MIRA INFORM REPORT
|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMSUNG INDIA ELECTRONICS PRIVATE LIMITED (w.e.f. 25.07.2005) |
|
|
|
|
Formerly Known
As : |
SAMSUNG INDIA ELECTRONICS LIMITED |
|
|
|
|
Registered
Office : |
A-25, Ground Floor, Front Tower, Mohan Co-operative Industrial Estate,
New Delhi – 110044 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
03.08.1995 |
|
|
|
|
Com. Reg. No.: |
55-071387 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2168.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31900DL1995PTC071387 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELS19222A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS5123K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing and trading of Audio Visual products, Home Appliances, Information Technology products and Hand Held Phones and development and export of software. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 49840000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Samsung Electronics Company Limited, Korea It is well established and reputed company having good track record.
Financially company performance is good. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 : |
A-25, Ground Floor, Front Tower, Mohan Co-operative Industrial Estate,
New Delhi – 110044, India |
|
Tel. No.: |
91-124-4881234 |
|
Mobile No.: |
91-9962080541 (Mr. Arun) |
|
Fax. No.: |
91-124-4881415 / 4882122 / 4882021 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.1, P-1, SIPCOT Industrial Park, Phase II, Sunguvarchatram,
India |
|
Tel No.: |
91-124-4881234 |
|
Fax No.: |
91-124-4882021 |
DIRECTORS
AS ON 22.08.2012
|
Name : |
Mr. Byong Dae Park |
|
Designation : |
Managing Director |
|
Address : |
Flat No.610A, Tenth Floor, Aralias, DLF Golf Links, Gurgaon – 122002,
Haryana, India |
|
Date of Birth/Age : |
14.02.1959 |
|
Date of Appointment : |
16.04.2009 |
|
DIN No.: |
02606590 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31900DL1995PTC071387
|
SAMSUNG INDIA
ELECTRONICS PRIVATE LIMITED |
Managing
director |
21/12/2011 |
16/04/2009 |
Active |
NO |
|
Name : |
Mr. Ravinder Zutshi |
|
Designation : |
Whole Time Director |
|
Address : |
C-215, Sector 44, Noida – 201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
19.12.1954 |
|
Date of Appointment : |
25.05.2005 |
|
Date of Cessation : |
12.10.2012 |
|
DIN No.: |
00520290 |
|
|
|
|
Name : |
Jae Hyun Kyung |
|
Designation : |
Whole Time Director |
|
Address : |
D151A, Second Floor, Defence Colony, New Delhi – 110024, India |
|
Date of Birth/Age : |
09.02.1964 |
|
Date of Appointment : |
01.02.2010 |
|
Date of Cessation : |
15.04.2013 |
|
DIN No.: |
02918759 |
|
|
|
|
Name : |
Wan Soo Kim |
|
Designation : |
Whole Time Director |
|
Address : |
Yire Exim Hotels Private Limited, S-3789 (G.F), Panchsheel Park, New
Delhi – 110017, India |
|
Date of Birth/Age : |
27.08.1961 |
|
Date of Appointment : |
24.02.2012 |
|
Date of Cessation : |
15.04.2013 |
|
DIN No.: |
05195243 |
|
|
|
|
Name : |
Soon Young Lee |
|
Designation : |
Director |
|
Address : |
112, Dong, 1202, HO Sinmaetan Wevhaneichae Apartment, Maetan 3, Dong
Ypungtong Gu, Suwon City, Kyunggi Do, Korea-443751 |
|
Date of Birth/Age : |
17.05.1960 |
|
Date of Appointment : |
20.05.2011 |
|
Date of Cessation : |
12.10.2012 |
|
DIN No.: |
03527809 |
|
|
|
|
Name : |
Kyung Jin Kim |
|
Designation : |
Director |
|
Address : |
No. 102, B108, Gangnam Apartment, Geumgok Dong, Cownseon-Gu, Suwon-51,
Korea-441746 |
|
Date of Birth/Age : |
09.11.1963 |
|
Date of Appointment : |
20.05.2011 |
|
Date of Cessation : |
12.10.2012 |
|
DIN No.: |
03527797 |
|
|
|
|
Name : |
Mr. Jung Hyun Nam |
|
Designation : |
Additional Director |
|
Address : |
Seongdongmaeul Sujijiai Apartment, 112-1304, 174, Seongbok2ro Suji-gu,
Youngin-sim Gyeonggi do-448791 |
|
Date of Birth/Age : |
29.04.1964 |
|
Date of Appointment : |
12.10.2012 |
|
DIN No.: |
05341752 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31900DL1995PTC071387
|
SAMSUNG INDIA
ELECTRONICS PRIVATE LIMITED |
Director |
01/08/2013 |
12/10/2012 |
Active |
NO |
|
Name : |
Mr. Eung Kyo Seo |
|
Designation : |
Whole Time Director |
|
Address : |
C-21, Westend, New Delhi-110029, India |
|
Date of Birth/Age : |
20.11.1964 |
|
Date of Appointment : |
15.04.2013 |
|
DIN No.: |
06484339 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31900DL1995PTC071387
|
SAMSUNG INDIA
ELECTRONICS PRIVATE LIMITED |
Whole-time
director |
01/08/2013 |
15/04/2013 |
Active |
NO |
|
Name : |
Mr. Hal Lin Jeong |
|
Designation : |
Director |
|
Address : |
1 Woosung Apartment, 7-206, 42, Olympic Ro 4-Gil, Songpa-Gu, Seoul
Metropolitan-138773 |
|
Date of Birth/Age : |
21.11.1964 |
|
Date of Appointment : |
12.10.2012 |
|
DIN No.: |
05340523 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31900DL1995PTC071387
|
SAMSUNG INDIA
ELECTRONICS PRIVATE LIMITED |
Director |
01/08/2013 |
12/10/2012 |
Active |
NO |
|
Name : |
Mr. Sunil Kumar Goel |
|
Designation : |
Director |
|
Address : |
T-6, Prasad Nagar, New Delhi-110005, India |
|
Date of Birth/Age : |
07.02.1961 |
|
Date of Appointment : |
12.10.2012 |
|
DIN No.: |
06400432 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31900DL1995PTC071387
|
SAMSUNG INDIA
ELECTRONICS PRIVATE LIMITED |
Whole-time
director |
01/08/2013 |
12/10/2012 |
Active |
NO |
|
Name : |
Mr. Ookki Kim |
|
Designation : |
Director |
|
Address : |
Yonb Bin Kwan Hotels, No.171, Sri Ram Nagar, Namili Road,
Sriperumbudur, Kansheepuram Taluk, Kacheepuram-602105, Tamilnadu, India |
|
Date of Birth/Age : |
03.10.1961 |
|
Date of Appointment : |
12.10.2012 |
|
DIN No.: |
05341135 |
Other Directorship:
|
S. No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31900DL1995PTC071387
|
SAMSUNG INDIA
ELECTRONICS PRIVATE LIMITED |
Whole-time
director |
01/08/2013 |
12/10/2012 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Baweja |
|
Designation : |
Secretary |
|
Address : |
B-221, Sector 55, Noida-201301, |
|
Date of Birth/Age : |
26.04.1975 |
|
Date of Appointment : |
18.05.2007 |
|
Election Commission Identity Card No. |
FJF4125100 |
|
PAN No : |
AHMPB0514F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.08.2012
|
Names of Shareholders |
No. of Shares |
|
Samsung Electronics Company Limited, Korea |
216787486 |
|
Samsung Asia Pte Limited, Singapore |
18 |
|
TOTAL
|
216787504 |
AS ON 22.08.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
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 : |
Subject is engaged in manufacturing and trading of Audio Visual
products, Home Appliances, Information Technology products and Hand Held
Phones and development and export of software. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity *
@ |
Actual
Production |
|
Color Televisions |
Nos. |
4050 |
3153143 |
|
Color Monitors |
Nos. |
750 |
508591 |
|
Washing Machines |
Nos. |
900 |
792211 |
|
Refrigerators |
Nos. |
1110 |
1556040 |
|
Mobile Phone |
Nos. |
11400 |
-- |
|
Air Conditioner |
Nos. |
1740 |
1024718 |
|
Hand Held Phones |
Nos. |
-- |
9941834 |
* As certified by
the management and accepted by auditors, being a technical matter
@ On single shift
basis, except in case of Mobile Phones where it is based on triple shift basis.
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building 8, 7th and 8th Floor, Tower-B, DLF, |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
244000000 |
Equity Shares |
Rs.10/- each |
Rs. 2440.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
216787504 |
Equity Shares |
Rs.10/- each |
Rs. 2168.000
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 |
|
2168.000 |
2168.000 |
|
(b) Reserves & Surplus |
|
10294.000 |
6682.000 |
|
(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) |
|
12462.000 |
8850.000 |
|
|
|
|
|
|
(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 |
|
261.000 |
173.000 |
|
(d) long-term
provisions |
|
5687.000 |
3216.000 |
|
Total Non-current
Liabilities (3) |
|
5948.000 |
3389.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1540.000 |
5165.000 |
|
(b) Trade
payables |
|
27488.000 |
20816.000 |
|
(c) Other
current liabilities |
|
2866.000 |
2619.000 |
|
(d) Short-term
provisions |
|
3453.000 |
1781.000 |
|
Total Current
Liabilities (4) |
|
35347.000 |
30381.000 |
|
|
|
|
|
|
TOTAL |
|
53757.000 |
42620.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
11559.000 |
8814.000 |
|
(ii)
Intangible Assets |
|
47.000 |
21.000 |
|
(iii)
Capital work-in-progress |
|
61.000 |
177.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
1347.000 |
659.000 |
|
(d) Long-term Loan and Advances |
|
484.000 |
869.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
13498.000 |
10540.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
19855.000 |
16188.000 |
|
(c) Trade
receivables |
|
11640.000 |
10144.000 |
|
(d) Cash
and cash equivalents |
|
4438.000 |
278.000 |
|
(e)
Short-term loans and advances |
|
3521.000 |
4461.000 |
|
(f) Other
current assets |
|
805.000 |
1009.000 |
|
Total
Current Assets |
|
40259.000 |
32080.000 |
|
|
|
|
|
|
TOTAL |
|
53757.000 |
42620.000 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2167.875 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5920.965 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
8088.840 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
900.000 |
|
|
TOTAL BORROWING |
|
|
900.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8988.840 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4397.988 |
|
|
Capital work-in-progress |
|
|
2413.825 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
704.252 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
12128.621
|
|
|
Sundry Debtors |
|
|
8629.631
|
|
|
Cash & Bank Balances |
|
|
3306.959
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
4532.262
|
|
Total
Current Assets |
|
|
28597.473 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
22553.766
|
|
|
Other Current Liabilities |
|
|
1582.297
|
|
|
Provisions |
|
|
2988.635
|
|
Total
Current Liabilities |
|
|
27124.698 |
|
|
Net Current Assets |
|
|
1472.775
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8988.840 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
195346.000 |
148704.000 |
106876.031 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
99342.795 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
184689.000 |
144433.000 |
99342.795 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
10657.000 |
4271.000 |
7533.236 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
96.000 |
197.000 |
124.630 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10561.000 |
4074.000 |
7408.606 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
2677.000 |
2091.000 |
1403.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
7883.000 |
1984.000 |
6005.591 |
|
|
|
|
|
|
|
|
|
|
TAX |
4271.000 |
1223.000 |
1983.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
3611.000 |
761.000 |
4021.989 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
1355.872 |
1242.607 |
|
|
|
Software Exports |
|
2586.258 |
1864.825 |
|
|
|
After Sales Services Income |
|
341.867 |
157.085 |
|
|
|
Sales Support Income |
|
40.324 |
35.015 |
|
|
|
Miscellaneous Income |
|
137.082 |
53.300 |
|
|
|
Reimbursement of Marketing, Services and Other Expenses |
|
0.000 |
772.630 |
|
|
TOTAL EARNINGS |
NA |
4461.403 |
4125.462 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
|
38334.407 |
|
|
|
Finished Goods |
|
|
26427.627 |
|
|
|
Services Spares |
|
|
652.918 |
|
|
|
Capital Goods (including Capital Goods in Transit) |
|
|
2204.198 |
|
|
TOTAL IMPORTS |
NA |
94128.174 |
67619.150 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
16.66 |
3.51 |
18.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.85
|
0.51 |
3.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.06
|
4.75 |
18.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.63
|
0.22 |
0.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.12
|
0.58 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.06 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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] |
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 |
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: |
Manufacturing
and trading of Audio Visual products, Home Appliances, Information Technology
products and Hand Held Phones and development and export of software |
|
What is the
legal structure of the client? |
Subsidiary of a
parent co/Joint Venture |
|
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: |
Unsecured |
|
Amount of credit
facility: |
Unsecured :Rs.
1540.000 Millions |
|
Currency of
financial statements/data: |
INR Millions |
|
Annualized
revenues: |
Rs. 195346.000
Millions (Total Income) |
|
Annualized COGS: |
Rs. 184689.000
Millions (Total Expenses) |
|
Annualized
EBITDA: |
Rs. 10657.000
Millions |
|
Annualized net
income: |
Rs. 3611.000
Millions |
|
Cash balance: |
-- |
|
Marketable
Securities balance: |
------------ |
|
Accounts
Receivable balance: |
Rs. 11640.000
Millions |
|
Current Assets
balance: |
Rs. 40259.000
Millions |
|
Total assets
balance: |
Rs. 53757.000
Millions |
|
Current
Liabilities balance: |
Rs. 35347.000
Millions |
|
Long-Term Debt
balance: |
Rs. 0.000 Millions
|
|
Equity balance: |
Rs. 12462.000
Millions |
|
Net cash
provided by operating activities: |
Rs.13144.000
Millions |
|
Date of client's
financial data populated: |
31.03.2012 |
|
Financial
information provided above audited? |
Yes |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Term Loans From Banks |
1540.000 |
2243.000 |
|
Working Capital Loans From Banks |
0.000 |
2922.000 |
|
|
|
|
|
TOTAL |
1540.000 |
5165.000 |
NOTE
Registered office of the company has been shifted from Suites No.101-103, 1st Floor, Copia Corporate Suites, Plot No.9, Jasola District Centre, New Delhi – 110025, Delhi, India, to the present address w.e.f. 21.03.2011.
GENERAL INFORMATION
Subject is engaged
in manufacturing and trading of Audio Visual products, Home Appliances,
Information Technology products and Hand Held Phones and development and export
of software. The Company has manufacturing plants in India and sells primarily
in India through a network of dealers and distributors.
PERFORMANCE
The Company
clocked an increase of 31.37% in its Sales and other Income for the year ended
31st March, 2012 as compared to the previous year. During the period
the company was able to achieve terrific profitability on account of more
efficient product mix with the profit before tax increasing by 297.33% and the
profit after tax increasing by 374.51% as compared to the previous year.
The Company became
a strong No.1 in Smart phones and retained its market leadership in Panel TVs.
The Company became the No.1 Aspirational Brand in 2011 and was ranked as the
Most Trusted Consumer Durable brand in India by Economic Times.
A global market
leader in flat-panel TVs, the Company retained its market leadership in India
by pioneering the introduction of 3D TVs in India. In Digital Imaging too, the
Company launched products innovative digital cameras with smart capabilities,
including the unique MV800 camera with a rotating flip-out touch screen; and
the 14.2 megapixel high-resolution WB150F camera with Wi-Fi (DLNA) features.
The Company
launched a new range of BEE star rated Split Air conditioners that ensure
significant energy savings along with Triple protection through Clean Air,
Uninterrupted Comfort and Powerful cooling. The Company launched the new range
of Frost Free Refrigerators incorporating the Digital Inverter Compressor
(DIC), with a 10 year warranty, making it a world’s first for refrigerators.
DIC utilizes a smart controller and five convenient RPM speeds, delivering up
to 40% more energy efficiency as well as maximize the freshness of food, while
preserving the environment. The new refrigerator range has been well accepted
by consumers. Further, the Company strengthened its presence in the fully
automatic washing machine segment due to its Eco Bubble and Wobble technologies
that make Samsung washing machines easier to use, more energy efficient and
increasingly eco-friendly bringing a higher level of user experience to daily
tasks and households.
The Company
strengthened its presence in the fast growing Mobile and tablet segments by
introducing innovative world first devices like the Galaxy Note and the world
thinnest tablets, Galaxy tab 750 and 730 in the Indian market. A series of
innovative Smartphone launches on the android, windows and our proprietary bada
platform, like the Galaxy y; India’s first Windows 7.5 platform based Omnia and
bada 2.0 OS based Wave III enabled the Company to achieve Smartphone leadership
in value terms in the Indian market in November last year. The Company has
since then consolidated its leadership both in volume and value terms in the
Indian market. The launch of these Smart Mobile devices was supplemented with
an investment of about Rs 3,558 (million) in our mobile manufacturing facility,
tripling the production capacity. Beyond the installation of new production
lines, the Company also recruited an additional 1500 employees at the factory
to support the production capacity expansion.
The Company also
sustained its growth in the IT segment by launching new range of Notebook PCs,
net books, Ultrabooks and expanding its Note PC channel in the country. In the
printer segment, the Company continued to offer a full line of eco-friendly and
cost-effective mono-laser printers and multifunctional printers. To fully
leverage the synergies in terms of its IT and telecom businesses, the Company
constituted an integrated B2B team to sell its products like Large Format
displays, thin clients, net books /notebooks and tablets .
In 2011, The
Company won several awards and recognitions for both its corporate initiatives
as well as its innovations across its product categories. The Company was
awarded the Consumer Durable Company of the year at the NDTV Profit Business
Leadership Awards in recognition of the company’s various initiatives and
innovations. The Company was named as the Tablet Company of the year at the
Voice and Data Awards. The Bureau of Energy Efficiency too awarded the Company
as the best Manufacturer of Star Labeled Appliances in the Air Conditioner
category based on the criteria of the number of star labeled products sold, the
energy savings achieved and the growth in sales of energy efficient products
over the previous year.
The Company made a
clean sweep at the NDTV Gadget Guru Awards by winning in four prestigious
categories across the mobile and TV categories. Both the Asian Photography and
Golden Peacock Award was presented to the Multi view MV800 digital still camera
for being the Best Innovation for 2011.
The Company won
the prestigious 2012 Golden Peacock Award for Corporate Social Responsibility
for the second consecutive year for its Corporate Citizenship and Community
Affairs initiatives undertaken through Samsung Hope Project that address
education, sports, culture and environment management programs . Some of the
notable projects undertaken in 2011 included the expansion of the Samsung Hope
for Children program with the launch of a new e learning center at Kolkata; Hope
Project with Aid India and Smile Foundation that aims at providing good quality
education to under privileged children and creating an environment which is
conducive to their overall growth and development. Through these various
programs the Company has reached out to over 50,000 children across Tamil Nadu,
Delhi, Kolkata, Ahmedabad, Chennai and Uttar Pradesh. Samsung Hope Project
received a letter from Dr. Abdul Kalam, Former President of India who wrote in
appreciation of Samsung India’s effort in undertaking this initiative.
The Samsung Hope
Project also partnered with leading educational and media agencies to support
grassroots innovations under the Innovations for development of the community
program. The Company instituted three programs: Samsung Innovation Award with
Indian Institute of Technology (IIT), Samsung Scholarship with Indian Institute
of Management (IIM) and Samsung Innovation Quotient with CNBC which invites
creative minds - be it students or entrepreneurs - to submit their innovations
that develop novel approaches and improvise on existing processes to spearhead
change and benefit the society at large.
Under the Hope for
Culture program, the Company organized the second edition of the Tagore
Literature Awards in Mumbai to felicitate the best literary contributions in 8
regional languages, followed by the Samsung Women?s International Film Festival
in Chennai that aims at giving a voice and expression to the perspective of
women and celebrates her spirit through the medium of Cinema. In addition, our
sponsorship of the Indian Olympic Team along with the Samsung Olympic Ratnas
for the London 2012 Olympics will serve to enhance the Company’s reputation and
earn goodwill for the brand.
The Company shall
continue to make rapid strides towards its goal of becoming a Top Electronics
Company in the Indian market.
FIXED ASSETS
·
·
Buildings
·
Leasehold Improvements
·
Plant and Machinery
·
Office Equipment
·
Computers
·
Furniture and Fixtures
·
Vehicles
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 : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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.