|
|
|
MIRA
INFORM REPORT
|
Report No. : |
494283 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
L G ELECTRONICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A Wing, Third Floor, D-3, District Centre Saket, New Delhi – 110017 |
|
Mob No.: |
91-9899302790 (Mr. Chetan Chadha) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
20.01.1997 |
|
|
|
|
Com. Reg. No.: |
55-220109 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1131.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32107DL1997PTC220109 |
|
|
|
|
IEC No.: |
0596063211 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GST No.: |
07AAACL1745Q1Z6 |
|
|
|
|
TIN No.: |
07230192357 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1745Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Air Conditioners, Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum Cleaners, Optical Disk Drive, Audio and Digital Video Display Systems, Monitors and GSM Mobiles and Importer of Raw Material. (Registered Activity and also Confirmed by Management) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum credit limit |
USD 54900000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of LG Electronics Inc., Korea. It is a
well-established and reputed company incorporated in the year 1997 having an
excellent track record. LG Electronics has been ranked 201st with
Global Fortune 500 Companies. LG Electronics India Private Limited manufacturers a range of consumer
durables: panel televisions, refrigerators, washing machines, ACs, microwave
ovens, mobile phones, personal computer monitors, water purifiers etc. As per Registrar of Companies the date of balance sheet (i.e.,
financial filed) is shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. As per available financials of 2016, the company possesses robust
financial profile marked by healthy net worth base along with debt free
balance sheet and good profit margin of the company. The rating also derives strength from its strong holding company and
its experience management. Further, the rating takes into consideration rich experience of its
promoters, long established track record and strong operating efficiency of
the company. Trade relations are fair. Business is active. Payments are seems to be
regular and as per commitment. In the view of established brand presence, the company can be
considered good for normal 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating=AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
19.06.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating=A1+ |
|
Rating Explanation |
Very Strong degree of safety and carry lowest
credit risk |
|
Date |
19.06.2017 |
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 27.02.2018
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 DECLINED BY
|
Name : |
Mr. Chetan Chadha |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9899302790 |
|
Date: |
25.02.2018 |
[91-9811354053] Number is Switched Off
[91-120-2560960] Number is ringing
LOCATIONS
|
Registered Office : |
A Wing, Third Floor, D-3, District Centre Saket, New Delhi – 110017,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9811354053 (Mr. Pradeep Panda) 91-9899302790 (Mr. Chetan Chadha) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office/
Factory 1 : |
Plot No. 51, Udyog Vihar, Phase-II, Surajpur-Kasna Road, Greater Noida - 201306, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2560960/ 2560940/ 2560900 |
|
Fax No.: |
91-120-2560921 |
|
|
|
|
Factory 2 : |
Plot No. A-05, MIDC Ranjangaon, Taluka Shirur, Pune – 412220, Maharashtra, India |
|
|
|
|
Service Center : |
20A, Shivaji Marg, Moti Nagar, New Delhi 110015, India |
|
|
|
|
Mumbai Showrooms : |
· 4th Floor, A Wing, Trade Star, J B Nagar, Andheri Kurla Road, Andheri [East], Mumbai – 400059, Maharashtra, India Tel. No.: 91-22-28352882 · Manoshi Complex, Shop No 1, 2 and 3, Plot No 5 and 6, Sector 3, Opposite Ghansoli Railway Station, Ghansoli, Mumbai – 400701, Maharashtra, India · 207/208, 2nd Floor, A Wing, 215 Atrium, Opposite Sangam Cinema, Andheri Kurla Road, Andheri [East], Mumbai – 400059, Maharashtra, India Tel. No.: 91-22-67108001 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Soo Cheol Kim |
|
Designation : |
Whole time Director |
|
Address : |
Dc-301 Del Court Tower-3, Jaypee Greens, Greater Noida, Gautam Buddha Nagar -201301, Uttar Pradesh, India |
|
Date of Appointment : |
01.02.2017 |
|
DIN No.: |
07723723 |
|
|
|
|
Name : |
Mr. Hi Chul Jang |
|
Designation : |
Whole time Director |
|
Address : |
Flat No. 902, Building E, Waterfront Condominium Kalyani Nagar, Pune - 411006, Maharashtra, India |
|
Date of Birth/Age : |
05.03.1965 |
|
Qualification : |
MBA, Bachelor |
|
Date of Appointment : |
25.02.2015 |
|
DIN No.: |
07104996 |
|
|
|
|
Name : |
Mr. Ki Wan Kim |
|
Designation : |
Managing Director |
|
Address : |
Apartment 6047, Hotel Crowne Plaza Greater Noida, Gautam Buddha Nagar-201306, Uttar Pradesh, India |
|
Date of Birth/Age : |
10.12.1959 |
|
Qualification : |
MBA |
|
Date of Appointment : |
27.08.2015 |
|
DIN No.: |
07271760 |
|
|
|
|
Name : |
Mr. Taewan Kim |
|
Designation : |
Whole time Director |
|
Address : |
C-4/1, Second Floor, Vasant Vihar, New Delhi - 110057, India |
|
Date of Birth/Age : |
04.02.1971 |
|
|
MBA |
|
Date of Appointment : |
23.01.2016 |
|
DIN No.: |
07412056 |
|
|
|
|
Name : |
Mr. Min Seok Kim |
|
Designation : |
Whole time Director |
|
Address : |
C-554, First Floor, Defence Colony, New Delhi - 110024, India |
|
Date of Appointment : |
07.07.2016 |
|
DIN No.: |
07560492 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Panda |
|
Designation : |
Company Secretary |
|
Address : |
H-4, Parsvnath Prestige, Plot No. 2, Sector 93A, Noida – 201306, Uttar
Pradesh, India |
|
Date of Birth/Age : |
04.06.1964 |
|
Date of Appointment : |
21.01.2002 |
|
PAN No.: |
AKAPP8069J |
|
|
|
|
Name : |
Mr. Chetan Chadha |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
LG Electronics Inc. |
|
113128726 |
|
Ashish Agrawal |
|
1 |
|
Vipin Gupta |
|
1 |
|
Umesh Dhal |
|
1 |
|
Rajeev Jain |
|
1 |
|
Deepak Bansal |
|
1 |
|
Vinod Kumar |
|
1 |
|
|
|
|
|
Total |
|
113128732 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Air Conditioners, Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum Cleaners, Optical Disk Drive, Audio and Digital Video Display Systems, Monitors and GSM Mobiles and Importer of Raw Material. (Registered Activity and also Confirmed by Management) |
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Products : |
|
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||||||||||||||||||||||
|
Brand Names : |
“LG” |
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Agencies Held : |
Not Available |
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|
Exports : |
Not Divulged |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Imports : |
Not Divulged |
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|
|
||||||||||||||||||||||
|
Terms : |
|
||||||||||||||||||||||
|
Selling : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
||||||||||||||||||||||
|
Customers : |
|
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|
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|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda-390015, Gujarat, India · Shinhan Bank D-6, 3rd Floor, South Extention Part-II, New Delhi-110049, India · State Bank of India ·
Citi Bank N.A. 5th Floor, DLF Center Parliament Street, New Delhi-110001, India · Kotak Mahindra Bank Limited G 35 Connaught Place, New Delhi - 110001, India |
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7 Floor, Building 10, Tower B, DLF Cyber City Complex, DLF
City Phase-II, Gurgaon - 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGPR2682B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding
company: |
LG Electronics, Korea |
|
|
|
|
Fellow Subsidiary company: |
· Hitachi-LG Data Storage Inc. · LG CNS India Private Limited, India (U72900KA2004PTC034298) · LG Display Co. Limited · LG Electronics (Levant) - Jordan · LG Electronics (Thailand) Co., Limited · LG Electronics Africa Logistics Fze · L G Electronics Gulf FZE · LG Electronics Mexico Monterrey S.A. De C.V. · LG Electronics Middle East Co. Limited · LG Electronics Morocco S.A.R.L. · LG Electronics S.A.(Pty) Limited · L G International Singapore Pte Limited · LG Electronics Tian Jin Appliances Co., Limited · PT. LG Electronics Indonesia · HI Logistics India Private Limited (U60220DL2012FTC235584) · Tai Zhou LG Electronics Refrigeration Co., Limited · LG Electronics Alabama, Inc. · LG-Shaker Co. Limited · LG Electronics Australia Pty, Limited · LG Electronics Dubai FZE · LG Electronics Deutschland GmbH · LG Electronics Overseas Trading - Kazakhstan · L G Electronics Ticaret A.S. · LG Electronics Ukraine Co., Limited · LG Chem Limited · LG Electronics Qinhuangdao Co., Limited · LG Hausys, Limited · LG Electronics (Huizhou) Inc · LG Electronics Nanjing Display Co Limited ·
L G Electronics Shen Yang Inc. · LG Innotek Yantai Co., Limited ·
LG Innotek.Co. Limited · PT. LG Innotek Indonesia · LG Electronics Singapore Pte Limited · LG CNS Co. Limited ·
LGEOT 'S Branch in almaty kazak ·
LG Electronics European Shared Service Center
B.V |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115000000 |
Equity Shares |
INR 10/- each |
INR 1150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113128732 |
Equity Shares |
INR 10/- each |
INR 1131.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
1131.000 |
1131.290 |
1131.290 |
|
(b) Reserves and Surplus |
18089.000 |
18154.710 |
14515.710 |
|
(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) |
19220.000 |
19286.000 |
15647.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
575.000 |
655.000 |
619.000 |
|
(d) long-term
provisions |
679.000 |
395.000 |
322.000 |
|
Total Non-current
Liabilities (3) |
1254.000 |
1050.000 |
941.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
1079.000 |
|
(b) Trade
payables |
18208.000 |
16986.000 |
13566.000 |
|
(c) Other
current liabilities |
2518.000 |
2132.000 |
2069.000 |
|
(d) Short-term
provisions |
10082.000 |
1191.000 |
1145.000 |
|
Total Current
Liabilities (4) |
30808.000 |
20309.000 |
17859.000 |
|
|
|
|
|
|
TOTAL |
51282.000 |
40645.000 |
34447.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8238.000 |
6644.000 |
6539.000 |
|
(ii)
Intangible Assets |
98.000 |
20.000 |
47.000 |
|
(iii) Tangible assets
capital work-in-progress |
124.000 |
152.000 |
151.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
733.000 |
848.000 |
731.000 |
|
(d)
Long-term
loans and advances |
3445.000 |
3484.000 |
2095.000 |
|
(e) Other
Non-current assets |
3.000 |
1.000 |
3.000 |
|
Total Non-Current
Assets |
12641.000 |
11149.000 |
9566.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
16371.000 |
17001.000 |
14096.000 |
|
(c) Trade
receivables |
8173.000 |
7163.000 |
7156.000 |
|
(d) Cash and bank
balances |
12478.000 |
3752.000 |
1885.000 |
|
(e)
Short-term loans and advances |
1223.000 |
1244.000 |
1422.000 |
|
(f) Other
current assets |
396.000 |
336.000 |
322.000 |
|
Total
Current Assets |
38641.000 |
29496.000 |
24881.000 |
|
|
|
|
|
|
TOTAL |
51282.000 |
40645.000 |
34447.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
131096.000 |
129086.000 |
|
|
Other Income |
|
800.000 |
500.000 |
|
|
TOTAL |
|
131896.000 |
129586.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
70595.000 |
67330.000 |
|
|
Purchases of
Stock-in-Trade |
|
19190.000 |
25059.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
416.000 |
(1408.000) |
|
|
Employee benefit expense |
|
5012.000 |
4643.000 |
|
|
CSR expenditure |
|
4.000 |
8.000 |
|
|
Other expenses |
|
21379.000 |
21010.000 |
|
|
TOTAL |
|
116596.000 |
116642.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
15300.000 |
12944.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
168.000 |
11.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
15132.000 |
12933.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1883.000 |
1958.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
13249.000 |
10975.000 |
|
|
|
|
|
|
|
Less |
TAX |
|
4465.000 |
3365.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
8784.000 |
7610.000 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
100.000 |
64.000 |
|
|
TOTAL EARNINGS |
|
100.000 |
64.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
39764.000 |
38433.000 |
|
|
Components and spare
parts |
|
923.000 |
911.000 |
|
|
Capital Goods |
|
13886.000 |
15199.000 |
|
|
TOTAL IMPORTS |
|
54573.000 |
54543.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
77.73 |
67.35 |
|
|
PARTICULARS |
|
|
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
|
|
115802.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
|
104436.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
11366.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
|
3.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
|
|
11363.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
|
|
2229.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
|
9134.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
2791.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
|
6343.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
|
16543.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
634.000 |
|
|
|
Interim Dividend |
|
|
8485.000 |
|
|
|
Tax on Dividend |
|
|
1442.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
|
12325.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
|
|
6716.000 |
|
|
|
Other Earnings |
|
|
62.000 |
|
|
TOTAL EARNINGS |
|
|
6778.000 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
56.07 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
16491.000 |
13348.000 |
10479.000 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
11524.000 |
8502.000 |
7229.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
22.76 |
20.25 |
NA |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
16.04 |
18.02 |
NA |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
74.02 |
67.11 |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.93 |
0.76 |
0.81 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.81 |
1.90 |
1.69 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.60 |
0.50 |
0.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.07 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.60 |
1.05 |
1.14 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.44 |
0.35 |
0.43 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
91.07 |
1176.73 |
3788.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
6.70 |
5.90 |
NA |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
17.13 |
18.72 |
18.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
45.70 |
39.46 |
40.54 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.25 |
1.45 |
1.39 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.72 |
0.62 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.37 |
0.47 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.95 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.25 |
1.45 |
1.39 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL DATA
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1131.290 |
1131.290 |
1131.000 |
|
Reserves & Surplus |
14515.710 |
18154.710 |
18089.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
15647.000 |
19286.000 |
19220.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1079.000 |
0.000 |
0.000 |
|
Total
borrowings |
1079.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.069 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Total Income |
115802.000 |
129586.000 |
131896.000 |
|
|
|
11.903 |
1.783 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Total Income |
115802.000 |
129586.000 |
131896.000 |
|
Profit/ (Loss) |
6343.000 |
7610.000 |
8784.000 |
|
|
5.48% |
5.87% |
6.66% |
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 |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G12837183 |
80034262 |
ICICI BANK LIMITED |
27/09/1999 |
02/09/2016 |
- |
1000000000.0 |
LANDMARKRACE COURCE
CIRCLEALKAPURIBARODAGU390015IN |
|
2 |
G12842571 |
80031198 |
STATE BANK OF INDIA |
13/04/1998 |
09/09/2016 |
- |
150000000.0 |
JAWAHAR VYAPAR BHAWAN, 11TH & 12TH
FLOOR1, TOLSTOY MARGNEW DELHIDL110001IN |
|
3 |
C73555161 |
80031196 |
CITI BANK N.A. |
16/01/1998 |
06/05/2008 |
01/12/2015 |
1600000000.0 |
5TH FLOOR , DLF CENTERPARLIAMENT STREETNEW
DELHIDL110001IN |
|
4 |
C71058622 |
80013609 |
STANDARD CHARTERED BANK |
14/11/2000 |
07/02/2013 |
17/11/2015 |
1250000000.0 |
CREDIT RISK CONTROLNARAIN MANZIL, 23
BARAKHAMBA ROADNEW DELHIDL110001IN |
|
5 |
C64080427 |
80032085 |
BANK OF AMERICA |
22/05/2006 |
01/06/2009 |
09/09/2015 |
1125000000.0 |
1ST FLOOR DLF CENTERSANSAD MARGNEW
DELHIDL110001IN |
|
6 |
C64647639 |
80028108 |
HSBC BANK LIMITED |
19/04/2004 |
30/05/2012 |
03/09/2015 |
1500000000.0 |
25 BIRLA HOUSE ,BARAKHAMBA ROADNEW
DELHIDL110001IN |
|
7 |
C52427366 |
10409452 |
SHINHAN BANK |
22/02/2013 |
15/03/2014 |
29/04/2015 |
1200000000.0 |
D-6, 3RD FLOORSOUTH EXTENTION PART-IINEW
DELHIDL110049IN |
|
8 |
C47874276 |
80031197 |
DEUTSCHE BANK |
19/04/2004 |
06/07/2009 |
03/03/2015 |
672400000.0 |
ECE HOUSE , GROUND FLOOR28 KASTURBA GANDHI
MARGNEW DELHIDL110001IN |
|
9 |
A14487870 |
10028921 |
THE BANK OF NOVA SCOTIA |
20/09/2006 |
- |
03/05/2007 |
490000000.0 |
DR. GOPAL DAS BHAWAN28 BARAKHAMBA ROADNEW
DELHIDL110001IN |
|
10 |
A13932454 |
80028051 |
ING VYSYA BANK LTD |
21/01/2003 |
- |
13/04/2007 |
500000000.0 |
G 35 CONNAUGHT PLACENEW DELHIDL110001IN |
BACKGROUND INFORMATION
LG Electronics India Private Limited (the Company) was incorporated on January 20, 1997 to manufacture and trade in Televisions (Flat Panel, Signage, Projector, Monitor TV, etc.), Air Conditioners, Refrigerators, Microwave Ovens, Washing Machines, Compressors, Vacuum Cleaners, Optical Disk Drive, Audio & Digital Video Display Systems, GSM Mobiles, Water Purifier, Air Purifier, Laptop and Security Camera. The manufacturing facilities of the Company are situated at Greater Noida in Uttar Pradesh and also in Ranjangaon near Pune in the State of Maharashtra. The Company is closely held with 113,128,726 shares held by LG Electronics Inc., South Korea and the balance 6 shares held by its nominees.
THE STATE OF
COMPANY AFFAIRS AND FUTURE OUTLOOK
During the year the Company recorded revenue growth of 2% and Profit growth of 15% (after Tax) as compared to previous financial year. Home appliances and Air Solution Division recorded revenue of INR 88130.000 Million whereas the Home Entertainment Division recorded revenue of INR 38340.000 Million.
The Company will continue to focus on all Business Segment to maintain its Market leadership.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
PRESS RELEASES
LG JOINS HANDS WITH
BAJAJ FINANCE TO OFFER PRODUCTS AT NO COST EMI
11.10.2017
KOLKATA: Bajaj Finance BSE 0.71 % Ltd, the lending arm of Bajaj Finserv, has partnered with LG Electronics India to launch an exclusive co-branded card LG Bajaj Finserv BSE 0.94 % EMI card. The card will allow customers to buy all LG products at no cost EMI option.
The card will allow customers to buy from over 20,000 outlets, around 700 LG
exclusive brand shops and 3000 outlets for smartphones. The card can also be
used to buy LG products across Bajaj Finance Ltd distribution network of 50,000
outlets. The no cost EMI option will be available to customers buying LG products
on a minimum billing of INR 7,000 and maximum up to INR 0.200 million.
Bajaj Finance MD Rajeev Jain said the co-branded card is a disruptive proposition that will facilitate stronger customer convenience and stimulate higher spends.
LG Electronics India MD Kim Ki Wan said the offering will enable the company to
strengthen relationship with consumers as now they will be able to buy the best
of various products at easy payment options.
Bajaj Finance currently has 9.8 million EMI card user with a 30% market share in the consumer finance business. LG Electronics, on the other hand, has dominant leadership in the Indian white goods space. Around 40% of consumer durable purchases in India is led through consumer finance.
LG ELECTRONICS INDIA
EXPECTS 20% RISE IN SALES THIS YEAR
19.07.2017
KOCHI: LG Electronics India is expecting a 20% growth in sales in the current year, which will be higher than industry growth of consumer durables.
Unveiling the products for the Onam festival, Sanjiv Agarwal, sales head, said
the company is expecting to touch a turnover of INR 22,0000.000 million this
year (January to December). "The first six months have been really good.
Post GST introduction, sales have picked up and it is as much as that seen
during Diwali festival period," he said. The company enjoys an average
market share of 30% in consumer durables in the country, he added.
In Kerala, the company is targeting a sales of INR 5500.000 million during the Onam season. This is 20% higher than the same period in the previous year. For the whole year the company is expecting a total sales of INR 12000.000 million in the state. Kerala accounts for 5% of its national sales.
"All the products of the company have been well researched and are made
for the Indian market. Better technology differentiates these products from
others. Though it may the priced higher, our new range of appliances will
consume less power and thus will be value for money in the long term,"
Agarwal said.
He said the company may not go for a third manufacturing
unit as the current two production facilities have the required capacity to
meet the demand.
LG ELECTRONICS POSTS 2016 OPERATING PROFIT OF $1.2 BILLION
Jan 24, 2017
SEOUL: South Korea's LG Electronics Inc reported on Tuesday a 2016 operating profit
of 1.34 trillion won ($1.15 billion), up 12 percent from the previous year.
In the fourth quarter, the company
swung to an operating loss of 35 billion won, according to Reuters
calculations, in line with its guidance earlier this month.
LG ELECTRONICS INDIA HIRES SNAPDEAL’S SAIF LQBAL
Jun 05, 2016
KOLKATA: LG Electronics
India has hired Saif Iqbal, Snapdeal's
business head for electronics, to shape its ecommerce strategy by December,
people aware of the development said.
The country's largest white goods maker plans to launch televisions, white
goods and smartphones exclusively for online sales so as to minimise conflict
with brick-and-mortar retailing, they said.
Till the time this article was published, LG
Electronics India had not responded to ET's email query in this regard sent on
Friday.
Two senior industry executives said LG is one of the last big consumer
electronics brands in the country to adopt the online route.
They said LG was wary of this since it did not want to antagonise the
brick-and-mortar channel, but with online predatory discounting fizzling out
and ecommerce accounting for almost 30% of smartphone and 10% of television
sales, the company has decided to flesh out a full-fledged strategy.
"LG plans to partner with leading ecommerce sites like Amazon, Snapdeal
and Flipkart
so that it can launch online exclusive models, control price and the service
experience," said one of the executive cited earlier. "It also wants
to float brand stores in these online marketplaces like the way Samsung
has done. While there may be some products which will be sold both online and
offline, the brand will ensure there are no arbitrary discounts."
Iqbal, an alumnus of Indian School
of Business and IIT Roorkee, had built Snapdeal's presence in white goods, consumer
electronics and computers.
Last week, LG entered into an exclusively partnership with Flipkart for online
sales of its latest flagship smartphone, G5.
LG India managing director Ki Wan Kim had recently told ET that he had
purchased LG products from leading ecommerce sites and seen that there are
issues with installation and service. He had said the company will venture into
online sales if it becomes a mainstream sales channel.
LG promotes online sales from its own portal and has even issued an advisory
saying it does not vouch for authorised service support and guarantee
originality of the product purchased from any other website.
While LG has been a long leader in refrigerators, washing machines and
microwave ovens, last December the company overtook Sony to become No 2 in the
Indian flat-panel TV segment.
The company is looking to build its smartphone business.
LG's growth rate in India had been impacted due to low sales of white goods. In
2014-15, the company grew by 12% after three years of no growth. Financial
results for 2015-16 are yet to be declared.
LG ELECTRONICS REJIGS INDIA LEADERSHIP IN BID TO SPUR GROWTH
Dec 14, 2016
KOLKATA: LG Electronics India has rejigged its senior leadership team, as it tries to spruce up business after a year of dismal growth and when white goods sales are forecast to remain muted at least for another quarter due to demonetisation. The country's largest maker of refrigerators and washing machines has made changes in about 30 key roles at its local headquarters as well as regional and branch levels, apart from deciding to decentralise the marketing function to focus on localised initiatives and consumer promotions, two senior industry officials said.
The Indian unit of South Korea's LG Electronics had in June decentralised the
sales function, breaking the market into two territories (India One which
includes the North and East, and India Two comprising the West and South) with
independent sales heads.
Amit Gujral, who is the head of mobile business marketing, has now been given
the additional responsibility of chief marketing officer of the company.
The erstwhile chief marketing officer, Niladri Dat ta, has been moved to a
sales role to head the washing machine business, where LG of late is facing
challenges from rival Samsung,
which has increased market share.
Rishi Tandon, who was the head of the Delhi region, has been made the head of
home entertainment business to lead sales for LED televisions and
home theatres. The earlier head for LED TV business, Anuj Ayodhyawasi, has been
made the head for the refrigerator business. These changes will be effective
January. When contacted, an LG India spokesperson said the realignment will
help the company strengthen market leadership and drive growth.
"LG India has always been committed to improving operational efficiencies
and occasionally revises portfolios to best suit the talent and skills of its
team. At LG, our aim is to continuously grow and develop our human
resources," the spokesperson said. LG India has also beefed up its
regional teams. Manish Raj, who was the head for washing machines, has become
part of the India One leadership team.
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.66 |
|
|
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RUP |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
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