MIRA INFORM REPORT
|
Report No. : |
339577 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PANASONIC INDIA PRIVATE LIMITED (w.e.f. 03.10.2008) PANASONIC WELDING SYSTEMS INDIA - A DIVISION OF PANASONIC INDIA
PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
PANASONIC SALES AND SERVICES INDIA PRIVATE LIMTIED |
|
|
|
|
Registered
Office : |
6th Floor, Spic Building, Annex No.88, Mount Road, Guindy, Chennai –
600032, Tamilnadu |
|
Tel. No.: |
91-44-22301952 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.07.2006 |
|
|
|
|
Com. Reg. No.: |
18-060554 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7738.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51395TN2006PTC060554 |
|
|
|
|
IEC No.: |
0406014027 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHEP08735G |
|
|
|
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PAN No.: [Permanent Account No.] |
AADCP9391B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in the business of manufacturing, trading
and marketing consumer electronics goods, automotive products and welding
equipment. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “PANASONIC CORPORATION”, Japan. It is an
established company having satisfactory track record. With regards to Indian operations, the company has incurred huge
accumulated losses which has eroded net worth of the company. However, rating takes into consideration PANASONIC’s wide spared
business networks around the world backed by renowned brand name in
electronic segment and recognized in world’s fortune 500 companies. Panasonic brand valued at USD 9280 Million with enterprise value of
USD 30207 million. Rating also takes into account of strong financial and managerial to
Indian operations by Panasonic Corporation (Parent company) backed by its
well experience management team. Trade relations are reported as fair. Payments are reported to be
usually correct. In view of decent brand name and strong parent company support, the
company can be considered for business dealings at usual trade terms and
condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
Not Available
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Neer |
|
Designation : |
Commercial Coordinator |
|
Contact No.: |
91-22-61968400 |
|
|
|
|
Name : |
Mr. Aman Jain |
|
Designation : |
Assistant General Manager Sales |
|
Contact No.: |
91-9873654666 |
|
Date : |
07.09.2015 |
LOCATIONS
|
Registered Office : |
6th Floor, Spic Building, Annex No.88, Mount Road, Guindy, Chennai –
600032, Tamilnadu, India |
|
Tel. No.: |
91-44-22301952/ 61089300/ 61968400 |
|
Mob No.: |
91-8879161065 (Mr. Manish) 91-9873654666 (Mr. Aman) |
|
Fax No.: |
91-44-22301951/ 61089899 |
|
E-Mail : |
|
|
Web |
|
|
Location: |
Owned |
|
|
|
|
Head Office/
Consumer Sales Division : |
1st Floor, ABW Tower, IFFCO Chowk, MG Road, Sector 25,
Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-4596600/ 6770400 |
|
Fax No.: |
91-124-4596625 |
|
Location: |
Owned |
|
|
|
|
Factory : |
Unit - D, Industrial Plot No. 1, Village Bid Dadri, Jhajjar HO,
Jhajjar – 124103, Haryana, India |
|
|
|
|
Branch Office : |
Plot No.D7, 5th Floor, Nanak Chambers, New link Road,
Opposite Fun Cinema, Near Laxmi Industrial Estate, Andheri West, Mumbai – 400058,
Maharashtra, India |
|
Tel. No.: |
91-22-61968400/ 61968440/ 61968441 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Daizo Ito |
|
Designation : |
Whole Time Director |
|
Address : |
15-10, 2-Chome Ueno-Higashi, Toyonaka City, Osaka – 5600013, Japan |
|
Date of Birth/Age : |
27.02.1959 |
|
Date of Appointment : |
30.10.2008 |
|
Din No.: |
02429688 |
|
|
|
|
Name : |
Mr. Naoyuki Kobayashi |
|
Designation : |
Director |
|
Address : |
Apartment No Ppg 284, Dlf Park, Place Dlf City, Phase 5, Gurgaon, 122002, Haryana, India |
|
Date of Birth/Age : |
03.06.1959 |
|
Date of Appointment : |
09.06.2014 |
|
Din No.: |
06892951 |
|
|
|
|
Name : |
Masaaki Hirano |
|
Designation : |
Director |
|
Address : |
Habitare Continental, H-34/5, Dlf, Gurgaon - 122002, Haryana, India |
|
Date of Birth/Age : |
16.03.1965 |
|
Date of Appointment : |
01.09.2014 |
|
Din No.: |
06961963 |
|
|
|
|
Name : |
Toru Hasegawa |
|
Designation : |
Director |
|
Address : |
F1/1101, Uniworld City East, Sector 30, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
08.12.1959 |
|
Date of Appointment : |
18.09.2013 |
|
Din No.: |
03533819 |
|
|
|
|
Name : |
Masaru Miki |
|
Designation : |
Director |
|
Address : |
Flat No C- 043, Park Place, Dlf City, Phase 5, Gurgaon, 122002, Haryana, India |
|
Date of Birth/Age : |
09.02.1969 |
|
Date of Appointment : |
29.09.2014 |
|
Din No.: |
06969115 |
|
|
|
|
Name : |
Mr. Manish Sharma |
|
Designation : |
Director |
|
Address : |
H. No. C-451, C Block, Gate No. 1 Sushant Lok-1, Gurgaon - 122001, Haryana, India |
|
Date of Birth/Age : |
03.08.1972 |
|
Date of Appointment : |
18.09.2013 |
|
Din No.: |
06549914 |
KEY EXECUTIVES
|
Name : |
Shikha Srivastava |
|
Designation : |
Secretary |
|
Address : |
RZF-2/84, Street No.3, Mahavir Enclave-1, New Delhi – 110045, India |
|
Date of Birth/Age : |
22.08.1985 |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
BHRPS2071L |
|
|
|
|
Name : |
Mr. Manish Solanki |
|
Designation : |
Marketing |
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|
|
|
Name : |
Mr. Neer |
|
Designation : |
Commercial Coordinator |
|
|
|
|
Name : |
Mr. Aman Jain |
|
Designation : |
Assistant General Manager Sales |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Panasonic Holding (Netherland) BV, Netherland |
812800000 |
47.84 |
|
Panasonic Asia Pacific Pte. Limited, Singapore |
885999999 |
52.16 |
|
|
|
|
|
Total |
1698800000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing, trading
and marketing consumer electronics goods, automotive products and welding
equipment |
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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 |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
·
Standard Chartered Bank, 19, Rajaji Salai,
Chennai - 600001, Tamilnadu, India |
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Facilities : |
Cash Credit and working capital demand loans from banks
carry interest ranging between 9%-13% p.a., computed on a daily basis on the actual
amount utilized and are repayable on demand. Secured loans are secured by a
pari-passu first charge on all stocks and book debts of the Company. In
addition, the banks have a lien upon and rights of set off against all
monies, securities and other property of the Company, now or hereafter, in
possession of or on deposit with the banks, whether held in a general or
special account or deposit or safe keeping or otherwise. |
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower BDIF, Cyber City, Phase 2,
Mahatma Gandhi Road, Numgambakkam, Chennai-600034, Tamilnadu, India |
|
Tel. No.: |
91-44-39145000 |
|
Fax No.: |
91-44-39145999 |
|
Email: |
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PAN No: |
AAAFB9852F |
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Memberships : |
-- |
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Collaborators : |
-- |
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|
Ultimate Holding Company : |
·
Panasonic Corporation, Japan |
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|
Holding Company : |
·
Panasonic Asia Pacific Pte. Limited |
|
|
|
|
Fellow Subsidiary Company : |
·
Panasonic Consumer Marketing Asia Pacific (PCMAP) ·
Panasonic AVC Networks India Company Limited U74899DL1996PLC077330 ·
Anchor Electricals Private Limited U31200MH1981FTC128292 ·
Panasonic Energy India Company Limited L31400GJ1972PLC002091 ·
Panasonic Automotive Systems Asia Pacific
(Thailand) Company Limited ·
Panasonic Industrial Asia Pacific Pte. Limited ·
Panasonic AVC Networks Johor Malaysia SDN BHD, Malaysia ·
Panasonic Appliances India Company Limited, India
·
Panasonic Manufacturing (Xiamen) Company Limited,
China ·
Sanyo Energy (Singapore) Corporation Private
Limited ·
Panasonic System Communications Company North
America ·
Panasonic Hong Kong Company limited, Hong Kong ·
Sanyo Electric Company Limited, Japan ·
Panasonic Automotive Systems Asia Pacific
(Thailand) Company Limited ·
Panasonic Energy (Thailand) Company Limited ·
Panasonic Storage battery, Japan ·
Panasonic Management (Thailand) Company Limited ·
Panasonic Procurement (Shanghai) Company Limited ·
Panasonic System Networks Company Limited ·
Panasonic consumer marketing Asia pacific ·
Panasonic Systems Asia pacific Pte.Limited ·
Panasonic logistics (Hong Kong) company Limited ·
Panasonic AVC networks Taiwan Company Limited ·
Panasonic marketing Middle East & Africa FZE ·
Panasonic Manufacturing Int. ·
Panasonic AVC networks Czech S.R.O. ·
Sanyo India Private Limited ·
Panasonic Taiwan Works Co, Taipei ·
Panasonic Marketing Europe GMBH ·
Sanyo Auto media SDN BHD , Malaysia ·
Pana sonic Appliances (Thailand) Company Limited ·
Panasonic environmental systems & engineering
company Limited ·
Panasonic factory solutions company Limited ·
Pana sonic Product ion technology company Limited
·
Panasonic Welding Systems company Limited ·
Panasonic AVC networks (Thailand) company Limited ·
Panasonic Eco solutions (Hong Kong) company
Limited ·
Pt. Panasonic Gobel Indonesia ·
Panasonic Excel International company Limited,
Japan ·
Panasonic Home Appliances (Hangzhou) company
Limited ·
Pana sonic manufacturing U.K. Limited ·
Panasonic Mobile Communications Company limited ·
Panasonic R&D Center Vietnam Company Limited ·
Pana sonic Appliances Cold Chain (Thailand)
Company Limited ·
Panasonic Wanbao Appliances Compressor
(Guangzhou) Company Limited ·
Pana sonic Manufacturing Philippines Corporation ·
Pana sonic Appliances Vietnam Company Limited ·
Panasonic Welding Systems (Tangshan) Company
Limited ·
Panasonic Malaysia Sdn Bhd. ·
Panasonic Carbon India Company Limited ·
Panasonic Home Appliance (Thailand) Company
Limited ·
Panasonic Siew Sales (Thailand) Company Limited ·
Panasonic Manufacturing (Thailand) Company
Limited ·
Pt. Sanyo Energy Batam |
CAPITAL STRUCTURE
AFTER 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1698800000 |
Equity Shares |
Rs.10/- each |
Rs.16988.000 Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
773800000 |
Equity Shares |
Rs.10/- each |
Rs.7738.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
773800000 |
Equity Shares |
Rs.10/- each |
Rs.7738.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7738.000 |
7738.000 |
7738.000 |
|
(b) Reserves & Surplus |
(8677.704) |
(4864.110) |
(2422.023) |
|
(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) |
(939.704) |
2873.890 |
5315.977 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
124.590 |
58.212 |
33.945 |
|
Total Non-current
Liabilities (3) |
124.590 |
58.212 |
33.945 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
5900.000 |
4499.716 |
0.000 |
|
(b) Trade
payables |
6372.516 |
6996.323 |
6800.312 |
|
(c) Other
current liabilities |
729.824 |
2480.263 |
731.319 |
|
(d) Short-term
provisions |
57.907 |
68.900 |
62.412 |
|
Total Current
Liabilities (4) |
13060.247 |
14045.202 |
7594.043 |
|
|
|
|
|
|
TOTAL |
12245.133 |
16977.304 |
12943.965 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3758.635 |
4123.438 |
1054.485 |
|
(ii)
Intangible Assets |
93.791 |
128.128 |
23.489 |
|
(iii)
Capital work-in-progress |
152.821 |
65.079 |
456.649 |
|
(iv)
Intangible assets under development |
16.136 |
13.153 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
333.796 |
413.713 |
746.649 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4355.178 |
4743.511 |
2281.272 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3971.308 |
5515.286 |
4515.343 |
|
(c) Trade
receivables |
2070.940 |
3257.754 |
3154.963 |
|
(d) Cash
and cash equivalents |
345.775 |
830.279 |
2055.607 |
|
(e)
Short-term loans and advances |
576.886 |
482.134 |
284.325 |
|
(f) Other
current assets |
925.045 |
2148.340 |
652.455 |
|
Total
Current Assets |
7889.955 |
12233.793 |
10662.693 |
|
|
|
|
|
|
TOTAL |
12245.133 |
16977.304 |
12943.965 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales of products |
28046.006 |
27108.435 |
19342.121 |
|
|
|
Sale of services |
26.734 |
8.176 |
3.946 |
|
|
|
Other operating revenue |
2648.628 |
4402.137 |
3592.304 |
|
|
|
Other Income |
37.653 |
59.423 |
167.152 |
|
|
|
TOTAL |
30759.021 |
31578.171 |
23105.523 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
34562.728 |
33811.538 |
24983.983 |
|
|
|
|
|
|
|
|
|
PRIOR
PERIOD ITEMS |
0.000 |
(181.139) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(3803.707) |
(2414.506) |
(1878.460) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.887 |
27.581 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(3813.594) |
(2442.087) |
(1878.460) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(4.93) |
(3.16) |
(2.43)
|
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activities |
(433.100) |
(3346.272) |
3462,35 |
|
Net cash flows from operations |
NA |
(3430.125) |
486.040 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(31.50) |
(14.29) |
(15.04) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
4.05 |
(0.84) |
(0.35) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(6.28) |
1.57 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.60 |
0.87 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
7738.000 |
7738.000 |
7738.000 |
|
Reserves & Surplus |
(2422.023) |
(4864.110) |
(8677.704) |
|
Net
worth |
5315.977 |
2873.890 |
(939.704) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
4499.716 |
5900.000 |
|
Total
borrowings |
0.000 |
4499.716 |
5900.000 |
|
Debt/Equity
ratio |
0.000 |
1.566 |
(6.279) |
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 |
|
Total Income |
23105.523 |
31578.171 |
30759.021 |
|
|
|
36.669 |
(2.594) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
23105.523 |
31578.171 |
30759.021 |
|
Profit |
(1878.460) |
(2442.087) |
(3813.594) |
|
|
(8.13%) |
(7.73%) |
(12.40%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
Subject was incorporated on 14 July 2006. It is a fully owned subsidiary of Panasonic Asia Pacific Pte. Limited, Singapore. Subject is engaged in the business of manufacturing, trading and marketing consumer electronics goods, automotive products and welding equipment under the brand name Panasonic in India.
PERFORMANCE
The Company Sales for the year stood at Rs. 28072.700 million, out of which Sale of Service has increased by Rs. 18.558 Million as compared to the previous year. However, Company incurred a loss of Rs. 3813.593 Million which is in greater proportion as compared to loss of previous year. They apologize for any concern caused.
They have acted to extricate ourselves from this situation as soon as possible.
During the year, various programs were organized by the Company to make people aware about the new improved products of the Company, their importance in protecting our environment and in turn to the society as whole.
OPERATIONAL REVIEW
With the aim of achieving recovery, we launched Cross-Value Innovation 2015, a new 3-year midterm management plan. They are acting to speed up reforms with the aim of turning around its business results at the earliest possible stage and rebuilding its business competitiveness for the future. Since the founding of our Company in 1918, we have been carrying out all of their activities following their basic management philosophy, which commits us to making a contribution through their business operations to improving the lives of people around the world, and to the further progress of the society. They will pursue the concept of A Better Life A Better World, meeting the needs of each individual customer.
FUTURE PROSPECTS
The Panasonic has adopted and continues to focus on the overarching vision of becoming the No. 1 Green Innovation Company in the Electronics Industry, upto the 100th anniversary of its founding in 2018. In the last fiscal year, they have launched Green Transformation (GT 12), their three year mid-term management plan, as a first step towards realizing this vision.
For Panasonic, its important today is to become a company that can generate products and services with true value for customers by addressing the structural issues facing the group.
Since its founding, Panasonic has engaged in wide-ranging business activities.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Short Term Borrowings |
|
|
|
Working capital loans from banks |
5900.000 |
3999.716 |
|
|
|
|
|
Total |
5900.000 |
3999.716 |
CONTINGENT
LIABILITIES:
(Rs. in Million)
|
PARTICULARS |
31.03.2014 |
|
Claims against company not acknowledged as debt |
828.099 |
|
|
|
|
Total |
828.099 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Leasehold Improvements
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
|
44 |
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.