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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

509052

Report Date :

14.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ABB INDIA LIMITED (w.e.f. 14.06.2013)

 

 

Formerly Known As :

ABB LIMITED (w.e.f. 2013)

 

ASEA BROWN BOVERI LIMITED (w.e.f. 13.10.1989)

 

HINDUSTAN BROWN BOVERI LIMITED (w.e.f. 1965)

 

HINDUSTAN ELECTRIC COMPANY LIMITED

 

 

Registered Office :

21st Floor, World Trade Center, Brigade Gateway, No.26/1, Dr. Rajkumar Road, Malleshwaram (West), Bangalore – 560055, Karnataka

Tel. No.:

91-80-22949150/ 1999

 

 

Country :

India

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

24.12.1949

 

 

Com. Reg. No.:

08-032923

 

 

Capital Investment / Paid-up Capital :

INR 423.800 Million

 

 

CIN No.:

[Company Identification No.]

L32202KA1949PLC032923

 

 

IEC No.:

[Import-Export Code No.]

0388038047

 

 

TIN No:

29450069265

 

 

GSTN :

[Goods & Service Tax Registration No.]

29AAACA3834B1Z4

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACA3834B

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The subject is engaged in:

 

1. Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus.

2. Manufacture of electronic components.

3. Manufacture of measuring, testing, navigating and control equipment; watches and clocks. (Registered Activity)

 

 

No. of Employees :

5590 (Approximately)

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A++

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists

 

 

Comments :

Subject is subsidiary of ‘ABB Asea Brown Boveri Limited’, Zurich.

 

 The company provides solutions for secure, energy-efficient generation, transmission and distribution of electricity and for increasing productivity in industrial, commercial and utility operations.

 

For the financial year 2017, the company has increased its revenue from operation as compared to previous year and maintained average profitability margin of 4.48%.

 

Rating takes into consideration strong financial profile of the company marked by healthy networth base and negligible debt balance sheet.

 

Further, rating also reflected from its established market position in the power and automation technology segments, strong operational, technologies and management support form ABB Limited.

 

Share price are quoted high on stock exchange (Share Price of INR 1258 with Face Value of INR 2.

 

These rating strengths are partially offset by the susceptibility of the company’s operating margin to intense competition and its exposure to structural issues in power sector.

 

Trade relations are reported as fair. Business is active. Payments are seems to be regular and as per commitment.

 

In view of established market position, the company can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTES : Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long-term Rating: (AAA)

Rating Explanation

Highest degree of safety and carry lowest credit risk.

Date

19.03.2018

 

Rating Agency Name

CRISIL

Rating

Short-term Rating: A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

19.03.2018

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

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 14.05.2018.

 

 

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 31-03-2018.

 

 

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

 

Office Executive (91-80-22949150/ 22941999)

 

 

 

 

LOCATIONS

 

Registered/ Corporate Office :

21st Floor, World Trade Center, Brigade Gateway, No.26/1, Dr. Rajkumar Road, Malleshwaram (West), Bangalore – 560055, Karnataka, India

Tel. No.:

91-80-22949150/ 53/ 54

Fax No.:

91-80-22949148

E-Mail :

ashay.khandwala@in.abb.com

b.gururaj@in.abb.com 

investor.helpdesk@in.abb.com

Website :

http://www.abb.co.in

 

 

Branch Office:

22A, Shah Industrial Estate, Off Verna Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India

 

 

Marketing Office:

ABB House, Dr. S B Path, Old Goa Street, Ballard Estate, Mumbai – 400025, Maharashtra, India

Tel No.:

91-22-66159800

 

 

Development Office :

KSSIDC IT/BT Park, Plot No. 1,2,3,4,  Rajajinagar Industrial Estate, 6th Block,  Bangalore – 560010, Karnataka, India

 

 

Factory 1 :

32, Industrial Area, NIT, Faridabad-121001, Haryana, India

Tel No.:

91-129-2448100

 

 

Factory 2 :

Menaja Village, Bank of Baroda Road, J.D. Nagar, Maneja, Vadodara - 390013, Gujarat, India

 

 

Factory 3 :

485/6, 14th Cross, 4th Phase, Peenya Industrial Area, Bangalore – 560058, Karnataka, India

Tel. No.:

91-80 2294 9449

 

 

Factory 4 :

Plot No.79, Street No.17, MIDC, Industrial Area, Satpur, Nashik – 422007, Maharashtra, India

 

 

Factory 5 :

A1 and A2, III Stage, Peenya Industrial Area, Bangalore – 560058, Karnataka, India

 

 

Factory 6 :

Power Electroics Excitation System Unit - 88/3 – 88/6, Basavanahalli Village, Kasaba Hobli, Bangalore North, Nelamangala – 562123, Karnataka, India

 

 

Factory 7 :

AP LV Control Products, Plot No 5&6, 2nd Phase, P.O. No. 5806, Peenya Industrial Area  Bangalore – 560048, Karnataka, India

 

 

Factory 8 :

Khanija, Bhavan, Race Course Road, 2nd Floor, No.49, West, Bangalore – 560001, Karnataka, India  

 

 

Factory 9 :

Halol Champaner Road, PO: Chqandrapura, District Panchmahal, Taluka Halol-391520, Gujarat, India

 

 

Factory 10 :

Plot No 25 and 36, (Alindra) Savli GIDC, Industrial Estate, Talika Savli District Vadodara– 391775, Gujarat, India

 

 

Factory 11 :

Raman Boards - 16th Km Mysore - Ooty Road, Thandavapura (Mysore District) - 571 301, Karnataka, India  

 

 

Factory:

Also Located At:

 

  • Haridwar
  • Mumbai
  • Mysore

 

 

DIRECTORS

 

As on 31.03.2018

 

Name :

Mr. Sanjeev Sharma

Designation :

Managing Director

Address :

3AA The Avare, No.2 Lorong Kuda 50450, Kuala Lumpur, 999999,  Malaysia

Date of Appointment :

01.01.2016

DIN No.:

07362344

 

 

Name :

Jean Christophe Georges Deslarzes

Designation :

Director

Address :

Runggelmatt 3 Wollerau 8832, China

Date of Appointment :

08.02.2018

DIN No.:

08064621

 

 

Name :

Mr. Nasser Mukhtar Munjee

Designation :

Director

Address :

Benedict Villa, House No.471, Saud Vaddo, Chorao Island, Tiswadi, Goa-403102, India

Date of Birth/Age :

18.11.1952

Qualification :

Post Graduate in Economics from ‘The London School Of Economics’

Date of Appointment :

20.02.2002

DIN No.:

00010180

 

 

Name :

Mr. Darius E Udwadia

Designation :

Director

Address :

Empress Court, 142, M-Karve Road, Mumbai-400020, Maharashtra, India

Date of Birth/Age :

27.09.1939

Qualification :

B.A, M.A, LL B.

Date of Appointment :

21.07.2005

DIN No.:

00009755

 

 

Name :

Ms. Renu Sud Karnad

Designation :

Director

Address :

BB-14, Greater Kailash, Enclave-II, New Delhi-110048, India

Date of Birth/Age :

03.09.1952

Qualification :

Master in Arts, Economics, University of Delhi and Bachelor of Law, University of Mumbai

Date of Appointment :

09.08.2013

DIN No.:

00008064

 

 

Name :

Mr. Tarak Bhadresh Mehta

Designation :

Director

Address :

Stockenstrasse 67, Kilchberg, Zurich, Kilchberg, 8802, Switzerland

Date of Birth/Age :

16.10.1966

Qualification :

BS Mechanical Engineering

MBA Finance and Marketing

Date of Appointment :

28.10.2014

DIN No.:

06995639

 

 

KEY EXECUTIVES

 

Name :

Mr. Gururaj Bhujanga Rao

Designation :

Company Secretary

Address :

S-1, 'Padma', No.38, 8th Cross, 5th Main, Malleswaram, Bangalore-560001, Karnataka, India

Date of Appointment :

01.10.2002

PAN No.:

AANPB2813P

 

 

Name :

Tyagavalli Krishnaswamy Sridhar

Designation :

Chief Financial Officer

Address :

Flat No. 36/5, UP Homes, 16th Cross, 11th Main, Malleswaram, Bangalore-560055, Karnataka, India

Date of Appointment :

24.07.2015

PAN No.:

ANIPS7791R

 

 

Audit Committee :

·         Nasser Munjee - Director (Chairman)

·         Darius E Udwadia - Director

·         Renu Sud Karnad - Director

·         Tarak Mehta - Director

 

 

Stakeholders Relationship Committee :

·         Darius E Udwadia - Chairman

·         Renu Sud Karnad - Member

·         Sanjeev Sharma - Member

 

 

Nomination and Remuneration Committee :

·         Nasser Munjee - Chairman

·         Renu Sud Karnad - Member

·         Frank Duggan – Member

·         Jean Christophe Georges Deslarzes (w.e.f. 08.02.2018)

 

 

Corporate Social Responsibility Committee :

·         Renu Sud Karnad - Chairperson

·         Sanjeev Sharma - Member

·         Tarak Mehta - Member

 

 

Risk Management Committee :

·         Nasser Munjee - Chairman

·         Frank Duggan – Member

·         Jean Christophe Georges Deslarzes (w.e.f. 08.02.2018)

·         Sanjeev Sharma - Member

·         T.K. Sridhar – Member

·         Piamber Shivnani – Member (w.e.f. 82.02.2018)

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2018

 

Category of shareholder

Total Nos. shares held

% of total no. of shares

(A) Promoter & Promoter Group

158931281

75.00

(B) Public

52977094

25.00

Grand Total

211908375

100.00

 

 

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP"

 

Category of shareholder

Total nos. shares held

 % of total no. of shares

A1) Indian

 

A2) Foreign

0.00

Any Other (specify)

158931281

75.00

ABB Norden Holding AB

12540330

5.92

ABB Asea Brown Boveri Limited

146390951

69.08

Sub Total A2

158931281

75.00

A=A1+A2

158931281

75.00

 

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a % of

B1) Institutions

0.00

Mutual Funds/

13317170

6.28

Hdfc Trustee Company Ltd-Hdfc Top200 Fund

3083296

1.46

Reliance Capital Trustee Company Limited A/C

6947638

3.28

Foreign Portfolio Investors

6812157

3.21

Financial Institutions/ Banks

15389400

7.26

Life Insurance Corporation Of India

13489084

6.37

Any Other (specify)

705

0.00

Sub Total B1

35519432

16.76

B2) Central Government/ State Government(s)/ President of India

0.00

B3) Non-Institutions

0.00

Individual share capital upto Rs. 2 Lacs

14086922

6.65

Individual share capital in excess of Rs. 2 Lacs

111441

0.05

NBFCs registered with RBI

658186

0.31

Any Other (specify)

2601113

1.23

Sub Total B3

17457662

8.24

B=B1+B2+B3

52977094

25.00

 

 

BUSINESS DETAILS

 

Line of Business :

The subject is engaged in:

 

1. Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus

2. Manufacture of electronic components

3. Manufacture of measuring, testing, navigating and control equipment; watches and clocks. (Registered Activity)

 

 

Products :

NIC Code

Product/ Services Description

271

Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus

279

Manufacture of other electrical equipment

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Available

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Available

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

5590 (Approximately)

 

 

Bankers :
  • AXIS Bank Limited
  • Bank of America, N.A.
  • Bank of Bhutan Limited
  • Canara Bank
  • Deutsche Bank AG
  • HDFC Bank Limited
  • ICICI Bank Limited
  • IDBI Bank Limited
  • JP Morgan Chase Bank, N.A.
  • Standard Chartered Bank
  • State Bank of India
  • The Hongkong and Shanghai Banking Corporation Limited
  • YES Bank Limited

 

 

Facilities :

Secured Loan

31.12.2017

(INR in Million)

31.12.2016

(INR in Million)

Long-term Borrowings

 

 

600 (December 31, 2015: 600) Unsecured, listed, redeemable, non-convertible debenture having face value of INR 10000000 each.

0.000

6000.000

Finance lease obligation

41.400

0.000

Total

41.400

6000.000

 

NOTE:

 

The debentures are repayable after 3 years from the date of allotment being September 4, 2015. The debentures carry interest rate of MIBOR plus 80 basis points. The proceeds have been utilized towards working capital and other corporate purposes including refinancing of Company’s debt.

 

 

Auditors 1:

 

Name :

S.R. Batliboi and Associates LLP

Chartered Accountants

Address :

“UB City”, Canberra Block, 12th Floor, No.24, Vittal Mallya Road, Bangalore – 560001, Karnataka, India

Tel. No. :

91-80-67275000

Fax No. :

91-80-22106000

 

 

Auditors 2:

 

Name :

BSR and Company LLP

Chartered Accountants

Address :

11-12/1, Inner Ring Road, Koramangala, Bangalore – 560071, Karnataka, India

Tel. No. :

91-80-71347000

Fax No. :

91-80-71347999

 

 

Cost Auditor

 

Name :

Ashwin Solanki and Associates

Cost Accountants

Address :

D/104, Koyna, Shantivan, Near National Park, Borivli (East), Mumbai – 400066, Maharashtra, India

 

 

Secretarial Auditor

Messrs HBP and Company

Company Secretary

Address :

No.926, 20th Main BSK, 2nd Stage, Bangalore – 560070, Karnataka, India

 

 

Memberships :

--

 

 

Collaborators :

---

 

 

Ultimate Holding Company:

ABB Limited, Zurich, Switzerland

 

 

Holding Company :

ABB Asea Brown Boveri Limited, Zurich, Switzerland

 

 

Fellow subsidiaries :
  • ABB (Asea Brown Boveri), S.A., Oeiras, Portugal
  • ABB (China) Limited, Beijing, China
  • ABB (Hong Kong) Limited, Hong Kong, Hong Kong
  • ABB (Namibia) (Pty) Limited, Windhoek, Namibia
  • ABB (Private) Limited, Harare, Zimbabwe
  • ABB (Pty) Limited, Gaborone, Botswana
  • ABB (Private) Limited, Lahore, Pakistan
  • ABB A/S, Skovlunde, Denmark
  • ABB AB, Västerås, Sweden
  • ABB AG, Mannheim, Germany
  • ABB AG, Vienna, Austria
  • ABB AS, Billingstad, Norway
  • ABB AS, Jüri, Estonia
  • ABB Manufacturing Sdn. Bhd., Subang Jaya, Malaysia
  • ABB Australia Pty Limited, Moorebank, NSW, Australia
  • ABB Automation Company Limited, Riyadh, Saudi Arabia
  • ABB Automation GMBH, Mannheim, Germany
  • ABB Automation L.L.C., Abu Dhabi, United Arab Emirates
  • ABB Automation Products GMBH, Ladenburg, Germany
  • ABB B.V., Rotterdam, Netherlands
  • ABB Bailey Beijing Engineering Company Limited, Beijing, China
  • ABB Bailey Japan Limited, Shizuoka-Ken, Japan
  • ABB Beijing Drive Systems Company Limited, Beijing, China
  • ABB Beteiligungs-Management GmbH, Mannheim, Germany
  • ABB Bulgaria EOOD, Sofia, Bulgaria
  • ABB Business Services Sp. z o.o., Warsaw, Poland
  • ABB Canada Holding Limited Partnership, Saint-Laurent, Canada
  • ABB Capital B.V., Rotterdam, Netherlands
  • ABB Chongqing Transformer Company Limited, Chongqing, China
  • ABB Contracting Company Limited, Riyadh, Saudi Arabia
  • ABB d.o.o., Belgrade, Serbia
  • ABB Ecuador S.A., Quito, Ecuador
  • ABB Electrical Industries Limited, Riyadh, Saudi Arabia
  • ABB Electrical Machines Limited, Shanghai, China
  • ABB Elektrik Sanayi A.S., Istanbul, Turkey
  • ABB Engg. Technologies Company (KSCC), Safat, Kuwait
  • ABB Engineering (Shanghai) Limited, Shanghai, China
  • ABB Engineering Trading and Service Limited, Budapest, Hungary
  • ABB Enterprise Software Inc., Atlanta, GA, United States
  • ABB Enterprise Software UK Limited, Warrington, United Kingdom
  • ABB ESAP Limited, St. Peter’s Port, Guernsey
  • ABB Finance B.V., Rotterdam, Netherlands
  • ABB for Electrical Industries (ABB ARAB) S.A.E., Cairo, Egypt
  • ABB France, Cergy Pontoise, France
  • ABB FZ-LLC, Dubai, United Arab Emirates
  • ABB Generators Limited, Nanchang, China
  • ABB Genway Xiamen Electrical Equipment Company Limited, Xiamen, China
  • ABB Global Industries and Services Private Limited, Bangalore, India
  • ABB Global Marketing FZ LLC, Dubai, United Arab Emirates
  • ABB Hefei Transformer Company Limited, Hefei, China
  • ABB High Voltage Switchgear (Xiamen) Company Limited, Xiamen, China
  • ABB High Voltage Switchgear Company, Limited Beijing, Beijing, China
  • ABB Holdings B.V., Rotterdam, Netherlands
  • ABB Holdings Sdn. Bhd., Subang Jaya, Malaysia
  • ABB Import and Export Services Limited, Oranjestad/Aruba (NA), Aruba
  • ABB Inc., Cary, NC, United States
  • ABB Management Services Limited, Zurich, Switzerland
  • ABB Inc., Saint-Laurent, Quebec, Canada
  • ABB Industries (L.L.C.), Dubai, United Arab Emirates
  • ABB Industries FZ, Dubai, United Arab Emirates
  • ABB Information Systems Limited, Zurich, Switzerland
  • ABB International Marketing Limited in liquidation, Zurich, Switzerland
  • ABB Intra AG, Baden, Switzerland
  • ABB Inzeniring d.o.o., Ljubljana, Slovenia
  • ABB SARL, Kinshasa Gombe, Congo, Democratic Republic of the
  • ABB SAS, Cergy Pontoise, France
  • ABB Schweiz AG, Baden, Switzerland
  • ABB Sécheron S.A., Satigny, Switzerland
  • ABB Service Company Limited, Al Khobar, Saudi Arabia
  • ABB Shanghai Motors Company Limited, Shanghai, China
  • ABB Shanghai Transformer Company Limited, Shanghai, China
  • ABB Shenzhen New Energy System Company, Limited , Shenzhen, China
  • ABB SIA, Riga, Latvia
  • ABB South Africa (Pty) Limited, Longmeadow, South Africa
  • ABB Sp. z o.o., Warsaw, Poland
  • ABB Stotz-Kontakt GmbH, Heidelberg, Germany
  • ABB Striebel and John GmbH, Sasbach, Germany
  • ABB Technologies Limited, Haifa, Israel
  • ABB Technologies S.A., Dakar, Senegal
  • ABB Technologies W.L.L., Bahrain, Bahrain
  • ABB Technology Oy, Helsinki, Finland
  • ABB Technology SA, Abidjan, Cote d’Ivoire
  • ABB Training Center GmbH and Company KG, Heidelberg, Germany
  • ABB Transformers S.A.E., El-Nozha El-Gedida, Egypt
  • ABB Transmission and Distribution Limited LLC, Abu Dhabi, United Arab Emirates
  • ABB Turbo Systems (Hong Kong) Limited, Hong Kong, Hong Kong
  • ABB Turbo Systems AG, Baden, Switzerland
  • ABB Turbo Systems Holding Limited, Baden, Switzerland
  • ABB Turbochargers S.A.E., Suez, Egypt
  • ABB UAB, Avizieniai , Lithuania
  • ABB Verwaltungs AG, Zurich, Switzerland
  • ABB Xiamen Electrical Controlgear Company Limited, Xiamen, China
  • ABB Xiamen Low Voltage Equipment Company Limited, Xiamen, China
  • ABB Xiamen Switchgear Company Limited, Xiamen, China
  • ABB Xi’an High Power Rectifier Company Limited, Xi’an, China
  • ABB Xi’an Power Capacitor Company Limited, Xi’an, China
  • ABB Xinhui Low Voltage Switchgear Company Limited, Xinhui , China
  • ABB Zhongshan Transformer Company Limited, Zhongshan, China
  • ABB, Inc., Paranaque, Metro Manila, Philippines
  • ABB Jiangjin Turbo Systems Company Limited, Chongqing, China
  • ABB Jiangsu Jingke Instrument Transformer Company, Limited, Suqian, Jiangsu, China
  • ABB K.K., Tokyo, Japan
  • ABB Limited, Auckland, New Zealand
  • ABB Limited, Bangkok, Thailand
  • ABB Limited, Dar ES Salaam, Tanzania, United Republic of
  • ABB Limited, Dhaka, Bangladesh
  • ABB Limited, Dublin, Ireland
  • ABB Limited, Nairobi, Kenya
  • ABB Limited, Warrington, United Kingdom
  • ABB Limited/Jordan LLC., Amman, Jordan
  • ABB LLC, Doha, Qatar
  • ABB LLC, Muscat, Oman
  • ABB LLP., Almaty, Kazakhstan
  • ABB Logistics Center Europe GmbH, Menden, Germany
  • ABB Limited, Hanoi, Vietnam
  • ABB Limited, Kampala, Uganda
  • ABB Limited, Kiev, Ukraine
  • ABB Limited, Lusaka, Zambia
  • ABB Limited, Moscow, Russian Federation
  • ABB Limited, Seoul, Korea, Republic of
  • ABB Limited, Taipei, Taiwan, Province of China
  • ABB Limited, Zagreb, Croatia
  • ABB Ltda., Bogotá, Colombia
  • ABB Ltda., São Paulo, Brazil
  • ABB LV Installation Materials Company Limited Beijing, Beijing, China
  • ABB Malaysia Sdn Bhd., Subang Jaya, Malaysia
  • ABB Mexico S.A. de C.V., San Luis Potosi SLP, Mexico
  • ABB Motion Limited, Bristol, United Kingdom
  • ABB N.V., Zaventem, Belgium
  • ABB Near East Trading Limited, Amman, Jordan
  • ABB Norden Holding AB, Västerås, Sweden
  • ABB Oryx Motors and Generators Service LLC, Doha, Qatar
  • ABB Oy, Helsinki, Finland
  • ABB Power and Automation (Private) Limited, Lahore, Pakistan
  • ABB Power Equipment (Xiamen) Company, Limited, Xiamen, China
  • ABB Power Protection SA, Gambarogno, Switzerland
  • ABB Pte. Limited, Singapore, Singapore
  • ABB Research Limited, Zurich, Switzerland
  • ABB S.A., Buenos Aires, Argentina
  • ABB S.A., Casablanca, Morocco
  • ABB S.A., Lima, Peru
  • ABB S.A., Panama, Panama
  • ABB S.A., Santiago, Chile
  • ABB S.p.A., Milan, Italy
  • ABB S.R.O., Prague, Czech Republic
  • ABB, S.R.O., Bratislava, Slovakia
  • ABB NG Limited, Lagos, Nigeria
  • Asea Brown Boveri Electrica SGPS (Angola) Limitada, Luanda, Angola
  • Asea Brown Boveri Industrial, Technical and Commercial Company of
  • Imports – Exports S.A., Metamorphossis Attica , Greece
  • Asea Brown Boveri Lanka (Private) Limited, Colombo, Sri Lanka
  • Asea Brown Boveri Limited, Moka, Mauritius
  • Asea Brown Boveri Ltda., La Paz, Bolivia, Plurinational State of
  • Asea Brown Boveri S.A., Caracas, Venezuela, Bolivarian Republic of
  • Asea Brown Boveri S.A., Douala, Cameroon
  • Asea Brown Boveri S.A., Madrid, Spain
  • Asea Brown Boveri S.A.E., Cairo, Egypt
  • Baldor Electric (Asia) PTE Limited, Singapore, Singapore
  • Baldor Electric Company, Fort Smith, AR, United States
  • Busch-Jaeger Elektro GmbH, Lüdenscheid, Germany
  • Electrical Materials Center Company Ltd, Riyadh, Saudi Arabia
  • Maska Power Transmission (Changzhou) Company Limited, Changzhou, China
  • Power-One Italy S.p.A., Terranuova Bracciolini (AR), Italy
  • Power-One Renewable Energy Solutions India Private Limited,Mumbai, India
  • Power-One Renewable Energy Solutions LLC, Delaware, United States
  • PT ABB Sakti Industri, Jakarta, Indonesia
  • Pucaro Elektro-Isolierstoffe GmbH, Roigheim, Germany
  • Shanghai ABB Power Transmission Company Limited, Shanghai, China
  • Shantou Winride Switchgear Company, Limited, Longhu District Shantou, China
  • Spirit IT B.V., Eindhoven, Netherlands
  • Sucursal Panama de ABB SA, Panama, Panama
  • Thomas and Betts Asia (Singapore) Pte. Limited, Singapore, Singapore
  • Thomas and Betts Corporation, Knoxville, TN, United States
  • Thomas and Betts India Private Limited, Hyderabad, India
  • Thomas and Betts Limited, Saint-Jean-sur-Richelieu, Quebec, Canada
  • Thomas and Betts Power Solutions LLC, Delaware, United States
  • Trasfor S.A., Monteggio, Switzerland
  • Turbo Systems United Company Limited, Tokyo, Japan

 

 

CAPITAL STRUCTURE

 

 

AS ON 31.12.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

212500000

Equity Shares

INR 2/- each

INR 425.000 Million

750000

11% Redeemable Cumulative Preferences Shares

INR 100/- each

INR 75.000 Million

 

Total

 

INR 500.000 Million

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

211908375

Equity Shares

INR 2/- each

INR 423.800 Million

 

 

 

 

 

 

a) Terms / rights attached to equity shares

 

The Company has only one class of equity shares having a par value of INR 2/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pay dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

 

During the year ended December 31, 2017, the amount of per share dividend recommended and provided for distribution to equity shareholders is INR 4.40

 

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

 

b) Shares held by holding / ultimate holding company and / or their subsidiaries / associates

 

Particulars

31.12.2017

Number

INR In Million

ABB Asea Brown Boveri Limited - the holding company

146390951

292.800

ABB Norden Holding AB - a fellow subsidiary

12540330

25.100

Total

158931281

317.900

 

 

c) Details of shareholders holding more than 5% of the shares in the Company

 

Particulars

31.12.2017

Number

% of holding

Equity shares of INR 2/- each

 

 

ABB Asea Brown Boveri Limited - the holding company

146390951

69.08

ABB Norden Holding AB - a fellow subsidiary

12540330

5.92

Life Insurance Corporation of India

14439268

6.81

 

As per records of the Company and other declarations received from shareholders, the above shareholding represents both legal and beneficial ownerships of shares

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2017

31.12.2016

31.12.2015

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

423.800

423.800

423.800

(b) Reserves & Surplus

35645.100

32443.200

29661.700

(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)

36068.900

32867.000

30085.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term Borrowings

41.400

6000.000

6000.000

(b) Deferred Tax Liabilities (Net)

0.000

0.000

0.000

(c) Other Long Term Liabilities

38.600

39.100

43.000

(d) Long-term Provisions

426.800

520.800

479.200

Total Non-current Liabilities (3)

506.800

6559.900

6522.200

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term Borrowings

0.000

0.400

0.000

(b) Trade Payables

27131.100

21573.000

21019.600

(c) Other Current Liabilities

22028.500

13286.700

12677.000

(d) Short-term Provisions

3145.200

3025.000

3784.000

Total Current Liabilities (4)

52304.800

37885.100

37480.600

 

 

 

 

TOTAL

88880.500

77312.000

74088.300

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-Current Assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible Assets

11426.000

11687.900

11993.600

(ii) Intangible Assets

296.400

861.200

990.600

(iii) Capital work-in-progress

1164.800

677.800

442.800

(iv) Intangible assets under Development

464.200

0.000

0.000

(b) Non-current Investments

1.700

162.300

163.100

(c) Deferred Tax Assets (net)

1173.000

1303.800

489.600

(d)  Long-term Loan and Advances

215.600

222.300

4222.000

(e) Other Non-Current Assets

4574.400

3747.200

66.900

Total Non-Current Assets

19316.100

18662.500

18368.600

 

 

 

 

(2) Current Assets

 

 

 

(a) Current Investments

2704.500

0.800

0.800

(b) Inventories

11535.500

9402.500

9395.700

(c) Trade Receivables

27877.800

29707.200

33909.300

(d) Cash and Cash Equivalents

14916.600

11891.600

5735.900

(e) Short-term Loans and Advances

246.200

190.200

2780.800

(f) Other Current Assets

12283.800

7457.200

3897.200

Total Current Assets

69564.400

58649.500

55719.700

 

 

 

 

TOTAL

88880.500

77312.000

74088.300

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.12.2017

31.12.2016

31.12.2015

 

SALES

 

 

 

 

Income

93751.000

91835.200

81402.700

 

Other Income

1209.700

1215.700

130.400

 

TOTAL

94960.700

93050.900

81533.100

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

50606.700

46372.900

45605.100

 

Purchases of Stock-in-Trade

3571.200

4015.900

3216.400

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(655.100)

666.400

(485.600)

 

Employees benefits expense

7963.000

7502.600

7498.700

 

Other expenses

16643.800

15842.100

13778.900

 

Excise Duty

2877.800

5413.100

0.000

 

Subcontracting charges

5382.900

5076.900

4664.200

 

TOTAL

86390.300

84889.900

74277.700

 

 

 

 

 

 

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

8570.400

8161.000

7255.400

 

 

 

 

 

Less

FINANCIAL EXPENSES

773.100

918.800

911.600

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

7797.300

7242.200

6343.800

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

1579.700

1509.500

1597.900

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

6217.600

5732.700

4745.900

 

 

 

 

 

Less

TAX

2018.100

1988.000

1747.100

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

4199.500

3744.700

2998.800

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

19.82

17.67

 14.15

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.12.2017

31.12.2016

31.12.2015

Current Maturities of Long term debt

6000.000

NA

NA

Cash generated from operations

10798.000

5785.000

6002.900

Net cash flow from operating activities

8625.700

3816.700

4790.000

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.12.2017

31.12.2016

31.12.2015

Average Collection Days

[Sundry Debtors / Income * 365]

108.54

118.07

152.05

 

 

 

 

Account Receivables Turnover

[Income / Sunday Debtors]

3.36

3.09

2.40

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

182.78

156.27

157.15

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.74

0.87

0.77

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.64

0.62

0.54

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.12.2017

31.12.2016

31.12.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.59

0.57

0.59

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.18

0.20

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.45

1.15

1.25

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.37

0.40

0.45

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

11.09

8.88

7.96

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.12.2017

31.12.2016

31.12.2015

Net Profit Margin

 ((PAT / Sales) * 100)

%

4.48

4.08

3.68

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

4.72

4.84

4.05

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

11.64

11.39

9.97

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.12.2017

31.12.2016

31.12.2015

Current Ratio

(Current Assets / Current Liabilities)

1.33

1.55

1.49

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.11

1.30

1.24

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.41

0.43

0.41

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.10

14.16

14.16

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.33

1.55

1.49

 

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

 

 

STOCK PRICES

 

Face Value

INR 02.00/-

Market Value

INR 1258.00/-

 

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.12.2015

31.12.2016

31.12.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

423.800

423.800

423.800

Reserves & Surplus

29661.700

32443.200

35645.100

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

30085.500

32867.000

36068.900

 

 

 

 

long-term borrowings

6000.000

6000.000

41.400

Short term borrowings

0.000

0.400

0.000

Total borrowings

6000.000

6000.400

41.400

Debt/Equity ratio

0.199

0.183

0.001

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2015

31.12.2016

31.12.2017

 

INR In Million

INR In Million

INR In Million

Sales

81402.700

91835.200

93751.000

 

 

12.816

2.086

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2015

31.12.2016

31.12.2017

 

INR In Million

INR In Million

INR In Million

Sales

81402.700

91835.200

93751.000

Profit

2998.800

3744.700

4199.500

 

3.68%

4.08%

4.48%

 

 

LEGAL CASE

 

HIGH COURT

FABZ FABRICOMINDIA PVT LTD VS ABB INDIA LTD

High Court-Mum

Case no:929. ARBAP/321/2014

Case status:Pending

Judge:HON'BLE SHRI JUSTICE G.S. PATEL

Date:2015-01-21T00:00:00Z

 

HIGH COURT

 

VADODARA BHARAT BIJLEE LTD VS ABB INDIA LTD

High Court-Guj

Case no:92. CA/13222/2015

Case status:Pending

Judge:HON'BLE MR.JUSTICE - 1

Date:2016-04-02T00:00:00Z

 

HIGH COURT

 

MS MARCOTEX ENGINEERS ND CONSULTANTS VS MS ABB INDIA LTD.

High Court-Mum

Case no:1080. ARBAP/1/2015

Case status:Pending

Judge:HON'BLE SHRI JUSTICE G.S. PATEL

Date:2015-01-13T00:00:00Z

 

HIGH COURT

 

ANAND RAO INFRASTRUCTURE PVT. LTD. Vs. ABB INDIA LIMITED

High Court-Delhi

Case no:O.M.P. (COMM) 32/2016 I.A. 1567/2016

Case status:Pending

Judge:HON BLE MR. JUSTICE High court

 

ANAND RAO INFRASTRUCTURE PVT. LTD. Vs. ABB INDIA LIMITED

high court-Delhi

Case no:O.M.P. (COMM) 32/2016 I.A. 1567/2016

Case status:Pending

Judge:HON BLE MR. JUSTICE MANMOHAN SINGH

Date:16/07/11

MANMOHAN SINGH

Date:16/07/11

 

 

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

Yes

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

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

---

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CHANGE OF ADDRESS

 

The Company has shifted its Registered Office to the new premises at 21st Floor, World Trade Center, Brigade Gateway, No.26/1, Dr. Rajkumar Road, Malleshwaram West, Bangalore – 560055, Karnataka, India effective May 19, 2014.

 

 

CORPORATE INFORMATION

 

The Company has served utility and industry customers for over six decades with the complete range of engineering, products, solutions and services in areas of Automation and Power technology. The Company has extensive installed base for manufacturing and a countrywide marketing and service presence. Besides catering to Indian domestic market, the Company is also playing an increasing role in the global market.

 

PERFORMANCE REVIEW:

 

During the year, orders touched INR 94900.000 Million as against INR 124660.000 Million in the Previous Year. Excluding the one-time mega HVDC and large traction transformer orders in 2016 in the year 2017 the orders witnessed a healthy growth of 19 percent reflecting the technology push and continued traction in transportation and renewable energy. Services and export-led orders resulted in more comprehensive customer engagements. The order backlog at the end of the year stood at INR 115340.00 Million which continued to provide visibility to the future revenue streams.

 

The revenue from operations for the Company for the year 2017 stood at INR 94960.700 Million as against INR 93050.900 Million in the previous year reflecting stability of operations in an uncertain market situation. Profit before tax was up by 8% at INR 6217.600 Million in 2017 on higher sales as compared to INR 5732.700 Million in the previous year mainly due to operational excellence Initiatives supply chain efficiencies focus on project management. Net profit after tax was up by 12% at INR 4199.500 Million for the current year as compared to INR 3744.700 Million in the previous year. Consequently the earnings per share for the year 2017 stood at INR 19.82 per share as compared to INR 17.67 per share in the year 2016.

 

 

 

 

 

UNSECURED LOAN

 

Unsecured Loan

31.12.2017

(INR in Million)

31.12.2016

(INR in Million)

Short-term borrowings

 

 

Overdraft Facility from Banks

0.000

0.400

Total

0.000

0.400

 

Note: Short term borrowings represent unsecured overdraft facility from banks. The same is repayable on demand and carries interest @ 9% to 11% p.a.

 

INDEX OF CAHREGS:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

Z00074895

80017474

ICICI BANK LIMITED

08/09/2003

-

-

150000000.0

ICICI BANK TOWERS1, COMMISSORIAT ROAD, BANGALORE-560001IN

2

A22227607

80017462

CANARA BANK

08/09/2003

-

03/09/2007

300000000.0

CORPORATE SERVICE BRANCHNO.25,M G ROADBANGALOREKA560001IN

3

A22227839

80017469

UNION BANK OF INDIA

08/09/2003

-

01/09/2007

400000000.0

INDUSTRIAL FINANCE BRANCH,111/74HAFEEZA CHAMBERS,K H ROADBANGALOREKA560027IN

4

A17967092

80020297

ICICI BANK LIMITED

08/09/2003

31/01/2005

03/07/2007

150000000.0

ICICI BANK TOWERS1, COMMISSORIAT ROAD, BANGALORE-560001IN

5

A13438502

80017468

STANDARD CHARTERED BANK

08/09/2003

-

11/04/2007

75000000.0

RAHEJA TOWERS26/27, M G ROAD, BANGALOREKA560001IN

6

A10175107

80017472

HONGKONG AND SHANGHAI BANKING CORPORATION

08/09/2003

-

19/01/2007

75000000.0

NO.7,M G ROAD, BANGALOREKA560001IN

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.12.2017

(INR In Million)

31.12.2016

(INR In Million)

i) Excise duty / service tax and sales tax liabilities in dispute

6675.000

5282.500

ii) Custom duty liabilities in dispute

49.000

23.100

iii) Claims against the Company not acknowledged as debts

2403.200

748.700

iv) Income tax matters in dispute

169.800

453.700

 

The Company is contesting the demands and the management believes that its position will likely be upheld in the various appellate authorities/courts. The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the Company’s financial position.

 

In respect of the above contingent liabilities, the future cash outflows are determinable only on receipt of judgement pending at various forums / authorities.

 

 

FIXED ASSETS

 

Tangible Assets

·         Freehold Land

·         Leasehold Land

·         Leasehold Improvements

·         Factory Buildings

·         Other Buildings

·         Plant and Equipment

·         Office Equipment’s

·         Furniture and Fixtures

 

Intangible Assets

·         Goodwill

·         Technical Know-how fees

·         Capitalised Software

 

 

 

 

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 67.22

UK Pound

1

INR 90.87

Euro

1

INR 80.08

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

PSD

 

 

Report Prepared by :

TRUP

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

YES

--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.