MIRA INFORM REPORT
|
Report Date : |
15.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
L G ELECTRONICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A Wing, Third Floor, D-3, District Centre, Saket, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.01.1997 |
|
|
|
|
Com. Reg. No.: |
55-220109 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1131.290 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U32107DL1997PTC220109 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELL01185C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1745Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Televisions (FPD/LCD/LED, etc.), Air Conditioners, Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum Cleaners, Optical Disk Drive, Audio and Digital Video Display Systems, Monitors and GSM Mobiles. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 44700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of LG Korea. It is a well-established and reputed company having fine track record.
Financial position of the company is sound. Fundamentals of the company’s
are strong and healthy. The company is a market leader in most of the
segments in the consumer durables industry. Trade relations are fair. Business is active. Payments are reported to
be regular and as per commitment. The company can be considered good for normal for business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = AA+ |
|
Rating Explanation |
Strong degree of safety. It carry very low
credit risk. |
|
Date |
January 14, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A1+ |
|
Rating Explanation |
Strongest degree of safety. It carry lowest
credit risk. |
|
Date |
January 14, 2014 |
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[91-2138-661000 / 91-22-28352882]
LOCATIONS
|
Registered Office : |
A Wing, Third Floor, D-3, District Centre, Saket, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office/
Factory 1 : |
Plot No. 51, Udyog Vihar, Phase-II, |
|
Tel. No.: |
91-120-2560960/ 2560940/ 2560900 |
|
Fax No.: |
91-120-2560921 |
|
|
|
|
Factory 2 : |
Plot No. A-05, MIDC Ranjangaon, Taluka Shirur, Pune –
412220, |
|
|
|
|
Mumbai Showrooms : |
v
4th Floor, A Wing, Trade Star, J B Nagar, Tel. No.: 91-22-28352882 v
Manoshi Complex, Shop No 1, 2 and 3, Plot No 5
and 6, Sector 3, Opposite Ghansoli Railway Station, Ghansoli, Mumbai –
400701, v 207/208, 2nd Floor, A Wing, 215 Atrium, Opposite Sangam Cinema, Andheri Kurla Road, Andheri [East], Mumbai – 400059, Maharashtra, India Tel. No.: 91-22-67108001 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Soon Hwang Kwon |
|
Designation : |
Managing director |
|
Address : |
Flat No. 307, 3rd Floor, Jaypee Delcourt, Jaypee Greens,
Greater Noida, Gautam Budh Nagar - 201306, |
|
Date of Birth/Age : |
13.10.1958 |
|
Qualification : |
B.A. |
|
Experience : |
31 Years |
|
Date of Appointment : |
01.01.2011 |
|
DIN No.: |
03389876 |
|
|
|
|
Name : |
Mr. Soon Won Kwon |
|
Designation : |
Director |
|
Address : |
C 3/10, First Floor, Vasant Vihar, |
|
Date of Birth/Age : |
14.01.1965 |
|
Qualification : |
Bachelor of Business Administration |
|
Experience : |
19 Years |
|
Date of Appointment : |
21.12.2011 |
|
PAN No.: |
CIRPK5031L |
|
DIN No.: |
05169036 |
|
|
|
|
Name : |
Mr. Bo Kyung Sung |
|
Designation : |
Director |
|
Address : |
Hyatt Regency Pune, Residences Room No. 344, Weikfield IT Park, |
|
Date of Birth/Age : |
21.02.1960 |
|
Qualification : |
Electronics Engineer |
|
Experience : |
29 Years |
|
Date of Appointment : |
21.12.2011 |
|
PAN No.: |
DYXPS7403D |
|
DIN No.: |
05169048 |
|
|
|
|
Name : |
Mr. Un Tae Kim |
|
Designation : |
Director |
|
Address : |
S-51, 2nd Floor, |
|
Date of Birth/Age : |
23.12.1970 |
|
Date of Appointment : |
13.08.2012 |
|
PAN No.: |
CPQPK1398C |
|
DIN No.: |
06364228 |
|
|
|
|
Name : |
Young Un Huh |
|
Designation : |
Director |
|
Address : |
Flat No. DC 1-301, Delcourt Jaypee Greens, Greater Noida – 201306, |
|
Date of Birth/Age : |
05.02.1961 |
|
Date of Appointment : |
08.01.2014 |
|
DIN No.: |
06799149 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Panda |
|
Designation : |
Secretary |
|
Address : |
H-4, Parsvnath Prestige, Plot No. 2, Sector 93A, Noida – 201306, |
|
Date of Birth/Age : |
04.06.1964 |
|
Date of Appointment : |
21.01.2002 |
|
PAN No.: |
AKAPP8069J |
|
|
|
|
Name : |
Mr. Abhay Sood |
|
Designation : |
G.M. Accounting |
|
|
|
|
Name : |
Mr. Anil Kumar |
|
Designation : |
Senior G.M. Factory Head Noida Factory |
|
|
|
|
Name : |
Mr. Ashish Agrawal |
|
Designation : |
G.M. Finance and Taxation |
|
|
|
|
Name : |
Beom Seok Kang |
|
Designation : |
G.M. Improvement Team |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
LG Electronics Inc., |
|
113128726 |
|
Ashish Agrawal |
|
1 |
|
Vipin Gupta |
|
1 |
|
Umesh Dhal |
|
1 |
|
Abhay Sood |
|
1 |
|
Kishor Kumar Kaul |
|
1 |
|
Vinod Kumar |
|
1 |
|
|
|
|
|
Total |
|
113128732 |
AS ON 30.09.2014
|
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] |
99.99 |
|
Other
top fifty shareholders |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Televisions (FPD/LCD/LED, etc.), Air Conditioners, Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum Cleaners, Optical Disk Drive, Audio and Digital Video Display Systems, Monitors and GSM Mobiles. |
|
|
|
|
Brand Names : |
“LG” |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
v
State Bank of CAG Branch, 11th Floor, Jawahar Vypar Bhawan, Tolstoy
Marg, v Shinhan Bank 3rd Floor, D-6,
South Extension-2, v HSBC Bank Limited 25 Birla House, v Deutsche Bank ECE House, Ground Floor, 28 Kasturba Gandhi Marg, v Citi Bank v Standard Chartered Bank v Bank of v JP Morgan v ICICI Bank Limited |
||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7 Floor, Building 10, Tower B, |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD2095B |
|
|
|
|
Holding company
: |
LG Electronics Inc., |
|
|
|
|
Fellow
Subsidiary company : |
v Hitachi-LG Data
Storage Inc. v LG Alina
Electronics v LG Chem Limited v LG Soft India
Private Limited [U85110KA1998PTC023521] v LG CNS Inc. v LG CNS India
Private Limited [U72900KA2004PTC034298] v LG Display Co.,
Limited v LG Electronics ( v LG Electronics
(Huizhou) Inc. v LG Electronics ( v LG Electronics
(M) Sdn Bhd v LG Electronics ( v LG Electronics v LG Electronics
Alabama, Inc. v LG Electronics
Almaty Kazak Co., Limited v LG Electronics
Argentina S.A. v LG Electronics v LG Electronics v LG Electronics
Canada,Inc. v LG Electronics v LG Electronics
Czech S.R. v LG Electronics
Da Amazonia Ltda v LG Electronics
Deutschland.Gmbh. v LG Electronics v LG Electronics
Espana S.A. v LG Electronics v LG Electronics
Gulf FZE v LG Electronics v LG Electronics
HK Co. Limited v LG Electronics
Italia S.P.A. v LG Electronics
Japan Inc. v LG Electronics
Magyar Kft. v LG Electronics v LG Electronics
Middle East Co. Limited v LG Electronics v LG Electronics v LG Electronics
Nanjing Display Co. Limited v LG Electronics
Panama S.A. v LG Electronics
Philippines Inc. v LG Electronics
Polska Sp.Zo.O v LG Electronics v LG Electronics v LG Electronics v LG Electronics
Service Europe v LG Elec ( v LG Electronics
Singapore Pte Limited v LG Electronics
Taiwan Taipeu Co. Limited v LG Electronics
Tian Jin Appliances Co., Limited v LG Electronics
Ticaret A.S. v LG Electronics
U.S.A. INC. v LG Electronics v LG Electronics
United Kingdom Limited v LG Electronics
Vietnam Co. Limited v LG Hausys
Limited v LG Innotek
(Huizhou) Co., Limited v LG Innotek. Co.
Limited v LG International
(HK) Limited v LG International
Corp. v LG International
(S'Poer) Pte., Limited v LG Polymers
India Private Limited [U25203AP1996PTC025917] v LG Electronics v LG-Shaker Co.
Limited v PT. LG
Electronics v PT.LG Innotek v LG Electronics
RUS, LLC v LG Electronics
Inc. Chile Limited v LG Electronics
European Shared Service Center B.V. v LG Electronics v Nanjung LG Panda
Appliances Co., Limited v Nanjing
LG-Toutru Color Display System Co., Limited v LG Electronics
(Kunshan) Co., Limited v Shanghai LG
Electronics Co., Limited v HI Logistics
India Private Limited [U60220DL2012FTC235584] v HS Ad Inc. v LG Electronics
De Sao v LG Electronics
Qinhuangdao Co., Limited v LG-Ericsson Co.
Limited, (Formerly known as LG-Nortel Co. Limited) v LG Electronics
USA, Inc – v LG Innotek
Yantai Co., Limited v Tai Zhou LG
Electronics Refrigeration Co., Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113,128,732 |
Equity Shares |
Rs. 10/- each |
Rs. 1131.290 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1131.290 |
1131.290 |
1131.290 |
|
(b) Reserves & Surplus |
14515.710 |
18099.710 |
16530.000 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
15647.000 |
19231.000 |
17661.290 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
619.000 |
658.000 |
532.000 |
|
(d)
long-term provisions |
322.000 |
311.000 |
321.000 |
|
Total
Non-current Liabilities (3) |
941.000 |
969.000 |
853.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1079.000 |
544.000 |
0.000 |
|
(b)
Trade payables |
13566.000 |
12524.000 |
10235.000 |
|
(c)
Other current liabilities |
2069.000 |
1834.000 |
1835.710 |
|
(d)
Short-term provisions |
1145.000 |
1092.000 |
992.000 |
|
Total
Current Liabilities (4) |
17859.000 |
15994.000 |
13062.710 |
|
|
|
|
|
|
TOTAL |
34447.000 |
36194.000 |
31577.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
6539.000 |
6354.000 |
6401.000 |
|
(ii)
Intangible Assets |
47.000 |
97.000 |
175.000 |
|
(iii)
Capital work-in-progress |
151.000 |
149.000 |
183.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
731.000 |
646.000 |
650.000 |
|
(d) Long-term Loan
and Advances |
2095.000 |
2002.000 |
1776.000 |
|
(e)
Other Non-current assets |
3.000 |
0.000 |
4.000 |
|
Total
Non-Current Assets |
9566.000 |
9248.000 |
9189.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
14096.000 |
13441.000 |
10871.000 |
|
(c)
Trade receivables |
7156.000 |
5867.000 |
4490.000 |
|
(d)
Cash and cash equivalents |
1885.000 |
5906.000 |
4957.000 |
|
(e)
Short-term loans and advances |
1422.000 |
1120.000 |
973.000 |
|
(f)
Other current assets |
322.000 |
612.000 |
1097.000 |
|
Total
Current Assets |
24881.000 |
26946.000 |
22388.000 |
|
|
|
|
|
|
TOTAL |
34447.000 |
36194.000 |
31577.000 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
115802.000 |
114678.000 |
114567.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
104436.000 |
105941.000 |
108255.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11366.000 |
8737.000 |
6312.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.000 |
7.000 |
1.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11363.000 |
8730.000 |
6311.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2229.000 |
1981.000 |
1891.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9134.000 |
6749.000 |
4420.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2791.000 |
1892.000 |
1289.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6343.000 |
4857.000 |
3131.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
16543.000 |
15460.000 |
17902.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
634.000 |
487.000 |
314.000 |
|
|
|
Interim Dividend |
8485.000 |
2828.000 |
4525.000 |
|
|
|
Tax on Dividend |
1442.000 |
459.000 |
734.000 |
|
|
BALANCE CARRIED
TO THE B/S |
12325.000 |
16543.000 |
15460.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
6716.000 |
8313.000 |
11362.000 |
|
|
|
Other Earnings |
62.000 |
138.000 |
386.000 |
|
|
TOTAL EARNINGS |
6778.000 |
8451.000 |
11748.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
56.07 |
42.93 |
27.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.21 |
19.07 |
14.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58 |
0.35 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.07 |
0.03 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.68 |
1.71 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1131.290 |
1131.290 |
1131.290 |
|
Reserves & Surplus |
16530.000 |
18099.710 |
14515.710 |
|
Net
worth |
17661.290 |
19231.000 |
15647.000 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
544.000 |
1079.000 |
|
Total
borrowings |
0.000 |
544.000 |
1079.000 |
|
Debt/Equity ratio |
0.000 |
0.028 |
0.069 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
114567.000 |
114678.000 |
115802.000 |
|
|
|
0.097 |
0.980 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
114567.000 |
114678.000 |
115802.000 |
|
Profit |
3131.000 |
4857.000 |
6343.000 |
|
|
2.73% |
4.24% |
5.48% |
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10409452 |
15/03/2014 * |
1,200,000,000.00 |
SHINHAN BANK |
D-6, 3RD FLOOR,
SOUTH EXTENTION PART-II, NEW DELHI, DELHI - 110049, INDIA |
C03811932 |
|
2 |
80032085 |
01/06/2009 * |
1,125,000,000.00 |
BANK OF AMERICA |
1ST FLOOR DLF
CENTER, SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
A63287486 |
|
3 |
80031197 |
06/07/2009 * |
672,400,000.00 |
DEUTSCHE BANK |
ECE HOUSE, GROUND
FLOOR, 28 KASTURBA GANDHI MARG, NEW DELHI, DELHI - 110001, INDIA |
A66160052 |
|
4 |
80028108 |
30/05/2012 * |
1,500,000,000.00 |
HSBC BANK
LIMITED |
25 BIRLA HOUSE,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B41562554 |
|
5 |
80013609 |
07/02/2013 * |
1,250,000,000.00 |
STANDARD
CHARTERED BANK |
CREDIT RISK
CONTROL, NARAIN MANZIL, 23 BARAKHAMBA |
B68954916 |
|
6 |
80034262 |
21/01/2005 * |
1,750,000,000.00 |
ICICI BANK
LIMITED |
9A PHELPS BLDG ,
CANNOUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
- |
|
7 |
80031198 |
02/09/2013 * |
150,000,000.00 |
STATE BANK OF
INDIA |
CAG BRANCH, 11TH
FLOOR , JAWAHAR VYPAR BHAWAN, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B85525913 |
|
8 |
80031196 |
06/05/2008 * |
1,600,000,000.00 |
CITI BANK |
5TH FLOOR , DLF
CENTER, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A38447629 |
* Date of charge modification
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from Plot No. 51 Udyag
Vihar, Surajpur Kasna Road, Greater Noida - 201306, Uttar Pradesh, India to the
present office address w.e.f.18.12.2013.
BACKGROUND
INFORMATION
The Company was incorporated on January 20, 1997 to
manufacture and trade in Televisions (FPD/LCD/LED, etc.), Air Conditioners,
Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum Cleaners,
Optical Disk Drive, Audio and Digital Video Display Systems, Monitors and GSM
Mobiles. The manufacturing facilities of the Company are situated at Greater
Noida in Uttar Pradesh and also in Ranjangaon near Pune in the State of
Maharashtra. The Company is closely held with 113,128,726 shares held by LG
Electronics Inc., South Korea and the balance 6 shares held by its nominees.
FINANCE
The Company’s Bank Loan Rating under BASEL II has been reaffirmed at AA+/Stable under Long Term and Highest Rating of A1+ under Short Term. During the year, the company has made lot of improvements in Financial Risk management and efficient working capital management, which will have long term impact .The Company continued to be maintain sufficient cash to meet strategic objectives. During the fiscal, internal cash flows have more than adequately covered working capital requirements, capital expenditure and dividend payments.
MANUFACTURING
During the year efforts has been made to improve the
production capability. In Refrigerator segment sub assembly line was
established to enhance ever cool Models production capacity. Initiative was
taken to enhance quality and capacity management by in-housing the critical
operation. In Washing Machine line production line was established in Top
loading segment. In Compressor segment the Company improved its capability from
Single platform line to multi-platform (BMG and CMA) line to cater multi models
production at same time
PERFORMANCE REVIEW
In spite of volatile Indian Rupee against US Dollar,
depressing situation in Industrial growth and decreasing GDP growth and other Macro
Economy situation, the Company was able to consolidate its Market leadership in
most of the Product segment. The Company registered marginal growth in sales
and other income (INR 115800.000 Millions), and 31% growth in Profit after Tax
(INR 63.400 Millions)
EXPORTS
During the year, Rupee depreciation has helped to boost the
Export Sales and its competitiveness. Sales of Washing Machine and Refrigerator
has been very encouraging during the year. Despite difficult and negative local
and international environment the company has achieved export sales of INR
8220.000 Millions as against a sales of INR 8600.000 Millions in previous year
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
·
Computer software
PRESS RELEASES
LG
ELECTRONICS TO END PRODUCTION OF PLASMA DISPLAY TVS
October
28, 2014
SEOUL:
South Korea's LG Electronics Inc said that it will end the
production of plasma display televisions by end-November in order to focus its
efforts on liquid crystal display (LCD) and OLED televisions.
LG Electronics said in a regulatory filing the
decision reflects a decline in demand for plasma televisions. The move was
widely expected as LCD TVs have become the mainstay product in the global
market.
Samsung SDI Co Limited, sister company of LG's
TV rival Samsung Electronics Co Limited, also said in July that it will shut
down its plasma panel production business by Nov. 30 due to the decline in
overall demand.
LG ELECTRONICS FAILS TO GROW ITS SALES IN INDIAN MARKET IN FY14
Nov
13, 2014
KOLKATA | MUMBAI: LG Electronics
failed to grow its sales in the Indian
market for the third straight
year in FY14, raising fresh questions about the South Korean electronics major's
strategy of focusing on premium products.
LG Electronics India, which was the country's largest consumer
electronics company just five years ago, is now reduced to nearly a fourth of
its towering rival Samsung after it reported just 1% rise in net sales for the
year ended March 2014 at Rs 115800.000 Millions as per its latest filing to the
Registrar of Companies (RoC). Samsung
India, in comparison, grew its sales 45% at Rs 403920.000 Millions.
Samsung's exponential growth is powered by its booming mobile handset
business, true, but LG India is losing ground to others and is
struggles to hold on to its market share across product categories. Sony India,
for example, has narrowed the gap with LG significantly with Rs 100000.000
Millions in sales last fiscal and it's targeting Rs 120000.000 Millions this
year.
Four senior industry executives ET spoke to pointed to a host of
strategic factors that halted LG's growth in India in recent years. They
include: LG repositioning itself as a premium brand with higher price tags and
focus on high-end products; focus on exclusive stores in a market where a bulk
of sales now happen at large multi-brand chains; failure to fill the void
created after exiting Rs 25000.000 Millions CRT television business last year;
and, inability to crack the smartphone market.
"Apart from internal changes in business strategy where the focus
is on driving profit, LG has been hit hard by the slowdown in sales of the
white goods industry which was flat in last three years and it not being able
to grow fast enough in categories like smartphones and flat televisions, which
grew exponentially," one of them said.
LG, however, refused to acknowledge any strategic failure. "It
seems that you are planning to do a story based on outdated and historical data
in this fast moving world," an LG India spokesperson said in response to a
detailed questionnaire sent by ET. "We do not subscribe to the facts and
figures relied on by you. Any story and news item based on such factually
incorrect data may not reflect the correct picture," the spokesperson
said.
Its focus on premiumisation did help LG India boost its profitability.
Despite flat sales, the company reported an impressive 31% growth in its profit
for 2013-14 at Rs 6340.000 Millions. "The parent is not much perturbed by
LG India's flat sales since it is delivering healthy profit and that too in
home appliances and air-conditioners, which are tough businesses," an
industry executive said. This is at a time when the parent company is reporting
losses and betting on few top geographies like India and its smartphone
business to get back into black.
The LG spokesperson said the company is registering impressive business
growth this year. "During this festive season, we have broken all our
previous. We would like to reiterate that LG has the highest market share in
consumer durables category. With the robust product portfolio based on Indian
insights, LG will further strengthen its market shares," she said.
While LG India has been trying to gain a foothold in the booming Indian
smartphone market, just released data by Counterpoint Research shows that its
share has declined to 1% in the quarter ended September, down from 1.4% in the
year-ago period. Tarun Pathak, senior analyst at Counterpoint Research, said
that while LG is one of the few vendors offering devices in the premium
segment, sales are more polarised towards Apple iPhone due to aspirational nature of
the brand.
"Right now, LG is sandwiched and facing competition from Apple and
Samsung at the premium end, while in the entry-tomid segment the local and
Chinese smartphone vendors are ruling. LG needs to be more aggressive in
marketing and should adopt leaner go-to-market strategy as it has a fantastic
product portfolio," he said.
In white goods, while LG India has lost leadership in air-conditioners
to Tata-owned Voltas in multi-brand outlet sales, Samsung and Whirlpool are
giving it tough competition in products like double-door refrigerators,
side-by-side refrigerators and fully-automatic washing machines.
However, LG is still the undisputed market leader in direct cool
refrigerators, semi-automatic washing machines and microwave ovens. In flat
panel TVs, LG is at the third slot with the Samsung-Sony duo controlling more
than 60% of the market.
LG TO INCREASE EXPORTS FROM INDIA TO 15% IN 2 YEARS
Dec
12, 2014
NEW DELHI: South Korean
electronics major LG is aiming to increase exports from its Indian operations
to about 15 per cent over the next two years.
Currently, about 10 per cent of LG products manufactured in India are
exported to 80 countries of South-East Asia, South Africa, Middle East and
South American regions.
"Within next two years, the export contribution would go up to 15
per cent of the total production of the Indian unit," LG Electronics India Managing Director Soon Kwon told PTI.
The company would increase exports of products like refrigerators,
washing machines and LCD/LED TV as well as other categories, he
added.
The company's wholly-owned subsidiary LG Electronics India had a
turnover of Rs 160000.000 Millions last year. India is among the top five
markets globally for the South Korean firm.
"Every year, our export business is growing. Around 10 per cent of
our business in India is coming from our export business," Kwon said,
adding that LG is "probably the largest exporter of consumer electronics
from India".
Currently, LG India manufactures around 90 per cent of its
products locally.
"LG India is localised in terms of manufacturing and manpower. In
terms of the localisation of business, none of the MNCs has higher local
contribution than LG," said Kwon who was accorded as "Man of
Electronics Award" by Consumer Electronics and Appliances Manufacturers
Association.
The company is also considering manufacturing panels for LCD/LED TVs
here, he said, but declined to give any timeframe saying that LG is still
studying the market.
"I cannot disclose any plans for that but we will have to do some
day... We have studied panel manufacturing in China, this year, we have opened
a factory in Brazil... It depends how the panel market evolves," said
Kwon.
On being asked about the response of LG's global products such as Ultra
HD here, he said: "India is still in a very minimal stage yet. We are
looking over all business potential of the future. Within next 2-3 years you
will see lots of models in 4K high definition TVs".
On the domestic market, he said that the growth in demand from the rural
segment is higher than the developed metro markets.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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. 62.44 |
|
|
1 |
Rs. 98.15 |
|
Euro |
1 |
Rs. 77.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.