|
Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA TRANSMISSION AND DISTRIBUTION SYSTEMS (INDIA) PRIVATE
LIMITED (w.e.f. 07.01.2014) |
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|
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Formerly Known
As : |
TERRA TRANSMISSION AND DISTRIBUTION INDIA PRIVATE LIMITED |
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Registered
Office : |
Rudraram Village, Patancheru Mandal, Medak District – 502329, Andhra
Pradesh |
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Country : |
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Date of
Incorporation : |
20.06.2013 |
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Com. Reg. No.: |
088501 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U40108AP2013PTC088501 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Transformers and Related Products. |
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No. of Employees
: |
4000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a newly incorporated subsidiary of “Toshiba Corporation, Japan”
which is establishing itself gradually. Mr. Krishnadas, Finance Manager provided complete information and
confirmed that the management of “Toshiba Corporation, Japan took over an
Indian company named as “Vijay Electricals Limited” on December 27th,
2013. Trade relations are improving. Business is active. Payment terms are
unknown. In view of strong parental support, the subject can be considered for
business dealings. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
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 PARTED BY
|
Name : |
Mr. Krishnadas |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9392148257 (Direct No.: 91-40-30712234) |
|
Date : |
17.05.2014 |
LOCATIONS
|
Registered Office : |
Rudraram Village, Patancheru Mandal, Medak District – 502329, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-30712222/ 30712269 |
|
Mobile No.: |
91-9392148257 (Mr. Krishnadas) |
|
Fax No.: |
91-40-30712245/ 30712222 |
|
E-Mail : |
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|
Website : |
|
|
Area : |
160 acer |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Aakash Anil Choubey |
|
Designation : |
Director |
|
Address : |
A-1101, Emgee Greens Chs, India Steel Complex, MTV Road, Wadala
(East), Mumbai – 400037, Maharashtra, India |
|
Date of Birth/Age : |
28.10.1982 |
|
DIN No.: |
00333303 |
|
|
|
|
Name : |
Mr. Umang Sunil Mehta |
|
Designation : |
Director |
|
Address : |
16, New Blue Gardenia, 4th Floor, Peddar Road, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1987 |
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DIN No.: |
06586612 |
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|
|
|
Name : |
Mr. Katsu Toshi Todha |
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Designation : |
Director |
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|
Name : |
Mr. Kaza Toshi Ogata |
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Designation : |
Director |
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|
Name : |
Mr. Isao Hioki |
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Designation : |
Director |
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Name : |
Mr. Masa Toshi Ono |
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Designation : |
Director |
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Name : |
Mr. Shinko Miyaka |
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Designation : |
Director |
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|
Name : |
Mr. Taka Toshi Miyamoto |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok Kamra |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Krishnadas |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Mr. Suresh Babu |
|
Designation : |
Secretary |
|
Address : |
12-2-823-A/76, Santosh Nagar, Mehdipatnam, Hyderabad – 500028, Andhra
Pradesh, India |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
28.12.2013 |
|
Tel No.: |
91-40-30717300 |
|
PAN No.: |
ACUPP4459Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 17.06.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Aakash Choubey |
|
5000 |
|
Umang S. Mehta |
|
5000 |
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|
|
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Total
|
|
10000 |
(AS ON 10.02.2014)
|
Name of Allottee |
|
No of Shares
Allottees |
|
|
|
|
|
Toshiba Corporation, Japan |
|
1633000000 |
|
|
|
|
|
Total
|
|
1633000000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Transformers and Related Products. |
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|
|
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Exports : |
|
|
Products : |
Transformers |
|
Countries : |
· Italy · Germany · UK · Mauritius |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
· USA · Japan |
|
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Terms : |
|
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Selling : |
L/C, Cash and Credit |
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|
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Raj Petro Specialties Private Limited, Mumbai, Maharashtra, India |
|
|
|
|
Customers : |
Wholesalers · APCPDCL – Andhra Pradesh, India |
|
|
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No. of Employees : |
4000 (Approximately) |
|
|
|
|
Bankers : |
· Deutsche Bank Bangalore Branch, Karnataka, India · Mizuho Bank Mumbai Branch, Maharashtra, India |
|
|
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Facilities : |
Non Fund – Rs.3000.000 Millions from Deutsche Bank Non Fund – Rs.3000.000 Millions from Mizuho Bank |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1633010000 |
Equity Shares |
Rs.10/- each |
Rs.16330.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
NEW BUSINESS
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
7163.900 |
The above information has been parted by Mr. Krishnadas.
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one years |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
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 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
NOTE:
The Registered Office of the company has been
shifted form Regus Hitechcity, Plot No. 18, Level 2, Oval Building,
iLabs Centre, Madhapur, Hyderabad – 500081, Andhra Pradesh, India, to the
present address w.e.f. 27.12.2013
PRESS RELEASES
TOSHIBA TO CLOSE ACQUISITION OF
T&D BUSINESS FROM VIJAI ELECTRICALS LIMITED, A MAJOR INDIAN MANUFACTURER
To establish a new company and global
supply chain
6 Jan, 2014
TOKYO—Toshiba Corporation
(TOKYO: 6502) has completed the acquisition of Vijai Electricals Limited’s
power transmission and distribution businesses. The acquired assets include
power transformer, distribution transformers and switchgear businesses.
A new Toshiba subsidiary,
Toshiba Transmission and Distribution Systems (India) Private Limited.
(“TTDI”), will run the acquired businesses and provide them with Toshiba’s
latest design, development and production capabilities in order to supply a
wide range of T&D products globally as well as in India. TTDI will also
deploy businesses in other areas, such as EHV and high voltage direct current
power transmission, static var compensators for high voltage networks and
railway power supply system, in India.
The acquisition allows Toshiba
to make a full-scale entry into India’s T&D market, where the company aims
to capture 20% share in five years. By 2015, Toshiba targets building a
700-billion yen global T&D and smart-grid business that will utilize TTDI
and established T&D manufacturing facilities in Japan, Brazil, China,
Russia, Malaysia and Vietnam, along with the global sales channels of Toshiba
subsidiary and Landis + Gyr AG.
OVERVIEW OF THE NEW COMPANY
· Company Name: Toshiba Transmission and Distribution Systems (India) Private Limited
· Chairman: Katsutoshi Toda
· Location of Office: Rudraram, Andhra Pradesh, Republic of India
· Date of Establishment: 27th Dec, 2013
· Number of Employees: Approx. 4,500
· Main Business: Engineering, Design, Procurement, Manufacturing, Delivery, Erection, Testing, Commissioning, Operation, Maintenance and other related activities for Transformer, Switchgear and other equipment for power, transmission and distribution systems.
TOSHIBA TO INVEST
RS.30000.000 MILLIONS IN INDIA, TO HIRE 5,000 PEOPLE
NEW DELHI,
FEBRUARY 14:
Japanese
engineering and electronics company Toshiba Corporation said it will invest over
Rs.30000.000 Millions in India over the next five years in energy transmission
and distribution equipment, energy-efficiency and software development
businesses.
The
company will hire 5,000 people in India over the period, as it will ramp up capacities
and also develop the third largest economy in Asia as an export hub for markets
for such as South-East Asia, West Asia and Africa.
Toshiba
President and CEO Hisao Tanaka, who is on his maiden visit to India, told
reporters: “For Toshiba, India is important not only as a market, but also as a
strategic export and development base with highly talented people. Toshiba will
position India as a strategic world business hub in its thermal power, energy
transmission and distribution equipment, water and waste-water treatment, and
software development businesses.”
He
said the company is targeting sales of Rs.180000.000 Millions from India by
2017.
“Over
70 per cent of the sales growth and employment creation will come from
infrastructure and power businesses,” he added.
Tanaka
said Toshiba will make additional investment in enhancing the company’s R&D
capabilities in India and will look at other partnerships with Indian
companies.
At
present, its joint ventures in India include Toshiba JSW Power Systems and
Toshiba Johnson Elevators India. It had acquired Vijai Electricals power
transmission and distribution business in December 2013 to form Toshiba
Transmission and Distribution Systems (India).
The
company may explore the renewable energy market. “India is a very attractive
market and we see a huge potential here. In the future, we would like to
harness the opportunity in the Indian renewable energy market,” he said.
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.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.