|
|
|
MIRA
INFORM REPORT
|
Report No. : |
496153 |
|
Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ANCHOR ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
ANCHOR ELECTRICALS LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, B Wing, I-Think Techno Campus, Pokhran Road No.
2, Thane (West), Thane - 400067, Maharashtra |
|
Tel. No.: |
91-22-30418888 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
02.04.1981 |
|
|
|
|
Com. Reg. No.: |
11-128292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 4433.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH1981FTC128292 |
|
|
|
|
IEC No.: |
0305037714 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA2190C |
|
|
|
|
GST No.: |
27AAECA2190C1Z3 |
|
|
|
|
TIN No.: |
27850337865 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Marketer of Electrical Switches and Accessories, Wires, Luminaries and Fans. [Registered Activity] |
|
|
|
|
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
maximum credit limit |
USD 46000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Panasonic Corporation, Japan” and was incorporated in the year 1981. Management of the company has not filed its financials of 2017 with government department. As per available financials of 2016, the company has increased in its revenue from operations but reported losses. However, the company has sound financial base, healthy capital structure along with debt free balance sheet. Further, rating takes into consideration strong managerial and financial support received to the company from its holding entity. Rating also takes into account of promoter’s extensive experience in electrical products and solutions domain supported by well qualified management team, established track records of business operations along with market position and decent improvement in the revenue profile. Trade relations are reported as fair. Business is active. Payments are slow but correct. 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 (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
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 07.03.2018
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
MANAGEMENT NON-COOPERATIVE [91-22-42228888]
[91-22-30418888] out of service
LOCATIONS
|
Registered Office/ Regional Office : |
3rd Floor, B Wing, I-Think Techno Campus, Pokhran Road No.
2, Thane (West), Thane - 400067,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9320696293 [Mr. Vilas] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Other Regional Offices: |
Located at: 1. 4th Floor, Block " C ", Apeejay House, 15, Park Street, Kolkata - 700 016, West Bengal, India 2. 6th Floor, TDI Centre, District Jasola, New Delhi - 110 025, India 3.
No. 8/12, Prestige Nebula Building, 3rd Floor,
2nd Block, Infatry Road, Bangalore-560001, Karnataka, India |
|
|
|
|
Sales Offices : |
Located at: ·
Sambalpur ·
Pune ·
Navi
Mumbai ·
Nanded ·
Aurangabad ·
Kolhapur ·
Thane ·
Mumbai ·
Vadodara ·
Rajkot ·
Surat ·
Bhopal ·
Kashmir ·
Jaipur ·
Lucknow ·
Uttarakhand ·
Ludhiana ·
Udaipur ·
Varanasi ·
Rudrapur ·
Amritsar ·
Jodhpur ·
Ghaziabad ·
Kanpur ·
Allahabad ·
Mangalore ·
Mysore ·
Coimbatore ·
Madurai ·
Pondicherry · Hubli |
|
|
|
|
State Offices : |
Located at: EAST STATES · Assam · Bihar · Jharkhand · Odisha · West Bengal · Arunachal Pradesh · Manipur · Meghalaya · Mizoram · Nagaland · Sikkim ·
Tripura NORTH STATE: · Chandigarh · Himachal Pradesh · New Delhi · Haryana · Rajasthan · Uttar Pradesh · Uttarakhand · Punjab SOUTH STATE · Andhra Pradesh · Karnataka · Tamilnadu · Kerala · Telangana · Andaman and Nicobar Island · Lakshadweep · Pondicherry WEST STATE · Chhattisgarh · Gujarat · Goa · Madhya Pradesh · Maharashtra · Dadra and Nagar Haveli · Daman and Diu |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Takaki Oguri |
|
Designation : |
Director |
|
Address : |
Esentepe Mah Buyukdere Cad Block No 171 B Ic Kapi No.53 Metrocity B Istanbul Turkey 1782 Tr |
|
Date of Birth/Age : |
27.11.1962 |
|
Qualification : |
Course of Marketing and Trade in Facult of Commerce |
|
Date of Appointment : |
21.03.2015 |
|
DIN No.: |
01450431 |
|
|
|
|
Name : |
Mr. Dinesh Kumar Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
A 404 A Wing Rainbow, 4th Floor Raheja Vihar, Near Chandivali Studio Powa Mumbai - 400072, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1964 |
|
Qualification : |
Bachelor of Engineering and PGDM |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03006235 |
|
|
|
|
Name : |
Takashi Ogasawara |
|
Designation : |
Casual Vacancy Director |
|
Address : |
688-7-705 Huangjinchengdao Changning Shanghai – 200335, Cn |
|
Date of Birth/Age : |
28.12.1964 |
|
Qualification : |
Bachelor of Engineering |
|
Date of Appointment : |
05.06.2013 |
|
DIN No.: |
06596396 |
|
|
|
|
Name : |
Mr. Mitsuru Shirasawa |
|
Designation : |
Managing Director |
|
Address : |
Lakeside Chalet Marriott Executive Apartment 2 And 3 Near Chinmayanand Ashram Powai, Mumbai - 400072, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1962 |
|
Qualification : |
Bachelor of Engineering |
|
Date of Appointment : |
06.05.2015 |
|
PAN No.: |
GCPPS2872K |
|
DIN No.: |
07158438 |
|
|
|
|
Name : |
Mr. Kazuyoshi Kajita |
|
Designation : |
Whole-time Director |
|
Address : |
Lakeside Chalet Marriott Executive Apartments 2 and 3 B Near Chinmayanand Ashram Powai Mumbai - 400087, Maharashtra, India |
|
Date of Appointment : |
11.05.2016 |
|
DIN No.: |
07506645 |
|
|
|
|
Name : |
Mr. Toshihiro Oido |
|
Designation : |
Additional Director/ Wholetime Director |
|
Address : |
Gardenia G Flat No.604 Sixth Floor H No.2067 247 Dunes Cooperative Housin G Society Village Dunetha Nani Daman 396210, Dd In |
|
Date of Appointment : |
11.05.2016 |
|
DIN No.: |
07506664 |
|
|
|
|
Name : |
Takafumi Mizuno |
|
Designation : |
Wholetime Director |
|
Address : |
Lakeside Chalet Marriott Executive Apartments 2 And 3 B Chinmayanand Ashram Powai, Mumbai-400087, Maharashtra, India |
|
Date of Appointment : |
22.09.2016 |
|
DIN No.: |
07581668 |
|
|
|
|
Name : |
Hiroshi Miyasaki |
|
Designation : |
Wholetime Director |
|
Address : |
Lakeside Chalet Marriott Executive Apartments 2 And 3 B Near Chinmayanand Ashram Powai, Mumbai-400087, Maharashtra, India |
|
Date of Appointment : |
05.05.2017 |
|
DIN No.: |
07805731 |
|
|
|
|
Name : |
Mr. Vivek Sharma |
|
Designation : |
Managing Director |
|
Address : |
701 B Wing, Harshvardhan CHS 185, Saki Vihar Road, Andheri (East), Mumbai-400072, Maharashtra, India |
|
Date of Appointment : |
17.08.2017 |
|
DIN No.: |
07908997 |
NOTE:
No Company exists for
a Director
· Mr. Toshihide Arii
· Mr. Kiyoshi Kazuyoshi Otaki
· Mr. Toshio Omori
· Mr. Yoshiyuki Kato
·
Mr. Toshiki Itagaki
KEY EXECUTIVES
|
Name : |
Mr. Manoj Vasant Deshmukh |
|
Designation : |
Secretary |
|
Address : |
G 1002 Eternity, Teenhath Naka, Thane (West), Thane – 400604,
Maharashtra, India |
|
Date of Birth/Age : |
30.04.1964 |
|
Date of Appointment : |
29.11.2013 |
|
PAN No.: |
AHMPD2381G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Panasonic Corporation, Japan |
17643387 |
|
Panasonic Eco Solutions Switchgear Device Co. Limited, Japan |
1 |
|
|
|
|
Total |
17643388 |
|
Names of Shareholder (Preference Shares) |
No. of Shares |
|
Panasonic Corporation, Japan |
425670000 |
|
|
|
|
Total |
425670000 |
AS ON: 19.07.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Public - Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketer of Electrical Switches and Accessories, Wires, Luminaries and Fans [Registered Activity] |
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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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|
||||||||||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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|
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Bankers : |
Malad (West) Branch, Bank of India Building, S.V. Road, Malad (West), Mumbai-400064, Maharashtra, India |
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Panasonic Corporation, Japan |
|
|
|
|
Subsidiary Company
: |
Firepro Systems Private Limited [U28999KA2001PTC029937] |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000000 |
Equity Shares |
INR 10/- each |
INR 45000.000 Million |
|
500000000 |
Preference Shares |
INR 10/- each |
INR 5000.000 Million |
|
|
|
|
|
|
|
Total
|
|
INR 50000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17643388 |
Equity Shares |
INR 10/- each |
INR 176.434
Million |
|
425670000 |
Preference Shares |
INR 10/-
each |
INR 4256.700
Million |
|
|
|
|
|
|
|
Total
|
|
INR 4433.134
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4433.100 |
4433.100 |
4408.100 |
|
(b) Reserves and Surplus |
11715.300 |
13613.300 |
11409.500 |
|
(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) |
16148.400 |
18046.400 |
15817.600 |
|
|
|
|
|
|
(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 |
282.600 |
217.300 |
174.800 |
|
Total Non-current
Liabilities (3) |
282.600 |
217.300 |
174.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
247.900 |
|
(b) Trade
payables |
2977.000 |
2698.400 |
2119.400 |
|
(c) Other
current liabilities |
547.800 |
453.800 |
376.400 |
|
(d) Short-term
provisions |
255.500 |
624.600 |
540.400 |
|
Total Current
Liabilities (4) |
3780.300 |
3776.800 |
3284.100 |
|
|
|
|
|
|
TOTAL |
20211.300 |
22040.500 |
19276.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4830.600 |
4248.900 |
4414.300 |
|
(ii)
Intangible Assets |
29.600 |
43.800 |
36.300 |
|
(iii) Tangible assets
capital work-in-progress |
401.700 |
192.900 |
92.900 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
3663.700 |
2954.700 |
|
(c) Deferred tax assets (net) |
64.800 |
67.900 |
100.600 |
|
(d)
Long-term loans and advances |
544.700 |
1136.200 |
1006.600 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
2.400 |
|
Total Non-Current
Assets |
5871.400 |
9353.400 |
8607.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2966.200 |
2579.500 |
2434.200 |
|
(c) Trade
receivables |
5068.300 |
5908.400 |
4737.400 |
|
(d) Cash and
bank balances |
5233.300 |
3488.300 |
2824.900 |
|
(e)
Short-term loans and advances |
820.000 |
526.100 |
532.400 |
|
(f) Other
current assets |
252.100 |
184.800 |
139.800 |
|
Total
Current Assets |
14339.900 |
12687.100 |
10668.700 |
|
|
|
|
|
|
TOTAL |
20211.300 |
22040.500 |
19276.500 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
20899.900 |
18839.200 |
16188.700 |
|
|
Other Income |
410.800 |
383.800 |
286.600 |
|
|
TOTAL |
21310.700 |
19223.000 |
16475.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
9213.300 |
9523.800 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
2735.600 |
1258.600 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(499.300) |
(185.700) |
0.000 |
|
|
Employee benefit expense |
2062.600 |
1692.800 |
1659.200 |
|
|
Other expenses |
4335.800 |
3907.400 |
3555.900 |
|
|
CSR expenditure |
14.200 |
6.000 |
0.000 |
|
|
Exceptional items |
3663.700 |
2291.000 |
0.000 |
|
|
Variable cost |
0.000 |
0.000 |
9174.300 |
|
|
TOTAL |
21525.900 |
18493.900 |
14389.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(215.200) |
729.100 |
2085.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.800 |
23.400 |
27.400 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(228.000) |
705.700 |
2058.500 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
631.000 |
484.500 |
518.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(859.000) |
221.200 |
1540.100 |
|
|
|
|
|
|
|
Less |
TAX |
1039.000 |
588.400 |
262.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1898.000) |
(367.200) |
1277.900 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
29.700 |
50.800 |
NA |
|
|
TOTAL EARNINGS |
29.700 |
50.800 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
922.700 |
818.500 |
NA |
|
|
Components and spare
parts |
0.000 |
0.000 |
NA |
|
|
Capital Goods |
108.300 |
166.000 |
NA |
|
|
Others |
822.300 |
317.600 |
NA |
|
|
TOTAL IMPORTS |
1853.300 |
1302.100 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(107.58) |
(46.06) |
2.90 |
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 |
3698.800 |
1847.200 |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
3322.800 |
1328.500 |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
88.51 |
114.47 |
106.81 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.12 |
3.19 |
3.42 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
90.94 |
91.34 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
-0.07 |
0.28 |
0.86 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
-0.04 |
0.16 |
0.46 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.19 |
0.17 |
0.17 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.23 |
0.21 |
0.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.33 |
0.25 |
0.29 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(16.81) |
31.16 |
76.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(9.08) |
(1.95) |
7.89 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(9.39) |
(1.67) |
6.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(11.75) |
(2.03) |
8.08 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.79 |
3.36 |
3.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.01 |
2.68 |
2.51 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.80 |
0.82 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.79 |
3.36 |
3.25 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[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 |
4408.100 |
4433.100 |
4433.100 |
|
Reserves & Surplus |
11409.500 |
13613.300 |
11715.300 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
15817.600 |
18046.400 |
16148.400 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
247.900 |
0.000 |
0.000 |
|
Total
borrowings |
247.900 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.016 |
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 |
|
Sales |
16188.700 |
18839.200 |
20899.900 |
|
|
|
16.373 |
10.938 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
16188.700 |
18839.200 |
20899.900 |
|
Profit/ (Loss) |
1277.900 |
(367.200) |
(1898.000) |
|
|
7.89% |
(1.95%) |
(9.08%) |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4433.100 |
4433.100 |
|
(b) Reserves and Surplus |
|
11961.300 |
12385.900 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
Minority Interest |
|
2.700 |
2.600 |
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
16397.100 |
16821.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.100 |
0.100 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
296.700 |
232.100 |
|
Total Non-current
Liabilities (3) |
|
296.800 |
232.200 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
434.900 |
192.500 |
|
(b) Trade
payables |
|
4272.200 |
4127.200 |
|
(c) Other
current liabilities |
|
650.000 |
559.500 |
|
(d) Short-term
provisions |
|
271.800 |
639.000 |
|
Total Current
Liabilities (4) |
|
5628.900 |
5518.200 |
|
|
|
|
|
|
TOTAL |
|
22322.800 |
22572.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4891.500 |
4314.000 |
|
(ii)
Intangible Assets |
|
177.500 |
2092.600 |
|
(iii) Tangible assets
capital work-in-progress |
|
401.900 |
192.900 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
64.800 |
67.900 |
|
(d)
Long-term loans and advances |
|
656.700 |
1219.900 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
6192.400 |
7887.300 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2973.100 |
2588.500 |
|
(c) Trade
receivables |
|
5964.100 |
7133.600 |
|
(d) Cash and
bank balances |
|
5304.300 |
3499.400 |
|
(e)
Short-term loans and advances |
|
847.600 |
563.300 |
|
(f) Other
current assets |
|
1041.300 |
899.900 |
|
Total
Current Assets |
|
16130.400 |
14684.700 |
|
|
|
|
|
|
TOTAL |
|
22322.800 |
22572.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
22106.600 |
20332.500 |
|
|
Other Income |
|
430.900 |
435.200 |
|
|
TOTAL |
|
22537.500 |
20767.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
9991.800 |
10538.000 |
|
|
Purchases of
Stock-in-Trade |
|
2735.600 |
1258.600 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(499.300) |
(165.500) |
|
|
Employee benefit expense |
|
2255.700 |
1881.800 |
|
|
Other expenses |
|
4671.100 |
4249.400 |
|
|
Exceptional items |
|
2028.500 |
1980.800 |
|
|
CSR expenditure |
|
14.200 |
6.000 |
|
|
TOTAL |
|
21197.600 |
19749.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1339.900 |
1018.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
61.700 |
286.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1278.200 |
732.500 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
639.400 |
495.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
638.800 |
237.000 |
|
|
|
|
|
|
|
Less |
TAX |
|
1039.000 |
588.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(400.200) |
(351.400) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(22.68) |
(45.06) |
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B27845759 |
10136282 |
BANK OF INDIA |
19/12/2008 |
- |
24/11/2011 |
125000000.0 |
MALAD (WEST) BRANCH, BANK OF INDIA BUILDINGS.V. ROAD MALAD (WEST)MUMBAIMH400064IN |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Estimated
amount of contracts remaining to be executed on capital account and not
provided for |
395.900 |
409.400 |
CHANGE OF ADDRESS:
As claimed by the
management that the Registered address of the company has been shifted from “Steel
House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper Box, Mahakali
Caves Road, Andheri (East), Mumbai – 400093, Maharashtra” to the present
address.
CORPORATE
INFORMATION
Subject was incorporated on 2 April 1981 under the provisions of the Companies Act, 2013. The Company is principally engaged in manufacture and marketing of electrical switches and accessories, wires, luminaries and fans. The Company is a subsidiary of Panasonic Corporation, Japan.
CORPORATE REVIEW
A) Wiring Devices Division (WD BU):
BU’s put all efforts for achieving good results. Their Focus was on continuous growth and profitability etc. The BU’s aim was to achieve complete customer satisfaction by way of Better Material Availability, Improved Product Quality and New Product launches.
During the year, there was capacity expansion leading to increase in productivity and market share.
In the Financial Year 2016-17 the BU is aiming to launch new products like standalone automations, USB chargers, HDMI sockets, Energy saving functions like Sensors, LED foot Lights etc.
B) Wires Cables and Tapes Division
(WC&T BU):
This BU excelled organizational goal with a new mile stone in the year 2015-16 in the Production, Despatch, Sales surpassing the achievement of the previous year 2014-15. BU achieved highest ever production in the last 11 years in Cable Unit with 20.16% higher than the previous year.
Energy Management System (EMS) certification was awarded to Cable Unit at Daman. The process for obtaining said certificate for Kutch and Tape Unit at Kundi is in process.
This BU received Occupational Head and Safety Standard Certification (OSHAS) for Wire, Cable and Tape units from TUV Nord.
BU has started Kaizen activities (ANPS) across all three locations and implementing various projects.
Cable Unit Daman and Kutch have successfully received the endorsement of New IS 694:2010 standard from BIS for both FR & FRLSH Castigatory.
This BU is in the process of Developing LAN & Co axial Cable & Enhancing Capacity for MCC in existing infrastructure. Development of FRLSH Compound as per NEW IS 694-2010 Standard is in process and expected by Year end.
C) Lamps and Lighting Division (Lighting
BU):
BU excelled the organisation goal with new mile stone in the year 2015-16 both in conventional and LED business in terms of Production, new product development etc. which surpassed the achievement of the previous year.
D) Internal Air Quality Division (IAQ BU):
This BU focused on the business growth and profitability improvement. The BU succeeded to increase the sales by the expansion of product range and thereby improved the profitability.
In the Financial Year 2016-17, the BU aims to expand the business continuously by launch of the differentiated products etc. In near future, the BU will provide total solution in Indoor Air Quality (IAQ) to improve the life environment by utilizing efficient product and also expand IAQ business to overseas market.
E) Switchgear Division (SWG BU):
The BU launched new products in Uno Series. This BU achieved milestone in MCBs production.
Special drive for Kaizen activity carried out in Switchgear which yielded net savings.
This BU is planning to launch new products such as ROMA Plus Mini MCB, Uno changeover Switch enclosure, Uno MCCB, Uno ACCL, Uno Plastic DB, Uno Eco DB etc.
G) Solar Business (Solar BU):
This BU completed 5 EPC projects successfully in time during the year. The BU launched its Anchor Poly modules and started sales through SIER.
The BU received award for Best Innovative Product in Solar Rooftop Summit and also in ACETECH Design Wall for HT Modules.
This BU is planning to launch its 325 Wp and 330 Wp HIT Modules in the market.
PERFORMANCE OF THE COMPANY
During the year, the Company achieved a net sales of INR 20899.900 million against a net sales of INR 18839.200 million for the previous financial year ended 31st March, 2015. Due to impairment of its investment in its subsidiary, the Company has reported a net loss of INR 1898.000 million. The net loss for previous year was INR 367.200 million.
The Company achieved a net sales of INR 22106.600 million on Consolidated basis.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
· Leasehold improvements
· Motor Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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 64.99 |
|
UK Pound |
1 |
INR 89.91 |
|
Euro |
1 |
INR 80.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
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.