
Panasonic Electric Works Company Limited |
425670000 |
100.00% |
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 |
4375.200 |
4375.200 |
4375.245 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6015.600 |
4882.700 |
3931.998 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10390.800 |
9257.900 |
8307.243 |
|
|
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 |
10390.800 |
9257.900 |
8307.243 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2709.100 |
2564.600 |
1795.885 |
|
|
Capital work-in-progress |
1278.600 |
503.200 |
392.641 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.048 |
|
|
DEFERREX TAX ASSETS |
210.200 |
142.900 |
86.714 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1956.500
|
1945.900 |
1927.444
|
|
|
Sundry Debtors |
3869.800
|
3541.800 |
2383.589
|
|
|
Cash & Bank Balances |
1966.300
|
2110.300 |
3018.834
|
|
|
Other Current Assets |
176.300
|
218.800 |
93.391
|
|
|
Loans & Advances |
1267.200
|
1103.300 |
1130.891
|
|
Total
Current Assets |
9236.100
|
8920.100 |
8554.149 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
728.700
|
829.100 |
773.014
|
|
|
Other Current Liabilities |
1640.200
|
1394.700 |
1234.766
|
|
|
Provisions |
674.300
|
649.100 |
514.414
|
|
Total
Current Liabilities |
3043.200
|
2872.900 |
2522.194 |
|
|
Net Current Assets |
6192.900
|
6047.200 |
6031.955 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10390.800 |
9257.900 |
8307.243 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13176.400 |
10814.200 |
8630.452 |
|
|
|
Other Income |
367.200 |
244.700 |
313.424 |
|
|
|
TOTAL (A) |
13543.600 |
11058.900 |
8943.876 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Variable cost |
6997.100 |
5723.300 |
4473.683 |
|
|
|
Operating and other expenses |
4150.500 |
3303.200 |
2745.411 |
|
|
|
TOTAL (B) |
11147.600 |
9026.500 |
7219.094 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
239.600 |
2032.400 |
1724.782 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
36.100 |
20.800 |
18.126 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2359.900 |
2011.600 |
1706.656 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
560.000 |
456.900 |
368.583 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1799.900 |
1554.700 |
1338.073 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
320.700 |
257.700 |
(22.415) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1479.200 |
1297.000 |
1360.488 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4833.195 |
3882.495 |
2869.465 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
298.000 |
298.000 |
297.969 |
|
|
|
Tax on Dividend |
48.300 |
48.300 |
49.489 |
|
|
BALANCE CARRIED
TO THE B/S |
5966.095 |
4833.195 |
3882.495 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
NA |
NA |
39.136 |
|
|
TOTAL EARNINGS |
NA |
NA |
39.136 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
79.994 |
|
|
|
Capital Goods |
NA |
NA |
193.709 |
|
|
|
Others |
NA |
NA |
102.183 |
|
|
TOTAL IMPORTS |
NA |
NA |
375.886 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.38 |
2.96 |
85.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
10.92
|
11.73 |
15.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.66
|
14.38 |
15.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.07
|
13.54 |
0.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.17 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.03
|
3.10 |
3.39 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
728.700 |
829.100 |
773.014 |
|
Total |
728.700 |
829.100 |
773.014 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 Office of the company has been shifted from Unit No. 101,
Innova C, Marathon Nextgen, Ganpatrao Kakam Marg, Lower Parel (West), Mumbai -
400013, Maharashtra, India to the present address w.e.f.10.08.2009.
CORPORATE REVIEW
i) Wiring Devices
Division :
During the year Wiring Devices division took all efforts for Product Improvement in form of Quality assurance, Capacity Expansion by introducting new mould, Activities like cost reduction and trouble shooting methods, Focus on energy saving and safety security function etc.
New Factory Building at Daman started Commercial Production in May, 2012
During the year new products such as Roma Allure and Panasonic Vision were launched.
ii) Cable and Wire
Division :
During the financial year to improve productivity and quality of the products. The Company tried to optimize the production facility to reduce the overall cost per coil in case of wire and cables. Other highlights during the year:
1. Main product, building wire continued to enjoy 'CE' which is a highest safety marking from TUV.
2. Single core and multi-core products also continued to enjoy 'IEC' marking during the year from TUV.
3. Better control of power consumption resulted in reduction of KWH per Kg of copper throughput.
4. Higher efficiency resulting in higher number of coils manufactured per person.
5. Better work environment and awareness of safety standards for all the workmen.
6. Controlled total copper stock to reduce the impact of copper rate fluctuations on profitability.
7. Introduced new lead free compound in line with the eco-friendly policy of the company.
8. Controlled copper consumption while adhering to the BIS norms.
iii) Lamps and
Lighting Division :
Company’s Activities during the year were as follows:
CFL:
Manufacturing capacity increased to 27 million Pcs annually by new investment in CFL Spiral type chain to achieve 10% market share in retrofit type CFL.
High Lumen (850 lm) in 15W 2U CFL achieved. ( Higher in the industry similar product).
Fixtures:
a) In-house manufacturing of luminaries established at Roorkee factory for better Quality, Cost and Delivery.
b) R and D Department and Product planning department established to strengthen the business.
c) Panasonic Product (LED and CFL based down lighter) procured.
Company’s Plan for 2012 are as follows:
CFL:
a) T2 Spiral CFLs will be developed. (5W, 8W and 12W)
b) In-house production of T3 Spiral CFLs will start from Q2/2012 onwards.
c) Design up gradation in CFL PCB circuit for Low Voltage Survival.
d) Cost reduction through ITAKONA activity.
Fixtures:
a) In-house assembly of Luminaires will start from April?12 onwards for better QCD.
b) New Consumer Luminaires Range 'Ferris' will be launched in Sep?2012.
c) New Models developments will be developed along with up gradation of existing Luminaires.
d)Panasonic Lighting Products will be launched.
iv) Fan Division:
During the year the Company’s Fan Division was shifted from Bhimpore, Daman to Dhamdachi to take advantage of bigger land area and increased space for manufacturing operations and employee welfare.
· Initiated Cost Reduction programs where the Company achieved Rs. 5 million cost reduction.
· Initiated Emergency evacuation procedures and carried out safety drills. Implemented safety kits and equipment training carried out.
v) MCB :
During the year the sale increased by 134% and this was achieved due to:
-Launch of Panasonic brand MCB.
- Research andDevelopment department
The Company expects to Increase its Production Capacity.
For next Financial Year:
Production Capacity to be increased by 18% (10.4 Million Pcs to 12.3 Million Pcs) as per business plan.
The Company is in the process of acquiring Firepro Systems Private Limited, Bangalore whose main business is Fire Extinguisher Dealers, Security System Dealers, Fire Alarm Dealers, Security Services etc.
PERFORMANCE OF THE
COMPANY
The Company has during the year achieved a net sales of Rs.13176.400 Millions against a net sales of Rs.10814.200 Millions for the previous accounting year ended 31st March, 2011. The Company has reported a net profit of Rs.1479.200 Millions against a net profit of Rs.1297.000 Millions in the last year. The Company witnessed good growth in profit for the year on account of increase in business activity.
Fixed assets:
TANGIBLE ASSETS:
INTANGIBLE ASSETS:
AS PER WEBSITE
PRESS RELEASE
SHAHS OF ANCHOR GROUP
ARRESTED FOR RS 260.000 MILLIONS FRAUD
February 26,
2013
Mumbai : Stealing information can be as big a crime as stealing money. And so is starting a venture with stolen information. Six men learnt this the hard way when the Economic Offences Wing of the Mumbai police arrested them for being part of a fraud amounting to Rs 260.000 Millions.
Three of them had stolen client data (and also allegedly diverted funds) from their employer, Art Advertising and Marketing Limited. The other three had funded the new advertising firm (Red C advertising) that used the stolen client data.
While the three employees were arrested in September 2011 and are out on bail, the three businessmen, who had allegedly funded the new venture, were arrested on Friday after their bail plea was rejected by the Sessions Court.
The three businessmen — Sanjay Shah, Mehul Shah and Atul Shah — are directors of the Anchor Group of companies (which does not include Anchor Electrical Private Limited). Mehul Shah is also one of the co-owners of the erstwhile IPL franchise Kochi Tuskers. The trio was remanded to police custody till Tuesday.
“The investigation is still underway and we need the custody of the trio in order to complete the probe”, additional commissioner Rajwardhan Sinha of the Economic Offences Wing said on Monday.
Indur Chaudhary, owner, Art Advertising and Marketing Private Limited, and father of actor Ashish Chaudhary, had alleged that the Shahs of the Anchor Group had cheated him of Rs 260.000 Millions. Chaudhary had complained to the EOW that three of his former employees, Prakash Goplani, Colin Misquitta and Zubin Contractor, stole client data from his firm and also diverted funds.
Chaudhary had also alleged that his former employees had signed an MoU to compensate him for the losses and had accepted that they had breached trust. However, they later refused to honour the commitment.
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.54.63 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
67 |
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.