MIRA INFORM REPORT
|
Report No. : |
353773 |
|
Report Date : |
12.12.2015 |
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 – 400093, Maharashtra |
|
Tel. No.: |
91-22-30418888 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.04.1981 |
|
|
|
|
Com. Reg. No.: |
11-128292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4433.134 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH1981FTC128292 |
|
|
|
|
IEC No.: |
0305037714 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18689G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA2190C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Marketer of Electrical Switches and
Accessories, Wires, Luminaries and Fans. (From Indirect Sources) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Panasonic Corporation Limited”. The
company is engaged in manufacturing and marker of electrical construction
materials such as wiring devices, breakers, electric cables lighting fixtures,
lamps and fans. It caters to Electrical and Electronics Industry. For the financial year ended 2014, company has achieved 14.06% growth
in its revenue profile but net profit has declined by 32.39 over previous
year profit. However, company has able to maintained satisfactory margins at
7.89% during FY2014. Rating also takes into consideration company’s healthy operational
profile supported by its healthy financial base along with strong net worth
profile and strong debt coverage indicators. Rating also takes into account of promoter’s extensive experience in
electrical products and solutions domain supported by well qualified
management with Products and solutions domain supported by well qualified management
with adequate manpower to cater to various
solar domains along with technical support from parent company and strong
track record of the parent company in the solar segment. However, rating strength is partially offset by exposed to project
execution risks given limited track record of executing EPC projects in solar
PV domain in India marked by exposed to stiff completion in the solar domain
given large number of players, profitability levels likely to remain moderate
given stiff competition in the EPC space and working capital intensive nature
of operations. Trade relations are reported as fair. Payments are reported to be
regular and as per commitment. In view of adequate business profile, the company can be considered
good for normal business dealings at usual trade terms and conditions. Note: As per registrar of companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2015 but the documents related to the
financial for the year 31.03.2015 are not available from any source.) |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
SP 2A |
|
Rating Explanation |
High Performance Capacity and Highest
Financial Strength |
|
Date |
March, 2015 |
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Manoj Deshmukh |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-3041888808 |
|
Date : |
05.12.2015 |
LOCATIONS
|
Registered/ Regional 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 |
|
Mobile No.: |
91-9320690293 (Mr. Vilas Dattatray) |
|
Fax No.: |
91-22-30418886/ 30418884/ 30418885/ 30418886/ 30418887 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
State Offices : |
Located at: ·
Guwahati ·
Patna ·
Ranchi ·
Bhubaneswar ·
Siliguri · Mumbai · Raipur · Panjim ·
Ahmedabad ·
Indore ·
Mumbai ·
Solan ·
Faridabad ·
Jammu ·
Secunderabad ·
Chennai ·
Cochin |
|
|
|
|
Sales Offices : |
Located at: ·
Sambalpur ·
Pune ·
Navi
Mumbai ·
Nanded ·
Aurangabad ·
Kolhapur ·
Thane ·
Mumbai ·
Vadodara ·
Rajkot ·
Surat ·
Bhopal ·
Kashmir ·
Jaipur ·
Lucknow ·
Uttarakhand ·
Ludhiana ·
Udaipur ·
Varanasi ·
Rudrapur ·
Amritsar ·
Jodhpur ·
Ghaziabad ·
Kanpur ·
Allahabad ·
Mangalore ·
Mysore ·
Coimbatore ·
Madurai ·
Pondicherry · Hubli |
|
|
|
|
Regional Office : |
Located at: · Kolkata · New Delhi · Bangalore |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Mitsuru Shirasawa |
|
Designation : |
Managing Director |
|
Address : |
Lakeside Chalet Marriott Executive Apartment, 2 and 3, Near Chinmayanand Ashram, Powai, Mumbai - 400072, Maharashtra, India |
|
Date of Appointment : |
15.06.2015 |
|
DIN No.: |
07158438 |
|
|
|
|
Name : |
Mr. Junji Kojima |
|
Designation : |
Whole-Time Director |
|
Address : |
Lakeside Chalet Marriott Executive Apartment, 2 and 3, Near Chinmayanand Ashram, Powai, Mumba - 400087, Maharashtra, India |
|
Date of Appointment : |
15.06.2015 |
|
DIN No.: |
07154653 |
|
|
|
|
Name : |
Mr. Ashok Samji Gangar |
|
Designation : |
Whole-Time Director |
|
Address : |
A/6, Navtrilok Co-Operative Housing Society Limited, Sangeeta, Wadi, Dombivali (East), Thane - 401201, Maharashtra, India |
|
Date of Appointment : |
15.06.2015 |
|
DIN No.: |
00479861 |
|
|
|
|
Name : |
Mr. Dinesh Vishwanath Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
A 404, A Wing, Rainbow, 4th Floor, Raheja Vihar, Near Chandivali Studio, Powai, Mumbai – 400072, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1964 |
|
Date of Appointment : |
19.05.2012 |
|
DIN No.: |
03006235 |
|
|
|
|
Name : |
Takashi Ogasawara |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
688-7-705, Huangjinchegdao, Changning, Shanghai - 200335, China |
|
Date of Birth/Age : |
28.12.1964 |
|
Date of Appointment : |
05.06.2013 |
|
DIN No.: |
06596396 |
|
|
|
|
Name : |
Toshihide Arii |
|
Designation : |
Additional Director |
|
Address : |
8-1-908, Ikagakitamachi, Hirakata Shi, Osaka, Japan - 5730036, India |
|
Date of Birth/Age : |
30.09.1956 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
01451322 |
|
|
|
|
Name : |
Mr. Takaki Oguri |
|
Designation : |
Managing Director |
|
Address : |
Apartment No. 816, Marriott Executive Apartments, 2 & 3B, Near Chinmayanand Ashram, Powai, Mumbai - 400087, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1962 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
01450431 |
|
|
|
|
Name : |
Toshio Omori |
|
Designation : |
Whole Time 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 : |
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 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Vasant Deshmukh |
|
Designation : |
Secretary |
|
Address : |
G 1002 Eternity, Teenhath Naka, Thane (West), Thane – 400604,
Maharashtra, India |
|
Date of Birth/Age : |
30.04.1964 |
|
Date of Appointment : |
29.11.2013 |
|
PAN No.: |
AHMPD2381G |
|
|
|
|
Name : |
Mr. Vilas Daltatray |
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS
AS ON 15.06.2015
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Panasonic Corporation |
17643387 |
|
Panasonic Eco Solutions Switchgear Device Company Limited (Name
changed from Panasonic Electric Works Company Limited), Japan |
1 |
|
Total |
17643388 |
|
Names of Shareholders (Preference Shares) |
No. of Shares |
|
Panasonic Corporation |
425670000 |
|
Total |
425670000 |
AS ON 30.05.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketer of Electrical Switches and
Accessories, Wires, Luminaries and Fans. (From Indirect Sources) |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
--- |
|
|
|
|
Agencies Held : |
--- |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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|
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|
Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
--- |
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Panasonic Corporation Limited, Japan |
|
|
|
|
Subsidiary : |
Firepro Systems Private Limited |
CAPITAL STRUCTURE
AS ON 15.06.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000000 |
Equity Shares |
Rs.10/- each |
Rs. 45000.000 Million |
|
500000000 |
Preference Shares |
Rs.10/- each |
Rs. 5000.000 Million |
|
5000000000 |
Total
|
|
Rs. 50000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17643388 |
Equity Shares |
Rs.10/- each |
Rs. 176.434
Million |
|
425670000 |
Preference Shares |
Rs.10/- each |
Rs. 4256.700
Million |
|
443313388 |
Total |
|
Rs. 4433.134 Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000000 |
Equity Shares |
Rs.10/- each |
Rs. 45000.000 Million |
|
500000000 |
Preference Shares |
Rs.10/- each |
Rs. 5000.000 Million |
|
5000000000 |
Total
|
|
Rs. 50000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15140000 |
Equity Shares |
Rs.10/- each |
Rs. 151.400
Million |
|
425670000 |
Preference Shares |
Rs.10/- each |
Rs. 4256.700 Million |
|
440810000 |
Total |
|
Rs. 4408.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4408.100 |
4408.100 |
4375.200 |
|
(b) Reserves & Surplus |
11409.500 |
10480.200 |
6015.600 |
|
(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) |
15817.600 |
14888.300 |
10390.800 |
|
|
|
|
|
|
(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 |
174.800 |
103.000 |
84.200 |
|
Total
Non-current Liabilities (3) |
174.800 |
103.000 |
84.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
247.900 |
0.000 |
0.000 |
|
(b)
Trade payables |
2119.400 |
1766.500 |
1794.100 |
|
(c)
Other current liabilities |
376.400 |
343.200 |
574.800 |
|
(d)
Short-term provisions |
540.400 |
524.500 |
590.100 |
|
Total
Current Liabilities (4) |
3284.100 |
2634.200 |
2959.000 |
|
|
|
|
|
|
TOTAL |
19276.500 |
17625.500 |
13434.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4414.300 |
4601.700 |
2524.200 |
|
(ii)
Intangible Assets |
36.300 |
117.100 |
184.900 |
|
(iii)
Capital work-in-progress |
92.900 |
64.300 |
1278.600 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2954.700 |
2954.700 |
0.000 |
|
(c) Deferred tax assets
(net) |
100.600 |
39.800 |
210.200 |
|
(d) Long-term Loan
and Advances |
1006.600 |
922.300 |
871.200 |
|
(e)
Other Non-current assets |
2.400 |
3.500 |
8.800 |
|
Total
Non-Current Assets |
8607.800 |
8703.400 |
5077.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2434.200 |
2232.000 |
1956.500 |
|
(c)
Trade receivables |
4737.400 |
4239.000 |
3869.800 |
|
(d)
Cash and cash equivalents |
2824.900 |
1926.500 |
1966.300 |
|
(e)
Short-term loans and advances |
532.400 |
425.900 |
396.000 |
|
(f)
Other current assets |
139.800 |
98.700 |
167.500 |
|
Total
Current Assets |
10668.700 |
8922.100 |
8356.100 |
|
|
|
|
|
|
TOTAL |
19276.500 |
17625.500 |
13434.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
16188.700 |
14155.000 |
13176.400 |
|
|
|
|
Other Income |
286.600 |
288.100 |
367.200 |
|
|
|
|
TOTAL (A) |
16475.300 |
14443.100 |
13543.600 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Variable cost |
9174.300 |
7518.300 |
6997.100 |
|
|
|
|
Employee cost |
1659.200 |
1347.400 |
1249.800 |
|
|
|
|
Operating and other expenses |
3555.900 |
3358.600 |
2900.700 |
|
|
|
|
Exceptional items |
0.000 |
(621.600) |
0.000 |
|
|
|
|
TOTAL (B) |
14389.400 |
11602.700 |
11147.600 |
|
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2085.900 |
2840.400 |
2396.000 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
27.400 |
27.000 |
36.100 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2058.500 |
2813.400 |
2359.900 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
518.400 |
500.000 |
560.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1540.100 |
2313.400 |
1799.900 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
262.200 |
424.400 |
320.700 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
(G-H) (I) |
1277.900 |
1889.000 |
1479.200 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
7506.500 |
5966.100 |
4833.200 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed Final Dividend (Preference) |
298.000 |
298.000 |
298.000 |
|
|
|
|
Tax on Dividend |
50.600 |
50.600 |
48.300 |
|
|
|
BALANCE CARRIED
TO THE B/S |
8435.800 |
7506.500 |
5966.100 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
0.300 |
NA |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
2.90 |
4.28 |
0.034 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
1778.500 |
1844.100 |
1638.400 |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
1360.200 |
731.600 |
1244.200 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.89 |
13.35 |
11.23 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
12.88 |
20.07 |
18.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.55 |
15.88 |
15.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.16 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.02 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.25 |
3.39 |
2.82 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4375.200 |
4408.100 |
4408.100 |
|
Reserves & Surplus |
6015.600 |
10480.200 |
11409.500 |
|
Net
worth |
10390.800 |
14888.300 |
15817.600 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
247.900 |
|
Total
borrowings |
0.000 |
0.000 |
247.900 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.016 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
13176.400 |
14155.000 |
16188.700 |
|
|
|
7.427 |
14.367 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
13176.400 |
14155.000 |
16188.700 |
|
Profit |
1479.200 |
1889.000 |
1277.900 |
|
|
11.23% |
13.35% |
7.89% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
CASE
DETAILS
|
BENCH:- BOMBAY |
|||
|
|
|||
|
Lodging No.:- |
NMSL/1538/2012 |
Filing Date:- |
04/05/2012 |
|
Main Matter |
|||
|
Lodging No.:- |
|
|
|
|
|
|||
|
Petitioner:- |
India Sales Agency and Dilip Shah |
Respondent:- |
Anchor Electricals Private Limited |
|
Petn.Adv.:- |
D.H. Law Associates |
|
|
|
District:- |
Mumbai |
|
|
|
|
|||
|
Bench:- |
Single |
|
|
|
Status:- |
Transferred |
Category:- |
Notice Of Motion. |
|
Transfer Date:- |
03/10/2012 |
Remark:- |
Main Suit Trf. To Bombay City Civil Court,
Mumbai. |
|
|
|||
|
Act :- |
Code Of Civil Procedure 1908 |
||
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and
advances |
247.900 |
0.000 |
|
|
|
|
|
Total |
247.900 |
0.000 |
CORPORATE INFORMATION
The 'Company' was incorporated
on 2nd April, 1981 under the provisions of the Companies Act, 1956. The Company
is principally engaged in manufacture and marketing of electrical switches and
accessories, wires, luminaries and fans. The Company is a subsidiary of
Panasonic Corporation, Japan.
PERFORMANCE OF THE COMPANY
During the year under
review, The Company achieved a net sales of Rs.16188.700 million against a net
sales of Rs.13953.600 million for the previous financial year ended 31st March,
2013. The Company has reported a net profit of Rs.1277.900 million against a
net profit of Rs. 188.900 million last year.
CORPORATE REVIEW:
A) Wiring Devices Business Unit:
During the year, Wiring Devices Business Unit (WD-BU) achieved
satisfactory results by undertaking operations on all themes set for the
financial year. As you are aware that the wiring devices of The Company enjoy
good reputation and market share, the WD-BU concentrated on further
consolidating position of the products of the Company. The WD-BUs focus has been
on continuous growth with the aim to achieve complete customer satisfaction by
engaging in
· New product development by considering the customer?s requirements and
suggestions
· Maintaining Product Quality- by implementing and maintaining better
inward and outward quality checks
· Product Availability by improving productivity
During the year following new products were launched:
i) Vision Hospitality series.
The product with new technology of screw less termination has been accepted
in the Indian market. Response from customers, end users, specifiers, dealers
and internal sales team has been very favorable. The Product series is expected
to become a dominant brand in the Premium Segment.
ii) Ave Allumia range and Weather Proof boxes Ave Sistema 44 series for
Luxury segment was launched during the year. In order to cater outdoor
application your Company introduced weather proof boxes suitable for Sistema 44
and is admired in the market.
iii) Ave Home Automation
The Company also entered into Home Automation segment with Ave Home
Automation series. Now customers in the luxury segment are offered basket of
complete Ave Wiring Devices and Home Automation products.
iv) Imrpoved version of Penta 2 in 1 socket was launched which is more
safe, comfortable and reliable.
FIXED ASSETS:
TANGIBLE ASSETS:
·
Leasehold Land
·
Building
·
Plant and Equipment
·
Office Equipment
·
Electric and Fitting
·
Vehicles
INTANGIBLE ASSETS:
·
Goodwill
·
Software
·
Factory Licenses
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. 66.79 |
|
|
1 |
Rs. 101.10 |
|
Euro |
1 |
Rs. 73.10 |
INFORMATION DETAILS
|
Information
gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
SYL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
75 |
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.