|
Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA TRANSMISSION AND DISTRIBUTION SYSTEMS (INDIA) PRIVATE
LIMITED (w.e.f. 07.01.2014) |
|
|
|
|
Formerly Known
As : |
TERRA TRANSMISSION AND DISTRIBUTION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
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|
Country : |
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|
|
|
|
Date of
Incorporation : |
20.06.2013 |
|
|
|
|
Com. Reg. No.: |
01-088501 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16330.100
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40108AP2013PTC088501 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
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|
|
Line of Business
: |
Manufacturer of Transformers and Related Products. |
|
|
|
|
No. of Employees
: |
4000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a newly incorporated subsidiary of “Toshiba Corporation, Mr. Krishnadas, Finance Manager provided complete information and
confirmed that the management of “Toshiba Corporation, 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to political
corruption. High inflation, poor standard of living are to a great extent a
result of rampant corruption in the country. China on the other hand, seems to
be facing diametrically opposite challenge. American hedge fund manager Jim
Chanos has been keenly following the political and economic development in the
dragon economy and has figured out something that is quite worrying. He is of
the view that the Chinese economy could be heading toward trouble on account of
new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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 PARTED BY
|
Name : |
Mr. Krishna |
|
Designation : |
Assistant Manager in International Marketing Department |
|
Contact No.: |
91-40-30712234 |
|
Date : |
02.09.2014 |
LOCATIONS
|
Registered Office/ Factory : |
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 : |
|
|
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 |
|
DIN No.: |
06586612 |
|
|
|
|
Name : |
Mr. Katsu Toshi Todha |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Kaza Toshi Ogata |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Isao Hioki |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Masa Toshi Ono |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shinko Miyaka |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Taka Toshi Miyamoto |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok Kamra |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Krishna |
|
Designation : |
Assistant Manager in International Marketing Department |
|
|
|
|
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
As on 17.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Aakash Choubey |
|
5000 |
|
Umang S. Mehta |
|
5000 |
|
Total |
|
10000 |
As on 10.02.2014
|
Names of Shareholders |
|
No. of Shares |
|
Toshiba Corporation, Japan |
|
1633000000 |
|
Total |
|
1633000000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Transformers and Related Products. |
|
|
|
|
Exports : |
|
|
Products : |
Transformers |
|
Countries : |
· Kenia · Ethiopia · Italy · Germany · UK · Mauritius |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
· USA · Japan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
No. of Employees : |
4100 (Approximately) |
|
|
|
|
Bankers : |
·
Deutsche Bank, Bangalore Branch, Karnataka, India · Mizuho Bank, Mumbai Branch, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C Venkatr Krishna and Company Chartered Accountants |
CAPITAL STRUCTURE
As on 17.06.2013
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]
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
7163.900 |
The above information has been parted by Mr. Krishna
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one year |
Yes |
|
12] |
Profitability for last one year |
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 |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
No |
|
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 |
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
NO CHARGES EXIST FOR COMPANY
PRESS RELEASES
TOSHIBA TO CLOSE
ACQUISITION OF T AND 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.
TOSHIBA ANNOUNCES
SOCIAL INFRASTRUCTURE STRATEGY GROUNDED IN EXPANSION FROM INDIA TO THE WORLD
- Plans to
invest over Rupees 3000 crores in India over next 5 years
- Targets a sales of Rupees 18000 crores from India by 2017
- Plans to more than double the number of employees in India to 8000 employees
14 Feb, 2014
Delhi, India—Toshiba Corporation (TOKYO: 6502) today
announced a comprehensive strategy for expanding its social infrastructure
business in Asia and around the world that positions India as a strategic
business hub. On his maiden visit to India, Toshiba’s President and CEO, Mr.
Hisao Tanaka, along with the top executives of the company, shared the Group’s
roadmap for Indian continent.
Sharing the details on infrastructure technologies and
know-how that Toshiba will deploy in India in support of building a better
Future, Mr. Tanaka explained the range and diversity of the company’s business,
particularly its expertise in key areas of social infrastructure.
A Vision for India and
the Future
Underlining Toshiba’s commitment to India, Toshiba President
and CEO, Mr. Hisao Tanaka said, ”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. In the five years
from FY2013 to 2017, the company will invest over 500 million USD, equivalent
to 30 billion rupees in India, and create employment for over 5,000 people.”
Mr. Tanaka was joined by three top executives, who explained
their strategic plans for India and Toshiba’s comprehensive solutions in three
areas crucial for building a better tomorrow: ‘Making Energy’, ‘Transmitting
and Storing Energy’ and ‘Smart Use of Energy’.
Making Energy: Power
Generation Systems
Mr. Yasuharu Igarashi, Executive Officer and Corporate Executive
Vice President responsible for Toshiba’s Power Systems business explained a
regional and global expansion plan centering on Toshiba JSW Power Systems
Private Ltd., joint venture Corporation with JSW Group, one of India’s leading
conglomerates, with a turbine manufacturing plant in Chennai. The company is
currently manufacturing five supercritical turbines and generators ordered by
NTPC Ltd. and others. The Company’s end-to-end integrated capabilities cover
engineering, manufacturing, procurement, construction and services, allowing it
to offer EPC (engineering, procurement and construction) system in India and
the surrounding areas.
Looking to the future, particularly in Southeast Asia, the
Middle East and Africa, where many major thermal power generation projects are
planned, Toshiba will reinforce and expand its thermal power business in India
and the wider region in cooperation with Toshiba’s global engineering function
in Japan.
In the field of hydroelectric power generation, Toshiba is
also eager to contribute to the development of India by deploying Toshiba
Group’s comprehensive capabilities. Through cooperation with plant engineering
company TPSC India, Toshiba will offer one-stop solutions covering engineering,
manufacturing, procurement, commissioning and services in India.
Transmitting and
Storing Energy: Social Infrastructure Systems
Mr. Toshio Masaki, Executive Officer and Corporate Executive
Vice President responsible for Toshiba’s Social Infrastructure Systems
business, shared Toshiba’s Group’s integrated capabilities that allow it to
offer one-stop solutions for India’s energy grid. Toshiba Transmission &
Distribution Systems (India) Pvt. Ltd., a company built around the acquisition
of Vijai Electricals Ltd.’s power transmission and distribution businesses in
December 2013, and reinforced with Toshiba’s know-how from Japan, provides
Toshiba with a platform for a full-scale entry into India’s T&D market. The
company will offer Toshiba’s latest design, development and production capabilities
in order to supply a wide range of T&D products in India and beyond, in the
wider global market. The company will also supply compensators for high voltage
networks and railway power supply systems in India.
Smart Use of Energy:
Community Solutions Systems
Mr. Shinichiro Akiba, Executive Officer and Corporate Senior
Vice President responsible for Toshiba’s Community Solutions Business, offered
a vision of the global realization of a sustainable next generation society
grounded in innovative community solutions. Community solutions systems cover
key areas of daily life, including water and environment systems, building and
elevator systems, lightning technologies and air conditioning. In this key
business area, Toshiba has been promoting business with highly capable and
experienced Indian partners. For instance, Toshiba Johnson Elevators (India)
Private Limited was established in
October 2012 as a joint venture with Johnson Lifts Private Limited, a company
with over 50 years of history and the No.1 share in India. This alliance will
strengthen growth and expand operation in the Indian lift market. Most
recently, in December 2013, Toshiba agreed to a strategic alliance with UEM
India, a provider EPC services for water and wastewater treatment, operation
and maintenance in India and the world market.
“Toshiba targets a sale of US$3billion, approximately 180
billion Rupees in FY2017 from the India region, some seven times the current
level. Employment will also grow with this expansion. By FY2017, Toshiba
expects to employ about 8,000 people in India, 2.5 times the current figure.
Over 70% of the sales growth and employment creation will come from
infrastructure-related businesses”, added Mr. Tanaka.
Toshiba in India
Toshiba has a long established relationship with India, one
that dates back to the 1960s and the supply of hydroelectric power plants. That
was extended to thermal power plants in the 1990s. In September 2001, seeking
to build a stronger presence, Toshiba established Toshiba India Private Ltd.,
which today promotes a wide range of electronics products and solutions,
including consumer electronics. The company now has 10 group companies, with
over 3,000 employees as end of March 2013.
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.60.44 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
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.