MIRA INFORM REPORT

Report No. :	329523
Report Date :	29.06.2015

IDENTIFICATION DETAILS

Name :	VIDEOCON INDUSTRIES LIMITED (w.e.f. 10.11.2003)
Formerly Known As :	VIDEOCON LEASING AND INDUSTRIAL FINANCE PRIVATE LIMITED (w.e.f. 14.02.1991) ADHIGAM TRADING PRIVATE LIMITED
Registered Office :	14, K M Stone, Aurangabad – Paithan Road, Village Chittegaon, Taluka Paithan, Aurangabad – 431105, Maharashtra
Tel No.:	91-2431-251501/ 02/ 03/ 04
Country :	India
Financials (as on) :	31.12.2014
Date of Incorporation :	04.09.1986
Com. Reg. No.:	11-103624
Capital Investment/ Paid-up Capital:	Rs.3344.590 Million
CIN No.: [Company Identification No.]	L99999MH1986PLC103624
TAN No.: [Tax Deduction & Collection Account No.]	MUMV09411D NSKV01616G
PAN No.: [Permanent Account No.]	AABCV4012H
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchange.
Line of Business :	Manufacturer, Assembles, and Distributes of Consumer Electronics and Home Appliances, Crude Oil and Natural Gas, Telecommunications, and Power segments.
No. of Employees:	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (56)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 296000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is an established company having good track record. The company has achieved a minimal profit during December 2014 however, networth of the company is decent. Rating also takes into consideration the companies leading market position in domestic consumer electronics and home appliances segment. Trade relations are reported to be fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing at usual trade terms and conditions. Note: Financial are of 18 months ranging from 1^st July 2013 – 31 December 2014.

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	CARE
Rating	Long Term Fund Based Bank Facilities (A)
Rating Explanation	Adequate degree of safety and carry low credit risk.
Date	15.04.2015

Rating Agency Name	CARE
Rating	Short term fund based bank facilities = A1
Rating Explanation	Very strong degree of safety and carry very lowest credit risk.
Date	15.04.2015

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 31-03-2014.

INFORMATION DECLINED

MANAGEMENT NON CO-OPERATIVE (Tel. No.: 91-2431-251501)

LOCATIONS

Registered Office/Factory :	14, K M Stone, Aurangabad – Paithan Road, Village Chittegaon, Taluka Paithan, Aurangabad – 431105, Maharashtra, India
Tel. No.:	91-2431-251501/ 02/ 03/ 04
Fax No.:	91-2431-240391/ 251551
E-Mail :	secretarial1@gmail.com secretarial@videoconmail.com For General Inquiries : contact@videoconmail.com For Services : customercare@vgmail.in For Career : jobs@videocornmail.com For Marketing : marketing@vgmail.in
Website :	www.videoconworld.com
Corporate Office :	Fort House, 2^nd Floor, 221, Dr. D.N. Road, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-214-3273091
Factory 2 :	Village: Chavaj, Via Society Area, Taluka and District: Bharuch – 392002, Gujarat, India
Factory 3 :	Vigyan Nagar, Industrial Area, Opposite RIICO Office Shahjahanpur, District Alwar - 301 706, Rajasthan, India
Plant :	Videocon Narmada Glass Division, Videocon House, Village Chavaj, Disrict Bharuch - 392002, Gujarat, India
Marketing Office :	296, Udyog Vihar, Phase – II, Gurgaon, Haryana, India
Tel. No.:	91-124-4215402

DIRECTORS

AS ON 31.12.2014

Name :	Mr. Venugopal Nandlal Dhoot
Designation :	Chairman cum Managing Director
Address :	90, Manav Mandir, Napean Sea Road, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	30.09.1951
Qualification :	B.E. (Electrical), FIE
Date of Appointment :	01.06.2005
Name :	Maj. Gen. Sudhir Chintamani Nilkanth Jatar
Designation :	Independent Director
Name :	Mr. Radhey Shyam Agarwal
Designation :	Independent Director
Address :	A-102, Chaitanya Tower, Near Karur Vysya Bank, Prabhadevi, Mumbai – 400025, Maharashtra, India
Date of Birth :	02.10.1942
Date of Appointment :	30.03.2009
DIN No.:	00012594
Name :	Mr. Anil G. Joshi
Designation :	Independent Director
Date of Birth :	17.12.1943
Qualification :	· M.Sc. Physics/ Electronics · P.G. Diploma – Business Management · C.A.I.I.B (Part I)
Date of Appointment :	29.06.2011
DIN No.:	00019927

Name :	Subroto Gupta
Designation :	Nominee-IDBI Bank Limited / Nominee director
Date of Appointment :	14.11.2014
DIN No.:	02356707
Name :	Ramabai V. Dhoot
Designation :	Promoter, Non Executive Director / Additional director
Date of Appointment :	28.02.2015
DIN No.:	02377583

KEY EXECUTIVES

Name :	Mr. Vinod Kumar Bohra
Designation :	Company Secretary
Address :	204, Videocon House, Gangapur Gin Compound, Station Road, Ahmednagar – 414001, Maharashtra, India
Date of Birth :	20.05.1974
Date of Appointment :	20.03.2006
PAN No.:	AAMPB5639E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2015

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	564233	0.19
Bodies Corporate	218824181	74.62
Sub Total	219388414	74.81
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	219388414	74.81
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	42912	0.01
Financial Institutions / Banks	8811813	3.00
Insurance Companies	18176140	6.20
Foreign Institutional Investors	10156870	3.46
Sub Total	37187735	12.68
(2) Non-Institutions
Bodies Corporate	22995942	7.84
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	9889691	3.37
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	3585830	1.22
Any Others (Specify)	210037	0.07
Non Resident Indians	207448	0.07
Trust/Co Op Society / Foundation	2589	0.00
Sub Total	36681500	12.51
Total Public shareholding (B)	73869235	25.19
Total (A)+(B)	293257649	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	41201226	0.00
Sub Total	41201226	0.00
Total (A)+(B)+(C)	334458875	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Assembles, and Distributes of Consumer Electronics and Home Appliances, Crude Oil and Natural Gas, Telecommunications, and Power segments.

Products :

ITC Code	Product Description
2709.00	Crude Oil and Natural Gas
8528.72	Colour Television
7011.20	Glass Shell Panels and Funnels for C P T

Brand Names :

Not Available

Agencies Held :

Not Available

Export :

Not Available

Import :

Not Available

Terms :

Not Available

GENERAL INFORMATION

Supplier :

Not Available

Customer :

Not Available

No. of Employees :

Not Divulged

Bankers :

• Allahabad Bank
• Punjab National Bank
• Andhra Bank
• State Bank of Bikaner & Jaipur
• Bank of Baroda
• State Bank of Hyderabad
• Bank of India
• State Bank of India
• Bank of Maharashtra
• State Bank of Mysore
• Canara Bank
• State Bank of Patiala
• Central Bank of India
• State Bank of Travancore
• Corporation Bank
• Syndicate Bank
• Dena Bank
• The Federal Bank Limited
• ICICI Bank Limited
• UCO Bank
• IDBI Bank Limited
• Union Bank of India
• Indian Bank
• United Bank of India
• Indian Overseas Bank
• Vijaya Bank
• Oriental Bank of Commerce

Facilities :

SECURED LOAN	31.12.2014 (18 Months)	30.06.2013 (18 Months)
Long Term Borrowings	Rs. In Million
Non-Convertible Debentures
Term Loans
Rupee Loans from Banks	171421.58	140291.04
Rupee Loans from Financial Institutions	8706.31	9338.05
External Commercial Borrowings	0.000	0.000
Vehicle Loans from Banks	51.32	151.790
Short-Term Borrowings
Loan from Bank	10400.00	20500.00
Working Capital Loans from Banks	10913.12	15476.39
Total	201492.330	185757.270

Note :

Long term borrowing

Secured Loans:

a) Rupee Term Loans from Banks and Financial Institutions:

i) The Company along with 12 other affiliates/entities (collectively referred to as ‘Obligors’ and individually referred to as ‘Borrower’) executed facility agreement with consortium of existing domestic rupee term lenders, in the obligor/coobligor

structure, wherein all the Rupee Term Loans of the Obligors are pooled together. The Borrower entities covered are Videocon Industries Limited (VIL), Value Industries Limited, Trend Electronics Limited, KAIL Limited, Millennium Appliances India Limited, Applicomp (India) Limited, Sky Appliances Limited, Techno Electronics Limited, Century Appliances Limited, PE Electronics Limited, Techno Kart India Limited (formerly Next Retail India Limited), Evans Fraser and Co. (India) Limited and Videocon International Electronics Limited. Loans amounting to Rs. 167,393.20 Million (As at 30th June, 2013 Rs. 144,178.53 Million) are secured by first pari-passu charge on all present and future tangible/intangible assets (excluding the Identified Properties) of each of the Borrower, first pari-passu charge on the Trust and Retention Accounts of the Borrowers, second pari-passu charge on Identified Assets of Videocon Hydrocarbon Holdings Limited’s (VHHL) subsidiaries through pledge of entire shareholding of VHHL in these overseas subsidiaries, second charge on pledge of 100% shares of Videocon Oil Ventures Limited and VHHL, second pari-passu charge on VHHL’s share of cash flows from Identified Assets and second pari-passu charge over current assets of each of the Borrowers. The Rupee Term Loans are also secured by first ranking pledge over specified numbers of equity

shares of Videocon Industries Limited, Trend Electronics Limited and Value Industries Limited held by the Promoters, the personal guarantee of Mr. Venugopal N. Dhoot, Mr. Pradipkumar N. Dhoot, Mr. Rajkumar N. Dhoot and first pari-passu charge on ‘Videocon’ brand

ii) Loans amounting to Rs. 150.00 Million (As at 30th June, 2013 Rs. 1,200.00 Million) is secured by first pari-passu charge over the fixed assets situated at Bharuch and Aurangabad, both present and future.

iii) Loans amounting to Rs. 512.40 Million (As at 30th June, 2013 Rs. 581.03 Million) is secured by mortgage of immovable assets and first charge on movable assets, cash flows and intangible assets pertaining to the 5.75 MW Multi Crystalline Silicon Photovoltaic Technology Project at Warora.

iv) Loans amounting to Rs. 10,750.00 Million (As at 30th June, 2013 Rs. Nil) are secured by first pari-passu charge on book debts of consumer electronics and home appliances division which are not charged to bankers for securing working capital loans and first pari-passu charge on equitable mortgage of specified properties owned by the Company and owned by other 6 entities. The loans are further secured by personal guarantee of Mr. Venugopal N. Dhoot and Mr. Pradipkumar N. Dhoot and corporate guarantee of the entities whose properties have been mortgaged.

v) Loans amounting to Rs. 2,250.00 Million (As at 30th June, 2013 Rs. Nil) is secured by subservient charge on current assets of the Company, pledge of equity shares of Videocon Industries Limited held by other entities and personal guarantee of Mr. Venugopal N. Dhoot.

vi) Loans amounting to Rs. 2,500.00 Million (As at 30th June, 2013 Rs. Nil) is secured by subservient charge on current assets of the Company, extension of pledge of equity shares of Videocon Industries Limited mentioned in note no.

(v) Above and pledge of equity shares of Videocon d2h Limited held by other entities, mortgage of properties owned by other entities and personal guarantee of Mr. Venugopal N. Dhoot.

b) Vehicle Loan from Banks are secured by way of hypothecation of Vehicles acquired out of the said loan. The loans are also secured by personal guarantee of Mr. Venugopal N. Dhoot.

Maturity Profile:

Particulars	Rupee Term Loans from Banks	Rupee Term Loans from Financial Institutions	Vehicle Loan from Banks
Maturity between 1st January to 31st December of:
Financial Year 2016	6,207.850	202.880	46.570
Financial Year 2017	7,463.130	269.690	3.240
Financial Year 2018	17,345.660	591.490	1.200
Financial Year 2019	39,617.190	1,548.500	0.210
Financial Year 2020	40,695.010	2,186.000	0.100
Financial Year 2021	40,695.010	2,186.000	-
Financial Year 2022	19,267.730	1,676.000	-
Financial Year 2023	130.000	45.750	-

Short-Term Borrowings

Secured Loans

a) Short Term Loans from Banks

i) Loans amounting to Rs. 1,900.00 Million (As at 30th June, 2013 Rs. Nil) is secured by mortgage of specified property owned by the Company, negative lien on property owned by other entities and personal guarantee of Mr. Venugopal N. Dhoot and Mr. Pradipkumar N. Dhoot.

ii) Loans amounting to Rs. 1,500.00 Million (As at 30th June, 2013 Rs. Nil) are secured by first pari-passu charge on book debts of consumer electronics and home appliances division which are not charged to bankers for securing working capital loans. The loan is further secured by personal guarantee of Mr. Venugopal N. Dhoot, Mr. Pradipkumar N. Dhoot and Mr. Rajkumar N. Dhoot.

iii) Loans amounting to Rs. 6,000.00 Million (As at 30th June, 2013 Rs. Nil) is secured against fixed deposits held by the Company.

iv) Loans amounting to Rs. 1,000.00 Million (As at 30th June, 2013 Rs. Nil) is secured by subservient charge on current assets of the Company, pledge of equity shares of Videocon d2h Limited held by other entities, mortgage of specified properties owned by other entities, assignment of receivables from these properties and personal guarantee of Mr. Venugopal N. Dhoot.

b) Working Capital Loans from Banks are secured by hypothecation of the Company’s stock of raw materials, packing materials, stock-in-process, finished goods, stores and spares, book debts of Glass Shell Division and personal guarantee of Mr. Venugopal N. Dhoot, Mr. Pradipkumar N. Dhoot and Mr. Rajkumar N. Dhoot.

Auditors :
Name :	Khandelwal Jain and Company Chartered Accountants
Address :	12-B, Baldota Bhavan, 117, Maharshi Karve Road, Opposite Churchgate Railway Station, Mumbai - 400020, Maharashtra, India
Name :	Kadam and Company Chartered Accountants
Address :	“Vedant”, 8/9, Viraj Estate, Opposite Tarakpur Bus Stand Ahmednagar - 414003, Maharashtra, India
Tel. No.:	91-241-2322120/ 30/ 40/ 2358964
E-mail :	uk@kadamandco.com
Subsidiaries :	a) Chhattisgarh Power Ventures Private Limited b) Liberty Videocon General Insurance Company Limited c) Middle East Appliances LLC d) Pipavav Energy Private Limited e) Prosperous Energy Private Limited f) Videocon Electronics (Shenzhen) Limited (Chinese Name - Weiyoukang Electronic (Shenzhen) Company Limited) g) Videocon Global Limited h) Videocon Oil Ventures Limited and its subsidiaries Videocon Estelle Limited (up to 26th March, 2014) Videocon Ivory Limited (up to 15th February, 2014) - Videocon Hydrocarbon Holdings Limited andits subsidiaries Videocon JPDA 06-103 Limited Videocon Indonesia Nunukan Inc. Videocon Energy Brazil Limited Videocon Australia WA-388-P Limited -Videocon Mauritius Energy Limited and its subsidiary Videocon Mozambique Rovuma 1 Limited (upto 7th January, 2014) i) Videocon International Electronics Limited and its subsidiaries Jumbo Techno Services Private Limited Senior Consulting Private Limited -Videocon Telecommunications Limited and its subsidiary Datacom Telecommunications Private Limited j) Videocon Energy Limited and its subsidiary - Proficient Energy Private Limited and its subsidiary - Applied Energy Private Limited and its subsidiaries Unity Power Private Limited (up to 15th May, 2014) - Comet Power Private Limited and its subsidiaries Indigo Energy Private Limited Percept Energy Private Limited
Associates and Joint Ventures:	a) Radium Energy Private Limited - Associate - 26% b) Unity Power Private Limited - Associate - 26% (Associate of Applied Energy Private Limited w.e.f. 16th May, 2014) c) Videocon Infinity Infrastructure Private Limited - Joint Venture - 50% d) IBV Brasil Petroleo Limitada - (50% Joint Venture of Videocon Energy Brazil Limited)

CAPITAL STRUCTURE

AS ON 31.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000,000	Equity Share	Rs.10/- each	Rs.5000.000 Million
10,000,000	Redeemable Preference shares	Rs.100/-each	Rs.1000.000 Million
	Total		Rs.6000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
334,458,875	Equity Share	Rs.10/- each	Rs. 3344.590 Million
	Less: Call In Arrears		--
Nil	Redeemable Preference shares		--
Nil	8% Cumulative Redeemable Preference shares		--
	Total		Rs. 3344.590 Million

Reconciliation of the Number of Shares:

Particulars	As at 31.12.2014
	No. of Shares	Rs. In Million
a) Equity Shares of Rs.10/- each
Outstanding at the beginning of the period	318,771,669	3,187.72
Issued during the period*	15,700,000	157.00
Less: Forfeited during the period	12,794	0.13
Outstanding at the end of the period	334,458,875	3,344.59
b) 8% Cumulative Redeemable Preference Shares of Rs. Nil (As at 30th June, 2013 Rs. 33.32 each)
Outstanding at the beginning of the period	4,523,990	150.74
Redeemed during the period	4,523,990	150.74
Outstanding at the end of the period	-	-
c) 8% Cumulative Redeemable Preference Shares of Rs. Nil (As at 30th June, 2013 Rs. 33.34 each)
Outstanding at the beginning of the period	76,870	2.56
Redeemed during the period	76,870	2.56
Outstanding at the end of the period	-	-

* The Company has allotted 15,700,000 underlying equity shares represented by the issue of 15,700,000 Global Depository

Receipts (GDR) at a price of US$ 2.88 per GDR, equivalent to Rs. 181.61 per equity share (including share premium of Rs. 171.61 per equity share) aggregating to Rs. 2,851.27 Million.

Rights, Preference and Restrictions:

a) The Company has only one class of equity shares having par value of Rs. 10/- per share. Each holder of equity shares is entitled to equal right of voting and dividend.

b) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

c) The preference shares do not have voting rights. They have preference over equity shareholder as to dividend and in case of liquidation.

Details of Shareholders holding more than 5% Shares:

Particulars	As at 31.12.2014
	No. of Shares	% of Holding
a) Equity Shares of Rs.10/- each
Dome-Bell Electronics India Private Limited	19,741,049	5.90
Shree Dhoot Trading and Agencies Limited	26,604,836	7.95
Synergy Appliance Private Limited	16,010,575	4.79
Videocon Realty and Infrastructures Limited	63,570,518	19.01
Deutsche Bank Trust Company Americas (As depository of Global Deposits Receipts)	41,201,226	12.32
b) 8% Cumulative Redeemable Preference Shares of Rs. Nil (As at 30th June, 2013 Rs. 33.32 each)
LIC of India Limited	-	-
IDBI Bank Limited	-	-
c) 8% Cumulative Redeemable Preference Shares of Rs. Nil (As at 30th June, 2013 Rs. 33.34 each)
General Insurance Corporation of India	-	-

FINANCIAL DATA

[all figures are in Rupees Million ]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2014 (18 Months)	30.06.2013 (18 Months)	31.12.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3344.590	3340.940	3339.360
(b) Reserves & Surplus	100280.910	97839.040	96190.400
(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)	103625.500	101179.980	99529.760
(3) Non-Current Liabilities
(a) long-term borrowings	180258.370	161449.860	60816.220
(b) Deferred tax liabilities (Net)	7092.510	7076.960	7351.210
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1971.060	1473.890	1274.620
Total Non-current Liabilities (3)	189321.940	170000.710	69442.050
(4) Current Liabilities
(a) Short term borrowings	46440.440	57527.270	77567.710
(b) Trade payables	11524.700	11412.840	11726.550
(c) Other current liabilities	29785.600	28223.930	60418.000
(d) Short-term provisions	963.150	946.850	873.920
Total Current Liabilities (4)	88713.890	98110.890	150586.180
TOTAL	381661.330	369291.580	319557.990
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	58778.750	58825.010	55030.450
(ii) Intangible Assets	547.600	458.160	820.110
(iii) Capital work-in-progress	7292.920	6674.550	7165.070
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	56208.880	49327.790	47228.990
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	79170.730	74741.530	55088.180
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	201998.880	190027.040	165332.800
(2) Current assets
(a) Current investments	60.390	41.630	208.110
(b) Inventories	24040.990	21578.970	20807.090
(c) Trade receivables	28627.620	28327.000	27504.420
(d) Cash and cash equivalents	24496.960	4858.260	5045.460
(e) Short-term loans and advances	101252.440	123663.130	99761.490
(f) Other current assets	1184.050	795.550	898.620
Total Current Assets	179662.450	179264.540	154225.190
TOTAL	381661.330	369291.580	319557.990

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2014 (18 Months)	30.06.2013 (18 Months)	31.12.2011
	SALES
		Income	189676.030	181572.750	126502.220
		Other Income	11651.420	4182.660	1063.120
		TOTAL (A)	201327.450	185755.410	127565.340
Less	EXPENSES
		Cost of Materials Consumed	60550.050	56643.700	40562.960
		Purchase of Stock in-Trade	59621.350	59133.820	38501.830
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1035.790)	(577.320)	(140.410)
		Production and Exploration Expenses –Oil and Gas	13381.980	12668.340	9007.760
		Employees benefits expense	4361.740	3979.940	2253.460
		Other expenses	19355.100	19660.410	13792.490
		TOTAL (B)	156234.430	151508.890	103978.090
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		45093.020	34246.520	23587.250
Less	FINANCIAL EXPENSES (D)		35188.960	27148.180	9777.890
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9904.060	7098.340	13809.360
Less/ Add	DEPRECIATION/ AMORTISATION (F)		9858.110	8243.500	6075.640
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		45.950	(1145.160)	7733.720
Less	TAX (H)		15.550	(428.840)	2334.610
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		30.400	(716.320)	5399.110
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports		6955.650	6428.150	3838.470
	Others (including reimbursement of Expenses)		24073.500	4132.450	2.060
	TOTAL EARNINGS		31029.150	10560.600	3840.530
	IMPORTS
	Raw Materials		30875.550	23884.270	14026.740
	Capital Goods (including advances)		225.980	213.560	709.660
	TOTAL IMPORTS		31101.530	24097.830	14736.400
	Earnings Per Share (Rs.)		0.08	(2.38)	17.73

CURRENT MATURITIES OF LONG TERM BORROWINGS DETAILS

Particulars	31.12.2014 (18 Months)	30.06.2013 (18 Months)	31.12.2011
Current Maturities of Long term Borrowings	16014.800	10892.340	48176.280
Cash generated from/(used in) Operations	55206.850	(6813.910)	(50263.450)

KEY RATIOS

PARTICULARS		31.12.2014 (18 Months)	30.06.2013 (18 Months)	31.12.2011
Net Profit Margin (PAT / Sales)	(%)	0.02	(0.39)	4.27
Operating Profit Margin (PBIDT/Sales)	(%)	23.77	18.86	18.65
Return on Total Assets (PBT/Total Assets}	(%)	0.01	(0.37)	2.92
Return on Investment (ROI) (PBT/Networth)		0.00	(0.01)	0.08
Debt Equity Ratio (Total Debt/Networth)		2.34	2.27	1.87
Current Ratio (Current Asset/Current Liability)		2.03	1.83	1.02

STOCK PRICES

Face Value	Rs.10.00/-
Market Value	Rs.150.00/-

FINANCIAL ANALYSIS

[all figures are in Rupees Million ]

DEBT EQUITY RATIO

Particular	31.12.2011	30.06.2013 (18 Months)	31.12.2014 (18 Months)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	3339.360	3340.940	3344.590
Reserves & Surplus	96190.400	97839.040	100280.910
Share Application money pending allotment	0.000	0.000	0.000
Net worth	99529.760	101179.980	103625.500
long-term borrowings	60816.220	161449.860	180258.370
Short term borrowings	77567.710	57527.270	46440.440
Current Maturities of Long Term Debt	48176.280	10892.340	16014.800
Total borrowings	186560.210	229869.470	242713.610
Debt/Equity ratio	1.874	2.272	2.342

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.12.2011	30.06.2013 (18 Months)	31.12.2014 (18 Months)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	126502.220	181572.750	189676.030
		43.533	4.463

NET PROFIT MARGIN

Net Profit Margin	31.12.2011	30.06.2013 (18 Months)	31.12.2014 (18 Months)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	126502.220	181572.750	189043.500
Profit/Loss	5399.110	(716.320)	30.400
	4.27%	(0.39%)	0.02%

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	No
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	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS
Bench:- Bombay
Presentation Date : 12.06.2015
Lodging No:-	ITXAL/ 785/2015	Failing Date:-	12.06.2015
Petitioner:-	PR. COMMISSIONER OF INCOME TAX - 3		Respondent:-	VIDEOCON INDUSTRIES LIMITED
Pet. Adv.	SURESH KUMAR (I2100)
District:-	MUMBAI
Bench:-	DIVISION		Category:-	TAX APPEALS
Status:-	Pre-Admission		Stage:-	-
Last Date:-	19.06.2015
Last Coram:-	REGISTRAR (OS) PROTHONOTARY AND SR. MASTER
Act:-	INCOME TAX ACT, 1961
Under Section:	260A

UNSECURED LOAN

PARTICULAR

31.12.2014

(18 Months)

30.06.2013

(18 Months)

(Rs. In Million)

Long Term Borrowings

Rupee Loan from Bank

75.000

0.000

Foreign Currency Convertible Bonds

0.000

11652.340

Sales Tax Deferral

4.160

16.640

Short-Term Borrowings

Loan form Banks

10499.930

7620.830

Loan form Others

14627.390

13930.050

Total

25206.480

33219.860

NOTE :

Long Term Borrowings

Unsecured Loans:

a) The Company had issued 2,000 Foreign Currency Convertible Bonds of US$ 100,000 each (Bonds) during the year 2010, due on 16th December, 2015, out of which 1,944 (As at 30th June, 2013 - 1,944) Bonds are outstanding.

i) The Bonds are convertible at the option of the bondholders at any time on or after 25th January, 2011 to 7 days before maturity date i.e. 16th December, 2015, at a fixed exchange rate of Rs. 45.255 per 1 US$ and at initial conversion price of Rs. 239.5265 per share being at premium of 3% over reference share price. The conversion price will be subject to adjustment for, among other things, subdivision or consolidation of shares, rights issues, capital distributions, stock dividends and other dilutive events.

ii) The Bonds are redeemable in whole but not in part at the option of the Company on or after 15th December, 2013, if the closing price of shares for each of the 30 consecutive trading days prior to the date on which notice of such redemption is given was at least 130% of the conversion price.

iii) The Bonds are redeemable at maturity date i.e. on 16th December, 2015 at its principal amount, if not redeemed or converted earlier.

b) The Company has availed interest free Sales Tax Deferral under Special Incentive to Prestigious Unit (Modified) Scheme. Out of total outstanding, Rs. 12.48 Million is repayable in the financial year 2015 and balance amount of Rs. 4.16 Million is repayable in the financial year 2016.

Maturity Profile

Particulars	Rupee Term Loans from Banks
Maturity between 1st January to 31st December of:
Financial Year 2016	75.000
Financial Year 2017	-
Financial Year 2018	-
Financial Year 2019	-
Financial Year 2020	-
Financial Year 2021	-
Financial Year 2022	-
Financial Year 2023	-

Short-Term Borrowings

Unsecured Loans

i) Unsecured Loans from Banks amounting to Rs. 9,250.00 Million (As at 30th June, 2013 Rs. Nil) is secured by exclusive charge over the land situated at Dist. Rewa, Madhya Pradesh owned by other entities, stake in PT. Gaung Alam Semesta’s coal concession in Indonesia owned by other entities and personal guarantee of Mr. Venugopal N. Dhoot and Mr. Pradipkumar N. Dhoot.

ii) Unsecured Loans from Banks amounting to Rs. 1,249.93 Million (As at 30th June, 2013 Rs. Nil) is secured by equitable mortgage of property owned by other entities and personal guarantee of Mr. Venugopal N. Dhoot, Mr. Rajkumar N. Dhoot and Mr. Pradipkumar N. Dhoot.

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10555684	20/03/2015	13,500,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	C47030655
2	10551807	25/02/2015	2,000,000,000.00	INDIAN OVERSEAS BANK	NARIMAN POINT BARNCHA, BHAKTAWAR, NARIMAN POINT,  MUMBAI - 400021, MAHARASHTRA, INDIA	C44951093
3	10544676	30/12/2014	2,000,000,000.00	IFCI LIMITED	IFCI TOWER61 NEHRU PLACE, NEW DELHI - 110019, DELHI, INDIA	C41265174
4	10541020	24/12/2014	2,500,000,000.00	PUNJAB NATIONAL BANK	LARGE CORPORATE BRANCH, MAKER TOWER "E", GROUND FLOOR, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA,  INDIA	C39392782
5	10533505	15/11/2014	2,000,000,000.00	IDBI BANK LIMITED	224 A, A WING, 2ND FLOOR, MITTAL COURT, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	C35139070
6	10529835	22/10/2014	4,500,000,000.00	BANK OF MAHARASHTRA	INDUSTRIAL FINANCE BRANCH, APEEJAY HOUSE, 130, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	C32740300
7	10559338	30/09/2014	2,500,000,000.00	YES BANK LIMITED	NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA,, DR.  A. B. ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA,  INDIA	C49194020
8	10559343	30/09/2014	1,000,000,000.00	YES BANK LIMITED	NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR.  A. B. ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA,  INDIA	C49194434
9	10522567	29/09/2014	1,500,000,000.00	ORIENTAL BANK OF COMMERCE	LARGE CORPORATE BRANCH, MAKER TOWER F 14 TH FLOOR,  CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA	C23124159
10	10517271	08/08/2014	3,000,000,000.00	BANK OF INDIA	SUSHILP, 1290, SHIVAJINAGAR, OPPOSITE HOTEL SWAN INN,  OFF JANGLI MAHARAJ ROAD, PUNE - 411005, MAHARASHTRA, INDIA	C18690743

* Date of charge modification

CONTINGENT LIABILITY:

Particular	31.12.2014 (18 Months)	30.06.2013 (18 Months)
a)Letters of Guarantees	43,086.10	39317.010
b)Letters of Credit opened (including Standby Letters of Credit and Letter of Comfort)	82,394.06	61216.920
d)Customs Duty demands under dispute [Amount paid under protest ` 0.07 Million (As at 30th June, 2013 ` 3.41 Million)]	282.77	502.460
e)Income Tax demands under dispute	217.63	3149.410
f)Excise Duty and Service Tax demand under dispute [Amount paid under protest ` 31.53 Million (As at 30th June, 2013 ` 30.86 Million)]	1,230.79	1034.950
g)Sales Tax demands under dispute [Amount paid under protest ` 70.93 Million (As at 30th June, 2013 ` 377.09 Million)]	1,135.24	1131.510
h)Others [Amount paid under protest ` 50.00 Million (As at 30th June, 2013 ` 50.00 Million)]	2,166.72	2153.300

PERFORMANCE REVIEW

The financial year of the Company was extended by a period of six months. Accordingly, the financial year comprises of a period of eighteen months commencing from 1st July, 2013 to 31st December, 2014.

OPERATIONS

CONSUMER ELECTRONICS AND HOME APPLIANCES

The period brought delight to Consumer Electronics and Home Appliances Industry which saw signs of recovery after a very rough patch. Despite challenges in both internal and external environment, Consumer Electronics and Home Appliances Industry has shown growth in technically innovative products. Cashing on correct anticipation of consumer needs and innovative R & D and marketing, the Company was able to deliver a stable performance.

OIL AND GAS

The Company continues to remain actively involved in Exploration and Production activities. The Company is exploring more and more opportunities in Oil and Gas sector. During the year, Videocon Mauritius Energy Limited has sold its 100% stake in Videocon Mozambique Rovuma 1 Limited (“VMRL”) for a consideration of US$ 2,475.00 Million. VMRL held 10% participating in the offshore Area 1 in Rovuma Basin in Mozambique (the “Offshore Area 1”), which has series of sizable natural gas discoveries.

During the period, the Company has announced various discoveries and explorations made by its wholly owned subsidiaries and/or joint ventures thereby adding to the hydrocarbon resources already established in these blocks. The details of discoveries are:

• August, 2013 – Petrobras, the Operator of the BM SEAL – 11, has confirmed the presence of light hydrocarbons in the Appraisal Well, drilled in Farfan Discovery Area. The consortium will carry on the operations in the area to confirm the extent of hydrocarbons in place and characteristic of the reservoir conditions encountered.

• October, 2013 – Petrobras, the Operator of the BM SEAL – 11 announced that it has completed the formation test in Well (3-SES -176D), informally known as Farfan 1#. The test evaluated 30 meters of turbidite sandstones formation and confirmed good reservoir characteristics featuring excellent productivity of good quality oil.

• November, 2013 – Anadarko, the Operator of BM – C- 30 Concession that Wahoo – 5 appraisal well has encountered more than 200 net feet of high quality pay in pre-salt reservoir. After the balance sheet date, the following discoveries were announced:

• January, 2015 - Petrobras, the Operator of the BM SEAL – 11 announced the discovery of new oil accumulation in Farfan area in the Sergipe basin. The results confirmed the light oil and gas discovery in Farfan area and presented the excellent permoporosity conditions in the turbidities reservoirs with 54 meters thickness.

• February, 2015 - Petrobras, the Operator of the BM SEAL – 11 announced the drilling results of the third appraisal well 3-SES- 186, located 103 km from the city of Aracaju and about 10 km from the discovery well “Farfan”. The results confirmed the extension of the light oil reservoirs. In addition the well found presence of a new oil accumulation with a total thickness of 68 meters in shallower reservoirs.

• April, 2015 - Petrobras, the Operator of the BM SEAL – 11 completed the formation test of well 3-BSRA-1286-SES located in BM SEAL – 11 concession in the SEAL – M- 426 Block in ultradeep waters of the Sergipe Alagoas Basin. The results confirmed the presence of light oil and good productivity of reservoirs. This drilling identified two reservoir intervals of light oil and gas – the top thickness of 44 meters and the bottom 11 meters thick. The bottom zone is the new discovery of the area.

TELECOM

Videocon Telecommunications Limited (VTL), a subsidiary of the Company, is an Indian cellular service provider that offers GSM mobile services in India.

On 3rd March, 2013, VTL was awarded the Unified Licenses Access Services for six circles, namely, Bihar, Gujarat, Haryana, Madhya Pradesh and Chhattisgarh, Uttar Pradesh (East) and Uttar Pradesh (West) effective 16th February 2013, which are valid for a period of 20 years.

VTL has also been allotted 5Mhz spectrum in 1,800 Mhz category in each of these six circles. VTL is providing commercial services.

POWER

The Company has commissioned three solar power projects viz., 5.75 MW solar Photovoltaic Power Project in Village Majra, District Warora, Maharashtra; 5.75 MW solar PV power project in Village Betwasiya, District Jodhpur, Rajasthan has been commissioned by the Company through its step down subsidiary, Comet Power Private Limited; and 5.5 MW solar PV power project in Gujarat has been commissioned by the Company through Unity Power Private Limited (26% equity stake held by the Company). These solar projects are operating at full capacities and are generating electricity.

The Company’s thermal power business consists of two 1,200 MW coal-fired thermal electricity power projects under construction, the Power Project in the state of Gujarat and the Power Project in the state of Chhattisgarh. These power projects are being undertaken by Pipavav Energy Private Limited and Chhattisgarh Power Ventures Private Limited respectively. These power projects are not yet commissioned.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report has been included

in adherence to the spirit enunciated in the code of Corporate Governance approved by the Securities and Exchange Board of India (SEBI) and in compliance with the provisions of the Listing Agreement.

The Management Discussion and Analysis Report comprises of:

• Industry Overview

• Opportunities and Threats

• Segment-wise or product-wise performance

• Outlook

• Risks and Concerns

• Internal control systems and their adequacy

• Discussion on financial performance with respect to operational performance

• Material Development in Human Resources/Industrial Relations front, including number of people employed

CONSUMER ELECTRONICS INDUSTRY OVERVIEW

The Indian Consumer Electronics Industry is influenced by three key variables- commodity, currency and climate and the period 2013-2014 proved to be quite challenging in respect of all three parameters. The period saw high commodity inflation coupled with a steep depreciation of the Indian currency which impacted the consumer appliances industry severely.

The Indian Consumer Electronics and Home Appliances Industry has undergone tremendous changes in the last two decades. Due to rapid changes in technology and also due to fierce competition, new products with smart features are being introduced at very short intervals. It is therefore necessary that products need to be technologically ahead of their times so that they can stay for a longer interval. The success of the appliances industry is also critically dependent on awareness and acceptability of state of the art, smart and energy efficient products by consumers.

The Global Consumer Electronics Industry is heading towards a strong growth post the global economic slowdown. Meaningful product and technological innovation continues to define the industry. With the advent of information age, the consumers are becoming more aware about the new technologies. This has also led to faster adoption of new technologies. With strong purchase intention from both the developed and developing countries, the industry is set to grow further.

Consumer Electronic Industry is at a pivotal point. Greater synergies are making room for astounding collaboration between various technologies creating a world of endless possibilities. This has led to consumer electronics manufacturers to focus on innovation and next generation technologies to bring out meaningful products for the ever growing customer base.

CONSUMER ELECTRONICS SEGMENT – VIDEOCON

The Consumer Electronics Industry has become rich and more affordable and now the emphasis is placed on improving the user experience and delight. The entire generations of Indian consumers, who once felt grateful simply for being able to experience the same brands as the rest of the world, can now ask for products that cater to their wants and needs. The Company has constantly leveraged a culture of innovation to develop a wide range of market re-defining products with a state-of-the-art-technology and global quality. As a brand, they strive for building a product that is capable of enhancing customer experience and making lives comfortable. The changing face of Indian economy has ensured a rise in disposable income along with infrastructure development across the country.

This has led to the growth of Consumer Electronics Industry. With the increased demand along with the changing tastes and preferences of consumers has led to innovative measures on the part of Company. The Company’s philosophy of innovation and customer centricity has led to introduction of the products tailor made as the needs and wants of Indian consumers.

The Company manufactures, assembles and distributes a comprehensive range of consumer electronic products and home appliances, including finished goods such as televisions, home entertainment systems, refrigerators, washing machines, air conditioners, small household appliances and components such as glass shell (panels and funnels), compressors and motors.

The main area of expertise for the Company is production of vide range of consumer electronics products and home appliances as follows-

Televisions:

Amidst constantly evolving television technology and consumer expectations, Indian television sector is witnessing significant growth in consumer demand. Digitization of broadcast, reduced replacement cycles and increased affordability is driving growth in the Indian television market. The huge rural populace is projected to be the greatest source of incremental demand for LED TVs in coming years.

Televisions continue to be the mainstay of the Consumer Electronics Industry with the transition occurring to newer technologies. Increasing demand for higher pixel ratio with internet ready features has changed dynamics of television market. To stay ahead of these changing consumer dynamics your Company has launched many featured rich products like 4K Ultra HD LED TVs, 3D LED TVs, Smart TVs and DDB LEDs.

Some of the eye catching features of televisions are:

• 4K Ultra HD: 4K technology with 8.3 Megapixels which provides outstandingly detailed and crisp pictures. It displays four times more pixels than Full HD and 8 times more than an HD.

• 3D Image Processing: Pictures get real with immersive 3D technology using active shutter viewing glasses, due to which 3D images are clearer and finer in detail.

• Smart TV: Enabling consumer to browse internet, log on to Social media networks, video chat on Skype, watch videos on YouTube and do much more through television.

• Gesture control and Motion gaming: Smart hand gesture controls lets you adjust volume, find and browse select content, all without having to pick up a remote. Motion gaming technology allows consumer to use body movement to play game directly on the television.

• Enhanced Connectivity: Features like N Screen and Home cloud allows to wirelessly connect multiple devices like mobile phones, Tablets PCs, home theaters and personal computers to sync content.

• Smart Remote Technology: Remote enabled with touch and directional sensors for easy control and convenient browsing of content.

• Nautilus Sound Mode: LEDs grant ease of use for the most

dramatic and impactful home entertainment experiences. Touted for its Nautilus Sound Mode, the LED brings truly immersive high-quality surround sound to the TV. Further, the Company believes that currently it is one of the largest CRT (Cathode Ray Tubes) TVs manufacturers in India. The Company offers more than 40 colour TV models ranging from 14” to 21” of which more than 28 models are categorized as slim and true flat CRT TVs with features such as picture-in-picture, surround sound, digital sensi eye etc.

The Company also offers more than 150 LED TVs models from 16” to 85” which inter-alia include the features such as 3840*2160 resolution, Built-in satellite reception, Motion Sensor, Voice control, Face Recognition, High Definition.

Technology and Innovation are key factors behind the Company’s market leadership. The Company will further strengthen its business growth in coming years. Their endeavor is to innovate and create products which are in sync with consumer sentiments. The marketing plans will support flagship launches and apart from traditional marketing our focus will be on experiential marketing campaigns and better in store visibility to provide 360 degree product experience to our consumers.

Microwave Ovens:

The Indian Microwave Oven market remained stagnant in the year. With low stakes, the category did not witness significant expansion efforts by manufacturers during the economic slowdown and also remained subdued on shopping priority.

There was a time when microwave ovens were merely used as a convenience appliance to warm food, but with the changing trend and technology the demand and expectations from microwave have changed significantly. Now the microwave oven has become a “must have” appliance. Today the microwave oven is designed in a manner that lets its users enjoy a complete cooking experience at home. With a clever technology of defrost, boil, bake, roast, grill and intelligent multi-sensors the user can manage to have a variety of dishes in a single appliance.

Washing Machines:

The Company believes that it was the first Company to introduce Washing Machine in the Indian market and over the years it remained the market leader in this segment. Overall, the market consists of three categories - washers, semi-automatic and fully automatic. Washing Machines market is expected to grow over the next three years. The diminishing price differential between high end range of semi automatic twin tub washing machines and top loading fully automatic washing machines and the fact that the later require very little manual intervention during the washing process have been the key growth drivers. The Company is the market leader in this segment with 26 percent market share. The Company has developed several key Unit Selling Points (USPs) for washing machines. Some of them are:

a. Germ free washing machines

b. Rust free washing machines

c. Hole less wash tub

d. Multiple water selection levels

e. Multi pulsator

The shift of the users from semi-automatic to fully automatic versions has been a major trend driving the Indian Washing Machine market. The Company has introduced new technologically advanced series of Fully-Automatic Washing Machines. These machines are empowered by modern features like Fuzzy Logic, custom wash programs, Memory backup, etc. These features have brought in added convenience to life of their consumers. Their research team is constantly striving towards delivering products with improved technology which are ergonomically sound and environmental friendly.

Features:

• Slim line series of Fully Automatic Front Loading (FAFL) machines which are sleek and with modern technology like inverter drive motor, Ozone wash, Multiple spin speed selection.

• Hot Water sterilization which consumes less power and water.

• Full range of Digi Pearl series from 6.2 kg to 7.0 kg FA Washing Machines with vibrant colours and aesthetically superior looks, multiple wash selection option, lesser water consumption and higher performance.

• Refurbished Digi Pearl series of 6.5, 6.0 kg and 5.5 kg FA

Machines with multiple wash programs, multiple water levels

selections etc.

• New designer slim range of Zara series of Semi-automatic Washing Machines with new features and trendy looks.

Air Conditioners:

The market of air conditioners in India has been on a steady growth ever since, apart from certain exceptions. Increasing demand by the residential sector owing to reduction in prices has instigated the Company to aim for a higher market share in the high potential market of air conditioners in India. The rising middle-income group and nuclear families have fueled the demand for air conditioners in the urban areas.

The perception of people towards this product category has witnessed a paradigm shift over the years from a luxury product to becoming a necessity in hot humid weather conditions of India. To suit to these harsh Indian weather conditions your Company has launched an innovative air conditioner powered by Quantum edge technology.

Salient features of this technology are as follows:

• Powerful cooling even at 550 C

• 100% Copper condenser

• Wear resistant material

• Optimized Compressor

Growing need for healthy and comfortable living in urban areas has led to consumers demanding improved features than basic air-conditioning. To meet these upcoming needs the company have launched WI-FI enabled AC which can be controlled remotely using user’s mobile phone. This enables consumer to access to AC controls from any convenient location.

The Company has introduced the AC keeping in the mind the requirements such as Eco friendly, low-noise, healthier air, smart and trendy looks.

Refrigerators:

Refrigerator market in India is a second largest segment of the consumer durable industry. The utility and the need of refrigerator is felt 365 days in a year and hence has become an indispensable item of every household. Increased disposable income of urban households has contributed to rising demand of rich and higher capacity products. With improving infrastructure in rural geographies, an increase in rural demand is also expected in coming years.

The Company is committed to bring in new technology to cater to all segments of consumers. With tasteful exterior finishes, exclusive designs and equipped with plethora of tailor-made features, the Company has introduced masterpiece refrigerators to fit the consumer needs.

Some of the eye catching features of the refrigerators are:

• Energy Efficient model which reduce energy consumption by up to 30%

• Innovative storage options like Wine Rack, Bottle Zone and Spice Zones

• Models with a smart LED Lit handle with photo sensors, which sense darkness.

• Cosmetic racks.

• Side by side refrigerators of higher capacity.

• Ice & water Dispenser.

• Cool Booster for retaining cooling during power cut.

• Fast Ice and Ice Zone function to make Ice Faster.

• Twin Drawer Base for keeping Onion, potato, garlic etc.

• Multi Purpose Chiller Tray for keeping Juice, water, etc bottles which can quick chill.

• Bottle separator for separating and supporting bottles.

• VCM & PCM door Finish with Stylish Flush Look.

• Safety Glass Shelves, Flush Look Doors, Deodorizers, Humidity Controlled Crisper and other innovative features in Refrigerator.

• Up to bottom foaming for Strong Refrigerator cabinet.

Small Home Appliances:

Over the years technology has influenced Indian consumers in all walks of life, small home appliance have also evolved to suit changing lifestyle of Indian consumers. Today, Indian cooking appliances are not only limited to Gas based cook tops but also have inducted Microwave ovens, induction cook tops and Air fryers to Indian kitchens. The Company has come up with variety of products which are suited to meet the Indian needs of cooking and heating.

With rising awareness of healthy eating habits and nutrition science, demand for healthier cooking options has risen. There has been a constant research and development activity to create a technology for preservation of the nutrients while cooking, keeping in mind the growing health-conscious youth population. The Company has developed innovative products for Indian consumers which guarantee healthier cooking methods without compromising on the taste. One such product is Oxyfryer which help consumer to do oil free frying while delivering higher nutritional value compared to traditional cooking methods. Oxyfryer can cook wide range of Indian fried dishes without compromising on taste. Company is constantly working towards bringing more innovative product to Indian households.

Glass Panels and Funnels

The Company believes that it is one of the largest manufacturers of glass panels and funnels for colour TVs. The Company produces glass panels and funnels, the key components of CRTs, with sizes ranging from 14” to 21”. The Company sells panels and funnels internationally to the Chinese market.

OVERVIEW OF OIL AND GAS INDUSTRY

India is today the 5th largest consumer of energy and imports 75 percent of its oil requirements. During the economic slowdown, the country’s economy has not witnessed a healthy growth rate. To sustain high growth rate, India needs substantial quantity of crude and natural gas. The oil and gas industry is one of the most important sectors of any economy and directly impacts the energy security of a country. Any change in supply and pricing of petroleum products directly impacts cost of day-to-day economic activities.

With the formulation of New Exploration Licensing Policy (NELP), the ministry’s objective of increasing the pace of reserve accretion appears to be slowing achieving results with discoveries and accretion of domestic reserves. A large proportion of these discoveries can be attributed to private sector, owing largely to its ability to deploy best available technical expertise worldwide, making their finds per block ratio more favorable than those of Public Sector Undertakings. India’s oil and gas sector has attracted investors round the globe as the country enjoys rich reserves of resources.

The oil and gas industry has been instrumental in fuelling the rapid growth of the Indian economy. This sector constitutes over 15 percent of the Gross Domestic Product (GDP) of the country. Petroleum exports of refined producers have also emerged as the single largest foreign exchange earner for the country. Oil and gas industry has a vital role to play in India’s energy security and for India to sustain its high economic growth rate.

OIL AND GAS SEGMENT – VIDEOCON

The Company has marked its presence in the oil and gas section through various joint ventures and establishment of its subsidiaries.

OUTLOOK

Indian economy is transforming to one of the fastest growing economies of the world. Rise in income and employment along with increase in women employment has led to accumulation of high disposable income and change in lifestyle. The consumer electronic products have become a necessity rather than a luxury due to changes in socio-economic environment. These changes are favorable for the growth of consumer electronic and durable industry. Value and volume sales are expected to witness strong growth in the forecast period.

The Company has adopted the best and the most sophisticated technology to suit Indian needs. The Company, as a part of global diversification, has been planning international forays in the same industry and has successfully forayed into international market, either directly or indirectly.

The margin in the industry is under pressure. However, the Company expects that it can meet the challenges with its strength in marketing network, its strategic alliance with led players in the sector, productivity improvement and cost reduction exercises which have already been launched in right earnestness. These measures would place the Company in a position of comfort to meet future challenges. The Company is also expanding its manufacturing capacities to achieve economies of scale and global competitiveness.

The Company intends to continue to cultivate and develop its technical collaborations with global leaders in its product areas. The objective of international marketing would be to gain marketing position in areas that are demographically and psycho-graphically similar to India.

FIXED ASSETS

· Freehold Land

· Leasehold Land

· Building

· Leasehold Improvements

· Plant and Machinery

· Furnace

· Electrical Installation

· Office Equipments

· Computer System

· Furniture and Fixture

· Vehicles

· Computer System

· Goodwill

· Computer Software

WEBSITE DETAILS

VIDEOCON TELECOM TO INVEST RS 1200.000 MILLION IN CURRENT FISCAL

Jun 12, 2015

As part of its efforts, the company roped in Bollywood actress and model Gauahar Khan as its brand ambassador.

Videocon Telecom, the telecom arm of Videocon Group, on Friday said it is planning to invest Rs 1200.000 Million for branding and communication activities in the current fiscal.

As part of its efforts, the company roped in Bollywood actress and model Gauahar Khan as its brand ambassador.

"This fiscal year, Videocon Telecom will invest Rs 120 crore on brand and communication to connect with the fast-emerging young mobile phone subscribers from tier II and smaller towns," the company said in a statement. ADVERTISING Videocon Telecom plans to leverage the association with Khan through various media, including TV commercials, Out-of-Home (OOH), press ads and digital marketing, it added.

"Gauahar signifies a positive vibrancy, bold attitude, sense of dedication and reflects our brand spirit-young, vibrant, and cool.

Going apt with the same, this association has been established to connect with the youth consumers at ground level," Videocon Telecom Director and CEO Arvind Bali said.

Videocon Telecom has a subscribers base of over 10 million across four circles. It offers services in the states of Bihar, Gujarat, Haryana, Madhya Pradesh and Uttar Pradesh.

According to telecom regulator TRAI, the company added 2,30,929 new users in a month to take its total user base to 71,33,758 at the end of March 31, 2015.

VIDEOCON-BPCL CONSORTIUM DISCOVERS OIL OFF BRAZILIAN COAST

April 20, 2015

Shares of Videocon Industries and BPCL clocked gains in a falling market on Monday as they announced the appraisal of their third well off the Brazilian coast.

Petrobas, the block operator, completed the formation test (assessing the potential of a petroleum deposit) of well three in the ultra-deep waters of the Sergipe-Alagoas basin. The results of the formation test confirmed the presence of light oil (37° API) and good productivity of the reservoirs.

The exchange filings made by Videocon and BPCL separately said the drilling identified two reservoir intervals of light oil and gas – the top with a thickness of 44 m and the bottom 11 m thick, the bottom zone being a new discovery for the area. The well is located 102.7 km from the city of Aracaju (SE) and 10.3 km from the first discovery well “Farfan”, in a water depth of 2,467 meters.

Petrobras holds 60 per cent participating interest in the concession and IBV Brasil (a Brazilian joint venture equally held by Videocon Energy Brazil Ltd, a wholly owned overseas subsidiary of Videocon, and BPRL Ventures N.V., a wholly owned subsidiary of Bharat Petroleum Corporation Ltd) holds the remaining 40 per cent.

The consortium partners will continue implementation of the discovery assessment plan as approved by the Brazilian regulatory authority, Agencia Nacional Do Petroleo, Gas Natural e Biocombustiveis (ANP).

In the filing, Pradeep N Dhoot, Director, Global E&P Business, Videocon Hydrocarbon Holdings Ltd, said: “The formation tests of the new hydrocarbon accumulations at multiple plays will further add to the hydrocarbon resources already indicated in the said blocks.”

Shares of BPCL gained 0.77 per cent to close at Rs. 803.90 while Videocon rose 0.16 per cent to end the session at Rs. 158.20.

VIDEOCON EYES DOUBLING OF AC MARKET SHARE

The AC market grew by about 15 percent last year across India and the size of the market is expected to go up from 3.500 Million ACs sold last year to 4.000 Million ACs.

Home appliances maker  Videocon on Tuesday said it is looking to more than double its market share to 12 percent in the AC segment by the end of 2015.

"We are looking at increasing our AC sales by 2.5 times and expanding our distribution penetration accordingly," Sanjeev Bakshi, country head-AC at Videocon, told reporters. "We are doubling our selling points to 9,500 by end of the fiscal from 4,500 presently," he added.

The company, which launched a new range of ACs on Tuesday, is also setting up a new manufacturing facility in Madurai, Tamil Nadu, which is the second largest market for them after Maharashtra.

"The Madurai facility will be operational by the end of 2015," Bakshi said , adding besides ACs the facility will also manufacture televisions, refrigerators, and mobile phones going forward.

"We will be increasing our total production capacity to six lakh ACs this fiscal," he said The production capacity at Aurangabad in Maharashtra will be doubled to four lakh AC units from 2.5 lakh AC units and Madurai will have a production of two lakh ACs, he added.

"We have 65 new AC models from 36 last year. All this will help us realise our target," he said. When asked about e-retailing of ACs, Bakshi said the company does not have any partnerships as of now.

"Videocon will continue to rely on traditional sales channels primarily," he said. "ACs are very logistic intensive and this is the largest challenge in last mile delivery," he added.

The AC market grew by about 15 percent last year across India and the size of the market is expected to go up from 3.5 Million ACs sold last year to 4.0 Million ACs, Bakshi said.

Voltas is currently the market leader, with about 16 percent of the market share, followed by LG, Samsung and Videocon.

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 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

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8] Affiliation with Government :

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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.63.60
UK Pound	1	Rs.100.09
Euro	1	Rs.71.23

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	DIV
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	8
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		56

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	--

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