MIRA
INFORM REPORT
|
Report Date : |
29.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
CROMPTON GREAVES LIMITED |
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Registered
Office : |
6th
Floor, C.G. House, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.04.1937 |
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Com. Reg. No.: |
11-002641 |
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Capital
Investment / Paid-up Capital : |
Rs.1283.000 Millions |
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CIN No.: [Company Identification
No.] |
L99999MH1937PLC002641 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMCO5628A |
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PAN No.: [Permanent Account No.] |
AAACC3840K |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing and Marketing of transformers, switchgears, turn-key projects,
capacitors, electric motors - fractional horse power motors, LT motors,
alternators, HT motors, DC machines, rail transportation, fans, luminaries,
light sources, telephone instruments, telecommunication switching,
transmission and access products, EPABX systems and agricultural and domestic
pumps, etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (77) |
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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 |
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Maximum Credit Limit : |
USD 122270000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a part of Thapar Group – a well established industrial
house. It is a well established company having fine track record. It is a pioneering leader in the management and application of
electrical energy with a presence in over 10 countries. It is amongst the
world’s top- ten transformer manufacturers. There appears a slight dip in the profits during 2013. Financial
position of the company appears to be sound. Directors are reported to be
well experienced, respectable and resourceful industrialists. Trade relations are reported as praiseworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long term Rating AA |
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Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
1 July, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
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Registered Office : |
6th
Floor, C.G. House, Dr. Annie Besant Road, Worli, Mumbai – 400030,
Maharashtra, India |
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Tel. No.: |
91-22-24237777 |
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Fax No.: |
91-22-24237733 |
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E-Mail : |
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Website : |
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Plant
Locations : |
POWER SYSTEMS
Kanjur, Bhandup,
Mumbai – 400042, Tel. No. 91-22-25782451 Fax No. 91-22-25783271/ 25783216 E-Mail. : vmasson@tone.cgl.co.in A/3, MIDC Area,
Ambad, Nashik – 422010, Maharashtra, India Tel. No. 91-253-2382271/ 2382275 Fax No. 91-253-2381247 E-Mail. : contact@cglmail.com D-2, MIDC, Waluj,
Aurangabad – 431136, Maharashtra, India Tel. No. 91-240-2554662 /2554371/ 2554372/ 2554559 Fax No. 91-240-2554697 E-Mail. : cglsg@bom4.vsnl.net.in 209, Mumbai Pune
Road, Pimpri, Pune – 411018, Maharashtra, India Tel. No. 91-20-27474925 Fax No. 91-20-27474972 E-Mail. : cgt2@mantraonline.com T1+T2, MPAKVN
Industrial Area, Malanpur (District Bhind) - 477716, Madhya Pradesh, India Tel. No. 91-7539-283502/ 3507/ 3470 Fax No. 91-7539-283585 E-Mail. : cgt2@mantraonline.com Plot No.29-32, New
Industrial Area No.1, Mandideep – 462046, Madhya Pradesh, India Tel. No. 91-7480-233306 Fax No. 91-7480-233149 E-Mail. cglt-bpl@sancharnet.in Plot No. 65,
Phase 1, SIPCOT Industrial Complex, Hosur - 635126, Tamilnadu, India Telefax : 91-4344-2579633 Fax No. : 91-4344-2579622 E-Mail. : cgpolycrete@satyam.net.in Industrial Systems
Kanjur, Bhandup,
Mumbai – 400042, Maharashtra, India Tel. No. 91-22-2578 2451 Fax No. 91-22-2578 3845 E-Mail. : imd@cgl.co.in A/6-2, MIDC
Industrial Area, Ahmednagar – 414111, Maharashtra, India Tel. No. 91-241-2777372 Fax No. 91-241-2777508 E-Mail. : sc.gupta@mail.cgl.co.in Unit-2, B-110, MIDC
Industrial Area, Ahmednagar – 414111, Maharashtra, India Tel. No. 91-241-2778521 Fax No. 91-241-2777491 E-Mail. : gupta.r.k@mail.cgl.co.in Plot No. 4, Gate
No. 627/2, Village Kuruli, Near Chakan, Pune - 410501, Maharashtra, India Tel. No. 91-2135-254641/2 E-Mail. feeder@cgl.co.in D-5, Industrial
Area, MPAKVN, Mandideep – 462046, Madhya Pradesh, India Tel. No. 91-7480-233116 / 233118 Fax No. 91-7480-233119 E-Mail. : ak.raina@mail.cgl.co.in 11-B, Industrial
Area 1, Pithampur – 454775, District Dhar, Madhya Pradesh, India Tel. No. 91-7292-253194/ 253258 Fax No. 91-7292-253211 E-Mail. : cglsrub@sancharnet.in C 71-72, MIDC
Industrial Area, Satpur, Nashik – 422 007, Tel. No. 91-253-2351067/ 69 Fax No. 91-253-2351492 E-Mail. : vrkumar@satpur2.cgl.co.in D-2-21, 22, 23,
Tivim Industrial Estate, Karaswada, Bardez, Goa - 403526, India Tel. No.
91-832-2257639/ 409 Fax No. 91-832-2257207 E-Mail. : sagar.r.k.@mail.cgl.co.in 196-198, Kundaim
Industrial Estate, Kundaim, Ponda, Goa - 403110, India Tel. No. 91-834-2395510 Fax No. 91-834-2395377 E-Mail.: cglfhpg@goatelecom.com L. B. Shastri
Marg, Bhandup, Mumbai - 400078, Maharashtra, India Tel. No. : 91-22-25783865/ 3581/ 83 Fax No. : 91-22-25782877 Dr. E. Moses
Road, Worli, Mumbai – 400018, Maharashtra, India Tel. No. : 91-22-24933913/ 916 Fax No.: 91-22-24951411 CONSUMER
PRODUCTS Kanjur (East), Bhandup, Mumbai – 400042, Maharashtra,
India Tel. No. 91-22-25782451 Fax No. 91-22-25786046 Dr. E. Moses
Road, Worli, Mumbai – 400018, Maharashtra, India Tel. No. 91-22-24951983 / 24944376/ 24977652 Fax No. 91-22-24604707 / 4708 / 24973046 E-Mail. : vrm@cgl.co.in Kural Village,
Padra Taluka, Tel. No. : 91-2662-242278 Fax No. : 91-2662-242326 E-Mail. : kvs@mail.cgl.co.in 325-326, Kundaim
Industrial Estate, Ponda, Goa - 403110, India Tel. No. : 91-832-2395304 Fax No. : 91-832-2395305 A-28, MIDC,
Ahmednagar - 414111, Maharashtra, India Tel. No. 91-241-2777155 E-Mail. uhm@cgl.co.in 214-A, Kundaim
Industrial Estate, Kundaim, Goa - 403 110, Tel. No. 91-832-2395246/ 206/ 304 Fax No. 91-832-2395305 E-Mail. rsk@mail.cgl.co.in Plot No. 1, IDC
Industrial Estate, Bethora, Ponda, Goa-403409, India Tel. No. 91-832-2330005/ 2330742 Fax No. 91-832-2313155 E-Mail. rsk@mail.cgl.co.in Village and
Import Export Executive Channo, District Sangrur - 148026, Punjab, India DIGITAL GROUP
10-A Jigani
Industrial Estate, Jigani, Anekal, Bangalore Rural - 562106, Karnataka, India E-Mail. cgl.rcd@cromption.sril.in 11A and 11C
Industrial Area, Pithampur – 454775, District Dhar, Madhya Pradesh, India Tel. No. 91-7292-253035/ 253071 Fax No. 91-7292-253213 E-Mail. hs_sekhon@yahoo.co.in INTERNATIONAL DIVISION
Jagruti, 2nd
Floor, Kanjur Marg (East), Mumbai - 400 042, Tel No. 91-22-25782451-7 / 25776524 / 6649 / 25776723 / 25784211-19 /
67558000 Fax No. 91-22-25774066 E-Mail. ashley@cgl.co.in DOMESTIC APPLIANCES DIVISION
27, Rani Jhansi Road, New Delhi - 110055, India Tel. No. 91-11-27516993/ 23632349 Fax No. 91-11-27514899 ENGINEERING PROJECTS DIVISION
Bombay Mutual Building, 4th Floor, 232, NSC Bose Road, PO Box No.100, Chennai - 600001, Tamilnadu, India Tel No. 91-44-25341941 Fax No. 91-44-25341048 E-Mail. cglepd@vsnl.com 50, Chowringhee
Road, Kolkata - 700071, West Bengal, India Tel. No. 91-33-22828709/ 22820814/ 3716 Fax No. 91-33-22823715 LIGHTING DIVISION
Dr. E. Moses
Road, Worli, Mumbai - 400018, Maharashtra, India Tel. No. 91-22-24604701 |
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Regional Sales
Office : |
Northern Region Located at: v Jaipur v Jalandhar v
v
Eastern Region Located at: v
Kolkata v
v
Western Region Located at: v Mumbai v
Ahmedabad v
v
Indore v
v
Pune v
v
Southern Region Located At: v Chennai v
v Secunderabad v
v
Satellite Office Located at: v
v
v
Ernakulam v
Chennai v
v
v
Mandapam |
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Overseas offices : |
Located at Poland |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Gautam Thapar
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Designation : |
Chairman |
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Name : |
Mr. S.M. Trehan |
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Designation : |
Vice Chairman
(Managing Director upto 1st June, 2011) |
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Name : |
Mr. L. Demortier |
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Designation : |
Managing Director
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Name : |
Mr. S. Apte |
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Designation : |
Non Executive
Director |
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Name : |
Mr. Omkar Goswami
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Designation : |
Non Executive
Director |
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Name : |
Mr .B Hariharan |
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Designation : |
Non Executive
Director |
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Name : |
Mr. S. Labroo |
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Designation : |
Non Executive
Director |
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Name : |
Mr. S. Prabhu |
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Designation : |
Non Executive
Director |
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Name : |
Mr. M. Pudumjee |
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Designation : |
Non Executive
Director |
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Name : |
Mr. C Lewiner |
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Designation : |
Non Executive
Director |
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Name : |
Mr. V. Von Massow |
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Designation : |
Non Executive
Director |
KEY EXECUTIVES
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Name : |
Mr. M. Acharya |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. W. Henriques |
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Designation : |
Company Secretary |
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Name : |
Mr. L. Demortier |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Jayant Kulkarni |
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Designation : |
Executive Vice President and President
(Power Business Unit) |
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Name : |
Mr. Dileep Patil |
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Designation : |
Executive Vice President and Chief Technology Officer |
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Name : |
Mr. Sanjay Jorapur |
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Designation : |
Executive Vice President and Global Head ((Human Resources) |
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Name : |
Wilton Henriques |
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Designation : |
Executive Vice President and Global Head (Legal, Governance and Risk) |
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Name : |
Mr. Madhav Acharya |
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Designation : |
Executive Vice President, Chief Financial Officer and Chief
Information Officers |
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Name : |
Norberto Santiago Elustondo |
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Designation : |
Executive Vice President and President (Automation Business Unit) |
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Name : |
Laurent Demortier |
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Designation : |
CEO and Managing Director |
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Name : |
Mr. Ash Gupta |
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Designation : |
Executive Vice President and President (Consumer Business Unit) |
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Name : |
Mr. Anil Raina |
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Designation : |
Executive Vice President and President (Industrial Business Unit |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Category of
Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
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|
255945608 |
40.74 |
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|
255945608 |
40.74 |
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|
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|
11505462 |
1.83 |
|
|
11505462 |
1.83 |
|
Total shareholding of Promoter and Promoter Group (A) |
267451070 |
42.57 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
104850928 |
16.69 |
|
|
1113132 |
0.18 |
|
|
48049777 |
7.65 |
|
|
104204258 |
16.59 |
|
|
258218095 |
41.10 |
|
|
|
|
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|
32543106 |
5.18 |
|
|
|
|
|
|
53588669 |
8.53 |
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|
7442845 |
1.18 |
|
|
9007112 |
1.43 |
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|
2708531 |
0.43 |
|
|
178806 |
0.03 |
|
|
6116442 |
0.97 |
|
|
3333 |
0.00 |
|
|
102581732 |
16.33 |
|
Total Public shareholding (B) |
360799827 |
57.43 |
|
Total (A)+(B) |
628250897 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
1449294 |
0.00 |
|
|
1449294 |
0.00 |
|
Total (A)+(B)+(C) |
629700191 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of transformers, switchgears, turn-key
projects, capacitors, electric motors - fractional horse power motors, LT
motors, alternators, HT motors, DC machines, rail transportation, fans,
luminaries, light sources, telephone instruments, telecommunication
switching, transmission and access products, EPABX systems and agricultural
and domestic pumps, etc. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
#Licensed Capacity |
*Installed Capacity |
@Actual Production |
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Transformers, Reactors and
Accessories thereof |
MVA Nos. |
49304 38500 |
39700 61000 |
35810 24879 |
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Switchgear, Control Equipment and Accessories thereof |
Nos. |
440600 |
514540 |
367695 |
|
Energy Meters |
Nos. |
1000000 |
100000 |
367301 |
|
Traction Electronic, Industrial Drives and SCADA |
Nos. |
3334 |
3334 |
329 |
|
Electric Motors and Alternators
and Drives Panels |
HP Nos. |
10520000 2089500 |
6380000 597862 |
5418088 485395 |
|
Power driven Pumps |
Nos. |
460000 |
140000 |
125405 |
|
Electrical Steel Stamping and
Laminates |
MT |
22000 |
22000 |
17080 |
|
Electric Fans, Ventilation and
Pollution Control Systems |
Nos. |
5980000 |
6052900 |
4261893 |
|
Electric Lamps |
Nos. |
114988000 |
115228000 |
104424858 |
|
Other Items |
Nos. |
1050 |
1050 |
37 |
NOTE:
# Under the liberalised Industrial Policy of Government of India, the Company
obtained the capacities approved by way of acknowledgements against the IEMs
submitted by it.
* Installed Capacities are as certified by the Managing Director.
@ The production figures are as per returns submitted to the Department of
Industrial Development.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
v
Union Bank of v IDBI Bank Limited v
State Bank of v ICICI Bank Limited v Corporation Bank v
The Royal Bank of v Canara Bank v Standard Chartered Bank v
Bank of v Credit Agricole CIB v Yes
Bank Limited |
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Facilities : |
NOTE: Working capital
demand loan from bank is secured by hypothecation of inventories, book debts
and trade receivables, both present and future. |
|
Banking Relations
: |
-- |
|
|
|
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Auditors : |
|
|
Name : |
Sharp and Tannan Chartered
Accountants |
|
|
|
|
Solicitors : |
Crawford Bayley
and Company |
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|
Subsidiaries : |
œ CG Energy Management Limited œ CG PPI Adhesive Products Limited œ CG-ZIV Power Automation Solutions Limited œ CG International B.V. œ CG Power Systems USA Inc. œ CG Sales Networks Americas Inc. œ CG Sales Networks France SA œ CG Power Systems Belgium N.V. œ CG Power Systems Canada Inc. œ CG Holdings Belgium N.V. œ CG Electric Systems Hungary Zrt. œ CG Automation Systems UK Limited œ PT. CG Power Systems Indonesia œ CG Power Systems Ireland Limited œ CG Power Solutions USA Inc. œ CG Power Systems Brazil LTDA œ CG Drives and Automation Sweden AB œ CG Drives and Automations Germany GmbH œ CG Drives and Automation Netherlands B.V. œ Crompton Greaves Holdings Mauritius Limited œ CG Power Solutions Limited œ ZIV Communications S.A. œ ZIV
Aplicaciones y Tecnologia S.L. |
|
|
|
|
Associates: |
œ
CG Lucy Switchgear Limited œ Avantha
Power and Infrastructure Limited |
|
|
|
|
Other related
parties in which directors are interested: |
œ
Ballarpur Industries Limited œ
Solaris ChemTech Industries Limited œ
BILT Graphic Paper Products Limited œ
Avantha Technologies Limited œ
Avantha Holdings Limited œ
Salient Business Solutions Limited œ
Avantha Realty Limited œ
Korba West Power Company Limited œ
Sabah Forest Industries Sdn. Bhd. œ
Malanpur Captive Power Limited œ
Corella Investments Limited œ
Lustre International Limited œ
Varun Prakashan Private Limited œ Jhabua
Power Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1805000000 |
Equity Shares |
Rs. 2/- Each |
Rs.3610.000 Millions |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
641533836 |
Equity Shares |
Rs. 2/- Each |
Rs.1283.000 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
641491536 |
Equity Shares |
Rs. 2/- Each |
Rs.1283.000 Millions |
|
|
|
|
|
(a)
Reconciliation of the number of the shares
outstanding at the beginning and at the end of the year:
|
Particulars |
31.03.2012 |
|
|
Authorised share capital: |
No. of Shares |
Rs. in Millions |
|
|
|
|
|
Balance at the beginning of the year |
1805000000 |
3610.000 |
|
Amalgamation of wholly owned subsidiary with the company (Refer note
below) |
-- |
-- |
|
Balance at the end of the year |
1805000000 |
3610.000 |
(b)
Terms /
rights attached to equity shares:
The Company has
only one class of share capital, i.e., equity shares having face value of Rs.2
per share. Each holder of equity share is entitled to one vote per share.
During the year,
the Company has declared and paid interim dividend of Rs. 0.80 per share. The
Company has recommended a fi nal dividend of Rs.0.40 per share, subject to
approval of shareholders at the ensuing Annual General Meeting. In the event of
liqudation, the equity shareholders are eligible to receive the remaining
assets of the Company after distribution of all preferential amounts, in
proportion to their shareholding.
(c)
Details shareholders holding more than 5% shares in
the Company:
|
Particulars |
31.03.2012 |
|
|
% |
No. of Shares |
|
|
1. Avantha Holdings limited |
39.90 |
255937034 |
|
2. HDFC Trustee company limited |
9.05 |
58069500 |
|
3. life insurance corporation of India |
5.46 |
35043515 |
(d)
There are no shares
reserved for issue under options and contracts / commitments for the sale of
shares / disinvestment.
(e)
Aggregate number of bonus shares issued during the
period of five years immediately preceding the reporting date:
|
Particulars |
31.03.2012 |
|
No. of Shares |
|
|
|
|
|
shares issued as fully paid-up bonus shares |
274924944 |
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1283.000 |
1283.000 |
1283.000 |
|
(b) Reserves & Surplus |
29285.500 |
25725.800 |
21757.800 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
30568.500 |
27008.800 |
23040.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.500 |
20.600 |
50.800 |
|
(b) Deferred tax liabilities (Net) |
498.300 |
432.300 |
735.200 |
|
(c) Other long term liabilities |
273.300 |
249.400 |
673.600 |
|
(d) long-term provisions |
380.900 |
311.100 |
84.000 |
|
Total Non-current Liabilities (3) |
1160.000 |
1013.400 |
1543.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
129.300 |
2.000 |
0.000 |
|
(b) Trade payables |
15143.100 |
11710.300 |
10954.200 |
|
(c) Other current
liabilities |
4216.600 |
4778.600 |
3748.800 |
|
(d) Short-term provisions |
1478.700 |
1191.800 |
1608.800 |
|
Total Current Liabilities (4) |
20967.700 |
17682.700 |
16311.800 |
|
|
|
|
|
|
TOTAL |
52696.200 |
45704.900 |
40896.200 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6043.200 |
5308.900 |
8201.500 |
|
(ii) Intangible Assets |
561.700 |
652.700 |
551.500 |
|
(iii) Capital
work-in-progress |
749.100 |
582.900 |
416.600 |
|
(iv)
Intangible assets under development |
398.600 |
210.300 |
55.700 |
|
(b) Non-current Investments |
5545.800 |
5515.900 |
3790.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
181.000 |
228.700 |
183.600 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
13479.400 |
12499.400 |
13199.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
5004.600 |
5009.100 |
4026.200 |
|
(b) Inventories |
5485.000 |
4496.000 |
4057.200 |
|
(c) Trade receivables |
18406.200 |
17356.200 |
15101.800 |
|
(d) Cash and cash
equivalents |
2887.900 |
3211.000 |
1508.900 |
|
(e) Short-term loans
and advances |
6935.700 |
2644.400 |
2525.400 |
|
(f) Other current
assets |
497.400 |
488.800 |
477.600 |
|
Total Current Assets |
39216.800 |
33205.500 |
27697.100 |
|
|
|
|
|
|
TOTAL |
52696.200 |
45704.900 |
40896.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
71353.000 |
64853.800 |
59514.700 |
|
|
|
Other Income |
986.800 |
743.900 |
961.500 |
|
|
|
TOTAL |
72339.800 |
65597.700 |
60476.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw materials
and components consumed and construction materials |
35652.800 |
34676.200 |
30484.500 |
|
|
|
Purchases of stock-in-trade |
18118.000 |
12654.700 |
10739.300 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(429.900) |
(73.900) |
(568.400) |
|
|
|
Employee benefits |
4111.700 |
3635.900 |
3101.700 |
|
|
|
Other Expenses |
7954.300 |
6754.100 |
6432.500 |
|
|
|
TOTAL |
65406.900 |
57647.000 |
50189.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
6932.900 |
7950.700 |
10286.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
254.100 |
276.600 |
207.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6678.800 |
7674.100 |
10079.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
718.600 |
907.100 |
808.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5960.200 |
6767.000 |
9270.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1501.800 |
1718.400 |
2326.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
4458.400 |
5048.600 |
6943.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20592.100 |
17401.600 |
12724.100 |
|
|
|
|
|
|
|
|
|
Add |
AMOUNT
TRANSFERRED ON AMALGAMATION OF A SUBSIDIARY |
-- |
(134.300) |
78.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
450.000 |
680.000 |
700.000 |
|
|
|
1st Interim Dividend |
256.600 |
513.200 |
513.200 |
|
|
|
2nd Interim Dividend |
256.600 |
128.300 |
513.200 |
|
|
|
3rd Interim Dividend |
0.000 |
256.600 |
384.900 |
|
|
|
Proposed Dividend |
256.600 |
0.000 |
0.000 |
|
|
|
Corporate Dividend Tax |
126.900 |
145.700 |
232.900 |
|
|
BALANCE CARRIED TO
THE B/S |
23703.800 |
20592.100 |
17401.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (on FOB Basis) including deemed exports Rs.2360.100
millions |
8501.200 |
8719.600 |
10555.700 |
|
|
|
Service Income |
57.700 |
131.000 |
149.100 |
|
|
|
Other Earnings |
212.700 |
138.700 |
0.000 |
|
|
TOTAL EARNINGS |
8771.600 |
8989.300 |
10704.800 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5981.400 |
5579.800 |
4525.100 |
|
|
|
Trading Goods |
1303.300 |
951.500 |
703.900 |
|
|
|
Spares Parts |
28.800 |
33.200 |
54.500 |
|
|
|
Capital Goods |
288.500 |
336.000 |
83.900 |
|
|
TOTAL IMPORTS |
7602.000 |
6900.500 |
5367.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.95 |
7.87 |
10.82 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Audited / UnAudited |
|
|
UnAudited |
|
Net Sales |
|
|
18194.200 |
|
Total Expenditure |
|
|
16670.300 |
|
PBIDT (Excl OI) |
|
|
1523.900 |
|
Other Income |
|
|
364.300 |
|
Operating Profit |
|
|
1888.200 |
|
Interest |
|
|
0.000 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
1888.200 |
|
Depreciation |
|
|
211.800 |
|
Profit Before Tax |
|
|
1676.400 |
|
Tax |
|
|
430.100 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
1246.300 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
1246.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.70
|
11.48 |
11.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.43
|
15.58 |
17.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.11
|
17.18 |
25.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.25 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87
|
1.88 |
1.20 |
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 |
No |
|
8] |
No. of
employees |
No |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
-------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
Yes |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct of
the banking account |
---------------------- |
|
26] |
Buyer visit
details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
LITIGATION DETAILS
CASE
DETAILS
BENCH:–
BOMBAY
|
Stamp
No: - WPST/29105/2012
Filing Date: - 17/10/2012 Reg.
No:- WP/11648/2012 Reg.
Date:- 13/12/2012 |
|
Petitioner:- NASHIK
MUMCIPAL CORPORATION - Respondent:- CROMPTON
GREAVES LTD. Petn. Adv.:- PM.
L. PATIL
Resp. Adv. : ADITYA CHITALE
District: NASHIK |
|
Bench:- SINGLE Status:- admitted (Unready) Last Date:- 20/02/2013
Stage:-
FOR ADMISSION – FRESH (CIVIL
SIDE MATTERS) Last Coram:- HON’BLE SHRI JUSTICE B.R. GAVAI |
|
Act:- Bombay Provincial Municipal
Corporations Act - 1949 |
UNSECURED LOAN:
|
Particulars |
31.03.2013 [Rs.
in Millions] |
31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Interest-free
sales tax deferral loans from State Government |
7.500 |
20.600 |
|
|
|
|
|
Total |
7.500 |
20.600 |
NOTE: (Unsecured Loan)
The Company has
opted for the deferral Scheme of sales tax, which is payable as per the Scheme
framed by State Government
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80015435 |
07/12/2012 * |
29,000,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH , UNION BANK BHAVAN,
1ST FLOOR , VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, Maharashtra - 400021,
INDIA |
B65017337 |
* Date of charge modification
ACQUISITION
On 27 July 2012, the Company acquired ZIV Group based in Spain, engaged in the design, engineering, manufacturing and support of Intelligent Electrical Devices (lEDs) and power automation systems for Utilities and Industries, for an Enterprise Value of _147 million.
ZIV's offerings span from Substation and Distribution Automation, to Advanced Metering Infrastructure (AMI). ZIV has installed more than 1.4 million lEDs for Utilities and Industries across the world. This acquisition expands the CG portfolio for power system automation and protection and creates a strong platform for CG in the smart grid arena.
On 11 January 2013, the Company acquired the Compact Fluorescent Lamps (CFL) business of Karma Industries at Baddi, Himachal Pradesh, for an approximate value of Rs. 145 million. The acquisition will double the Company's capacity in the fast-growing CFL lighting segment and reinforce its presence in the rapidly growing Indian consumer market.
AMALGAMATION
CG-ZIV Power Automation Solutions Ltd (CG-ZIV) is a Joint Venture Company between the Company and ZIV Spain. Post acquisition of ZIV Group, for simplification of the shareholding structure and operational synergies, the Board of Directors at their Meeting held on 13 April 2013, approved the amalgamation of CG-ZIV with the Company; A Scheme of Amalgamation will shortly be filed with the High Court of Judicature at Bombay.
JOINT VENTURE
On 2 May 2013, the Company entered into a Joint Venture Agreement with PT Prima Layanan Nasional Enjinring (PLNE) of Indonesia, for the manufacture of high voltage (HV) and extra high voltage (EHV) switchgear ranging from 70kV to 500kV in Indonesia. The Joint Venture will be owned 51 % by CG and 49% by PLNE.
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2013
(Rs. In Millions)
|
|
Particulars |
30.06.2013 Quarter ended |
|
|
|
Unaudited |
|
1 |
Income from operations (a) Net sales / Income from operations (Net of
excise duty) |
18194.200 -- |
|
|
Total income from operations
(net) |
18194.200 |
|
2 |
Expenses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, work-in-progress and
stock-in-trade (d) Employee benefits expense (e) Depreciation and amortisation expense (f) Other expenses |
8785.600 5427.500 (516.700) 1131.700 211.800 1842.200 |
|
|
Total expenses |
16882.100 |
|
3 |
Profit from
operations before other income, finance costs and exceptional items |
1312.100 |
|
4 |
Other income |
298.300 |
|
5 |
Profit from ordinary activities
before finance costs and exceptional items |
1610.400 |
|
6 |
Finance costs (net) |
(66.000) |
|
7 |
Profit from ordinary activities
after finance costs but before exceptional items |
1676.400 |
|
8 |
Exceptional items |
-- |
|
9 |
Profit from ordinary
activities before tax |
1676.400 |
|
10 |
Tax expense |
430.100 |
|
11 |
Net profit from
ordinary activities after tax |
1246.300 |
|
12 |
Extraordinary items (net of tax expense Rs. Nil) |
-- |
|
13 |
Net profit for the
period / year |
1246.300 |
|
14 |
Paid-up equity share capital (Face value of equity share of ? 2 each) |
1283.000 |
|
15 |
Reserves
excluding Revaluation Reserve as per balance sheet of previous accounting
year |
-- |
|
16 |
Earnings Per Share (before extraordinary items) (of ?2 each) (Not annualised) (a) Basic (b) Diluted |
1.94 1.94 |
|
|
Earnings Per Share (after
extraordinary items) (of ?2 each)
(Not annualised) (a) Basic (b) Diluted |
1.94 1.94 |
SELECT
INFORMATION FOR THE QUARTER ENDED 30TH JUNE. 2013
|
|
Particulars |
30.06.2013 Quarter ended |
|
A |
PARTICULARS
OF SHAREHOLDING |
|
|
1 |
Public
shareholding* |
|
|
|
-
Number of shares |
374040466 |
|
|
-
Percentage of shareholding |
58.31 |
|
2 |
Promoters
and Promoter Group |
|
|
|
Shareholding |
|
|
|
(a)
Pledged / Encumbered |
|
|
|
-
Number of shares |
171638500 |
|
|
-
Percentage of shares (as a % of the total shareholding of promoter and
promoter group) |
64.18 |
|
|
- Percentage
of shares |
26.76 |
|
|
(as a
% of the total share capital of the Company) |
|
|
|
(b)
Non-encumbered |
|
|
|
-
Number of shares |
95812570 |
|
|
-
Percentage of shares |
35.82 |
|
|
(as a
% of the total shareholding of promoter and promoter group) |
|
|
|
-
Percentage of shares (as a % of the total share capital of the Company) |
14.93 |
|
|
||
|
|
Particulars |
3 months ended |
|
|
|
30.06.2013 |
|
B |
INVESTOR COMPLAINTS |
|
|
|
Pending
at the beginning of the quarter |
Nil |
|
|
Received
during the quarter |
1 |
|
|
Disposed
of during the quarter |
1 |
|
|
Remaining
unresolved at the end of the quarter |
Nil |
STANDALONE
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH
JUNE, 2013
|
|
Particulars |
30.06.2013 Quarter ended |
|
|
|
Unaudited |
|
1. |
Segment Revenue (net of excise duty): |
|
|
|
(a) Power Systems |
5647.600 |
|
|
(b) Consumer
Products |
7885.300 |
|
|
(c)
Industrial Systems |
3703.400 |
|
|
(d) Others |
1101.000 |
|
|
Total Less: Inter-Segment Revenue |
18337.300 143.100 |
|
|
Total
income from operations (net) |
18194.200 |
|
2. |
Segment Results: [Profit / (loss) before tax and finance costs from
each segment] |
|
|
|
(a) Power
Systems |
458.900 |
|
|
(b) Consumer
Products |
939.800 |
|
|
(c)
Industrial Systems |
424.800 |
|
|
(d) Others |
(44.000) |
|
|
Total Less: |
1779.500 |
|
|
(i) Finance
costs (net) |
(66.000) |
|
|
(ii) Other
un-allocable expenditure net of un-allocable income |
169.100 |
|
|
Profit from ordinary activities
before tax |
1676.400 |
|
3. |
Capital
Employed: (Segment
Assets - Segment Liabilities) |
|
|
|
(a) Power
Systems |
9484.300 |
|
|
(b) Consumer
Products |
1089.000 |
|
|
(c)
Industrial Systems |
3909.000 |
|
|
(d) Others |
963.200 |
|
|
(e) Unallocable |
17212.900 |
|
|
Total |
32658.400 |
Notes on standalone unaudited results:
1. The above standalone unaudited results have been reviewed by the Audit Committee
and approved by the Board of Directors at its meeting held on 6th August, 2013.
The statutory auditors have carried out a limited review of the financials of
the Company as required under Clause 41 of the Listing Agreement and the
related report is being forwarded to the Stock Exchanges.
2. The Board of Directors of the Company at their meeting held on 28th
June, 2013, have announced the buy-back of fully paid equity shares of Rs. 2
each, from the open market through the Stock Exchanges, at a price not
exceeding Rs.125 per share, up to an amount of Rs. 2657.000 millions, being 10%
of total Paid-up Equity Capital plus Free Reserves as per the last audited
Balance Sheet as at 31st March, 2012. The Company has complied with the proviso
to Section 77A(2) of the Companies Act, 1956 and the norms prescribed by the
Securities and Exchange Board of India (Buy-back of Securities) Regulations,
1998, as amended and has commenced the buy-back of shares from 16th July, 2013.
3. The Board of Directors of the Company, at their meeting held on 18th
April, 2013, has approved the amalgamation of CG-ZIV Power Automation Solutions
Limited, India, (a wholly-owned subsidiary) with the Company. Pursuant to the
above announcement of the buy-back of shares, the Board of Directors has
deferred the proposed amalgamation.
4. Figures of the previous quarters / year have been regrouped and
reclassified, wherever necessary.
FIXED ASSETS:
œ Freehold Land
œ Leasehold Land
œ Buildings
œ Plant and Machinery
œ Railway sidings
œ Furniture and Fixtures
œ Office Equipments
œ Aircrafts
œ Vehicles
œ Goodwill
œ Computer Software
œ Technical Know – how
œ Commercial rights
œ Research and Development
PRESS RELEASE:
CROMPTON GREAVES Q1 NET FALLS 30% TO RS.
600.000 MILLIONS
07.08.2013
New Delhi: Power equipment maker Crompton Greaves (CG) today reported 30 per cent fall in its net profit to Rs 600.000 millions for the first quarter ended June 30, 2013.
The company has posted a PAT (profit after tax) of Rs.
860.000 millions in the corresponding quarter of the previous financial year, the company said in a filing to the stock exchange.
Total income of the company during the period under review stood at Rs. 31925.000 millions, compared to Rs.
28303.000 millions for the same quarter a year ago.
"First quarter of the current fiscal has been an encouraging quarter for
CG, despite a challenging market environment. The performance of all our
businesses in India has shown significant improvement," CEO and managing director Laurent Demortier said.
The company received orders worth Rs. 24410.000
millions in the first quarter of the current fiscal.
Shares of the company were trading at Rs. 85.50, up
1.24 per cent from the previous close on BSE.
CG INAUGURATES 1600 KV ULTRA HIGH VOLTAGE (UHV) RESEARCH CENTRE
October 14, 2013
· To deliver reliable and customized UHV Switchgear for Global markets
· Invested Rs 400 million to enhance its R&D capabilities to achieve global excellence in the UHV domain
MUMBAI, Avantha Group Company CG inaugurated its 1600kV Ultra High Voltage (UHV) Research Centre at its Switchgear Complex in Nashik.
CG has invested nearly Rs 400 million in this world class infrastructure to enhance its R&D capabilities to achieve global excellence in the UHV domain. This Research Centre is a 21,786 sq ft and 118 ft tall, electrical-noise-free infrastructure, built with sophistication, intricacy and equipped with the latest state-of-the-art testing equipment. Having achieved leadership position in the manufacture of power products up to 765 kV, this is a significant move towards fulfilling CG’s strategic objective of positioning itself as a sizeable player in the UHV arena in the world. Prime markets for these products are large countries like India, South America and Africa, where such very high voltage transmission networks are present. The Research Centre facilitates reliable and economic new product development for the global UHV/EHV (Extra High Voltage) markets, spanning 800kV EHV to 1200 kV UHV power transmission systems. It is envisaged to be CG’s manufacturing and development hub for Switchgear.
The centre will focus on research and development of high power sub-station equipment, such as Circuit Breakers (Live Tank and Dead Tank), GIS (Gas Insulated Switchgear), Instrument Transformers (CT / IVT / CVT) (Current Transformers/Inductive Voltage Transformers/Capacitive Voltage Transformers), Transformer Bushings, Surge Arresters, and Disconnectors with enhanced capabilities and at competitive prices. The centre is equipped with 1600 kV AC and 3600 kV, 360 kJ Impulse test systems to conduct all the dielectric performance tests as per the latest global IEC, ANSI standards and other International product standards. It will also facilitate developmental research tests, on new dielectric systems and products. This UHV infrastructure will help in the local manufacture of UHV products, thus saving huge costs on imports to Indian customers. CG’s Global customers can have the benefit of getting the entire range of products of global quality standard, from Medium Voltage to Ultra High Voltage, from a single source.
Commenting on the inauguration, Avantha Group Company CG’s CEO and Managing Director, Mr. Laurent Demortier said, “First, I do congratulate the CG team and thank our customers and local authorities who supported us for the construction of this centre. This inauguration is an important milestone for CG. This Research Centre will provide us with the necessary tools to effectively compete in the fast growing UHV/ EHV market segments. The CG centre in Nashik, which has been providing MV (Medium Voltage) and HV (High Voltage) switchgear for customers all around the world, will fuel CG’s growth by producing a full range of EHV and UHV switchgear up to 1200 KV”
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 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] 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.61.50 |
|
|
1 |
Rs.99.49 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP CAPITAL |
1~10 |
10 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
77 |
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.