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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

501427

Report Date :

03.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

PANASONIC INDIA PRIVATE LIMITED (w.e.f. 03.10.2008)

 

 

Formerly Known As :

PANASONIC SALES AND SERVICES INDIA PRIVATE LIMITED

 

 

Registered Office :

12th Floor, Ambience Tower, Ambience Island, NH-8, Gurugram – 122002, Haryana

Tel. No.:

91-44-61089300

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

14.07.2006

 

 

Com. Reg. No.:

05-064080 [New]

18-060554 [Old]

 

 

Capital Investment / Paid-up Capital :

INR 16988.000 Million

 

 

CIN No.:

[Company Identification No.]

U51395HR2006PTC064080 [New]

U51395TN2006PTC060554 [Old]

 

 

IEC No.:

0406014027

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEP08735G

 

 

GSTN :

[Goods & Service Tax Registration No.]

06AADCP9391B1ZE

 

 

PAN No.:

[Permanent Account No.]

AADCP9391B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in Manufacturing, Trading and Marketing Consumer Electronics Goods, Automotive Products and Welding Equipment [Registered Activity]

 

 

No. of Employees :

Information denied by the management

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Maximum Credit Limit :

USD 20000000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Panasonic India Private Limited is a step down subsidiary of “Panasonic Corporation, Japan: and was incorporated in the year 2006.

 

The company is engaged in the business of manufacturing, trading and marketing consumer electronics goods, automotive products and welding equipment.

 

Management has failed to file its financials with the Registrar of Companies for the FY 2017.

 

For the financial year 2016, the company has achieved revenue growth of 23.71% as compared to the previous year but has incurred operational loss.

 

The moderate financial risk profile of the company is marked by negative reserve base along with average debt balance sheet profile.

 

Rating also takes into account the strong financial and managerial support that company receives from its ultimate holding entity backed by its well experienced management team along with its established market position.

 

Payments are reported to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings 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

 

Country Name

Previous Rating

(31.03.2017)

Current Rating

(30.06.2017)

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 31-03-2016.

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 03.04.2018.

 

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

 

INFORMATION DENIED

 

Management Non-Cooperative (Tel. No.: 91-124-4683800)

 

 

LOCATIONS

 

Registered Office :

12th Floor, Ambience Tower, Ambience Island, NH-8, Gurugram – 122002, Haryana, India

Tel. No.:

91-44-61089300

91-124-4871300 / 4683800

Fax No.:

91-124-4751333

E-Mail :

supriya.dutta@in.panasonic.com

contact.pi@in.panasonic.com

Website :

http://www.panasonic.com

 

 

Consumer Sales Division :

First Floor, ABW Tower, IFFCO Chowk, Sector 25, Gurugram – 122001, Haryana, India

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Daizo Ito

Designation :

Wholetime 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. Manish Sharma

Designation :

Director

Address :

H. No. C-451, C Block Gate No. 1 Sushant Lok-1, Gurugram – 122001, Haryana, India

Date of Birth/Age :

03.08.1972

Date of Appointment :

01.04.2013

DIN No.:

06549914

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U32109DL1992NPL049974

CONSUMER ELECTRONICS AND APPLIANCES MANUFACTURERS ASSOCIATION

22/02/2017

-

 

 

Name :

Mr. Masaaki Hirano

Designation :

Director

Address :

Hyatt Place, Gurgaon Udyog Vihar, 15/1 Old Delhi-Gurgaon Road, Sector 18 Gurugram – 122022, Haryana, India

Date of Birth/Age :

16.03.1965

Date of Appointment :

01.09.2014

DIN No.:

06961963

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74899HR1994PTC066310

PANASONIC CONSUMER INDIA PRIVATE LIMITED

22/09/2015

-

U74899DL1996PLC077330

PANASONIC AVC NETWORKS INDIA COMPANY LIMITED

29/09/2015

-

 

 

Name :

Mr. 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. Shigeto Yuasa

Designation :

Director

Address :

B 61, Park Place, DLF Phase 5 Landmark: Near Golf Course Road, Gurgaon – 122001, Haryana, India

Date of Appointment :

01.05.2016

DIN No.:

07506476

 

Note: i) Mr. Toru Hasegawa resigned on 30th December 2015 and Mr. Naoyuki Kobayashi resigned on 01.6.2016.

           ii) As per our previous database, Mr. Hiroyuki Shibutani, was the director of the company, however, they does not appear in the current government registry records and the same could not be confirmed with the management as well.

 

 

KEY EXECUTIVES

 

Name :

Mr. Manish Sharma

Designation :

Chief Executive Officer (KMP)

Address :

H. No. C-451, C Block Gate No. 1 Sushant Lok-1, Gurugram – 122001, Haryana, India

Date of Birth/Age :

03.08.1972

Date of Appointment :

01.04.2016

PAN No.:

APDPS0110H

 

 

Name :

Ms. Supriya Dutta

Designation :

Company Secretary

Address :

10/2, First Floor Old Rajinder Nagar, New Delhi – 110060, India

Date of Appointment :

01.09.2016

PAN No.:

ANTPD8935H

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

No. of Shares

Panasonic Holdings (Netherlands) B.V.

 

936119999

Panasonic Asia Pacific Pte. Limited

 

858780001

 

 

 

Total

 

1794900000

 

AS ON 19.05.2017

 

Names of Allottees

No. of Shares

Panasonic Holdings (Netherlands) B.V.

 

15000000

 

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 20.09.2017

 

Category

Percentage

Promoters- Body corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in Manufacturing, Trading and Marketing Consumer Electronics Goods, Automotive Products and Welding Equipment [Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Sale of Air conditioners

8415

Trading of LCD Televisions

8428

Trading of Mobile Phones

8517

 

  • Electronics Goods
  • Automotive Products
  • Welding Equipment

 

 

Brand Names :

“PANASONIC”

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

Standard Chartered Bank

Branch :

19 Rajaji Salai, Chennai – 600001, Tamilnadu, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2016

As on

31.03.2015

LONG TERM BORROWING

 

 

Long-term maturities of finance lease obligations

24.034

6.206

 

 

 

Total

24.034

6.206

 

Auditors :

 

Name :

B S R and Company LLP

Chartered Accountants

Address :

Building No. 10, 8th Floor, Tower B, DLF Cyber City, Phase II , Gurugram – 122002, Haryana, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFB9852F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Panasonic Asia Pacific Pte. Limited, Singapore

 

 

Ultimate Holding Company : [As on 31.03.2016]

Panasonic Corporation, Japan

 

 

Fellow Subsidiary Company : [As on 31.03.2016]
  • Panasonic AVC Networks Johor Malaysia Sdn Bhd, Malaysia
  • Anchor Electricals Private Limited

U31200MH1981FTC128292

  • Panasonic Avc Networks India Company Limited

U74899DL1996PLC077330

  • Panasonic Avc Networks Taiwan Company Limited, Taiwan
  • Panasonic Taiwan Company Limited, Taiwan
  • Panasonic Appliances India Company Limited

U30007TN1988PLC016184

  • Panasonic Manufacturing (Xiamen) Company Limited, China
  • Sanyo Energy (Singapore) Corporation Pte. Limited, Singapore
  • Panasonic Hong Kong Company Limited, Hong Kong
  • Panasonic Automotive Systems Asia Pacific (Thailand) Company Limited, Thailand
  • Panasonic Energy (Thailand) Company Limited, Thailand
  • Panasonic Electronic Devices, Thailand
  • Panasonic Industrial Devices, Thailand
  • Panasonic Management (Thailand) Company Limited, Thailand
  • Panasonic Procuremen (Shanghai) Company Limited, China
  • Panasonic System Networks Company Limited, Japan
  • Panasonic Procurement Asia Pacific Pte Limited, Singapore
  • Panasonic Procurement Malaysia Sdn Bhd, Malaysia
  • Panasonic Procurement(Hong Kong) Company Limited, Hong Kong
  • Panasonic Consumer Marketing Asia Pacific, Singapore
  • Panasonic Systems Asia Pacific Pte. Limited, Singapore
  • Panasonic System Solutions Asia Pacific, Singapore
  • Panasonic Marketing Middle East & Africa FZE, South Africa
  • Pana sonic Appliances(Thailand) Company Limited, Thailand
  • Panasonic Appliances Cold Chain (Thailand) Company Limited, Thailand
  • Panasonic Automotive Systems Malaysia Sdn. Bhd., Malaysia
  • Panasonic Eco Solutions Asia Pacific, Singapore
  • Panasonic Manufacturing U.K. Limited, United Kingdom
  • Panasonic System Comunications Asia Pacific, Singapore
  • Panasonic Welding Systems Company Limited, Japan
  • Panasonic Marketing Europe Gmbh, Japan
  • Panasonic Siew Sales(Thailand) Company Limited, Thailand
  • Panasonic System Networks Malaysia Sdn. Bhd., Malaysia
  • Panasonic Wanbao Appliances Compressor (Guangzhou) Company Limited, China
  • Panasonic Corporation Avc Networks Company Systems Business Group, Japan
  • Panasonic Appliance Air-Conditioning, Malaysia
  • Panasonic Avc Networks Kuala Lumpur Malaysia Sdn. Bhd., Malaysia
  • Panasonic Corporation (Components and Device , Procurement Company), Japan
  • Panasonic Automotive Systems Malasiya, Malaysia
  • Pt.Sanyo Energy Batam, Indonesia
  • Sanyo Electric Company Limited, Japan
  • Sanyo Energy Corp. Pte. Limited, Singapore
  • Panasonic Appliance Air-Conditioning Malaysia Sdn Bhd, Malaysia
  • Panasonic Excel International Company Limited, Japan
  • Panasonic Welding Systems (Tangshan) Company Limited, China
  • Panasonic R&D Center Vietnam Company Limited, Vietnam
  • Panasonic Appliances Air-Conditioning R&D Malaysia Sdn. Bhd., Malaysia
  • Panasonic Business Services Company Limited, Japan
  • Panasonic Industrial Devices Sales Asia, Singapore
  • Panasonic Manufacturing Philippines Corporation, Philippines
  • Panasonic Malaysia Sdn. Bhd., Malaysia
  • Panasonic Industrial Devices Semiconductor Sales, Singapore
  • Panasonic Production Engineering Company Limited, Japan
  • Panasonic Storage Battery, Japan
  • Panasonic Cloud Management Service Europe B.V., Germany
  • Panasonic Avc Networks Shangdong Company Limited, China
  • Panasonic Air Conditioning and Refrigeration System Company Limited, Japan
  • Panasonic Marketing Sales Taiwan Company Limited, Taiwan
  • Panasonic Singapore, Singapore
  • Sanyo Digital Design (Shenzhen) Limited, China
  • Panasonic Energy India Company Limited

L31400GJ1972PLC002091

  • Sanyo Electric (Hongkong) Limited, Hong Kong
  • Panasonic Home Appliance (Thailand) Company Limited
  • Panasonic Carbon India Company Limited

L29142TN1982PLC009560

  • Panasonic Factory Solution Asia Pacific Pte Limited, Singapore
  • Minda Storage Batteries Private Limited

U35900DL2011PTC228383

  • Panasonic Eco Solutions (Hong Kong) Company Limited, Hong Kong
  • Panasonic Industrial Devices Automation Sales Asia, Singapore
  • Panasonic Industrial Devices Automation Controls Sales Asia Pacific, Singapore
  • Panasonic Management Malaysia Sdn Bhd, Malaysia
  • Panasonic Vietnam Company Limited, Vietnam
  • Panasonic Holding (Netherlands) B.V., Netherlands
  • Pt. Panasonic Gobel Indonesia, Indonesia
  • Panasonic Appliances R&D Center, Thailand

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000000

Equity Shares

INR 10/- each

INR 20000.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1809900000

Equity Shares

INR 10/- each

INR 18099.000 Million

 

 

 

 

 

 

AS ON 31.03.2016

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000000

Equity Shares

INR 10/- each

INR 20000.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1698800000

Equity Shares

INR 10/- each

INR 16988.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2016

31.03.2015

31.03.2014

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

16988.000

16988.000

7738.000

(b) Reserves & Surplus

(10070.291)

(9638.102)

(8677.704)

(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)

6917.709

7349.898

(939.704)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

24.034

6.206

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

270.982

198.516

124.590

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

295.016

204.722

124.590

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

5900.000

(b) Trade payables

8294.845

6646.191

6372.516

(c) Other current liabilities

2103.549

2054.009

729.824

(d) Short-term provisions

185.677

99.202

57.907

Total Current Liabilities (4)

10584.071

8799.402

13060.247

 

 

 

 

TOTAL

17796.796

16354.022

12245.133

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3596.553

3577.177

3758.635

(ii) Intangible Assets

132.478

97.396

93.791

(iii) Capital work-in-progress

0.000

218.980

152.821

(iv) Intangible assets under development

0.898

28.466

16.136

(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

351.332

318.539

333.796

(e) Other Non-current assets

0.125

0.000

0.000

Total Non-Current Assets

4081.386

4240.558

4355.179

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

5133.995

4612.671

3971.308

(c) Trade receivables

4125.661

3093.284

2070.939

(d) Cash and cash equivalents

1413.007

1546.246

345.775

(e) Short-term loans and advances

527.018

889.845

576.887

(f) Other current assets

2515.729

1971.418

925.045

Total Current Assets

13715.410

12113.464

7889.954

 

 

 

 

TOTAL

17796.796

16354.022

12245.133

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

 

Income

49078.170

39672.804

30721.368

 

 

Other Income

108.156

117.646

37.653

 

 

TOTAL                                               

49186.326

39790.450

30759.021

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

3484.501

3218.979

2214.738

 

 

Purchase of Stock-in-trade

34277.400

27281.684

19826.663

 

 

Changes in Inventories of finished goods, work-in-progress and stock-in-trade

(564.524)

(613.668)

1674.356

 

 

Employee Benefits Expenses

2434.797

2304.547

1943.052

 

 

Other Expenses

9365.245

7731.641

7566.863

 

 

TOTAL                                               

48997.419

39923.183

33225.672

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

188.907

(132.733)

(2466.651)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

2.904

277.756

477.787

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

186.003

(410.489)

(2944.438)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

605.073

553.411

859.269

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

(419.070)

(963.900)

(3803.707)

 

 

 

 

 

Less

TAX                                                                 

13.119

(3.502)

(9.886)

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX                

(432.189)

(960.398)

(3813.593)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

F.O.B. Value of Exports

4060.380

1331.546

NA

 

TOTAL EARNINGS

4060.380

1331.546

NA

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

2843.325

3022.400

NA

 

 

Stores & Spares

12.872

17.848

NA

 

 

Capital Goods

18.334

50.129

NA

 

TOTAL IMPORTS

2874.531

3090.377

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(0.25)

(0.77)

--

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

10.658

3.302

0.000

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

209.769

(1395.750)

(421.532)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

30.68

28.46

24.60

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

11.90

12.83

14.83

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

80.18

79.53

105.53

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.04

(0.03)

(0.62)

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.05

(0.03)

(0.61)

 

 

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.60

0.54

1.07

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.00

(6.28)

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.53

1.20

(13.90)

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.54

0.53

(4.28)

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

65.05

(0.48)

(5.16)

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

Net Profit Margin

((PAT / Sales) * 100)

%

(0.88)

(2.42)

(12.35)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(2.43)

(5.87)

(30.98)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(6.25)

(13.07)

403.73

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

1.30

1.38

0.60

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.81

0.85

0.30

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.39

0.45

(0.08)

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.00

0.00

0.76

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.30

1.38

0.60

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

7738.000

16988.000

16988.000

Reserves & Surplus

(8677.704)

(9638.102)

(10070.291)

Share Application money pending allotment

0.000

0.000

0.000

Net worth

(939.704)

7349.898

6917.709

 

 

 

 

long-term borrowings

0.000

6.206

24.034

Short term borrowings

5900.000

0.000

0.000

Total borrowings

5900.000

6.206

24.034

Debt/Equity ratio

(6.279)

0.001

0.003

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

30721.368

39672.804

49078.170

 

 

29.137

23.707

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

30721.368

39672.804

49078.170

Profit

(3793.821)

(960.398)

(432.189)

 

(12.35%)

(2.42%)

(0.88%)

 

 

 

 

 

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

No

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

 

 

 

Note: Registered office has been shifted from 6th Floor, Spic Building, Annexe No.88, Mount Road, Guindy, Chennai – 600032, Tamilnadu, India to present address w.e.f. 12.04.2016.

 

 

COMPANY OVERVIEW

 

Subject was incorporated on 14 July 2006. It is a subsidiary of Panasonic Asia Pacific Pte. Limited, Singapore. The Company 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. 45020.60 million, out of which Sale of Service has increased by Rs. 62,080,229 as compared to the previous year. However, Company incurred a loss of Rs. 432,189,251 which has reduced as compared to loss of previous year. We apologize for any concern caused.

 

 

INDEX OF CHARGE:

 

Charges Registered

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

B80339815

10028360

Standard Chartered Bank

06/12/2006

24/03/2010

27/06/2013

500000000.0

19Rajaji SalaiChennaiTN600001IN

 

 

FIXED ASSETS:

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipment
  • Leasehold improvements

 

 

PRESS RELEASE

 

PANASONIC INDIA PLANS BIG PUSH IN SMARTPHONE MARKET DOMINATED BY CHINESE, SOUTH KOREAN BRANDS

 

Panasonic Corp.’s Indian subsidiary will invest 1.5 billion rupees ($23.4 million) in its mobility division in the current fiscal year ending next March to step up efforts to improve its smartphone business in Asia’s third-largest economy, according to senior company officials.

 

Panasonic India Private Limited has planned a major marketing campaign across print, television, radio and social media to boost brand recognition in a market dominated by Chinese and South Korean competitors.

 

“India happens to be an important market for our mobile phone business as we look to expand this business in other different geographies in future,” said Manish Sharma, president of Panasonic India.

 

The local arm has set a revenue target of over 16 billion rupees from its mobility division with a plan to sell 3 million handsets in the year to next March.

 

Pankaj Rana, head of the mobility division, told NNA that the company has a market share of just over 1 percent. “We have 400-plus sales team members now, (and) over 100 members in various functions like design, research and development, testing, etc. in our division,” said Rana.

 

According to research firm India Ratings & Research under the U.S. Fitch Ratings group, Chinese smartphone brands currently dominate the Indian market with a 51 percent market share on the back of their substantial advertising spending.

 

“The increasing strength of Chinese mobile phone manufacturers in the smartphone market is reflected in the 3.4 times growth in their market share to 51 percent in the January-March period of 2017 from a year earlier in the Indian market,” said the research firm. South Korea’s Samsung Group remained the market leader with a 28 percent share during the period, it said.

 

Tarun Pathak, analyst at Counterpoint Technology Market Research, said, “The Japanese company needs to help create its mobility division with its own identity as the mobile phone segment is an entirely different market. It can’t depend on the brand’s halo effect alone to drive its growth.”

 

 

 

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 records 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

INR

US Dollar

1

INR 65.04

UK Pound

1

INR 92.28

Euro

1

INR 80.62

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

JYO

 

 

 

SCORE FACTORS

 

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

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

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.