MIRA INFORM REPORT
|
Report No. : |
325234 |
|
Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIEMENS LIMITED (31.03.1987) |
|
|
|
|
Formerly Known
As : |
SIEMENS INDIA LIMITED (w.e.f. 23.10.1967) SIEMENS ENGINEERING AND MANUFACTURING CO. OF INDIA LIMITED SIEMENS ENGINEERING AND
MANUFACTURING CO. OF INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
130, Pandurang Budhkar Marg, Worli, Mumbai – 400018, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
30.09.2014 |
|
|
|
|
Date of
Incorporation : |
02.03.1957 |
|
|
|
|
Com. Reg. No.: |
11-010839 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 712.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28920MH1957PLC010839 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS0764L |
|
|
|
|
Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Providing technology enabled solutions for the industry, energy,
infrastructure and cities, and healthcare sectors. |
|
|
|
|
No. of Employees
: |
10933 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa (86) |
|
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 |
|
Maximum Credit Limit : |
USD 125000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “SIEMENS AG”. It is a well-established and
a reputed company having and excellent track record. The rating reflects Siemens’ diversified business portfolio supported by
healthy financial risk profile and strong liquidity position of the company. Further rating also takes into consideration financial and managerial
support that company receives from its parent company. Trade relations are fair. Business is active. Payments terms are
regular and as per commitments. The company can be considered good for normal business dealing at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
26.06.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
26.06.2014 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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.
LOCATIONS
|
Registered/ Corporate Office : |
130, Pandurang
Budhkar Marg, Worli, Mumbai - 400018, Maharashtra, India |
|
Tel. No.: |
91-22–24987000/ 01/
02/ 24931349/ 50 |
|
Fax No.: |
91-22–24987500/
52/ 24941758 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant Locations : |
·
MAHARASHTRA
·
GOA o
L-6, Verna Industrial Area, Panjim-Margao
Highway, Verna, Goa – 403722, India ·
GUJARAT
·
ANDHRA PRADESH o
Plot No. 89 and 90, IDA, Gandhinagar, Post
Balanagar, Hyderabad – 500037, Andhra Pradesh, India ·
KARNATAKA o
972, Devanahalli Road, Off Old Madras Road,
Virgonagar Post, Bangalore - 560049, Karnataka, India ·
WEST BENGAL o
Nimpura Industrial Growth Centre, Po:
Rakhajungle, Paschim Midnapur, Kharagpur – 721301, West Bengal, India ·
PUDUCHERRY
·
HARYANA o
Sector-18, Unit No. 37, Gurgaon – 122002,
Haryana, India ·
TAMILNADU o
309/2, Chettipedy Village, Thandalam Post
Sriperumbudur Taluka, Kancheepuram District – 602105, Tamilnadu, India |
|
|
|
|
Sales Office 1 : |
3rd Floor, Jyoti Mahal, No. 49, St. Marks Road, Bangalore – 560001, Karnataka, India |
|
Tel. No.: |
91-80-22042000 |
|
Fax No.: |
91-80-41120435 |
|
|
|
|
Sales Office 2 : |
Plot No. 78, JIL Jagatjit Industries Limited, Tower A and B, Sector 18, Gurgaon – 122015, Haryana, India |
|
Tel. No.: |
91-124-2842000/ 3846000 |
|
Fax No.: |
91-124-2349050 |
|
|
|
|
Regional Service
Center : |
3rd Floor, Prerna Arbour, Off C G Road, Girish Cold Drink Cross Road, Navarangpura, Ahmadabad -380009, Gujarat, India |
|
Tel. No.: |
91-79-40207413 |
|
Fax. No.: |
91-79-40207699 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Deepak S. Parekh |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
18.10.1944 |
|
Qualification : |
B. Com, FCA (England and Wales) |
|
Expertise in specific functional areas : |
Strategic Business Management, Finance & Banking and Mergers and Acquisition |
|
Date of Appointment : |
07.11.2003 |
|
|
|
|
Name : |
Mr. Sunil D Mathur |
|
Designation : |
Managing Director and Chief Executive Officer |
|
|
|
|
Name : |
Mr. Darius C. Shroff |
|
Designation : |
Director |
|
Date of Birth/Age : |
08.08.1944 |
|
Qualification : |
B.A (Hons), LL.B, Solicitor (Member of The Incorporated Law Society, Mumbai) and Advocate (High Court Bombay) |
|
Expertise in specific functional areas : |
Corporate and Commercial Laws; Labour and Industrial Laws |
|
Date of Appointment : |
20.02.1997 |
|
|
|
|
Name : |
Mr. Yezdi H. Malegam |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.09.1933 |
|
Qualification : |
B.Com. Fellow Member of The Institute of Chartered Accountants of India as well as of England and Wales |
|
Expertise in specific functional areas : |
Accounting, Finance and
Corporate & Securities Laws |
|
Date of Appointment : |
01.04.1998 |
|
|
|
|
Name : |
Mr. Narendra J. Jhaveri |
|
Designation : |
Director |
|
Date of Birth/Age : |
09.08.1935 |
|
Qualification : |
Master’s Degree in Economics from Gujarat University M.Sc. in Economics from The London School of Economics |
|
Expertise in specific functional areas : |
Economics and Corporate Finance |
|
Date of Appointment : |
09.11.2000 |
|
|
|
|
Name : |
Mr. Keki Dadiseth |
|
Designation : |
Director |
|
Date of Birth/Age : |
20.12.1945 |
|
Qualification : |
B.Com. Fellow Member of The Institute of Chartered Accountants - England and Wales |
|
Expertise in specific functional areas : |
Finance, Business Management and Mergers & Acquisitions |
|
Date of Appointment : |
27.01.2006 |
|
|
|
|
Name : |
Mr. Pradip V. Nayak |
|
Designation : |
Director |
|
Date of Birth/Age : |
06.09.1943 |
|
Qualification : |
A degree in Economics and Politics from the University of York, England. He also read Law at Grays Inn, London |
|
Expertise in specific functional areas : |
Human Resource and
Corporate Communications |
|
Date of Appointment : |
27.01.2006 |
|
|
|
|
Name : |
Mr. Joe Kaeser |
|
Designation : |
Director |
|
Date of Birth/Age : |
23.06.1957 |
|
Qualification : |
Studied Business Administration Dipl.-Betriebswirt |
|
Expertise in specific functional areas : |
Corporate Finance and Business Management |
|
Date of Appointment : |
01.10.2006 |
|
|
|
|
Name : |
Dr. Roland Busch |
|
Designation : |
Special Director (Nominee of Siemens AG) |
|
|
|
|
Name : |
Ms. Mariel von Drathen |
|
Designation : |
Director (w.e.f. 2nd August, 2013) |
|
|
|
|
Name : |
Mr. Johannes Apitzsch |
|
Designation : |
Director* (Alternate Director for Dr. Roland Busch upto 22nd November, 2013) |
|
|
|
|
Name : |
Mr. Christian Rummel |
|
Designation : |
Executive Director and Chief Financial Officer (with effect from 1st February, 2014) |
|
Date of Birth/Age : |
17.04.1969 |
|
Qualification : |
Graduate in Business Management |
|
Expertise in specific functional areas : |
Corporate Finance & Business Administration |
|
Date of Appointment : |
01.02.2014 |
KEY EXECUTIVES
|
Name : |
Mr. Ketan Thaker |
|
Designation : |
Company Secretary |
|
|
|
|
Audit Committee : |
·
Mr.
Yezdi H. Malegam - Chairman ·
Mr.
Deepak S. Parekh ·
Mr.
Keki B. Dadiseth · Mr. Johannes Apitzsch |
|
|
|
|
Nomination and Remuneration Committee : |
·
Mr.
Narendra J. Jhaveri Chairman ·
Mr.
Darius C. Shroff ·
Mr.
Deepak S. Parekh ·
Mr.
Pradip V. Nayak ·
Mr.
Joe Kaeser · Ms. Mariel von Drathen |
|
|
|
|
Stakeholders
Relationship Committee : |
·
Mr.
Darius C. Shroff - Chairman ·
Mr.
Pradip V. Nayak ·
Mr.
Sunil Mathur |
|
|
|
|
Corporate
Governance Committee : |
·
Mr.
Deepak S. Parekh - Chairman ·
Mr.
Sunil Mathur ·
Mr.
Christian Rummel · Ms. Mariel von Drathen |
|
|
|
|
Risk Management Committee : |
·
Mr.
Yezdi H. Malegam - Chairman ·
Mr.
Deepak S. Parekh ·
Mr.
Keki B. Dadiseth · Mr. Johannes Apitzsch |
|
|
|
|
Share Transfer
Committee : |
·
Mr.
Sunil Mathur - Chairman · Mr. Christian Rummel |
|
|
|
|
Corporate Governance Committee : |
·
Mr.
Keki B. Dadiseth - Chairman ·
Mr.
Deepak S. Parekh ·
Mr.
Yezdi H. Malegam ·
Mr.
Darius C. Shroff ·
Mr.
Joe Kaeser ·
Mr.
Sunil Mathur ·
Dr.
Roland Busch · Mr. Johannes Apitzsch |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholder |
Total No. of Shares |
As a % |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
267089913 |
75.00 |
|
|
267089913 |
75.00 |
|
Total
shareholding of Promoter and Promoter Group (A) |
267089913 |
75.00 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
11991360 |
3.37 |
|
|
116565 |
0.03 |
|
|
250 |
0.00 |
|
|
21178858 |
5.95 |
|
|
13481418 |
3.79 |
|
|
2921938 |
0.82 |
|
|
2921938 |
0.82 |
|
|
49690389 |
13.95 |
|
|
|
|
|
|
4306607 |
1.21 |
|
|
|
|
|
|
32567419 |
9.15 |
|
|
1437474 |
0.40 |
|
|
1028393 |
0.29 |
|
|
91839 |
0.03 |
|
|
29250 |
0.01 |
|
|
907304 |
0.25 |
|
|
39339893 |
11.05 |
|
Total
Public shareholding (B) |
89030282 |
25.00 |
|
Total
(A)+(B) |
356120195 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
356120195 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provides technology enabled solutions for the industry,
energy, infrastructure and cities, and healthcare sectors. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
-- |
||||||||
|
|
|
||||||||
|
Agencies Held : |
-- |
||||||||
|
|
|
||||||||
|
Exports : |
Not Available |
||||||||
|
|
|
||||||||
|
Imports : |
Not Available |
||||||||
|
|
|
||||||||
|
Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
Customers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
No. of Employees : |
10933 (Approximately) |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
· Citibank N. A · Deutsche Bank AG · The Hongkong and Shanghai Banking Corporation Limited · Standard Chartered Bank · HDFC Bank Limited · ICICI Bank Limited ·
State Bank of India |
||||||||||||||
|
|
|
||||||||||||||
|
Facilities : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
|
|
|
Cost Auditors : |
|
|
Name : |
R. Nanabhoy and
Company Cost Accountants |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company: |
Siemens AG |
|
|
|
|
Fellow Subsidiaries: |
·
Siemens
S.A. Angola ·
Siemens
S.A. Argentina ·
Siemens
Limited Australia ·
ETM
professional control GmbH Austria ·
Siemens
Aktiengesellschaft Osterreich Austria ·
Siemens
Convergence Creators GmbH Austria ·
Siemens
VAI Metals Technologies GmbH Austria ·
Siemens
VAI Metals Technologies GmbH & Co Austria ·
Siemens
AG Osterreich, Plant Rail Systems Wien Austria ·
Siemens
AG Osterreich, Plant Transformers Wien Austria ·
Trench
Austria GmbH Austria ·
Siemens
W.L.L. Bahrain ·
Siemens
Bangladesh Limited Bangladesh ·
Siemens
Healthcare Diagnostics SA Belgium ·
Siemens
S.A./N.V. Belgium ·
Siemens
Eletroeletronica Limitada Brazil ·
Siemens
Ltda. Brazil ·
Siemens
EOOD Bulgaria ·
RuggedCom
- SCL Canada ·
Siemens
Hearing Instruments Inc. Canada ·
Trench
Limited Canada ·
SCL
- Process Instruments Business Unit Canada ·
Siemens
Canada Limited Canada ·
Siemens
Healthcare Diagnostics Manufacturing Limited Cayman Islands ·
Siemens
S.A. Chile ·
Beijing
Siemens Cerberus Electronics Limited China ·
MWB
(Shanghai) Co Limited China ·
Siemens
Circuit Protection Systems Limited China ·
Siemens
Electrical Apparatus Limited China ·
Siemens
Electrical Drives (Shanghai) Limited China ·
Siemens
Electrical Drives Limited China ·
Siemens
Factory Automation Engineering Limited China ·
Siemens
Healthcare Diagnostics (Shanghai) Co. Limited China ·
Siemens
High Voltage Circuit Breaker Co., Limited China ·
Siemens
High Voltage Switchgear Co., Limited Shanghai China ·
Siemens
Industrial Automation Limited, Shanghai China ·
Siemens
International Trading Limited, Shanghai China ·
Siemens
Limited, China China ·
Siemens
Mechanical Drive Systems (Tianjin) Co., Limited China ·
Siemens
Medium Voltage Switching Technologies (Wuxi) Limited China ·
Siemens
Numerical Control Limited China ·
Siemens
Power Automation Limited China ·
Siemens
Power Plant Automation Limited China ·
Siemens
Shanghai Medical Equipment Limited China ·
Siemens
Shenzhen Magnetic Resonance Limited China ·
Siemens
Standard Motors Limited, Jiangsu China ·
Siemens
Switchgear Co. Limited China ·
Siemens
Transformer (Guangzhou) Co., Limited China ·
Siemens
VAI Metals Technologies Co., Limited, Shanghai China ·
Siemens
Wind Power Blades (Shanghai) Co., Limited China ·
Siemens
Wiring Accessories Shandong Limited China ·
Siemens
X-Ray Vacuum Technology Limited, Wuxi China ·
Trench
High Voltage Products Limited, Shenyang China ·
Winergy
Drive Systems (Tianjin) Co. Limited China ·
Siemens
Sensors & Communication Limited China ·
Siemens
S.A. Columbia ·
Koncar
Power Transformers d.o.o. (erstwhile Koncar Power Transformers ·
Limited) ·
Croatia ·
Siemens
d.d. Croatia ·
Siemens
Electric Machines s.r.o. Czech Republic ·
Siemens,
s.r.o. Czech Republic ·
Siemens,
s.r.o., odstepny zavod Industrial Turbomachinery Czech Republic ·
Siemens
A/S Denmark ·
Siemens
Wind Power A/S Denmark ·
Siemens
S.A. Ecuador ·
Siemens
Technologies S.A.E. Egypt ·
Siemens
Osakeyhtio Finnland ·
Flender-Graffenstaden
SAS France ·
Siemens
Industry Software SAS France ·
Siemens
S.A.S. France ·
Siemens
SAS, Division Production Sensors & Communication, Usine de ·
Haguenau ·
France ·
Siemens
Transmission & Distribution SAS France ·
Siemens
VAI Metals Technologies SAS France ·
Trench
France S.A.S. France ·
Alpha
Verteilertechnik GmbH Germany ·
evosoft
GmbH Germany ·
HSP
Hochspannungsgerate GmbH Germany ·
Loher
GmbH Germany ·
Siemens
Bank GmbH Germany ·
Siemens
Beteiligungen Inland GmbH Germany ·
Siemens
Geared Motors Gesellschaft mit beschrankter Haftung Germany ·
Siemens
Gusstechnik GmbH Germany ·
Siemens
Healthcare Diagnostics Holding GmbH Germany ·
Siemens
Healthcare Diagnostics Products GmbH Germany ·
Siemens
Industrial Turbomachinery GmbH Germany ·
Siemens
Industriegetriebe GmbH Germany ·
Siemens
Power Control GmbH Germany ·
Siemens
Turbomachinery Equipment GmbH Germany ·
Siemens
VAI Metals Technologies GmbH Germany ·
SYKATEC
Systeme, Komponenten, Anwendungstechnologie GmbH Germany ·
TLT-Turbo
GmbH Germany ·
Trench
Germany GmbH Germany ·
Siemens
Insulation Center GmbH & Co. KG Germany ·
Weiss
Spindeltechnologie GmbH Germany ·
Electrium
Sales Limited Great Britain ·
I
DT Factory Congleton Great Britain ·
Siemens
Healthcare Diagnostics Manufacturing Limited Great Britain ·
Siemens
Healthcare Diagnostics Products Limited Great Britain ·
Siemens
Industrial Turbomachinery Limited Great Britain ·
Siemens
Magnet Technology Great Britain ·
Siemens
plc Great Britain ·
Siemens
plc, Industry Sector, Metals Technologies Great Britain ·
Siemens
Protection Devices Limited Great Britain ·
Siemens
Transmission & Distribution Limited Great Britain ·
Siemens
VAI Metals Technologies Limited Great Britain ·
Siemens
Water Technologies Limited (sold with effect from 15.01.2014) Great Britain ·
Siemens
Industry Software Limited Great Britain ·
Siemens
Healthcare Diagnostics Limited Hongkong ·
Siemens
Limited Hongkong ·
Siemens
Rail Automation Private Limited India ·
eMeter
India Private Limited India ·
OSRAM
India Private Limited India ·
PETNET
Radiopharmaceutical Solutions Private Limited India ·
Powerplant
Performance Improvement Limited India ·
Siemens
Convergence Creators Private Limited India ·
Siemens
Financial Services Private Limited India ·
Siemens
Hearing Instruments Private Limited India ·
Siemens
Industry Software (India) Private Limitedcv India ·
Siemens
Postal Parcel & Airport Logistics Private Limited India ·
Siemens
Technology and Services Private Limited India ·
P.T.
Siemens Indonesia Indonesia ·
PT.
Siemens Industrial Power Indonesia ·
Europlex
Technologies (Ireland) Limited Ireland ·
Siemens
Limited Ireland ·
Siemens
Medical Solutions Diagnostics Europe Limited Ireland ·
Siemens
Concentrated Solar Power Limited Israel ·
Siemens
Israel Limited Israel ·
Siemens
S. p.A Metals Technologies, Milano ( erstwhile Siemens VAI ·
Metals
Technologies S.r.l.) ·
Italy ·
Siemens
S.p.A. Italy ·
Trench
Italia S.r.l. Italy ·
HV-Turbo
Italia S.r.l. Italy ·
Siemens
Healthcare Diagnostics K.K. Japan ·
Siemens
Japan K.K. Japan ·
Siemens
TOO Kazakhstan ·
Siemens
Limited Seoul Korea ·
Siemens
Energy Solutions Limited Korea ·
Siemens
PETNET Korea Co. Limited Korea ·
Siemens
Electrical & Electronic Services K.S.C.C. Kuwait ·
Siemens
Malaysia Sdn. Bhd. Malaysia ·
Siemens
Innovaciones S.A. de C.V. Mexico ·
Siemens
Servicios S.A. de C.V. Mexico ·
Siemens,
S.A. de C.V. Mexico ·
Siemens
Plant Operations Tahaddart SARL Morocco ·
Siemens
S.A. Morocco ·
Siemens
Nederland N.V. Netherland ·
Siemens
Nederland N.V. - dependent ARE E P Netherland ·
Siemens
(N.Z.) Limited New Zealand ·
Siemens
Limited Nigeria ·
Siemens
AS Norway ·
Siemens
L.L.C. Oman ·
Siemens
S.A.C. Peru ·
Siemens
Power Operations, Inc. Philippines ·
Siemens,
Inc. Philippines ·
Siemens
Sp. z o.o. Poland ·
TurboCare
Sp. z o.o. Poland ·
Siemens
S.A. Portugal ·
Siemens
W.L.L. Qatar ·
Siemens
S.R.L. Romania ·
SIMEA
S.R.L., Plan SEIT Sibiu Romania ·
OOO
Siemens Russia ·
OOO
Siemens Gas Turbine Technologies Russia ·
OOO
Siemens High Voltage Products Russia ·
Arabia
Electric Limited (Equipment) Saudi-Arabia ·
ISCOSA
Industries and Maintenance Limited Saudi-Arabia ·
Siemens
Limited Saudi-Arabia ·
Siemens
d.o.o. Beograd Serbia ·
Siemens
Electronics Assembly Systems Pte. Limited Singapore ·
Siemens
Healthcare Diagnostics Pte. Limited Singapore ·
Siemens
Pte. Limited Singapore ·
Siemens
Water Technologies Pte. Limited Singapore ·
Siemens
s.r.o. Slovakia ·
Siemens
(Proprietary) Limited South Africa ·
Fabrica
Electrotecnica Josa, S.A. Spain ·
Siemens
S.A. Spain ·
Siemens
AB Sweden ·
Siemens
Industrial Turbomachinery AB Sweden ·
Siemens,
Security Products Sweden ·
Siemens
Schweiz AG Switzerland ·
Siemens
Schweiz AG, Building Technologies Division, International ·
Headquarters ·
Switzerland ·
Siemens
Limited Taiwan ·
Siemens
Limited Thailand ·
Siemens
S.A. Tunisia ·
Siemens
Sanayi ve Ticaret A.S. Turkey ·
Siemens
Ukraine (erstwhile DP Siemens Ukraine) Ukraine ·
SD
(Middle East) LLC UAE ·
Siemens
LLC UAE ·
Siemens
Demag Delaval Turbomachinery, Inc. USA ·
Siemens
Energy, Inc. USA ·
Siemens
Energy, Inc. (US) - Fossil Products (OPP) USA ·
Siemens
Energy, Inc. (US) - Oil& Gas (PT2) USA ·
Siemens
Energy, Inc. (US) - Transmission (PPR) USA ·
Siemens
Healthcare Diagnostics Inc. USA ·
Siemens
Corporation USA ·
Siemens
Industry, Inc. USA ·
Siemens
Medical Solutions USA, Inc. USA ·
Siemens
Water Technologies LLC USA ·
SMS
Inc. - Customer Solutions Group USA ·
Winergy
Drive Systems Corporation USA ·
Siemens
Postal, Parcel & Airport Logistics LLC USA ·
Siemens
Product Lifecycle Management Software Inc. USA ·
Siemens
S.A. Venezuela ·
Siemens
Automation Systems Limited Vietnam · Siemens Limited Vietnam |
CAPITAL STRUCTURE
AS ON 30.09.2014
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000,000 |
Equity Shares |
Rs.2/- each |
Rs. 2000.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
356,983,950 |
Equity Shares |
Rs.2/- each |
Rs. 714.000 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
356,119,885 |
Equity Shares |
Rs.2/- each |
Rs. 712.000 Million |
|
|
|
|
|
Shares held by
Holding Company and subsidiary of Holding Company:
255,351,805 Equity shares of Rs.2 each, fully paid-up, are held by the Holding Company, Siemens AG, Germany; 11,738,108 Equity shares of Rs.2 each, fully paid-up, are held by Siemens VAI Metals Technologies GmbH, a 100% subsidiary of Siemens AG, Germany.
Reconciliation of the
number of shares outstanding at the beginning and at the end of the year:
|
Particular |
Number |
Rs In Million |
|
Shares outstanding at the beginning of the year |
356,119,885 |
712.000 |
|
Shares issued/subscribed during the year |
-- |
-- |
|
Shares outstanding at the end of the Year |
356,119,885 |
712.000 |
During the previous year, the
paid up share capital had increased consequent to the issue of 15,824,785
equity shares on the amalgamation of SVAI, SPEL and Winergy and allotment of 75
equity shares to member upon settlement of a disputed case.
Details of
shareholders holding more than 5% shares in the Company as on 30th September
2014:
|
Particular |
No. of shares held |
% of Holding |
|
Siemens Aktiengesellschaft, Germany and its subsidiary. |
267,089,913 |
75.00% |
|
Life Insurance Corporation of India |
* |
* |
As per of the Company,
including its register of shareholders / members and other declarations
received from shareholders regarding beneficial interest, the above
shareholding represents both legal and beneficial ownerships of shares.
*
denotes holding not more than 5%
Details of aggregate
number of shares issued for consideration other than cash and bonus shares
issued during the period of five years immediately preceding 30 September:
|
Equity shares
allotted as |
30.09.2014 |
|
Fully paid up to the shareholders of Siemens Healthcare Diagnostics Limited. In accordance with the scheme of amalgamation |
3,134,700 |
|
Fully paid up to the shareholders of Siemens VAI Metals Technologies Private Limited. in accordance with the scheme of amalgamation |
11,738,108 |
|
Fully paid up to the shareholders of Siemens Power Engineering Private Limited. In accordance with the scheme of amalgamation |
3,461,538 |
|
Fully paid up to the shareholders of Winergy Drive Systems India Private Limited. In accordance with the scheme of amalgamation |
625,139 |
Terms / rights
attached to equity shares
The Company has only one class
of equity shares having a par value of Rs.2 per share. Each holder of equity shares is entitled to one
vote per share. The Company declares and pays dividends in Indian rupees.
During the year ended 30 September 2014, the amount of per share dividend recognized for distribution to equity shareholders is Rs.6.
In the event of liquidation
of the Company, the holder of equity shares will be entitled to receive
remaining assets of the Company, after
distribution of all preferential amounts (if any). The distribution will be in
proportion to the number of equity shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.09.2014 |
30.09.2013 |
30.09.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
712.000 |
712.000 |
681.000 |
|
(b) Reserves & Surplus |
43044.000 |
39591.000 |
38922.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Share capital suspense account |
0.000 |
0.000 |
23.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
43756.000 |
40303.000 |
39626.000 |
|
|
|
|
|
|
(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 |
522.000 |
837.000 |
1048.000 |
|
(d) long-term
provisions |
2669.000 |
2535.000 |
3075.000 |
|
Total Non-current
Liabilities (3) |
3191.000 |
3372.000 |
4123.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
27373.000 |
25518.000 |
26542.000 |
|
(c) Other
current liabilities |
16471.000 |
15700.000 |
22079.000 |
|
(d) Short-term
provisions |
11797.000 |
13547.000 |
14077.000 |
|
Total Current
Liabilities (4) |
55641.000 |
54765.000 |
62698.000 |
|
|
|
|
|
|
TOTAL |
102588.000 |
98440.000 |
106447.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
13442.000 |
13559.000 |
13901.000 |
|
(ii)
Intangible Assets |
114.000 |
230.000 |
221.000 |
|
(iii) Capital
work-in-progress |
409.000 |
889.000 |
850.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
82.000 |
432.000 |
410.000 |
|
(c) Deferred tax assets (net) |
3738.000 |
4297.000 |
3176.000 |
|
(d)
Long-term loans and Advances |
6358.000 |
6164.000 |
5341.000 |
|
(e) Other
Non-current assets |
4183.000 |
6705.000 |
7773.000 |
|
Total Non-Current
Assets |
28326.000 |
32276.000 |
31672.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
10472.000 |
9334.000 |
9431.000 |
|
(c) Trade
receivables |
36437.000 |
37668.000 |
39124.000 |
|
(d) Cash
and cash equivalents |
11210.000 |
6038.000 |
9768.000 |
|
(e) Short-term
loans and advances |
7776.000 |
4909.000 |
5690.000 |
|
(f) Other
current assets |
8367.000 |
8215.000 |
10762.000 |
|
Total
Current Assets |
74262.000 |
66164.000 |
74775.000 |
|
|
|
|
|
|
TOTAL |
102588.000 |
98440.000 |
106447.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.09.2014 |
30.09.2013 |
30.09.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net) |
106626.000 |
113526.000 |
129199.000 |
|
|
|
Other Income |
1039.000 |
345.000 |
575.000 |
|
|
|
TOTAL
(A) |
107665.000 |
113871.000 |
129774.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
25870.000 |
26056.000 |
25984.000 |
|
|
|
Purchases of Stock-in-Trade |
24413.000 |
23629.000 |
24398.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1487.000) |
224.000 |
(1014.000) |
|
|
|
Project bought outs and other direct costs |
26746.000 |
35459.000 |
49115.000 |
|
|
|
Employees benefits expense |
14118.000 |
13524.000 |
11959.000 |
|
|
|
Exceptional items |
(3827.000) |
(325.000) |
1200.000 |
|
|
|
Prior period items |
0.000 |
0.000 |
799.000 |
|
|
|
Other expenses |
11023.000 |
10427.000 |
9844.000 |
|
|
|
TOTAL (B) |
96856.000 |
108994.000 |
122285.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10809.000 |
4877.000 |
7489.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.000 |
189.000 |
270.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10727.000 |
4688.000 |
7219.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2291.000 |
2502.000 |
2010.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
8436.000 |
2186.000 |
5209.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2404.000 |
246.000 |
1777.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6032.000 |
1940.000 |
3432.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods Direct on FOB basis |
4170.000 |
5101.000 |
3283.000 |
|
|
|
Project Business (Based on Actual Billing) |
8336.000 |
7128.000 |
14067.000 |
|
|
|
Commission |
317.000 |
570.000 |
326.000 |
|
|
|
Service charges and others |
3368.000 |
2672.000 |
1141.000 |
|
|
TOTAL EARNINGS |
16191.000 |
15471.000 |
18817.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials, components, spare parts and traded goods |
34026.000 |
34869.000 |
39859.000 |
|
|
|
Capital Goods |
492.000 |
445.000 |
1031.000 |
|
|
TOTAL IMPORTS |
34518.000 |
35314.000 |
40890.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
17.54 |
5.69 |
9.75 |
|
|
|
Diluted
|
16.94 |
5.45 |
9.75 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
30.09.2014 |
30.09.2013 |
30.09.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
8039.000 |
2848.000 |
3990.000 |
KEY
RATIOS
|
PARTICULARS |
|
30.09.2014 |
30.09.2013 |
30.09.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.66 |
1.71 |
2.66 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.14 |
4.30 |
5.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.58 |
2.36 |
5.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.05 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.21 |
1.19 |
STOCK
PRICES
|
Face Value |
Rs. 2/- |
|
|
|
|
Market Value |
Rs. 1378.25/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
30.09.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
681.000 |
712.000 |
712.000 |
|
Reserves & Surplus |
38922.000 |
39591.000 |
43044.000 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share capital suspense account |
23.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
39626.000 |
40303.000 |
43756.000 |
|
|
|
|
|
|
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 |
30.09.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
129199.000 |
113526.000 |
106626.000 |
|
|
|
(12.131) |
(6.078) |
NET PROFIT MARGIN
|
Net Profit Margin |
30.09.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
129199.000 |
113526.000 |
106626.000 |
|
Profit |
3432.000 |
1940.000 |
6032.000 |
|
|
2.66% |
1.71% |
5.66% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
||||
|
Presentation Date:- 28/01/2015 |
||||
|
Lodging
No.:- |
NMAL/284/2015 |
Filing
Date:- |
28/01/2015 |
|
|
Main Matter |
||||
|
Lodging
No.:- |
APPL/120/2015 |
Reg. No.: |
APP/272/2015 |
|
|
|
||||
|
Petitioner:- |
SIMPLEX INFRASTRUCTURES LIMITED |
Respondent:- |
SIEMENS LIMITED AND ANR- |
|
|
Petn. Adv:- |
SANTOSH SUBHASH MISHRA (I4042) |
|||
|
District:- |
OUTSIDE MAHARASHTRA |
|||
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTION (APPEAL) |
|
|
Last
Date:- |
05/03/2015 |
Stage:- |
-- |
|
|
Last
Coram:- |
HON'BLE SHRI JUSTICE V.M. KANADE HON'BLE SHRI JUSTICE A.R. JOSHI |
|||
|
Act :- |
Arbitration and Conciliation Act 1996 |
|||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90229627 |
19/04/2010 * |
21,660,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A85386936 |
|
2 |
90103749 |
11/10/2001 * |
40,000,000.00 |
BANK OF BARODA |
R.C. DUTT ROAD,
ALKAPURI BRANCH, BARODA, GUJARAT, |
- |
|
3 |
90227321 |
26/12/1972 |
127,500,000.00 |
AMERCAN EXPRESS
BANK LTD |
364 DADABHAI
NAOMJI ROAD, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION
Subject was incorporated on 2nd
March, 1957 initially as a private limited company under the name Siemens Engineering
and Manufacturing Co. of India Private Limited by the Registrar of Companies,
Maharashtra, vide Certificate of Incorporation No. 10839 of 1956-57.
Subsequently, the Company was converted into public company. The name of the
Company was thereafter changed from Siemens Engineering and Manufacturing Co.
of India Limited to Siemens India Limited on 23rd October, 1967 and thereafter
to the present name on 31st March, 1987.
OPERATIONS
The Turnover of the Company decreased
by approximately 6% and stood at Rs.106.626
Million as compared to Rs.113.526
Million in the previous year. The Company’s Profit from Operations for the year
ended 30th September, 2014 was Rs.3.652
Million as compared to Rs.1.705
Million in the corresponding period of the previous year.
The Profit after Tax was Rs.6.032 Million, compared to Rs.1.940 Million during 2012-13.
In line with Siemens Global
strategic re-alignment, the Company’s businesses have with effect from 1st
October, 2014 been classified into eight new ‘Divisions’ namely Power and Gas,
Power Generation Services, Energy Management, Building Technologies, Mobility,
Process Industries & Drives, Digital Factory and Healthcare.
MANAGEMENT’S
DISCUSSION AND ANALYSIS
GENERAL PERFORMANCE
REVIEW
Over the financial year 2014,
India’s macro-economic scenario remained stagnant. According to the Centre for
Monitoring Indian Economy, the growth rate of the nation’s Gross Domestic
Product (GDP) was at around 5.03 per cent in 2014 (October 2013 to September
2014) compared to the growth rate of around 4.65 per cent in 2013 (October 2012
to September 2013).
Factors contributing to the low
rate of growth in previous years continued in the financial year 2013-14 as
well. While interest rates in general remained high resulting in subdued demand
and investments, delayed decision-making due to the uncertain political and
economic conditions further stalled major infrastructure and power projects.
With the National Elections having resulted in a resounding majority to a
single political party in May 2014, public sentiment has since substantially
improved and there is considerable hope that the new Government will start
creating an environment conducive to investment. Initial steps taken by the
Government have been positive, however it will take some time before projects
put on hold in the past will be cleared and will start contributing to the
economy. It will also take some time before interest rates are reduced and
fresh capacities are set up.
Nevertheless, the Management of
Siemens Limited is optimistic that once these reforms start concretising into
action on the ground, the opportunities for Siemens in the areas of Energy
Generation, Transmission & Distribution, Smart Cities, Mobility Solutions
and Factory Automation under the “Make in India” initiative should increase
substantially. Overall though, currently, the macro-economic situation is still
challenging and concrete policy measures are yet to impact business. Siemens
Limited’s results during financial year 2013-14 were also affected due to these
factors. New Orders were down by 6% at Rs.103.238
Million in financial year 2013-14, compared with Rs.109.573
Million in financial year 2012-13. Sales (excluding Other Operating Revenues)
were down by 6% to Rs.104.483 Million, compared with Rs.111.452 Million in financial year 2012-13, while
Profit after Tax (PAT) was up by 211% at Rs.6.032
Million compared with Rs.1.940 Million in financial year
2012-13. This was largely due to exceptional items of Rs.3827 Million in financial year 2013-14 as against Rs.325.000 Million in financial year 2012-13.
OUTLOOK
During
the financial year 2013-14, the Company has aligned its structure to Siemens’ Global Vision 2020 strategy.
As of 1st October, 2014, the Company has eliminated Sectors and has bundled
business into eight Divisions: Power and Gas, Power Generation Services, Energy
Management, Mobility, Building Technologies, Digital Factory, Process
Industries & Drives, and Healthcare. The new organization with a flatter
structure is aimed at increasing proximity to customers.
Overall,
the macro-economic situation is still challenging and concrete policy measures
announced during the financial year 2013-14 will take time to reflect in
business. The Company has taken measures to increase its competitiveness and
strengthen its capabilities. With 23 factories manufacturing products such as
Steam Turbines, Switchgear, Remote Monitoring Systems (RMS), Motors and
Generators, Relays and Smart Grid Systems, Transformers, Railway Bogies and
X-ray Machines, the Company has proven its capability to Make in India.
On
the basis of these strengths, the Company expects profitable and sustainable
growth in the future. It is however important that financial and regulatory
reforms continue to take effect. Concrete measures must be taken to facilitate
the completion of large infrastructure projects that have been stalled, while
encouraging new projects.
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER ENDED 31ST MARCH 2015
(RS. IN MILLION)
|
Particulars
|
31.03.2015 |
31.12.2014 |
31.03.2015 (Unaudited Six Months Ended) |
|
|
|
|
|
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
25888.828 |
21408.118 |
47297.046 |
|
b) Other operating income |
640.905 |
451.553 |
1092.458 |
|
Total
income from Operations(net) |
26529.833 |
21859.671 |
48389.504 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
9643.738 |
10652.636 |
20296.374 |
|
b) Purchases of stock in trade |
7768.246 |
5930.578 |
13698.824 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
495.359 |
(2255.710) |
(1760.351) |
|
d) Employees benefit expenses |
3277.553 |
3294.393 |
6571.946 |
|
e) Depreciation and amortization expenses |
552.860 |
504.072 |
1116.932 |
|
f) Other expenditure |
2843.561 |
2340.794 |
5184.355 |
|
Total expenses |
24581.317 |
20526.763 |
45108.080 |
|
|
|
|
|
|
3. Profit from operations before other income and
financial costs |
1948.516 |
1332.908 |
3281.424 |
|
4. Other income |
360.479 |
295.794 |
656.273 |
|
5. Profit from ordinary activities before finance costs |
2308.995 |
1628.702 |
3937.697 |
|
6. Finance costs |
12.561 |
18.888 |
31.449 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
2296.434 |
1714.522 |
4010.956 |
|
8. Exceptional item |
74.494 |
7045.878 |
7120.372 |
|
9. Profit from ordinary activities before tax
Expense: |
2370.928 |
8655.692 |
11026.620 |
|
10.Tax expenses |
752.268 |
2315.359 |
3067.627 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
1618.660 |
6340.333 |
7958.993 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for
the period (11-12) |
1618.660 |
6340.333 |
7958.993 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
712.240 |
712.240 |
712.240 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
NA |
NA |
NA |
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
|
|
|
|
(a) Basic |
4.38 |
2.98 |
7.36 |
|
(b) Diluted |
4.55 |
17.80 |
22.35 |
|
Particulars
|
31.03.2015 |
31.12.2014 |
31.03.2015 (Unaudited Six Months Ended) |
|
|
|
|
|
|
A.
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1.
Public Shareholding |
|
|
|
|
- Number of shares |
89030282 |
89029972 |
89030282 |
|
- Percentage of shareholding |
25.00% |
25.00% |
25.00% |
|
2.
Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
267089913 |
267089913 |
267089913 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
Percentage of shares (as a % of total share capital of the
company) |
75.00% |
75.00% |
75.00% |
|
|
Particulars |
Quarter Ended |
|
B |
Investor Complaints |
31 March 2015 |
|
|
Pending at the beginning of the quarter |
1 |
|
|
Received during the quarter |
8 |
|
|
Disposed off during the quarter |
7 |
|
|
Remaining unresolved at the end of the
quarter |
2 |
|
SOURCES OF FUNDS |
Six Months Ended
(Unaudited) March 2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
(1) Shareholders' Funds |
|
|
(a) Share Capital |
712.240 |
|
(b) Reserves & Surplus |
51026.673 |
|
(c) Money
received against share warrants |
0.000 |
|
(d) Share capital suspense account |
0.000 |
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
51738.913 |
|
|
|
|
(3)
Non-Current Liabilities |
|
|
(a) long-term borrowings |
1005.815 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
|
(d) long-term
provisions |
2313.298 |
|
Total Non-current
Liabilities (3) |
3319.113 |
|
|
|
|
(4)
Current Liabilities |
|
|
(a) Short
term borrowings |
0.000 |
|
(b) Trade
payables |
23743.824 |
|
(c) Other
current liabilities |
12919.041 |
|
(d) Short-term
provisions |
7250.876 |
|
Total Current
Liabilities (4) |
43913.741 |
|
|
|
|
TOTAL |
98971.767 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current
assets |
|
|
(a) Fixed
Assets |
|
|
(i)
Tangible assets |
14229.932 |
|
(ii)
Intangible Assets |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
|
(b) Non-current Investments |
629.050 |
|
(c) Deferred tax assets (net) |
3715.216 |
|
(d) Long-term loans and Advances |
6263.127 |
|
(e) Other
Non-current assets |
2432.757 |
|
Total Non-Current
Assets |
27270.082 |
|
|
|
|
(2)
Current assets |
|
|
(a)
Current investments |
0.000 |
|
(b)
Inventories |
12404.735 |
|
(c) Trade
receivables |
31076.796 |
|
(d) Cash
and cash equivalents |
14258.838 |
|
(e)
Short-term loans and advances |
6903.085 |
|
(f) Other
current assets |
7058.231 |
|
Total
Current Assets |
71701.685 |
|
|
|
|
TOTAL |
98971.767 |
NOTES:
1. a) Exceptional items for the quarter ended 31 March 2015 and quarter ended 31 December 2014 represents profit on sale or Metals Technologies business, effective form the close of business on 31 December 2014. Further, exceptional items for the quarter ended 31 March 2015 represents adjustment made to the profit on sale of MT business as a result of change in net assets transferred. The corresponding tax impact on the said transactions for the quarter ended 31 March 2015 and 31 December 2014 amounts to Rs. 169.000 Million and Rs. 176663.000 Million respectively and for six month ended 31 March 2015 amounts to Rs. 17832.000 Million. The results of discontinued operations included in the above financial results and segment are as follows.
|
Particulars
|
31.03.2015 |
31.012.2014 |
31.03.2015 (Unaudited
Six Months Ended) |
|
|
|
|
|
|
Revenue |
--- |
1504.698 |
1504.698 |
|
Expenses |
--- |
1609.406 |
1609.406 |
|
Loss before tax |
--- |
(104.708) |
(104.708) |
|
Capital employed |
--- |
-- |
-- |
b) Exceptional items for the year ended 30 September 2014 consist of profit on sale of properly and CENVAT credit on certain services for earlier years, net of impairment loss for the six months ended 31 March 2014 represents CENVAT credit on certain services for earlier years.
2.
During
the quarter ended 31 December 2014, the Company had changed accounting policy
for revenue recognition of its Healthcare business. Consequently, the net sales
and profit before tax for the said quarter were lower by Rs. 17595.000 Million
and Rs. 667.000 Million (including those relating to earlier years of RS.
10063.000 Million and RS. 414.000 Million) respectively. For the current
quarter, the impact of the aforesaid change in policy is not material.
-
Figure for the previous period have been regrouped wherever
necessary to make them comparable.
4.
The
financial results for the quarter ended 31 March 2015 have been subjected to a
review by the statutory auditors of the company.
5.
The
above financial results were reviewed and approved by the Audit Committee and
the Board of Directors approved the same at their meeting held on 24 April
2015.
UNAUDITED FINANCIAL RESULTS AND CAPITAL
EMPLOYED FOR THE QUARTER AND SIX MONTHS ENDED 31 MARCH 2015
(RS. IN MILLION)
|
Particulars |
31.03.2015 |
31.12.2014 |
31.03.2015 (Unaudited
Six Months Ended) |
|
|
|
|
|
|
a. Information
about Primary Business Segments |
|
|
|
|
1.
Segment Revenue |
|
|
|
|
Power and Gas |
3188.105 |
4494.017 |
7682.122 |
|
Energy Management |
8224.360 |
5832.423 |
14056.783 |
|
Building
Technologies |
746.715 |
701.794 |
1448.509 |
|
Mobility |
2587.039 |
1783.609 |
4370.648 |
|
Digital Factory |
3999.762 |
3883.524 |
7883.285 |
|
Process Industries |
4879.536 |
3611.834 |
8491.370 |
|
Healthcare |
4206.015 |
1409.376 |
5615.393 |
|
Metals Technologies |
--- |
1504.698 |
1504.698 |
|
Others |
154.092 |
109.185 |
263.277 |
|
Total |
27985.624 |
23330.461 |
51316.085 |
|
|
|
|
|
|
Less : Inter Segment Revenue |
1455.791 |
1470.790 |
2926.581 |
|
Net
Sales/ Income from Operation |
26529.833 |
21859.671 |
48389.504 |
|
|
|
|
|
|
2.
Segment Result |
|
|
|
|
Profit / (Loss)
before tax and Interest from each segment |
|
|
|
|
Power and Gas |
471.346 |
490.918 |
962.264 |
|
Energy Management |
628.824 |
324.591 |
953.415 |
|
Building
Technologies |
46.373 |
55.446 |
101.819 |
|
Mobility |
221.830 |
98.442 |
320.272 |
|
Digital Factory |
299.434 |
322.961 |
622.395 |
|
Process Industries |
225.632 |
71.709 |
297.341 |
|
Healthcare |
108.877 |
55.331 |
164.208 |
|
Metals Technologies |
--- |
(103.356) |
(103.356) |
|
Others |
33.676 |
41.541 |
75.217 |
|
Total |
2035.992 |
1357.583 |
3393.575 |
|
|
|
|
|
|
Add: |
|
|
|
|
Interest
Income |
330.357 |
295.794 |
626.151 |
|
Exceptional
items |
74.494 |
7045.878 |
7120.372 |
|
Other un-allocable Income net off
un-allocable expenditure |
(57.354) |
(24.675) |
(62.029) |
|
|
|
|
|
|
Less: |
|
|
|
|
Interest Expenses |
12.561 |
18.888 |
31.449 |
|
|
|
|
|
|
Profit before tax |
2370.928 |
8655.692 |
11026.620 |
|
|
|
|
|
|
3. Capital
Employed (Segment Assets-Segment Liabilities) |
|
|
|
|
Power and Gas |
2777.134 |
2516.004 |
2777.134 |
|
Energy Management |
14152.564 |
14361.918 |
14152.564 |
|
Building
Technologies |
613.415 |
518.455 |
613.415 |
|
Mobility |
1768.451 |
2690.498 |
1768.451 |
|
Digital Factory |
2231.018 |
1859.244 |
2231.018 |
|
Process Industries |
4759.399 |
4546.254 |
4759.399 |
|
Healthcare |
439.528 |
(439.692) |
439.528 |
|
Metals Technologies |
--- |
--- |
--- |
|
Others |
1944.845 |
1330.392 |
1944.845 |
|
Total Capital
Employed |
51738.913 |
50095.051 |
51739.913 |
CONTINGENT
LIABILITIES:
|
Particulars |
30.09.2014 (Rs.
In Million) |
30.09.2013 (Rs.
In Million) |
|
Income tax (excluding interest) |
170.000 |
201.000 |
|
Excise / sales tax liabilities, under dispute |
3464.000 |
1945.000 |
|
Customs liabilities, under dispute |
120.000 |
120.000 |
|
Claims
against the company not acknowledged as debts In respect of above contingent liabilities, the future cash outflows are determinable only on receipt of judgements pending at various forums / authorities. |
537.000 |
105.000 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
PRESS RELEASES
SIEMENS LAYS OFF 200, MAY CUT MORE
Globally, the company intends to cut expenses by $7.8 billion by 2014
June 21, 2013
Siemens Limited, the
Indian arm of German multi-national engineering
giant Siemens AG, has laid off over 200 employees across various units in the
country amid uncertain business environment and a sharp drop in profit. Siemens
is looking to sack another 400 employees, said an executive familar with the cost
rationalisation drive.
Most people laid off are in the junior management and officer category from
both technical and non-technical departments in factories and offices in Kalwa
(Mumbai), Kolkata and Vadodara. Several of them are over 50 years and only with
a few years of services left. However, no union members have been sacked.
The lay-offs have mostly been in the switch-gear and transformer divisions,
where the business has slowed down. Siemens' downsizing move is not unique to
India. Globally, the company has undertaken a massive exercise to slash
expenses by $7.8 billion (Rs.464700.000 Million today) by 2014. According to a
recent Bloomberg report, Siemens group has identified 8,000 job cuts globally.
It has about 370,000 employees globally.
Key sectors
Siemens operates in four key sectors—energy, health care, industries and
infrastructure. It employs over 11,200 people in India and competes with both
Indian and foreign companies such as Crompton Greaves, ABB, General Electric
and Alstom.
A slump in the capital goods sector has hit Siemens’ profit, and last year, the
company shut down its wind turbine plant in Vadodara. In the last six months
(the company follows the October-September financial calender), the order
inflow rose merely two per cent over the corresponding period of last year.
Sales were lower 17 per cent and net profit was down 74 per cent for the first
two quarters.
A company spokesperson added: “As part of the global operations of Siemens, in
India, too, we regularly reassess and consequently realign capacities. Siemens
has been present in India for over 140 years, and it is fully committed to
India, which remains an important growth market for us.”
The company gave no other explanation for the retrenchment, but sources and
analysts believe this is the result of consolidation of various business units
of the Siemens group and the company's drive to rationalise costs and improve
profit.
"In tough times, we have to take tough decisions. I am not paid to be the
most popular guy. I am paid to be the most successful guy to run the company.
Run a sustainable profitable company. The focus for the next 12 months is to
cut cost and avoid loss making investments,'' Siemens India's managing director
Armin Bruck said in a recent interview.
The affected employees, however, blame the company management for the crisis.
SIEMENS GETS NOD TO SET UP 6 MORE CENTRES OF
EXCELLENCE IN GUJARAT
The Gujarat government has
given its nod to German company Siemens to set up six more
centres of
excellence in the state's engineering colleges with an investment of Rs.7149.000
Million.
Siemens has already invested about Rs.5000.000 Million for setting up five such
centres of excellence in the state for which MoUs had been signed two years
back, state Finance Minister Saurabh Patel told PTI today.
With the availability of more funds, the Germany-based company approached the
Gujarat government in August for approval of its request to set up of six more
such centres in the engineering colleges of the state within the company's
current fiscal year ending on September 30, which has been granted, he said.
These centres of excellence will be set up at colleges in Morbi, Rajkot,
Bhavnagar, Patan, Jamnagar and Mehsana, he said.
These six centres will be in addition to the state government's already approved
five centres of excellence under PPP mode with the co-operation of Siemens
Industry Software (India) Private Limited, Patel said.
"The main focus of these centres is to train students of different
engineering institutes in-line with the latest industry needs and emerging
trends. These centres will be instrumental in providing skilled manpower to the
industries and employment opportunities to the youth," he added.
SIEMENS INDIA MAY TURN PROFITABLE, Q3 NET SEEN AT
RS.900.000 MILLION
Siemens India may turn profitable, Q3 net seen at Rs.900.000 Million
Siemens India , which will announce its third quarter (April-June) earnings
today, may report profit after tax of Rs.900.000 Million during the quarter as
against loss of Rs.490.000 Million in the year-ago period, according to
CNBC-TV18 poll estimates.
The company follows October-September as its financial year. Total
income from operations is expected to increase by 2.2 percent to Rs.27010.000
Million in the quarter ended June 2014 from Rs.26430.000 Million in the
year-ago period. Operating profit may be at Rs.1850.000 Million versus loss of Rs.60.000 Million and margin
is likely to be at 6.8 percent as against negative 0.2 percent year-on-year.
Expectations Analysts expect stagnant order book and clients related
issues in specific projects to lead to muted execution Flat order book Y-o-Y
(Rs.130000.000 Million ) does not support revenue growth While margin is likely
to improve significantly Y-o-Y due to high provision last year, all analysts
will be focused on Q-o-Q margin performance and if they remain stable. What to
watch out for is recovery in margins, reversal of provisions for cost overruns
and pick up in execution apart from order inflow.
SIEMENS WINS INTERNATIONAL RECOGNITION FOR ITS MOTORS
MANUFACTURED IN INDIA
Mumbai,
2014-Oct-16
Siemens wins the “Global Efficiency Medal for Motors” for the Indian
region in the First Ever Global Efficiency Medal Competition for
Super-Efficient Electric Motors. The award was conferred by SEAD (Super-efficient
Equipment and Appliance Deployment), an initiative of the Clean Energy
Ministerial. This award will enhance buyers' ability to differentiate and
choose among products on the basis of their energy efficiency.
Siemens India won the Super-Efficient Equipment Appliance Deployment
(SEAD) Global Efficiency Medal for its 1LA2 series of Low Voltage IE3 induction
motors, verified by testing of 3.7kW and 11kW models. The Super-efficient
Equipment and Appliance Deployment (SEAD) initiative is an international collaboration
of 16 countries and an initiative under the Clean Energy Ministerial, a global
forum to share best practices and promote policies and programs that encourage
and facilitate the transition to a clean energy economy across the world.
The Swedish Ministry of Enterprise, Energy and Communications hosted the
awards ceremony in Zurich, Switzerland. International dignitaries, including
the Ambassador for India to Switzerland and the Honorary Consul of Australia,
presented the awards at a ceremony on Tuesday, 7th of October 2014.
"Improving the energy efficiency of electric motors is critical for
the continued development of India's economy," said the Ambassador for
India in Switzerland, His Excellency Mr. M.K. Lokesh, who presented the two
awards to Siemens Limited. "The SEAD Awards help the market recognize the
most efficient products currently available and encourage the development of
new technologies."
Siemens’ 1LA2 series of Low Voltage IE3 induction motors manufactured in
India won in the IEC Induction Motor category for the India region as the most
efficient motors thereby providing the fastest return on investments to the
users. The SEAD Global Efficiency Medal helps in identifying the world’s most
efficient products and enhances buyers' ability to differentiate and choose
among products on the basis of their energy efficiency.
Bhaskar Mandal, Country Division Lead, Process Industries and Drives,
Siemens India, said, “Every Unit of power saved in India is an investment towards
sustaining its manufacturing competitiveness and economic growth. Siemens is at
the forefront in developing and introducing highly energy-efficient motors for
the Indian market and is also propagating its adoption among end users through
education. The ‘SEAD Global Efficiency Medal for Motors’ is of great value not
just to us but to our customers as well, who strongly believe in the cause of
energy conservation. This recognition is also an endorsement of our investments
in local Research & Development backed by world class testing facilities in
India.”
The induction motor is by far the most important type of electric motor
found today, and has become the focus of regulators around the world.
Medium-sized motors are of particular concern because they consume a lot of
energy. According to a 2011 International Energy Agency study, mid-sized motors
ranging in size from 0.75 kW (1 hp) to 375 kW (500 hp) accounted for more than
two-thirds of the electricity consumed by all motors worldwide in 2010.They consumed
4,800 terawatt-hours of electricity, more than the combined electricity
consumption of Australia, India and the United States. That is why even small
improvements in efficiency of electric motor can have a huge impact on the
economy and environment.
While historically SEAD has been awarding ‘Global Efficiency’ medals to
various categories such as televisions, lightings etc., it introduced the
category of ‘Motors’ – IEC Induction Motors, NEMA Induction Motors, New
Technology motors less than 75 Kw and New Technology motors less than 100 Kw HP
– only in 2014.
SIEMENS INSTALLS INDIA’S FIRST ULTRASOUND SYSTEM
WITH WIRELESS TRANSDUCERS AT K.G. HOSPITAL, COIMBATORE
Coimbatore,
2014-Aug-06
Siemens is the only company providing an ultrasound system with wireless
transducers in the world. K.G. Hospital now has access to advanced ultrasound
technology, vital for clinical fields requiring a sterile environment. The
hospital can operate the transducers up to three meters away from the system.
Siemens Healthcare successfully installed India’s first ultrasound
system with wireless transducers at K.G. Hospital. The installation provides a
significant boost to availability of latest technology and healthcare
innovation.
In operating theatres or interventional environment, transducer cables
have always been a cumbersome necessity in ultrasound imaging. Not only are
they an impediment to fast and ergonomic examination procedures, but they also
present an infection control risk in sterile interventional settings, even when
they are covered in sterile sheaths. Acuson Freestyle is the solution to these
problems – it eliminates the cables and also helps the user to operate the
transducers up to three meters away from the system without compromising the
sterile field,
providing a more ergonomic environment for physicians.
“Siemens is a pioneer in ultrasound imaging and the wireless ultrasound
system is a result of our continued contribution towards innovation. In Acuson
Freestyle, removal of cables has made a significant difference enabling an
ergonomic environment for physicians in operating theatres or interventional
environment, further helping them to make better treatment decisions,”
mentioned Mr. Kailash Yagnik, Head - Clinical Products Division, Siemens
Healthcare, India.
Dr. G. Bakthvathsalam, Chairman, K.G. Hospital (a 350-bedded NABH
accredited), comments “At K.G. Hospital we aim to provide world-class imaging
service at affordable rates. This will enable a vast majority of our population
to receive the benefits of international standard diagnostic services and we
are convinced that the Siemens Acuson Freestyle solution will help us achieve
this objective.”
Three wireless transducers are available for the Acuson Freestyle
system, covering a range of general imaging, vascular and high-frequency
applications such as musculoskeletal and nerve imaging. The user can operate
the transducers up to three meters away from the system, which includes an
ergonomic interface that enables remote control of scanning parameters from
within the sterile field. The Acuson Freestyle system has a 38-centimeter,
high-resolution LED display. The system console can be mounted easily on a
lightweight cart. It operates on very high frequency and very low power so it
won’t interfere with other equipment. One of the benefits of low power is that
the battery life is high as the consumption is relatively low. The system can
be operated for 90 minutes with one battery. All the batteries are rechargeable
and interchangeable; it has an alternate battery if the current one gets
depleted.
Wireless transducers can also expand ultrasound into new and emerging
applications, such as administering nerve blocks, enhancing vascular access,
and improving target localization through ultrasound guidance during
therapeutic interventions and biopsies.
SIEMENS SOLUTIONS TO BOOST RELIABILITY, STABILITY
OF INDIA’S ELECTRIC GRID
Mumbai,
2014-Jul-30
Order worth Rs.4110.000 Million for supply of Static Var Compensators at
three substation locations.
Siemens Limited announced that it has won a crucial turnkey order
(design, engineering, commissioning and installation) from Power Grid
Corporation of India Limited (PGCIL) worth approximately Rs.4110.000 Million.
The order is for Static Var Compensators (SVCs) for three of PGCIL’s
substations: Ludhiana in Punjab, Kankroli in Rajasthan and New Wangpoh in Jammu
& Kashmir.
An SVC is a high-voltage system that dynamically controls the network
voltage and keeps the network voltage constant. The order is for one of a
series of SVC projects planned by PGCIL to improve grid stability across India.
“The delivery of stable, reliable power supply to meet the increasing
demands from industry and urban centers is crucial for India’s sustainable
progress. It is a matter of immense pride for Siemens that we have been chosen
by Power Grid Corporation to be an integral part of this project,” said Sunil
Mathur, Managing Director and Chief Executive Officer, Siemens Limited.
SIEMENS MAY CLOSE SOME ENERGY PLANTS AMID LOW MARGINS
Oct 4 (Reuters) - German industrial conglomerate Siemens expects low
profit margins at its energy division in the next couple of years and could
close some factories as a result, the head of the division told the
Boersen-Zeitung newspaper.
Lisa Davis said the company was reviewing individual sites and it was
unclear whether some would be closed or whether they would be used for
different products.
"We will see low margins (in the Power and Gas unit) in the next
two to three years," she was quoted as saying.
The newly-created Siemens Power and Gas division makes products ranging
from gas turbines and compressors to oilfield equipment. Siemens strengthened
it this year with the acquisitions of U.S.-based Dresser Rand as well as Rolls
Royce's power unit.
The takeovers will help Siemens adjust to a change in energy markets, where small,
decentralised units are on the rise to the detriment of large power plants,
Davis told the paper.
"By 2030 about a third of our electricity will come from local
systems," she was quoted as saying.
When announcing the Dresser Rand deal last month, Siemens Chief
Executive Joe Kaeser said he expected demand for products such as gas turbines
to rebound from 2016, adding the synergies from the deal justified the purchase
price.
Siemens expects more than 150 million euros in annual synergies by 2019
from the Dresser Rand transaction, which complements its business in turbo
compressors, downstream and industrial applications as well as larger steam
turbines.
Davis indicated the group may not have to wait that long.
"We have calculated the synergies rather conservatively. It is well
possible that we will see positive surprises," she told the paper.
(Reporting by Arno Schuetze; Editing by Mark Potter)
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 records 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. 63.61 |
|
|
1 |
Rs. 97.27 |
|
Euro |
1 |
Rs. 69.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
78 |
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.