1. Summary Information
|
Country |
India |
||
|
Company Name |
L G ELECTRONICS INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Chang Sil Lee |
|
Status |
Good |
Principal Name 2 |
Mr. Hyun Chul Moon |
|
Registration # |
55-220109 |
||
|
Street Address |
A Wing, Third Floor, D-3, District Centre, Saket, New Delhi – 110017 |
||
|
Established Date |
20.01.1997 |
SIC Code |
-- |
|
Telephone# |
91-11-26571208 |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Divulged |
Business Style 2 |
Trader |
|
Homepage |
Not Divulged |
Product Name 1 |
Colour Televisions |
|
# of employees |
Not Divulged |
Product Name 2 |
Flat Panel Display |
|
Paid up capital |
Rs.1131,287,000/- |
Product Name 3 |
Air Conditioner |
|
Shareholders |
Foreign holdings -100.00 % Other – 0.01% |
Banking |
Standard Chartered Bank |
|
Public Limited Corp. |
NO |
Business Period |
17 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A (66) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company : |
Korea |
LG Electronics INC. |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
15,507,000,000 |
Current Liabilities |
15,040,710,000 |
|
Inventories |
13,441,000,000 |
Long-term Liabilities |
544,000,000 |
|
Fixed Assets |
6,451,000,000 |
Other Liabilities |
1,378,000,000 |
|
Deferred Assets |
646,000,000 |
Total Liabilities |
16,962,710,000 |
|
Invest& other Assets |
149,000,000 |
Retained Earnings |
18,100,000,000 |
|
|
|
Net Worth |
19,231,290,000 |
|
Total Assets |
36,194,000,000 |
Total Liab. & Equity |
36,194,000,000 |
|
Total Assets (Previous Year) |
31,577,000,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
114,678,000,000 |
Net Profit |
4,857,000,000 |
|
Sales(Previous yr) |
114,567,000,000 |
Net Profit(Prev.yr) |
3,131,000,000 |
MIRA INFORM REPORT
|
Report Date : |
20.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
L G ELECTRONICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A Wing, Third Floor, D-3, District Centre, Saket, New Delhi – 110017 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.01.1997 |
|
|
|
|
Com. Reg. No.: |
55-220109 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1131.287 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32107DL1997PTC220109 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEL03835G PNEL03836A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1745Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Colour Televisions, Flat Panel Display, Air
Conditioner, Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum
Cleaner, 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 76920000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the scheme.
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
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON – CO-OPERATIVE (91-11-26571208)
LOCATIONS
|
Registered Office : |
A Wing, Third Floor, D-3, District Centre, Saket, New Delhi – 110017,
India |
|
Tel. No. : |
91-11-26571208 |
|
Fax No. : |
Not Divulged |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Sales Service / Factory 1 : |
Plot No.51, Surajpur Kasna Road, Greater Noida - 201306, Uttar
Pradesh, India |
|
|
|
|
Factory 2 : |
Plot No. A-05,
MIDC Ranjangaon Taluka – Shirur, Pune – 412220. Maharashtra, India |
|
|
|
|
Electronics Store : |
4th Floor, A-Wing, Trade Star, J.
B. Nagar, Andheri, Mumbai, Maharashtra, India |
|
Tel No. : |
91-22-28352882 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Chang Sil Lee |
|
Designation : |
Director |
|
Address : |
14, Poorvi Marg, 2nd Floor, Vasant Vihar, New Delhi-110057,
India |
|
Date of Birth/Age : |
16.12.1964 |
|
Date of Appointment : |
28.09.2010 |
|
PAN No.: |
AFMPL2720D |
|
DIN No.: |
03031902 |
|
|
|
|
Name : |
Mr. Soonhwang Kwon |
|
Designation : |
Managing Director |
|
Address : |
601, Earth Court-1, Greater Noida, Gautam Budh Nagar, Uttar Pradesh,
India |
|
Date of Birth/Age : |
13.10.1954 |
|
Date of Appointment : |
30.09.2011 |
|
PAN No.: |
BXBPK0303B |
|
DIN No.: |
03389876 |
|
|
|
|
Name : |
Soon Won Kwon |
|
Designation : |
Director |
|
Address : |
C, 3/10, First Floor, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
14.01.1965 |
|
Date of Appointment : |
21.12.2011 |
|
DIN No.: |
05169036 |
|
|
|
|
Name : |
Bo Kyung Sung |
|
Designation : |
Director |
|
Address : |
Flat No. D-6, IVY Glen, Marigold Premises, Wadgaon Sheri, Pune –
411014, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1960 |
|
Date of Appointment : |
21.12.2011 |
|
DIN No.: |
05169048 |
|
|
|
|
Name : |
Un Tae Kim |
|
Designation : |
Director |
|
Address : |
S-51, 2nd Floor, Panchsheel Park, New Delhi -110017, India |
|
Date of Birth/Age : |
23.12.1970 |
|
Date of Appointment : |
13.08.2012 |
|
DIN No.: |
06364228 |
KEY EXECUTIVES
|
Name : |
Pradeep Panda |
|
Designation : |
Secretary |
|
Address : |
H 4, Parsvnath Prestige, Plot
No 2, Sector 93 A, Noida – 201306, Uttar Pradesh, India |
|
Date of Birth/Age : |
04.06.1964 |
|
Qualification : |
B. Com, FCA |
|
Date of Appointment : |
21.01.2002 |
|
PAN No.: |
AKAPP8069J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
LG Electronics
INC, |
113128726 |
|
Ashish Agrawal |
1 |
|
Vipin Gupta |
1 |
|
Umesh Dhal |
1 |
|
Abahy Sood |
1 |
|
Kishor Kumar Kaul |
1 |
|
Vinod Kumar |
1 |
|
|
|
|
Total |
113128732 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
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 |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Colour Televisions, Flat Panel Display, Air
Conditioner, Refrigerators, Microwave Ovens, Washing Machines, Compressors,
Vacuum Cleaner, Optical Disk Drive, Audio and Digital Video Display Systems,
Monitors and GSM Mobiles. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
v ICICI Bank
Limited v Citi Bank v Deutsche Bank v Bank of America v JP Morgan v Shinhan Bank v
Standard
Chartered Bank, Narain Manzil, 23 Barakhmaba Road, New Delhi – 110 001,
Delhi, India v HSBC Bank Limited, 25 Birla House,
Barakhamba Road, New Delhi-110001, India
v State Bank of
India, Cag Branch, 11th Floor, Jawahar Vypar Bhawan, Tolstoy Marg,
New Delhi – 110001, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deolitte Haskins and Sells Chartered
Accountants |
|
Address : |
7th Floor, Building No.10, Tower – B, Cyber City Complex,
DLF City, Phase-II, Gurgaon-122002, Haryana, India |
|
PAN
No. : |
AABFD2095B |
|
|
|
|
Cost Auditors : |
J K Kabra and Company Cost Accountant |
|
Address : |
Delhi, India |
|
|
|
|
Holding company
: |
¨
LG Electronics INC.,Korea |
|
|
|
|
Fellow
Subsidiary company : |
¨
Hitachi LG Data Storage Inc, (HLDS) Korea ¨
LG Alina Electronics ¨
LG Chem Limited ¨
LG Soft India Private Limited ¨
LG CNS Inc ¨
LG CNS India Private Limited ¨
LG Display Company Limited ¨
L G Electronics (China) Company Limited ¨
L G Electronics (Huizhou) Inc. ¨
LG Electronics (Levant) – Jordan ¨
LG Electronics (M)Sdn Bhd ¨
LG Electronics (Thailand) Company Limited ¨
LG Electronics AfricaLogistics FZE ¨
LG Electronics Albama, Inc ¨
LG Electronics Almaty Kazak Company Limited ¨
L G Electronics Argentina S.A. ¨
LG Electronics Australia Pty. Limited. ¨
LG Electronics Benelux (Eebn) ¨
L G Electronics Canada, Inc ¨
LG Electronics Colombia Ltda ¨
LG Electronics Colombia Ltda ¨
L G Electronics D a Amazonia Ltda ¨
LG Electronics Deutschland. GmbH ¨
L GElectronics Dubai, Fze ¨
L G Electronics espana S.a. ¨
L G Electronics France S.A.S ¨
LG Electronics Gulf FZE ¨
L G Electronics Hellas S.A. ¨
LG Electrinics HK Company Limited ¨
L G Electronics Italia S.P.A. (Eeis) ¨
L G Electronics japan, Inc ¨
L G Electronics Magyar Kft. (Eemk) ¨
L G Electronics Mexico S.A. De.CV(Enmx) ¨
LG Electronics Middle East Company Limited ¨
L G Electronics Morocco S.A.R.C ¨
LG Electronics Morocco S.A.R.L (Efmc) ¨
LG Electronics Nanjing Display Company Limited ¨
LG Electronics Panama S.A. ¨
L G ElectronicsPhilippines Inc. ¨
L G Electronics polska Sp. Zo.O (Limited) ¨
L G Electronics Portugal (Eept) ¨
L G Electronics Romania S. ¨
L G Electronics S.A. (Pty) Limited ¨
LG Electronics Service Europe Netherlands B.V ¨
LG Elec (Shenyang) Inc ¨
LG International (Singapore) Pte Limited ¨
L G Electronics Taiwan Taipeu Company Limited ¨
L G Electronics Tian Jin Appliances Company
Limited ¨
L G Electronics Ticaret A.S ¨
L G Electronics U.S.A. INC ¨
L G Electronics Ukraine ¨
L G Electronics Uni ted Kingdom Ltd.(Eeuk) ¨
L G Electronics Vietnam Company Limited ¨
LG Hausys Limited. ¨
LG Polymers India Private Limited ¨
LG-Shaker Company Limited ¨
LG Electronics BrazilInc.Chile Limited ¨
Shanghai L.G Electronics Company Limited ¨
LG Electronics De Sao paulo Ltda, Brazil |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115000000 |
Equity Shares |
Rs.10/- each |
Rs.1150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113128732 |
Equity Shares |
Rs.10/- each |
Rs.1131.287 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1,131.290 |
1,131.290 |
|
(b) Reserves & Surplus |
|
18,100.000 |
16,530.000 |
|
(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) |
|
19,231.290 |
17,661.290 |
|
|
|
|
|
|
(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 |
|
658.000 |
532.000 |
|
(d) long-term provisions |
|
286.000 |
321.000 |
|
Total
Non-current Liabilities (3) |
|
944.000 |
853.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
544.000 |
0.000 |
|
(b) Trade payables |
|
12,524.000 |
10,235.000 |
|
(c) Other current liabilities |
|
1,858.710 |
1,835.710 |
|
(d) Short-term provisions |
|
1,092.000 |
992.000 |
|
Total
Current Liabilities (4) |
|
16,018.710 |
13,062.710 |
|
|
|
|
|
|
TOTAL |
|
36,194.000 |
31,577.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
6,354.000 |
6,401.000 |
|
(ii) Intangible Assets |
|
97.000 |
175.000 |
|
(iii) Capital work-in-progress |
|
149.000 |
183.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
646.000 |
650.000 |
|
(d) Long-term Loan
and Advances |
|
1,928.000 |
1,776.000 |
|
(e) Other Non-current assets |
|
0.000 |
4.000 |
|
Total
Non-Current Assets |
|
9,174.000 |
9,189.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
13,441.000 |
10,871.000 |
|
(c) Trade receivables |
|
5,867.000 |
4,490.000 |
|
(d) Cash and cash equivalents |
|
5,906.000 |
4,957.000 |
|
(e) Short-term loans and advances |
|
1,120.000 |
973.000 |
|
(f) Other current assets |
|
686.000 |
1,097.000 |
|
Total
Current Assets |
|
27,020.000 |
22,388.000 |
|
|
|
|
|
|
TOTAL |
|
36,194.000 |
31,577.000 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1131.290 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
18658.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
19789.290 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
OTHER LIABILITIES |
|
|
(0.290) |
|
|
|
|
|
|
|
|
TOTAL |
|
|
19789.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6177.000 |
|
|
Capital Advance |
|
|
-- |
|
|
Capital work-in-progress |
|
|
359.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
543.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
16450.000
|
|
|
Sundry Debtors |
|
|
5909.000
|
|
|
Cash & Bank Balances |
|
|
3692.000
|
|
|
Other Current Assets |
|
|
2045.000
|
|
|
Loans & Advances |
|
|
3176.000
|
|
Total
Current Assets |
|
|
31272.000
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
14360.000
|
|
|
Other Current Liabilities |
|
|
2862.000
|
|
|
Provisions |
|
|
1340.000
|
|
Total
Current Liabilities |
|
|
18562.000
|
|
|
Net Current Assets |
|
|
12710.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
19789.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
114678.000 |
114567.000 |
118997.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
105941.000 |
108255.000 |
113230.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8737.000 |
6312.000 |
5767.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.000 |
1.000 |
4.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8730.000 |
6311.000 |
5763.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1981.000 |
1891.000 |
1579.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6749.000 |
4420.000 |
4184.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1892.000 |
1289.000 |
1207.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4857.000 |
3131.000 |
2977.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
15460.000 |
17902.000 |
14925.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
487.000 |
314.000 |
-- |
|
|
|
Dividend |
2828.000 |
4525.000 |
-- |
|
|
|
Tax on Dividend |
459.000 |
734.000 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
|
|
17902.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
|
12060.000 |
|
|
|
Service Warranty Claims |
|
|
68.000 |
|
|
|
Reimbursement of Expense |
NA |
NA |
359.000 |
|
|
|
Other Earnings |
|
|
4.000 |
|
|
TOTAL EARNINGS |
NA |
NA |
12491.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
|
10272.000 |
|
|
|
Raw Materials |
|
|
41948.000 |
|
|
|
Service Spares |
NA |
NA |
447.000 |
|
|
|
Capital Goods |
|
|
1646.000 |
|
|
|
Consumable Store and Spares |
|
|
25.000 |
|
|
TOTAL IMPORTS |
NA |
NA |
54338.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
42.93 |
27.68 |
26.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.23
|
2.73 |
2.50
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.06
|
14.38 |
11.17
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.25 |
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.71 |
1.68
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
1131.290 |
1131.290 |
|
Reserves & Surplus |
16530.000 |
18100.000 |
|
Net
worth |
17,661.290 |
19,231.290 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
544.000 |
|
Total
borrowings |
0.000 |
544.000 |
|
Debt/Equity
ratio |
0.000 |
0.028 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
118997.000 |
114567.000 |
114678.000 |
|
|
|
(3.723) |
0.097 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
118997.000 |
114567.000 |
114678.000 |
|
Profit |
2977.000 |
3131.000 |
4857.000 |
|
|
2.50% |
2.73% |
4.24% |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
The registered address of the company has been shifted fromA-27, Mohan Co-operative
Industrial Estate, Mathura Road, New Delhi – 110044, India to the present address w.e.f.
18.12.2013
LITIGATION DETAILS
|
IN THE HIGH COURT OF DELHI AT NEW DELHI CS(OS) 2038/2013 Ld. proxy counsel for plaintiff seeks
adjournment on the ground that there is a bereavement in the family of ld.
counsel for plaintiff. |
|
IN THE HIGH COURT OF DELHI AT NEW DELHI CS(OS) 2038/2013 versus CORAM: At the request of ld. counsel for plaintiff,
renotify for consideration for 2nd January, 2014. |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10409452 |
22/02/2013 |
1,000,000,000.00 |
SHINHAN BANK |
3RD FLOOR, D-6, SOUTH EXTENSION-2, Delhi - 110049, INDIA |
B69882561 |
|
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 ROAD, NEW DELHI,
Delhi - 110001, INDIA |
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
BACKGROUND
Subject was
incorporated in India on January 20, 1997 to manufacture and trade in Colour
Televisions, Flat Panel Display, Air Conditioners, Refrigerators, Microwave
Ovens, Washing Machines, Compressors, Vacuum Cleaners, Optical Disk Drive,
Audio AD 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 a closely held company with 113,128,726 shares held by LG
Electronics Inc., South Korea and the balance 6 shares held by its nominees.
PERFORMANCE REVIEW
In spite of
weakening Indian Rupee against US Dollar, decreasing Industrial growth and GDP
growth, the Company was able to maintain its Market leadership in most of the
Product segment. The Company registered sales and other income of Rs.114678.000
millions and Profit after Tax of Rs.4857.000 millions.
CUSTOMER SERVICE
The Company stands
by its commitment to provide world class service experience to its customers.
The aim is to reinforce the trust shown by its customers by providing differentiated
services, utilizing their core capabilities to enhance customer experience.
Their motto of One Call does it all is supported by Single toll free number
across India, which is available 24x7, 365 Days a year for customer
convenience. For customer convenience we have integrated their customer service
management system with their website which will enable their customer to
request for any Service directly from his computer using our URL www.lg.com.
The Company has
increased its footprint across the major cities of India, and present in 350
cities with service network 650 Authorized Service Centers, and a team of 8500
trained Service Engineers to take care of products. Direct Service center which
are operated directly by the company is a One Point Service Solution for all LG
Products. The DSC across the country aim to serve the customers with Speed,
Quality and Smile Equipped with State of the art equipment’s the center is all
set to wheedle its consumer in the region. Presently 34 Direct Service Centers
in the country are operating
EXPORTS
During the year
there has been a shift in Global consumer purchase pattern due to Global
Economic slowdown. Export Sales were impacted due to decreasing demand for CRT
TVs Globally but there has been significant increase in Washing Machine Export
compared to previous years.
Despite difficult and negative local environment your company has
achieved export sales of Rs. 8310.000 millions.
FIXED ASSETS
v Leasehold Land
v Freehold Land
v Building
v Plant and
Machinery
v Furniture and
Fixtures
v Office Equipments
v Vehicles
v Licenses and
Software
v IT Software
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.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.