MIRA INFORM REPORT

Report No. :	351512
Report Date :	24.11.2015

IDENTIFICATION DETAILS

Name :	PHILIPS INDIA LIMITED (w.e.f. 23.10.2013)

Formerly Known as :	PHILIPS ELECTRONICS INDIA LIMITED

Registered Office :	7, Justice Chandra Madhab Road, Kolkata – 700020, West Bengal
Tel. No.:	91-33-24867621

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	31.01.1930

Com. Reg. No.:	21-006663

Capital Investment / Paid-up Capital :	Rs.575.000 Million

CIN No.: [Company Identification No.]	U31902WB1930PLC006663

IEC No.:	0388013567

TAN No.: [Tax Deduction & Collection Account No.]	MUMP17956B

PAN No.: [Permanent Account No.]	AABCP9487A

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer of Electronic Products.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (66)

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

Status :	Good

Payment Behaviour :	Regular

Litigation :	Exist

Comments :	Subject is a subsidiary of Koninklijke Philips NV (KPNV). It is a well-established company having fine track record. The company has decent revenue base marked by satisfactory profitability margin. Rating also takes into consideration company’s leading market position and its healthy financial risk profile because of low gearing and high financial flexibility. Trade relations are fair. Business is active. Payments are regular and as per commitment. In view of strong financial support, the company can be good for business dealings at usual trade terms and conditions.

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	AA – Long Term Rating
Rating Explanation	Have high degree of safety and carry very low credit risk.
Date	17.11.2015

Rating Agency Name	CRISIL
Rating	A1+ - Short Term Rating
Rating Explanation	Have very strong degree of safety and carry lowest audit risk.
Date	17.11.2015

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

LOCATIONS

Registered Office / Eastern Regional Office:	7, Justice Chandra Madhab Road, Kolkata – 700020, West Bengal, India
Tel. No.:	91-33-24753621/24753627/24964560/26912000 / 24867123 / 44024000
Fax No.:	91-33-24753839/24938722/26912499
E-Mail :	info@philipsindia.com k.ramachandran@in.philips.com r.j.wani@philips.com rajiv.mathur@philips.com
Website :	www.philipsindia.com www.philips-star.com www.philips.com www.india.philips.com
Location :	Owned

Regional Offices / Branch :	Mumbai Technopolis Knowledge Park, Mahakali Caves Road, Chakala, Andheri (East), Mumbai - 400 093, Maharashtra, India Tel.: 91-22-6691 2000 Fax : 91-22-6691 2499 Bangalore MFAR Manyata Teck Park, Nagavara, Bangalore – 560045, Karnataka, India Tel. 91-80-41890000 Hyderabad 6-3-1109/1/P/103, 3^rd Floor, Jewel Pawani Towers, Raj Bhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India Tel No.: 91-40-66467676 Gurgaon 9^th Floor, DLF 9-B, DLF Cyber City, Sector25, DLF Phase-3, Gurgaon – 122002, India Tel. No. : 91-124-4606000

DIRECTORS

AS ON 31.03.2015

Name :	Mr. Krishnakumar Ananthasubramanian
Designation :	Managing Director
Address :	705, The Aralias, DLF Golf Link, Golf Course Road, Gurgaon - 122009, Haryana, India
Date of Birth/Age :	26.05.1971
Date of Appointment :	25.09.2014
DIN No.:	06764395

Name :

Mr. Vivek Gambhir

Designation :

Director

Address :

D-84, Malcha Marg, Ground Floor, Chanakyapuri, New Delhi - 110021, United States of America

Date of Birth/Age :

27.11.1968

Date of Appointment :

25.09.2014

DIN No.:

06527810

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY/ LLP STATUS	DEFAULTING STATUS
1	L24246MH2000PLC129806	GODREJ CONSUMER PRODUCTS LIMITED	Managing director	01/07/2013	30/04/2013	-	Active	NO
2	U93020MH2004PTC148187	BHABANI BLUNT HAIR DRESSING PRIVATE LIMITED	Nominee director	08/10/2013	08/10/2013	05/03/2014	Active	NO
3	U31902WB1930PLC006663	PHILIPS INDIA LIMITED	Director	25/09/2014	28/03/2014	-	Active	NO

Name :

Mr. Susim Mukul Datta

Designation :

Director

Address :

104B, Bakhtavar, Lower Colaba Road, Colaba, Mumbai - 400005, Maharashtra, India

Date of Birth/Age :

07.01.1936

Date of Appointment :

25.09.2014

DIN No.:

00032812

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY/ LLP STATUS	DEFAULTING STATUS
1	U31902WB1930PLC006663	PHILIPS INDIA LIMITED	Director	25/09/2014	31/03/1993	-	Active	NO
2	U65991MH1995PLC087722	TATA TRUSTEE COMPANY LIMITED	Director	26/04/1995	26/04/1995	25/09/2013	Active	NO
3	L17100MH1984PLC033143	ZODIAC CLOTHING COMPANY LIMITED	Director	25/06/1996	25/06/1996	05/03/2015	Active	NO
4	L23200MH1979PLC021359	CASTROL INDIA LIMITED	Director	01/07/1996	01/07/1996	-	Active	NO
5	U66010WB1932PLC007490	THE PEERLESS GENERAL FINANCE & INVESTMENT CO LTD	Director	12/08/1996	12/08/1996	-	Active	NO
6	L65999MH1986PLC147981	IL & FS INVESTMENT MANAGERS LIMITED	Director	25/09/1996	25/09/1996	-	Active	NO
7	L40200WB1935PLC008184	LINDE INDIA LIMITED	Director	12/12/1996	12/12/1996	09/02/2012	Active	NO
8	U74140MH1996PTC103158	SMD MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	10/10/1997	10/10/1997	-	Active	NO
9	U65923MH1997PTC109992	AMBIT CORPORATE FINANCE PRIVATE LIMITED	Director	07/06/1999	07/06/1999	30/11/2007	Active	NO
10	L24202MH1920PLC000825	KANSAI NEROLAC PAINTS LIMITED	Director	17/05/2000	17/05/2000	31/08/2012	Active	NO
11	L70109TG1995PLC019116	TRANSPORT CORPORATION OF INDIA LIMITED	Director	31/10/2001	31/10/2001	-	Active	NO
12	U51392WB1965PTC026344	CHANDRAS' CHEMICALS ENTERPRISES PRIVATE LTD	Director	07/01/2002	07/01/2002	-	Active	NO
13	L99999GJ1975PLC002859	ATUL LIMITED	Director	28/10/2002	28/10/2002	-	Active	NO
14	U40101KA1986PLC007404	BHORUKA POWER CORPORATION LIMITED	Director	19/08/2015	23/12/2002	-	Active	NO
15	U65929HR1998PLC037509	RABO INDIA FINANCE LIMITED	Director	09/03/2015	01/08/2004	-	Active	NO
16	U74140WB1996PTC079369	CHR Global HR Services Private Limited	Director	02/01/2006	02/01/2006	21/04/2008	Active	NO
17	U74899DL1995PLC104560	First Blue Home Finance Limited	Director	24/08/2006	24/08/2006	10/12/2010	Amalgamated	NO
18	U55101WB1990PLC049988	PEERLESS HOTELS LTD.	Director	27/08/2007	26/09/2006	15/07/2014	Active	NO
19	U85110WB1989PLC046938	PEERLESS HOSPITEX HOSPITAL AND RESEARCH CENTER LTD.	Director	27/08/2007	23/04/2007	11/08/2010	Active	NO
20	U85100MH1991PLC063096	WOCKHARDT HOSPITALS LIMITED	Director	09/09/2008	13/08/2007	03/08/2009	Active	NO
21	U63090WB2003PTC097044	REACH CARGO MOVERS PRIVATE LIMITED	Director	10/07/2009	06/11/2007	26/02/2014	Active	NO
22	U51900MH1999PTC121703	Ambit Holdings Private Limited	Director	29/07/2008	30/11/2007	12/04/2012	Active	NO
23	L55101WB1999PLC090672	SPECIALITY RESTAURANTS LIMITED	Director	01/04/2014	09/02/2011	-	Active	NO
24	U31909TN2004PLC053183	DOOR SABHA NIGAM LIMITED	Director	29/09/2011	18/06/2011	30/03/2015	Active	NO
25	U70109WB1987PLC042819	PEERLESS FINANCIAL PRODUCTS DISTRIBUTION LIMITED	Director	27/08/2012	20/04/2012	-	Active	NO

Name :

Mr. Vikram Mukund Limaye

Designation :

Director

Address :

18, Sheenivas, 5th Floor, Shivaji Park, D.V. Deshpande Marg, Dadar (West), Mumbai - 400028, Maharashtra, India

Date of Birth/Age :

22.09.1966

Date of Appointment :

25.09.2014

DIN No.:

00488534

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY/ LLP STATUS	DEFAULTING STATUS
1	U67190MH2002PLC137798	IDFC ALTERNATIVES LIMITED	Nominee director	15/04/2005	15/04/2005	-	Active	NO
2	U74920MH2006PLC160937	IDFC INVESTMENT ADVISORS LIMITED	Director	03/04/2006	03/04/2006	18/03/2015	Amalgamated	NO
3	U65921MH2006PTC163408	SMMS INVESTMENTS PRIVATE LIMITED	Nominee director	05/08/2006	05/08/2006	18/07/2007	Active	NO
4	U64200MH1995PTC087657	OMEGA TELECOM HOLDINGS PRIVATE LIMITED	Director	28/12/2007	17/08/2006	31/12/2007	Active	NO
5	U65990MH2002PLC137533	IDFC TRUSTEE COMPANY LIMITED	Nominee director	26/09/2006	26/09/2006	18/03/2015	Active	NO
6	U67190MH1995PLC092221	IDFC Capital Limited	Director	21/09/2007	09/11/2006	-	Amalgamated	NO
7	U99999MH1993PLC071865	IDFC Securities Limited	Director	21/09/2007	18/12/2006	-	Active	NO
8	U51103MH2007PLC167611	IDFC PROJECT EQUITY COMPANY LIMITED	Nominee director	06/02/2007	06/02/2007	26/03/2014	Amalgamated	NO
9	U65999MH2002PLC134884	ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED	Director	06/07/2007	03/04/2007	26/11/2012	Active	NO
10	L72200MH2000PLC125319	ECLERX SERVICES LIMITED	Director	10/07/2014	11/08/2007	-	Active	NO
11	U63000MH2005PTC156922	HUMAN VALUE DEVELOPERS PRIVATE LIMITED	Director	24/09/2008	17/08/2007	27/08/2012	Active	NO
12	U99999MH1995PLC087498	SHAREKHAN LIMITED	Director	12/09/2007	17/08/2007	27/08/2012	Active	NO
13	U67190MH2007PLC174867	IDFC PPP TRUSTEESHIP COMPANY LIMITED	Director	09/10/2007	09/10/2007	12/04/2009	Strike off	NO
14	U60200MH2007PLC175335	Jetpur Somnath Highway Limited	Director	24/10/2007	24/10/2007	12/04/2009	Strike off	NO
15	U74210DL2007PTC160401	ATHENA ENERGY VENTURES PRIVATE LIMITED	Additional director	12/11/2007	12/11/2007	09/06/2008	Active	NO
16	U45203MH2007PLC176640	IDFC PROJECTS LIMITED	Director	11/12/2007	11/12/2007	11/09/2012	Active	NO
17	U69990MH1999PLC123190	IDFC AMC TRUSTEE COMPANY LIMITED	Director appointed in casual vacancy	03/07/2008	03/07/2008	27/04/2011	Active	NO
18	L65191TN1997PLC037415	IDFC Limited	Managing director	02/05/2013	15/09/2008	-	Active	NO
19	U51900MH1994PLC078303	STCI Finance Limited	Director	29/09/2009	23/12/2008	27/08/2012	Active	NO
20	U66000MH2009PLC191350	IDFC Pension Fund Management Company Limited	Director	31/03/2009	31/03/2009	23/10/2013	Amalgamated	NO
21	U74991HR2006PLC036951	ORBIS CAPITAL LIMITED	Nominee director	16/07/2010	19/04/2010	18/04/2012	Active	NO
22	U93000DL2011NPL215231	IDFC FOUNDATION	Director	05/09/2013	04/03/2011	-	Active	NO
23	U65993MH1999PLC123191	IDFC ASSET MANAGEMENT COMPANY LIMITED	Director	15/07/2011	27/04/2011	-	Active	NO
24	U93030MH2012PLC228357	IDFC PRIMARY DEALERSHIP COMPANY LIMITED	Director	14/08/2013	13/09/2012	17/06/2014	Amalgamated	NO
25	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	06/06/2013	06/06/2013	18/03/2015	Active	NO
26	U65922MH2014PLC253816	IDFC HOUSING FINANCE COMPANY LIMITED	Director	29/09/2014	04/03/2014	-	Amalgamated	NO
27	U67190MH2014PLC253944	IDFC INFRA DEBT FUND LIMITED	Director	29/09/2014	07/03/2014	-	Active	NO
28	U31902WB1930PLC006663	PHILIPS INDIA LIMITED	Director	25/09/2014	28/03/2014	-	Active	NO
29	U65110TN2014PLC097792	IDFC BANK LIMITED	Director	09/12/2014	21/10/2014	-	Active	NO
30	U65900TN2014PLC097942	IDFC FINANCIAL HOLDING COMPANY LIMITED	Director	07/11/2014	07/11/2014	30/07/2015	Active	NO

Name :

Mr. Rajiv Mathur

Designation :

Whole-Time Director

Address :

1543, Sector -A, Pocket B and C, Vasant Kunj, New Delhi - 110070, Delhi, India

Date of Appointment :

28.09.2015

DIN No.:

06931798

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY/ LLP STATUS	DEFAULTING STATUS
1	U31902WB1930PLC006663	PHILIPS INDIA LIMITED	Whole-time director	28/09/2015	08/12/2014	-	Active	NO
2	U74900WB2015PLC206100	Philips Lighting India Limited	Director	22/04/2015	22/04/2015	-	Active	NO

Name :	Mr. Hariharan Madhavan
Designation :	Whole-Time Director
Address :	F-1, Madhuram Apartments, Old No. 15, Kasturbai Nagar, 3rd Main Road, Adyar, Chennai - 600020, Tamil Nadu, India
Date of Appointment :	28.09.2015
DIN No.:	07217072

Name :

Geetu Gidwani Verma

Designation :

Additional Director

Address :

B-Ph-01, Central Park-1, DLF Phase-V, Gurgaon - 122002, Haryana, India

Date of Appointment :

29.09.2015

DIN No.:

00696047

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY/ LLP STATUS	DEFAULTING STATUS
1	U15541HR1997PLC033750	TROPICANA BEVERAGES COMPANY	Director	29/09/2005	29/09/2005	02/09/2007	Amalgamated	NO
2	U15134DL2005PTC142295	ARADHANA CONVENIENCE FOODS PRIVATE LIMITED	Director	30/09/2008	09/09/2008	30/10/2011	Amalgamated	NO
3	U24246MH1981PLC261125	PONDS EXPORTS LIMITED	Director	01/07/2015	22/09/2014	-	Active	NO
4	U51900MH1963PLC012667	UNILEVER INDIA EXPORTS LIMITED	Director	01/07/2015	22/09/2014	-	Active	NO
5	U31902WB1930PLC006663	PHILIPS INDIA LIMITED	Additional director	29/09/2015	29/09/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajiv Mathur
Designation :	Secretary
Address :	1543, Sector A, Pocket B and C, Vasant Kunj, New Delhi – 110070, Delhi, India
Date of Birth/Age :	28.08.1959
Date of Appointment :	12.07.2013
PAN No.:	AAIPM9775A

Name :	Mr. Hariharan Madhavan
Designation :	Chief Executive Officer
Address :	F-1, Madhuram Apartments, Old No. 15, Kasturbai Nagar, 3rd Main Road, Adyar, Chennai - 600020, Tamil Nadu, India
Date of Appointment :	18.08.2015
PAN No.:	ABNPH9299L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 20.09.2013

MAJOR SHAREHOLDERS – NOT AVAILABLE

Equity Share Break up (Percentage of Total Equity)

AS ON 20.09.2013

Category	Percentage
Nationalised or other banks	0.02
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	96.13
Bodies corporate	0.07
Other top fifty shareholders	0.46
Others	3.32
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electronic Products.

Products :

Item Code No. (ITC Code)	Product description
8539	Lamps
9962	Software Development

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

No. of Employees :

Not Divulged

Bankers :

Bank of Maharashtra, Lokmangal, 1501, Shivaji Nagar, Pune – 411 005, Maharashtra, India
State Bank of India, CAG Branch, Jawahar Vyapar Bhawan, 11^th and 12^th Floor, 1 Tolstoy Marg, New Delhi - 110001, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Long-term maturities of Finance lease obligation long-term	189.000	141.000
Total	189.000	141.000

Auditors :
Name :	BSR and Company Chartered Accountants
Address :	KMPG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAASK1415H

Memberships :	Not Available

Collaborators :	Not Available

Holding and ultimate holding company :	Koninklijke Philips N.V (KPNV)

Subsidiaries :	Preethi Kitchen Appliances Private Limited

Fellow Subsidiary Companies :	Argus Imaging B.V. Philips IPSC Tamasi Kft. Burton Medical Products Corporation Philips Lighting B.V. Chicago Magnet Wire Corp. Philips Lighting Bielsko Sp.z.o.o. Children's Medical Ventures, LLC Philips Lighting Central America, Sociedad Anónima de Capital Variable Dameca A/S Philips Lighting Industry (China) Company, Limited Dynalite Intelligent Light Pty. Limited Philips Lighting Luminaires (Shanghai) Company, Limited. Genlyte Thomas Group LLC Philips Lighting Maseru Pty. Limited. Ilti Luce S.r.l. Philips Lighting Poland S.A. Indalux Iluminación Técnica, S.L. Philips Lumileds Lighting Commercial Luceplan S.p.A Philips LumiLeds Lighting Company LLC Philips (China) Investment Company, Limited. Philips Luminaires (Chengdu) Company, Limited. Philips Argentina Sociedad Anónima Philips Malaysia Sdn. Berhad Philips Austria GmbH Philips Medical Systems (Cleveland), Inc. Philips Automotive Lighting Hubei Company, Limited. Philips Medical Systems (East Africa) Limited Philips Chilena S.A. Philips Medical Systems (Proprietary) Limited Philips Colombiana S.A.S. Philips Medical Systems DMC GmbH Philips Consumer Lifestyle B.V. Philips Medical Systems MR, Inc. Philips Digital Mammography Sweden AB Philips Medical Systems Nederland B.V. Philips do Brasil Ltda. Philips Medical Systems Technologies Limited. Philips Egypt (Limited Liability Company) Philips Medizin Systeme Böblingen GmbH Philips Electrical Industries of Pakistan Limited Philips Mexicana, S.A. de C.V. Philips Electronics (Thailand) Limited. Philips Nederland B.V. Philips Electronics and Lighting, Inc. Philips New Zealand Limited Philips Electronics Australia Limited Philips Oy Philips Electronics Hong Kong Limited Philips Peruana S.A. Philips Electronics Japan, Limited. Philips Polska Sp.z.o.o. Philips Electronics Korea Ltd. Philips' Radio B.V. Philips Electronics Limited Philips Solid-State Lighting Solutions, Inc. Philips Electronics Middle East and Africa B.V. Philips South Africa (Proprietary) Limited Philips Electronics Nederland B.V. Philips Taiwan Limited. Philips Electronics North America Corporation Philips Technologie GmbH Philips Electronics Singapore Pte Limited Philips Ultrasound, Inc. Philips Electronics Technology (Shanghai) Company, Limited. Philips Uruguay S.A. Philips Electronics UK Limited Philips Warehouse and Services B.V. Philips Electronics Vietnam Limited PT. Philips Indonesia Philips Electronique Maroc Respironics, Inc. Philips France Saeco International Group S.p.A. Philips Healthcare (Suzhou) Company, Limited. Shenzhen Goldway Industrial Inc Philips Innovative Applications Teletrol Systems, Inc. Philips International B.V. WOOX Innovations India Private Limited

Employee Trusts :	Philips Electronics India Limited Management Staff Provident Fund Trust Philips India Ltd Superannuation Fund

CAPITAL STRUCTURE

AS ON 20.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

92000000	Equity Shares	Rs.10/- each	Rs. 920.000 Million
20000000	Preference Share	Rs.10/- each	Rs. 200.000 Million
	TOTAL		Rs. 1120.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

57517242	Equity Shares	Rs.10/- each	Rs. 575.172 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	575.000	575.000	575.000
(b) Reserves & Surplus	12459.000	10495.000	9402.000
(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)	13034.000	11070.000	9977.000

(3) Non-Current Liabilities
(a) long-term borrowings	189.000	141.000	104.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	586.000	501.000	727.000
(d) long-term provisions	662.000	664.000	367.000
Total Non-current Liabilities (3)	1437.000	1306.000	1198.000

(4) Current Liabilities
(a) Short term borrowings	1197.000	462.000	2139.000
(b) Trade payables	8433.000	8478.000	7376.000
(c) Other current liabilities	3573.000	3136.000	2625.000
(d) Short-term provisions	2135.000	2044.000	1550.000
Total Current Liabilities (4)	15338.000	14120.000	13690.000

TOTAL	29809.000	26496.000	24865.000

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4112.000	3,949.000	3,555.000
(ii) Intangible Assets	0.000	135.000	148.000
(iii) Capital work-in-progress	183.000	120.000	127.000
(iv) Intangible assets under development	0.000	76.000	142.000
(b) Non-current Investments	1000.000	1,000.000	1,000.000
(c) Deferred tax assets (net)	496.000	437.000	463.000
(d) Long-term Loan and Advances	2924.000	2,517.000	2,399.000
(e) Other Non-current assets	2246.000	2,059.000	1,989.000
Total Non-Current Assets	10961.000	10293.000	9823.000

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	6293.000	5637.000	5362.000
(c) Trade receivables	7721.000	6946.000	4960.000
(d) Cash and cash equivalents	1407.000	1221.000	1390.000
(e) Short-term loans and advances	3329.000	2193.000	3227.000
(f) Other current assets	98.000	206.000	103.000
Total Current Assets	18848.000	16203.000	15042.000

TOTAL	29809.000	26496.000	24865.000

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	58135.000	53166.000	55445.000
	Other Income	235.000	151.000	173.000
	TOTAL (A)	58370.000	53317.000	55618.000

Less	EXPENSES
	Cost of Materials Consumed	3991.000	3774.000	5156.000
	Purchases of Stock-in-Trade	29151.000	27451.000	27337.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(435.000)	(466.000)	(910.000)
	Employees benefits expense	8314.000	7427.000	7171.000
	Other expenses	13338.000	12496.000	13976.000
	Exceptional Items	(74.000)	(106.000)	(41.000)
	TOTAL (B)	54285.000	50576.000	52689.000

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	4085.000	2741.000	2929.000

Less	FINANCIAL EXPENSES (D)	99.000	100.000	96.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	3986.000	2641.000	2833.000

Less/ Add	DEPRECIATION/ AMORTISATION (F)	816.000	783.000	979.000

Less/ Add	EXTRAORDINARY ITEMS	(6.000)	82.000	0.000

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	3164.000	1940.000	1854.000

Less	TAX (H)	1069.000	630.000	516.000

Less / Add	Minority Interest	4.000	(82.000)	0.000

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	2099.000	1228.000	1338.000

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	9173.000	6907.000	4563.000
	TOTAL EARNINGS	9173.000	6907.000	4563.000

	IMPORTS
	Raw Materials	1590.000	1406.000	1890.000
	Components and Stores parts	36.000	63.000	33.000
	Capital Goods	189.000	227.000	240.000
	TOTAL IMPORTS	1815.000	1696.000	2163.000

	Earnings / (Loss) Per Share (Rs.)	36.49	21.35	23.26

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.000	0.000	50.000
Net cash flows from (used in) operations	1,325.000	3552.000	0.000
Net cash flows from (used in) operating activities	204.000	2796.000	(1079.000)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	3.61	2.31	2.41

Operating Profit Margin (PBIDT/Sales)	(%)	7.03	5.16	5.28

Return on Total Assets (PBT/Total Assets}	(%)	11.25	7.80	8.01

Return on Investment (ROI) (PBT/Networth)		0.24	0.18	0.19

Debt Equity Ratio (Total Liabilities /Networth)		0.11	0.05	0.23

Current Ratio (Current Asset/Current Liability)		1.23	1.15	1.10

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	575.000	575.000	575.000
Reserves & Surplus	9402.000	10495.000	12459.000
Net worth	9977.000	11070.000	13034.000

long-term borrowings	104.000	141.000	189.000
Short term borrowings	2139.000	462.000	1197.000
Current Maturity of Long Term Debts	50.000	0.000	0.000
Total borrowings	2293.000	603.000	1386.000
Debt/Equity ratio	0.230	0.054	0.106

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	55445.000	53166.000	58135.000
		(4.110)	9.346

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	55445.000	53166.000	58135.000
Profit	1338.000	1228.000	2099.000
	2.41%	2.31%	3.61%

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

LITIGATION DETAILS:

Case Status : Pending

Status of INCOME TAX APPEAL TENDERED 297 of 2011 COMMISSIONER OF INCOME TAX KOL-IV , KOL

Vs. M/S PHILIPS INDIA LTD .

Pet's Adv. : S.S .SARKAR

Res's Adv. :

Court No. : 4

Last Listed On :

Thursday, May 07, 2015

Category : INCOME TAX : REVENUE

CONNECTED APPLICATION (S)

GA 3178 of 2011
GA 3180 of 2011

CONNECTED MATTER (S)
No Connected Matter

Case Updated on: Thursday, April 09, 2015

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans Repayable on demand from banks	1197.000	462.000
Total	1197.000	462.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10333948	26/12/2011	1,000,000,000.00	STATE BANK OF INDIA	CAG BRANCH, JAWAHAR VYAPAR BHAWAN, 11TH And 12TH FLOOR, 1 TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	B31429764

FINANCE AND ACCOUNTS

The Company has delivered positive net cash from operations through improved sales performance and working capital management. The Company has not made any major borrowing in this year and has managed working capital requirements from internal cash generation.

During the year, the Company has placed inter-company deposits (ICD) with Preethi Kitchen Appliances Private Limited to the tune of Rs.1010.000 million taking the total ICDs placed with Preethi Kitchen Appliances Private Limited to Rs.1950.000 million. These ICDs were from internal accruals.

Capital expenditure during the year was Rs. 1016.000 million (Rs. 1155.000 million during 2012-13) and was towards addition of production line in Vadodara light factory, Information Technology and other cost saving projects.

The Company continued facilitating Healthcare sales with innovative financial solutions to support customers and business, in keeping up pace with the market growth to the tune of Rs. 2773.000 million, using internal accruals.

Lifestyle entertainment business has been transferred to Woox Innovations India Private Limited, during the year, at a total consideration ofRs.1006.310 million.

During the year, the Company has transferred unpaid dividend of Rs. 1.21 million to Investor Education and Protection Fund.

BUSINESS PERFORMANCE

The Notes to the Profit and Loss Account for the year provide segment results. The required disclosure is made below for the Lighting, Consumer Lifestyle, Healthcare and Innovation Campus (Software) Sectors.

CHANGE OF NAME

During the period from 2005 to 2012, as part of its business restructuring, Philips globally divested various non-core and non-profit making business such as Semiconductor business, Television business and Lifestyle Entertainment business.

Accordingly the parent company changed its name from Koninklijke Philips Electronics N.V. to Koninklijke Philips N.V. (KPNV) with effect from May 15, 2013.

In line with global divestment, the same businesses were also divested in India and other countries. Currently in India, Philips operates in Lighting, Consumer Lifestyle and Healthcare Sectors. Since the name Philips Electronics India Limited did not reflect the true nature of the current business operations, the name of the Company was changed from Philips Electronics India Limited to Philips India Limited with effect from October 23, 2013.

FIXED ASSETS

Software
Land
Buildings
Leaseholds
Land
Improvements
Other assets
Machinery and equipment
Furniture and fittings
Vehicles

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

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.35
UK Pound	1	Rs.100.66
Euro	1	Rs.70.47

INFORMATION DETAILS

Analysis Done by :	AMT

Report Prepared by :	SYL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		66

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.