MIRA INFORM REPORT
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Report No. : |
319887 |
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Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SIEMENS LIMITED (31.03.1987) |
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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 |
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Registered
Office : |
130, Pandurang Budhkar Marg, Worli, Mumbai – 400018, Maharashtra |
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Country : |
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Financials (as on)
: |
30.09.2014 |
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Date of
Incorporation : |
02.03.1957 |
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Com. Reg. No.: |
11-010839 |
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Capital
Investment / Paid-up Capital : |
Rs.712.000 Million |
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CIN No.: [Company Identification
No.] |
L28920MH1957PLC010839 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACS0764L |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on the Stock
Exchanges. |
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Line of Business
: |
Providing technology enabled solutions for the industry,
energy, infrastructure and cities, and healthcare sectors. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
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MIRA’s Rating : |
Aaa (86) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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Maximum Credit Limit : |
USD 12000000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating = AAA |
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Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
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Date |
26.06.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating = A1+ |
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Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
26.06.2014 |
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 DENIED
Management Non Co-Operative (Tel No.: 91-80-33451500)
LOCATIONS
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Registered/ Corporate Office : |
130, Pandurang
Budhkar Marg, Worli, Mumbai - 400018, Maharashtra, India |
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Tel. No.: |
91-22–24987000/
01/ 02/ 24931349/ 50 |
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Fax No.: |
91-22–24987500/
52/ 24941758 |
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E-Mail : |
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Website : |
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Plant Locations : |
o
E-76, Waluj, Midc Area, Aurangabad – 431136,
Maharashtra, India o
Plot No – A 1/2, Five Star Midc, Shendra,
Aurangabad – 431201, Maharashtra, India o
Plot No. C-1, Additional Industrial Area, Midc,
Ambad, Nashik - 422010, Maharashtra, India o
Thane - Belapur Road, Thane - 400601,
Maharashtra, India o
Plot No. R-508 , Ttc, Industrial Area, Midc,
Rabale, Thane - 400701, Maharashtra, India o
Thane-Belapur Road, Airoli, Navi Mumbai – 400708,
Maharashtra, India o
Plot No. D-41/1, Ttc Industrial Area, MIDC
Turbhe, Opposite Turbhe Mtnl Exchange, Navi Mumbai - 400705, Maharashtra,
India o
1, Kalwa Wks, Thane Road Digha, Cbd Belapur, Navi
Mumbai – 400708, Maharashtra, India
o
L-6, Verna Industrial Area, Panjim-Margao
Highway, Verna, Goa – 403722, India
o
R.S. No: 144, Maneja Village, Opposite Makarpura
Railway Station, Vadodara – 390013, Gujarat, India o
589 Sayajipura, Ajwa Road, Vadodara – 390019,
Gujarat, India o
Plot B, Halol Phase – Ii, Gidc Industrial Estate,
Village Chandrapura, Halol, District Panchmahal - 389350, Gujarat, India
o
Plot No. 89 And 90, Ida, Gandhinagar, Post Balanagar,
Hyderabad – 500037, Andhra Pradesh, India
o
972, Devanahalli Road, Off Old Madras Road,
Virgonagar Post, Bangalore - 560049, Karnataka, India
o
Nimpura Industrial Growth Centre, Po:
Rakhajungle, Paschim Midnapur, Kharagpur – 721301, West Bengal, India
o
Mmg Manufacturing Group - Unit - I, R.S No 16/8,
Kurumbapet Village, Villianur Commune - 605009, Puducherry, India o
Mmg Manufacturing Group - Unit -Ii, R.S No 23/2a,
Uruvaiyaru Road, Abishegapakkam – 605007, Puducherry, India
o
Sector-18, Unit No. 37, Gurgaon – 122002,
Haryana, India
o
309/2, Chettipedy Village, Thandalam Post
Sriperumbudur Taluka, Kancheepuram District – 602105, Tamilnadu, India |
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Sales Offices 1 : |
3rd Floor, Jyoti Mahal, No. 49, St. Marks Road, Bangalore – 560001, Karnataka, India |
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Tel. No.: |
91-80-22042000 |
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Fax No.: |
91-80-41120435 |
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Sales Offices 2 : |
Plot No. 78, JIL Jagatjit Industries Limited, Tower A & B, Sector 18, Gurgaon – 122015, Haryana, India |
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Tel. No.: |
91-124-2842000 / 3846000 |
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Fax No.: |
91-124-2349050 |
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Regional Service
Centers : |
3rd Floor, Prerna Arbour, Off C G Road, Girish Cold Drink Cross Road, Navarangpura, Ahmadabad -380009, Gujarat, India |
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Tel. No.: |
91-79-40207413 |
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Fax. No.: |
91-79-40207699 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Sunil D Mathur |
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Designation : |
Managing Director and Chief Executive Officer |
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Name : |
Mr. Deepak S. Parekh |
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Designation : |
Chairman |
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Date of Birth/Age : |
18.10.1944 |
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Qualification : |
B. Com, FCA (England and Wales) |
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Date of Appointment : |
07.11.2003 |
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Name : |
Mr. Darius C. Shroff |
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Designation : |
Director |
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Date of Birth/Age : |
08.08.1944 |
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Qualification : |
BA (Hons.), LL.B., Solicitor |
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Date of Appointment : |
20.02.1997 |
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Name : |
Mr. Yezdi H. Malegam |
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Designation : |
Director |
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Date of Birth/Age : |
24.09.1933 |
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Qualification : |
CA |
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Date of Appointment : |
01.04.1998 |
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Name : |
Mr. Narendra J. Jhaveri |
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Designation : |
Director |
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Date of Birth/Age : |
09.08.1935 |
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Qualification : |
Master’s Degree in Economics from Gujarat University M.Sc. in Economics from The London School of Economics |
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Date of Appointment : |
09.11.2000 |
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Name : |
Mr. Keki Dadiseth |
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Designation : |
Director |
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Date of Birth/Age : |
20.12.1945 |
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Qualification : |
B. Com., FCA (England and Wales) |
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Date of Appointment : |
27.01.2006 |
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Name : |
Mr. Pradip V. Nayak |
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Designation : |
Director |
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Date of Birth/Age : |
06.09.1943 |
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Qualification : |
Degree in Economics and Politics Read Law at Gray's Inn, London |
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Date of Appointment : |
27.01.2006 |
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Name : |
Mr. Joe Kaeser |
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Designation : |
Director |
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Date of Birth/Age : |
23.06.1957 |
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Qualification : |
Studied Business Administration Dipl.-Betriebswirt |
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Date of Appointment : |
01.10.2006 |
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Name : |
Dr. Roland Busch |
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Designation : |
Special Director (Nominee of Siemens AG) |
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Name : |
Ms. Mariel von Drathen |
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Designation : |
Director (with effect from 2nd August, 2013) |
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Name : |
Mr. Johannes Apitzsch |
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Designation : |
Director* (Alternate Director for Dr. Roland Busch upto 22nd November, 2013) |
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Name : |
Mr. Christian Rummel |
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Designation : |
Executive Director and Chief Financial Offi cer (with effect from 1st February, 2014) |
KEY EXECUTIVES
|
Name : |
Mr. Ketan Thaker |
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Designation : |
Company Secretary |
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Audit Committee : |
· Mr. Johannes Apitzsch |
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Nomination and Remuneration Committee : |
· Ms. Mariel von Drathen |
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Stakeholders
Relationship Committee : |
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Corporate
Governance Committee : |
· Ms. Mariel von Drathen |
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Risk Management Committee : |
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Share Transfer
Committee : |
· Mr. Christian Rummel |
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Corporate Governance Committee : |
· Mr. Johannes Apitzsch |
SHAREHOLDING PATTERN
As on 31.03.2015
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As a % of (A+B) |
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(A) Shareholding of Promoter and Promoter Group |
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267089913 |
75.00 |
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|
267089913 |
75.00 |
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Total shareholding of Promoter and Promoter Group (A) |
267089913 |
75.00 |
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(B) Public Shareholding |
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|
11991360 |
3.37 |
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|
116565 |
0.03 |
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|
250 |
0.00 |
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21178858 |
5.95 |
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|
13481418 |
3.79 |
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|
2921938 |
0.82 |
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|
2921938 |
0.82 |
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|
49690389 |
13.95 |
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|
4306607 |
1.21 |
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32567419 |
9.15 |
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|
1437474 |
0.40 |
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1028393 |
0.29 |
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|
91839 |
0.03 |
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|
29250 |
0.01 |
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|
907304 |
0.25 |
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|
39339893 |
11.05 |
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Total Public shareholding (B) |
89030282 |
25.00 |
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Total (A)+(B) |
356120195 |
100.00 |
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(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
356120195 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Provides technology enabled solutions for the industry,
energy, infrastructure and cities, and healthcare sectors. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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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 |
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Facilities : |
Not Available |
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Auditors : |
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Address: |
14th
Floor, The Ruby, 29 Senapati Bapat Marg, Mumbai – 400028, Maharashtra, India |
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Tel No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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Cost Auditors : |
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Name : |
R. Nanabhoy and
Company Cost Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
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Fellow
Subsidiaries: |
·
Siemens
Healthcare Diagnostics SA Belgium
·
Siemens
Standard Motors Limited, Jiangsu China
·
Loher
GmbH Germany
·
Siemens
Rail Automation Private Limited India
·
Siemens,
S.A. de C.V. Mexico
·
Siemens
S.A. Spain
· Siemens Limited Vietnam |
CAPITAL STRUCTURE
As on 30.09.2014
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs.2/- each |
Rs.2000.000 Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
356983950 |
Equity Shares |
Rs.2/- each |
Rs.714.000 Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
356119885 |
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:
|
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 |
43,044.000 |
39,591.000 |
38,922.000 |
|
(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) |
43,756.643 |
40,303.000 |
39,626.000 |
|
|
|
|
|
|
(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 |
1,048.000 |
|
(d) long-term
provisions |
2,669.000 |
2,535.000 |
3,075.000 |
|
Total Non-current
Liabilities (3) |
3,191.000 |
3,372.000 |
4,123.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
27,373.000 |
25,518.000 |
26,542.000 |
|
(c) Other
current liabilities |
16,471.000 |
15,700.000 |
22,079.000 |
|
(d) Short-term
provisions |
11,797.000 |
13,547.000 |
14,077.000 |
|
Total Current
Liabilities (4) |
55,641.000 |
54,765.000 |
62,698.000 |
|
|
|
|
|
|
TOTAL |
102,588.000 |
98,440.000 |
106,447.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
13,442.000 |
13,559.000 |
13,901.000 |
|
(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) |
3,738.000 |
4,297.000 |
3,176.000 |
|
(d) Long-term loans and Advances |
6,358.000 |
6,164.000 |
5,341.000 |
|
(e) Other
Non-current assets |
4,183.000 |
6,705.000 |
7,773.000 |
|
Total Non-Current
Assets |
28,326.000 |
32,276.000 |
31,672.000 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
10,472.000 |
9,334.000 |
9,431.000 |
|
(c) Trade
receivables |
36,437.000 |
37,668.000 |
39,124.000 |
|
(d) Cash
and cash equivalents |
11,210.000 |
6,038.000 |
9,768.000 |
|
(e)
Short-term loans and advances |
7,776.000 |
4,909.000 |
5,690.000 |
|
(f) Other
current assets |
8,367.000 |
8,215.000 |
10,762.000 |
|
Total
Current Assets |
74,262.000 |
66,164.000 |
74,775.000 |
|
|
|
|
|
|
TOTAL |
102,588.000 |
98,440.000 |
106,447.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2014 |
30.09.2013 |
30.09.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
106,626.000 |
113,526.000 |
129,199.000 |
|
|
|
Other Income |
1,039.000 |
345.000 |
575.000 |
|
|
|
TOTAL
(A) |
107,665.000 |
113,871.000 |
129,774.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw materials consumed |
25,870.000 |
26,056.000 |
25,984.000 |
|
|
|
Purchase of traded goods |
24,413.000 |
23,629.000 |
24,398.000 |
|
|
|
(Increase) / decrease in inventories of finished goods, work-in-progress and traded goods |
(1,487.000) |
224.000 |
(1,014.000) |
|
|
|
Project bought outs and other direct costs |
26,746.000 |
35,459.000 |
49,110.000 |
|
|
|
Employee benefits expense |
14,118.000 |
13,524.000 |
11,959.000 |
|
|
|
Other expenses |
11,023.000 |
10,427.000 |
9,849.000 |
|
|
|
Exceptional item |
(3,827.000) |
(325.000) |
1,200.000 |
|
|
|
Prior period items |
0.000 |
0.000 |
799.000 |
|
|
|
TOTAL (B) |
96,856.000 |
108,994.000 |
122,285.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10,809.000 |
4,877.000 |
7,489.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.000 |
189.000 |
270.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10,727.000 |
4,688.000 |
7,219.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2,291.000 |
2,502.000 |
2,010.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8,436.000 |
2,186.000 |
5,209.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2,404.000 |
246.000 |
1,777.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6,032.000 |
1,940.000 |
3,432.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5,906.000 |
6,110.000 |
4,771.000 |
|
|
|
|
|
|
|
|
|
|
Balance of Profit
and Loss account brought forward due to the amalgamation of Companies |
0.000 |
134.000 |
705.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
194.000 |
343.000 |
|
|
|
Dividend |
2,137.000 |
1,781.000 |
2,112.000 |
|
|
|
Tax on Dividend |
427.000 |
303.000 |
343.000 |
|
|
BALANCE CARRIED
TO THE B/S |
9,374.000 |
5,906.000 |
6,110.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods Direct on FOB basis |
4,170.000 |
5,101.000 |
3,283.000 |
|
|
|
Project Business (Based on Actual Billing) |
8,336.000 |
7,128.000 |
14,067.000 |
|
|
|
Commission |
317.000 |
570.000 |
326.000 |
|
|
|
Service charges and others |
3,368.000 |
2,672.000 |
1,141.000 |
|
|
TOTAL EARNINGS |
16,191.000 |
15,471.000 |
18,817.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials, components, spare parts and traded goods |
34,026.000 |
34,869.000 |
39,859.000 |
|
|
|
Capital Goods |
492.000 |
445.000 |
1,031.000 |
|
|
TOTAL IMPORTS |
34,518.000 |
35,314.000 |
40,890.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
17.54 |
5.69 |
9.75 |
|
|
|
Diluted |
16.94 |
5.45 |
9.75 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
Mar 2015 |
Sep 2014 |
Dec 2014 |
|
Audited / UnAudited |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
26529.800 |
31879.300 |
21859.700 |
|
Total Expenditure |
24028.500 |
2,9666.300 |
1,9970.100 |
|
PBIDT (Excl OI) |
2501.400 |
2213.100 |
1889.600 |
|
Other Income |
360.500 |
623.600 |
303.200 |
|
Operating Profit |
2861.900 |
2836.700 |
2192.800 |
|
Interest |
12.600 |
15.900 |
18.900 |
|
Exceptional Items |
74.500 |
3665.100 |
7045.900 |
|
PBDT |
2923.800 |
6485.900 |
9219.800 |
|
Depreciation |
552.900 |
569.600 |
564.100 |
|
Profit Before Tax |
2370.900 |
5916.300 |
8655.700 |
|
Tax |
752.300 |
1548.400 |
2315.400 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1618.700 |
4367.900 |
6340.300 |
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 (PBDIT/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 Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.21 |
1.19 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
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 |
129,199.000 |
113,526.000 |
106,626.000 |
|
|
|
(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
|
129,199.000 |
113,526.000 |
106,626.000 |
|
Profit |
3,432.000 |
1,940.000 |
6,032.000 |
|
|
2.66% |
1.71% |
5.66% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILBALE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
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 |
|||||
|
|
||||||
|
Petitioner:- |
SIMPLEX INFRASTRUCTURES LIMITED |
Respondent:- |
SIEMENS LIMITED AND ANR- |
|||
|
Petn.Adv:- |
SANTOSH SUBHAS MISHRA (I4042) |
|
|
|||
|
District:- |
OUTSIDE MAHARASHTRA |
|||||
|
Bench:- |
SINGLE |
|||||
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTION (APPEAL) |
|||
|
Next
Date:- |
05/03/2015 |
Stage:- |
|
|||
|
Coram:- |
HON'BLE SHRI JUSTICE V.M. KANADE HON'BLE SHRI JUSTICE A.R. JOSHI |
|||||
|
Act :- |
Arbitration and Conciliation Act 1996 |
|||||
CORPORATE
INFORMATION
Subject was incorporated on 2nd
March, 1957 initially as a private limited company under the name Siemens
Engineering & 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 & Manufacturing Co.
of India Limited to Siemens India Limited on 23rd October, 1967 and thereafter
to the present name on 31st March, 1987.
PERFORMANCE
HIGHLIGHTS
For the financial year ended 30th September, 2014, the Company received
New Orders valued at ` 103,238 Million, a 6 per cent decrease over Rs.109573
Million in the financial year ended 30th September, 2013. Sales (excluding Other Operating Revenues)
were down by 6 per cent to Rs.104483 Million, compared with Rs.111452 Million
in the previous year. The Order Backlog as of 30th September, 2014 stood at
Rs.121022 Million – a decline of 6 per cent compared with Rs.129264 Million in
the previous year. Profits from Operations stood at Rs.3652 Million,
significantly higher by 114% compared with Rs.1705 Million in financial year
2012-13. For the year ended 30th September, 2014, the Company’s Profit Before
Tax (including Exceptional Income) stood at Rs.8436 Million, up by 286 per cent
compared with Rs.2186 Million in the previous year. The Profit After Tax for
the year was Rs.6032 Million, up by 211 per cent compared with Rs.1940 Million
in the previous year. The Board of Directors has recommended a Dividend of Rs.6
per equity share of face value of Rs.2 per share for the financial year ended
30th September, 2014. The Company had paid a Dividend of Rs.5 per equity share
during the previous financial year.
PERFORMANCE ANALYSIS
The Company’s performance during the financial year 2013-14 was at par
with the market, considering the challenging macro-economic environment. Among
the highlights of the financial year 2013-14, the Energy Sector received orders
for approximately Rs.2280 Million from Reliance Industries Limited for supply
of four SST 600 Steam Turbo generator units for its Jamnagar Refinery. The
Sector also received a crucial turnkey order from Power Grid Corporation of
India Limited worth approximately Rs.4110 Million. The Healthcare Sector, which
witnessed growth in Sales of 28 per cent, won the Imaging Company of the Year
Award at the 2014 Frost & Sullivan India Healthcare Awards. The Sector
installed the world’s longest lab automation track at Thyrocare, Mumbai, and
also installed modern healthcare equipment such as ultrasound system with
wireless transducers and 128 slice CT scanners in Tier II cities - Coimbatore
and Surat.
As part of its continuous initiative to enhance the technical skills of
the industry’s work force, the Industry Sector signed Memoranda of
Understanding with Rashtriya Ispat Nigam Limited and Government Tool Room &
Training Centre. It also launched a first-of-its-kind Technology and
Application Center, which allows machine tool manufacturers and users to get a
hands-on experience of the latest CNC technologies and solutions from Siemens
and its partners. The Sector, which was the first India-based manufacturer to
launch motors certified for International Efficiency rating IE3, won global recognition
for its 1LA2 series of Low Voltage IE3 induction motors – the Super-Efficient
Equipment Appliance Deployment (SEAD) Global Efficiency Medal. The
Infrastructure & Cities Sector continued its contribution to the nation’s
urban infrastructure as the Siemens powered Rapid Metro Rail Gurgaon began its
passenger operations. The six-kilometre metro line connects Gurgaon to the
Delhi Metro rail network through an inter-change station at Sikandarpur. The
Sector also received repeat orders worth around Rs.743 Million from Diesel
Locomotive Works, Varanasi, for Traction Motors. The Company has been a
preferred supplier of equipment for the Indian Railways for over six decades
now. The Sector further enhanced the installation base for its Smart Grid
solutions after winning orders from power distribution companies in Uttar
Pradesh. These projects are part of the Government’s Restructured Accelerated
Power Development and Reforms (R-APDRP) programme.
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.
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.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST DECEMBER 2014
(Rs. In Million)
|
Particulars
|
31.03.2015 |
31.012.2014 |
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 |
|
|
|
|
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) |
0.000 |
0.000 |
0.000 |
|
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 |
31.012.2014 |
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 |
31.012.2014 |
31.03.2015 (Unaudited Six Months Ended) |
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
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 |
|
|
|
|
|
INDEX OF CHARGE:
|
Sr. 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 Limited |
364 Dadabhai Naomji Road, Bombay, Maharashtra - 400001, India |
- |
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 Last Updated at 00:46 IST
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 RAIL AUTOMATION BECOMES WHOLLY OWNED
SUBSIDIARY OF SIEMENS
Siemens Limited has now informed BSE that Siemens Rail Automation
Private Limited has become a Wholly Owned Subsidiary of the Company with effect
from October 01, 2014. With reference to the earlier announcement letter dated
January 30, 2014, relating to the Board of Directors of Siemens Limited had
approved the acquisition of 100% equity shares of Siemens Rail Automation
Private Limited from Siemens International Holding BV, Netherlands (99 99%) and
Siemens AG (0.01%) for a consideration of Rs.550.000 Million. Siemens Limited
informed BSE that Siemens Rail Automation Private Limited has become a Wholly
Owned Subsidiary of the Company with effect from October 01, 2014.
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.63.33 |
|
UK Pound |
1 |
Rs.96.51 |
|
Euro |
1 |
Rs.68.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
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.