MIRA INFORM REPORT
|
Report Date : |
16.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PHILIPS ELECTRONICS INDIA LIMITED |
|
|
|
|
Registered
Office : |
7, Justice Chandra Madhab Road, Kolkata – 700020, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.01.1930 |
|
|
|
|
Com. Reg. No.: |
21-006663 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.575.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31902WB1930PLC006663 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP17956B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP9487A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electronic Products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a
subsidiary of Koninklijke Philips electronics
n.v. a multinational
entertainment giant. It is a well
established company having good track record. Financial position of the company
appears to be sound. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA (Long Term Rating) |
|
Rating Explanation |
High degree of safety it carry very low credit risk |
|
Date |
10.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
Highest degree of safety it carry lowest credit risk. |
|
Date |
10.12.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non Co-operative (91-124-4606000)
LOCATIONS
|
Registered Office / Eastern Regional Office: |
7, Justice
Chandra Madhab Road, Kolkata – 700020, West Bengal, India |
|
Tel. No.: |
91-33-24753621/24753627/24964560/26912000
/ 24867123 |
|
Fax No.: |
91-33-24753839/24938722/26912499 |
|
E-Mail : |
|
|
Website : |
www.india.philips.com |
|
Location : |
Owned |
|
|
|
|
Corporate Office / Northern Regional Office : |
9th Floor, DLF
9-B, DLF Cyber City, Sector 25, DLF Phase - 3, Gurgaon - 122002, India |
|
Tel. No.: |
91-124-4606000 |
|
Fax No.: |
91-124-4606666 |
|
|
|
|
Regional
Offices / Branch : |
Mumbai Technopolis Knowledge Park, Mahakali Caves Road, Chakala, Andheri (East), Mumbai - 400 093, Maharashtra, India Tel.:
91-22-6691 2000 Fax
: 91-22-6691 2499 Bangalore
Temple Towers - 5th Floor, Old No. 476, New No. 672, Anna
Salai, Nandanam, Chennai – 600035, Tamilnadu, India Tel.
91-44-66501000 MFAR
Manyata Teck Park, Nagavara, Bangalore – 560045, Karnataka, India Tel.
91-80-41890000 The Estate, 4th Floor (North Wing),
(Next to Manipal Centre), 121, Dickenson Road, Bangalore – 560042, Karnataka,
India Tel
No.: 91-80-66929898 Hyderabad 6-3-1109/1/P/103, 3rd Floor,
Jewel Pawani Towers, Raj Bhavan Road, Somajiguda, Hyderabad – 500082, Andhra
Pradesh, India Tel
No.: 91-40-66467676 |
DIRECTORS
As on: 04.09.2012
|
Name : |
Mr. Susim Mukul Datta |
|
Designation : |
Director |
|
Address : |
No. 104 Bakhtawar, Lower Colaba Road, Opposite Colaba Post Office,
Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1936 |
|
Date of Appointment : |
31.03.1993 |
|
DIN No.: |
00032812 |
|
|
|
|
Name : |
Mr. Rajeev Chopra |
|
Designation : |
Managing director |
|
Address : |
D-939, New Friends Colony, New Delhi – 110065, India |
|
Date of Birth/Age : |
22.03.1963 |
|
Date of Appointment : |
01.01.2011 |
|
DIN No.: |
03396723 |
|
|
|
|
Name : |
Mr. Jan Hendrik Gerardus Louwman |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 403, The Aralias DLF Golf Links, Golf Course Road, Gurgaon –
122001, Haryana, India |
|
Date of Birth/Age : |
16.09.1965 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
03038202 |
|
|
|
|
Name : |
Mr. Subramanian Venkataramani |
|
Designation : |
Director |
|
Address : |
A 14/14, First Floor, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
16.06.1946 |
|
Date of Appointment : |
13.03.2009 |
|
DIN No.: |
00231228 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Jivanlal Wani |
|
Designation : |
Secretary |
|
Address : |
A-13, Jai-Kirti Co-operative Housing Society – 76, Turel Pakhadi Road,
Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
14.12.1958 |
|
PAN No.: |
AAAPW3553A |
|
Date of Appointment : |
14.02.1996 |
MAJOR SHAREHOLDERS
Major Shareholders – Not Available
Equity Share Break up (Percentage of Total Equity)
As on: 04.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
96.19 |
|
Bodies corporate |
0.08 |
|
Other top fifty shareholders |
0.44 |
|
Other |
3.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electronic Products. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
|
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
KMPG House, Kamala Mills Compound, 448, Senapati Bapat
Marg, Lower Parel, Mumbai – 400 013, |
|
PAN.: |
AAASK1415H |
|
|
|
|
Holding and
ultimate holding company : |
Koninklijke Philips Electronics N.V |
|
|
|
|
Subsidiary
Company : |
|
|
|
|
|
Overseas Fellow
Subsidiary Companies: |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
92000000 |
Equity Shares |
Rs.10/- each |
Rs.920.000 Millions |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
Total |
|
Rs.1120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
57517242 |
Equity Shares |
Rs.10/- each |
Rs.575.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 (15 Months) |
31.12.2010 (12 Months) |
31.12.2009 (12 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
575.000 |
575.000 |
575.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9402.000 |
8231.000 |
7476.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9977.000 |
8806.000 |
8051.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
170.000 |
102.000 |
105.000 |
|
|
2] Unsecured Loans |
2133.000 |
0.000 |
45.000 |
|
|
TOTAL BORROWING |
2303.000 |
102.000 |
150.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12280.000 |
8908.000 |
8201.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3703.000 |
3282.000 |
3287.000 |
|
|
Capital work-in-progress |
269.000 |
242.000 |
176.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1000.000 |
0.000 |
5.000 |
|
|
DEFERREX TAX ASSETS |
462.000 |
363.000 |
352.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5362.000
|
4131.000
|
3608.000
|
|
|
Sundry Debtors |
7044.000
|
4161.000
|
3167.000
|
|
|
Cash & Bank Balances |
1416.000
|
4018.000
|
4251.000
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
5609.000
|
3451.000
|
2840.000
|
|
Total
Current Assets |
19431.000
|
15761.000
|
13866.000
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7539.000
|
7521.000
|
7294.000
|
|
|
Other Current Liabilities |
3129.000
|
1335.000
|
449.000
|
|
|
Provisions |
1917.000
|
1884.000
|
1742.000
|
|
Total
Current Liabilities |
12585.000
|
10740.000
|
9485.000
|
|
|
Net Current Assets |
6846.000
|
5021.000
|
4381.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12280.000 |
8908.000 |
8201.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 (15 Months) |
31.12.2010 (12 Months) |
31.12.2009 (12 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
55488.000 |
37002.000 |
32527.000 |
|
|
|
Other Income |
130.000 |
156.000 |
137.000 |
|
|
|
TOTAL (A) |
55618.000 |
37158.000 |
32664.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
-- |
21834.000 |
18980.000 |
|
|
|
Consumption materials changes inventories |
31583.000 |
-- |
-- |
|
|
|
Expenses |
-- |
13080.000 |
11238.000 |
|
|
|
Manufacturing service costs |
2811.000 |
-- |
-- |
|
|
|
Exceptional Items |
(41.000) |
(74.000) |
(162.000) |
|
|
|
Employee related expenses |
7174.000 |
-- |
-- |
|
|
|
Administrative selling other expenses |
10473.000 |
-- |
-- |
|
|
|
Research development expenditure |
689.000 |
-- |
-- |
|
|
|
Prior Period Expenses |
-- |
92.000 |
0.000 |
|
|
|
TOTAL (B) |
52689.000 |
34932.000 |
30056.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2929.000 |
2226.000 |
2608.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
96.000 |
39.000 |
51.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2833.000 |
2187.000 |
2557.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
979.000 |
754.000 |
707.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1854.000 |
1433.000 |
1850.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
516.000 |
544.000 |
675.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
1338.000 |
889.000 |
1175.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4350.000 |
3684.000 |
2762.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
301.000 |
89.000 |
118.000 |
|
|
|
Proposed Equity Dividend |
|
115.000 |
115.000 |
|
|
|
Tax on proposed equity dividend |
|
19.000 |
20.000 |
|
|
BALANCE CARRIED
TO THE B/S |
5387.000 |
4350.000 |
3684.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1033.000 |
482.000 |
|
|
|
Service revenue |
NA |
3017.000 |
2580.000 |
|
|
TOTAL EARNINGS |
NA |
4050.000 |
3062.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1038.000 |
698.000 |
|
|
|
Stores & Spares |
NA |
28.000 |
28.000 |
|
|
|
Capital Goods |
NA |
324.000 |
250.000 |
|
|
TOTAL IMPORTS |
NA |
1390.000 |
976.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.26 |
15.46 |
18.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 (15 Months) |
31.12.2010 (12 Months) |
31.12.2009 (12 Months) |
|
PAT / Total
Income |
(%) |
2.41
|
2.39
|
3.59
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.34
|
3.87
|
5.68
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.01
|
7.53
|
10.78
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.16
|
0.22
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23
|
0.01
|
0.02
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54
|
1.47
|
1.46
|
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 |
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 |
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 |
Yes |
DETAILS OF
LITIGATIONS
|
CALUCUTTA HIGH COURT CASE STATUS INFORMATION SYSTEM |
|||||
|
Case Status :
Pending |
|||||
|
|
|
||||
|
Commissioner of
Central Excise, Kolkata
VS M/SPHILIPS ELECTRONICS INDIA LIMITED |
|||||
|
|
|
||||
|
Pet’s Adv: |
Shampa Sarkar |
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Court No.: |
2 |
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Last Listed on: |
Wednesday, June 24. 2009 |
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Category: |
Excise : Revenue |
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Case Updated On: Friday, June 26, 2009 |
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BUSINESS PERFORMANCE
The Notes to the Profit and Loss Account for the year provide segment results. The required disclosure is made below for the Lighting, Consumer Lifestyle, Innovation Campus (Software) and Healthcare Sectors.
LIGHTING
The Sector grew by 14% in the first 12 months ending December 31, 2011 and 16% in the first quarter of 2012 over corresponding period of previous year, making it the eighth consecutive year of double digit growth. The growth was driven by continued channel expansion and increased extraction from the existing channels in the consumer segment, increased LED penetration and some big wins in the professional segment. The year 2011-12 witnessed strong performance in conventional lamps, tube light and compact fluorescent lamps categories with
an average annualised growth of 13%. Driving efficiencies in distribution, increased reach in semi urban markets, planned channel expansion, and focussed marketing were the key contributor for the growth in this segment. Localisation of Electronic Ballasts and the launch of a better value proposition product ‘Sumo Ultra’ led to an annualised growth of 21.6% in Lighting Electronics. The year witnessed phenomenal growth in LED, Main Stream Battens, Lighting Controls and some big wins in Office and Industry Segments. Continued focus in expanding locally relevant LED portfolio resulted in the successful launch of 24 types of LED/Solar product/families during the current period. The Company’s LED share in Professional Luminaires business now stands of 14% as of first quarter of 2012.
During the period the Sector started the business of Lighting Controls, leveraging integration opportunities from the Philips global acquisition of Dynalite Lighting Controls. Great progress has been made in this business with total Sales of Rs. 164 Million in the current period. Consumer Luminaires business continued the growth momentum during 2011-12. Addition of twenty eight new brand retail stores across India and improving the efficiency of existing stores are the key success factor for the growth of this category. Besides, focused marketing activities and continued investments in advertising and promotions to build category awareness and association have aided this growth.
Philips Lighting India received the prestigious ‘Leadership Role Model” award for market leadership, showing entrepreneurial spirit and being a role model, at the inaugural Philips Accelerate! CEO Awards presented at the Global Leadership Summit in May, 2011. Automotive Lighting business in India received a Special Award from Maruti Suzuki India for the quality of services and support provided to them as one of their vendors.
In 2012-13 the Sector will focus on the B2B sector through segment based marketing and LED and other energy efficient solution to increase its market presence. The Sector will also focus on Consumer segment by continuing to drive energy efficient home lighting and Consumer Luminaires.
CONSUMER LIFESTYLE
In 2011 the sector continued to focus on strengthening market share in key categories such as Home Cinema Systems, Kitchen Appliances, Garment Care and Hair Care and Grooming segments. These categories combined enjoyed a growth of 15% in 2011. In Lifestyle Entertainment (LE), they continued their leadership position in DVD since last year and a half, and in Home Cinema Systems, Philips strengthened its share, becoming a strong #2 player in the market, by focusing on the 3D angled speakers portfolio. In mainstream audio segment, they maintained their market share in line with market development. During the last 12 months the Company received the “Best Audio System of the Year” award from NDTV Tech Life.
In Domestic Appliances, they strengthened their market share and insights in Kitchen Appliances by launching products relevant for local tastes and behaviour patterns. In Garment Care, they strengthened their leadership position by increasing their share by driving conversion of dry to steam irons and a strong marketing campaign which accelerated category growth. they continued to build the category of Personal Care in India through integrated media campaign for Hair Care and Grooming.
Their goal remains to grow faster than the market in the coming years by strengthening market shares in the key categories: DVD, Home Cinema Sound, Kitchen Appliances, Garment Care, Hair Care and Grooming. The Company remains committed to launch new and relevant products in the coming years which not only suits the local consumer tastes but also meets the fast changing lifestyle needs of the Indian consumers. One such launch is the launch of Philips Airfryer in May 2012. The AirFryer is equipped with Philips’ patented Rapid Air Technology that uses fast-circulating hot air to create fried food containing up to 80 per cent less fat and is a healthy alternative to traditional frying. The Airfryer significantly reduces the need of oil for cooking a vast array of Indian dishes and make it possible to cook using just hot air. Additionally Consumer Lifestyle continued to focus on building talent, competencies and processes to drive sustainable profitable growth through relevant and profitable portfolio choices.
HEALTH CARE
The Healthcare business in India grew by 31% in the period ended March 31, 2012. This growth was primarily driven by a growth of 45% in diagnostic imaging systems. Ultrasound business grew by 12% and patient monitoring grew by 17% during the period. Service revenuesregistered a growth of 25% during the period. In 2011 they established a world class “Customer Care Service Centre” in Chennai moving from corrective to predictive maintenance by virtue of which they are experts in remote resolutions and have significantly reduced downtime.
Philips Healthcare India has increased its market share further during the period across all product categories. They are the market leaders in Patient monitoring, Cardiovascular, Defibrillators and High end MR and CT (source: COCIR). New products were introduced in Patient monitoring, Anaesthesia machines , Ultrasound machines (Clearvue series- Innovative technology at low operating costs with low energy needs) , MRI ( HiFU- breakthrough technology to treat uterine fibroids and other tumours non-invasively, Ingenia – first fully digital broadband MRI system) , CT (Ingenuity- Low dose , high throughput CT system) and nuclear medicine (Ingenuity TOF- Breakthrough technology to view the smallest of lesions in oncology, PET MR- Hybrid system that offers best in class technology in PET combined with the best tissue imaging in MR). As a part of their strategic initiatives, they launched healthcare informatics which will help in enhancing the clinical capabilities of their clinicians by providing relevant information anytime, anywhere.
Philips Healthcare received the Frost and Sullivan award for the Best Cardiology Treatment Company of the year 2011. As per the results of the 2012 Heartbeat Survey, there has been a significant change in the brand perception of Philips Healthcare in India. Philips is today perceived as the Most Exciting Brand in Healthcare in India. They have moved up from #3 until last year to become CO-LEADER with key competitors in Brand Preference in India. They have moved up to become #1 in Top of Mind and Unaided Awareness in India. They are partnering with RAD-AID and Post Graduate institute of medical research on a Women’s Healthcare Outreach Program for breast cancer screening. Business financing continues to contribute significantly to the business growth.
The Company has begun production at a newly constructed healthcare facility at Chakan near Pune. This facility is the first in the country to expand by offering low cost interventional imaging systems. It will produce imaging systems for cardiology and radiology application mainly to serve smaller hospitals in the country. A research and development centre has also been set up at Pune.
INNOVATION CAMPUS
(PIC)
Philips Innovation Campus (PIC) based at Bangalore initially started as a software center and has now developed into a product development center with focus on delivering meaningful innovations for local and global markets. The recently launched ‘Clearvue’, a range of ultrasound products bears testimony to this. In 2011 PIC expanded its area of expertise further in Lighting R and D.
A Center of ‘Competence for Mobility’ was established in PIC, recently, to extend the capabilities in Healthcare, Lighting and Consumer Lifestyle to mobile platforms. It has already unveiled three mobile applications developed in the Healthcare, Lighting and Lifestyle sectors. ‘Sanjivini’, a healthcare mobile application platform, helps simplify the collection of patient information by the healthcare workers in rural areas, providing a crucial link to the improved delivery of healthcare. ‘Envision’, a lighting application that helps users to control lighting in their homes/offices remotely. ‘Air Studio’ an iPhone/iPad application streams music/photos/videos wirelessly from iPhone, iPad, PC/MAC to Philips network connected players. Sales (Export in Foreign Currency) amounted to Rs.4.6 billion in 2011-12(for 15 months) - (Rs.2.7 billion in 2010). PIC’s average employee strength during 2011-12 was 1466 Full Time Equivalents (1198 in 2010). During the year, personnel in the Healthcare, IT Applications and Lighting increased. In2012, PIC will see a growth in activities in all the sectors, with healthcare in the lead. ’In India for India’ initiatives will be ramped up. Together with other development centers in India and China, PIC will play a critical role in expanding the footprint of Philips in emerging markets.
UNSECURED LOAN:
(Rs. In Millions)
|
Particulars |
As
on 31.03.2012 (15
Months) |
As
on 31.12.2010 (12
Months) |
|
Working capital loans |
2133.000 |
0.000 |
|
Total |
2133.000 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10333948 |
26/12/2011 |
1,000,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, JAWAHAR VYAPAR BHAWAN, 11TH AND 12TH FLOOR, 1 TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B31429764 |
* Date of charge modification
FIXED ASSETS:
- Software
- Land
- Buildings
- Leaseholds
- Land
- Improvements
- Other assets
- Machinery and equipment
- Furniture and fittings
- Vehicles
AS PER WEBSITE
PRESS RELEASES
STYLE ICON JOHN
ABRAHAM UNVEILS 'MPOWER - THE NEW MALE GROOMING RANGE FROM PHILIPS
M ay 16, 2013
New Delhi, India – Philips, India's leading lifestyle brand, today took the concept of male grooming to the next level by launching M POWER, an iconic male grooming and styling range. Unveiled by John Abraham, Bollywood actor and Philips Male Grooming brand ambassador, the MPOWER range is designed to help Indian men make the shift from manual shaving to electrical grooming, in keeping with the technological advances in the male grooming space. The M POWER range includes trimming, facial styling and body grooming solutions and is an advanced, skin-friendly and convenient solution to every man's grooming needs.
Aarushi Agarwal, Director Marketing, Personal Care, Consumer Lifestyle, Philips India, said, "Men today start their grooming journey at an early age and adapt their styling needs to different stages of life. Philips' new MPower range is designed to empower every user whether he is 15 or 50 years old to experiment with his look, be confident and better express himself.
"As the creator of the male grooming category in India, Philips is very conscious of the evolving needs of its consumers. We take it as our responsibility to be partners in their evolution journey and bring innovations that are relevant and current, supported by the latest in technology , which are also skin friendly', she added.
Philips has been at the helm of the style revolution in India and has
introduced marquee products based on deep consumer insight, be it the Grooming
kit that caters to all your facial styling needs, or the Philips Body Groom
that started the body-grooming revolution in India in 2012. With the new MPower
range, Philips will reach out to the entire spectrum of users- from the first
time trimmer to an evolved user.
As a style icon known for experimenting with different looks, John
Abraham, Bollywood actor and Philips Male Grooming brand
ambassador adds, "A well-built body and an overall well-groomed
personality have now become the benchmark for one's style quotient. In recent years,
there has been a huge style revolution among men and they have started taking
their grooming very seriously. Till a few years back, grooming was restricted
to special occasions. But today, men want to look good and well-groomed every
day."
Men's grooming products are a key focus area of growth for Philips Consumer
Lifestyle division in India. Personal Care, specifically the male grooming
portfolio, has been the fastest growing category for Philips in India recording
tremendous growth last year. Philips is looking at serving the urban male, who
is spending a lot of time and money on his appearance and lifestyle and wants
more from his grooming gadgets.
According to the findings of a recent Philips research survey, 65% of the
overall male respondents believe that different occasions called for different
facial styles ranging from clean shaven to stubble, goatee, soul patch et al.
Nearly 54% women respondents in the age-group of 21-25 years find men with
styled facial hair more attractive. When it comes to body hair, 70% women would
like their men to have no body hair or at least trim them and 80% men have
already tried different ways of removing body hair, ranging from shavers to
trimmers and body-groomers. The survey clearly indicates that men are looking
for a solution that can provide them head-to-toe styling, in order to keep
themselves and their partners happy. And this insight has been instrumental in
the genesis of MPower Ultimat, a multi-grooming tool, which promises to cater
to all grooming needs of the modern man. The survey also reveals that the age-
group of men who are taking up facial styling and grooming has lowered
significantly and 43% males have started their experimentation with grooming by
using a trimmer. The MPower Play, the advanced trimmer from the MPower range,
is designed to be every boy's first step into grooming.
Skin-friendliness, however, remains the most important aspect of the MPower
range and is completely in sync with the fears of today's men. Interestingly,
the Philips survey reveals that that 37% men are dissatisfied with most
products in the market and are more concerned about skin irritation, than about
nicks and cuts. Also contrary to popular belief, 41% men would prefer a
skin-friendly grooming gadget, while only 17% wanted a fast and easy one.
New age products also call for new age marketing, which connects with the
consumer and has never been seen before. Hence, there is a need for multi-touch
point, multi-facetted activations. Keeping this in mind, Philips has been
deploying creative marketing tools to reach out to their consumers including
augmented reality apps, live-mannequins for in-store demonstrations, style
guides to help create different looks, creative campus activations and TVCs.
Digital media has been a key lever for growth for Philips Personal Care with
their fan base increasing from 60,000 fans in 2010 to 960,000 fans in
2013.
DISCLAIMER OF PHILIPS
ELECTRONICS INDIA LIMITED AGAINST FRAUDULENT CORRESPONDENCE
April 8, 2013
Philips Electronics India Limited (hereinafter refer to as “Philips”) would like to draw the attention of its esteemed existing and prospective customers and members of the general public at large to the fraudulent and deceitful activities of individuals by the name of Hamit Singh or Puran or by any other name, posing as employees of Philips who are using Philips name and its logo just to deceive, defraud and cheat customers and the general public and to extract money from them in the name of false job offers and interviews without any authority from Philips. It has come to our attention that these fraudsters are also inviting member of general public for interview and to deposit certain amount in some bank account by way of letters on the letterheads of Philips. By these letters, these unauthorized people are also demanding for the personal information of people appearing for interviews. It is also possible of them using other means for extracting money by the general public i.e by way of emails, fax, phone or text messages.
Please be noted that Philips has not authorized these correspondences and it
does not ask for any kind of security deposit from its candidate for appearing
in the interviews. Philips stronglycautions the public not to disclose any
information whether personal or financial or send money to anyone claiming to
represent Philips. Philips has its own way of recruiting its employees and
never asks for these information or money as security deposit. It follows the
recruitment formalities which are of international standards. Philips request its
customers and member of general public to use their utmost prudence with regard
to any suspicious correspondence, job offer, interview and demand for money.
NEW LIGHTING BY PHILIPS AT INDIA'S LARGEST STADIUM - SALT LAKE STADIUM
March 28, 2013
New Delhi – Philips, India's leading lighting company has reached yet another landmark in their journey with the largest stadium in India and the second largest in the world - the Salt Lake Stadium, Kolkata, by revamping the stadium's lighting. The stadium is now all geared up to host the opening ceremony of the IPL on April 2, 2013, offering an enhanced experience for all.
The Salt Lake stadium was first illuminated by Philips in 1984 for the
inaugural Nehru Gold Cup Football Championship, and now, after almost 30 years,
Philips was selected again for rejuvenating the stadium. According to,
Jyotishman Chatterjee, CEO, Salt Lake Stadium, "we are glad about our
decision to work with Philips for installing crisper, whiter and brighter
lights as per 'Class V' – the highest standards for lighting systems under the
FIFA guidelines. The lighting system installed will meet the needs of
broadcasters, spectators, players and officials without spilling light into the
environment and without disturbing the local community. One huge benefit of
this project is that the new lighting system will enable High Definition
transmission of events and matches which will take place in the stadium
henceforth".
Speaking on the occasion, Nirupam Sahay, President, Philips Lighting India,
said, "We are delighted to have won the project in the competitive bidding
and associate with Salt Lake stadium and Mackintosh Burn Limited to provide
state of the art lighting solution. Philips takes pride in enhancing the look
of heritage and iconic properties with its advanced lighting solutions. This
time we have given a new look to the Salt Lake Stadium, which is of the best of
international standards. With the new Arena Vision luminaires, we have
increased the illumination intensity without compromising on energy consumption
and light pollution".
The new lighting solution at the stadium has increased the illumination level
to 3500 lux, which is nearly thrice the previous lux level of 1200. The new
generation double ended short arc metal halide lamps that have been used have a
much higher Colour Rendering Index and Colour Temperature, making the lighting
installation suitable for HDTV telecast. Football is a popular game which has
international audience and this is a big step in the direction of making the TV
viewership of the matches a spectacular experience.
As a global leader in lighting, Philips has also to its credit the lighting of
other world-renowned sports sites. Philips Lighting has long pioneered lighting
innovation in sports, from the 1952 Olympic Games in Oslo, in Seoul 1988,
Barcelona 1992, Atlanta 1996, Sydney 2000, Athens 2004 and Beijing 2008. In
2006, World Cup Soccer finals 8 out of the 12 stadiums in Germany were lit by
Philips. Furthermore Philips Lighting has currently floodlit 70% of all UK
Premier League Clubs and 55% of the world's major football stadiums are lit by
Philip. Philips ArenaVision sports floodlighting system has been installed at
Soccer City, Ellis Park, Royal Bafokeng, Moses Mabhida, Peter Mokaba and Nelson
Mandela stadiums to name a few.
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.63.79 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
68 |
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.