MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	501451
Report Date :	30.03.2018

IDENTIFICATION DETAILS

Name :	SCHNEIDER ELECTRIC INDIA PRIVATE LIMITED (w.e.f. 31.05.2001)

Formerly Known As :	SCHNEIDER ELECTRIC INDIA LIMITED (w.e.f. 01.07.1998) SCHNEIDER ELECTRIC INDIA PRIVATE LIMITED

Registered Office :	C-56, Mayapuri Industrial Area, Phase-II, New Delhi-110064
Tel. No.:	91-11-30189530

Country :	India

Financials (as on) :	31.03.2016

Date of Incorporation :	24.02.1995

Com. Reg. No.:	55-065815

Capital Investment / Paid-up Capital :	INR 7013.600 Million

CIN No.: [Company Identification No.]	U74899DL1995PTC065815

IEC No.: [Import-Export Code No.]	0595007317

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AABCS1624G

TIN No.:	07920179319

GSTN : [Goods & Service Tax Registration No.]	07AABCS1624G1ZP

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of manufacturing and trading in Industrial, electrical and electronic products. The Company also provides consulting and engineering, erection and commissioning and annual maintenance services for the above businesses. The Company is also engaged in research and development activities pertaining to the above businesses. (Registered Activity)

No. of Employees :	Information declined by the management

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is a subsidiary of “Schneider Electric Industries S.A.S.”, France. It is an established company incorporate in the year 1995 having good track records. 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 financial of 2016, the company has registered some accumulated losses. However, the company has achieved good profit during FY 2016 which has reduced major part of its accumulated losses. Rating also takes into consideration company’s healthy networth base along with comfortable debt level and long established track record of business operation. Further, the company derives strength from its holding company and its experienced management. It is also to be noted that “Schneider Electric” has been ranked 399 with Global Fortune 500 Companies. Trade relations are reported as fair. Business is active. Payments terms are seems to be regular and as per commitments. The company can be considered 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

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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 30.03.2018

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: Tel No.: 91-124-3940400

LOCATIONS

Registered Office :	C-56, Mayapuri Industrial Area, Phase-II, New Delhi-110064, India
Tel. No.:	91-11-30189530
Fax No.:	Not Available
E-Mail :	ankur2.singhal@schneider-electric.com
Website :	http://www.schneider-electric.co.in http://www.schneider-electric.com

Head Office /Corporate Office:	9^th Floor, DLF Building No. 10, Tower C, DLF Cyber City, Phase - II, Gurugram– 122002, Haryana, India
Tel. No.:	91-124-3940400
Fax No.:	91-124-4222036/4222037

Administrative Office	Plot No. L-3, Verna Industrial Estate, Verna, Goa - 403722, India

Customer Care Center :	2nd Floor, Tower–A, Bestech Business Tower, Sector 66, Mohali – 160059, Punjab, India
Fax No.:	91-172-3324555

Branch Office:	328/23, Rasulabad Road Village, Jaroda, Vadodara, Gujarat, India

DIRECTORS

As on 2017

Name :

Mr. Anil Chaudhry

Designation :

Managing Director

Address :

Apartment No. C 061, The Belaire, DLF City, Phase 5, Golf Course Road, Gurugram- 122001, Haryana, India

Date of Birth/Age :

11.03.1961

Date of Appointment :

21.08.2013

PAN No.:

AADPC6250D

DIN No.:

03213517

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L31900GJ2011PLC064420	SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED	12/03/2011	-
U31200TN1996PTC082282	SCHNEIDER ELECTRIC SYSTEMS INDIA PRIVATE LIMITED	30/09/2014	-
U65921HR2010PTC041756	ENERGY GRID AUTOMATION TRANSFORMERS AND SWITCHGEARS INDIA PRIVATE LIMITED	29/12/2010	-
U74899DL1988PTC032019	LUMINOUS POWER TECHNOLOGIES PRIVATE LIMITED	28/09/2015	-
U74999DL2015NPL276607	SPREADING HAPPINESS INDIYA FOUNDATION	12/02/2015	-

Name :

Mr. Sugata Sircar

Designation :

Whole-Time Director

Address :

Apartment D-1402, Palm Springs, Golf Course Road, Sector-5, Gurugram - 122003, Haryana, India

Date of Birth/Age :

20.12.1963

Date of Appointment :

28.09.2014

PAN No.:

AITPS5665G

DIN No.:

01119161

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L31900GJ2011PLC064420	SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED	11/08/2015	-
U24111PN1995PTC014279	SENSUS METERING SYSTEMS INDIA LIMITED	01/11/2006	-
U30007TN1989PTC018509	EUROTHERM INDIA PRIVATE LIMITED	30/09/2015	-
U31200TN1996PTC082282	SCHNEIDER ELECTRIC SYSTEMS INDIA PRIVATE LIMITED	30/09/2015	-
U32109KA1984PLC079103	SCHNEIDER ELECTRIC PRESIDENT SYSTEMS LIMITED	22/09/2015	-
U72200PN2002PTC016887	MCKINNON AND CLARKE (INDIA) PRIVATE LIMITED	28/11/2014	-
U74999DL2015NPL276607	SPREADING HAPPINESS INDIYA FOUNDATION	23/09/2016	-

Name :

Mr. Sumendra Jain

Designation :

Whole-Time Director

Address :

D-1203, Wembley Estate, Sector 50, Rosewood City, Gurugram South City II, Gurugram - 122018, Haryana, India

Date of Birth/Age :

09.09.1973

Date of Appointment :

29.09.2014

PAN No.:

AAVPJ4277D

DIN No.:

06366826

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51395KA2004PTC070403	UNIFLAIR INDIA PRIVATE LIMITED	30/09/2013	-
U65921HR2010PTC041756	ENERGY GRID AUTOMATION TRANSFORMERS AND SWITCHGEARS INDIA PRIVATE LIMITED	30/09/2013	-
U72200PN2002PTC016887	MCKINNON AND CLARKE (INDIA) PRIVATE LIMITED	26/11/2012	-
U73100KA2007PTC043795	CIMAC SOFTWARE SYSTEMS PRIVATE LIMITED	30/09/2013	-
U73100KA2007PTC043796	CIMAC AUTOMATION PRIVATE LIMITED	30/09/2013	-
U74140DL2013NPL258047	SPREADING HAPPINESS FOUNDATION	12/09/2016	-

Name :

Mr. Karthik Rajaram

Designation :

Whole Time Director

Address :

334, 9th Main 4th Block, Rajajinagar Bangalore -560010, Karnataka, India

Date of Birth/Age :

19.09.1980

Date of Appointment :

30.06.2017

DIN No.:

07842869

Name :

Rachna Mukherjee

Designation :

Whole-Time Director

Address :

A-26/3 IInd Floor SFS DDA Flats, Saket, New Delhi - 110017, India

Date of Birth/Age :

30.11.1962

Date of Appointment :

28.09.2014

PAN No.:

AAAPM2765L

DIN No.:

06970986

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U32109KA1984PLC079103	SCHNEIDER ELECTRIC PRESIDENT SYSTEMS LIMITED	22/09/2015	-

KEY EXECUTIVES

Name :	Mr. Ankur Singhal
Designation :	Company Secretary
Address :	H-126, C Block, UGF, Kilokri Ashram, New Delhi - 110014, India
Date of Birth/Age :	18.06.1980
Date of Appointment :	26.05.2014
PAN No.:	AYSPS1757J

Name :	Mr. Sumendra Jain
Designation :	Chief Finance Officer
Address :	D-1203, Wembley Estate, Sector 50, Rosewood City, Gurugram South City II, Gurugram - 122018, Haryana, India
Date of Birth/Age :	09.09.1973
Date of Appointment :	29.09.2014
PAN No.:	AAVPJ4277D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Equity Shareholders		No. of Shares
Schneider Electric Industries S.A.S., France		370435465
Schneider Electric Services International, Europe		29432862
Schneider Electric Denmark AS, Denmark		2850760
Societe Rhodanienne D’Etudeset De Participations, France		1
Total		402719088

Names of Preference Shareholders		No. of Shares
Schneider Electric IT Business India Private Limited, India		500000000
Total		500000000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2017

Category	Percentage
Promoters (Body corporate)	91.98
Public/Other than promoters (Body corporate)	8.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacturing and trading in Industrial, electrical and electronic products. The Company also provides consulting and engineering, erection and commissioning and annual maintenance services for the above businesses. The Company is also engaged in research and development activities pertaining to the above businesses. (Registered Activity)

Products/Services:

ITC Code No.:	Products/Services:
85362010	Circuit Breaker
85362090	Final Distribution Breakers Devices
85441190	Wiring Devices
85362090	Contactor

Copper Cables
Copper Components
Fibre Cables
Fibre Components

Brand Names :

“”DIGILINK”

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 declined by the management

Bankers :

Bank Name	BNP Paribas
Branch	East towers, 8^th floor, 25 Barakhambha Road, Delhi – 110001, India
Person Name (With Designation)	--
Contact Number	91-11-41796600 (Management non co-operative)
Name of Account Holder	--
Account Number	0906501074900315
IFCS Code:	BNPA0009065 (Not confirmed with banker)
MICR Code:	110034002
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Facilities :

Secured Loan	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Loans and advances from related parties	1150.000	2450.000
Total	1150.000	2450.000

Auditors :
Name :	S.R. Batliboi and Company LLP Chartered Accountants
Address :	Golf View Corporate Tower – B, Sector – 42, Sector Road, Gurugram – 122002, Haryana, India
Income-tax PAN of auditor or auditor's firm :	AALFS0506L

Memberships :	--

Collaborators :	--

Holding company :	Schneider Electric Industries S.A.S, France

Subsidiary companies :	Spreading Happiness Foundation Schneider Electric Lanka Private Limited

Fellow Subsidiary Companies:	Schneider Electric Lanka Private Limited Schneider Electric President Systems Limited Cimac Software Systems Private Limited Clipsal Australia Pty Limited Clips A L Integrated Systems (M) Clipsal Manufacturing Systems (M) Clipsal Manufacturing (Huizhou) Limited Clipsal Middle East FZC CLIPSAL VIETNAM C-Matic Systems Limited Control Microsystems Delixi Electric Limited Digital Electronic Corporation Elau Gmbh Elda – Eltraelektrotechnika S.A. Electrical Power Distribution Elsogmbhelektrotechnik Feller AG Fuji Electric FaComponents and Systems Company Limited Gutor Electronic LLC Invensys Limited Jo-El Electric A/S Luminous Power Technologies Private Limited Schneider Chile S.A. Luminous Teleinfra Limited Schneider Electric FZE Manufacturas Electricas S.A Merlin Gerin Ales Merten GmbH P.T. Schneider Indonesia Pt Schneider Electric MFG Pelco Pelco Asia Pacific Pte Pelco Finland Oy Power Measurement Canada Pro-Face South-East Asia Pacific Co Pt Schneider Electric Indonesia Rect Iphase Compensation D'energie S.E.A. Ste Electrique Samwha EOCR Company Limited Sarel SA Scanelec SA Schneider Shanghai Power Distribution Electrical App. Company, Limited Schneider (Thailand) Limited Schne Ide R Automation SAS Schneider Beijing Medium Low Votage Company Schneider Busway (Guangzhou) Limited Schneider Electric Centroamericaltda Schneider Electric Distribution Egypt Schneider Electric Motion Deutschl. GmbH and Company Kg Schneider Electric, Chile Schneider Electric(China) Company Limited Schneider Electric Cyprus Schneider Electric - P L 48 Schneider Electric (Hong Kong ) Limited Schneider Electric (Australia) Pty Limited Schneider Electric (China) Investment Company Limited Schneider Electric (Korea) Limited Schneider Electric (Or Power Measurement Limited ) Schneider Electric (Singapore) Pte Limited Schneider Electric (Suisse) SA Schneider Electric (Taiwan) Limited Schneider Electric (Thailand) Limited Schneider Electric, Turkey Schneider Electric, Australia Schneider Electric, Sofia Schneider Electric A.S SET-RDC Schneider Electric Argentina S.A Schneider Electric Asia Pacific Limited Schneider Electric Austria Ges. Mb. H Schneider Electric Manufacturing Batam, Indonesia Schneider Electric Brazil Limited a Schneider Electric Building LLC Schneider Electric Building AB Schneider Electric Buildings Australia Pty Limited Schneider Electric Buildings Singapore Pte. Limited Schneider Electric Bulgaria Schneider Electric Centroamerica Schneider Electric Cz, S.R.O. Schneider Electric Denmark A.S. Schneider Electric Egypt Schenider Electric Energy Schneider Electric Energy Manufacturing Italia SRL Schneider Electric Energy UK Limited Schneider Electric Esp Limited Schneider Electric Espana S.A.U Schneider Electric France Schneider Electric Gmbh Schneider Electric Hungaria Schneider Electric Indonesia Schneider Electric Industries (M) Schneider Electric Indust R Ies (Malaysia) Sdn Bhd Schneider Electric Industries S.A Schneider Electric Infrastructure Limited Schneider Electric Israel Schneider Electric IT Business India Private Limited Schneider Electric It Denmark APS Schneider Electric IT Logistics Asia Pasific Pte. Limited Schneider Electric Italy SPA Schneider Electric Korea Limited Schneider Electric Limited, UK Schneider Electric LLP Kazakhstan Schneider Electric Limited, Leeds Schneider Electric Logistics Asia Pte Limited Schneider Electric Manufacturing Schneider Electric Mexico S.A Schneider Electric Motion Schneider Electric Nigeria Limited Schneider Electric NV/SA Schneider Electric Overseas Asia Pte. Limited Schneider Electric Peru Schneider Electric Philippines, INC Schneider Electric Poland Schneider Electric Power Drives GMB Schneider Electric Sea (Hq) Pte Limited Schneider Electric Services International, Belgium Schneider Electric Singapore Pte. Limited Schneider Electric Slovakia Schneider Electric Solar Inverters USA, INC Schneider Electric South East Asia (HQ) Pte Limited Schneider Electric Spain C Schneider Electric Sverige Ab Schneider Electric Usa, INC Schneider Shanghai Appratus Manufacturing Company Schneider Shanghai Low Voltage Terminal Apparatus Company Limited Veris Industries LLC Schneider Electric South Africa (Pty) Limited Schneider Electric Telecontrol Schneider Elektrik Sanayi Ve Ticare Schneider(Suzhou) Transformers Company Limited Wuxi Pro-Face Electronics Company Limited Schneider Elektrik San. Ve Ticare Schneider Hongkong Schne Ide R Transformers Company Limited Schneider Electric A.E.B.E (Greece) Schneider Logistics Asia Pte, Singapore Schneider Shanghai Industrial Control, China Se Cee Plovdiv Société Francaise Gardy Schneider Electric Swiss Schneider Electric Thiland Schneider Electric Cjsc Schneider Electric, Jordan Schneider Elektrik, A.S. Schneider Medium Low Votage Company Schneider Medium Voltage Company Schneider Shanghai Power Distribution Elec.App Co Limited Schneider US Schneider (Suzhou) Transformers Company Limited Square D Company, USA Stromfors Electric OY Tac AB, Sweden Tac USA Telemecanique Iran Uniflair India Private Limited Xantrex Technology, INC

CAPITAL STRUCTURE

As on 29.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

900000000	Equity Shares	INR 5/- each	INR 4500.000 Million
550000000	Preference Shares	INR 10/- each	INR 5500.000 Million
	Total		INR 10000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

402719088	Equity Shares	INR 5/- each	INR 2013.595 Million
500000000	Preference Shares	INR 10/- each	INR 5000.000 Million
	Total		INR 7013.595 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
	(12 months)	(12 months)	(9 months)
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	7013.600	7013.600	7013.595
(b) Reserves & Surplus	(1849.130)	(2771.550)	(3031.895)
(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)	5164.470	4242.050	3981.700

(3) Non-Current Liabilities
(a) long-term borrowings	1150.000	2450.000	1184.500
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	245.160	209.390	137.300
(d) long-term provisions	381.890	340.050	296.400
Total Non-current Liabilities (3)	1777.050	2999.440	1618.200

(4) Current Liabilities
(a) Short term borrowings	4944.310	5083.490	6908.900
(b) Trade payables	11614.950	10800.110	11183.300
(c) Other current liabilities	831.840	833.750	922.200
(d) Short-term provisions	1093.330	536.220	219.000
Total Current Liabilities (4)	18484.430	17253.570	19233.400

TOTAL	25425.950	24495.060	24833.300

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4424.130	4181.130	3766.400
(ii) Intangible Assets	451.990	586.660	731.500
(iii) Capital work-in-progress	624.900	239.500	472.700
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	39.650	41.650	41.600
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1134.130	945.720	743.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	6674.800	5994.660	5755.200

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4508.310	4059.300	4353.000
(c) Trade receivables	9432.500	9242.160	9940.200
(d) Cash and cash equivalents	1383.630	1384.150	1782.000
(e) Short-term loans and advances	2531.820	2742.760	2366.600
(f) Other current assets	894.890	1072.030	636.300
Total Current Assets	18751.150	18500.400	19078.100

TOTAL	25425.950	24495.060	24833.300

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS		31.03.2016	31.03.2015	31.03.2014
			(12 months)	(12 months)	(9 months)
	SALES
		Income	37231.400	32980.330	23106.800
		Other Income	99.270	1050.030	43.000
		TOTAL	37330.670	34030.360	23149.800

Less	EXPENSES
		Cost of Materials Consumed	13975.170	12040.830	8703.500
		Purchases of Stock-in-Trade	7862.550	7678.070	5141.300
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(681.760)	(67.290)	301.200
		Employees benefits expense	7504.150	6663.930	4279.100
		Other expenses	6007.480	5256.960	4160.300
		Exceptional Item	87.430	441.330	0.000
		TOTAL	34755.020	32013.830	22585.400

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		2575.650	2016.530	564.400

Less	FINANCIAL EXPENSES		501.580	696.570	544.800

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		2074.070	1319.960	19.600

Less/ Add	DEPRECIATION/ AMORTISATION		1151.650	1059.580	911.100

	PROFIT/ (LOSS) BEFORE TAX		922.420	260.380	(891.500)

Less	TAX		0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX		922.420	260.380	(891.500)

	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	8758.170	7497.200	4524.700
	TOTAL EARNINGS		8758.170	7497.200	4524.700

	IMPORTS
	Industrial Electrical, Electronic Items and Raw Material
		Goods purchase for resale	0.000	0.000	3238.500
		Raw Materials and Component	11952.260	9251.840	3991.900
		Capital Goods	363.280	118.680	193.500
	TOTAL IMPORTS		12315.540	9370.520	7423.900

	Earnings / (Loss) Per Share (INR)		1.17	(0.47)	(3.25)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
	(12 months)	(12 months)	(9 months)
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	122.49	89.490	852.500
Net cash flows from (used in) operating activities	3444.150	1991.310	1322.100

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	(12 months)	(12 months)	(9 months)
Average Collection Days (Sundry Debtors / Income * 365 Days)	92.47	102.28	157.02

Account Receivables Turnover (Income / Sundry Debtors)	3.95	3.57	2.32

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	194.13	199.91	294.83

Inventory Turnover (Operating Income / Inventories)	0.57	0.50	0.13

Asset Turnover (Operating Income / Net Fixed Assets)	0.47	0.40	0.11

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	(12 months)	(12 months)	(9 months)
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.77	0.80	0.82

Debt Equity Ratio (Total Liability / Networth)	1.18	1.78	2.03

Current Liabilities to Networth (Current Liabilities / Net Worth)	3.58	4.07	4.83

Fixed Assets to Networth (Net Fixed Assets / Networth)	1.07	1.18	1.25

Interest Coverage Ratio (PBIT / Financial Charges)	5.14	2.89	1.04

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
		(12 months)	(12 months)	(9 months)
Net Profit Margin ((PAT / Sales) * 100)	%	2.48	0.79	(3.86)

Return on Total Assets ((PAT / Total Assets) * 100)	%	3.63	1.06	(3.59)

Return on Investment (ROI) ((PAT / Networth) * 100)	%	17.86	6.14	(22.39)

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	(12 months)	(12 months)	(9 months)
Current Ratio (Current Assets / Current Liabilities)	1.01	1.07	0.99

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.77	0.84	0.77

G-Score Ratio Financial (Networth / Total Assets)	0.20	0.17	0.16

G-Score Ratio Debt (Debts / Equity Capital)	0.87	1.07	1.15

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.01	1.07	0.99

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
	(9 months)	(12 months)	(12 months)
	(INR in Million)	(INR in Million)	(INR in Million)
Share Capital	7013.595	7013.600	7013.600
Reserves & Surplus	(3031.895)	(2771.550)	(1849.130)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	3981.700	4242.050	5164.470

long-term borrowings	1184.500	2450.000	1150.000
Short term borrowings	6908.900	5083.490	4944.310
Total borrowings	8093.400	7533.490	6094.310
Debt/Equity ratio	2.033	1.776	1.180

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	(9 months)	(12 months)	(12 months)
	(INR in Million)	(INR in Million)	(INR in Million)
Sales	23106.800	32980.330	37231.400
		42.730	12.890

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	(9 months)	(12 months)	(12 months)
	(INR in Million)	(INR in Million)	(INR in Million)
Sales	23106.800	32980.330	37231.400
Profit/(Loss)	(891.500)	260.380	922.420
	(3.86)%	0.79%	2.48%

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2016	31.03.2015

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	7013.600	7013.600
(b) Reserves & Surplus	(1601.980)	(2542.690)
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	5411.620	4470.910

(3) Non-Current Liabilities
(a) long-term borrowings	1150.640	2450.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	245.160	209.380
(d) long-term provisions	388.300	351.670
Total Non-current Liabilities (3)	1784.100	3011.050

(4) Current Liabilities
(a) Short term borrowings	5016.000	5083.470
(b) Trade payables	12084.110	11183.520
(c) Other current liabilities	872.950	908.800
(d) Short-term provisions	1101.030	536.090
Total Current Liabilities (4)	19074.090	17711.880

TOTAL	26269.810	25193.840

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4430.920	4182.540
(ii) Intangible Assets	452.240	587.000
(iii) Capital work-in-progress	624.900	239.520
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	2.000
(c) Deferred tax assets (net)	1.600	1.100
(d) Long-term Loan and Advances	1136.240	949.690
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	6645.900	5961.850

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	4596.240	4149.100
(c) Trade receivables	9880.450	9668.000
(d) Cash and cash equivalents	1710.720	1601.910
(e) Short-term loans and advances	2541.610	2741.010
(f) Other current assets	894.890	1071.970
Total Current Assets	19623.910	19231.990

TOTAL	26269.810	25193.840

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2016	31.03.2015
	SALES
	Income	38068.510	33664.400
	Other Income	98.570	996.450
	TOTAL	38167.080	34660.850

Less	EXPENSES
	Cost of Materials Consumed	13975.170	12040.830
	Purchases of Stock-in-Trade	8485.260	8185.530
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(679.890)	(115.400)
	Employees benefits expense	7576.190	6727.910
	Other expenses	6071.400	5338.170
		87.430	441.330
	TOTAL	35515.560	32618.370

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2651.520	2042.480

Less	FINANCIAL EXPENSES	508.160	701.740

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2143.360	1340.740

Less/ Add	DEPRECIATION/ AMORTISATION	1153.830	1062.140

	PROFIT/ (LOSS) BEFORE TAX	989.530	278.600

Less	TAX	35.420	35.870

	PROFIT/ (LOSS) AFTER TAX	954.110	242.730

	Earnings / (Loss) Per Share (INR)	1.06	0.27

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	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	No
21]	Banking facility details	Yes
22]	Conduct of the banking account	--
23]	Financials, if provided	Yes
24]	Capital in the business	Yes
25]	Last accounts filed at ROC, if applicable	Yes
26]	Turnover of firm for last three financial year	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last three financial year	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: The registered address has been shifted from Plot No.B-12, Ground Floor, Rewari Line, Mayapuri Industrial Area, Phase I, New Delhi – 110064, India to present address.

CORPORATE INFORMATION

Subject is a private limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of manufacturing and trading in Industrial, electrical and electronic products. The Company also provides consulting and engineering, erection and commissioning and annual maintenance services for the above businesses. The Company caters to both domestic and international markets. The Company is also engaged in research and development activities pertaining to the above businesses.

UNSECURED LOAN

PARTICULARS	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Short-term borrowings
Rupee term loans from banks	4944.310	5083.490

Total	4944.310	5083.490

INDEX OF CHARGES

S No	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	B26126433	10031213	STATE BANK OF INDIA	17/11/2006	22/05/2009	16/11/2011	131000000.0	MID CORPORATE LOAN ADMINISTRATION UNIT RESIDENCY PLAZA, 3^RD FLOOR, NO. 61, RESIDENCY ROAD BANGALORE KARNATAKA 560025 INDIA
2	A58673559	80016319	STATE BANK OF INDIA	29/01/1998	24/01/2003	04/03/2009	57000000.0	SSI BRANCH KUMARA PARK BANGALORE KARNATAKA 560020 INDIA
3	A58673013	90195408	STATE BANK OF INDIA	29/01/1998	04/08/2003	04/03/2009	30830000.0	SSI BRANCH KUMARA PARK BANGALORE KARNATAKA 560020 INDIA
4	Y10295464	90193565	CANARA BANK	31/10/1990	-	15/03/1998	0.0	CHUNNIGHAM ROAD BANGALORE KARNATAKA 560052 INDIA
5	Y10295842	90193943	CANARA BANK	25/09/1995	23/02/1996	05/03/1998	0.0	CUNNIINGHAM ROAD BANGALORE KARNATAKA 560052 INDIA
6	Y10296834	90194935	CANARA BANK	25/08/1989	27/02/1996	05/03/1998	0.0	CUNNINGHAM ROAD BANGALORE KARNATAKA 560052 INDIA
7	Y10292366	90190467	KARNATAKA STATE FINANCIAL CORPORATION	29/06/1989	-	15/02/1998	0.0	NO25.MG ROAD BANGALORE KARNATAKA 560001 INDIA
8	Y10293412	90191513	KARNATAKA STATE FINACIAL CORPROATION	18/10/1995	-	05/02/1998	0.0	NO1/1;MG ROAD KUMARA PARK BANGALORE KARNATAKA 560020 INDIA

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

551.290

424.300

Other commitments

7.900

FIXED ASSETS

· Land – Leasehold

· Leasehold Improvements

· Building

· Plant and machinery

· Furniture and Fixture

· Office Equipment

· Data Processing Equipments

· Vehicles

· Goodwill

· Trade Mark

· Software

WEBSITE DETAILS:

NEWS / PRESS RELEASES

SCHNEIDER ELECTRIC EYES 25-30% GROWTH IN SOLAR BUSINESS IN INDIA

Date: 06.05.2016

Under the backdrop of the ambitious rural electrification project of the central government, global energy equipment company Schneider Electric is targeting a 25-30 per cent growth in its solar business in India over the next couple of years.

“So far, in the past two years, our solar business has grown by 40-50 per cent against the market growth of 100 per cent. However, if the momentum is good on account of the rural electrification project, our growth can be between 25-30 per cent in the next two years,” Anurag Garg, vice president of the solar business in India at Schneider Electric said.

Also, in the coming 4-5 months, the company will install another 300 megawatt (Mw) of solar inverters which will pull up its solar power generation capability to one gigawatt (Gw) from the present 700 Mw. Inverters it has sold to its clients connected with the power grid will mostly drive this growth.

The company, which has a production capacity of 2.5-2.7 Gw is currently utilising 60-80 per cent of the current capacity. While it is not looking at a capacity expansion, it may increase the production shifts from two to three per day.

“Our production model is very scalable”, he said adding the company offers a complete solar solution except panel and wires.

From its production unit in Bengaluru in Karnataka, around 70 per cent of the products are exported while the rest is consumed in the Indian market.

According to Garg, micro and mini-grids, which fall under the 5-200 kilowatt bracket, feature as the most efficient means to deliver electricity to rural India.

SCHNEIDER ELECTRIC LOOKING AT 30% GROWTH

Date:06.05.2016

KOLKATA: The solar division of Schneider Electric India is looking at a 25-30% growth in business this year as demand for solar capacities rise.

"Analysts believe the industry will almost double in size this year which will attract many new players. We hope to grow between 25% and 30% in India," said Schneider India VP (solar) Anurag Garg.

"With national mission for solar power capacity addition laying stress on micro and mini-grids, we are very optimistic about Indian growth business growth," he said.

Schneider Electric sell invertors and other critical components for solar installations. According to him Schneider offers complete solar solution except panel and cables.

Till now its equipment are installed in generation capacities that totals to about 700 MW. "This is expected to touch 1 GW in the next few months," said Garg.

Garg said micro and mini-grids are the most efficient means to deliver electricity in rural India. The government needs to electrify some 11,500 odd villages which is expected to jack up demand for mini and micro grids.

Speaking about its global hub for invertor plant in Bangalore, Garg said the current capacity is for 2.5GW and some 70% is exported.

SCHNEIDER ELECTRIC TO INVEST INR 7500.000 MILLION IN INDIA

October 12, 2016

Schneider Electric, a specialist in energy management and automation, today said that it plans to pump in INR 7500.000 Million in India over the next three to five years in research and development (R&D), innovation and manufacturing.

"We have invested quite significantly in India. In the past 10 years we have invested roughly around 800 million euro. In the country (India) we plan to invest another 100 (million euros) at least in the next coming five years," Schneider Electric Chairman and CEO Jean-Pascal Tricoire told reporters here.

Schneider Electric India Country President and MD Anil Chaudhry said: "We have already invested INR 60000.000 million in the last few years (in India). Another INR 7500.000 million will be invested in the three to five years’ time."

"The plan is to keep doing what we do today. We have 20,000 people in the country," Tricoire said, adding that the company has developed in India at a break-neck pace.

The company has 28 factories and is present in 50 cities, he added.

"When I look at the present priorities of the country like Digital India and energy for manufacturing, Schneider is completely aligned with all of those priorities," he said.

CCI CLEARS SCHNEIDER ELECTRIC-LUMINOUS POWER DEAL

Date: 27.01.2017

In 2011, Schneider Electric had acquired 74 per cent of Luminous Power Technologies (LPT) for a total consideration of INR 14000.000 Million.

NEW DELHI: The Competition Commission has approved French firm Schneider Electric's proposed purchase of the remaining 26 per cent in power backup solutions provider Luminous.

In 2011, Schneider Electric had acquired 74 per cent of Luminous Power Technologies (LPT) for a total consideration of INR 14000.000 Million.

Competition Commission of India (CCI), which keeps a tab on unfair business ways, has approved the deal to acquire the remaining stake, as per the regulator's website.

As per a filing to the watchdog, the French firm would acquire 26 per cent shares of LPT presently held by the founder shareholders, resulting in their exit and Schneider acquiring sole control of the company.

LPT, a joint venture, is engaged in the business of manufacturing home electrical devices and equipment.

The founder shareholders are Rakesh Malhotra, Nirupama Malhotra, Om Prakash Kapoor and Navneet Kapoor and they would be selling their stake in LPT.

Schneider is a leading player in energy management and automation.

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 65.06
UK Pound	1	INR 92.06
Euro	1	INR 80.37

INFORMATION DETAILS

Information Gathered by :	SAV

Analysis Done by :	DIV

Report Prepared by :	RKI

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.