|
|
|
MIRA INFORM REPORT
|
Report No. : |
500890 |
|
Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
VERTIV ENERGY PRIVATE LIMITED (w.e.f. 16th
May 2017) |
|
|
|
|
Formerly Known
As : |
EMERSON NETWORK POWER (INDIA) PRIVATE LIMITED (w.e.f. 08.10.2001) TATA LIEBERT PRIVATE LIMITED (w.e.f. 17.09.2001) TATA LIEBERT LIMITED (w.e.f. 03.08.1993) LIEBERT SYSTEM SUPPORT EQUIPMENTS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.C-20, Road No.19, Wagle Industrial Estate, Thane – 400604,
Maharashtra |
|
Tel. No.: |
91-22-67208000/ 001/ 25802388/ 25807000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
10.03.1993 |
|
|
|
|
Com. Reg. No.: |
11-071079 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 127.730 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1993PTC071079 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0393032906 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML01804F |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT4033H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is primarily engaged in the business of Manufacturing and Marketing Uninterruptible Power Supply (UPS) Systems, Precision Air Conditioning Systems (PAC), DC Power Systems (DC), Automatic Transfer Switches and parts of Transmission Apparatus (Shelter). (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is step down subsidiary of “EMERSON ELECTRIC COMPANY’, ST LOUIS, USA and was incorporated on 10th March 1993. The company is engaged in Manufacturing of Uninterruptible Power Supply (UPS) Systems, Climate and Environmental Systems, DC Power Systems (DC), Automatic Transfer Switches (ATS), Racks, Monitoring solutions and enclosures for its server protection. The company caters to the requirement of healthcare, manufacturing and telecom industries. The subject also provides process management, industrial automation, climate technologies and commercial and residential solutions through its group companies.
|
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 |
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 DENIED BY
|
Name : |
Mr. Vivek |
|
Designation : |
Office Assistance |
|
Contact No.: |
91-124-4894500 |
|
Date : |
12.08.2018 |
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-22-66620566
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No.C-20, Road No.19, Wagle Industrial Estate, Thane – 400604, |
|
Tel. No.: |
91-22-67208001 / 38557584 |
|
Mobile No.: |
91-9821911943 (Mr. Sandeep) |
|
Fax No.: |
91-22-25828358/ 25800829 |
|
Email : |
emersonnetwork@emersonnetwork.co.in |
|
Website : |
|
|
|
|
|
Head Office : |
18th Floor, Towers B&C, DLF Cyber Terraces, DLF Building No. 5, DLF Cyber City, Phase - III, Gurugram – 122002, Haryana, India |
|
Tel. No.: |
91-124-4894500 |
|
|
|
|
Factory 2: |
Plot No G-1, Additional Ambernath Industrial Area, Phase 2, Bohonoli,
Ambernath, Maharashtra, India |
|
|
|
|
Zonal Offices : |
New Delhi 18/14, WEA, Pusa Lane, Karol Baug, New Delhi-110005, India Tel No.: 91-11-28754206/ 28750774/ 28757706/ 28753214/ 28755071/
28756038 Fax No.: 91-11-28751601 Kolkata Advantage Tower, EN-27, 7th Floor, Salt Lake, Sector-V,
Kolkata-700091, West Bengal, India Tel No. : 91-33 - 40023100/22890490/93 Fax No.: 91-33 - 2289049
Tel No.: 91-80-41135670/ 41135870/ 5635401/2/3/5/6 Fax No.: 91-80-41135570 |
|
|
|
|
Branch Office: |
Tel No.: 91-120-3078500
Tel No.: 91-11-49684400
Tel No.: 91-522-226001
Tel No.: 91-141-4024774 / 4029774
Tel No.: 91-172-3247722
Tel No.:91-79-27560230
Tel. No.: 91-265-2330383
Tel. No.: 91-172-3931896
Tel. No.: 91-22-66942711
Tel. No.: 91-253-2370110
|
|
|
|
|
Global Headquarters
: |
Located at: |
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|
|
|
Regional
Headquarters : |
Located at: |
|
|
|
|
Business
Headquarters : |
Located at:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sunil Ramashanker Khanna |
||||||||||||
|
Designation : |
Managing Director |
||||||||||||
|
Address : |
C-302, Celebrity Home Palam Vihar, Gurugram-122002, Haryana, India |
||||||||||||
|
Date of Birth/Age : |
07.07.1955 |
||||||||||||
|
Qualification : |
Professional |
||||||||||||
|
Date of Appointment : |
10.12.2013 |
||||||||||||
|
DIN No.: |
00907147 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Vasudevan Rajagopalan |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
306/307, Building No. 2B, Garden Enclave, Vasant Vihar, Pokharan Road No. 2, Thane (West), Thane – 400610, Maharashtra, India |
||||||||||||
|
Date of Appointment : |
26.06.2017 |
||||||||||||
|
DIN No.: |
06452741 |
||||||||||||
|
Other Directorship :
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Arundhati Bandyopadhyay Bhattacharya |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
6402 ATS, Green II A 58, Sector 50, Gautam Budh Nagar, Noida – 201307, Uttar Pradesh, India |
||||||||||||
|
Date of Appointment : |
26.06.2017 |
||||||||||||
|
DIN No.: |
06895100 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Peush Mahajan |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
EC/105, Block EC Maya Enclave, Hari Nagar, New
Delhi – 110046, India |
||||||||||||
|
Date of Appointment : |
19.04.2017 |
||||||||||||
|
DIN No.: |
03080336 |
||||||||||||
|
Other Directorship :
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Prasad Ayikkara Somanathan |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
303 The View ADI, Shankaracharya Marg, Opposite Powai
Lake, Mumbai – 400076, Maharashtra, India |
||||||||||||
|
Date of Appointment : |
29.09.2017 |
||||||||||||
|
DIN No.: |
07951803 |
||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Vivek |
|
Designation : |
Office Assistance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Liebert Corporation Inc, United States of America |
4275000 |
33.47 |
|
|
4500000 |
35.23 |
|
EMR (Mauritius) Limited, Mauritius |
1280992 |
10.03 |
|
Chloride Supplies Limited UK |
2237408 |
17.52 |
|
Chloride Group Limited UK |
479642 |
3.76 |
|
Total |
12773042 |
100.00 |
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Vertiv Holdings Limited |
|
4275000 |
|
Liebert Corporation Inc,
United States of America |
|
4500000 |
|
Chloride Supplies Limited UK |
|
2237408 |
|
Chloride Group Limited UK |
|
479642 |
|
Total |
|
11492050 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of Manufacturing and Marketing Uninterruptible Power Supply (UPS) Systems, Precision Air Conditioning Systems (PAC), DC Power Systems (DC), Automatic Transfer Switches and parts of Transmission Apparatus (Shelter). (Registered activity) |
||||||
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||||||
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Products : |
|
||||||
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|
|
||||||
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Brand Names : |
Not Divulged |
||||||
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|
||||||
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Agencies Held : |
Not Divulged |
||||||
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|
||||||
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Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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||||||||||||||||||||||
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Customers : |
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||||||||||||||||||||||
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||||||||||||||||||||||
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No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
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|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
1st Floor, Lodha Excelus Apollo Mills Compound, N.M Joshi Marg Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding
Company : |
Emerson Electric Co., St. Louis, U.S.A. |
|
|
|
|
Subsidiary: |
Emerson Process Management (Chennai) Private Limited. (Upto 26 January 2016) |
|
|
|
|
Fellow Subsidiaries
: |
|
|
|
|
|
Others : |
U29196MH1981PTC024115
U29120MH2004PTC146916
|
CAPITAL STRUCTURE
After 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17750000 |
Equity Shares |
INR 10/- each |
INR 177.500 Million |
|
3000000 |
Preference Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
INR 207.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11492050 |
Equity Shares |
INR 10/- each |
INR 114.920 Million |
|
|
|
|
|
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17750000 |
Equity Shares |
INR 10/- each |
INR 177.500 Million |
|
3000000 |
Preference Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
INR 207.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12773042 |
Equity Shares |
INR 10/- each |
INR 127.730
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 |
127.730 |
100.560 |
100.560 |
|
(b) Reserves & Surplus |
9540.800 |
9301.100 |
10388.500 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
6474.700 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
9668.530 |
15876.360 |
10489.060 |
|
|
|
|
|
|
(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 |
26.200 |
26.900 |
28.300 |
|
(d) long-term provisions |
279.900 |
273.200 |
151.600 |
|
Total
Non-current Liabilities (3) |
306.100 |
300.100 |
179.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2901.500 |
3071.340 |
2511.640 |
|
(c) Other current liabilities |
1480.200 |
1290.200 |
1140.700 |
|
(d) Short-term provisions |
786.900 |
688.700 |
372.600 |
|
Total
Current Liabilities (4) |
5168.600 |
5050.240 |
4024.940 |
|
|
|
|
|
|
TOTAL |
15143.230 |
21226.700 |
14693.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1284.700 |
1351.000 |
1020.900 |
|
(ii) Intangible Assets |
3339.500 |
3993.700 |
47.500 |
|
(iii) Capital work-in-progress |
0.000 |
0.800 |
26.400 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
4605.500 |
5746.300 |
|
(c) Deferred tax assets (net) |
44.200 |
168.700 |
171.700 |
|
(d) Long-term Loan and Advances |
1087.600 |
884.000 |
457.800 |
|
(e) Other Non-current assets |
1.500 |
0.700 |
0.100 |
|
Total
Non-Current Assets |
5757.500 |
11004.400 |
7470.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1557.100 |
1638.000 |
1181.500 |
|
(c) Trade receivables |
4382.800 |
3967.600 |
3515.500 |
|
(d) Cash and cash equivalents |
2967.700 |
3190.000 |
1468.300 |
|
(e) Short-term loans and
advances |
453.900 |
1360.800 |
1039.600 |
|
(f) Other current assets |
24.230 |
65.900 |
18.300 |
|
Total
Current Assets |
9385.730 |
10222.300 |
7223.200 |
|
|
|
|
|
|
TOTAL |
15143.230 |
21226.700 |
14693.900 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
16205.900 |
14570.800 |
11529.800 |
|
|
Other Income |
269.900 |
394.000 |
159.700 |
|
|
TOTAL
|
16475.800 |
14964.800 |
11689.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
8469.300 |
7625.400 |
6332.400 |
|
|
Purchases of Stock-in-Trade |
2264.300 |
1787.600 |
1685.800 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(29.200) |
1.900 |
(69.900) |
|
|
Employees benefits expense |
1509.500 |
1357.800 |
990.100 |
|
|
CSR Expenditure |
0.900 |
2.800 |
0.000 |
|
|
Exceptional Items |
0.000 |
1095.700 |
0.000 |
|
|
Other expenses |
2385.200 |
2429.100 |
1555.400 |
|
|
TOTAL |
14600.000 |
14300.300 |
10493.800 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1875.800 |
664.500 |
1195.700 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.100 |
0.600 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1875.800 |
664.400 |
1195.100 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
780.900 |
891.800 |
94.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1094.900 |
(227.400) |
1100.500 |
|
|
|
|
|
|
|
Less |
TAX |
376.500 |
308.000 |
392.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
718.400 |
(535.400) |
708.300 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Service income |
29.400 |
69.700 |
|
|
|
Reimbursement of expenses |
8.800 |
3.400 |
|
|
|
Agency business income |
1.100 |
0.400 |
|
|
|
F.O.B. value of exports |
732.700 |
851.700 |
|
|
|
TOTAL
EARNINGS |
772.000 |
925.200 |
426.900 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials, Components and
Spares |
2305.200 |
2128.600 |
2073.100 |
|
|
Stock in trade |
910.100 |
681.900 |
0.000 |
|
|
Capital Goods |
11.400 |
3.800 |
578.500 |
|
|
TOTAL
IMPORTS |
3226.700 |
2814.300 |
2651.600 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
64.57 |
(53.24) |
70.43 |
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 |
1148.900 |
1577.800 |
848.100 |
|
Net cash flow from operating activity |
1081.600 |
1302.800 |
305.300 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
98.71 |
99.39 |
111.29 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.70 |
3.67 |
3.28 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
98.67 |
119.09 |
114.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.20 |
0.41 |
1.01 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.41 |
0.12 |
1.09 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.34 |
0.24 |
0.27 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.53 |
0.32 |
0.38 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.48 |
0.34 |
0.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.00 |
6645.00 |
1992.83 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
4.43 |
(3.67) |
6.14 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.74 |
(2.52) |
4.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
7.43 |
(3.37) |
6.75 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.82 |
2.02 |
1.79 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
1.51 |
1.70 |
1.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.64 |
0.75 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.82 |
2.02 |
1.79 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
100.560 |
100.560 |
127.730 |
|
Reserves & Surplus |
10388.500 |
9301.100 |
9540.800 |
|
Share Application money pending allotment |
0.000 |
6474.700 |
0.000 |
|
Net
worth |
10489.060 |
15876.360 |
9668.530 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
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
|
11529.800 |
14570.800 |
16205.900 |
|
|
|
26.375 |
11.222 |
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
|
11529.800 |
14570.800 |
16205.900 |
|
Profit
/ (Loss) |
708.300 |
(535.400) |
718.400 |
|
|
6.14% |
(3.67%) |
4.43% |
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 |
No |
|
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 |
BACKGROUND
Subject (‘the Company’) was incorporated in September 1993 under the Companies Act, 1956. 33.47% of the equity share capital is held by Emerson Electric (Mauritius) Limited, 35.23% is held by Liebert Corporation Inc, 17.52% is held by Chloride Supplies Limited. (UK) Columbus, 10.03% is held by EMR (Mauritius), Mauritius and 3.76% is held by Chloride Group Limited (UK). The Ultimate Holding Company is Emerson Electric Co, St. Louis, U.S.A.
The Company is primarily engaged in the business of manufacturing and marketing Uninterruptible Power Supply (UPS) Systems, Precision air conditioning systems (PAC), DC Power Systems (DC), Automatic Transfer Switches and parts of transmission apparatus (Shelter). The Company has its own manufacturing facilities set up at Ambernath (Maharashtra) and Pune.
The accounting policies set out below have been applied consistently to the periods presented in these financial statements. Basis of preparation of special purpose financial statements
These financial statements have been prepared and presented under the historical cost convention (except for certain fixed assets which are recorded at fair value) on the accrual basis of accounting and in accordance with the accounting principles generally accepted in India and comply with the accounting standards specified under section 133 of the Companies Act, 2013 (‘the Act’) read with Rule 7 of the Companies (Accounts) Rules, 2014, to the extent applicable.
REVIEW OF OPERATIONS
AND OUTLOOK:-
The Upgrading AC Power products to suit the Customer requirements, Introduction of Trinergy Cube model UPS, and changing the configuration of Air Products, Viz. PCW, PDX etc. significantly supported the sales growth. Designing and roll out of Air Conditioners for Reliance Jamnagar, designing and developing DC Power supply for Telecom Companies etc. was also well accepted by the Customers. In addition, introduction of “Smart Solution” for Data Centers and server rooms etc. received good response from the market.
The Company plans to introduce high efficiency intelligent UPS systems like eXM (80 to 200 KVA) , 80-XL ( 160 to 500 KVA) and Trinergy Cube UPS model up to 3.3MVA for IT and Industrial segments, SRC Small cooling is expected to contribute significant growth and market share in UPS segment in future.
INTRODUCTION AND
BACKGROUND
Emerson, based in St. Louis, Missouri (USA), is a global manufacturing company that brings technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets around the world.
In the 1950s, Emerson’s product offerings of that time, such as motors, drives and fans, began to be made available in India to support the country's first steps towards industrialization and economic growth. The company first entered India directly in 1980s through joint-venture relationships with several Indian-owned companies as a means to continue growing its business. Emerson has been investing significantly in India ever since the 1990s. In more recent years, Emerson has fully acquired several of these joint ventures and integrated these companies into its existing business platforms. Today, Emerson has a robust and growing presence in India.
EMERSON BRAND PROMISE
Emerson is where technology and engineering come together to create solutions for the benefit of its customers, driven without compromise for a world in action.
As a company Emerson strives to create long-term value for its shareholders, customers, and employees through constantly seeking excellence and a disciplined management process, which together drive sustained competitive advantage in a dynamic global market. Emerson’s commitment to shareholders is manifested by a well-managed, results-oriented approach to business and corporate governance.
The company’s values are deeply rooted within its corporate culture and reflect an internally disciplined character and high ethical standards. Emerson constantly strives to be better partners with their customers and to be more connected, forward-looking, and customer-focused than its competitors.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
Y10177310 |
90092289 |
CORPORATION BANK |
18/09/2003 |
- |
- |
22500000.0 |
INDUSTRIAL FINANCE BRANCHPUNE-MUMBAI ROAD; WAKDEWADIPUNEMH411003IN |
|
2 |
Y10170946 |
90085925 |
RUPEE CO-OP. BANK LTD. |
13/11/2001 |
- |
- |
5000000.0 |
CAMP BRANCHPUNEMH411001IN |
|
3 |
Y10247003 |
90147233 |
CREDIT LYONNIAS |
23/12/1998 |
- |
- |
120000000.0 |
MORARJEE MARG BALLARD ESTATEMUMBAIMH400001IN |
|
4 |
Y10169880 |
90084859 |
RUPEE CO-OP. BANK LTD. |
30/06/1998 |
- |
- |
1500000.0 |
CAMP BRANCHPUNEMH411001IN |
|
5 |
Y10141224 |
90061129 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
31/03/1997 |
02/06/1997 |
- |
11000000.0 |
IDBI TOWER; CUFFE PARADECOLABABOMBAYMH400005IN |
|
6 |
Y10246855 |
90147085 |
CREDIT AGRICOLE INDOSUEZ |
09/08/1996 |
23/12/1998 |
- |
62000000.0 |
RAMON HOUSE169 BACKBAY RECLAMATIONMUMBAIMH400020IN |
|
7 |
Y10169521 |
90084500 |
RUPEE CO-OP. BANK LTD. |
01/08/1996 |
13/11/2001 |
- |
4000000.0 |
CAMP BRANCHPUNEMH411001IN |
|
8 |
Y10240380 |
90140610 |
UNION BANK OF INDIA |
13/07/1996 |
- |
- |
200000000.0 |
239 VIDHAN BHAVANNARIMAN POINTMUMBAIMH400021IN |
|
9 |
Y10140887 |
90060792 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
17/11/1995 |
27/03/1996 |
- |
12500000.0 |
IDBI TOWER; CUFFE PARADECOLABABOMBAYMH400005IN |
|
10 |
Y10246786 |
90147016 |
UNION BANK OF INDIA |
15/01/1994 |
25/06/1999 |
- |
23500000.0 |
INDUSTRIAL FINANCE BRANCH239 VIDHAN BHAVAN MARG NARIMAN POINTMUMBAIMH400021IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Bank Guarantees |
1072.500 |
1206.200 |
|
Claims against the
Company not acknowledged as debts: |
|
|
|
Excise, customs duty and sales tax matters etc. |
52.300 |
116.000 |
|
Income tax matters |
7.100 |
7.100 |
|
Others litigation |
4.800 |
4.300 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
SUJ |
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.