MIRA INFORM REPORT
|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PANASONIC INDIA PRIVATE LIMITED (w.e.f. 03.10.2008) |
|
|
|
|
Formerly Known
As : |
PANASONIC SALES AND SERVICES INDIA PRIVATE LIMTIED |
|
|
|
|
Registered
Office : |
6th Floor, SPIC Building, Annex 88, Mount Road, Guindy,
Chennai-600032, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.07.2006 |
|
|
|
|
Com. Reg. No.: |
18-060554 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7738.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51395TN2006PTC060554 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHEP08735G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP9391B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Trading and Marketing Consumer Electronics
Goods. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 21260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Panasonic Holding (Netherland) B.V., Netherland.
It is an established company having moderate track record. There appears accumulated losses recorded by the company which has
increase in 2012. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very
High |
C1 |
|
Restricted |
C2 |
|
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.
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 : |
6th Floor, SPIC Building, Annex 88, Mount Road, Guindy,
Chennai-600032, Tamilnadu, India |
|
Tel. No.: |
91-44-22301952 |
|
Fax No.: |
91-44-22301951 |
|
E-Mail : |
|
|
|
|
|
Consumer Sales
Division : |
1st Floor, ABW Tower, IFFCO Chowk, MG Road, Sector 25,
Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-4596600/6770400 |
|
Fax No.: |
91-124-4596625 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Masao Okawa |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
34, Tanah Merah Kechil Road, #09-31, East Meadows, Singapore-465560 |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.09.1958 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
28.05.2010 |
|||||||||||||||||||||||||||
|
Din No.: |
02216308 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Daizo Ito |
|||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
|||||||||||||||||||||||||||
|
Address : |
C/21002, Uniworld City, Sector-31, Gurgaon-122001, Haryana, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.02.1959 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.10.2008 |
|||||||||||||||||||||||||||
|
Din No.: |
02429688 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Yutaka Suzuki |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
2-1-4, Shoyo, Otsu City Shiga-5202134, Japan |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.08.1961 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
27.04.2011 |
|||||||||||||||||||||||||||
|
Din No.: |
03101602 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mikio Matsui |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
473, River Valley Road, # 07-03, Valley Park, Singapore-248358 |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.01.1964 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
27.04.2011 |
|||||||||||||||||||||||||||
|
Din No.: |
03536242 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Yorihisa Shiokawa |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
31, Oxley Walk, # 03-32, Belle Vue, Singapore-238598 |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.03.1952 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
27.04.2011 |
|||||||||||||||||||||||||||
|
Din No.: |
03536243 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Tarun Kumar Sharma |
|
Designation : |
Company Secretary |
|
Address : |
B-6, Classic Apartment, Plot No. 11, Sector 22, Dwarka, New
Delhi-110075, India |
|
Date of Birth/Age : |
10.07.1976 |
|
Date of Appointment : |
01.09.2011 |
|
Pan No.: |
BBHPS6399R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Panasonic Holding (Netherland) BV, Netherland |
|
1 |
|
Panasonic Asia Pacific Pte. Limited, Singapore |
|
773799999 |
|
|
|
|
|
TOTAL
|
|
773800000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Trading and Marketing Consumer
Electronics Goods. |
|
|
|
|
Brand Names : |
“PANASONIC” |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Standard Chartered Bank, 19, Rajaji Salai, Chennai-600001, Tamilnadu,
India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower BDIF, Cyber City, Phase 2,
Mahatma Gandhi Road, Numgambakkam, Chennai-600034, Tamilnadu, India |
|
Tel. No.: |
91-44-39145000 |
|
Fax No.: |
91-44-39145999 |
|
PAN No: |
AAAFB9852F |
|
|
|
|
Holding Company : |
Panasonic Asia Pacific Pte. Limited, Singapore |
|
|
|
|
Ultimate Holding : |
Panasonic Corporation (Formerly known as Matushita Electric Industrial
Company Limited, Japan) |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
773800000 |
Equity Shares |
Rs.10/- each |
Rs.7738.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
773800000 |
Equity Shares |
Rs.10/- each |
Rs.7738.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
7738.000 |
7738.000 |
|
(b) Reserves & Surplus |
|
(2422.023) |
(543.563) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
5315.977 |
7194.437 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
33.945 |
23.957 |
|
Total
Non-current Liabilities (3) |
|
33.945 |
23.957 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
1185.000 |
|
(b)
Trade payables |
|
6800.312 |
2230.227 |
|
(c)
Other current liabilities |
|
731.319 |
475.386 |
|
(d)
Short-term provisions |
|
62.412 |
44.922 |
|
Total
Current Liabilities (4) |
|
7594.043 |
3935.535 |
|
|
|
|
|
|
TOTAL |
|
12943.965 |
11153.929 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1054.485 |
863.082 |
|
(ii)
Intangible Assets |
|
23.489 |
15.042 |
|
(iii)
Capital work-in-progress |
|
456.649 |
22.696 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b)
Non-current Investments |
|
0.000 |
0.000 |
|
(c)
Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
746.649 |
459.764 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
2281.272 |
1360.584 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
4515.343 |
3150.334 |
|
(c)
Trade receivables |
|
3154.963 |
2471.141 |
|
(d)
Cash and cash equivalents |
|
2055.607 |
3736.812 |
|
(e)
Short-term loans and advances |
|
284.325 |
30.363 |
|
(f)
Other current assets |
|
652.455 |
404.695 |
|
Total
Current Assets |
|
10662.693 |
9793.345 |
|
|
|
|
|
|
TOTAL |
|
12943.965 |
11153.929 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1700.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(72.356) |
|
|
NETWORTH |
|
|
1627.644 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
129.166 |
|
|
2] Unsecured Loans |
|
|
350.000 |
|
|
TOTAL BORROWING |
|
|
479.166 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2106.810 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
88.722 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
75.006 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1220.900
|
|
|
Sundry Debtors |
|
|
1635.927
|
|
|
Cash & Bank Balances |
|
|
224.781
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
313.711
|
|
Total
Current Assets |
|
|
3395.319 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1298.271
|
|
|
Other Current Liabilities |
|
|
72.562
|
|
|
Provisions |
|
|
81.404
|
|
Total
Current Liabilities |
|
|
1452.237
|
|
|
Net Current Assets |
|
|
1943.082
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2106.810 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25570.859 |
17067.142 |
11190.282 |
|
|
|
Other Income |
3837.285 |
2665.385 |
1587.380 |
|
|
|
Rebates/Discounts |
(6228.739) |
(2576.406) |
(1578.008) |
|
|
|
TOTAL (A) |
23179.405 |
17156.121 |
11199.654 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
25057.865 |
17450.119 |
11136.571 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(293.998) |
63.083 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
53.580 |
12.159 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[Including
Financial Expenses and Depreciation] |
(347.578) |
50.924 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
48.347 |
12.857 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1878.460) |
(395.925) |
38.067 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
75.282 |
(22.081) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(1878.460) |
(471.207) |
60.148 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Advertisement, sales promotion and price support |
|
2314.411 |
1346.029 |
|
|
|
Administration support |
3366.277 |
152.570 |
7.787 |
|
|
|
Service and other income |
|
3.441 |
7.947 |
|
|
|
Expenses recovered |
|
29.020 |
0.000 |
|
|
TOTAL EARNINGS |
3366.277 |
2499.442 |
1361.763 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading goods (including spares) |
NA |
6985.693 |
3492.527 |
|
|
|
Capital goods |
NA |
25.368 |
0.444 |
|
|
TOTAL IMPORTS |
NA
|
7011.061 |
3492.971 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.43) |
(0.61) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(8.10)
|
(2.75) |
0.54
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.35)
|
(2.32) |
0.34
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.04)
|
(3.55) |
1.07
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.35)
|
(0.05) |
2.34
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.16 |
0.29
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
2.49 |
2.34
|
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 |
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 |
-- |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
Profile
|
Client Industry |
Electronics |
|
Client's discipline |
-- |
General
|
The growth of the client's industry is best
described as: |
Growing |
|
Brief description of the services and/or goods
the client provides to the marketplace: |
Trading and
Marketing Consumer Electronics Goods |
|
What is the legal structure of the client? |
Subsidiary of a
Parent Company |
|
What type of company is the client? |
Private |
Credit Rating
|
Client's debt tracked by a credit rating agency? |
No |
|
Name of credit rating agency: |
----- |
|
Credit rating class provided by credit rating
agency: |
----- |
|
Client credit rating: |
----- |
|
Report on credit worthiness of client purchased
from: |
Not obtained |
Client Financials
|
Does the client have a credit facility? |
Yes |
|
Do you have financial information on this client? |
Yes |
|
Credit facility type: |
Secured/Unsecured |
|
Amount of credit facility: |
Secured : 000 Unsecured :000 |
|
Currency of financial statements/data: |
INR Millions |
|
Annualized revenues: |
Rs.25570.859
Millions |
|
Annualized COGS: |
----- |
|
Annualized EBITDA: |
----- |
|
Annualized net income: |
Rs.(1878.460)
Millions |
|
Cash balance: |
Rs.2055.200
Millions |
|
Marketable Securities balance: |
----- |
|
Accounts Receivable balance: |
Rs.3154.963
Millions |
|
Current Assets balance: |
Rs.10662.693
Millions |
|
Total assets balance: |
Rs.12943.965 Millions |
|
Current Liabilities balance: |
Rs.7594.043
Millions |
|
Long-Term Debt balance: |
000 |
|
Equity balance: |
Rs.5315.977
Millions |
|
Net cash provided by operating activities: |
Rs.346.235
Millions |
|
Date of client's financial data populated: |
31.03.2012 |
|
Financial information provided above audited? |
Yes |
COMPANY INFORMATION:
Subject was
incorporated on 14 July 2006 as a fully owned subsidiary of Panasonic Holding
(Netherlands) B.V. Panasonic Asia Pacific Pte. Limited, Singapore became the
holding Company during the year, through purchase of 99.99% of equity shares of
the Company. The name of the Company was changed to Panasonic India Private
Limited during the year 2008. The Company is engaged in the business of trading
and marketing consumer electronics goods under the brand name Panasonic in
India.
PERFORMANCE:
The Company Sales
for the year stood at Rs. 25570.800 Millions, which has increased by 49% as
compared to the previous year. However, Company incurred a loss of Rs. 1878.460
Millions which is in greater proportion as compared to loss of previous year.
The major factors for such loss are increased purchases, employee benefits
expenses, depreciation and amortization.
During the year
various marketing activities were focused. Various programs were organized by
the Company to make people aware about the new improved eco friendly products
of the Company, their importance in protecting our environment and in turn to
the society as whole.
FUTURE PROSPECTS:
The Panasonic has adopted
and continues to focus on the overarching vision of becoming the No. 1 Green
Innovation Company in the Electronics Industry, upto the 100th anniversary of
its founding in 2018. In the last fiscal year, they have launched Green
Transformation (GT 12), their three year mid-term management plan, as a first
step towards realizing this vision.
OPERATIONAL REVIEW:
India is fast on
its way to becoming a huge market and offers enormous potential. Panasonic is
showcasing its comprehensive strength to a broad customer base through a
variety of initiatives. In addition to organizing events that allow
participants to gain firsthand experience of the Group’s products and services
in most major cities and regular markets, Panasonic is opening showrooms,
strengthening B to B sales, upgrading and expanding its B to C product line up
and bolstering sales promotion activities.
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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.