MIRA
INFORM REPORT
|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANCHOR ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
ANCHOR ELECTRICALS LIMITED |
|
|
|
|
Registered
Office : |
Steel House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper
Box, Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.04.1981 |
|
|
|
|
Com. Reg. No.: |
11-128292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4408.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH1981FTC128292 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18689G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA2190C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Marketing of electrical switches and
accessories, wires, luminaries and fans |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 59550000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
Comments : |
Subject is a subsidiary of “Panasonic Electric Works Company Limited”.
It is a well established and reputed company having good track record.
Financially company seems to be strong. Liquidity position is good.
There appears no external borrowing. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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-Cooperative (91-22-30418888)
LOCATIONS
|
Registered Office : |
Steel House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper Box,
Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30418888 |
|
Fax No.: |
91-22-30418887/ 30418886 |
|
E-Mail : |
jitendra.gandhi@anchor-world.com
dinesh.aggarwal@anchor-world.com toshiaki.matsuda@th.panasonic.com |
|
Website : |
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|
State Offices : |
Located At: ·
Punjab ·
Rajasthan ·
Himachal Pradesh ·
Uttarakhand ·
Haryana ·
Jammu and Kashmir ·
Delhi ·
Uttar Pradesh ·
Goa ·
Chhattisgarh ·
Maharashtra ·
Gujarat ·
Orissa ·
Assam ·
West Bengal ·
Bihar ·
Jharkhand ·
Karnataka ·
Tamilnadu ·
Kerala ·
Andhra Pradesh |
|
|
|
|
Sales Offices : |
Located At: ·
Udaipur ·
·
Kota ·
Uttarakhand ·
Varanasi ·
Ghaziabad ·
Kanpur ·
Pune ·
Mangalore ·
Hubli |
|
|
|
|
Branch Offices : |
Located At: · Ahmedabad Kolkata Bengaluru Mumbai Chennai New Delhi Gurgaon Hyderabad Pune Indore |
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|
|
|
Regional Office : |
Located At: · Mumbai · Kolkata · New Delhi ·
Bangalore |
DIRECTORS
As on: 05.06.2013
|
Name : |
Tetsuya Kimoto |
|
Designation : |
Vice Chairman and Director – Technical Innovation |
|
Address : |
Apartment No.418, Marriott Executive Apartments, 2 and 2B, Near Chinmayanand Ashram, Powai, Mumbai – 400087, Maharashtra, India |
|
Date of Birth/Age : |
20.08.1954 |
|
Date of Appointment : |
01.01.2012 |
|
Din No : |
05148064 |
|
|
|
|
Name : |
Mr. Dinesh Vishwanath Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
A 404 A Wing Rainbow 4th Floor Raheja Vihar
Near, Chandivali Studio Powai, Mumbai – 400072, |
|
Date of Birth/Age : |
10.11.1964 |
|
Date of Appointment : |
19.05.2012 |
|
Din No : |
03006235 |
|
|
|
|
Name : |
Kiyoshi Kazuyoshi Otaki |
|
Designation : |
Director – Manufacturing and ES Business |
|
Address : |
S-520, Shivalik Nagar, Haridwar – 249403, Uttranchal, India |
|
Date of Birth/Age : |
18.10.1962 |
|
Date of Appointment : |
01.04.2013 |
|
Din No : |
03155206 |
|
|
|
|
Name : |
Mr. Takaki Qguri |
|
Designation : |
Managing Director |
|
Address : |
Flat No.2901, Marathon Nextgen ERA – II, G. K. Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1962 |
|
Date of Appointment : |
01.04.2013 |
|
Din No : |
01450431 |
|
|
|
|
Name : |
Toshihide Arii |
|
Designation : |
Additional Director |
|
Address : |
Apartment No.207, Marriott, Executive Apartments, 2 and 3B, Near Chinmayanand
Ashram, Powai, Mumbai – 400087, Maharashtra, India |
|
Date of Birth/Age : |
30.09.1956 |
|
Date of Appointment : |
01.04.2013 |
|
Din No : |
01451322 |
|
|
|
|
Name : |
Toshio Omori |
|
Designation : |
Director |
|
Address : |
Apartment No.207, Marriott, Executive Apartments, 2 and 3B, Near
Chinmayanand Ashram, Powai, Mumbai – 400087, Maharashtra, India |
|
Date of Birth/Age : |
27.03.1968 |
|
Date of Appointment : |
01.04.2013 |
|
Din No : |
06522835 |
|
|
|
|
Name : |
Yoshiyuki Kato |
|
Designation : |
Whole-Time Director |
|
Address : |
1-22 Yamada Nishi, Suita, Osaka – 5650824 |
|
Date of Birth/Age : |
17.10.1967 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
06521571 |
|
|
|
|
Name : |
Takashi Ogasawara |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
688-7-705, Huangjinchegdao Changning Shanghai 200335 |
|
Date of Birth/Age : |
28.12.1964 |
|
Date of Appointment : |
05.06.2013 |
|
Din No : |
06596396 |
|
|
|
|
Name : |
Kazutsugu Hayashi |
|
Designation : |
Additional Director |
|
Address : |
2 45 2 Higashifunahashi, Hirakata, Osaka 5731115 |
|
Date of Birth/Age : |
16.09.1958 |
|
Date of Appointment : |
01.10.2013 |
|
Din No : |
06701583 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 05.06.2013
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Panasonic Corporation (Earlier held by Panasonic Electric Works Company Limited now merged into Panasonic Corporation w.e.f. 01.01.2012 due to merger between Panasonic Electric Works Company Limited into Panasonic Corporation), Japan |
|
15143387 |
|
Panasonic Eco Solutions Switchgear Device Company Limited (Name
changed from Panasonic Electric Works Company Limited), Japan |
|
1 |
|
|
|
|
|
Total |
|
15143388 |
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Panasonic Corporation (Earlier held by Panasonic Electric Works Company Limited now merged into Panasonic Corporation w.e.f. 01.01.2012 due to merger between Panasonic Electric Works Company Limited into Panasonic Corporation), Japan |
|
425670000 |
|
|
|
|
|
Total |
|
425670000 |
Equity Share Break up (Percentage of Total Equity)
As on: 05.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketing of electrical switches and
accessories, wires, luminaries and fans |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Bank of India, Malad (West) Branch, Bank of India
Building, S.V Road, Malad (West), Mumbai- 400064, Maharashtra, Indiab |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Holding Company : |
· Panasonic Corporation Limited · Panasonic Electric Works Company Limited (merged with Panasonic Corporation Limited w.e.f 01.01.2012) |
|
|
|
|
Subsidiary
Company : |
Firepro Systems Private Limited |
|
|
|
|
Fellow Subsidiaries
: |
· Panasonic Electric Works Asia Pacific Pte. Limited · Panasonic Electric Works (Beijing) Company Limited · Panasonic Electric Works Steel (Thailand) Company Limited · Panasonic Electric Works Mitra Indonesia · Panasonic Excel International Company Limited · Panasonic Asia Pacific Pte. Limited · Panasonic India Private Limited · Panasonic Energy India Company Limited · Panasonic Ecology System Company Limited · Panasonic Ecology System Hong Kong · Panasonic Ecology System Thailand Company Limited · Panasonic Home Appliances India Company Limited · Panasonic Malaysia Sdn. Bhd. · Panasonic Manufacturing Authaya Company Limited · Panasonic Manufacturing (Beijing) Company Limited · Panasonic Lighting Europe Gmbh · Panasonic Information System Company Limited · Panasonic Eco Solutions Company · Panasonic Eco Solution Steel Thailand Company Limited · Panasonic Eco Solution Sales Thailand Company Limited · Panasonic Eco Solutions Switchgear Devices Company Limited · Panasonic Eco Solutions Asia Pacific Sg · Panasonic Eco Solution (Hong Kong) Company Limited · Panasonic Eco Solutions Power Tools Company Limited · Panasonic Eco Solutions Electrical Construction Materials Taiwan Company Limited · Panasonic Eco Solutions Business Consulting and Traning Company Limited · Panasonic Corporation Head Office · Panasonic Corporation Eco solution Company Energy System · Panasonic Corporation Eco solution Company Energy System-Head Quarter · Panasonic Corporation Eco Solutions Company Energy System-Business Group · Panasonic Corporation Eco Solutions Company Energy System-Business group power components · Panasonic Corporation Eco solution Company Energy System-Finance Group · Panasonic Corporation Eco Solutions Company (System Components) · Panasonic Corporation Eco Solution Company Manufacturing and Procurement Innovation Centre · Panasonic Corporation Eco solution Company Professional Lighting · Panasonic Corporation Eco Solutions Company Interior Lighting · Panasonic Corporation Eco Solutions Company Lighting Business Group · Panasonic Corporation Eco Solutions Company Lighting Business Group-Lighting and Devices Business Unit. · Panasonic Corporation Corporate Information System Company |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000000 |
Equity Shares |
Rs.10/- each |
Rs.45000.000 Millions |
|
500000000 |
Preference Shares |
Rs.10/- each |
Rs.5000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15143388 |
Equity Shares |
Rs.10/- each |
Rs.151.434 Millions |
|
425670000 |
Preference Shares |
Rs.10/- each |
Rs.4256.700 Millions
|
|
440813388 |
|
|
|
|
|
Total |
|
Rs.4408.134 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4408.100 |
4375.200 |
4375.200 |
|
(b) Reserves & Surplus |
10480.200 |
6015.600 |
4882.700 |
|
(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) |
14888.300 |
10390.800 |
9257.900 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
103.000 |
84.200 |
69.200 |
|
Total Non-current Liabilities
(3) |
103.000 |
84.200 |
69.200 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1766.500 |
1794.100 |
829.100 |
|
(c) Other current liabilities |
343.200 |
574.800 |
1394.700 |
|
(d) Short-term provisions |
524.500 |
590.100 |
579.900 |
|
Total Current
Liabilities (4) |
2634.200 |
2959.000 |
2803.700 |
|
|
|
|
|
|
TOTAL |
17625.500 |
13434.000 |
12130.800 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4601.700 |
2524.200 |
2311.500 |
|
(ii) Intangible Assets |
117.100 |
184.900 |
253.100 |
|
(iii) Capital work-in-progress |
64.300 |
1278.600 |
503.200 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2954.700 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
39.800 |
210.200 |
142.900 |
|
(d) Long-term Loan and Advances |
922.300 |
871.200 |
740.500 |
|
(e) Other Non-current assets |
3.500 |
8.800 |
7.500 |
|
Total Non-Current
Assets |
8703.400 |
5077.900 |
3958.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2232.000 |
1956.500 |
1945.900 |
|
(c) Trade receivables |
4239.000 |
3869.800 |
3541.800 |
|
(d) Cash and cash equivalents |
1926.500 |
1966.300 |
2110.300 |
|
(e) Short-term loans and advances |
425.900 |
396.000 |
362.800 |
|
(f) Other current assets |
98.700 |
167.500 |
211.300 |
|
Total Current
Assets |
8922.100 |
8356.100 |
8172.100 |
|
|
|
|
|
|
TOTAL |
17625.500 |
13434.000 |
12130.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14155.000 |
13176.400 |
10814.200 |
|
|
|
Other Income |
288.100 |
367.200 |
244.700 |
|
|
|
TOTAL (A) |
14443.100 |
13543.600 |
11058.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Variable cost |
7518.300 |
6997.100 |
|
|
|
|
Employee cost |
1347.400 |
1249.800 |
|
|
|
|
Operating and other expenses |
3358.600 |
2900.700 |
|
|
|
|
Exceptional items |
(621.600) |
0.000 |
|
|
|
|
TOTAL (B) |
11602.700 |
11147.600 |
9026.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2840.400 |
2396.000 |
2032.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.000 |
36.100 |
20.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2813.400 |
2359.900 |
2011.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
500.000 |
560.000 |
456.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2313.400 |
1799.900 |
1554.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
424.400 |
320.700 |
257.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1889.000 |
1479.200 |
1297.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5966.100 |
4833.200 |
3882.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend (Preference) |
298.000 |
298.000 |
298.000 |
|
|
|
Tax on Dividend |
50.600 |
48.300 |
48.300 |
|
|
BALANCE CARRIED
TO THE B/S |
7506.500 |
5966.100 |
4833.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.300 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.28 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
13.08 |
10.92
|
11.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.34 |
13.66
|
14.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.88 |
15.07
|
13.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.17
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.39 |
32.82
|
2.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
4,375.200 |
4,375.200 |
4,408.100 |
|
Reserves & Surplus |
4,882.700 |
6,015.600 |
10,480.200 |
|
Net
worth |
9,257.900 |
10,390.800 |
14,888.300 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
10,814.200 |
13,176.400 |
14,155.000 |
|
|
|
21.844 |
7.427 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
10,814.200 |
13,176.400 |
14,155.000 |
|
Profit |
1,297.000 |
1,479.200 |
1,889.000 |
|
|
11.99% |
11.23% |
13.35% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
LITIGATION DETAILS |
||||
|
Bench:- Bombay |
|
|||
|
Lodging No:- |
SL/1211/2012 |
Filling Dade :- |
03/05/2012 |
|
|
Petitioner:- |
INDIA SALES AGENCY AND DILIP SHAH |
Respondent:- |
ANCHOR ELECTRICALS PRIVATE LIMITED |
|
|
Petn.Adv:- |
D.H. LAW ASSOCIATES |
|||
|
District:- |
MUMBAI |
|||
|
|
||||
|
Bench:- |
SINGLE |
Category:- |
CIVIL SUITS |
|
|
Status:- |
Transferred |
Remark:- |
TRANSFERRED TO THE CITY CIVIL COURT AT BOMBAY |
|
|
Transfer Date:- |
03/10/2012 |
|
||
|
Act:- |
Code of Civil Procedure |
|||
NOTE:
The Registered Office of the company has been shifted from Unit No. 101,
Innova C, Marathon Nextgen, Ganpatrao Kakam Marg, Lower Parel (West), Mumbai -
400013, Maharashtra, India to the present address w.e.f.10.08.2009.
Note: No Charges Exist for Company
CORPORATE REVIEW
i) Wiring Devices
Division :
During the year Wiring Devices division took all efforts for improving the quality of the product for continuous growth. The Company continued to offer well designed, contemporary products using modern technologies and offered high quality and reliable products.
The Company continued its aim to achieve customer satisfaction by way of :
· Product Quality,
· Product Availability and
· After sales service etc.
Highlights of the
year was:
- New Product such as Vision series was launched. The product with new technology of screw less termination has been accepted by Indian market. The Product series is expected to become a dominant brand in the Premium Segment.
- Capacity expansion in form of introduction of new mould, machine and increase in productivity has been throughout the year and will continue.
- Cost reduction.
Company’s Plan for
2013:
- New Product offer such as Hospitality range in Vision series
- Ave Home Automation to enter HA market and complement recently introduce Sistema 44 wiring devices.
- New General Accessories and Smart functions like fancy lamp holders, spike guards and door bells to be added.
- New user friendly functions like USB chargers, AV sockets to be added.
- To explore produce for overseas market and start export business. Study for BS product market is underway.
-Expand New Product / Business scope, Enhance manufacturing capacity and increase productivity, Enhance Quality measures – Reduce Quality loss.
PERFORMANCE OF THE
COMPANY
The Company has during the year achieved a net sales of Rs.14155.000 Millions against a net sales of Rs.13176.400 Millions for the previous accounting year ended 31st March, 2012. The Company has reported a net profit of Rs.1889.000 Millions against a net profit of Rs. 1479.200 Millions in the last year.
The Company witnessed good growth in profit for the year on account of increase in business activity.
Fixed assets:
TANGIBLE ASSETS:
- Building
- Plant and Machinery
- Office Equipment
- Electric and Fitting
- Motor Vehicles
INTANGIBLE ASSETS:
- Goodwill
- 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 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.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
67 |
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.